Intraday RVOL Overlay: Time Of Day Relative VolumeIntraday RVOL Overlay — Time-of-Day Relative Volume
The purpose of this script is to provide a time-of-day adjusted intraday volume comparison while keeping the information visible on the main price chart, to do this, the indicator plots intraday relative volume directly on the price chart.
It is designed to answer one specific question:
Is today’s volume running above or below normal for this exact point in the trading session?
A standard volume moving average compares recent candles with other recent candles. That can be useful, but it does not account for the natural shape of intraday volume. Volume is usually heavier near the market open, quieter around midday, and may increase again near the close.
This script takes a different approach. It compares today’s cumulative intraday volume with the average cumulative volume at the same time of day over previous trading sessions.
For example, if the chart is at 14:45, the script compares today’s cumulative volume from the start of the session up to 14:45 with the average cumulative volume from the start of the session up to 14:45 over the selected lookback period.
The result is shown as an RVOL multiple.
How RVOL is calculated
RVOL = today’s cumulative intraday volume so far / average cumulative intraday volume by the same time of day.
Example:
Today cumulative volume: 4.05M
Average cumulative volume by this time: 6.30M
RVOL = 4.05M / 6.30M = 0.64x
This means the symbol is trading at around 64% of its normal cumulative volume for that point in the session.
What makes this script different
Instead of asking whether the current candle has high volume compared with the last few candles, it asks whether today’s total traded volume so far is high or low compared with what is normally expected at this stage of the session.
The script combines three ideas:
Cumulative intraday volume tracking
Historical same-time-of-day volume comparison
Price-chart overlay scaling
How to read the lines
The main RVOL line shows today’s cumulative intraday relative volume.
RVOL below 1.0x means volume is running below normal
RVOL around 1.0x means volume is running around normal
RVOL above 1.5x means volume is meaningfully above average
RVOL above 2.0x means volume is unusually strong
The script also plots reference lines for average volume and high volume.
If the RVOL line is below the 1.0x line, today’s cumulative volume is below average for this point in the session.
If the RVOL line is above the 1.5x line, today’s cumulative volume is meaningfully above average for this point in the session.
Important note about price scaling
RVOL is a ratio, not a price.
Because this script is plotted as an overlay on the main price chart, the RVOL values are visually mapped into a small band inside the recent price range.
This means the price-axis values shown beside the RVOL plots are only visual placement values. They are not support levels, resistance levels, targets, or actual price signals.
The overlay is price-scaled only so the RVOL information can be viewed directly alongside price action without requiring a separate indicator pane.
Inputs
Average over previous trading days : controls how many prior trading sessions are used to calculate the average cumulative volume baseline
Price scaling lookback bars : controls the recent price range used to place the RVOL overlay band on the chart
RVOL value plotted at top of band : controls the visual cap for the overlay. For example, with a cap of 3.0, RVOL values of 3.0x or higher are plotted at the top of the visual band
Overlay band position : allows the RVOL band to be placed near the top or bottom of the price chart
Overlay band height : controls how much vertical space the RVOL overlay uses inside the price chart
Fallback search minutes : allows the script to look backwards for nearby historical volume slots when exact same-minute data is missing
Suggested use
This indicator is intended for intraday charts.
Recommended chart timeframes:
5 minute
15 minute
1 hour
Supported chart timeframes:
Intraday charts from 1 minute upward
Not supported:
Seconds charts
Daily charts
Weekly charts
Monthly charts
Practical interpretation
This script can help give volume context to intraday price movement.
A price move with RVOL below 1.0x may be happening on weaker-than-normal participation
A price move with RVOL above 1.5x may have stronger-than-normal participation
A breakout attempt with RVOL above 2.0x may be occurring during unusually active trading
This does not mean the move will continue. It only shows whether volume participation is above or below normal for that time of day.
Limitations
This script works best on liquid symbols with regular intraday trading activity.
Results may be affected by:
Extended-hours data
Half trading days
Market holidays
Trading halts
Low-liquidity symbols
Missing historical bars
Unusual trading sessions
Symbols with irregular volume patterns
The script does not generate buy or sell signals.
