Delta Bar
The Delta Bar indicator shows the delta of each candle, i.e., the difference between buy market and sell market, through footer bars on the chart. This allows traders to visually identify market pressure by comparing the volume of aggressive buying versus aggressive selling at each price level.
Using Settings
Clicking on the indicator's settings icon will open its configuration window, within which you can make several choices regarding the indicator's functionality.
Parameters (Data Setting)
Defines which database to use to calculate the indicator. You can choose from the following options:
- Volume: Represents the total volume traded at each price level. This database is useful for understanding the intensity of trading and identifying the price levels at which most market activity occurred.
- Order: Considers order data, such as the quantity of buy and sell orders at each price level. This option is useful for assessing order pressure and analyzing the behavior of market participants.
- Trades: Keeps track of the number of trades executed at each price level.
- Aggregate Volume: Shows the aggregate volume by combining small orders placed within a short time frame that are traceable to a single larger order. This provides a more accurate view of trading activity levels.
- Aggregate Trades: Show the aggregate trades, i.e., small orders placed within a short time frame of each other that are traceable to a single larger order. This option provides a more accurate view of trading activity levels by grouping trades executed at the same price.
Filtering
Filter Min
Lets you apply a minimal filter to the indicator. Only delta values above this threshold will be displayed.
Filter Max
Lets you apply a maximum filter to the indicator. If the value 0 is left, the indicator will not apply any maximum filter. Set a specific value to exclude delta bars that exceed this threshold.
Subgraphs
In this section you can define the visual appearance of the delta bar indicator:
- Colors: Define the color scheme for the delta bars (typically different colors for buy vs sell delta)
- Subgraph Style: Choose between different display styles:
- Candlestick: Display delta as candlestick-style bars
- OHLC: Display as Open, High, Low, Close format
- CandleBody: Display only the body of the candle without wicks
- Line Width: Adjust the width/thickness of the delta bars for better visibility
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