OPEN-SOURCE SCRIPT
Z-Score Volume with CVD Confirmation

Z-Score Volume with CVD Confirmation is a volume-based confluence tool that enhances traditional volume analysis by combining Z-Score volume anomalies with Cumulative Volume Delta (CVD) confirmation. This indicator helps traders identify unusual volume activity that aligns with directional order flow, offering a cleaner signal for potential breakout or reversal scenarios.
🔍 Key Features:
Z-Score Calculation: Measures how extreme current volume is relative to its recent average, highlighting statistically significant surges or drops.
CVD Confirmation: Uses Cumulative Volume Delta candles (open/high/low/close) to assess buying vs. selling pressure in lower timeframes.
Bar Color Logic:
Green: High Z-Score volume confirmed by CVD bullish candle
Red: High Z-Score volume confirmed by CVD bearish candle
Other color bands show progressively strong or weak volume outliers
Real Volume Bar Heights: Volume bars retain true scale while color reflects underlying order flow strength and direction.
💡 Use Cases:
Breakout validation: Confirm price range breaks when volume surge is supported by CVD direction
Fade setups: Detect unsustainable high-volume moves lacking CVD support
Trend continuation: Spot momentum when both Z-Score and CVD align in the direction of the trend
⚙️ How to Use:
Adjust the Z-Score length to define how far back to measure average and deviation.
Select your anchor timeframe (typically 1D) and a lower timeframe for CVD calculations (e.g., 1-minute).
Use color-coded volume bars to assess volume significance and directional flow at a glance.
Add the standard volume indicator to the chart so one can compare the difference between the standard volume indicator and the Z-Score Volume with CVD Confirmation script. Useful at specific price levels and exiting ranges or not.
🔍 Key Features:
Z-Score Calculation: Measures how extreme current volume is relative to its recent average, highlighting statistically significant surges or drops.
CVD Confirmation: Uses Cumulative Volume Delta candles (open/high/low/close) to assess buying vs. selling pressure in lower timeframes.
Bar Color Logic:
Green: High Z-Score volume confirmed by CVD bullish candle
Red: High Z-Score volume confirmed by CVD bearish candle
Other color bands show progressively strong or weak volume outliers
Real Volume Bar Heights: Volume bars retain true scale while color reflects underlying order flow strength and direction.
💡 Use Cases:
Breakout validation: Confirm price range breaks when volume surge is supported by CVD direction
Fade setups: Detect unsustainable high-volume moves lacking CVD support
Trend continuation: Spot momentum when both Z-Score and CVD align in the direction of the trend
⚙️ How to Use:
Adjust the Z-Score length to define how far back to measure average and deviation.
Select your anchor timeframe (typically 1D) and a lower timeframe for CVD calculations (e.g., 1-minute).
Use color-coded volume bars to assess volume significance and directional flow at a glance.
Add the standard volume indicator to the chart so one can compare the difference between the standard volume indicator and the Z-Score Volume with CVD Confirmation script. Useful at specific price levels and exiting ranges or not.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.