Many traders use volume analysis for their everyday trading strategies. This is proved by the simple fact, that volume based products are most popular ones among all my products in the Market. The best-sellers are certainly VolumeDelta and VolumeDeltaM1 indicators.
They provide a usefull yet not the only possible presentation of volume breakdown chart. In addition to per-bar volume delta, which is shown as a zero aligned horizontal histogram, there is another type of the chart - accumulated volume delta bars (candlesticks). The latter is of course more graphic and familiar. This is why I have been receiving requests from users to support this mode. And finally the familty of VolumeDelta indicators was extended to include 2 new products: CumulativeDeltaBars for MetaTrader 4 and VolumeDeltaBars for MetaTrader 5. Both are intended for timeframes M5 and up (M1 is not yet implemented). Please have a look (VolumeDeltas are shown just for reference, they are not required).
They are based on the same logic inside, which drives the standard VolumeDelta indicator, but leverages more sophisticated system of buffers.
Actually, VolumeDelta indicator provides somewhat similar cumulative delta as a single green line, so you can continue using it, but if someone likes the candlesticks more, please, move to the new upgraded edition.
Also VolumeDeltaM1 indicator has been ported to MetaTrader 5.
