[PW] Volume Standard Deviation

Here is a nice little script that highlights areas of volume using standard deviation, you can choose the look back periods.

This script is based on the excellent script by: @SteynTrade -
I have simplified it a bit and made it readable to my taste using alpha to highlight high volume areas.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?


Hi sir, many thanks for this tool, whats the indicator for the bar color ? thanks
Thank you. I would love if you could update to option for more colors based on STD. 0-1X, 1-2X, 2-3X and 3X+ for instance. And I would love to have the option to have RVOl numbers at the Y axis instead of volume.
Fantastic! Thanks for your excellent work.
So the highlighted volume bars suggest that the volume was outside of one standard deviation from the mean?
pigloo JonathanKrier

Bright : Volume > 1 x STD of the look back period.
Very Bright: Volume > 2 x STD of the look back period.