Delta Volume Columns Pro

The Delta Volume Columns Pro indicator provides a comprehensive volume delta analysis by utilizing intrabar inspection on historical bars and real-time feed updates. It aims to reveal market characteristics through five distinct delta models, allowing traders to visualize buy and sell volume balances as either stacked columns or a sophisticated signal line.

Usage

The script offers two primary visualization modes: Columns and Line.

• Columns Mode: Displays stacked buy/sell volume where the buy section is above the centerline and the sell section is below. You can independently color these sections using eight different methods, such as standard bull/bear coloring or gradients based on average balance.
• Line Mode: Plots one of seven signals, including the five core balances (On Bar, Average, Momentum, Relative, and Percent). The line and its fill can be colored using independent calculations to pack multiple layers of information into a single visual.
• Divergence Levels: Automatically draws expanding levels when price action and volume delta directionally disagree, creating dynamic channels that mark points of market hesitation.
• Chart Bar Coloring: You can color chart bars based on volume delta balances or highlight divergences directly on the price action.

Details

The indicator bridges the gap between historical and real-time data by using two modes of calculation. On historical bars, it performs intrabar inspection—looking at smaller timeframes within a single chart bar—to categorize volume as "Buy" or "Sell" based on intrabar price movement. In real-time, the indicator processes each price update for maximum precision.

The five volume balances include:

1. On Bar Balance: Simple subtraction of Sell volume from Buy volume.
2. Average Balance: Subtracts a Sell EMA from a Buy EMA.
3. Momentum Balance: An RSI-based calculation derived from the difference between EMAs and SMAs of buy/sell volumes.
4. Relative Balance: Highlights significant volume by only accounting for volume that exceeds its EMA, useful for spotting "no-trade" consolidation zones.
5. Percent Balance: An ALMA-smoothed ratio of the bar's delta relative to its total volume.

Settings

• Columns: Toggle columns on/off and select independent coloring modes for tops and bottoms.
• Line: Select the calculation source (e.g., Average Balance) and adjust thickness and coloring logic.
• Divergences: Configure detection modes for divergence dots and dynamic levels.
• Background: Enable bull/bear background gradients based on various delta calculations.
• Chart Bars: Choose coloring methods for price bars, including the option to "hollow out" bars on decreasing volume.
• Intrabar Timeframe: Select the granularity for historical inspection (Auto-steps or Fixed).
• Markers: Toggle visual triggers for Balances Agreement, Double Bumps, and Shifts.
• Periods: Fine-tune the lookback periods for EMAs, SMAs, and ALMA smoothing.

FAQ

How do I access Delta Volume Columns Pro? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Why does the indicator repaint on historical bars? The indicator uses high-precision real-time updates for the current bar, but once that bar closes and the chart is refreshed, it reverts to intrabar inspection for historical bars. This can result in slight value changes due to the different data granularity.

Why are no values plotting on my chart? The indicator requires a data feed that provides volume information. Additionally, you must be on a supported timeframe (e.g., 3m, 5m, 1h, 1D) for the historical intrabar inspection to function.