[Imbalance Volume Sensor] Detect true imbalances through volume analysis

Hi friends,

Are you a Renko enthusiast? If so, Imbalance Volume Sensor might catch your eye.

This indicator leverages 3 conditions to spot true imbalance zones, areas where the price is likely to react strongly when revisited, resulting in highly reliable signals.

2 signal types are generated:

• Pullback signal: Triggered when a reversal candle forms within an Overall Imbalance Zone, indicating the price reacting to a previous imbalance and suggesting possible trend continuation
• Supplementary Volume Delta signal: Based on Effort vs. Result, it activates when delta volume (negative for selling, positive for buying) fails to move prices accordingly, signaling a potential reversal due to unsuccessful buying or selling efforts.

Additionally, it helps spot when trends begin to lose strength, allowing you to seize gains before momentum fades.

Check out the complete overview of Imbalance Volume Sensor!