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I'm not an experience trader, but from spending countless hours of scouring the web and reading books, I think I have a solid understanding of the market auction process. It's always a learning process, indeed.
I'm still experimenting with the indicator, myself. What I'm doing now is opening three different charts, side by side, with the indicator on a 60-minute, a 15-minute, and a 5-minute time frame. It's a 'real-time' indicator, so be sure not to alter the data series or add other indicators while this one is running or else it'll reset! I personally, wouldn't use it as a "stand-alone" method for entries and exits, but rather in conjunction with other indicators and/or methods. I hope to have more of my ideas coded soon.
One more thing, make sure to go under the indicator options window and click the 'calculate bar on close' tab to 'false' so the bars will line up with one another, and not one behind.
Good luck in your trading!
Interesting code - thanks for posting. You can add CalculateOnBarClose = false; in Initialize then the indicator will always run 'live'.
If you wanted to load historical Bid/Ask data you could use the Gom framework by basing your code in a copy of GOMDeltaVolume or GomCD and running one instance with WriteData = true.
Excellent indicator. Most interested in finding someone to build this into the GOM framework in order to save the data. I look at delta volume inventory over a 1 to 4 week period. Unable to leave my charts open and computer running 24/7. Therefore, might I have your permission to request that someone from this site add the indicator to the GOM framework?
Thank you for this gift. It is now the only reason I have to not take out a Market Delta or RT subscription.
By the way, Market Delta's delta divergence indicator looks for divergent buy opportunities below the VWAP -1 dev band or a sell from above the +1 dev band. Probably works great on rotation days. ryanCurrentDay VWAP works nicely for me. Might even be possible in the future to code it into an efficient VWAP with at least 2 sets of dev bands.