RVol based Support & Resistance Zones

3. Dez.

Description:
This indicator is designed to help traders identify significant price levels based on institutional volume. It monitors two higher timeframes (defined by the user) simultaneously. When a candle on these higher timeframes exhibits unusually high volume—known as high Relative Volume (RVol)—the indicator automatically draws a "Zone of Interest" box on your current chart.

These zones are defined by:

• Up candle : from candle open to low of candle
  
• Down candle : from candle open to high of candle
  

Key Features:

1. Multi-Timeframe Monitoring: You can trade on a lower timeframe (e.g., 5-minute) while the indicator monitors the 30-minute and 1-hour charts for volume spikes.
   
2. RVol Boxes: Automatically draws boxes extending from high-volume candles.
   
3. Up Candles: Box covers Low to Open.
   
4. Down Candles: Box covers High to Open.
   
5. Live Dashboard: A neat, color-coded table displays the current Volume, Average Volume, and RVol percentage for your watched timeframes.
   
6. Real-Time vs. Confirmed: Choose whether to see boxes appear immediately as volume spikes (Live) or only after the candle has closed and confirmed the volume (Candle Close).
   

Settings Guide:
1. General Settings

• Relative Volume Length: The number of past candles used to calculate the "Average Volume." (Default is 20).
  
• Max Days Back to Draw: To keep your chart clean, this limits how far back in history the script looks for high-volume zones. (e.g., set to 5 to only see zones created in the last 5 days).
  
• Draw Mode:
  - Live (Real-time): Draws the box immediately if the current developing candle hits the volume threshold. (Note: The box may disappear if the volume average shifts before the candle closes).
  - Candle Close: The box only appears once the candle has finished and permanently confirmed the volume spike.
  

2. Table Settings

• Show Info Table: Toggles the dashboard on or off.
  
• Text Size & Position: Customise where the table appears on your screen and how large the text is.
  
• Colours: Fully customisable colours for the Table Header (Top row) and Data Rows (Bottom rows).
  

3. Timeframe 1 & 2 Settings
You have two identical sections to configure two different timeframes (e.g., 30m and 1H).

• Timeframe: The chart interval to monitor (e.g., "30" for 30 minutes, "60" for 1 Hour, "240" for 4 Hours).
  
• Threshold %: The "Trigger" for drawing a box based on relative candle volume in that timeframe.
  Example:
  100% = Candle Volume is equal to the average volume for the specified timeframe.
  200% = Candle Volume is 2x the average volume for the specified timeframe.
  300% = Candle Volume is 3x the average volume for the specified timeframe.
  
  
• Box & Edge Colour: Distinct colours for each timeframe so you can easily tell which timeframe created the zone.
  

8. Dez.

Versionshinweise

Update: 08/12/2025
Below are listen of functions added:

1. "Smart Ranking" System (Max Boxes)
Previously, the script would just draw every box that met your criteria. Now, it manages the chart for you to keep it clean.

• What it does: You set a limit (e.g., "Max 2 Boxes"). The script tracks every box drawn during the trading day.
  
• The Logic: If a 3rd box candidate appears, the script instantly compares it against the existing 2. If the new one is "stronger" (higher Volume or RVol), the script automatically deletes the weakest box from earlier in the day and replaces it with the new one.
  
• The Benefit: You always see the Top X most significant zones of the day, without manual cleanup.
  

2. Dual Calculation Modes
Added a "Calculation Mode" setting to change how the script defines a "significant candle."

Mode A- High RVol (Classic): This looks for spikes. It only draws a box if the Relative Volume is higher than your set threshold (e.g., 350%). Good for finding anomalies.

Mode B- Highest Volume (New): This ignores thresholds. Instead, it competes to find the candles with the highest raw volume number for the day. If you set the limit to 2, it guarantees you will see the 2 highest volume candles of the session, regardless of their average.

3. Session Data Control
Added a specific "Session Data" input to control the data feed.

• Regular Trading Hours (Default): The script forces the calculation to use only market hours (9:30 AM - 4:00 PM), ignoring pre-market volume. This prevents the "Average Volume" from being dragged down by thin pre-market trading, making RVol calculations much more accurate for stocks.
  
• Extended Hours: Includes all pre/post-market data.
  

4. Per-Timeframe Control
Instead of global settings applying to everything, you now have granular control over each timeframe.

• Enable/Disable: You can now tick a box to completely turn off "Timeframe 2" if you only want to focus on one timeframe.
  
• Individual Limits: You can set Timeframe 1 (e.g., 30m) to allow 3 boxes, while Timeframe 2 (e.g., 4H) only allows 1 box.
  
• Dynamic Table: The information table now automatically resizes. If you disable a timeframe, it disappears from the table to save screen space.