Calculates an Elastic Volume Weighted Moving Average (EVWMA), incorporating trading volume to dynamically adjust moving average responsiveness over a specified lookback length. It plots directly on the price chart as a single moving average line. Optional colo
Indicator · Pine Script v5 · On the chart
Volume Delta Bubble + Absorption
This indicator overlays volume-delta bubbles and absorption labels on the price chart.
GitHub stars7on the repository
Pine versionv5runs as is
Lines of code241
Settings19inputs
LicenceNone stated
Last update3 months ago24 Jul 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Volume Delta Bubble + Absorption signs volume as positive or negative from either a lower-timeframe open-close comparison or the current candle direction, then flags unusual activity with an adaptive z-score or a fixed minimum volume. Absorption marks bars whose body is smaller than a set fraction of the average body. Users can toggle bullish and bearish signals, label style, opacity, colors, and smart placement. It does not generate trade entries or exits.
- Volume delta or candle delta source
- Adaptive z-score or fixed volume threshold
- Absorption detection by body size ratio
- Bullish and bearish bubble labels
- Circle style, opacity, and smart placement
Details
Published by
eddiebelaval on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Volume
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show Indicator | bool | true | showIndicator |
| Calculation Source | string | Volume Delta | calculationSource |
| Lower Timeframe | timeframe | 1 | lowerTF |
| Lookback Period | int | 60 | lookbackPeriod |
| Detection Mode | string | Adaptive | calcMode |
| Z-Score Threshold | float | 2.0 | zScoreThreshold |
| Minimum Volume (Fixed) | int | 200 | minVolumeFixed |
| Detect Absorption | bool | true | detectAbsorption |
| Body Size Ratio | float | 0.6 | absorptionRatio |
| Show Bullish Signals | bool | true | showBullish |
| Show Bearish Signals | bool | true | showBearish |
| Show Absorption Labels | bool | true | showAbsLabel |
Show all 19 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use Circle Style | bool | true | useCircleStyle |
| Bubble Opacity % | int | 70 | bubbleOpacity |
| Smart Placement | bool | true | useSmartPlacement |
| Bullish Color | color | color.new(#00E676, 0) | bullColor |
| Bearish Color | color | color.new(#FF5252, 0) | bearColor |
| Bullish Absorption | color | color.new(#4CAF50, 0) | absBullColor |
| Bearish Absorption | color | color.new(#F44336, 0) | absBearColor |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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