Projecting Higher-Timeframe Volume Spikes and Price Imbalances

Summary

This indicator builds a view of a selected higher-timeframe candle while using lower-timeframe data to locate unusually high-volume bars. A spike is defined as lower-timeframe volume exceeding a moving average multiplied by a configurable threshold. The script records the spike price, volume, and whether the lower-timeframe candle closed up or down, then displays bubbles whose size reflects relative volume. It can also draw stacked price-level imbalances where several recorded spikes share a price band, alongside projected candle and volume-profile visuals.

Automatic timeframe rules choose anchor and spike intervals based on the chart interval, and users can instead select supported timeframes and adjust the volume average, threshold, row density, and display options. The current and previous higher-timeframe candles are rendered with OHLC references and optional connecting lines. The document describes visualization and detection logic but provides no backtest, trading rules, or evidence that spikes predict future price movement. Imbalance counts reflect categorized spike observations, not verified order flow or executed trades.

Key ideas

• The indicator detects lower-timeframe volume spikes relative to a moving average and configurable multiplier.
• Spike records include price and candle direction, with bubble size scaled by relative volume.
• Repeated directional spikes within price bands are highlighted as stacked imbalances.
• Automatic timeframe selection pairs a higher-timeframe anchor with a lower-timeframe spike interval.
• The visualizations do not establish predictive value or provide a tested entry and exit strategy.

Tags

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