It should be used as a volume context tool alongside price action, trend, liquidity, volatility, and risk management.
Disclaimer
This script is provided for educational and research purposes only.
It is not financial advice.
It does not predict price direction and should not be used as the sole basis for trading decisions.
Indicator
Intraday RVOL Overlay: Time-of-Day Relative Volume
## Intraday RVOL Overlay — Time-of-Day Relative Volume
This indicator plots intraday relative volume directly on the price chart.
It is designed to answer a specific question:
Is today’s volume running above or below normal for this exact point in the trading session?
A standard volume moving average compares recent candles with other recent candles. That can be useful, but it does not account for the natural shape of intraday volume. Volume is usually heavier near the market open, often quieter around midday, and may increase again near the close.
This script takes a different approach. It compares today’s cumulative intraday volume with the average cumulative volume at the same time of day over previous trading sessions.
For example, if the chart is at 14:45, the script compares:
today’s cumulative volume from the start of the session up to 14:45
with
the average cumulative volume from the start of the session up to 14:45 over the selected lookback period
The result is shown as an RVOL multiple.
How RVOL is calculated
The script calculates:
RVOL = today’s cumulative intraday volume so far / average cumulative intraday volume by the same time of day
Example:
Today cumulative volume: 4.05M
Average cumulative volume by this time: 6.30M
RVOL = 4.05M / 6.30M = 0.64x
This means the symbol is trading at around 64% of its normal cumulative volume for that point in the session.
What makes this script different
This is not a basic volume moving average and it is not a standard RSI or moving-average crossover setup.
The original purpose of this script is to provide a time-of-day adjusted intraday volume comparison while keeping the information visible on the main price chart.
The script combines three ideas:
1. Cumulative intraday volume tracking
2. Historical same-time-of-day volume comparison
3. Price-chart overlay scaling
Instead of asking whether the current candle has high volume compared with the last few candles, it asks whether today’s total traded volume so far is high or low compared with what is normally expected at this stage of the session.
How to read the lines
The main RVOL line shows today’s cumulative intraday relative volume.
RVOL below 1.0x = volume is running below normal
RVOL around 1.0x = volume is running around normal
RVOL above 1.5x = volume is meaningfully above average
RVOL above 2.0x = volume is unusually strong
The script also plots reference lines:
1.0x average volume line
1.5x high-volume threshold line
If the RVOL line is below the 1.0x line, today’s cumulative volume is below average for this point in the session.
If the RVOL line is above the 1.5x line, today’s cumulative volume is meaningfully above average for this point in the session.
Important note about price scaling
RVOL is a ratio, not a price.
Because this script is plotted as an overlay on the main price chart, the RVOL values are visually mapped into a small band inside the recent price range.
This means the price-axis values shown beside the RVOL plots are only visual placement values. They are not support levels, resistance levels, targets, or actual price signals.
The overlay is price-scaled only so the RVOL information can be viewed directly alongside price action without requiring a separate indicator pane.
Inputs
Average over previous trading days
Controls how many prior trading sessions are used to calculate the average cumulative volume baseline.
Price scaling lookback bars
Controls the recent price range used to place the RVOL overlay band on the chart.
RVOL value plotted at top of band
Controls the visual cap for the overlay. For example, with a cap of 3.0, RVOL values of 3.0x or higher are plotted at the top of the visual band.
Overlay band position
Allows the RVOL band to be placed near the top or bottom of the price chart.
Overlay band height
Controls how much vertical space the RVOL overlay uses inside the price chart.
Fallback search minutes
Allows the script to look backwards for nearby historical volume slots when exact same-minute data is missing.
Suggested use
This indicator is intended for intraday charts.
Recommended chart timeframes:
5-minute
15-minute
1-hour
Supported chart timeframes:
Intraday charts from 1 minute upward
Not supported:
Seconds charts
Daily charts
Weekly charts
Monthly charts
Practical interpretation
This script can help give volume context to intraday price movement.
For example:
A price move with RVOL below 1.0x may be happening on weaker-than-normal participation.
A price move with RVOL above 1.5x may have stronger-than-normal participation.
A breakout attempt with RVOL above 2.0x may be occurring during unusually active trading.
