JMF_Buy/Sell Delta Pressure

2022년 4월 17일

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.

2022년 4월 17일

릴리즈 노트

changed chart image to include annotations.
included Daily Cumulative delta value in metrics table.

2022년 4월 17일

릴리즈 노트

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.

2022년 4월 17일

릴리즈 노트

Color scheme change
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.

2022년 6월 5일

릴리즈 노트

Buy and sell volume labels added above and below histogram for quick reference. Can be turned off in settings.

2022년 6월 5일

릴리즈 노트

2022년 8월 24일

릴리즈 노트

updated the ability to resize the delta numbers above and below the histogram. Now 3 font sizes to choose from.

2024년 7월 8일

릴리즈 노트

[v1.1.0] - 07/07/2024
Added
Added input options for Size.auto in Label size settings for enhanced readability of the labels above and below the histogram.
Changed
Refactored the label creation logic for better readability and maintainability.
Included the usage of weekly and monthly time frames by removing the conditions if barstate.islast and timeframe.period != 'W' and timeframe.period != 'M' before core delta logic is executed. This will enable timeframes above Daily including weekly, monthly, and so on.
Fixed
Corrected the logic for summing up volume in the pre-market time range.
Fixed potential issues with variable initialization and usage.

2024년 7월 8일

릴리즈 노트

Changelog
[v1.2] - 07/07/2024

Avg 30 bar logic update - After the initialization of Daily and Weekly, a small bug was introduced in the average logic. This is now fixed. "Avg 30 bars" was giving a "Nan" value. This has been corrected, and the average of the last 30 bars now reflects the simple moving average over the last 30 bars of any user time frame. The percentage of that is then calculated from the current bar's volume to show how much of the average 30 bars has been completed.

2024년 7월 8일

릴리즈 노트

Auto added to label size.