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.
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
Beau Green
Founder of SkaleHub
Founder of SkaleHub
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
Beau Green
Founder of SkaleHub
Founder of SkaleHub
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。