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it's basically the default delta divergence formula which is included. I just added a few conditions. but they need to be adjusted, especially with today's market environment.
but even with those additions, you can't take every signal blindly. many other things need to be taken in consideration. I never had a problem to share, but on more than one occasion I got blamed for losses. so I prefer not to share the settings anymore.
- if market volatility rises, I increase the size of the range bars. normally I use a 3 range chart, but lately switched to a 10 (sometimes 15). now all the settings change as well.
- at the beginning and the end of the session, I'm very cautious because of some unpredictable market moves.
- of course location is also important. one tool I'm using is the vwap. in non-trending days (range), I try to avoid trades between the 1st upper and 1st lower sd bands. concentrating more on opportunities outside the 2nd sd bands (mean reversion). in trending days, I consider 1st sd bands and vwap as good locations for pullbacks.
- I like to take delta divergence trades touching an earlier volume imbalance:
- also interesting, buying/selling delta divergence with opposite volume imbalance. makes it an even stronger divergence:
those are just a few things I pay attention to. of course other factors should be taken in consideration as well!!
i am not even sure what your asking . however i will give you my take. the areas in the print where very little contracts were traded are called areas of minus development . they will offer an area of S an R on the first retest. some software like market delta will highlight these areas . there caused by an order flow sweep . there were contracts pulled so the market orders had not market depth to fill them .
This is interesting, going through my charts now... It works more often than not especially after a good runup/rundown.
Do you filter Delta [Painted Diamond] by a specific number or do you go with just less than zero or more than zero?
