Cumulative Symbol

21 сент. 2023 г.

This indicator attempts to show price source delta, mostly for intraday trading but may have applications on higher timeframes.

Choose a different symbol from the chart, or use formulas, pick price source (close, open, lows, etc) and a cumulation calculation type.

There are three to choose from and the tooltip provides the differences, they are as follows:
1) Basic - quite simply just takes the symbol source value and keeps a rolling summation
2) Advance or Decline - handles negative values as reductions to the cumulative calculation, useful to find delta pivot areas
3) Ratio - useful for ... ratio symbols ... such as market internals or your own custom ratios where 0 is balance/mid.

The trend line can be adjusted via length, histogram and trend colors indicate trend and directional shifts at a glance.

Since many ratio symbols, and some indexes, (looking at you NYA), don't offer volume I opted to drop it from this indicator.

I think every other indicator that tracks delta on TradingView makes use of volume and I couldn't find a single one that didn't and as such there is a gap in the vast library of indicators.

Enjoy!