Intraday Volume Profile [BigBeluga]

29 בדצמ׳ 2023

The Intraday Volume Profile aims to show delta volume on lower timeframes to spot trapped shorts at the bottom or trapped longs at the top, with buyers pushing the price up at the bottom and sellers at the top acting as resistance.

🔶 FEATURES

The indicator includes the following features:

• LTF Delta precision (timeframe)
  
• Sensibility color - adjust gradient color sensitivity
  
• Source - source of the candle to use as the main delta calculation
  
• Color mode - display delta coloring in different ways
  

🔶 DELTA EXAMPLE



In the image above, we can see how delta is created.

If delta is positive, we know that buyers have control over sellers, while if delta is negative, we know sellers have control over buyers.

Using this data, we can spot interesting trades and identify trapped individuals within the candle.




🔶 HOW TO USE



In the image above, we can see how shorts are trapped at the bottom of the wick (red + at the bottom), leading to a pump also called a "short squeeze."



Same example as before, but with trapped longs (blue + at the top).

This can also work as basic support and resistance, for example, trapped shorts at the bottom with positive delta at the bottom acting as strong support for price.





Users can have the option to also display delta data within the corresponding levels, showing Buyers vs Sellers for more precise trading ideas.

NOTE:

• User can only display the most recent data for the last 8 buyers and sellers.
  
• It is recommended to use a hollow candle while using this script.
  

5 בינו׳ 2024

הערות שחרור

• Updated theme
  
• Fixed plot delta calculation
  

26 בינו׳ 2024

הערות שחרור

• Added VWMA weighted by delta volume