Relative Volume at Time

This indicator measures how active today’s volume is compared to what’s normal for this exact time of the session. For each bar, it compares the current volume (or cumulative volume since session open) against the average volume at the same bar index over the last N sessions. The result is plotted as a relative volume histogram, where 1.0 = normal, >1.0 = higher than usual, and <1.0 = quieter than usual for that time.

On top of that, the script shows a compact table in the top-right corner with “Current Session RVOL: X%”, which represents today’s total volume so far versus the average cumulative volume at this time of day. For example, 150% means today’s session has 1.5× the usual volume at the current time.

Features:

Time-aligned relative volume: compares each bar to the same time in past sessions

Two modes: Regular (bar volume) and Cumulative (volume since session open)

Custom lookback (number of past sessions)

Threshold lines (e.g. 2×, 3×) and background highlights for high RVOL zones

Session RVOL percentage table for a quick gauge of “Is today a high-volume day so far?”

This tool is designed for intraday traders who want to quickly spot abnormal volume spikes and high-participation sessions without cluttering the chart.