OPEN-SOURCE SCRIPT
Pure Volume [SkaleHub]
Overview
Standard volume bars can be incredibly noisy and hard to read. This tool smooths out that data using a built-in moving average line, replacing individual bars with a single, flowing area chart.
The Edge
It filters out the chop to clearly show whether overall market participation is expanding or contracting, giving you a "pure" read on institutional interest and volume momentum.
Key Features:
Noise Reduction: Strips away chaotic, alternating volume bars and replaces them with a single, highly readable trendline of market participation.
Momentum Color-Coding: The indicator automatically shifts colors (Green for expanding, Red for contracting) so you can instantly gauge whether interest in the asset is growing or fading.
Trend Confirmation: Helps developing traders confirm if a price move has real financial backing or if it is just a low-volume fakeout.
How to Use
Apply the indicator to your chart (it will appear in a pane below the price action).
Look for the volume wave to turn Green (expanding) when price is breaking out or making a major move. This confirms institutional backing.
If price is moving rapidly but the Pure Volume wave is Red (contracting), treat the move with caution, as it lacks heavy market participation and may reverse.
Author's Note
This indicator is part of the SkaleHub Free Starter Library. It is designed to be paired with the SkaleHub Training System to help newer traders build mechanical discipline and systemize their trading process.
Standard volume bars can be incredibly noisy and hard to read. This tool smooths out that data using a built-in moving average line, replacing individual bars with a single, flowing area chart.
The Edge
It filters out the chop to clearly show whether overall market participation is expanding or contracting, giving you a "pure" read on institutional interest and volume momentum.
Key Features:
Noise Reduction: Strips away chaotic, alternating volume bars and replaces them with a single, highly readable trendline of market participation.
Momentum Color-Coding: The indicator automatically shifts colors (Green for expanding, Red for contracting) so you can instantly gauge whether interest in the asset is growing or fading.
Trend Confirmation: Helps developing traders confirm if a price move has real financial backing or if it is just a low-volume fakeout.
How to Use
Apply the indicator to your chart (it will appear in a pane below the price action).
Look for the volume wave to turn Green (expanding) when price is breaking out or making a major move. This confirms institutional backing.
If price is moving rapidly but the Pure Volume wave is Red (contracting), treat the move with caution, as it lacks heavy market participation and may reverse.
Author's Note
This indicator is part of the SkaleHub Free Starter Library. It is designed to be paired with the SkaleHub Training System to help newer traders build mechanical discipline and systemize their trading process.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Beau Green
Founder of SkaleHub
Founder of SkaleHub
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Beau Green
Founder of SkaleHub
Founder of SkaleHub
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。