Relative Volume Candle Shaderthis indicator is based on the work of M0rty's "candle color by volume z-score"
I've taken M0rty's indicator a few steps further to yield a wider range of outputs, showing both extreme high and extreme lows of volume in 2 gradients.
the brightness of the candle is based on the z-score. brighter candles have unusually high volume, and dimmer candles have unusually low volume.
Relativevolume
Swing stratégieSwing Analysis
Long: If above SMMA 100 and RSI and 2/3 conditions are met, then blue dot
If 3/3 conditions are met, then green dot
Short: If below SMMA 100 and RSI and 2/3 conditions are met, then yellow dot
If 3/3 conditions are met, then orange dot
Institutional Buying DetectorInstitutional Buying Detector
What It Does
Identifies genuine institutional buying patterns through multi-criteria analysis of price action and volume. Detects sustained accumulation periods that often precede significant price movements.
Key Features
6-filter validation system prevents false signals
Non-overlapping pattern detection ensures unique signals
Advanced volume analysis comparing institutional vs pre-period activity
Configurable detection parameters (35% gain, 60% green ratio defaults)
Professional visual design with clean lines and readable labels
Works across all timeframes with daily being most common
How It Works
The indicator uses a comprehensive detection system:
Cumulative Gain: 35%+ price increase over 3-19 day periods
Green Candle Ratio: 60%+ green days for sustained buying pressure
Red Candle Limits: Max 4% drop per red candle, max 2 consecutive reds
First Candle Filter: 2%+ gain required for pattern initiation
Volume Validation: Green candles > pre-leg average, red candles < green average
Non-Overlapping Logic: Each candle belongs to only one institutional period
Visual Output
Gray diagonal lines connecting pattern start to end points
Multi-line labels showing gain%, green ratio, and duration
Configurable label positioning (Above, Below, Center, Left, Right)
Optional compact format for cleaner charts
Configuration Options
Detection Parameters : Min gain (20-60%), green ratio (50-90%), red limits (2-10%)
Lookback Periods : Analysis range from 2-30 days
Volume Analysis : Enable/disable sophisticated volume filtering
Visual Settings : Line colors, text colors, label positions
Price Selection : Open/Low for start, High/Close for end prices
Volume Analysis Algorithm
// Pre-leg baseline calculation
preLegPeriod = lookbackDays before pattern start
avgPreLegVolume = SMA(volume, preLegPeriod)
// Validation logic
FOR each green candle: volume must exceed pre-leg average
FOR each red candle: volume must be below green candle average
Market Compatibility
All equity markets with reliable volume data
Daily timeframe recommended
Optimized for Indian stocks (NSE/BSE)
Works on stocks, ETFs with sufficient liquidity
Performance & Compliance
Pine Script v6 with latest optimizations
Memory efficient with 500 line/label limit handling
Bar replay compatible with no duplicate elements
Educational license with proper risk disclaimers
Important Notes
This indicator is for educational purposes only. Provides pattern analysis, not trading advice. Users should conduct their own research and implement proper risk management.
Turnover & Liquidity Dashboard With Nifty 50 RS Jitendrasummary of the indicator and its core logic
Turnover & Liquidity Dashboard With Nifty 50 RS Jitendra
📊 Purpose
This Pine Script dashboard provides a quick, tabular view of key liquidity and valuation metrics for any stock, highlighting how turnover and market cap metrics behave relative to their averages and comparing the stock’s performance with NIFTY50.
Setting Image
drive.google.com
⚙️ Core Components & Logic
1. 🧮 Market Cap Calculation
Formula:
marketCap = (Total Shares Outstanding × Close Price) / 1 Crore
2. 🔁 Turnover Calculation
turnover = Volume × Close / 1 Crore
It also computes:
Average Turnover over a user-defined SMA length (e.g., 20 days)
Turnover % Change from previous day
HTQ (Highest Turnover in Quarter)
TOMCAP = Turnover as % of Market Cap
1-Min Liquidity (optional): total traded value at 1-min resolution
3. 🟩 Conditional Color Coding
Turnover > Avg Turnover → Green background
Turnover % Change > 0 → Green background
Else → Red background
Used to quickly identify strength/weakness in liquidity.
