OPEN-SOURCE SCRIPT
ARVELOV Volume Squares: Current + Previous Candles
This indicator is a volume visualization tool that displays the most recent three candle volumes in a compact table on the chart. Instead of looking at the volume bars in the bottom pane, you get the values right on the price chart in a colored, easy-to-read format.
Here’s how it works:
📊 What It Shows
Current Candle Volume (latest bar)
Previous Candle Volume (1 bar ago)
Previous-Previous Candle Volume (2 bars ago)
Each of these is displayed as a row in a floating table on the chart (top-right corner).
🎨 Color Coding
Default Color (red) → Current bar if volume is below threshold.
Prev Color (gray) → Previous bars if volume is below threshold.
Hit Color (green) → Any bar where volume is greater than or equal to the chosen threshold.
This makes it instantly clear if the current or recent candles had unusually high volume.
⚙️ Settings
Current Candle Background Color → customize the default color.
Hit Color → choose how a "high volume" candle background looks.
Previous Candle Background Color → customize previous candles.
Text Color → control how the volume numbers are displayed.
Volume Threshold (editable) → default is 450, but you can set any number from the indicator menu.
✅ Use Case
This indicator is useful when you want to:
Quickly spot candles with significant volume spikes.
Compare the last few bars to see if volume is rising or falling.
Avoid having to read volume bars from the lower pane (especially helpful on smaller screens).
Here’s how it works:
📊 What It Shows
Current Candle Volume (latest bar)
Previous Candle Volume (1 bar ago)
Previous-Previous Candle Volume (2 bars ago)
Each of these is displayed as a row in a floating table on the chart (top-right corner).
🎨 Color Coding
Default Color (red) → Current bar if volume is below threshold.
Prev Color (gray) → Previous bars if volume is below threshold.
Hit Color (green) → Any bar where volume is greater than or equal to the chosen threshold.
This makes it instantly clear if the current or recent candles had unusually high volume.
⚙️ Settings
Current Candle Background Color → customize the default color.
Hit Color → choose how a "high volume" candle background looks.
Previous Candle Background Color → customize previous candles.
Text Color → control how the volume numbers are displayed.
Volume Threshold (editable) → default is 450, but you can set any number from the indicator menu.
✅ Use Case
This indicator is useful when you want to:
Quickly spot candles with significant volume spikes.
Compare the last few bars to see if volume is rising or falling.
Avoid having to read volume bars from the lower pane (especially helpful on smaller screens).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.