TradingView has added two new volume-based indicators, Volume Delta and Cumulative Volume Delta.
These indicators use intrabar volume and price fluctuations to estimate the difference (delta) between buying and selling pressure within each chart bar, providing insight into an instrument’s sentiment and market dynamics.
The regular Volume Delta indicator analyzes each chart bar from an intrabar timeframe (i.e., a timeframe lower than the chart’s), categorizing each intrabar’s volume as positive or negative.
It gradually accumulates the polarized volume values throughout a chart bar to calculate the volume delta, and it keeps track of the highest and lowest volume delta values accumulated over the bar’s duration.
The resulting values are displayed as a candle: the open is always 0, the candle’s…
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