This indicator shows delta of x previous bars buy and sell volume sum on a histogram.
It sums up the bars volume data, calculates the delta by subtracting the buy volume sum from sell volume sum, and then assigns the delta value to the current bar.
If you have used the cumulative delta indicator its very similar to it except it sums up only a limited number of bars volume not the whole available bars data on the chart.
You can use this indicator to find out the shifts in volume from buyers to sellers or vice versa, the histogram makes the indicator data interpretation very easy and you will find out that price and the indicator data follow each other closely.
- It can show another time frame data on your chart
- Few parameters and easy to configure and use
- Separates the data onto up/down bars based on the delta value