Volume Delta Pivot Matrix [BigBeluga]

Volume Delta Pivot Matrix [BigBeluga] is an indicator that maps pivot highs and lows together with the volume delta accumulated around them, then plots each level as a color-coded support or resistance line.

It solves the problem of flat, unweighted pivot lines by filtering out pivots backed by weak volume delta, so only levels with meaningful buying or selling pressure stay on the chart.

The indicator runs a pivot detection and volume-delta scoring pipeline, then renders the surviving levels visually:

1 — Pivot Detection & Delta Collection

• Swing Lookback: Uses Pivot Swing Length bars on both sides to detect pivot highs and pivot lows.
• Volume Delta Calculation: Sums volume across the pivot window, adding volume on up-closes and subtracting it on down-closes to produce a net delta value for each pivot.
  
  Pine Script®
  
  

2 — Breakout & Level Management

• Breakout Removal: A support level is removed when price trades at or below it, and a resistance level is removed when price trades at or above it.
• Capacity Cap: Only the most recent Max Active Levels to Plot levels are kept, with older ones dropped automatically.
  
• Delta Filter: Levels whose absolute delta falls below Minimum Delta % Filter relative to the strongest level are permanently discarded.
  

3 — Visual Encoding

• Gradient Circles: Each level is marked with 1 to 4 circles whose size and gradient color scale with delta strength, from yellow to the bullish or bearish theme color.
• Percentage Label: The largest circle displays the level's delta as a percentage of the strongest active level.
• Price Tag: A left-facing label at the current bar shows the exact level price.
  

Beyond simply marking pivots, the indicator can be applied in several ways:

1. Identify High-Conviction Levels: Treat levels with more and larger circles as stronger support or resistance, since they carry greater volume delta.
2. Filter Noise Automatically: Raise the Minimum Delta % Filter to strip out weak pivots and keep only the most significant levels.
3. Trade Reactions near Levels: Watch for price approaching a green support or red resistance line and use the displayed price tag for precise entries.
   
   
4. Confirm Breakouts: When a level disappears, it signals price has broken through, which can be used as a breakout confirmation.
5. Customize the Look: Adjust Line Style and the bullish/bearish colors to match your chart theme.

Why this implementation is unique:

• Combines classic pivot detection with a real-time volume delta weighting system instead of treating all pivots equally.
• Uses a dynamic gradient circle system so level strength is readable at a glance without extra panels.
• Automatically manages level lifecycle through breakout detection, capacity limits, and delta filtering.
• Fully customizable colors, line styles, and filter thresholds to match any chart setup.