4. 🧾 Table Display
Data shown in either vertical or horizontal layout
Table fields include:
Market Cap
Turnover
Avg Turnover
Turnover % Change
TOMCAP (Turnover Vs MarketCap)
1-Min Liquidity (if enabled)
5. 📈 Performance vs NIFTY50
Compares current stock’s return over a lookback period with NIFTY50’s return:
stockReturn = (close - close ) / close
niftyReturn = (niftyClose - niftyClose ) / niftyClose
perfVsNifty = stockReturn - niftyReturn
Shows "Outperform" if perfVsNifty > 0
"Underperform" if < 0, with appropriate background color.
Lookback Bar No : Denotes
Stock Vs Nifty Performance
1= 1 Day Stock Vs Nifty Performance
5 = 5 Day Stock Vs Nifty Performance
20= 1 Months Stock Vs Nifty Performance
✅ Use Cases
Evaluate liquidity trends quickly.
Identify stocks with unusual volume or turnover spikes.
Compare a stock’s momentum to NIFTY50 to spot relative strength/weakness.
Ideal for institutional-style screening dashboards or sector overviews.
Volume Spike Analyzer(SMA10-Based)📊 **Volume Spike Analyzer (SMA10-Based)**
This indicator highlights abnormal volume activity by comparing current volume to the 10-period Simple Moving Average (SMA) of volume. It helps traders visually identify unusual activity that may precede breakouts, reversals, or news-driven moves.
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🔧 **Features:**
• ✅ Colors volume bars:
• Green = Volume > SMA(10)
• Red = Volume ≤ SMA(10)
• ✅ Detects and labels spike levels:
• 🔶2x — Volume > 2x SMA(10)
• 🟢3x — Volume > 3x SMA(10)
• 🔴4x — Volume > 4x SMA(10)
• ✅ Built-in alerts for all 3 spike levels
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📈 **Best Use Cases:**
• Confirm breakouts with strong volume
• Detect accumulation/distribution
• Filter low-volume setups
• Combine with VWAP/EMA for directional confirmation
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⏱️ **Recommended Timeframes:**
• Intraday: 5m, 15m, 1h
• Also works on daily for swing trades
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🧠 **Pro Tips:**
• Use with VWAP or EMA(20/50/200) for confluence
• Add SMA(Volume, 10) to your price chart for quick correlation
• Combine with candle pattern detection for signal validation
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Time-Specific Volume AverageA volume indicator based on historic volume.
Checks for the average volume in the past few days at the same time of day. This helps you determine when there is truly volume in the markets.
We will see often see sustained volume above the average during a clear trend. If you see spikes in volume without it being sustained above the average, it is very likely that the trend will die off quickly.
This is very helpful in determining whether to trade based on a trend following system, or a range based system.
Settings are below:
Days to average: Number of days to look back(tradingview has limits depending on your plan)
SMA Length: Number of "volume averages" to look at. Keep this at 1 if you want the average volume at the exact moment in the day. If you increase it, will also average in the past few candles of "volume averages".
SMA Multiplier: Multiplies the SMA by this amount(helps to get higher quality trends)
Volume Spikes with EMA LabelVolume Spikes with EMA Label (by Emilio TRIUNFO)
Highlights significant volume surges by comparing real-time volume against a customizable EMA threshold multiplied by 1.5 (default).
Visually marks high-volume bars with colored labels on the chart to help identify strong market activity and trading opportunities.
Adjustable EMA length and multiplier allow flexibility for different strategies.
RVOL-TradingCore Functionality
1. Dual RVOL Approach for Entry Confirmation
The script calculates two kinds of RVOLs for up to four intraday timeframes:
RVOL1 (based on daily average volume):
Formula: current intraday volume / 21-day SMA of daily volume
RVOL2 (based on same-timeframe average):
Formula: current intraday volume / average of past N intraday volumes (default 14)
The logic:
High RVOL1 → indicates unusual volume relative to daily historical averages.
High RVOL2 → indicates volume spike compared to typical activity at that timeframe.
2. Entry Signal – CheckGreen Condition
A bullish "Green" condition is triggered if:
Gap-up open (Opening_Price > 0)
Day’s low remains above previous close (strict lowCheck condition)
RVOL1 exceeds set thresholds (default 5% for 3m, 7% for 5m)
RVOL2 exceeds set thresholds (default 100%)
This is a strict entry filter, ensuring both price action and volume align.
