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DeltaID5 R002 DeltaVolume

Indicator inspired by the famous MarketDelta-family charts. The indicator computes the net difference between trades occurring at bid and at ask, while trades occurring between bid and ask quotes are treated as having no influence on price movement.

The indicator value is the net difference between the volume hitting the bid and the volume hitting the ask quotes, which actually have enormous impact on price movement.

Several setups and strategies can be created with "traditional" indicators and the DeltaVolume indicator, i.e. you can basically use the DeltaVolume indicator to "follow" what other traders are doing and "confirm" any setup or strategy according to the activity of other traders.

With the DeltaVolume indicator you will actually be able to see the order flow entering the market and trade according to it.

  • Warning: this indicator does not work for the majority of Forex brokers and symbols, because they usually do not inform where the last quote is occurring (at bid / at ask / between).
  • Warning 2: this indicator does not work with the Strategy Tester (even in Tick Mode, as far as I've seen).
  • Warning 3: you can easily check if you're getting the correct bid/ask/last quotes following these steps: 1) open the MarketWatch; 2) click on any symbol and then click on the 'Ticks'-tab on the bottom; 3) press 'B', then 'A' and finally 'L' until you see three lines (a red, a blue and a green one); 4) observe if there is a green line and, most important, if this line moves constantly between the blue and red lines; if there is no green line or if this green line is constantly positioned over one of the other two lines, then this indicator will not work for this given symbol. 
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Version 3.71 - 2015.02.16
■ Indicator data is now saved on a .DAT file
■ Possibility to change timeframe with no loss of information
Version 1.3 - 2014.02.19
Added two panels in the indicator subwindow.
- The first panel shows the percent Delta Volume for the current day.
- The second panel shows the percent of ticks transacted AT BID (red) or the percent of ticks transacted AT ASK (green).
Obs.: Ticks transacted BETWEEN quotes are not considered by the indicator.