Lower-Timeframe Volume Microbursts with Session Baselines and Signals

Summary

This TradingView indicator looks for unusually high volume in lower-timeframe candles and combines those events into a signed Microburst Score on the chart timeframe. It uses a separate EMA volume baseline for each enabled trading session, then checks whether an intrabar’s volume exceeds a configurable multiple of that baseline and whether its candle body meets a minimum efficiency threshold. The script supports automatic or manual lower-timeframe selection and configurable session windows and time zones.

Bubbles show qualifying spikes, while score thresholds control directional signal markers, candle coloring, and alerts. Optional first-burst levels start at the low of a bullish burst or the high of a bearish one, with cooldown and age limits. The provided extract omits much of the calculation logic and includes no performance tests or trading results. The score and visual signals should therefore be treated as indicator outputs, not evidence of predictive value; settings and session choices affect what qualifies.

Key ideas

• The indicator compares lower-timeframe volume with a session-specific EMA baseline.
• A configurable volume multiple and candle-body efficiency filter determine whether an intrabar qualifies as a spike.
• Qualifying spikes contribute to a directional Microburst Score and can trigger threshold-based signals and alerts.
• Optional first-burst levels mark the low of a bullish event or the high of a bearish event.
• The excerpt provides no backtest or evidence that the signals predict future returns.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.