💰 Position Sizing Logic
When enabled, the script calculates position size using three stop-loss methods:
Fixed SL % (e.g., 3%)
Day’s Low (LOD) below entry candle
Previous Day’s Low (PDL) below entry candle
🔢 Formula:
plaintext
Copy
Edit
Position Size = totalRisk / (entryPrice × stopLoss%)
Then it estimates position value as % of ₹1L capital (hardcoded).
Outputs include:
Number of shares
% distance to SL
Position size in lakhs (L)
📋 RVOL Table Display
Displays in a table on the chart with the following columns:
Timeframe RVOL1 (%) RVOL2 (%) % Price Change Price SL % Position LOD-based Position PDL-based Position
Color coding helps identify which values meet thresholds.
📌 Customizable Inputs
✅ RVOL Inputs:
Days for SMA & historical volume (default: 21 & 14)
Timeframes: 3m, 5m, 15m, 60m (all configurable)
Thresholds for RVOL1, RVOL2, Gap %, and % price change
✅ Position Size Inputs:
Risk capital (default: ₹2500)
Enable/disable each SL type (SL %, LOD, PDL)
✅ Table Display:
Table size, color, location on chart
Enable/disable SL columns
🧩 Visual Elements
Draws horizontal levels for 5m/15m candle highs (if enabled)
Marks gap-up with a purple 'G' label
Color highlights on table cells for high RVOL or negative price moves
TA Pressure GaugeThe Pressure Gauge indicator is composed of two main plotted elements in Oscillator Mode: the Up/Down Volume Ratio (UDVR) as a histogram, and the Relative Strength (RS) Score as a continuous line. These two metrics work together to provide real-time insights into both volume momentum and relative performance.
The UDVR histogram measures the ratio of buying volume to selling volume. Specifically, if the current close is greater than the previous close, the volume for that bar is classified as up volume. If the current close is lower than the previous close, it’s classified as down volume. Over a 50-bar rolling window (or fewer if limited history exists), the sum of up volume is divided by the sum of down volume to calculate the UDVR. The result is normalized and plotted as vertical bars centered around a baseline value of 50. A UDVR value greater than 1 indicates bullish dominance—more buying than selling—while a value less than 1 indicates bearish pressure. The histogram bars are dynamically color-coded:
Lime or Green when the UDVR is rising and remains above 1, signaling increasing buying strength.
Red or Maroon when the UDVR is falling and below 1, indicating growing selling pressure.
The second component is the Relative Strength Score (RS Score), plotted as a line graph overlaid on the oscillator. This is calculated by dividing the current closing price of the selected asset by the closing price of a benchmark index (e.g., SPX). The result is normalized over a selectable lookback period—63 bars (3 months), 126 bars (6 months), or 251 bars (12 months)—and then converted into a value between 1 and 99. This RS line reflects how well the asset is performing compared to the broader market. When the RS Score is above 70, it indicates strong outperformance and leadership; below 30 suggests underperformance.
The true value of Oscillator Mode is in its ability to combine these two readings visually. When both the UDVR histogram is green and elevated, and the RS line is rising and above 70, it often indicates strong institutional accumulation and momentum—key ingredients for high-probability breakout or trend-following trades. This dual-layered confirmation system enables traders to cut through noise and focus on setups that align both in volume strength and market relative performance. The oscillator can be fully customized within the script to change colors, sizing, and input periods, making it flexible for various trading styles and timeframes.
Look at this textbook flag forming on ticker symbol WGS. The setup was clean, and the Pressure Gauge was already showing bullish signals.
Following the breakout, you can see how the move confirmed what the Pressure Gauge was indicating early on—strong buying pressure and clear relative strength.
Relative Volume Indicator (RVOL)Relative Volume Indicator (RVOL) is a powerful tool designed for intraday traders who want to quickly identify key areas of interest based on relative volume activity.
This indicator compares the current candle’s volume with the historical average volume over a customizable lookback period (default is 20). It highlights when volume is:
🔴 Below average
🟡 Average
🟢 Above average
🟣 Extremely high
⚙️ Customizable Settings:
Lookback period for average volume
Volume thresholds (average, above average, extreme)
Custom colors for each volume zone
🎯 Best suited for:
Scalping strategies
Breakout confirmation
Volume-based entries at key support/resistance levels
Spotting unusual or algorithmic trading activity
📈 Works across all timeframes.
🎨 Fully customizable from the settings panel.
🔔 Alerts coming in future versions.
VWAP Adaptive (RelVol-Adjusted)This indicator provides an Adaptive VWAP that adjusts volume weighting using RelVol (Relative Volume at Time), offering a more accurate and context-aware price reference during sessions with irregular volume behavior.
