Delta Ladder [Kioseff Trading]

Hello!

This script presents volume delta data in various forms!

Features

• Classic mode: Volume delta boxes oriented to the right of the bar (sell closer / buy further)
  
• On Bar mode: Volume delta boxes oriented on the bar (sell left / buy right)
  
• Pure Ladder mode: Pure volume delta ladder
  
• PoC highlighting
  
• Color-coordinated delta boxes. Marginal volume differences are substantially shaded while large volume differences are lightly shaded.
  
• Volume delta boxes can be merged and delta values removed to generate a color-only canvas reflecting vol. delta differences in price blocks.
  
• Price bars can be split up to 497 times - allowing for greater precision.
  
• Total volume delta for the bar and timestamp included
  

The image above shows Classic mode - delta blocks are oriented left/right contingent on positive/negative values!



The image above shows the same price sequence; however, delta blocks are superimposed on the price bar. Left-side blocks reflect negative delta while right-side blocks reflect positive delta! To apply this display method - select "On Bar" for the "Data Display Method" setting!



The image above shows "Pure Ladder" mode. Delta blocks remain color-coordinated; however, all delta blocks retain the same x-axis as the price bar they were calculated for!



Additionally, you can select to remove the delta values and merge the delta boxes to generate a color-based canvas indicative of volume delta at traded price levels!



The image above shows the same price sequence; however, the "Volume Assumption" setting is activated.

When active, the indicator assumes a 60/ 40 split when a level is traded at and only one metric - "buy volume" or "sell volume" is recorded. This means there shouldn't be any levels recorded where "buy volume" is greater than 0 and "sell volume" equals 0 and vice versa. While this assumption was performed arbitrarily, it may help better replicate volume delta and OI delta calculations seen on other charting platforms.

This option is configurable; you can select to have the script not assume a 60/ 40 split and instead record volume "as is" at the corresponding price level!

I plan to roll out additional features for the indicator - particularly tick-based price blocks! Stay tuned (:

Thank you!