This indicator infact helps quite a lot in filtering wrong entries with other trading systems. This is an awesome work.
UnknownUnicorn20271887
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I love this script, I have been using it for months. It has been very helpful in my trading. That being said, what is the lowest time frame you would suggest this being used on, vice versa what about the highest? I'm an ES day trader. Thank you once again!
Ankit_1618
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@badmf, Lowest is 1min, with settings of cumulation_length = 21 Highest : Week, with settings of cumulation_length = 5
coolkal01
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@Ankit_1618, The TV CVD uses 1min data for calculating the CVD irrespective of timeframe chosen (but cumulates from start of the day/session, making it more laggy) Could you do it for yours?
Ankit_1618
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@coolkal01, The fundamental concept, is different in this indicator as compared to that of TV's This indicator is a guesstimate of Volume delta, and is bound to be bit laggy as compared to actual delta in order to refine signals a bit, since in-case of actual delta's noise rule out most of the edge.
This method is mostly used in HFT for tick based data price volume info, recommend you to use this as a divergence tool + in accordance with Higher time frames for best results
coolkal01
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@Ankit_1618, Actually i find your indicator to be a little faster as the cumulation can be done over shorter periods Only query is if the same algo can be applied using 1min data (in which case the chosen higher tf for the charts kind of acts as a snapshot)
Ankit_1618
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@coolkal01, as i said the approach is different for finding out the deltas in here, suppose if you want to cumulate smaller timeframes say 1m over a 5 min chart if you have a cumulation length set to 14 on 5 mins that would mean a cumulation of (14*5 = 70, 1 minute candles) anyway if you do so, answer will be a bit different but momentum captured will be nearly, same as doing a 14 length cumulation on 5 mins
you can attempt that if know how to code that, thats easy make a function calling lower timeframes in cumulation, and cumulate of the current timeframe, no doubt some accuracy will be restored doing this process!
if i may find some time i will surely share that with u guys! hope this helps