This does not mean the move will continue. It only shows whether volume participation is above or below normal for that time of day.
Limitations
This script works best on liquid symbols with regular intraday trading activity.
Results may be affected by:
extended-hours data
half trading days
market holidays
trading halts
low-liquidity symbols
missing historical bars
unusual trading sessions
symbols with irregular volume patterns
The script does not generate buy or sell signals. It should be used as a volume context tool alongside price action, trend, liquidity, volatility, and risk management.
Disclaimer
This script is provided for educational and research purposes only. It is not financial advice. It does not predict price direction and should not be used as the sole basis for trading decisions.
Indicator
Volume Flow MatrixVolume Flow Matrix is a relative volume histogram that helps identify how strong or weak current market participation is compared to recent volume activity.
The indicator measures current volume against a fixed 300-bar volume baseline. Instead of showing raw volume only, it converts volume into a relative reading. This makes it easier to see whether the current candle is trading below average volume, around normal activity, with increased participation, or at an unusually high volume level.
On historical candles, the calculation uses completed candle volume. On the live candle, the indicator uses realtime volume projection. This means the current candle’s volume is estimated based on how much time has passed in the candle. As a result, the histogram can react during the candle instead of only after the candle closes.
The histogram is divided into five volume conditions:
Dry Volume shows candles with weak participation. These bars appear when relative volume is below 0.75. Dry volume can be useful for spotting quiet market phases, low-interest candles, or areas where price is moving without strong volume support.
Default Volume represents normal volume conditions. These candles do not meet the requirements for dry, directional, or extreme volume. Default volume helps separate ordinary market activity from more important volume events.
Bull Volume appears when relative volume is elevated and the candle also shows bullish pressure. For a candle to qualify as Bull Volume, relative volume must be at least 1.55, the candle must close above its open, and the close must be positioned in the upper part of the candle range. This can help highlight candles where stronger participation supports upward pressure.
Bear Volume appears when relative volume is elevated and the candle shows bearish pressure. For a candle to qualify as Bear Volume, relative volume must be at least 1.55, the candle must close below its open, and the close must be positioned in the lower part of the candle range. This can help highlight candles where stronger participation supports downward pressure.
Extreme Volume marks unusually high relative volume at or above 2.30. These candles show that volume is significantly above the recent baseline. Extreme Volume does not automatically mean bullish or bearish continuation. It should be read together with price location, candle structure, support and resistance, liquidity zones, or the broader market context.
Each candle is assigned to only one volume condition. The script checks the conditions in a fixed order so the histogram remains clean and does not stack multiple volume types on the same bar.
How to use it:
Use Dry Volume to identify low-participation areas where price movement may be less reliable.
Use Bull Volume and Bear Volume to confirm whether directional candles are supported by stronger participation.
Use Extreme Volume to mark important high-activity candles that may appear near breakouts, liquidity grabs, absorption areas, reversals, or strong continuation moves.
Use Default Volume as the neutral background state between low-volume and high-volume conditions.
Volume Flow Matrix does not provide trade entries or exits by itself. It is designed to support analysis by making volume behavior easier to read. The strongest use case is combining it with price action, market structure, key levels, liquidity, trend context, or any existing trading plan.
Indicator
Relative Volume multi-timeframe ( D, W, M)Relative Volume (RVOL) measures how active the market is compared to its normal volume. This indicator calculates RVOL on a selectable higher timeframe (Daily / Weekly / Monthly) and plots it as a column histogram, with colors matched to candle direction (bull/bear) either from the source timeframe or from the current chart timeframe.
What it calculates
RVOL is computed as:
RVOL = Current Volume (TF) ÷ SMA(Volume (TF), Lookback)
Where:
TF is the selected source timeframe: D, W, or M
Lookback is the number of TF bars used to compute the SMA baseline (default 30)
Interpretation:
RVOL = 1.0 → volume is equal to the average volume over the lookback period
RVOL > 1.0 → above-average activity (more participation than normal)
RVOL < 1.0 → below-average activity (less participation than normal)
Multi-timeframe behavior
The indicator uses higher-timeframe volume data regardless of the chart timeframe:
If you are on an intraday chart and TF = Daily, RVOL represents today’s accumulated daily volume so far compared to the average daily volume over the lookback period.
