Volume Spike & RSI | Buy/Sell Signals

This indicator is designed for intraday traders who seek clean, actionable buy and sell signals using a blend of momentum (RSI) and volume analysis. It automatically detects momentum bursts based on the RSI crossing user-defined levels with a simultaneous volume spike—helping filter out weak or late signals. Signals are highlighted by discrete, color-coded arrows and non-overlapping labels for easy chart interpretation without clutter.

How it works

• Buy signal: Generated when the RSI crosses above your chosen “Buy Threshold” (default 60) AND the volume on that bar is above its 20-period average. This suggests strong momentum with real volume support.
  
• Sell signal: Generated when the RSI crosses below your chosen “Sell Threshold” (default 40) AND the volume on that bar is above average, signaling momentum loss or bearish pressure.
  

Visuals:

• Buy signals are illustrated by green upward labels/arrows beneath candles.
  
• Sell signals feature red downward labels/arrows above candles.
  
• All signals adjust spacing dynamically, so they never overlap the price bar.
  
• Bars are colored lime when momentum and volume are both high.
  

Customization

• Fully adjustable RSI “Buy” and “Sell” levels.
  
• Customizable sensitivity for the volume spike via the SMA period input.
  
• Label spacing can be tuned in settings so signals always remain visible, regardless of volatility.
  

Alerts

• Built-in alert conditions for both buy and sell events, compatible with TradingView’s native alerting system.
  

How to use

1. Add the indicator to your intraday chart (works on any timeframe).

2. When a buy or sell label/arrow appears, it marks a technical momentum burst with real volume conviction. Use these as actionable entries or exits—always manage risk with your personal trading plan.

3. Adjust parameters in the script’s settings as needed for your market or style.

Originality & credits

The logic and code were developed specifically for this script, combining classic RSI levels with volume confirmation and careful non-overlapping visual presentation to ensure clarity for intraday trading.

This tool is for educational and informational purposes only. It is not financial advice or a guarantee of performance. Always test on demo before using in live trading.