The PipTick Volume Delta indicator shows the difference between Bid and Ask volumes. In fact, it shows which side of the market participants (buyers or sellers) was more active in a certain period of time. Bid and Ask volume calculations are based on our PipTick Bid-Ask Volume indicator.
As you know, the Forex market is decentralized, and therefore there is no reliable information about real volumes. There is also no data on the current and historical value of the Bid volume (the volume of sellers) and the Ask volume (the volume of buyers). However, you can use the tick volume of Bid and Ask prices to determine the activity of buyers and sellers. Thus, our special algorithm allows you to get a similar volume as in the futures market. With this function, you can analyze the flow of buy and sell orders.
How to use the PipTick Volume Delta indicator?
First, it should be noted that the use of the indicator on the older indicators leads to the opposite results. The number of buyers and sellers is balanced on the higher timeframes, so the indicator has no informative value. Therefore, it is recommended to use it on charts with a timeframe from M1 to M5.
The context of the order flow in the market should be analyzed for the last 10-30 minutes. It is always necessary to evaluate the activity of both parties, buyers and sellers.
In fact, there are several order flow context scenarios available:
- Do not place your frames in the time of the indicator.
- The indicator shows the difference between the Bid and Ask volumes
- A simple comparison of the activity of buyers and sellers
- Pop-up alerts for indicator values
- Works on any timeframe
- The indicator does not redraw
- Real-time data required
- Saving indicator data to a file
- Excellent results in conjunction with the levels of support and resistance
- The perfect tool for scalping
- Very fast calculations
- Designed for MT4 and MT5
- Volume_Delta_Mode – Volume delta mode, options: Negative Down/Positive Up, Negative Up or Positive Up
- Record_Ticks_History-allow saving tick history data to a file
- Histogram_Thickness – the width of the resulting histogram
- Color_Positive_Delta – color of the Bid volume with a positive delta
- Color_Negative_Delta – color of the Bid volume with a negative delta
- Alert – enable / disable alerts when the volume delta exceeds a certain value
- Alert_Threshold – selecting a threshold value
- Alert_Sound-select an audio file for alerts
- Volume_Delta – the Delta value of the volume
For more information, visit the PipTick Volume Delta page.