GC Futures Volume for XAU (By REWX)

This indicator is written in Pine Script v6 and is designed to track **Gold Futures (GC – COMEX:GC1!) volume** for analyzing **XAU/USD** price behavior. It automatically synchronizes with the current chart timeframe and calculates an **EMA of volume** as a baseline. When the current GC volume exceeds the EMA multiplied by a configurable **Spike Factor**, the script highlights it as a **volume spike**, which often signals institutional activity or strong market interest. Volume bars are displayed as columns, with spikes marked in red and optionally labeled with a triangle. This tool helps traders confirm breakouts, detect reversals, and filter high-probability trading zones.