Volume can be a very useful tool if used correctly. Relative volume is designed to filter out the noise and highlight anomalies assisting traders in tracking institutional movements.
This tool can be used to identify stop loss hunters and organized dumps. It uses a variety of moving averages to hide usual activity and features an LSMA line to show trend. Trend columns are shown to highlight activity and can be seen at bottom of the volume columns, this is done using ZLSMA and LSMA.