Volume Delta Candles HTF LTF Volume Candles

The Volume Delta Candles HTF LTF Volume Candles indicator provides a visual representation of the internal buying and selling pressure within individual candlesticks using lower timeframe data. By calculating the ratio of supply and demand, the tool allows traders to see volume distribution directly on the price chart without the need for secondary oscillators.

Usage

The tool is primarily used to analyze the internal order flow of a candle, helping traders identify which side of the market is in control.

• Internal Volume Bars: The candles are color-coded based on the calculated delta. Green sections represent demand strength, while red sections represent supply strength.
• Highest Volume Levels: The indicator identifies and plots a horizontal line at the price level within a candle where the highest volume occurred. This acts as a localized point of control and can serve as immediate support or resistance.
• Trend Confirmation: Traders can use the expanding or contracting volume ratios to confirm the strength of a current trend or spot potential exhaustion before a reversal.
• Order Flow Analysis: By looking at the ratio of buyers to sellers within a single bar, users can gauge if a price move is backed by significant participation or if it is a low-volume fluctuation.

Details

This indicator leverages the request.security_lower_tf function to pull granular data from a specified lower timeframe. It calculates the "Delta Ratio" by evaluating the price position relative to the high/low range of the bar and multiplying it by the volume.

The script offers an "Ultra Data" mode which attempts to aggregate volume from multiple data providers (for Forex and Crypto) to provide a more comprehensive view of global volume, rather than relying on a single exchange's data.

Settings

• Lower Time Frame Volume: Sets the timeframe used to identify the highest volume price levels. Lower timeframes provide more precision.
• Cumulative Mode: Choose between 'Current Candle' for per-bar statistics or 'EMA' for a smoothed representation of volume strength.
• Period: Sets the lookback period for the Exponential Moving Average when in EMA mode.
• Ultra Data: When enabled, the indicator pulls and aggregates volume from various market sources.
• Market Ultra Data: Selects the asset class (Forex, Crypto, or Stock) for the Ultra Data aggregation.
• Table Settings: Options to show/hide the info table, adjust text size, and change its position on the chart.

FAQ

How do I interpret the black lines on the candles? The black lines represent the price level within that specific candle where the highest volume of trading activity occurred, identifying the "point of control" for that bar.

What is the benefit of the EMA Cumulative Mode? The EMA mode smooths the delta ratio over a period of bars, making it easier to identify sustained shifts in buyer or seller dominance rather than reacting to single-bar volatility.

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