Delta Scalper provides real-time, tick-by-tick order flow analysis of changes in buying and selling dominance between the current price bar and the previous price bar. It can be used with Numbers Bars, bar, candlestick, Renko and Heiken Ashi charts and allows the trader to quickly see if a near-term change in price direction is likely based upon the relative weight of buying/selling compared to the previous price bar.
When a Delta Scalper condition is encountered in real-time, an indicator will appear below the current price bar if Delta has increased by the Buy Imbalance percentage set within the Study Settings. Conversely, if the current price bar's Delta decreases by the Sell Imbalance percentage set within the Study Settings, an indicator will appear above the current price bar. The price range across which the condition is occurring is highlighted within the price bar.
As Delta changes in real-time, the indicators may well appear and disappear multiple times during the bar's formation.
At the end of the price bar's formation, if the Delta Scalper condition is in place, the indicator will remain above/below the price bar. Additionally, EmojiZones may be drawn highlighting the range of prices at which the condition was first encountered through to the closing price of the bar to assist in determining low risk entry points and stop levels.
Delta Scalper may be licensed for Sierra Chart on a Lifetime, 1-month or 3-month basis, or as part of the complete Emoji Trading Order Flow Suite. Licences include all indicator updates and enhancements during the license period.