Relative Volume Pulse [Asa]

Relative Volume Pulse [Asa] is a powerful intraday tool designed to help you instantly spot volume surges and anomalies compared to recent history. It highlights how today’s volume at each bar time compares to the typical volume observed at the same time over your chosen number of previous days. With intuitive color-coding and threshold logic, you can quickly identify both significant and extreme spikes in buying or selling activity—ideal for day traders, scalpers, and anyone who cares about real-time volume dynamics.

Key Features

• Smart Intraday Volume Benchmarking:
  

Compares today’s volume to the average volume at the exact same time over the past X days, automatically adapting to typical intraday volume waves.

• Dynamic Color Coding:
  

• Up/Down Volume Bars:
  

Uses different colors for bullish and bearish candles.

• Threshold Highlights:
  

Volume bars that exceed user-defined multiples of average (“Large” and “Extreme” thresholds) are highlighted with stronger colors, making true surges pop visually.

• Configurable Visualization:
  

Choose to view today’s volume as columns, histogram, or line—whatever fits your workflow best.

• Average Volume Overlay:
  

Plots the rolling intraday average as a reference line, so you can see at a glance what’s “normal” for any bar in the session.

• Extreme Event Marker:
  

Optional marker flags bars that cross your “Extreme” volume threshold.

How It Works

• For each bar, the script calculates the average volume at this exact time using your selected number of previous days (e.g., 5 days).
  

• Today’s volume is compared to this average:
  

• If volume exceeds your “Large” threshold (e.g., 1.5× average), the bar is colored with a more intense highlight.
  

• If volume exceeds your “Extreme” threshold (e.g., 2× average), the bar is colored with the strongest highlight and optionally flagged with a marker.
  

• Separate color controls for up and down candles let you instantly see whether surging volume is driven by buyers or sellers.
  

Typical Uses

• Spotting Breakouts:
  Quickly identify bars where volume is truly unusual for the time of day—filtering out routine open/close surges and focusing on real-time activity.
  

• Scalping & Day Trading:
  Use threshold-based color alerts to time entries or exits, especially when sudden volume accompanies price moves.
  

• Volume-Based Confirmation:
  Validate signals from other indicators by requiring confirmation from large or extreme relative volume.
  

Parameters

• Number of Past Days for Average: How many previous days to use for the time-matched average.
  

• Large / Extreme Thresholds: Customize what constitutes a notable or extreme volume event, as multiples of the average.
  

• Up/Down & Highlight Colors: Choose your preferred colors for all volume and threshold levels.
  

• Display Style: Select columns, histogram, or line to match your charting style.
  

Why Use This Indicator?
Most “relative volume” tools compare only to simple session averages, which miss the real ebb and flow of intraday trading. Relative Volume Pulse gives you contextually accurate volume analysis—helping you spot the bars that matter, not just those that look big on paper.
Stop guessing what’s “high” volume—see it, and act on it.