On Daily charts with TF = Daily, each bar represents a full day, so RVOL is the cleanest “day vs average day” comparison.
Weekly/Monthly modes work similarly, comparing the current week/month’s volume (or volume so far) to the average of prior weeks/months.
No forward-looking data is used (lookahead off).
Column coloring (candle-matched)
You can choose how RVOL columns are colored:
1) Source timeframe (D/W/M)
Colors are based on the candle direction of the selected TF:
Bullish TF candle (Close > Open) → bull color
Bearish TF candle (Close < Open) → bear color
Doji/neutral → neutral color
2) Chart timeframe
Colors are based on the current chart candles (your active timeframe), using the same bull/bear/doji logic.
This makes it easy to visually connect “unusual volume” with “which side controlled the candle” on the timeframe you care about.
Threshold guide lines
Horizontal levels are included to classify volume intensity at a glance:
1.0 = average volume baseline
1.2 = early elevated activity
1.5 = clearly above average
2.0 = strong participation
3.0 = high momentum / “power” activity
5.0 = extreme / climax-level activity
These are guides, not signals. RVOL measures participation, not direction or trend by itself.
How to use it
Use RVOL to identify periods where volume is meaningfully above average:
Confirm breakouts, trend continuation, or major reaction candles with elevated RVOL
Spot low-interest environments where moves are more likely to fade (low RVOL)
Combine with price structure (levels, ranges, trend) to distinguish accumulation/distribution vs “noise”
Notes / limitations
On intraday charts with TF = Daily/Weekly/Monthly, the current TF bar may be in progress, so RVOL reflects volume accumulated so far versus the average baseline. This is expected behavior.
The indicator does not generate buy/sell signals; it provides volume context for your existing strategy. Indicator
Daily RVOL (Raw) SMA/EMA + Surge Marker - TP## Daily RVOL (Raw) SMA/EMA + Surge Marker (TP)
This indicator helps you spot **unusual institutional-style participation** by measuring **Daily Relative Volume (RVOL)** and highlighting **sudden RVOL “surges”** compared to the prior day.
### What it shows
**RVOL (raw)** is a ratio:
**RVOL = Today’s Daily Volume ÷ Average Daily Volume (lookback)**
* **1.00x** = normal volume
* **1.50x** = ~50% above normal
* **2.00x** = ~2x normal
The “Average Daily Volume” baseline can be calculated using either:
* **SMA** (simple average), or
* **EMA** (faster-reacting average)
The baseline uses **completed daily bars only**, so it won’t be distorted by a partially completed day.
### Surge Marker (Circle)
The circle prints when **today’s RVOL jumps significantly vs yesterday’s RVOL**:
**RVOL Surge % = (RVOL Today ÷ RVOL Prev − 1) × 100**
So if your surge threshold is **80%**, the circle triggers when:
**RVOL Today ≥ 1.80 × RVOL Prev**
This is meant to detect **volume acceleration**—not just “high volume,” but a **step-change** in participation.
### How to use it (in plain English)
Think of RVOL as a **crowd-size meter**, and the surge circle as a **“big money showed up today”** alert.
It does **not** directly label buy vs sell—it highlights **participation**. Direction comes from price action and context.
### Bullish vs Bearish clues (price + volume together)
Use the circle as a clue, then read the candle and key levels:
**Potential bullish signs**
* Breakout/reclaim of resistance + surge circle (strong confirmation)
* Strong up day (wide range, closes near highs) + surge circle
* **High volume down-close that *does NOT* break lower lows** (holds support)
→ Often means selling pressure was absorbed and price held the line. This can be a **bullish “support/absorption” tell**, especially if the next day confirms with strength.
**Potential bearish signs**
* Breakdown below support + surge circle (distribution confirmation)
* Rejection at resistance on surge circle (supply showing up)
* **High volume up-close that *fails to make higher highs* / can’t push through resistance**
→ Often suggests buying effort was met by strong supply (selling into strength). This can be a **bearish “stall/failure” tell**, especially if the next day confirms with weakness.
