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 open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
📊 Falcon AI — automated Futures + Crypto signals · live PF 3.13 · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
📊 Falcon AI — automated Futures + Crypto signals · live PF 3.13 · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.