The Delta Filter Bars indicator from VolSys represents an evolved version of the Delta Bars indicator, in that it allows filters to be applied to the delta, with the ability to enable up to four different ranges. 

Follow this short video tutorial: https://www.youtube.com/watch?v=ez3gl7-aSJU

INDEX

• Settings-of-Use
  • General
    • Database
    • Delta mode
  • Range 1 - 2 - 3 - 4
  • Level-settings
  • Contrast marker
  • Series

Settings-of-Use

Clicking on the indicator settings icon will open its configuration window, within which you will be able to make several choices regarding the functionality of the indicator itself.

• General

• Data-base

Defines which database to use to calculate the indicator, specifically you can choose from: 

1. Volume

Represents the total volume traded at each price level. This database is useful for understanding the intensity of trading and identifying the price levels at which most market activity occurred.

2. Aggregate Trades

Show aggregate trade volume by combining trades made on the price level. This option provides a more accurate view of trading activity levels by grouping trades executed on the same price level.

3. Trades

Indicates the number of transactions executed at each price level. This database is useful for understanding the frequency of trades and determining levels of interest in the market.

4. Order

Consider order data, such as the quantity of buy and sell orders at each price level. This option is useful for evaluating order pressure and analyzing the behavior of market participants.

For a more in-depth explanation, please refer to the section "Data base type. 

• Delta mode

Defines by which mode to calculate delta, if you choose Classic mode you will have a simple Delta Bars, while if you choose Multi Range you will enable the functionality of Delta Filter Bars.

• Range 1 - 2 - 3 - 4

Each range defines the possibility of including a min filter and a maxfilter, as well as the possibility of enabling or disabling the filter itself.

Please note that if you enter 0 in the max value the indicator will not apply any max filter.

• Level-settings

Lets you enable up to two horizontal lines, customizable in terms of color and style, at certain positive and negative delta levels. The user will thus be able to easily identify delta pushes that exceed certain thresholds he or she defines.

• Contrast marker

Enables marker verticals when both the minimum and maximum deltas reach a certain threshold set by the user, so as to highlight those situations when, in the same bar, there is a push in one side that is absorbed by leaving a shadow out of the indicator and then recording a delta push in the opposite side, or when the middle/low range records a delta push in one side and the high range in the other side.

• Series

Allows you to customize the colors of the various Range as well as the shadow related to the Maximum Positive and Negative Delta.

By changing the Line Thickness parameter, you can increase the body and shadow of each Delta Range.