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.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
Beau Green
Founder of SkaleHub
Founder of SkaleHub
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
Beau Green
Founder of SkaleHub
Founder of SkaleHub
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。