As you may know I published a number of indicators, which provide volume delta analysis in MetaTrader, including Forex. For example, there exist VolumeDelta, VolumeDeltaM1, and CumulativeDeltaBars for MetaTrader 4, as well as their counterparts for MetaTrader 5. Among them, VolumeDelta is the origin and groundwork for all other products.
According to customer’s requests, the volume delta could benefit from an oscillator representation of volume based curves. Actually VolumeDelta is an oscillator itself, but some people want probably to have a constant range for easy detection of overbought/oversold state. I’m not sure this makes the indicator readings more reliable because normalization to a range, say, from 0 to 1, is only a wishful thinking. Nevertheless I decided to implement a simple indicator wrapper capable of building standard WPR on existing volume delta buffers. So said, so done. It’s ready. And it’s powered by VolumeDelta or delta bars (VolumeDeltaBars for MT5, Cumulativ