Indicator Name: ClusterDelta_#Delta
The #Delta indicator shows the difference between market buyers and sellers. The indicator shows the difference between the volume executed at the Ask price or higher (bearish trades) and the volume executed at the Bid price or lower (bearish trades).
Delta is equal to the formula: Ask minus Bid. This indicator shows the delta of each bar on the current timeframe.
The data looks like a histogram in a separate window.
The general idea of this indicator is that it shows the trend of the market. Analyze it together with ClusterDelta_Volume on volume peaks. At this point, also look for delta spikes - this usually means that the trend is over (if it happens at the end of the trend), but also, if it happens at the beginning of a new move, it can be a powerful push of the price. Look at the delta, how the market reacts to it on some bars.
Description of indicator inputs:
- HELP_URL (default value "https://clusterdelta.com/delta") - this is the URL where you can get the full description of the indicator.
- ChartInstrument - select a futures from the dropdown list as the source for data. Value AUTO causes automatic detection of the instrument by the MT ticker.
- MetaTrader_GMT - the GMT value of your Metatrader. In 95% of cases leave AUTO.
- Days_in_History (default value is "0") - this parameter defines the number of days to download history. For a "0" value , the server uses the optimized history length settings. Using too high values can cause to the terminal freezing on lower timeframes. It is recommended to use short periods and load more data from the chart using the button "Load More History"
- Custom_Start_time, Custom_End_time (default value is "2021.01.01 00:00") - if Custom_Start_Time and Custom_End_Time differ from "2021.01.01 00:00", the server loads history for the period specified by these parameters
- ReverseChart (default value is "false") - for reverse currency pairs with names that differ from "USD/JPY", "USD/CAD", "USD/CHF", the value must be "true" to flip indicator data according to the direction of the price chart
- DO_NOT_SET_ReverseChart (for"...for USD/JPY, USD/CAD, USD/CHF --") - the comment in the inputs about the information describe above
- Current_Delta_Positive (default value is LimeGreen) - the color of the text of current positive delta on the last (current) bar.
- Current_Delta_Negative (default value is OrangeRed) - the color of the text of current negative delta on the last (current) bar.
- Font_Size (default values is "8") - font size of current values of Ask and Bid histograms
- GUI (default values is "true") - flag indicating the need to draw a graphical user interface (control panel)
- GUI_Hint - using the keyboard : press "Z" to show/hide a graphical control panel
You can change the colors of the histograms on the Colors tab in the indicator properties.