### Suggested settings
* **RVOL Length:** 20 is a solid default
* **SMA vs EMA:**
* SMA = smoother baseline
* EMA = reacts faster to recent volume changes
* **Surge Threshold:**
* **80–150%** = rare “shock” participation (fewer, stronger signals)
* **40–80%** = balanced signals
* **10–40%** = more signals, more noise
### Best practice
Use RVOL + surge circles as **confirmation**, not a standalone entry/exit:
* Combine with trend, support/resistance, and candle structure.
* The surge circle says **“participation surged”**—price action tells you **whether it’s accumulation (support) or distribution (supply).**
*(Educational use only. Not financial advice.)*
Indicator
Indicator
Multi-TF Volume & Price Analysis[BullByte]This indicator offers a comprehensive view of market dynamics by combining volume and price analysis across multiple timeframes. It calculates key metrics—such as bullish/bearish volume percentages, relative volume (RVol), cumulative volume delta (CVD), and price change percentages—for each timeframe that you choose (for example, 1, 3, 5, and 15 minutes). Here are the main features in simple terms:
- Multi-Timeframe Analysis:
The tool analyzes volume and price action from four different timeframes simultaneously. This means you get insights from short-term and slightly longer-term trends in one view.
- Volume Breakdown:
It splits the volume into bullish and bearish parts by comparing closing and opening prices. This helps you see how much of the trading volume is driving the market upward versus downward.
- Relative Volume & Spike Detection:
It calculates relative volume (current volume compared to a moving average) and flags any significant volume spikes based on a customizable multiplier. This feature helps identify unusual trading activity.
- Volume Smoothing Option:
For a cleaner signal, you can enable a smoothing option (using an exponential moving average) to reduce noise in the volume data.
- Advanced Summary:
The indicator combines volume data, price changes, and volume spikes to produce an overall market summary for each timeframe—labeling conditions as “Bullish Strong,” “Bullish Moderate,” “Bearish Strong,” “Bearish Moderate,” or “Neutral.”
- Cumulative Overview:
In addition to individual timeframe analysis, it aggregates the data to offer a cumulative view. This includes a collective bullish/bearish percentage, overall CVD, and even a simplified volume level (Low, Normal, or High).
- Customizable Dashboard:
All these metrics are neatly displayed in a dashboard on the chart. You can customize its position and text size. The dashboard uses dynamic, color-coded cells to instantly convey the market sentiment—making it easy to spot trends at a glance.
- VWAP Integration:
Finally, the dashboard includes VWAP information, providing an additional layer of context to the price action.
Overall, this indicator is designed to provide a quick yet thorough snapshot of market conditions, enabling traders to make more informed decisions with a clear visual representation of volume and price activity across different timeframes. Indicator
Volume Breakout [Afnan]Introducing the Relative Volume / Volume Breakout Multiplier (RVI) , RVI is specifically designed for traders who incorporate volume breakout analysis into their trading strategies, particularly breakout traders.
This indicator provides a unique perspective on volume dynamics by quantifying the extent of volume breakouts in relation to the Simple Moving Average (SMA). It offers an upgraded version of the default volume indicator on PulseWire, with the added feature of Relative Volume.
For example, if the volume SMA is 100M and the current volume is 200M, the indicator will return a breakout number of 2.0, indicating that the current volume is twice that of the volume SMA. Conversely, if the volume SMA is 100M and the current volume is 50M, the indicator will return a value of 0.50, indicating that the current volume is half of the volume SMA.
This tool can be a very helpful for breakout traders, helping them identify potential trading opportunities and assess volume strength more effectively. this indicator is a must-have in the toolkit of any trader who focuses on volume breakout analysis.
Remember, every tool we use, every analysis we perform, is a step towards becoming better traders. So, let’s embrace this journey of continuous learning and improvement together. As the saying goes, “The only limit to our realization of tomorrow will be our doubts of today." Let’s step into the future with confidence, armed with the right tools and the right mindset.
Lastly, a big thank you for your support, your likes, and your comments. They mean a lot! If you have any questions, feel free to ask. Together, let’s make trading a rewarding experience!
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