Classic VWAP calculates the average price weighted by raw volume, without considering the time of day. This becomes a serious limitation during major market events such as CPI releases, FOMC announcements, NFP, or large-cap earnings. These events often trigger massive volume spikes within one or two candles. As a result, the classic VWAP gets pulled toward those extreme prices and becomes permanently skewed for the rest of the session.
In such conditions, classic VWAP becomes unreliable. It no longer reflects fair value and often misleads traders relying on it for dynamic support, resistance, or reversion signals.
This Adaptive VWAP improves on that by using RelVol, which compares the current volume to the average volume seen at the same time over previous sessions. It gives more weight to price when volume is typical for that moment, and adjusts the influence when volume is statistically abnormal. This reduces the impact of isolated volume spikes and stabilizes the VWAP path, even in high-volatility environments.
For example, on SPY 1-minute or 5-minute charts during a CPI release, a massive spike in volume and price can occur within a single candle. Classic VWAP will immediately anchor itself to that spike. Adaptive VWAP using RelVol softens that effect and maintains a more realistic trajectory.
Key features:
- Adaptive VWAP weighted by time-adjusted Relative Volume (RelVol)
- Designed to maintain VWAP reliability during macroeconomic events
- Flexible anchoring: Session, Week, Month, Quarter, Earnings, etc.
- Optional display of Classic VWAP for comparison
- Up to 3 customizable deviation bands (standard deviation or percentage)
This tool is ideal for intraday traders who need a VWAP that remains usable and unbiased, even in volatile sessions. It adds robustness to VWAP-based strategies by incorporating time-sensitive volume normalization.
VOL & AVG OverlayCustom Session Volume Versus Average Volume
Description:
This indicator will create an overlay on your chart that will show you the following information:
Custom Session Volume
Average For Selected Session
Percentage Comparison
Options:
Set Custom Time Frame For Calculations
Set Custom Time Frame For Average Comparison
Set Custom Time Zone
Enable / Disable Each Value
Change Text Color
Change Background Color
Change Table location
Example:
Set indicator to 30 period average. Set custom time frame to 9:30am to 10:30am Eastern/New York.
When the time frame for the calculation is closed , the indicator will provide a comparison of the current days volume compared to the average of 30 previous days for that same time frame and display it as a percentage in the table.
In this example you could compare how the first hour of the trading day compares to the previous 30 day's average, aiding in evaluating the potential volume for the remainder of the day.
Notes:
Times must be entered in 24 hour format. (1pm = 13:00 etc.)
This indicator is for Intra-day time frames, not > Day.
If you prefer data in this format as opposed to a plotted line, check out my other indicator: ADR & ATR Overlay
On Balance Volume W DivergenceOBV With Divergence Indicator
A comprehensive On Balance Volume (OBV) indicator enhanced with divergence detection capabilities.
Core Features:
Classic OBV calculation with volume-based price movement tracking
Advanced divergence detection system
Multiple smoothing options for OBV
Bollinger Bands integration
Technical Components:
Volume-based price movement analysis
Pivot point detection for divergence
Customizable lookback periods
Adjustable divergence range parameters
Customization Options:
Multiple Moving Average types (SMA, EMA, SMMA, WMA, VWMA)
Bollinger Bands with adjustable standard deviation
Divergence sensitivity settings
Visual customization for signals and alerts
The indicator combines traditional OBV analysis with modern divergence detection, offering traders a powerful tool for identifying potential trend reversals and market momentum shifts.
Key Parameters:
- Pivot Lookback Right/Left: 5 (default)
- Divergence Range: 5-60 bars
- MA Length: 14 (default)
- BB StdDev: 2.0 (default)
Alert System:
- Bullish divergence alerts
- Bearish divergence alerts
- Customizable alert messages
Note: The indicator requires volume data to function properly and will display an error if volume data is not available.
Smart Money Volume by P4 ProviderSmart Money Volume by P4 Provider is a proprietary volume-based tool designed to identify institutional activity across major trading sessions (Asian, London, and New York) with precision. It combines classical Volume Spread Analysis (VSA) with dynamically calculated session-wise volume averages , tracked in real-time on 1-minute and 5-minute charts.
Built for serious traders, this indicator highlights:
High-Volume Nodes: Automatically marks the highest volume bar of the day with a horizontal level.
