OPEN-SOURCE SCRIPT
MoveProof Volume Filter - v1.0
Volume Bars
Shows trading volume for each candle. Taller bars mean more participation.
Bright Green Bar
Bullish MoveProof confirmation. Price is breaking higher with strong volume and a solid bullish close.
Bright Red Bar
Bearish MoveProof confirmation. Price is breaking lower with strong volume and a solid bearish close.
Orange Bar
Fakeout risk. Price is poking or breaking a recent high/low, but volume or candle close quality is weak.
Muted Green Bar
Bullish candle with normal volume.
Muted Red Bar
Bearish candle with normal volume.
Gray Bar
Weak volume. Be careful trusting breakouts or continuation moves.
White Line
Average volume. Shows what normal volume looks like over the selected lookback.
Yellow Line
Strong-volume threshold. Volume above this line means participation is meaningfully above average.
RVOL
Relative volume. Example: 1.50x means current volume is 50% higher than average.
Structure
Shows whether price is breaking, poking, or not interacting with recent highs/lows.
Close
Shows whether the current candle closed strongly in its direction or looks weak/mixed.
Main idea
Bright green/red bars mean the move has proof.
Orange bars mean be careful.
Gray bars mean volume is weak.
Use it as a confirmation filter, not a standalone buy/sell system.
Indicator pairs well with my other one 'MA Trend Pullback System - v1.0'
NOT FINANCIAL ADVICE
Shows trading volume for each candle. Taller bars mean more participation.
Bright Green Bar
Bullish MoveProof confirmation. Price is breaking higher with strong volume and a solid bullish close.
Bright Red Bar
Bearish MoveProof confirmation. Price is breaking lower with strong volume and a solid bearish close.
Orange Bar
Fakeout risk. Price is poking or breaking a recent high/low, but volume or candle close quality is weak.
Muted Green Bar
Bullish candle with normal volume.
Muted Red Bar
Bearish candle with normal volume.
Gray Bar
Weak volume. Be careful trusting breakouts or continuation moves.
White Line
Average volume. Shows what normal volume looks like over the selected lookback.
Yellow Line
Strong-volume threshold. Volume above this line means participation is meaningfully above average.
RVOL
Relative volume. Example: 1.50x means current volume is 50% higher than average.
Structure
Shows whether price is breaking, poking, or not interacting with recent highs/lows.
Close
Shows whether the current candle closed strongly in its direction or looks weak/mixed.
Main idea
Bright green/red bars mean the move has proof.
Orange bars mean be careful.
Gray bars mean volume is weak.
Use it as a confirmation filter, not a standalone buy/sell system.
Indicator pairs well with my other one 'MA Trend Pullback System - v1.0'
NOT FINANCIAL ADVICE
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.