[VC] Box Chart Histogram V1.0

V.C Box Chart Histogram draws the cumulative delta that correlates to another indicator named ''V.C Box Chart Index''.
(In other words, ''V.C Box Chart Histogram'' & ''V.C Box Chart Index'' are correlated.)

V.C Box Chart Histogram draws the cumulative delta as histogram based on ''V.C Box Chart Index''. Combining these two indicators empowers you to see the cumulative demand & supply / cumulative buying & selling quantity of each box.
You can also switch from cumulative delta mode to cumulative delta % from input settings. See the difference between simple delta & delta % mode from these examples.

Simple Delta Mode (Cumulative Demand & Supply)

In the above example, green & red boxes on the histogram show the cumulative delta of each box from the main chart. In simple words, these boxes show the cumulative net demand & supply of the corresponding box from the main chart. In this example, Big green boxes indicate demand is increasing, whereas small red boxes indicate that supply is decreasing.

Delta % Mode (Cumulative Volume-Weighted Demand & Supply)

Similar to the simple delta mode, in the above example, blue & red boxes on the histogram show the cumulative delta % of each box from the main chart. In simple words, these boxes show the cumulative & volume-weighted demand & supply of the corresponding box from the main chart.
In this example, Big blue boxes indicate that demand is increasing, whereas small red boxes indicate that supply is decreasing.

V.C Box Chart Histogram Properties & Settings

Inputs

Choose Your Source:
Allow you to switch from simple delta to delta %
Choose color of the box on simple delta:
Allow you to change the color of the box
Choose color of the box on delta %:
Allow you to change the color of the box

Style

Positive & Negative Simple Delta:
Allow you to see the simple delta in the column format.
Positive & Negative Delta %:
Allow you to see the delta % in the column format.
Boxes:
Allow you to show/hide the boxes

NOTE: You can also see both delta formats in dual view mode. (in column & box at the same time to have a more precise & detailed look)

See Below Example

Disclaimer Note:
V.C Box Chart Histogram is not a Buy/Sell signal based indicator or a holy grail trading system. It is purely a leading indicator that can help you to analyse demand & supply and buying & selling forces of the market in a smart & effortless way. Before applying this indicator to your analysis, you should have some basic knowledge about volume, delta, & supply & demand. Some basic understanding of Sir Richerd Wyckoff's Theory can also be helpful.

Phát hành các Ghi chú:

Some minor adjustments in the style menu.