This is Cumulative Delta Volume script based on LonesomeTheBlue script. I added multiple options to identify the trend based on the standard deviation and moving average. You can use it along with your strategy to confirm the entry and exit referring to the delta volume (the difference between buying and selling volume at each price level.
CODE:
CSS:#study("Cumulative Delta Volume", "CDV") #https://www.tradingview.com/script/vB1T3EMp-Cumulative-Delta-Volume/ # Created based on LonesomeTheBlue code link above - Sam4Cok @ 08/2022 declare lower; input linestyle = {default Candle, Line}; input HeikinAshi = yes; #"Heikin Ashi Candles?") input maType = {default "SMMA", "SMA", "HMA", "EMA", "WMA"}; input maLength = 50; #"MA Length" input BarColor = no; input BackgroundColor = yes; input ShowMovAvg = yes; input ShowBand = no; def na = Double.NaN; ############### script nz { input data = 0; input replacement = 0; def ret_val = if IsNaN(data) then replacement else data; plot return = ret_val; } #ma(source, length, type) => script ma { input source = close; input length = 0; input type = "SMA"; def ma; ma = if type == "SMA" then SimpleMovingAvg(source, length) else if type == "EMA" then ExpAverage(source, length) else if type == "WMA" then WMA(source, length) else if type == "HMA" then WMA(2 * WMA(source, length / 2) - WMA(source, length), Round(Sqrt(length))) else if isNaN(ma[1]) then SimpleMovingAvg(source, length) else (ma[1] * (length - 1) + source) / length; plot result = ma; } #_rate(cond) => script _rate { input cond = 1; def criteria = if cond == 1 then open <= close else open > close; def tw = high - Max(open, close) ; def bw = Min(open, close) - low; def body = AbsValue(close - open); def ret = 0.5 * (tw + bw + (if criteria then 2 * body else 0)) / (tw + bw + body); def rate = if nz(ret) == 0 then 0.5 else ret; plot Result = rate; } def deltaup = volume * _rate(1); def deltadown = volume * _rate(0); def delta = if close >= open then deltaup else -deltadown; def cumdelta = TotalSum(delta); def o; def h; def l; def c; def ctl; if linestyle == linestyle.Candle then { o = cumdelta[1]; h = Max(cumdelta, cumdelta[1]); l = Min(cumdelta, cumdelta[1]); c = cumdelta; ctl = na; } else { o = na; h = na; l = na; c = na; ctl = cumdelta; } def LineClose = ExpAverage((cumdelta[1] + Max(cumdelta, cumdelta[1]) + Min(cumdelta, cumdelta[1]) + cumdelta) / 4, 5); def LineOpen = ExpAverage(if IsNaN(LineOpen[1]) then (cumdelta[1] + cumdelta) / 2 else (LineOpen[1] + LineClose[1]) / 2, 5); plot Line = ctl; Line.AssignValueColor( if LineClose >= LineOpen then CreateColor(8,153,129) else if LineClose < LineOpen then CreateColor(239, 83, 80) else Color.GRAY); Line.SetLineWeight(2); ############## def _Close = (o + h + l + c) / 4; def _Open = if IsNaN(_Open[1]) then (o + c) / 2 else (_Open[1] + _Close[1]) / 2; def _High = Max(Max(h, _Open), _Close); def _Low = Min(Min(l, _Open), _Close); def haClose = if HeikinAshi then _Close else c; def haOpen = if HeikinAshi then _Open else o; def haHigh = if HeikinAshi then _High else h; def haLow = if HeikinAshi then _Low else l; def Color = if haClose >= haOpen then 1 else -1; # Plot UP candle def UpO; def UpH; def UpL; def UpC; if Color > 0 then { UpO = haOpen ; UpH = haHigh ; UpL = haLow ; UpC = haClose; } else { UpO = na; UpH = na; UpL = na; UpC = na; } # Plot DOWN candle def DnO; def DnH; def DnL; def DnC; if Color < 0 then { DnO = haOpen ; DnH = haHigh ; DnL = haLow ; DnC = haClose; } else { DnO = na; DnH = na; DnL = na; DnC = na; } # Plot the new Chart AddChart(high = UpH , low = UpL , open = UpC, close = UpO, type = ChartType.CANDLE, growcolor = CreateColor(8,153,129)); AddChart(high = DnH , low = DnL , open = DnO, close = DnC, type = ChartType.CANDLE, growcolor = CreateColor(239, 83, 80)); ## Plot MA Lines plot AvgLine = ma(ctl, maLength, maType); AvgLine.SetPaintingStrategy(PaintingStrategy.DASHES); AvgLine.SetHiding(!ShowMovAvg); plot HaAvgLine = ma(haClose, maLength, maType); HaAvgLine.SetPaintingStrategy(PaintingStrategy.DASHES); HaAvgLine.SetHiding(!ShowMovAvg); ### Band def offs = (1.6185 * stdev(if linestyle == linestyle.Candle then haClose else ctl, maLength)); def upBand = (if linestyle == linestyle.Candle then HaAvgLine else AvgLine) + offs; def dnBand = (if linestyle == linestyle.Candle then HaAvgLine else AvgLine) - offs; def BandColor = if (if linestyle == linestyle.Candle then haClose else ctl) > upBand then 1 else if (if linestyle == linestyle.Candle then haClose else ctl) < dnBand then -1 else 0; plot Oband = upBand; Oband.AssignValueColor(if BandColor > 0 then Color.GREEN else if BandColor < 0 then Color.RED else CreateColor(100, 181, 246)); Oband.SetHiding(!ShowBand); plot Sband = dnBand; sband.AssignValueColor(if BandColor > 0 then Color.GREEN else if BandColor < 0 then Color.RED else CreateColor(100, 181, 246)); Sband.SetHiding(!ShowBand); AvgLine.AssignValueColor(if BandColor > 0 then Color.GREEN else if BandColor < 0 then Color.RED else Color.WHITE); HaAvgLine.AssignValueColor(if BandColor > 0 then Color.GREEN else if BandColor < 0 then Color.RED else Color.WHITE); ### Background addCloud(if BackgroundColor then if(if linestyle == linestyle.Candle then haClose else ctl) > Oband then Double.POSITIVE_INFINITY else if (if linestyle == linestyle.Candle then haClose else ctl) < Sband then Double.NEGATIVE_INFINITY else na else na, if(if linestyle == linestyle.Candle then haClose else ctl) > Oband then Double.NEGATIVE_INFINITY else if (if linestyle == linestyle.Candle then haClose else ctl) < Sband then Double.POSITIVE_INFINITY else na, Color.DARK_GREEN, Color.DARK_RED); ### Bar Color def Exup = if linestyle == linestyle.Candle then (color > 0 and BandColor > 0) else (LineClose >= LineOpen and BandColor > 0); def up = if linestyle == linestyle.Candle then (color > 0 and BandColor <= 0) else (LineClose >= LineOpen and BandColor <= 0) ; def Exdn = if linestyle == linestyle.Candle then (color < 0 and BandColor < 0) else (LineClose < LineOpen and BandColor < 0); def dn = if linestyle == linestyle.Candle then (color < 0 and BandColor >= 0) else (LineClose < LineOpen and BandColor >= 0); AssignPriceColor(if BarColor then if Exup then Color.GREEN else if up then CreateColor(0,80,80) else if dn then CreateColor(117,0,14) else if Exdn then Color.RED else Color.GRAY else Color.CURRENT); ### END
What doe time frame do and or change?
Changing that option didn't seem to do anything. I'll just leave it.
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