Intrabar Volume Delta, Balance Measures, and Divergence Signals

Summary

This indicator estimates buying and selling volume within each chart bar by analyzing lower-timeframe bars. It can display the resulting delta as columns or derive a balance line, with selectable calculations including on-bar, average, momentum, relative, and percentage balances. Configurable colors, gradients, averages, zero-line display, and alerts help users examine how the measures change over time.

The indicator also provides divergence and other marker conditions based on balance shifts, consecutive directional activity, and changes in price direction. Users can choose the lower timeframe and the approximate number of intrabars to analyze. The document explains a key coverage tradeoff: analyzing more intrabars can improve calculation precision but reduces the number of chart bars covered because the tool has a finite intrabar limit. It warns that very low intrabar counts reduce reliability. These are visualization and signal-generation tools; the document supplies no evidence that any measure predicts returns, and volume delta inferred from lower-timeframe data is not a direct record of aggressor-side trades.

Key ideas

• The indicator estimates volume delta by aggregating lower-timeframe activity within each chart bar.
• It can show delta columns or several forms of volume balance as a line.
• Divergence markers and alerts flag selected shifts in balance and price behavior.
• Choosing more intrabars can improve precision while reducing historical chart coverage.
• The document describes indicator mechanics but gives no evidence that its signals predict profitable trades.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.