RVOL Candle Colors [KRT]

20 cze 2024

RVOL Candle Colors [KRT] - Description

Overview:
This indicator paints the candlesticks based on Relative Volume (RVOL) thresholds. The colors help you easily identify different volume conditions in the market.

Features:
1. Length Input: Set the length of the period to calculate the average volume.
2. Multiplier Input: Adjust the RVOL multiplier for more customized volume analysis.
3. Threshold Levels: Three thresholds to differentiate volume conditions:
- Threshold 1: RVOL < 1.0
- Threshold 2: RVOL < 2.0
- Threshold 3: RVOL < 3.0

Candle Colors:
- Green: RVOL is below 1.0
- Yellow: RVOL is between 1.0 and 2.0
- Orange: RVOL is between 2.0 and 3.0
- Red: RVOL is above 3.0

Usage:
- The indicator colors the candles based on the relative volume compared to the average volume over the specified period.
- Helps you quickly see changes in trading volume and identify potential trading opportunities.

Inputs:
- Length: Number of periods to calculate the average volume.
- Multiplier: Adjust the RVOL multiplier for finer control over volume conditions.

How to Use:
1. Add the "RVOL Candle Colors [KRT]" indicator to your chart.
2. Adjust the "Length" and "Multiplier" inputs to your preference.
3. Observe the candle colors to identify different volume conditions:
- Green for low volume
- Yellow for moderate volume
- Orange for high volume
- Red for very high volume

This indicator helps traders quickly spot changes in market volume, which can be an early indicator of potential price movements.

10 maj

Informacje o Wersji

Adjusted the internal RVOL thresholds to capture 2025 market environment!