fikira

LTF -> HTF volume delta Up/Down

This script derives from my previous Educational LTF -> HTF volume delta script.

Total volume is displayed as columns in the background.

With request.security_lower_tf() we get data from a lower timeframe.
In this case, volume , which is placed in an 'up-array' when the 'lower timeframe close' > 'lower timeframe open',
or in an 'down-array' when the 'lower timeframe close' < 'lower timeframe open'.

This is displayed here as 2 (red/green) lines

When you're at a chart timeframe (Higher timeframe), lower than Daily, the lower timeframe is automatically 50x smaller than the higher timeframe.
Example D = 1440 minutes -> divided by 50 = 28.8 or rounded a lower timeframe of 29 minutes
When this number is below 1, it will take the '1 minute timeframe' as lower timeframe

If the higher timeframe chart is Daily or higher, a 'x minute-lower timeframe' chart is calculated from the timeframe.multiplier multiplied by 25,
for example a 2D higher timeframe will do the 'lower timeframe calculations' with a 50 minute TF (25 * 2 'D')

Looking at for example BTC on the Daily higher timeframe, some interesting observations can be done when looking at the 'spikes'

This script doesn't have build in arrows, it is merely made to give some stimulation,
and hopefully some of you can work further on this technique, because I think it is very promising!

I want to thank Tradingview very deeply, why?
Just so many reasons, development, moderation, organisation, helpdesk, ...
The amount of work they are doing is incredible!
Release Notes: This script is part of a collection of educational scripts
If you want to return to the open source INDEX page, click here
-> Education: INDEX

#trusted pine programmers for hire

- We cannot control our emotions,
but we can control our keyboard -
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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