Volume O59 Elite Quant

Volume O59 Elite Quant is a volume-based market analysis indicator designed to identify significant changes in trading activity and visualize momentum conditions directly on the chart.

The indicator compares the current bar volume with the previous bar volume using user-defined percentage thresholds. Signals are generated only when volume behavior is confirmed by candle direction:

Volume increase on bullish candles

Volume increase on bearish candles

Volume decrease on bearish candles

These conditions help highlight situations where price movement is supported by abnormal volume behavior rather than price action alone.

In addition to volume signals, the script includes an RSI momentum calculation that dynamically colors price bars:

Bars are colored when momentum reaches overbought levels

Bars are colored differently when momentum reaches oversold levels

Neutral conditions remain unchanged

This visual approach allows faster interpretation of momentum pressure without adding extra indicators to the chart.

The indicator also supports multi-symbol scanning. Users can define a list of symbols and analyze them on a selectable timeframe (such as intraday or higher timeframes). When qualifying volume conditions are detected, results are displayed in an on-chart table showing the symbol name and signal direction.

The table position can be adjusted on the chart, and calculations are performed efficiently on the latest bar to reduce visual clutter.

This tool is intended for analytical and educational purposes, helping users observe volume behavior, momentum conditions, and relative activity across multiple instruments within a single chart environment.
Important Notice:

This indicator does not generate buy or sell signals.

It is for market observation, analysis, and educational purposes only.

Users should not make trading decisions based solely on this tool.

Always combine it with other analysis methods, proper risk management, and independent research.

Visual elements such as bar coloring and on‑chart tables are informational only and do not imply trading recommendations.