Better Delta

Better Delta is an OFL tool that is focused on the Delta (Ask Volume-Bid Volume) of a Volume Candle that is equal to the
Volume Candle that creates the Session Delta Pivots. This is important because of the correlation of the Breadth (distance
from high to low) of these Volume Candles to the Harmonic Rotation of the product itself.

With this tool, users can manually adjust the % threshold for each of the various categories of Better Delta. Suggested
settings for this indicator would be to align the b/s DELTA and the b/s DOM Delta to a 1-Sigma delta percentage. While
b/s DELTA+ should be set to a 2-Sigma delta percentage. OFL has provided some out of the box setting suggestion for
ES/NQ/RTY.

NQ Example:
Delta: 10% (1-Sigma Delta Percentage Candle)
Delta+: 15% (2-Sigma Delta Percentage Candle)
DOM: 10% (1-Sigma Delta Percentage Candle) plus a dominate positive/negative Delta throughout the candle
Zero Delta: Within a threshold near neutral or ZERO Delta throughout the candle

By overlaying the information from a Better Delta higher timeframe chart onto an execution chart the user is able to
monitor higher time-frame Delta and its correlation or divergence to lower time-frame price action, indicators and OFL
tools.

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Configuring Better Delta on NinjaTrader
To load the OFL NinjaTrader indicators, either go to an existing chart window or open a new chart. To open a new chart,
go to the NinjaTrader Control Center window, press New and select Chart.

Figure 1

In the Data Series dialog box, enter the name of the instrument you wish to trade or select it from the dropdown menu.

Figure 2

Select your chart type and value, the number of days you wish to load and make any other updates you wish to make and
press ok.

On the chart window, click the Indicator button or press CTRL-I to bring up the indicator dialog box.

Figure 3

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Under the list of available indicators, double click the OFL folder, select the indicator and click add.

Figure 4

If this is your first time bringing up this indicator, this will load all the default values under Properties. Make your desired
changes to the list of available parameters.

For Better Delta, the following parameters are available:

The first three entries under Properties define the underlying chart that the indicator calculations are based on. The
settings shown are independent of your primary chart settings which is the chart that is shown on the chart window. In
this example, the primary chart is a time-based chart with each bar representing 1 minute of time (Figure 2).

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The Calculation Chart is used internally by the indicator and is never visible on the screen. You are free to pick your
preferred chart type and period for the primary chart irrespective of the Calculation Chart. The indicator will use the
settings used for the Calculation Chart to perform the calculations and display the results on the primary chart at the
appropriate points. Please use the recommended OFL settings for the Calculation Chart for the instrument that you are
planning to trade. The most up to date list of recommended settings for all OFL tools for various instruments can be
found on the OFL Discord server. In the example shown, the Calculation Chart is a 7500-Volume chart.

We strongly recommend that you always leave the checkbox for “Calculation bar break at EOD” selected to avoid
unpredictable outcomes due to variations in starting point on non-time-based charts.

There are two options to view the Better Delta signals on a chart:

• Color price bars

By default, chart bars will be colored by the indicator to show the various signals. You may adjust the colors by updating
the Color fields in the Plots section. In this mode, none of the other settings under Plots will have any effect.

Figure 5

To be able to clearly see the indicator signals, we recommend that you select neutral colors for the data series candle
colors. To change the color on your price bars, click the Data Series button or type CTRL-F in the chart window and update
the colors for Candle body outline, Candle wick, and Colors for down and up bars. OFL recommended settings are shown
below:

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 Figure 6
Please note that there are multiple OFL indicators that change the color of price bars. If you choose to add multiple such
indicators on the same chart panel, to avoid confusion, only set one of the indicators to “Color price bars”. Having multiple
indicators changing the color of price bars may cause unexpected results and is not recommended.

• Chart markers

If instead, you prefer to see markers on the chart, you may uncheck the box for “Color price bars” under Indicator
Properties. With this setting, you may choose how far above or below the price bar you would like to see the markers by
adjusting the value for Signal Tick Offset. The offset value is in the units of Ticks for the chosen instrument. For example,
in case of ES or NQ, 16 ticks will be 4 points away from high or low of the price bar.

Figure 7

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Marker colors and sizes can be adjusted by updating the Color and Width values under Plots. In this case, you have the
option to select other marker types by selecting a different “Plot style”. You may select from one of: Block, Cross, Dot,
Hash or any of the 4 Triangle options. Other settings may not properly display the Better Delta indicator signals on the
chart window and are not recommended.

• Other Options

Specific values for remaining percentage and threshold parameters are dependent on the instrument you trade and may
vary over time. Please use the recommended OFL settings for the instrument that you are planning to trade. The most
up to date list of recommended settings for all OFL tools for various instruments can be found on the OFL Discord server.

Using Templates
If you are planning to load the same indicator on additional charts with the same custom settings, you may save your
customizations into a template. Click “template” in the bottom right corner of the Indicator Properties dialog and then
Save. In the Template dialog box, either enter the name for your template and click Save or, select “Save as Default”.

If you select “Save as default”, this will save your custom settings into the default settings for the chosen indicator. By
doing this, next time you add this indicator on a new chart, it will be loaded with your custom settings so you won’t need
to perform your customization steps again.

Update or Remove
To update your preferences, you may go back to the indicators dialog box and make any changes, and press ok.

To remove the indicator from your chart, go back to the indicators dialog box, select the indicator from the list of
Configured indicators, click remove and then press OK.

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 Figure 8

Disclaimer
The OFL NinjaTrader tools are currently supported on NinjaTrader version 8 with Lifetime License running on Microsoft
Windows. None of the OFL NinjaTrader tools are designed to work with the NinjaTrader Strategy Analyzer or other third-
party automation tools. Additionally, OFL NinjaTrader tools are not designed to be called from other NinjaTrader
indicators or strategies. OFL NinjaTrader tools are designed for graphical display on a chart, and for visual interpretation
of Price Action or Order Flow. These tools are not guaranteed to generate the expected results if they are used in any
capacity other than displaying on a chart for visual interpretation.

Additional Resources
https://youtu.be/AYe74ARezKg

https://youtu.be/KXv12Ea3oPM

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