Volume Delta [hapharmonic]

2024년 5월 5일

Volume Delta: Volume Delta is an indicator that simplifies how you analyze trading volumes and the percentage of buy-sell activities effortlessly.

As a trader or market analyst, understanding underlying volume and trade flows is critical. The Volume Delta indicator provides thorough insight into both the total volume and the percentage of buying versus selling within the current candlestick. This information is pivotal for those looking to gauge market momentum and sentiment more effectively.

Additionally, the Volume Delta indicator can plot the candlestick colors based on the percentage of the dominant buying or selling volume. The area between the open and close prices of the candlestick is considered 100% and fills with colors corresponding to the predominant volume at that percentage.

Volume Delta also integrates the concept of Net volume. This component is crucial as it reveals the real market sentiment by calculating the difference between the volume of trades executed at an uptick and those at a downtick.

🟠Overview

This indicator now displays in two layouts. Recently, Tradingview introduced the "force_overlay=true" function in Pine Script, allowing plots to be moved to the main chart. Thus, all displays are from the same indicator.


🟠USAGE

From the data displayed in 'plot.style_columns', the peak area represents the entire volume, accounting for 100%. Within this area, there are two color levels indicating volume. If one type of volume, whether buying or selling, exceeds the other, the larger volume will be positioned behind and the smaller in front. This arrangement prevents the scenario where a higher buying volume obscures the smaller selling volume. Therefore, the two colors can be switched between the front and the back as needed.



As you can see, the 12 and 26-day Exponential Moving Averages (EMAs) are used, with the Volume Confirmation Length set at 6. Therefore, the crossing of the EMAs proceeds normally, but it is highlighted with three triangular arrows to indicate a high likelihood of a valid crossover. However, if the volume is insufficient, these markers won't be displayed, although the EMA crossover will still occur as usual. This can be useful for using volume to verify the significance of the EMA crossover.



🟠Setting

If you enable the label, please be aware that the chart size will shrink, causing the candlestick display to become unclear. Therefore, you might need to select "Logarithmic" at the bottom right of your screen, or for mobile applications, press and hold on the price scale and choose "Logarithmic" to adjust the scale appropriately.



Enjoy!

2024년 5월 31일

릴리즈 노트

- Add EMA alert
- Add volume option
- Improve plot display

2024년 6월 3일

릴리즈 노트

- Fixed Alert Errors
- Support for Multiple Notifications in a Single Setting
- Added Volume, Percent, and Net Information Displayed in the Table Integrated with Notifications

2024년 6월 29일

릴리즈 노트

Minor adjustments

1월 29일

릴리즈 노트

• Fix the "Invalid number of bars back specified in the history-referencing operator" error.
  
• Convert to Pine V.6.
  

11월 15일

릴리즈 노트

Enhanced Precision & User Experience

This major update introduces a significant overhaul to the core logic and user settings, focusing on providing a more accurate volume delta calculation and a more intuitive user experience.

Here are the key improvements:

• Complete Overhaul of the Volume Split Engine: The previous version utilized a heuristic based on the candle's structure to approximate buy and sell volume. This method has been replaced with a far more precise engine that leverages lower-timeframe data.
  

  
  Bid/Ask Analysis: For the highest accuracy, the script now analyzes tick-level data to determine the trade side based on whether transactions occur at the bid, at the ask, or between the spread. This reflects the true market aggression behind the volume.
  Multi-Resolution Support: The engine intelligently probes for the highest-resolution data available to your account (Ticks, then Seconds, then Minutes) to ensure the most precise split possible.
  
  

• User-Friendly Configuration via Account Tier Selection: A new user-friendly dropdown menu has been introduced.
  

  
  "Select Your Account Tier": Users can now simply select their TradingView plan (Standard, Premium, or Ultimate). The script automatically chooses the best calculation method available for that tier. This simplifies the setup process and reduces user error.
  Detailed Tooltips: This new input is supported by a comprehensive tooltip explaining the benefits, accuracy levels, and requirements for each tier, making it easy for new users to understand.
  
  

• Advanced Granular Controls:

  
  

  • `Use Bid/Ask` Toggle: For Ultimate tier users, a new option allows toggling the bid/ask analysis on or off, providing control over the highest-precision calculation method.
    
  • `Lower-TF Calc Bars`: This new input allows advanced users to fine-tune the performance-vs-precision balance by controlling how much lower-timeframe data is fetched for each bar.
    

  
  

11월 18일

릴리즈 노트

Bring back the missing input for Position, Size Label, Size Table