Volume Delta + Price action

gistfile1.txt

//@version=5
strategy("Price Action + Volume Delta Strategy", overlay=true)

// Internal Volume Delta Calculation
useCustomTimeframeInput = input.bool(false, "Use custom timeframe")
lowerTimeframeInput = input.timeframe("1", "Timeframe")

var lowerTimeframe = switch
    useCustomTimeframeInput => lowerTimeframeInput
    timeframe.isseconds     => "1S"
    timeframe.isintraday    => "1"
    timeframe.isdaily       => "5"
    => "60"

// Simulate Volume Delta (up and down volume)
upVolume = request.security(syminfo.tickerid, lowerTimeframe, close > open ? volume : 0)
downVolume = request.security(syminfo.tickerid, lowerTimeframe, close < open ? volume : 0)

// Calculate Volume Delta
lastVolume = upVolume - downVolume

// Volume Delta Conditions
volumeDeltaUp = lastVolume > 0
volumeDeltaDown = lastVolume < 0

// Price Action Conditions
isBullishCandle = close > open
isBearishCandle = close < open

// Entry and Exit Conditions
longEntry = isBearishCandle and volumeDeltaUp
longExit = volumeDeltaDown

shortEntry = isBullishCandle and volumeDeltaDown
shortExit = volumeDeltaUp

// Execute Strategy
if (longEntry)
    strategy.entry("Buy", strategy.long)

if (longExit)
    strategy.close("Buy")

if (shortEntry)
    strategy.entry("Sell", strategy.short)

if (shortExit)
    strategy.close("Sell")

// Plot Volume Delta for Visualization
plot(lastVolume, title="Volume Delta", color=lastVolume > 0 ? color.teal : color.red)
hline(0, "Zero Line", color=color.gray)