OPEN-SOURCE SCRIPT
JVolume Elite
๐ Volume-RSI Elite Momentum Engine (3-in-1)
The Ultimate Visual Clarity for Volume Spread Analysis (VSA) Tired of jumping between Price, Volume, and RSI? This indicator merges all three into a single, intuitive visual experience directly on your candles.
๐น Key Features
๐ 5-Tone Volume Palette: Uses a 20-period Volume EMA to color candles based on relative intensity.
Neon Green/Red: High-conviction institutional moves.
Dark/Black Shades: Volume exhaustion โ signals the trend is running out of "fuel" (perfect for avoiding late entries).
๐ฃ Institutional Liquidity Traps (Electric Purple): Identifies high-volume Hammers and Shooting Stars. These aren't just dojis; they are asymmetric traps where retail is "washed out" and smart money takes over.
๐ RSI Trend Backgrounds: No need for a sub-pane. The chart background tells the story:
Crimson (RSI > 70): Overbought Danger Zone.
Gold/Green (RSI 55-65): The "Momentum Sweet Spot" for trend following.
Ocean Blue (RSI < 30): Oversold/Accumulation Zone.
๐น How to Read the "3-in-1" Story
High-Probability Long: Look for a Dark Red/Black candle (Exhaustion) or an Electric Purple Hammer in the Ocean Blue zone.
Trend Confirmation: Ride the trend as long as the background is Gold/Green and candles remain solid green.
The "Hollow" Rally: Warning! If you see Dark Green/Black candles in the Crimson zone, itโs a "hollow" move with no volume supportโexpect a reversal.
๐น Built-In Intelligence
Smart Noise Filter: The indicator automatically deactivates on timeframes below 30 minutes to ensure signal reliability and prevent intraday "whipsaws."
EMA Optimized: Reacts faster to sudden volume spikes compared to standard moving averages.
The Ultimate Visual Clarity for Volume Spread Analysis (VSA) Tired of jumping between Price, Volume, and RSI? This indicator merges all three into a single, intuitive visual experience directly on your candles.
๐น Key Features
๐ 5-Tone Volume Palette: Uses a 20-period Volume EMA to color candles based on relative intensity.
Neon Green/Red: High-conviction institutional moves.
Dark/Black Shades: Volume exhaustion โ signals the trend is running out of "fuel" (perfect for avoiding late entries).
๐ฃ Institutional Liquidity Traps (Electric Purple): Identifies high-volume Hammers and Shooting Stars. These aren't just dojis; they are asymmetric traps where retail is "washed out" and smart money takes over.
๐ RSI Trend Backgrounds: No need for a sub-pane. The chart background tells the story:
Crimson (RSI > 70): Overbought Danger Zone.
Gold/Green (RSI 55-65): The "Momentum Sweet Spot" for trend following.
Ocean Blue (RSI < 30): Oversold/Accumulation Zone.
๐น How to Read the "3-in-1" Story
High-Probability Long: Look for a Dark Red/Black candle (Exhaustion) or an Electric Purple Hammer in the Ocean Blue zone.
Trend Confirmation: Ride the trend as long as the background is Gold/Green and candles remain solid green.
The "Hollow" Rally: Warning! If you see Dark Green/Black candles in the Crimson zone, itโs a "hollow" move with no volume supportโexpect a reversal.
๐น Built-In Intelligence
Smart Noise Filter: The indicator automatically deactivates on timeframes below 30 minutes to ensure signal reliability and prevent intraday "whipsaws."
EMA Optimized: Reacts faster to sudden volume spikes compared to standard moving averages.
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.