Big Notional Volume Bubbles (Lower-TF Order Flow Approximation)

The Big Notional Volume Bubbles (Lower-TF Order Flow Approximation) indicator highlights significant bursts of trading activity by analyzing lower-timeframe candle data within higher-timeframe bars to approximate order flow and institutional participation.

Usage

The Usage section focuses on identifying high-interest zones where large notional value (Volume × Price) has been transacted.

• Trend Continuation: Large green bubbles appearing during an uptrend can signal aggressive buying and momentum ignition.
• Absorption Zones: Clusters of red bubbles at historical support levels may indicate sell-side absorption before a reversal.
• Scalping: Intraday traders can use these bubbles to spot "smart money" footprints at key structural levels, such as VWAP or previous session highs/lows.
• Contextual Analysis: By placing bubbles on wicks, traders can see if high-value activity occurred at the extremes of a bar, potentially signaling rejection or exhaustive volume.

Details

This script utilizes request.security_lower_tf to fetch micro-candle data (OHLCV) within the current chart's timeframe. It calculates the notional value for every micro-candle and compares it against user-defined thresholds.

It is important to understand that this tool is an approximation of order flow; it does not access real-time Level 2, DOM, or Tape data. Instead, it infers "buy-side" or "sell-side" pressure based on whether the lower-timeframe candle closed higher or lower than its open. The size of the bubble dynamically scales based on four configurable "Tiers" of notional value, allowing for a visual hierarchy of importance.

Settings

Main Settings

• Lower timeframe: Sets the resolution used for scanning micro-candles (e.g., "1" for 1-minute data).
• Min notional to show: The minimum USD/USDT value required for a bubble to be rendered on the chart.
• Max bubbles per bar: Limits the number of bubbles drawn per candle to prevent visual clutter.
• Place on wick extreme: If enabled, bubbles are placed at the high/low of the micro-candle; otherwise, they are placed at the close.
• Show notional text: Toggles the visibility of the numerical value (e.g., 50k, 1M) inside the bubble.

Notional Tiers

• Tier 1 - 4: Defines the value thresholds that determine the visual size of the bubbles (Tiny, Small, Normal, Large, Huge).

FAQ

How do I access Big Notional Volume Bubbles (Lower-TF Order Flow Approximation)?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Why are no bubbles appearing on my chart?

This usually happens if the "Min notional" threshold is set too high for the specific asset's liquidity or if the "Lower timeframe" selected has no available data for that symbol. Try lowering the threshold or adjusting the timeframe.

Does this show actual Market Orders?

No, it approximates activity using OHLCV data from lower timeframes. It classifies "Buys" and "Sells" based on micro-candle direction rather than actual trade-by-trade aggressor data.