OPEN-SOURCE SCRIPT
Volume Bubble (Big Trades)
Gemini said
Delta Volume Bubbles: How It Works
The Delta Volume Bubbles indicator is a sophisticated order flow tool designed to visualize "aggressive" market activity directly on your price chart. Instead of looking at a separate sub-window for volume, this script places circular "bubbles" on the candles where significant buying or selling pressure occurs.
1. The Core Logic: Delta Calculation
At its heart, the indicator uses Volume Delta, which is the difference between buying volume (at the ask) and selling volume (at the bid).
Positive Delta: More aggressive buying; the bubble is typically green.
Negative Delta: More aggressive selling; the bubble is typically red.
To provide precision, the script uses Lower Timeframe (LTF) data. For example, if you are on a 1-hour chart, it scans 1-minute data to see how volume was distributed within that hour.
2. Bubble Placement & Size
The indicator doesn't just put a dot at the close. It offers two placement modes:
Candle VWAP: Places the bubble at the Volume Weighted Average Price of that specific candle, showing you exactly where the "heavy" trading occurred.
Middle: Places the bubble at the candle’s midpoint (HL/2).
The size of the bubble is dynamic, scaling based on the Z-Score (a statistical measure of how "extreme" the volume is compared to the recent average). A "Huge" bubble represents a significant statistical outlier in volume.
3. Filtering and Intensity
The script filters out "noise" so your chart isn't cluttered.
Percentile Filter: Only shows bubbles if the volume is in the top X% (e.g., top 60%) of recent history.
Intensity Mode: When enabled, the colors shift from "Buy/Sell" to a heat map (Gray → Blue → Orange → Red) based on the pure strength of the volume, regardless of direction.
4. Visual Clarity
The recent update introduces a Transparency Slider. This allows you to make the bubbles "ghost-like," ensuring they don't hide the wick or body of the candlestick. This is crucial for price action traders who need to see if a big volume bubble resulted in a reversal pin bar or a breakout.
Delta Volume Bubbles: How It Works
The Delta Volume Bubbles indicator is a sophisticated order flow tool designed to visualize "aggressive" market activity directly on your price chart. Instead of looking at a separate sub-window for volume, this script places circular "bubbles" on the candles where significant buying or selling pressure occurs.
1. The Core Logic: Delta Calculation
At its heart, the indicator uses Volume Delta, which is the difference between buying volume (at the ask) and selling volume (at the bid).
Positive Delta: More aggressive buying; the bubble is typically green.
Negative Delta: More aggressive selling; the bubble is typically red.
To provide precision, the script uses Lower Timeframe (LTF) data. For example, if you are on a 1-hour chart, it scans 1-minute data to see how volume was distributed within that hour.
2. Bubble Placement & Size
The indicator doesn't just put a dot at the close. It offers two placement modes:
Candle VWAP: Places the bubble at the Volume Weighted Average Price of that specific candle, showing you exactly where the "heavy" trading occurred.
Middle: Places the bubble at the candle’s midpoint (HL/2).
The size of the bubble is dynamic, scaling based on the Z-Score (a statistical measure of how "extreme" the volume is compared to the recent average). A "Huge" bubble represents a significant statistical outlier in volume.
3. Filtering and Intensity
The script filters out "noise" so your chart isn't cluttered.
Percentile Filter: Only shows bubbles if the volume is in the top X% (e.g., top 60%) of recent history.
Intensity Mode: When enabled, the colors shift from "Buy/Sell" to a heat map (Gray → Blue → Orange → Red) based on the pure strength of the volume, regardless of direction.
4. Visual Clarity
The recent update introduces a Transparency Slider. This allows you to make the bubbles "ghost-like," ensuring they don't hide the wick or body of the candlestick. This is crucial for price action traders who need to see if a big volume bubble resulted in a reversal pin bar or a breakout.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.