Definition
#Measures the rarity of current sell-side notional volume in the active rolling window relative to the historical sell-volume mean and standard deviation.
Formula & calculation
#(Live Mean Sell Volume - Historical Mean Sell Volume) / Historical StdDev Sell VolumeUnits & range
Z.
Interpretation
#Higher values indicate unusually strong sell-side volume relative to its historical norm.
Practical usage
#Useful for isolating unusual sell-side activity relative to history.
Common mistakes
#Frequent interpretation traps and misuse patterns to avoid when applying this metric.
- Treating it as sufficient on its own without checking price movement and context.
Timeframe note
#This metric applies to rolling windows such as 5m, 15m, and 60m. The underlying definition stays the same; what changes is the time horizon used to measure it. Shorter windows react faster, while longer windows smooth noise and emphasize broader structure.
5m
Faster response to fresh changes in activity and short-horizon structure.
15m
Balanced view between responsiveness and persistence.
60m
Broader context that is slower but more stable.