scarf

Wick Delta Buy/Sell Pressure

If you think of a perfect doji candle, where the wicks on top and bottom are exactly the same, that's a candle with a delta of 0. What this indicator does is show the delta/difference between wicks, if the top wick is longer than the bottom wick it show's sell pressure/bear interest, which is displayed as a red bar and vice versa for buy/bull pressure, which is shown as green bars. I added arrows for clarity.

It's a different way of visualising wicks, which can clarify sentiment and be a useful way to understand wicks better in general. One way to use it is to look for clusters of 3/4 larger bars in a row, which generally helps to determine future direction especially when seen at important levels.
Notas de Lançamento: Updated to highlight the bigger/more important wicks
Script de código aberto

No verdadeiro espírito TradingView, o autor deste script o publicou com código aberto, para que os traders possam compreendê-lo e verificá-lo. Um brinde ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para utilizá-lo em um gráfico.

Quer usar esse script no gráfico?

Comentários

You have such a good ideas and you are capable to express them. Thank you
+3 Resposta
Appreciated your effort and generosity scarf =D
+2 Resposta
i like how you think...!tx!
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Wonderful profitable idea! Thanks!!!
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Hi, i have a lot of empy bars for ur indicator on a different TF:
https://puu.sh/I6GCC/56653aaeca.png
https://puu.sh/I6GCN/8cfb84e2d0.png
https://puu.sh/I6GCP/c15b230a4c.png
Any idea why it work "wrong"? Im off cloud visual, that's all.
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Can you display the delta bars as OHLC candles containing the wicks?
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so its not a entree signal, how would i use it for long position
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any idea how to move averaging this?

perhaps a moving average of buyers and another moving average of sellers.

The volume serves to accompany the price therefore a moving average would be more visual than just seeing a column.
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Amazing.
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cool idea!!
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