This is an artifact that would purge *all* temporary effects from your ship. Good, bad, ugly, it's gone. This would include everything a containment cage could wipe out, as well as a Null fuse. Any positive effects are gone as well.

It would also make you immune to *all* temporary effects for a short amount of time, like an hour or two.

Upside: no debuffs! You're immune to NPC enemy effects, quantum flares, etc.
Downside: No buffs! You're fighting with base stats only. And as Sparky pointed out, you can't have any traps active while the Field is up. No Halc to save you, no KVT spam.

Considerations: should only last for a short amount of time, maybe even less than an hour. Should be infeasible to keep running constantly due to materials cost and fast cooldown.
Not able to be used if you have a 'can't be removed' buff on. Tevrazon tanks, cruxes, etc. should not be able to stay active after using this, so it's just not usable with them.

In general, using this should be a trade-off. On one hand, the XRP Warp Station can't hit you with its defense debuff. On the other hand, you can't use any attack buffs to fight it. Similar considerations for fighting bases, PvP, and so forth.

Costs for making one could be something like 20 Nulls and 20 CMs

Edit: Might have a cooldown for use - ie, could only use one every four hours or the like. As long as the cost in Nulls or some other non-tradeable artifact was high enough to make constant use impossible, this probably wouldn't be a concern.
Enemy traps might still be able to affect you - probably too powerful to be immune to KVT's for an hour. Still, immunity to general debuffs is nothing to sneeze at.

and cannot use any traps whilst this is active as well, any traps set even if not triggered are cleared

Agreed, although again, I think the effect of someone hitting your Halc should make it so you couldn't use the Annulling Field. Shouldn't be able to get around that effect with this.

I rather like this, +1