Market Delta Tool for real-time bars
A market delta tool that shows, (1) the that got transacted on upticks - or the market buy ; (2) the that got transacted on downticks - or the market sell (3) the market delta (i.e., market buy - market sell ); (4) the total (market buy + market sell + neutral ); and (4) the that got transacted without a change in price - or the neutral (total = market buy + market sell + neutral )
NOTE: THIS WORKS ONLY ON REAL-TIME BARS, NOT ON HISTORICAL BARS! The dotted line marks the start of real-time data (i.e., the bar from which the indicator started collecting and displaying data). You will see accurate data only for bars to the right of this line.
The longer you keep a chart open with the study enabled, the more data it collects and displays and the better your analysis can potentially be.
Note that the data gets reset every time any of the options is changed, the market is switched, the browser is refreshed, or the script is reloaded.
DATA ISN'T STORED. I.e., every time a new symbol is loaded/or the same symbol is reloaded, data gets refreshed.
Who is it for?
For traders who are used to analyzing buy/sell activity using market delta information. Especially, short-term trader/scalpers who are used to keeping the same chart open through the trading session.
Also for traders to see and study how anomalies in can give clues to buyer/seller absorption, initiative buying/selling etc.
Can be used to better understand VSA as well, although not necessary.
Essentially, this gives real-time delta information; use it however you see fit.
- Now you can view Market Buy/Sell and Neutral volume as a percentage of the total volume. Enable it from Settings. Default is Off. (i.e., will show actual volume data)
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 a publication is governed by House Rules. You can favorite it to use it on a chart.