JMF_Buy/Sell Delta Pressure
https://drive.google.com/file/d/1l_Tk4yCDLgGDoR6OlzzzKK36jbuoqDlz/view?usp=sharing
A lower histogram study showing Buy and sell pressure within the users time frame current candle, along with relative "Delta", the current difference between Bid and Ask volume.
Main histogram is a display of the current chart resolutions buy vs sell volume.
smaller (Thinner) positive and negative histogram that you see extending below the zero line is our current "Relative Delta" the current difference between the buy and sell volume. Sometimes you will see price rising on a negative delta, or vice versa. This can clue us in on underlying buy or sell pressure we may not immediately see.
User has the choice to color the candles with the Relative delta to match the histogram for easier identification of trend shift or change in delta values.
behind the histograms you will see a Bollinger band background. This is simply used to visualize when volatility is expanding and when volume or delta is over extended and we could possibly expect a shift to the opposite side. The default settings on the Bands are set fairly long to have a more consistent benchmark, but user can change the average value (midline simple moving average/volume moving average) to a shorter length to see immediate shifts in volatility and volume.
User has a table included in the subgraph that thoroughly outline all the current metrics that are shown on the histogram, as well as some additional values traders might find useful. Including Relative volume, Daily Volume, Current candle volume, Up (buy) volume, Dn (sell) volume, current bar delta, avg bar delta, Avg 30bar volume, current bars volume vs avg volume, % of Avg, current bars sell % and lastly Premarket volume with user defined time for start and end of Pre market.
As always, the creator of this code is NOT a licensed investment advisor. No output of this tool is to be taken as investment advice or a recommendation to buy or sell any security. Trading is risky, any one using this tool acknowledges they may lose some if not all of their initial investment. User assumes ALL responsibility when using this tool in their technical analysis.
A lower histogram study showing Buy and sell pressure within the users time frame current candle, along with relative "Delta", the current difference between Bid and Ask volume.
Main histogram is a display of the current chart resolutions buy vs sell volume.
smaller (Thinner) positive and negative histogram that you see extending below the zero line is our current "Relative Delta" the current difference between the buy and sell volume. Sometimes you will see price rising on a negative delta, or vice versa. This can clue us in on underlying buy or sell pressure we may not immediately see.
User has the choice to color the candles with the Relative delta to match the histogram for easier identification of trend shift or change in delta values.
behind the histograms you will see a Bollinger band background. This is simply used to visualize when volatility is expanding and when volume or delta is over extended and we could possibly expect a shift to the opposite side. The default settings on the Bands are set fairly long to have a more consistent benchmark, but user can change the average value (midline simple moving average/volume moving average) to a shorter length to see immediate shifts in volatility and volume.
User has a table included in the subgraph that thoroughly outline all the current metrics that are shown on the histogram, as well as some additional values traders might find useful. Including Relative volume, Daily Volume, Current candle volume, Up (buy) volume, Dn (sell) volume, current bar delta, avg bar delta, Avg 30bar volume, current bars volume vs avg volume, % of Avg, current bars sell % and lastly Premarket volume with user defined time for start and end of Pre market.
As always, the creator of this code is NOT a licensed investment advisor. No output of this tool is to be taken as investment advice or a recommendation to buy or sell any security. Trading is risky, any one using this tool acknowledges they may lose some if not all of their initial investment. User assumes ALL responsibility when using this tool in their technical analysis.
Release Notes:
included Daily Cumulative delta value in metrics table.
included Daily Cumulative delta value in metrics table.
Release Notes:
An example of a large negative delta and then delta's starting to shift back toward a positive nature. If we anchor a vwap from that delta event knowing that was a high volume sell event, once we are reclaimed we can look to participate vs the delta's anchored average price.
Release Notes:
changed the bar coloring to reflect relative delta, Delta Avg vs current delta smoothed over a short term volume weighted average.
cleaned up user settings interface.
changed the bar coloring to reflect relative delta, Delta Avg vs current delta smoothed over a short term volume weighted average.
cleaned up user settings interface.
Release Notes:
Buy and sell volume labels added above and below histogram for quick reference. Can be turned off in settings.
Release Notes:
Release Notes: