Horizontal Scrolling in Ensign Windows – Template 3

A number of people have expressed an interest in some “charts” that I have, which show various information scrolling across the chart window. I promised to show them how it’s done and to give a few examples of templates that they may find useful. This is the third of four templates that use the same basic technique.

Scrolling Delta

This is the third example of a scrolling ticker. It uses the same basic technique as the trade tickers previously described. The difference here is that this template calculates the bid/ask delta and related info, and scrolls this across the chart, like this –

From the top, what this shows is the total volume in the bar for trades larger than a pre-defined filter size, the maximum delta that occurred within the bar for these trades, the minimum delta that occurred within the bar, the delta at bar completion, and finally what this final delta represented as a percentage of either the maximum or minimum delta within the bar (red for negative final delta, green for positive).

Now, it’s not my intention to try to educate about the ins and outs of delta – there is plenty of stuff out there on it. But I will say that, personally I haven’t found anything from delta that speaks to me. I do keep it on my charts, but only because it takes up so little space, and I live on in the hope that maybe one day a spark will flash for me.

Anyway, I put the template forward as it, or some derivative of it, may speak to you.

To change the filter size, just put whatever value you want into Line B of the “Static” DYO. Only trades with volume greater than that value should then be counted in the delta calculations. Obviously, if you want all trades then set this to zero.

Here, you can see a simple example where only 1 trade has so far counted in the delta calc for the last two bars.

So the maximum delta is easily calculated as + 76 – 0, and + 50 – 0, for the last two bars. The minimum delta is clearly zero as there has been no trades at the bid or lower. Both sections are painted green because the final delta is positive (more volume going off at the offer or higher, compared to that going off at the bid or lower).

The pressure calculation is simply the final delta divided by the maximum delta (if final delta is positive), or divided by the minimum delta (if final delta is negative), then expressed as a percentage. (I have used 1 minute charts in the examples to keep the numbers low. As soon as you go to any meaningful timeframe the numbers do start to get big as you can imagine.)