what is the difference between average, relative and current volume? which should I look at for day or swing trades?

The image you provided highlights the distinction between average, relative, and current volume, which are crucial concepts in trading analysis.

1. **Average Volume**: This is the total volume of trades for a security over a specific period, usually calculated by taking the average of daily or weekly volumes. It represents the typical trading activity for that security. For instance, if the 10-day average volume of Tesla is 150 million shares per day, this is the baseline volume used for comparison.
2. **Relative Volume (RVOL)**: This indicator compares the current trading volume to the average volume over a specified period, helping traders assess the intensity of market activity. RVOL highlights how today’s volume compares to what’s typical for that stock. It's calculated using the formula: relative volume = current volume / average volume. An RVOL of 1 indicates the current volume is at the average level, while an RVOL greater than 1 suggests higher-than-average trading activity.
3. **Current Volume**: This is the volume of trades happening at the present moment. It reflects the immediate trading activity and can be influenced by various factors such as market news, earnings reports, or geopolitical events.

For day trading or swing trade strategies, you should focus on:

1. **Relative Volume (RVOL)**: RVOL is essential for assessing market sentiment and potential price movements. It helps confirm trends and breakouts, which are critical for day trading. Traders often look at pre-market volume to identify stocks that may be trading high volumes due to potential catalysts.
2. **Current Volume**: Monitor current volume to gauge immediate market interest and react to sudden spikes or drops, which can signal the start of a trend or a trend reversal. High current volume can indicate liquidity and investor interest, which is beneficial for entering or exiting positions.
3. **Average Volume**: While less dynamic than RVOL and current volume, average volume provides a historical context. It can help you understand the stock's typical liquidity and trading activity, which is useful for scaling your position size and managing risk.

In summary, for day trading and swing strategies:

* Use RVOL to identify trending stocks and assess market sentiment.
* Keep an eye on current volume to catch immediate price movements and react to market changes.
* Consider average volume to understand historical trading patterns and manage position sizes.

By combining these three indicators, you can gain a comprehensive view of market activity and make more informed trading decisions.