OPEN-SOURCE SCRIPT
RVOL Candles | FALCON AI
Falcon RVOL Candles — an educational volume study.
Most volume tools compare the current bar to a rolling average, which mixes the
busy market open with the quiet lunch hour and gives a distorted read. This study
does it differently: it compares each candle to the average volume at that SAME
time of day. The 9:30 bar is measured against past 9:30 bars, the 12:00 bar against
past 12:00 bars — like-for-like. That shows when a move is backed by genuine,
time-adjusted participation versus a low-liquidity drift.
How to read it:
• Extreme — volume ≥ 2× the time-of-day average (unusually heavy)
• High — volume ≥ 1.5×
• Normal — in between
• Low — volume ≤ 0.7× (quiet)
An optional top-right readout shows the live RVOL multiple and its tier.
Settings:
• Thresholds for each tier (multiples of the time-of-day average)
• Fully customizable colors
• Toggle the readout on/off
Notes:
• Works best on intraday timeframes, since it groups volume by time of day.
• Averages build as the chart loads more bars of each time slot — give it history
for a stable read.
• Chart study only: it does not place trades, does not backtest, and has no entry,
stop, target, or position-sizing logic. Your entry, your risk. Not financial advice.
Most volume tools compare the current bar to a rolling average, which mixes the
busy market open with the quiet lunch hour and gives a distorted read. This study
does it differently: it compares each candle to the average volume at that SAME
time of day. The 9:30 bar is measured against past 9:30 bars, the 12:00 bar against
past 12:00 bars — like-for-like. That shows when a move is backed by genuine,
time-adjusted participation versus a low-liquidity drift.
How to read it:
• Extreme — volume ≥ 2× the time-of-day average (unusually heavy)
• High — volume ≥ 1.5×
• Normal — in between
• Low — volume ≤ 0.7× (quiet)
An optional top-right readout shows the live RVOL multiple and its tier.
Settings:
• Thresholds for each tier (multiples of the time-of-day average)
• Fully customizable colors
• Toggle the readout on/off
Notes:
• Works best on intraday timeframes, since it groups volume by time of day.
• Averages build as the chart loads more bars of each time slot — give it history
for a stable read.
• Chart study only: it does not place trades, does not backtest, and has no entry,
stop, target, or position-sizing logic. Your entry, your risk. Not financial advice.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
📊 Falcon AI — automated Futures + Crypto signals · live PF 3.13 · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
📊 Falcon AI — automated Futures + Crypto signals · live PF 3.13 · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.