Orderflow Buy/Sell Momentum

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1. Overview

 The buy/sell momentum indicator, which is also part of our Graphical orderflow package, shows several important order flow signals:

Buy /Sell Momentum indicator

  • Extreme buy/sell volume at the top/bottom of each candle
  • Extreme buy/sell momentum
  • Stacked delta imbalances
  • Unfinished business
  • Delta divergence
  • Pickachu delta signal
  • Volume POC of each candle

1.1 Extreme buy/sell volume at top/bottom of the candle

This signal indicates when we see that almost all the buy/sell volume inside the candle occurs at the top or bottom of the bar. By default, this will be indicated by a bright green/red outline around the bar, but you can change the colors and whether you want the candle body, outline to be used

If almost ALL the volume of a bearish candle occurs at the bottom of the candle then we have a high chance that the price will continue selling down. The same for the situation where we see that almost all of the volume of a bullish candle occurs at the top of the candle. In that case, we have a very high chance that the price will continue moving up

 Extreme buy/sell volume


12 Extreme buy/sell momentum

This signal occurs when the buy/sell volume momentum picks up (speed) quickly. When volume picks up aggressively and above the standard deviation of the last X candles then we can be sure that price will follow soon, or that the trend will continue.

By default, this extreme momentum is indicated by one or more triangles inside the candle. For extreme buy momentum, the arrows point up, and for extreme sell momentum the arrows point down. The number of arrows tells something about the force/speed of the buying/selling. One arrow means that the momentum is outside 1 standard deviation.  Two arrow means that the momentum is outside 2 standard deviations and 3 arrows indicate that the momentum is outside 3 standard deviations

 When we see extreme buy/sell momentum we can expect the price to continue with the trend in the same direction

Extreme buy/sell momentum

 4.3 Stacked delta Imbalances

Stacked imbalances occur when we have 3 (or more) imbalances stacked on top of each other. This can happen on the bid and/or the ask side

When a stacked imbalance is the indicator will highlight this by drawing a horizontal line for the next 5 bars (you can change the number of bars)

When we get a stacked imbalance on the bid, the indicator will mark this with a red line for the next 5 bars (see screenshot).  For a stacked imbalance on the ask, the line will be green

Stacked delta imbalances

14 Unfinished business or failed action

An unfinished business or failed action occurs when 

  • The market makes a new high but has 1 or more contracts traded at the bid at the high price of the bar
  • or the market makes a new low but has 1 or more contracts traded at the ask at the low of the bar 

When this happens then this is called unfinished business or a failed action. In general, price likes to return to this level and restest it, or take care of the unfinished business.

The indicator can show unfinished business by a green or red line which stays on the chart until the market returns to retest it. You can optionally choose to hide lines that are retested or keep them on your chart

 


1.5 Delta Divergence

Delta divergence is shown by a yellow triangle above/below the bar. This signal occurs when:

1) we have a green up bar but with a negative delta. Meaning that although the bar is green, there was more selling volume than buy volume inside the bar.

2) or when we have a red bar but with a positive delta. Meaning that although the bar is red, there was more buying volume than sell volume inside the bar.

Delta divergence signal


1.6 Delta Pickachu signal

The delta pickachu signal is a 2-bar signal and occurs at the close of the 2nd bar. It indicates that 2 opposing delta divergence signals were detected. When this happens the Pikachu signal is shown by a lightning bolt above/below the bar

Delta Pickachu signal

1.7 Candle Volume POC

The white horizontal line inside each candles indicates the point where most volume was traded for that candle.

Candle Volume POC


1.5 Bloodhound/Blackbird/Automated strategies support

The buy/sell momentum indicator exports several plots for the excessive sell/buy volume & buy/sell momentum signals which you can use in, Bloodhound/Blackbird, The NinjaTrader Strategy builder, or plain Ninja Script to build your own automated strategies

  • MomenumShort
  • MomentumLong
  • ExcessiveBuyVolume
  • ExcessiveSellVolume
  • DeltaDivergence
  • DeltaPickachu

 

Features

  • Combine the power of footprint/order flow charts with the more pleasing look of a normal candle chart
  • Show all the important order flow signals on normal candlestick charts
  • Orderflow zigzag : our custom based zigzag indicator
    • ATR based zigzag to detect the best price swings
    • Shows Fibonacci retracements for last price swing
    • Shows price/volume divergence signals
    • Shows no-interest signals
    • Shows HH/LL markers
    • Alerts for No Interest and Price/Volume Divergence
    • Supports bloodhound/strategy builder
  • Volume zigzag histogram indicator
    • Shows Cumulative volume / zigzag price swing
    • Shows volume /price divergence
  • Buy/Sell momentum indicator
    • Shows excessive buying/selling volume
    • Shows excessive buying/selling volume momentum
    • Shows unfinished business order flow signal
    • Shows multiple stacked imbalances order flow signals
    • Shows delta divergences
    • Shows Volume POC for each candle
    • Shows delta pickachu signals
    • Supports bloodhound/strategy builder
  • Market extremes indicator
    • Shows when multiple exchanges (Nyse/Nasdaq/Dow) are overbought/oversold

 

Changelog

 v1.0.0.7 3-may-2022

  • Fixed issue that indicator complained it needed the OrderFlow+ license from NinjaTrader

 v1.0.0.6 9-jan-2022

  • Fixed issue with bloodhound

 v1.0.0.5 - 21-dec-2021

  • released as stand alone indicator

 

Terms

All our indicators and packages come with

  • a one-time fee only
  • lifetime license for 1 pc (we offer 20% discount for 2nd licenses)
  • includes free future updates

We also offer a 100% free 5-day trial of all our indicators allowing you to test our software before you decide to invest in it. Since you are able to test all our software before buying it all sales are final and non-refundable

 

DISCLAIMER

Please note that the market extremes require real-time ^TICK data for the NYSE, DOW, and Nasdaq. This is NOT included in your default data subscription. Please consult your broker on how to get this data. Without this real-time data, this indicator will not work!!

 

Media

Buy /Sell Momentum indicator