Session-Based Volume Intelligence: Tracks and averages volume spikes during key sessions using both M1 and M5 granularities.
Smart Institutional Footprint: Reveals session-specific average volume levels via colored horizontal lines (Green for Asian, Purple for London, Red for NY).
Volume Strength Color Coding: Visualizes bullish/bearish volume intensity via dynamic bar coloring.
Ideal for scalpers, intraday traders, and smart money trackers seeking to align with institutional footprints.
Important Notes:
Time Zone Setup Required: Please adjust the UTC offset in the script according to your local time for accurate session alignment.
Optimized for 1-minute and 5-minute charts only.
For educational and analytical use. Not a buy/sell signal generator.
Developed by P4 Provider , this tool is part of a broader ecosystem focused on elite trading tools powered by real market behavior.
Volume Intelligence Suite (VIS) v2📊 Volume Intelligence Suite – Smart Volume, Smart Trading
The Volume Intelligence Suite is a powerful, all-in-one TradingView indicator designed to give traders deeper insight into market activity by visualizing volume behavior with price action context. Whether you're a scalper, day trader, or swing trader, this tool helps uncover hidden momentum, institutional activity, and potential reversals with precision.
🔍 Key Features:
Dynamic Volume Zones – Highlights high and low volume areas to spot accumulation/distribution ranges.
Volume Spikes Detector – Automatically marks abnormal volume bars signaling potential breakout or trap setups.
Smart Delta Highlighting – Compares bullish vs bearish volume in real time to reveal buyer/seller strength shifts.
Session-Based Volume Profiling – Breaks volume into key trading sessions (e.g., London, New York) for clearer context.
Volume Heatmap Overlay – Optional heatmap to show intensity and velocity of volume flow per candle.
Custom Alerts – Built-in alerts for volume surges, divergences, and exhaustion signals.
Optimized for Kill Zone Analysis – Pairs perfectly with ICT-style session strategies and Waqar Asim’s trading methods.
🧠 Why Use Volume Intelligence?
Most traders overlook the story behind each candle. Volume Intelligence Suite helps you "see the why behind the move" — exposing key areas of interest where smart money may be active. Instead of reacting late, this tool puts you in position to anticipate.
Use it to:
Validate breakouts
Detect fakeouts and liquidity grabs
Confirm bias during kill zones
Analyze volume divergence with price swings
⚙️ Fully Customizable:
From volume thresholds to visual styles and session timings, everything is user-adjustable to fit your market, timeframe, and strategy.
✅ Best For:
ICT/Smart Money Concepts (SMC) traders
Breakout & reversal traders
Kill zone session scalpers
Institutional footprint followers
Rogue ORB PRORogue ORB Pro is a precision-engineered Opening Range Breakout (ORB) indicator built for active intraday traders who need real signals, not noise.
This tool identifies high-probability breakout entries from the opening range, enhanced with optional ATR-based stop loss levels, deviation targets, cooldown filters, and a relative volume gate to filter weak setups.
🔍 Key Features:
Opening Range High/Low: Drawn from a user-defined time window and locked for the day
Deviations: Automatically plots target zones above and below the OR range (e.g. 1, 2 deviations)
Pre-Market Levels: Automatically draws pre market high and low lines at the end of pre market session
Buy/Sell Signals: Triggered on breakout of the OR High/Low with configurable breakout logic (touch or close)
ATR Stop Loss Line: Dynamically drawn at a fixed ATR distance from breakout candle, with optional SL label
Cooldown Period: Prevents back-to-back signals by enforcing a user-defined bar delay between entries, can help with overtrading
Volume Filter: Optional relative volume filter that requires breakout candles to exceed a custom volume threshold
VWAP Overlay: Visual VWAP for directional bias and confluence
RVOL Effort Matrix💪🏻 RVOL Effort Matrix is a tiered volume framework that translates crowd participation into structure-aware visual zones. Rather than simply flagging spikes, it measures each bar’s volume as a ratio of its historical average and assigns to that effort dynamic tiers, creating a real-time map of conviction , exhaustion , and imbalance —before price even confirms.
⚖️ At its core, the tool builds a histogram of relative volume (RVOL). When enabled, a second layer overlays directional effort by estimating buy vs sell volume using candle body logic. If the candle closes higher, green (buy) volume dominates. If it closes lower, red (sell) volume leads. These components are stacked proportionally and inset beneath a colored cap line—a small but powerful layer that maintains visibility of the true effort tier even when split bars are active. The cap matches the original zone color, preserving context at all times.
