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Order Flow Balance

Order Flow Balance is a powerful indicator for Tape Reading (Time & Sales). It helps you analysis Order Flow Market, find where the players are moving in, market imbalance, possible reversal points and much more! Indicator works on MOEX, BM&FBOVESPA, CME, etc.

It has 4 different indicator types

  • Daily Balance: Also know as Cumulative Volume Delta, it is an advanced volume analysis method where traders can see the daily difference between aggressive buyers and aggressive sellers. Comparisons between buyers and sellers are studied for divergences and momentum shifts as potential entry points into a trend or counter trend trade. If it is value is positive, then we have more aggressive buyers. If it is negative, we have more aggressive sellers.
  • Volume Delta: This indicator displays volume delta for each bar, which is the difference between aggressive buyers and aggressive sellers. This is also a very important indicator used by successful trading professionals, and it can be a great fit for any trading systems. If it is value is positive, then we have more aggressive buyers in that bar and vice-versa if it is negative.
  • Volume++: Shows volume information for each bar such as volume total, buyers volume, sellers volume and neutrals volume. The last one is when the transaction occurs between Ask and Bid.
  • Volume Delta 2: A new way to visualize Volume Delta. It shows aggressive buyers and aggressive sellers through histogram’s positive and negative values, respectively, instead of show only their difference.


Parameters Description

  • Bars: Calculation bars.
  • Indicator type: Description above.
  • Analysis mode: Use it always in auto mode. Raw mode should only be used by broker for testing purposes.
  • Positive balance color: Color setting when Daily Balance is positive.
  • Negative balance color: Color setting when Daily Balance is negative.
  • Width: Daily Balance width.
  • Positive Delta color: Color setting when Volume Delta is positive.
  • Negative Delta color: Color setting when Volume Delta is negative.
  • Width: Volume Delta width.
  • Volume color: Total volume color setting.
  • Width: Volume width.
  • Buyers Volume color: Buyers Volume color setting.
  • Width: Buyers Volume width.
  • Sellers Volume color: Sellers Volume color setting.
  • Width: Sellers Volume width.
  • Neutrals Volume color: Neutrals Volume color setting.
  • Width: Neutrals Volume width.


Important

  • This indicator works at ANY time frame.
  • It´s algorithm has been optimized to not waste unnecessary computer resources, no delay!
  • This indicador uses CopyTicks function to access Time & Sales, please check with your broker the data availability.
  • Demo version works in Strategy Tester with "Every Tick based on real ticks". Keep in mind to check with your broker the data availability.

Happy Trading!

Renat Safin
102
2017.01.25 09:17 
 

An excellent indicator. Very fast.

In the trade, this indicator is indispensable.

Version 1.2 - 2017.06.30
Added Volume Delta 2 - a new way to visualize Delta
Minor bug fixes.
Version 1.1 - 2017.01.31
Working with MOEX Exchange