Buy Sell Volume with delta value

The Buy Sell Volume with delta value indicator decomposes total traded volume into buying and selling components based on price action within each bar to help traders assess market pressure and confirm potential trend directions.

Usage

The Usage section describes how the script can be used to analyze market sentiment through volume distribution. By splitting the standard volume bar into buying and selling pressure, traders can quickly identify whether a candle's volume was dominated by aggressive buyers or sellers.

Key applications include:

• Market Pressure Assessment: Determine if a price move is backed by significant buying or selling volume.
• Trend Confirmation: Use the percentage ratios to see if a trend is gaining strength (increasing dominance) or losing steam.
• Delta Analysis: The "Delta" value provides the absolute difference between buy and sell percentages, highlighting the degree of imbalance in the market.

Historical ratios can be inspected by hovering over specific bars and checking the TradingView Data Window or the indicator's tooltips. A real-time table in the top-right corner provides an immediate breakdown of the current bar's Buy, Sell, and Delta percentages.

Details

The script uses a price-action-based decomposition method to estimate buy and sell volume from total volume data. Because traditional exchange feeds often aggregate trades, this indicator approximates the split using the candle's High, Low, and Close:

• Buy Volume: volume * (close - low) / (high - low)
• Sell Volume: volume * (high - close) / (high - low)

The visualization consists of a dual-sided histogram. The upper and lower translucent columns represent the total volume, while the solid internal columns represent the calculated buying (teal) and selling (red) volumes.

Settings

The indicator does not utilize external input parameters for its core calculations, as it relies directly on price and volume data. The following outputs are available for visual customization:

• UPPER V / LOWER V: The total volume plotted above and below the zero line to create a background for the breakdown.
• SELL V: The calculated selling volume component, plotted as a solid red column.
• BUY V: The calculated buying volume component, plotted as a solid teal column.

FAQ

How do I access Buy Sell Volume with delta value?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Why is the volume split different from my Level 2 data?

This indicator uses a mathematical approximation based on the candle's OHLC values to estimate flow. While highly effective for identifying trends, it is an estimate and may differ slightly from tick-by-tick order flow data.

Can I set alerts for volume shifts?

Yes, the script includes built-in alert conditions that trigger when buying volume overtakes selling volume (and vice versa), allowing you to stay informed of shifts in market dominance.