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.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Beau Green
Founder of SkaleHub
Founder of SkaleHub
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Beau Green
Founder of SkaleHub
Founder of SkaleHub
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.