What it shows
Direction comes from each bar's close relative to its open. The study accumulates trade counts in that direction and resets when the candle direction reverses. A signed moving average adds a smoother reference.
How to read it
- Positive values describe the upward candle-direction run; negative values describe the downward run.
- Magnitude reflects accumulated trades, not price distance.
- Compare the run with its average. It does not identify how many trades were buyer-initiated.
Settings that matter
Length controls the average and defaults to 15. Chart type and bar size strongly influence the sequence and trade counts.
Example sequence
Bars closing above their opens accumulate positive trade counts. A bar closing below its open starts a negative run from its own trade count.
What to keep in mind
Despite the name, this version is not ask-minus-bid delta. It uses candle direction and Number of Trades. Current-bar readings can change before close.