RVOL Candle Colors [KRT]

2024年6月20日

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.

5月10日

版本注释

Adjusted the internal RVOL thresholds to capture 2025 market environment!