[Sellers vs Buyers with Heikin Ashii and Volume Delta]

[Soultrader 12]

Interesting video on selling vs buying at key levels. In order to understand this you will need to be familiar with the Heikin Ashii and Volume Delta indicator available here in the Indicator Forum.

 

Basically I am trying to see when there is a color divergence between the TTM and the Volume Delta. 99% of the color divergence is noise... what is important is to focus at a key price level. In this case this was the daily pivot or PP at the opening. We see more sellers at this level.

 

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[keymoo 10]

Soul is the ShowMe available? I'm just getting started in EasyLanguage so don't feel confident enough code my own just yet - it will come though. Great video, I went short on the ER2 at the same time, as I find that the first approach of a pivot level has a high chance of bouncing the pivot line - this indicator would be a nice confirmation of that strategy.

[Soultrader 12]

Keymoo... what exactly do you mean? If you right click on your chart and go to "Format Analysis Technique", you should get an option to insert an indicator, paintbar, showme, activity bar, and probabilitymap. This tool is in the "Showme" under "Delta Ttm Div". I hope I answered your question correctly or were you referring to something else?

[drlicks 10]

Hey Soul,

 

Great video. How close do you like to see price approach a pivot and form a divergence dot in order to consider it a valid rejection? I am trading the ES so tick increment values would be great. Thanks!!

[That One Guy 10]

I used this indicator, but it plots several divergences, depending on the time frame. I noticed, sometimes price will near a key level and then show buying divergence, but on very low volume. Price will then rise a small amount and then sell off further. If you use this indicator make sure you watch the volume or the tape. Just my 2 cents.

[drlicks 10]

yeah i have seen the same thing myself. i almost always read tape anyway. good insight.