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I have idea of delta volume that I could display horizontally...similarly like volume profile drawing tool available in Investor Rt or Market delta, but it would accumulate delta volume (difference in bid/ask volume) instead of all volume traded in particular price level. does anybody has experience with this? thanks Mike
Can you help answer these questions from other members on NexusFi?
I think you can pretty much do this with the gomi volume ladder. just use a chart with a big time frame.
I would look for price areas where their are stuck players as reversal zones: if price is above an zone with a lot of negative delta, then next time price test the area someone probably wants to get out.
MarketDelta has an indicator called the "Footprint Price Statistics" that provides an array of column options display volume or delta at price information. One option is the Delta Profile which draws a profile based on delta, the positive delta prices are highlighted in green and negative delta prices highlighted in red. The magnitude of each price is based on absolute value of delta at that price. Profile can be based on current day, prev day, last x bars, last x days, etc. There is also a "Footprint Profile" which shows a volume at price histogram but colored based on delta.
