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Volume+ (Time of Day)

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Volume Volume Indicator timeofday
155
3
volumestudies volume timeofday
This volume indicator measures the volume for each bar at the time of day and displays the average and +1 standard deviation above that average.
The color intensity of the bar is increased when the volume exceeds +1 standard deviation.

See how on the chart that other than the early morning and late day volume, there are clearly key moments in the day at 7am, 10am, 10:30am, and 11am. See how on the second day, there were volume spikes before 10am, 10:30am and then more obviously just before 11am.
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.

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