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.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
📊 Falcon AI — World's most transparent algo trading service ·Automated Futures strategies · 14-day Setup Guarantee. Free community & live results → thefalconai.com
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
📊 Falcon AI — World's most transparent algo trading service ·Automated Futures strategies · 14-day Setup Guarantee. Free community & live results → thefalconai.com
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.