Market Delta [Makit0]


Market Delta is suitable for daytrading on intraday timeframes, is a volume based indicator which allows to see the UP VOLUME vs the DOWN VOLUME , the DELTA (difference) and the CUMULATIVE DELTA (cumulative sum of difference) between them
This indicator is based on contracts volume (data avaiable), not in ask/bid volume (data not avaiable)

The up/down volume is calculated at each candle as follows:
- calculate the ticks of the range, top wick and bottom wick
- calculate the ticks up and ticks down to get the total ticks of the candle
- calculate the volume per tick as total volume divided by total ticks
- calculate the up and down volume as volume per tick multiplied by up ticks and down ticks
The delta is calculated as volume up minus volume down
The cumulative delta is a cumulative sum of delta and is resetted to 0 twice a day at the globex open and at the us cash open

By default the indicator plots the 'CANDLE MODE' which is useful for charting the cumulative volume to find out support and resistance zones where the volume is rejected or pass thru, as the volume moves so does the price, price always follows the volume , price goes away from where volume dries and price auctions comfortable where is plenty of volume , in a way PRICE FEEDS ON VOLUME
An indication about the plotting style in the volume , delta and cumulative delta modes: I can't use histogram as intended due a bug at autoresizing the scale in the candle mode, so the styles used are areabr and circles.

- Plot volume in one of four modes: Volume Up/Down, Delta, Cumulative Delta, Cumulative Delta as Candles
- Cumulative delta resetted twice a day (globex and cash open)
- Show a base line at 0

- Mode: select one of the four volume output modes: Volume , Delta, Cumulative Delta and Candles. Candles by default
- Show zero line: show/hide the zero base line. False by default.

BE AWARE, by default the indicator settings are configured for using the Cumulative Delta Candle Mode
- Candles Mode Settings: configured by default, mode candles and zero line off
- Volume , Delta, Cumulative Delta Mode Settings: select the mode you want and switch on/off the zero line

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This is amazing man. I've been working on indicators that do the same thing. I love the use of the plotcandle(). Quite brilliant. Can't wait to put it on the chart. Thanks for sharing!
makit0 kurtsmock
@kurtsmock, Thank you very much for your words, I really apreciate it :D
hello makit0,

can you insert 3 emas, too?
will be fantastic
here, I have a home plataform that I use a macd of delta cumulative.
Can you do this too? macd with ema.
it is so good to find divergences.

Thanks a lot for sharing this great script!

Any change you can add fast and slow MA's similar to this script

Or and an atr channel with an base line like this on for mean reversion strategies.
what is the bug you mention using the histogram mode for the plot that I should be aware of ?
makit0 v_perfect
@v_perfect, it's a known bug in the histogram, area and columns styles, even when you set the value to 'na' they have the zero base line into account so, in this case the candle mode would plot always with the zero value in the scale, this for values far from zero makes the visualization very ugly and without possibility of scale autoresize. So as workaround I've used areabr and circles for the volume and delta modes, but I'd really like to be able to use the histogram style for them... you can try the bug, just select the histogram style for any of them and then plot the candles, you'll see how it's unable to autoresize the scale.
this is really super cool ! thank you so much. i use delta, cum delta in my trading. I am looking forward to test drive this indicator
makit0 v_perfect
@v_perfect, Thank you so much! :) If you could give some feedback after you try it it'll be awesome. I've discovered delta two weeks ago, could you tell me how do you use it, and point me to some resources? I'm in my second trading year so any help would be great! Thanks!
@makit0, to begin with i would watch some youtube videos by mboxwave trading. he goes through some concepts. he also has a website which will give you some pointers. seems to be working for me. i trade futures using delta/cum delta on 1 and 3 min charts.
makit0 v_perfect
@v_perfect, Ok! thanks! :)
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