It would be great if there was a way to not just have a hand tool for a volume profile, but also for a volume delta profile. Currently the only way to get a volume delta profile for a given chart range is to use the volume imprint study, switch on the summary profile, set it on type delta and on time span visible bars, and then squeeze the chart so that it shows exactly the range for which we want to see the volume delta histogram.
Volume delta histograms are important, because they show where traders are trapped and potentially try to close their positions at breakeven and therefore cause a bounce in price. One method is to start the delta profile count at the beginning of a trend move (especially if it coincides with a news event. That's why a hand tool would be important, because the profile could be registered to the beginning of the move.
Volume delta histograms are important, because they show where traders are trapped and potentially try to close their positions at breakeven and therefore cause a bounce in price. One method is to start the delta profile count at the beginning of a trend move (especially if it coincides with a news event. That's why a hand tool would be important, because the profile could be registered to the beginning of the move.