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OPEN-SOURCE SCRIPT
Updated

Relative Volume Candles

621
Visualizes candlesticks with transparency based on volume relative to a moving average. Higher-than-average volume makes candles more opaque, while lower volume increases transparency—helping you spot significant price movements at a glance!

Features:
  • Customizable up/down candle colors (default: green/red)
  • Adjustable lookback period for volume averaging (default: 21)
  • Fine-tune transparency with base transparency (default: 80) and scale (default: 2.0)
  • Overlay directly on your chart for seamless analysis
Release Notes
v 1.0
Release Notes
V2.0
- Noise reduction
- Improve volume comparison accuracy
Release Notes
Update indicator thumbnail
Release Notes
V2.1
- Better status line showing transparency level in %
- UX improvement for parameter inputs

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.

Syck0
Also on:
Candlestick analysisChart patternseducational

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.
Candlestick analysisChart patternseducational

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.

Syck0
Also on:

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.