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Market Order Bubbles [MTF]

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Market Order Bubbles [MTF] is a CVD (Cumulative Volume Delta) style indicator that detects aggressive buying or selling volume surges using a statistical Z-Score approach. It estimates buy and sell volume from candle structure (body + wicks), then measures how far the current volume deviates from its recent average (Z-Score). When the surge is strong enough, it plots colored bubbles (circles) on the chart: Pink/Red bubbles → Strong Buy volume surge (often signals exhaustion → contrarian short)
Green bubbles → Strong Sell volume surge (often signals exhaustion → contrarian long)

The indicator is Multi-Timeframe (MTF), so you can display higher-timeframe bubbles on your current chart. It also draws connecting rays, sloped extension rays, and horizontal rays from the bubbles, plus an optional Linear Regression bias filter.

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