A volume indicator that tracks daily volume at specific times, measuring average volume and highlighting volume spikes beyond one standard deviation.
Explore complementary indicator rolesHow it works
The volume indicator calculates the average volume for each specific time of day across multiple trading sessions. It then computes the standard deviation of these volumes to establish a baseline measurement.
When the current day's volume at a specific time exceeds one standard deviation above the average, the indicator visually highlights this by increasing the color intensity of the volume bar, signaling a significant volume spike.
Why it may be useful
Volume spikes can indicate important market events, potential trend changes, or significant trader interest during specific trading hours. By identifying these moments, traders can gain insights into potential price movements and market sentiment.
Understanding when volume typically increases helps traders anticipate potential breakouts, reversals, or key trading opportunities during the most active periods of the day.
When to explore it
This volume indicator is most effective during active trading hours with known high-volume periods, such as market open, key economic announcements, or specific intraday time slots.
Traders can use it to identify unusual volume activity that might signal important market movements. It is particularly useful for day traders and scalpers who need to quickly assess market dynamics and potential trading opportunities within short time frames.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
