Volume Delta Candles MTF
- Indicators
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PATRICK PAARSCH
Performance of my Expert Advisors (Liquidity Lab) on Myfxbook: myfxbook.com/members/Stonedandrich/liquidity-lab/12248060 - Version: 3.90
- Activations: 15
Volume Delta Candles MTF – Candles Colored by Tick Volume Delta, Multi-Timeframe Delta and Absorption at a Glance
Volume Delta Candles MTF paints the candles of your main chart by the volume delta of their ticks: the balance between buying and selling volume inside each candle. The candle keeps its real shape, only the color shows who was in control. You can calculate the delta on a higher timeframe than the chart (for example M5 delta on an M1 chart).
WHAT YOU SEE
- Bullish color: positive delta, more buying than selling volume in the candle.
- Bearish color: negative delta, more selling than buying volume.
- Neutral candles (delta inside your threshold) get their own body color and an accent color on the wicks, so balanced candles stand out.
- Multi-timeframe: choose the delta timeframe in the inputs. If it is not larger than the chart timeframe, the chart timeframe is used.
DELTA ABSORPTION AT A GLANCE
Because the candle shape stays real, you see the difference between delta and price directly:
- Positive delta, price falls: a candle in the bullish color that closes down. Buyers were absorbed by sellers, a hint for a short setup.
- Negative delta, price rises: a candle in the bearish color that closes up. Sellers were absorbed by buyers, a hint for a long setup.
- Delta and price agree: a bullish-colored candle that closes up, a bearish-colored candle that closes down.
The indicator shows this visually. It does not send alerts or orders, the decision stays with you.
WITH A HEATMAP IT BECOMES A CHEAT CODE
Combine Volume Delta Candles MTF with a standard liquidity heatmap and you see at once whether a liquidity zone is absorbed or defended: price reaches a heat zone and the candle color shows who is really behind the move. The screenshots show exactly this combination.
Want a heatmap? After your purchase you can request one from me free of charge, just send me a private message on MQL5.
HOW THE DELTA IS CALCULATED
- Per tick: the volume goes to the buyers if the price direction is up and to the sellers if it is down. Optional: use the buy/sell flags of the ticks if your broker provides them, or real volume.
- This is an estimate from tick data, not order-book data. Results depend on the tick history of your broker.
- The delta of a candle = (buy volume − sell volume) / total volume. The threshold for neutral candles is an input.
BUILT FOR A SMOOTH TERMINAL
- Every tick is read exactly once. The cost per call stays constant, no matter how long the indicator runs or how busy the market is.
- After loading or a timeframe change the history is filled from the newest candle backwards: what you look at is colored first.
- A time budget per call and a batch limit protect the shared symbol thread. A performance report in the Journal (every 5 minutes, can be switched off) shows the indicator's own share.
- A lag watchdog reports when the chart falls behind the price. It only reports, it changes nothing.
COLORS
Input "Color scheme": Auto (default) follows the color scheme of your chart and updates live when you change it, Custom uses the color inputs. Optional signature in the corner (can be switched off).
INPUTS (SELECTION)
Delta timeframe, color scheme, delta threshold, real volume, tick flags, max. bars to color (default 500), tick window in hours (default 24), update interval, batch and time-budget limits.
GOOD TO KNOW
- By default the coloring covers the last 500 candles and at most 24 hours of ticks. On high timeframes only the recent candles get a delta color. You can raise both limits, which costs loading time.
- Needs the tick history of your broker. Without ticks, candles stay neutral.
- One indicator instance per chart is enough; several instances multiply the tick reading.
IMPORTANT NOTE
This indicator is an analysis aid, not a trading system and not investment advice. Trading leveraged products carries a high risk of loss. Test your use of the indicator on a demo account first.