Coloration communicates rhythm, tempo, and potential turning points:
• 🔴 = structurally weak effort, i.e. failed moves, fake-outs or trend exhaustion
• 🟡 = neutral volume, as seen in consolidations or pullbacks
• 🟢 = genuine commitment, good for continuation, breakout filters, or early rotation signals
• 🟣 = explosive volume signaling either climax or institutional entry—beware!
Background shading (optional) mirrors these zones across the pane for structural scanning at a glance. Volume bars can be toggled between full-stack mode or clean column view. Every layer is modular—built for composability with tools like ZVOL or OBVX Conviction Bias.
🧐 Ideal Use-Cases:
• 🕰 HTF bias anchoring → LTF execution
• 🧭 Identifying when structure is being driven by real crowd pressure
• 🚫 Fading green/fuchsia bars that fail to break structure
• ✅ Riding green/fuchsia follow-through in directional moves
🍷 Recommended Pairings:
• ZVOL for statistically significant volume anomaly detection
• OBVX Conviction Bias ↔️ for directional confirmation of effort zones
• SUPeR TReND 2.718 for structure-congruent entry filtering
• ATR Turbulence Ribbon to distinguish expansion pressure from churn
🥁 RVOL Effort Matrix is all about seeing—how much pressure is behind a move, whether that pressure is sustainable, and whether the crowd is aligned with price. It's volume, but readable. It’s structure, but dynamic. It’s the difference between obeying noise and trading to the beat of the market.
Triple EMA + Volume/Price SignalsOverview
This script merges three exponential moving averages (EMA) with adaptive volume thresholds to identify high-confidence trends. Unlike basic volume indicators, it triggers signals only when volume exceeds both a user-defined absolute value (e.g., 500k) and a percentage increase (e.g., 5%) – reducing noise in volatile markets.
Key Features
Triple EMA System:
Short (9), Medium (21), and Long (50) EMAs for trend direction.
Bullish Signal: Short EMA > Medium EMA > Long EMA.
Bearish Signal: Short EMA < Medium EMA < Long EMA.
Dual-Threshold Volume Confirmation:
Absolute Volume: Highlight bars where volume exceeds X (e.g., 500,000).
Percentage Increase: Highlight bars where volume rises by Y% (e.g., 5%) vs. prior bar.
Users can enable/disable either threshold.
Customizable Alerts:
Trigger alerts only when both EMA alignment and volume conditions are met.
How It Works
Trend + Volume Synergy:
A bullish EMA crossover alone might be a false breakout. This script requires additional volume confirmation (e.g., 500k volume + 5% spike) to validate the move.
Flexibility: Adjust thresholds for different assets:
Stocks: Higher absolute volume (e.g., 1M shares).
Crypto: Smaller absolute volume but larger % spikes (e.g., 10%).
Usage Examples
Swing Trading:
Set EMA lengths to 20/50/200 and volume thresholds to 500k + 5% on daily charts.
Scalping:
Use 5/13/21 EMAs with 100k volume + 3% spikes on 5-minute charts.
Premarket VolumeTimeframe: Use on intraday charts (e.g., 1-minute, 5-minute) with extended hours enabled.
Behavior: The plot will appear at 4:00 AM, grow as volume accumulates, and disappear at 9:30 AM each day.
Relative Volume at TimeThe Relative Volume at Time indicator (RVOL) is a simple modification of the original Relative Volume at Time script available in TradingView’s public library. It doesn’t change how the indicator works but includes two small adjustments:
Added Color Options – The ability to customize the colors of the volume bars, which was important to me as I use this indicator all the time and wanted more visually suitable colors.
Renamed Short Title – The abbreviation "RVOL" replaces "RelVol", as it's a more commonly used term in trading.
Aside from these small tweaks, the indicator retains all of its original functionality, including the ability to set an anchor timeframe, choose between Regular and Cumulative volume calculation modes, and adjust unconfirmed volume for incomplete bars.
This version exists simply because I needed a more personalized display for an indicator that I rely on daily.
How It Works
The Relative Volume at Time indicator compares the current volume to the average volume at the same time in previous sessions. This helps determine if today’s activity is higher or lower than usual.
Examples
On a daily chart (1D timeframe, length = 10), each volume bar compares today's volume to the average volume at the same time over the last 10 days. If today’s volume is higher than usual at this moment, the bar will reflect that.
