OPEN-SOURCE SCRIPT
RVol based Support & Resistance Zones

Description:
This indicator is designed to help traders identify significant price levels based on institutional volume. It monitors two higher timeframes (defined by the user) simultaneously. When a candle on these higher timeframes exhibits unusually high volume—known as high Relative Volume (RVol)—the indicator automatically draws a "Zone of Interest" box on your current chart.
These zones are defined by:
Key Features:
Settings Guide:
1. General Settings
2. Table Settings
3. Timeframe 1 & 2 Settings
You have two identical sections to configure two different timeframes (e.g., 30m and 1H).
This indicator is designed to help traders identify significant price levels based on institutional volume. It monitors two higher timeframes (defined by the user) simultaneously. When a candle on these higher timeframes exhibits unusually high volume—known as high Relative Volume (RVol)—the indicator automatically draws a "Zone of Interest" box on your current chart.
These zones are defined by:
- Up candle : from candle open to low of candle
- Down candle : from candle open to high of candle
Key Features:
- Multi-Timeframe Monitoring: You can trade on a lower timeframe (e.g., 5-minute) while the indicator monitors the 30-minute and 1-hour charts for volume spikes.
- RVol Boxes: Automatically draws boxes extending from high-volume candles.
- Up Candles: Box covers Low to Open.
- Down Candles: Box covers High to Open.
- Live Dashboard: A neat, color-coded table displays the current Volume, Average Volume, and RVol percentage for your watched timeframes.
- Real-Time vs. Confirmed: Choose whether to see boxes appear immediately as volume spikes (Live) or only after the candle has closed and confirmed the volume (Candle Close).
Settings Guide:
1. General Settings
- Relative Volume Length: The number of past candles used to calculate the "Average Volume." (Default is 20).
- Max Days Back to Draw: To keep your chart clean, this limits how far back in history the script looks for high-volume zones. (e.g., set to 5 to only see zones created in the last 5 days).
- Draw Mode:
- Live (Real-time): Draws the box immediately if the current developing candle hits the volume threshold. (Note: The box may disappear if the volume average shifts before the candle closes).
- Candle Close: The box only appears once the candle has finished and permanently confirmed the volume spike.
2. Table Settings
- Show Info Table: Toggles the dashboard on or off.
- Text Size & Position: Customise where the table appears on your screen and how large the text is.
- Colours: Fully customisable colours for the Table Header (Top row) and Data Rows (Bottom rows).
3. Timeframe 1 & 2 Settings
You have two identical sections to configure two different timeframes (e.g., 30m and 1H).
- Timeframe: The chart interval to monitor (e.g., "30" for 30 minutes, "60" for 1 Hour, "240" for 4 Hours).
- Threshold %: The "Trigger" for drawing a box based on relative candle volume in that timeframe.
Example:
100% = Candle Volume is equal to the average volume for the specified timeframe.
200% = Candle Volume is 2x the average volume for the specified timeframe.
300% = Candle Volume is 3x the average volume for the specified timeframe. - Box & Edge Colour: Distinct colours for each timeframe so you can easily tell which timeframe created the zone.
開源腳本
秉持TradingView一貫精神,這個腳本的創作者將其設為開源,以便交易者檢視並驗證其功能。向作者致敬!您可以免費使用此腳本,但請注意,重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供,也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神,這個腳本的創作者將其設為開源,以便交易者檢視並驗證其功能。向作者致敬!您可以免費使用此腳本,但請注意,重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供,也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。