OPEN-SOURCE SCRIPT
Volume Spike - 2min
Volume Spike Detector (Market Hours Only)
Identifies significant volume spikes during regular market hours (9:30 AM – 4:00 PM ET) and marks them directly on your chart with a color-coded triangle.
A spike is flagged when the current bar's volume exceeds the rolling average of the previous 7 bars by 50% or more — filtering out the noise and highlighting only the bars where real participation is showing up.
Features:
Triangles plotted directly below the spike candle — no separate pane needed
Green triangle on bullish candles, red on bearish
Average is calculated using market hours bars only — pre-market volume never skews the signal
Fully adjustable lookback period and spike threshold via settings
Built-in alert condition
Settings:
Lookback Bars (default: 7) — how many prior bars to average
Spike Threshold (default: 2.2) — multiplier above average to qualify as a spike (1.5 = 50% above avg)
Best used on the 2-minute timeframe for intraday setups. Works well as a confirmation tool alongside price action, levels, or momentum indicators.
Identifies significant volume spikes during regular market hours (9:30 AM – 4:00 PM ET) and marks them directly on your chart with a color-coded triangle.
A spike is flagged when the current bar's volume exceeds the rolling average of the previous 7 bars by 50% or more — filtering out the noise and highlighting only the bars where real participation is showing up.
Features:
Triangles plotted directly below the spike candle — no separate pane needed
Green triangle on bullish candles, red on bearish
Average is calculated using market hours bars only — pre-market volume never skews the signal
Fully adjustable lookback period and spike threshold via settings
Built-in alert condition
Settings:
Lookback Bars (default: 7) — how many prior bars to average
Spike Threshold (default: 2.2) — multiplier above average to qualify as a spike (1.5 = 50% above avg)
Best used on the 2-minute timeframe for intraday setups. Works well as a confirmation tool alongside price action, levels, or momentum indicators.
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.