RED-E Simple Volume Delta

RED-E Simple Volume Delta

A straightforward volume delta indicator designed to help traders identify buying and selling pressure through volume analysis.

Key Features:
- Simple volume delta calculation based on candle direction
- Cumulative delta tracking for trend assessment
- Statistical signal generation using moving averages and standard deviation
- Clean overlay display with customizable dashboard
- Multiple alert conditions for different signal strengths

How It Works:
The indicator measures volume delta by comparing price action:
- Bullish candles (close > open) = positive volume delta (buying pressure)
- Bearish candles (close < open) = negative volume delta (selling pressure)

Signals are generated when volume delta exceeds predefined thresholds based on statistical analysis of recent volume behavior.

Dashboard Display:
- Current volume delta value
- Cumulative delta total
- Trend direction (Bullish/Bearish)
- Active signal status

Customization Options:
- Lookback Period: Adjusts sensitivity to recent volume changes (default: 14)
- Signal Sensitivity: Controls threshold for signal triggers (range: 0.5 to 5.0)
- Dashboard Size: Small, Normal, or Huge
- Dashboard Position: 9 placement options

Educational Purpose:
This tool is designed for educational and analytical purposes. It should be used as part of a comprehensive trading strategy alongside other technical and fundamental analysis methods.

Disclaimer: Trading involves substantial risk. This indicator does not guarantee profitable trades. Always perform your own analysis and risk management.