OPEN-SOURCE SCRIPT

[Mad] Volume Delta

Updated
This is a volume indicator that splits purchases and sales into 2 separate columns.

In addition, I added some POW factors to scale the volume to a more compact or expanded picture.

The SMA draws the red line indicating the volume of purchases and sales, also with POW factor customizable, so it is possible to scale it within the volume bars

what to do with this information: it is very easy to find rotation points when the selling volume and the buying volume are equal, this is where possible rotation phases occur

have fun
Release Notes
overlay true -> overlay false
Release Notes
Volume Compressor added to the script
thx gorx1 for the math
Release Notes
extension with "in candle delta"
addition of a dev-cloud
changed standard colors from
color.rgb(000, 255, 255, 000) and color.rgb(255, 255, 000, 000) to
color.rgb(000, 255, 000, 000) and color.rgb(255, 000, 000, 000)
Release Notes
cleanup pass
Release Notes
Vector-Candle coloring and Ui cleanup
Release Notes
typo...
Release Notes
Code cleanup and sorting the options into a more organiced way
Release Notes
middleline color selectable and moved in the background behind all plots
Release Notes
Lower timeframe added,
Cleanup of inputs,
New Presentation of singular volume
Centered OscillatorsVolume Indicatorvolumedelta

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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djmad|Bitblockart

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