OPEN-SOURCE SCRIPT
Volume Z-Score
Volume Z-Score highlights candles with statistically unusual volume using a rolling z-score calculation.
The script compares each candle’s volume to the average volume over the selected lookback period, then measures how many standard deviations the current volume is above or below that average.
Candles are colored by volume deviation level:
- Z-score > 1, > 2, and > 3 for unusually high volume
- Z-score < -1, < -2, and < -3 for unusually low volume
The default lookback is 60 candles. Candle colors are fully customizable, and alerts are included for each high-volume and low-volume threshold.
The script compares each candle’s volume to the average volume over the selected lookback period, then measures how many standard deviations the current volume is above or below that average.
Candles are colored by volume deviation level:
- Z-score > 1, > 2, and > 3 for unusually high volume
- Z-score < -1, < -2, and < -3 for unusually low volume
The default lookback is 60 candles. Candle colors are fully customizable, and alerts are included for each high-volume and low-volume threshold.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.