OPEN-SOURCE SCRIPT
Monster Cumulative Delta Open
After a few requests, the MonsterDelta is is now available with open source.
As mentioned before, it uses an approximation of Up and Down Volume (because they are not kept by Tradingview/not accessible by Pinescript).
The approximation is:
The "up path" on the "up" candle can be approximated by (High-Low).
The "down path" on the "up" candle can be approximated by (High-Close)+(Open-Low).
(and similar for the down candle, like in the 1st post.)
Total path=up path + down path.
Up volume = Tick volume * up path/total path
Down volume = Tick volume * down path/total path
Cheers,
kprsa
As mentioned before, it uses an approximation of Up and Down Volume (because they are not kept by Tradingview/not accessible by Pinescript).
The approximation is:
The "up path" on the "up" candle can be approximated by (High-Low).
The "down path" on the "up" candle can be approximated by (High-Close)+(Open-Low).
(and similar for the down candle, like in the 1st post.)
Total path=up path + down path.
Up volume = Tick volume * up path/total path
Down volume = Tick volume * down path/total path
Cheers,
kprsa
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.