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There is after all no such thing as buying volume or selling volume. For every buyer there is a seller. Trades can't take place otherwise.
I like and use cumulative delta but I don't use it in an objective manner. It is indeed useful to use the information about trades at bid/ask to help in the decision making process but we have to take into account that some very aggressive moves can take place with limit orders which makes the objective analysis of delta studies problematic.
A buyer for every seller implies balanced trade and if you ever spent a day in the pits of the past you would have learned how very seldom trade is in complete balance = "no such thing as buying volume or selling volume."
If there is no such thing as buying volume or selling volume then trade must always be in balance and there can also be no such things sentiment or momentum. I say there is and that the indicators above do a pretty good job of calculating both.
Sure thing. The high, so far, today in ES was made at 0700-0701 PST Today.
Here is a shot of the spike in commercial trade velocity that established that high click to expand. Naturally some days are better than others and certainly some charts have been "cherry picked" but that doesn't detract from the inherent efficacy of the method or the indicator as shown below for TODAY.