Delta Volume Bubbles

The Delta Volume Bubbles indicator provides an advanced order flow visualization that displays buying and selling pressure through dynamic bubble representations directly on the chart. By calculating the net delta volume and applying adaptive percentile-based filtering, it highlights significant market aggression and exhaustion points to help traders identify high-conviction moves.

Usage

The tool can be used to identify trend confirmation, entry timing, and potential reversals by observing the size and color of the bubbles. Traders can look for large or "Huge" bubbles at key support and resistance levels to spot volume climaxes or aggressive breakouts.

The script features two primary coloring modes:

• Flow Mode: Colors bubbles based on direction (Buy vs. Sell) and aggression (Aggressive vs. Passive).
• Intensity Mode: Colors bubbles based on delta strength (z-score) to highlight unusual volume spikes regardless of direction.

Additionally, the Minimal Mode can be enabled to replace large bubbles with tiny dots for a cleaner chart layout, while the Show Bubbles filter allows users to focus exclusively on significant volume events (e.g., Large/Huge Only).

Details

The indicator estimates delta volume by analyzing lower timeframe (LTF) data using the ta.requestVolumeDelta function. It calculates the relationship between price action and volume to determine market aggression.

A core component of the script is the Delta Strength, which is a z-score normalized value (net delta relative to its moving average and standard deviation). This normalization ensures consistency across different symbols and timeframes. The indicator also uses a percentile-based filtering system (using linear interpolation) instead of fixed thresholds, allowing the tool to adapt dynamically to changing market volatility and volume conditions.

Settings

Order Flow

• Show Bubbles: Choose which bubble sizes to display (Show All, Large/Huge Only, Huge Only, or None).
• Bubble Volume %ile: Sets the percentile threshold required for a bubble to appear.
• Intensity Mode: Toggle between flow-based (Buy/Sell) and intensity-based (Strength) coloring.
• Delta Z-Score Length: The lookback period used for normalizing delta strength.
• Filter Type: Choose between filtering by Delta Strength or raw Net Delta volume.
• Bubble Placement: Determine if bubbles center on the Middle (HL2) or the Candle VWAP.
• Minimal Mode: Replaces all bubble sizes with tiny dots.
• Use custom timeframe: Manually override the automated lower timeframe selection for delta calculation.

Bubble Labels

• Show Numbers in Bubbles: Toggles numerical volume labels on or off.
• Label Volume %ile: Sets a specific percentile threshold for showing numerical labels (typically set higher than the bubble percentile).

FAQ

How do I access the Delta Volume Bubbles indicator?

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?

Ensure the symbol you are viewing has volume data. If volume is present, check the "Bubble Volume %ile" setting; a very high percentile might filter out all current market activity.

What is the difference between Aggressive and Passive colors?

Aggressive colors (bright red/green) indicate a delta strength z-score higher than 1.5, representing significant market conviction, while passive colors (lighter shades) represent moderate pressure.