OPEN-SOURCE SCRIPT
RVOL Candles | Falcon AI
Tints each candle by its relative volume, measured against the average volume for that SAME TIME OF DAY over a rolling window of prior sessions.
That is the part that makes it different from a plain volume average. Intraday volume is seasonal: heavy at the open and into the close, thin around midday. Compare a 10:00 bar against a flat all-day average and every open looks like a spike, because the average is dragged down by the quiet hours. Compare that 10:00 bar only against previous 10:00 bars and you get a like-for-like read, so a genuine surge stands out and a busy-looking open that is merely normal does not.
Candles are shaded across four tiers: below-elevated, Elevated, High and Extreme, each a configurable multiple of that time-slot average. Extreme bars can also carry a marker and an optional RVOL value label.
On daily and higher timeframes there is no time-of-day seasonality to correct for, so the script falls back to a simple rolling volume average.
Settings: lookback in sessions, the three tier multiples, recolor-everything or only-elevated, colours, extreme marker on/off, value label on/off, watermark position.
Notes on honesty: the current forming bar is never pushed into the historical average, so the reading does not contaminate its own baseline. Volume quality depends on your data feed, and symbols with no volume data show no tint.
This script does NOT place trades, does NOT backtest, and contains no entry, stop, target or position-sizing logic. It is a volume study and nothing more. Your entry, your risk.
Educational tool only. Not financial advice. High volume on its own is not a signal.
That is the part that makes it different from a plain volume average. Intraday volume is seasonal: heavy at the open and into the close, thin around midday. Compare a 10:00 bar against a flat all-day average and every open looks like a spike, because the average is dragged down by the quiet hours. Compare that 10:00 bar only against previous 10:00 bars and you get a like-for-like read, so a genuine surge stands out and a busy-looking open that is merely normal does not.
Candles are shaded across four tiers: below-elevated, Elevated, High and Extreme, each a configurable multiple of that time-slot average. Extreme bars can also carry a marker and an optional RVOL value label.
On daily and higher timeframes there is no time-of-day seasonality to correct for, so the script falls back to a simple rolling volume average.
Settings: lookback in sessions, the three tier multiples, recolor-everything or only-elevated, colours, extreme marker on/off, value label on/off, watermark position.
Notes on honesty: the current forming bar is never pushed into the historical average, so the reading does not contaminate its own baseline. Volume quality depends on your data feed, and symbols with no volume data show no tint.
This script does NOT place trades, does NOT backtest, and contains no entry, stop, target or position-sizing logic. It is a volume study and nothing more. Your entry, your risk.
Educational tool only. Not financial advice. High volume on its own is not a signal.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
📊 Falcon AI — World's most transparent algo trading service ·Automated Futures strategies · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
📊 Falcon AI — World's most transparent algo trading service ·Automated Futures strategies · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.