OPEN-SOURCE SCRIPT
RVOL Color-Coded Volume
RVOL Color-Coded Volume Indicator
This tool visualizes volume intensity through color-coded bars in a separate panel, making it easy to identify significant market moves driven by unusual volume.
Key Features:
- Displays volume bars with varying colors and intensities based on RVOL (Relative Volume)
- Shows a customizable moving average line for volume reference
- Includes alert conditions for different RVOL thresholds
Color System:
Blue shades (Bullish):
- Light: Normal volume (RVOL < 1)
- Medium: Above average volume
- Dark: Heavy buying volume
- Solid: Extreme volume surge
Pink shades (Bearish):
- Light: Normal volume (RVOL < 1)
- Medium: Increased selling
- Dark: Heavy selling
- Solid: Extreme selling pressure
Gray shades (Neutral):
- Used when opening and closing prices are equal
- Intensity varies with RVOL level
Additional Features:
- Dotted threshold lines for easy reference
- Background highlighting for extreme volume events
- Data window shows exact RVOL values
- Multiple alert conditions for volume thresholds
The indicator helps traders spot potential trend changes and momentum shifts by highlighting unusual volume patterns without interfering with price analysis.
This tool visualizes volume intensity through color-coded bars in a separate panel, making it easy to identify significant market moves driven by unusual volume.
Key Features:
- Displays volume bars with varying colors and intensities based on RVOL (Relative Volume)
- Shows a customizable moving average line for volume reference
- Includes alert conditions for different RVOL thresholds
Color System:
Blue shades (Bullish):
- Light: Normal volume (RVOL < 1)
- Medium: Above average volume
- Dark: Heavy buying volume
- Solid: Extreme volume surge
Pink shades (Bearish):
- Light: Normal volume (RVOL < 1)
- Medium: Increased selling
- Dark: Heavy selling
- Solid: Extreme selling pressure
Gray shades (Neutral):
- Used when opening and closing prices are equal
- Intensity varies with RVOL level
Additional Features:
- Dotted threshold lines for easy reference
- Background highlighting for extreme volume events
- Data window shows exact RVOL values
- Multiple alert conditions for volume thresholds
The indicator helps traders spot potential trend changes and momentum shifts by highlighting unusual volume patterns without interfering with price analysis.
نص برمجي مفتوح المصدر
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.
For quick access on a chart, add this script to your favorites — learn more here.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
نص برمجي مفتوح المصدر
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.
For quick access on a chart, add this script to your favorites — learn more here.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.