This is an interesting indicator created by Walterw. The Volume Delta plots the number up volume (green) and number of down volume (red) with the larger of the two always on top. This is a very useful visual tool to judge buyers vs sellers per bar.

All credits go out to Walterw for the TICK Delta. Also check out the oscillator version of this indicator.

Screenshots are attached.

[ItalianSharp]

Is there an eSignal version of this useful volume indicator? It's very visual and gives you an immediate snapshot of supply/demand at key S/R points.

Props to the creator.

[notouch]

Yes there is check out the esignal central website. It's called BidAskVolume.efs or something. Produced by a member of the eSignal development team.

[ItalianSharp]

Originally Posted by notouch »

Yes there is check out the esignal central website. It's called BidAskVolume.efs or something. Produced by a member of the eSignal development team.

Thanks!

I just found it...it only works with live data yet it's an excellent indicator...

[jpan12]

Hi Guys,

Is this indicator available for MT4? if so where can I download it from?

Cheers

J = )

[torero]

MT4 is mostly for forex. Might want to check with Forex Forum, Forex Calendar, Forex News @ Forex Factory

[ItalianSharp]

I believe this is one of the most powerful indicators you can use as a trader.

I've always been interested in volume and tried to figure out an efficient way to use it but to no avail. Volume by itself only tells me how many participants and how much action there is at any given point.

With volume delta you can literally see who's winning the battle in the trenches at key pivot points. I think it's a great tool for timing entries and exits and it helps enormously to manage the trade properly.

Now I finally know what to make out of volume. )

Since I am an eSignal user, this indicator is only available for live data. This totally sucks because if you switch timeframe in your charts, the volume delta must be re-plotted from scratch.

Is any other eSignal user aware of this problem and is there a solution to this?

Are you TS users allowed to reload your charts and still see the volume delta bars from the beginning of the trading sessions or even previous days?

IS

[nickm001]

in TS if you were to use Up/DN Volume... it would be only RT.... What Delta Indicator is doing is using UpTIcks/DownTicks instead to approximate volume. This change also allows historical back testing.. (data is always available, not only in RT)