Cumulative Volume Delta Indicator For ThinkOrSwim

[Igor]

Cumulative Delta of Bull & Bear Balance Indicator
Is it possible to convert this study to ThinkScript?
https://www.tradingview.com/script/KbjIReFm-Cumulative-Volume-Delta/

Published in October 2003 in S&C magazine, Vadim Gimelfarb's article, "Bull And Bear Balance Indicator," describes a method of deducing market sentiment from close-to-close price movement. His system uses the various possible relationships between the previous close and current open, high, low, and close. Based on the pattern that each day exhibits, the indicator uses a pattern-specific calculation to determine bull and bear strength for the day.

 

[SleepyZ]

Cumulative Delta of Bull & Bear Balance Indicator
The picture below at least seems to match cvd line in a chart I can view in TradingView of AAPL 1yD

#//@version=4
#// A Cumulative Volume Delta approach based on the Bull and Bear Balance Indicator by Vadim Gimelfarb published in the October 2003 issue of the S&C Magazine.
#// Adjust the length of the moving average according to your needs (Symbol, Timeframe, etc.)

#study(title="Cumulative Volume Delta", shorttitle="CVD", precision=0)

declare lower;
#// Inputs
input periodMa = 100;#input(title="MA Length", minval=1, defval=100)
input plotMa   = yes;#input(title="Plot MA?", defval=false)
#// Calculations (Bull & Bear Balance Indicator by Vadim Gimelfarb)

def bullPower = if(close < open, if(close[1] < open, max(high - close[1], close - low), max(high - open, close - low)), if(close > open, if(close[1] > open, high - low, max(open - close[1], high - low)), if(high - close > close - low, if(close[1] < open, max(high - close[1], close - low), high - open), if(high - close < close - low, if(close[1] > open, high - low, max(open - close[1], high - low)), if(close[1] > open, max(high - open, close - low), if(close[1] < open, max(open - close[1], high - low), high-low))))));

def bearPower = if(close < open, if(close[1] > open, max(close[1] - open, high - low), high - low), if(close > open, if(close[1] > open, max(close[1] - low, high - close), max(open - low, high - close)), if(high - close > close - low, if(close[1] > open, max(close[1] - open, high - low), high - low), if(high - close < close - low, if(close[1] > open, max(close[1] - low, high - close), open - low), if(close[1] > open, max(close[1] - open, high - low), if(close[1] < open, max(open - low, high - close), high - low))))));

#// Calculations (Bull & Bear Pressure Volume)

def bullVolume = (bullPower / (bullPower + bearPower)) * volume;
def bearVolume = (bearPower / (bullPower + bearPower)) * volume;

#// Calculations Delta
def delta = if isnan(close) then delta[1] else bullVolume - bearVolume;
def cvd   = if barnumber()==1 then delta else if barnumber()>1 then cvd[1] + delta else cvd[1];
def cvdMa = simpleMovingAvg(cvd, periodMa);

#// Plotting
#customColor = cvd > cvdMa ? color.new(color.teal, 50) : color.new(color.red, 50)
plot Ref1 = cvd;#plot(cvd, style=plot.style_line, linewidth=1, color=color.black, title="CVD")
plot Ref2 = if plotMa then cvdMa else double.nan;#, style=plot.style_line, linewidth=1, color=color.new(color.black, 0), title="CVD MA")
#fill(plotRef1, plotRef2, color=customColor)
addcloud(ref1,ref2,color.green,color.red);

@Igor

 

[zeek]

@zeek
Make sure you have:

Works fine for me.
View attachment 1082

Yes, thanks now i can see it too.
I did notice that when i have selected timeframe 10min or lower, there is a gap with missing data as can be seen in the pic below but anything higher than 10min will work fine. Pics below is with 10min and 15min timeframe selected on chart.

Edit: I can also see missing data on 15min charts so the timeframe selected doesn´t seem to be the problem..

https://imgur.com/a/Zk1Xoaq

https://imgur.com/a/d0NiLBv

 

[zeek]

I think it would be super useful on all stocks to spot potential bigger reversals and to see who is "in control" on any timeframe selected. Right now, it´s showing on some timeframes but not on others and i really hope there is a way to make the indicator work this way so i can see the clouds no matter the stock or chart timeframe selected.

This is by far the best indicator i´ve seen shared here in a long time. Thanks @SleepyZ for sharing it!

 

[dinodotcom]

Wondering if this could be made into a scanner?

 

[MerryDay]

Wondering if this could be made into a scanner?

I have played with this every which way and loose but it is not possible to get it to work in the Scan Hacker

The cumulative volume delta equation recurs back on itself. The Scan Hacker cannot resolve that on the current bar.
The 'normal' workaround is to scan for 2 or more bars ago but in this case, no dice.

 

[Igor]

The script isn’t working fro me, it shows empty space. any thoughts on that. thanks!!!

 

[SleepyZ]

The script isn’t working fro me, it shows empty space. any thoughts on that. thanks!!!

I did not see any indication on how the author planned to use this. It seems that it works mostly on Daily charts, and on /ES for most intraday timeframes, mainly perhaps because of its trading pattern. The example you provided from TV showed it on a Daily Bitcoin chart. So try Daily charts and see if it plots for you. Perhaps you could let us know how it is to be used. Thanks.

 

[DudeDastic]

Just found this indicator by accident. Man, this is great! Just need it to work on all timeframes.

 

[ssmike123]

Does the above need to be with TICK charts only? Or works with Minute Charts also?

 

[MerryDay]

Just found this indicator by accident. Man, this is great! Just need it to work on all timeframes.

Does the above need to be with TICK charts only? Or works with Minute Charts also?

It works on all time frames. But does not work for all stocks.
Here it worked on the higher agg but not the lower agg chart

Here it worked on the lower agg but not the higher agg.

I don't trade the 1min chart but I have this indicator loaded on all other time frames and while sometimes there are blanks as shown above. The majority of the time, it works great. In those times, when it didn't load; many times, it saved me from entering trades that would have been unprofitable.

 

[ssmike123]

It works on all time frames. But does not work for all stocks.
Here it worked on the higher agg but not the lower agg chart

Here it worked on the lower agg but not the higher agg.

I don't trade the 1min chart but I have this indicator loaded on all other time frames and while sometimes there are blanks as shown above. The majority of the time, it works great. In those times, when it didn't load; many times, it saved me from entering trades that would have been unprofitable.

MerryDay, Do you know if this works on Futures?, /ES, /CL....Etc?

 

[MerryDay]

MerryDay, Do you know if this works on Futures?, /ES, /CL....Etc?

https://usethinkscript.com/threads/...ce-indicator-for-thinkorswim.8351/#post-78377

 

[MichaelR]

I tried installing this but I’m getting a blank screen most of the time, I think a link to a better version is broken. Can somebody please send the latest version of the Cumulative Delta study for ThinkorSwim?

 

[MerryDay]

I tried installing this but I’m getting a blank screen most of the time, I think a link to a better version is broken. Can somebody please send the latest version of the Cumulative Delta study for ThinkorSwim?

The indicator is problematic, it works sporadically, for some commodities, on some timeframes, some of the time.
https://usethinkscript.com/threads/...ta-indicator-for-thinkorswim.8351/#post-86034

Here is one that works:
https://usethinkscript.com/threads/...by-sam4cok-for-thinkorswim.12408/#post-108386
Here is one that plots similar to the one in this post:
https://usethinkscript.com/threads/...labels-for-thinkorswim.8466/page-3#post-98390