I was searching for some time to find an indicator to simply show Bid and Ask Volume.
After searching here [and elsewhere] I found this revised version of the GomDelta indicator [here on futures.io].
This indicator relies on having access to Gomi binary data and will only work ifyou have already installed the Gomi packages [and have them working].
I like to use this on a 1 minute and a 5 minute candle chart, to see who is winning the Buy/Sell [Bid/Ask] battle at that moment.
Having said that it can also be used on Tick, Range, Reversal, Volume or Renko charts if you prefer to use it on one of those.
I'm not sure who made these modifications?
All I've done here is hard code some of my Color and Bar size preferences to suit my Black format charts.
Plots a non cumulative histogram of Gom delta volume.
The earlier version of this indicator has been downloaded over 1800 times, but it is outdated and incorrect. I URGE YOU to use this one instead!
Provided as a cs file, because my versions of the GomCD and GomRecorder are non-standard, so I don't want to put them into an installation package that might cause you to have problems.
I uploaded a revised version at around 10PM PT on Sunday January 8. The indicator was missing a lot of volume between the bid and ask, requiring the use of the "direction" from Gomi's hybrid delta calculation mode as the tiebreaker. Anyone who downloaded the earlier version should replace it with this one.
Thank you to Silvester17 for pointing out the problem. And, as usual, to Gomi.
This indicator which requires GomPackage plots volume profiles.
User can select Bar or Daily profiles
User can plot profile of all volume since a certain date
Profiles can be colored to indicate time of the trades
Profiles can plot delta of the bar
Profiles can be smoothed to filter noise
Profiles can be plotted left to right or right to left.
Profiles can include/exclude AH volume
POC, VAH, VAL, VWAP can be plotted
High and Low volume Nodes can be plotted
GomUA was developed to highlight "Unfinished Auctions" on the GomVolumeLadder
I have been studying this "phenomenon" of price action for about 5 years and managed to put this together with the help of a friend late last fall (2015)
This indicator relies on having access to Gomi binary data and will only work if you have already installed the Gomi packages [and have them working].
Unfortunately I have to offer it here as a .cs file [I am unable to offer it to you in a .zip file]
Once you copy the cs file into your [\My Documents\NinjaTrader 7\bin\Custom\Indicator] folder compile any indicator and you'll see GomUA in with your existing Gom indicators.
I like to use this on a Volume Ladder, It can be used on any timeframe you choose, it can also be used on a candle chart or bar chart if you do not use a Volume Ladder.
I have tested this on Time, Tick, Range, Reversal and Volume charts and it works fine when I confirm it on a corresponding Volume Ladder.
I have not used this on [Ultimate Renko, Better Renko or Renko [Ninja default version]] so I can not comment as to it's validity on these "exotic" bar types.
Simply put it will show where a bar has moved to an extreme and has had orders complete at both the Bid and the Ask before price moved away from that price point.
There have been numerous discussions about this over time here on futures.io and lately it is starting to become popular with some of the "platform vendors" so my apologies for not posting this earlier.
Attached an example to use it on strategy analyzer for backtesting. Left mouse click will go to previous execution and right mouse click will go to next execution
November 26th, 2016
Downloaded: 1 times
[Status unknown]
1777
zohar
NT 7.0.1000.10
**Do not share, distribute, or modify the Gradient Color Bars Indicator or the idea for use outside the BMT Elite community or for commercial purposes**
Gradient Color Bars:
The concept of coloring bars is nothing new and everyone does it for certain filters. However, the idea for using gradient color bars to spot price divergence may not be new, but has gone un-noticed by many.
The fact that no one (I know, there will be some claims to the contrary) has been able to write a decent divergence indicator is because computers can only follow rules and limits. Human eye on the other hand can spot a bird in the sky whether it is 100 yards away or 99.99999 or 100.00001, regardless of the number of decimals (yes, provided the person is not blind).
So, it makes sense if one can spot divergence by subtle changes in the gradient coloring of the bars where a computer might miss because it was not instructed to “see.”
What I think is original about this indicator (for future claims) is applying the concept to a variety of conditions and filters to spot divergences (among other price behaviors) where the usual indicators and computers will miss most of the time.
This simple indicator has much potential. The current version is based on one filter. The goal is to bundle a number of filters and let the coloring be done based on the most relevant and promising filter. So, future versions will include other methods and filters for gradient color bars.
As with any indicator (Stoch, RSI, etc.), this filter cannot be used on its own alone. I am considering to use one version of this indicator for confirming price action and formations at different time frames as a trading tool.
This version includes candle outlines to better determine if a bar is an UP bar or a Down bar. The indicator is best viewed on a chart with Silver background.
Please refer to a thread with the same name for Color Gradient Divergence rules here:
September 16th, 2015 05:03 AM vchase Great idea! Thank you for sharing this. Might also be an idea to use sound as well?
July 17th, 2015 12:12 AM Portland
December 23rd, 2013 08:22 PM trvlntrdr a brilliant idea!
October 1st, 2013 02:16 PM ghman101 Liking it with my CL trading! Thanks SO much and for helping me find the correct version and outline feature. Will :
September 29th, 2016 08:14 AM sudhirc Thank you soo much, i don't even know that this indicator exists.
August 11th, 2016 07:27 AM makusan I applaud your efforts...unfortunately, due to the current Algo's, and loss of the pits, and market makers, there is a i
ncrease of UA. The Algo's are not required, or expected take trades. This renders UA's of little value.
Respectfully,
Makusan
July 3rd, 2016 08:05 PM DanTrader Thanks, Fantastic job!
April 15th, 2016 07:21 AM ropantu Hi All,
How can I install this indicator into NT7? Can you help me please?