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Indicators for МТ4-MT5 / Delta Indicators

 

 

Indicator of Delta

Delta Indicator show difference between size of volume executed on Ask (Bears trades) price (or above) and size of volume executed on Bid (Bulls trades) price (or below). Delta equals formula: Ask minus Bid. This indicator show delta of each bar on the current timeframe.

Data looks like a histogramm in a separate window.

Common idea of this indicator so that it shows market tendention. Analyze it together with ClusterDelta_Volume on the volume spikes. At this place look also to delta spikes - commonly it means that trend is over (if it happens in the end of trend), but also if it happens in the begin of new move it can be power impulse to push the price forward. Look to the delta how market reacts on it during some bars.

Standart Delta indicator use system library, it can download data only in foregroung mode so this does effect to terminal like freezing during loading data.

The length of history limited to 14 days on lower timeframes and 60 days higher than M15. This realisation of indicators was first and it was developed some years ago but indicatos are still in Standart subscription. Now we try to increase usability of Premium series due to conception of getting data so we kindly recommend you change Standart indicators to Premium.

Description of parameters:

  • Comment_Instrument (default value "--- Futures Ticker or AUTO ") - this is just text comment, it does not any effect to indicator
  • Instrument (default value "AUTO") - The brokers can use different tickers on the same instruments so you can use name of exact futures to get data from it. On value "AUTO" server try to determine futures using broker's ticker name.
  • MetaTrader_GMT (default value "AUTO") - each broker setup his MT server with different GMT. Unfortunately there are no bultin methods to determine it so server compares last time from terminal with its own.
  • Update_in_sec (default value "19") - This parameter set frequency of data update (in seconds)
  • Reverse Settings (default value "--------- Reverse for USD/XXX symbols ---------") - this is just text comment, it does not any effect to indicator
  • ReverseChart (default value "false") - for USD/ forex pairs (exceot USD/JPY, USD/CAD, USD/CHF) you should set it to "true" so indicator data turn over to match chart of forex pair.
  • DO_NOT_SET_ReverseChart (default value "...for USD/JPY, USD/CAD, USD/CHF --") - this is just text comment, it does not any effect to indicator. The comment just shows the tip that you do not need to use ReverseChart for pairs like USD/JPY, USD/CAD, USD/CHF because indicator founds them automatically

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