On an hourly chart (1H timeframe, length = 5), each hourly volume bar compares the current hour’s volume to the same hour in the past 5 days. If the 10 AM bar is high, it means today's 10 AM volume is greater than the average of the past 5 sessions at 10 AM.
On a weekly chart (1W timeframe, length = 8), the indicator compares this week’s volume to the average of the last 8 weeks. A higher bar means this week is seeing significantly more volume than usual.
This logic applies to any timeframe. It always compares the current volume to past volumes at the same point in time.
@Julien_Eche
RELATIVE VOLThis script, titled "Relative Vol," is designed to visualize and analyze volume data on TradingView. It calculates and displays the relative volume based on the average volume over a set lookback period, with volume expressed as a percentage of the average. Key features include:
Volume Percentage Calculation: The script calculates the volume percentage relative to the average volume over a specified lookback period (default of 20). It compares the current volume to the historical average and plots it as a percentage on the chart.
Volume Color Coding: The bars are color-coded based on the relationship between price action and volume:
Bullish volume above average: Green
Bearish volume above average: Red
Bullish volume below average: Light gray
Bearish volume below average: Dark gray
Daily Data Integration: It pulls in daily average volume and daily Average True Range (ATR) data:
Displays the daily average volume and ATR values in a table on the top-right of the chart.
Colors in the table reflect whether the daily average volume is high (greater than 1,000,000) and if the daily ATR is above 2.
Custom Timeframe Calculation: The script adjusts the lookback period and volume calculation based on the timeframe of the chart (1-minute, 5-minute, 15-minute, 30-minute, 60-minute, or daily).
This script provides traders with a visual representation of relative volume, helping them identify whether current trading activity is above or below average and how it correlates with price movement. Additionally, the integration of daily volume and ATR data helps assess overall market volatility and liquidity trends.
Valorous VolumesIndicator to mark the significant Volumes:
HVE: Checks if the current volume sets a new overall record.
HVY: Checks if the current volume equals the highest volume over the past one year.
HVQ: Checks if the current volume equals the highest volume over the past three months.
Zanger Volume Ratio (ZVR)Zanger Volume Ratio (ZVR)
Credits:
Most of the underlying code and logic in this script have been adapted from the work originally published by The_Peaceful_Lizard
Overview
The Zanger Volume Ratio (ZVR) is a powerful indicator designed to reveal market dynamics by comparing current cumulative volume to an average determined over a historical look-back period. It uses the concept of relative volume to not only highlight unusual volume spikes, but also uses color to illustrate how today's trading compares to typical levels. This unique method of volume analysis was popularized by Dan Zanger - a trader known for turning $10,775 into $18,000,000 in less than two years - by identifying key shifts in market interest and volume behavior.
Key Features
Volume Pacing Analysis:
The script calculates a volume delta by comparing the cumulative volume at any given moment to an average derived over a user-defined lookback period (Default 20-day). The resulting percentage difference offers a clear visualization and insight into unusual volume activity.
Dynamic Visual Representation:
Choose between either “Columns” or “Area” plot styles to display the percent difference. Additionally, you have the option to switch between a standard plot or a background color display, with customizable transparency, ensuring the indicator fits seamlessly with your chart’s aesthetics.
Dashboard Integration:
A simple dashboard table is displayed on the chart, showcasing the current ZVR value in real-time. With user-configurable position, text size, alignment, and color options, this feature ensures that the key metric is always visible and easy to interpret.
Why Use the Zanger Volume Ratio?
The ZVR is more than just a volume indicator. It acts as a window into market sentiment by highlighting days when trading interest intensifies. Many traders believe that an unusually high volume ratio may confirm trend strength or signal a reversal, making the indicator a valuable tool when used in conjunction with other technical analysis methods.
Whether you’re monitoring stocks, commodities, or forex markets, the Zanger Volume Ratio offers an accessible yet sophisticated method to decode volume dynamics. Its practical design and real-time visual feedback provide traders of all experience levels with critical data to spot high-potential setups.
Chart Description
First Pane: normal Volume Indicator on the foreground, ZVR as Background colors
Second Pane: ZVR Indicator with Column Style (default)
First panel: normal volume indicator in foreground, ZVR as background colors
Second panel: ZVR indicator with column style (default)
Note: This indicator is intended for use on intraday charts only!
