This indicator attempts to show price source delta, mostly for intraday trading but may have applications on higher timeframes.
Choose a different symbol from the chart, or use formulas, pick price source (close, open, lows, etc) and a cumulation calculation type.
There are three to choose from and the tooltip provides the differences, they are as follows: 1) Basic - quite simply just takes the symbol source value and keeps a rolling summation 2) Advance or Decline - handles negative values as reductions to the cumulative calculation, useful to find delta pivot areas 3) Ratio - useful for ... ratio symbols ... such as market internals or your own custom ratios where 0 is balance/mid.
The trend line can be adjusted via length, histogram and trend colors indicate trend and directional shifts at a glance.
Since many ratio symbols, and some indexes, (looking at you NYA), don't offer volume I opted to drop it from this indicator.
I think every other indicator that tracks delta on TradingView makes use of volume and I couldn't find a single one that didn't and as such there is a gap in the vast library of indicators.
Enjoy!
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.