V.C. Effort & Result Index draws the Price change, Volume, Delta & Delta % as a histogram. On the positive side of the histogram, it marks the price change & on the negative side of the histogram, it marks volume, delta & delta %. And the best part of the indicator is that it allows you to see all the mentioned data types simultaneously. See the below chart for a comprehensive understanding.
Before moving further, understand the below analogy first.
Volume & Delta = Fule or Effort Price Movement = Result
Think of Volume & Delta as FULE or EFFORT and Price Movement as Result.
If the price travels a significant distance with less fule & effort, it indicates that no barriers or inverse forces are stopping the price movement. On the other hand, if the price is travelling a less distance & consuming comparatively more fule & effort, it indicates some barriers or inverse forces stopping the price movement.
V.C. Effort & Result Index empowers you to read, compare & analyse Volume, Delta & Price effortlessly. It helps to measure the relative price change in different combinations. Such as, you can compare the price change with total volume, delta volume & delta percentage. See the below relative comparison analysis by using Price Change, Volume Change & Delta Change.
In the above example, you can see that on candle A, there is a very significant price move with a small volume & delta. But on the next candle B, there is a minor price move compared to the previous candle A, but the volume is relatively high & delta is almost the same. In simple words, the same effort was applied to candle B but got fewer results than candle A. It indicates that buyers applied the same effort but failed to get the same results. It reveals that sellers are taking control, leading to a trend reversal. This comparative analysis method & approach can add an extra edge to your analysis spacially on key levels & breakouts.
V.C Effort & Result Index Settings & Inputs
Price Change: Allow you to show/hide the price change bars on the positive side of the histogram. Volume: Allow you to show/hide the total volume on the negative side of the histogram. Delta%: Allow you to show/hide the delta % on the negative side of the histogram. Delta: Allow you to show/hide the delta on the negative side of the histogram.
Style Settings
The Style section allows you to change the colors & the view format of all data types.
Disclaimer Note: V.C Effort & Result Index is not a BUY/SELL signal based indicator or a holy grail trading system. It is purely Volume, Delta, Demand & Supply imbalance and comparative analysis based tool kit. Before applying this indicator to your analysis, you should know about Volume, Delta & Spread, and Demand & Supply. Some basic understanding of Sir Richerd Wyckoff's Theory can also be helpful.
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Scale Adjustments For Price Side In the Input section Price Scale Adjustment Setting has been added. It will help to adjust the price scale relative to Volume & Delta. For example, if on some instruments & on the higher time frames, the Volume & Delta scale is too large compared to Price Scale, increase the Price Scale & set it accordingly. Note: No Need to change this setting unless you need exact scale levels for precise analysis. The default setting is perfectly working on most of the instruments & time frames. Another IMPORTANT point is, Suppose you are using VC IMBALANCE DETECTOR INDICATOR on the same chart & you adjust the scale of this indicator. In that case, you must apply the same scale settings in VC IMBALANCE DETECTOR INDICATOR to have accurate values & analysis.
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Delta to Total Volume Relative Ratio Fixed. Zero Line Option Added Between Price & Delta Histogram.
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Precision Values Updated.
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Minor modifications in the input & style sections related to the histogram show/hide switch.
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Explanation added in the tooltip.
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📣 We are thrilled to introduce the new Precision Delta feature with LFT (Lower Time Frame )! Now, you have the power to extract Precision Delta not only from the primary symbol but also from 10 other symbols. This enhancement brings a new level of accuracy and flexibility to your trading & analysis.
🔍 What's New: 1️⃣ Precision Delta with LFT: Get a more accurate representation & extraction of the Delta. This advanced mathematical model ensures better precision in your trading analysis.
2️⃣Multiple Data Feed Support: With this update, you can now access Delta information from 10 distinct data feeds for the same symbols. This means you have access to a variety of data sources, providing you with a comprehensive view of the market and its dynamics.
3️⃣ Delta Divergence Indication: We've introduced an innovative Delta Divergence Indication feature that will assist you in spotting potential opportunities in the market. This tool will help you identify the divergence between Delta and the underlying asset's price movement, enabling you to make more informed trading decisions.
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No logic changes, just improved few strings.
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Release Update: Lower Time Frame & Additional Ticker Functionality Temporarily Removed due to Memory Limitations. These features will be reintegrated after script refactoring.
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We're thrilled to announce some fantastic new features & enhancements.
New Delta Calculation Algorithms Introduced
Lower Time Frame Functionality Introduced
Delta Divergence Indication Added
Functionality to Add Up to 6 Additional Data Feeds
Stay tuned for more details, use cases, and comprehensive documentation, which will be included in our next updates!
Greetings Tahir, I got these tools yesterday and gotten a few trades in XAUUSD today that paid for the buy. This is an extraordinary instrument to assist me with picturing what's happening behind the fundamental candles.
BTW, these tools assisted me with avoiding a few trades that required greater clearness. Letterly I found my edge.