HTF Volume Spike & Imbalance Projection [LuxAlgo]

The HTF Volume Spike & Imbalance Projection [LuxAlgo] indicator provides a comprehensive multi-timeframe analysis tool that projects higher timeframe (HTF) candle structures, volume spikes, and volume profiles directly onto the current chart. This script aims to bridge the gap between different time horizons, allowing traders to identify institutional interest, supply/demand zones, and significant order flow imbalances within an HTF context without ever switching timeframes.

🔶 USAGE

🔹 The Core Concept

While standard charts only show the OHLC of a candle, this indicator deconstructs a single large candle (e.g., a 1-hour candle) into its individual internal components. It looks for Volume Spikes (moments of high activity) and Stacked Imbalances (where aggressive participants stepped in repeatedly) to reveal the "story" inside the bar.

🔹 Reading the Projection

The indicator projects two visual blocks to the right of your current price action:

• Ghost Bar (Left Block): This represents the previous completed HTF candle. It is faded out to provide historical context and show where the previous "value" was established.
• Current Bar (Right Block): This represents the HTF candle currently forming and updates in real-time as new data arrives.

Each block is divided into three distinct visual sections:

1. HTF Candle: A standard candle representation of the higher timeframe (Open, High, Low, Close).
2. Scatter Plot (The Bubbles): Every bubble represents a volume spike that occurred on the lower timeframe (LTF) granularity. The size of the bubble indicates higher volume, while the color indicates buying (Green) or selling (Red) pressure. Dotted lines connect the High and Low of the candle to this zone for reference.
3. Volume Profile (The Histogram): Displays the total distribution of volume across the entire HTF candle, highlighting high-volume nodes.

🔹 Key Feature: Stacked Imbalances

Look for the solid colored boxes behind the scatter plot bubbles. These "Stacked Imbalances" appear when 3 or more volume spikes of the same direction occur at the same price level within one HTF candle.

• Bullish Imbalance (Green Box): Indicates a strong area of buying interest. These often act as support levels.
• Bearish Imbalance (Red Box): Indicates a strong area of selling interest. These often act as resistance levels.

🔹 On-Chart Bubbles

The bubbles visible on the actual candles of your chart are the same spikes shown in the projection.

• A cluster of large bubbles at the top of a candle indicates exhaustion or heavy selling at the highs.
• Large bubbles at the bottom indicate a strong floor being built by buyers.

🔶 DETAILS

The indicator uses

request.security_lower_tf()

to pull granular data. By analyzing volume at this "Spike Granularity," the script can pinpoint specific price levels where volume exceeded a moving average by a user-defined multiplier.

🔹 Trading Tips

• Identify Point of Control: Use the Volume Profile in the projection to see where the "Value" is. Trading usually gravitates back to high-volume areas.
• Trade the Imbalances: When price returns to a previously formed "Stacked Imbalance" box from the Ghost Bar, look for a reversal. These are high-probability areas where institutional activity was detected.
• Volatility Detection: If the scatter plot is empty, the current move is "low conviction" (low volume). If it's filled with large bubbles, big players are active.

🔶 SETTINGS

🔹 Higher Timeframe (Anchor)

• HTF Anchor Timeframe: Defines the timeframe of the main projection. The "Auto" setting selects a logical HTF based on your current chart.

🔹 Volume Spike Detection

• Spike Granularity: The lower timeframe used to find individual spikes.
• Volume Spike Multiplier: The threshold used to define a "spike" relative to the volume average.
• Volume MA Length: The lookback period for the volume average.

🔹 Advanced Features

• Show Ghost (Previous) Bar: Toggles the visualization of the previous HTF period.
• Highlight Stacked Imbalances: Enables detection of price zones with high-frequency aggressive volume.
• Show Anchor Connection Lines: Toggles lines connecting chart levels to the projection block.
• Show Bubbles on Chart Candles: Toggles the LTF volume spikes directly on the main chart bars.