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.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
📊 Falcon AI — automated Futures + Crypto signals · live PF 3.13 · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
📊 Falcon AI — automated Futures + Crypto signals · live PF 3.13 · 14-day Setup Guarantee. Free community & live results → thefalconai.com
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.