The NinjaTrader CVD Slingshot Indicator identifies three-phase CVD exhaustion setups and marks both early warnings and confirmed volume delta reversal signals.
The pattern is built around Cumulative Volume Delta (CVD) — the accumulated difference between buying and selling volume over a selected period. Instead of comparing price against CVD for divergence, Slingshot tracks CVD itself — how pressure builds, where it reaches an extreme, and when it starts to reverse.
The CVD Slingshot pattern follows three phases. In Phase 1, buying or selling pressure accumulates consistently across consecutive bars — CVD moves in one direction without interruption. In Phase 2, CVD reaches a new local extreme while the per-bar delta begins to slow, indicating that directional pressure is weakening at the peak. Phase 3 confirms the reversal: the per-bar delta switches direction with enough force to satisfy the configured reversal threshold.
That three-phase sequence gives the pattern its name: pressure builds, slows at the extreme, then releases in the opposite direction.
The indicator generates two types of output. An early alert marks the bar where Phase 2 conditions are met — before reversal is confirmed. A confirmed signal marks the bar where Phase 3 conditions are satisfied. Both are available as analytical plot outputs for use in automated strategies.
The CVD Slingshot is a three-phase exhaustion pattern that tracks directional pressure from accumulation to reversal.
Phase 1 — Accumulation
Phase 1 identifies sustained directional pressure. Per-bar delta — calculated as each bar’s CVD close minus its CVD open — must stay negative for a bullish setup or positive for a bearish setup across consecutive bars. Each bar where the sign holds extends the accumulation. A zero delta or a sign change ends the sequence.
The accumulation must last at least the configured minimum number of bars before Phase 2 becomes available. If the sequence exceeds the configured maximum, the setup becomes overextended and is blocked until the directional pressure breaks.
Phase 2 — CVD Extreme & Slowdown
Phase 2 activates when CVD makes a new local extreme — a new low for a bullish setup or a new high for a bearish setup — while the per-bar delta slows relative to the Phase 1 average.
This combination is the core of the CVD exhaustion concept. CVD is still moving in the original direction, but the force behind each bar has weakened at the peak. When Phase 2 conditions are met, an early alert marker appears.
If CVD later extends to a new extreme with continued slowdown, the early alert marker moves to the new bar. If the extension occurs with acceleration rather than slowdown, the indicator returns to Phase 1 and searches for a new extreme.
Phase 3 — Reversal Confirmation
Phase 3 confirms the reversal. The per-bar delta must switch direction and meet the configured reversal threshold within the allowed confirmation window after Phase 2.
A confirmed Slingshot signal appears on the price chart when Phase 3 conditions are satisfied. If no confirmation occurs within the window, the setup is cancelled and the indicator returns to idle.
The detection settings define what qualifies as a valid Slingshot setup at each phase.
Phase 1 Min Bars defines the minimum number of consecutive bars required before Phase 2 becomes available. Setups that resolve too quickly are excluded. If Phase 1 extends beyond the maximum, the setup becomes overextended and is blocked until the direction breaks.
Extreme Lookback controls how many bars back the indicator searches for the CVD extreme. The search is bounded by the current accumulation period and never crosses a CVD reset. Phase 2 requires the current CVD close to form a strict new low (bullish) or strict new high (bearish) relative to prior CVD close values within the Extreme Lookback window.
Slowdown Ratio sets the threshold for Phase 2 activation. The absolute per-bar delta on the extreme bar must be at or below this ratio of the Phase 1 average absolute delta. A ratio of 0.60 means the extreme bar’s delta must be no more than 60% of the Phase 1 average. A value of 1.0 means the extreme bar’s absolute delta must not exceed the Phase 1 average. Lower values require a stronger slowdown.
Confirm Max Bars defines the maximum number of bars after Phase 2 during which Phase 3 confirmation is accepted. If no qualifying reversal bar appears within this window, the setup is cancelled. All phase transitions are determined after a bar closes — Phase 2 is registered after the extreme bar closes, and Phase 3 is confirmed after a closed bar satisfies the reversal delta threshold.
Two settings control what qualifies as a valid Phase 3 reversal bar.
Reversal Threshold Mode defines how the required reversal strength is calculated.
Sign Only requires only that the per-bar delta switches direction. Any positive delta confirms a bullish Slingshot; any negative delta confirms a bearish one. This produces the earliest possible signal but with the least structural filtering.
Phase 1 Ratio calculates the required reversal delta as a multiple of the Phase 1 average absolute delta. If the Phase 1 average was 100 and the Reversal Ratio is set to 0.50, the confirming bar must show a per-bar delta greater than 50. This mode is adaptive — it scales automatically with the instrument and timeframe without manual adjustment.
Fixed Delta sets an absolute minimum reversal delta regardless of Phase 1 activity. This mode requires manual calibration per instrument but provides a consistent absolute threshold.
Price Confirmation Mode adds an optional price-based condition to Phase 3.
CVD Only (default) confirms the signal based on the per-bar delta alone. The confirmed signal appears after a closed bar satisfies the reversal delta threshold.
CVD + Price Break requires the confirming bar to close beyond the Phase 2 extreme bar’s high (bullish) or low (bearish). Both conditions must be satisfied on the same bar.
The indicator calculates CVD internally, so no separate CVD indicator is required.
Delta Type defines how volume is classified into buying and selling components. Up Down Tick uses tick direction and works with standard tick data. Bid Ask uses bid/ask transaction data and requires Tick Replay to be enabled in the Data Series settings along with bid/ask tick data from your data provider. Up Down Tick is the default.
Accumulation Period defines how long the CVD series accumulates before resetting: Session, Day, Week, Custom Session, Fixed Bars Count, or Unlimited. An active Slingshot setup is cancelled when the accumulation period resets.
Reset Mode applies to Session, Day, and Week accumulation. Auto follows the selected period boundary. Manual Time resets the CVD at a specified time and, for Week accumulation, a selected day of the week.
Minimum Trade Size excludes trades below the specified size from delta calculations.
The indicator displays on two layers simultaneously: the price chart and the CVD panel.
On the price chart, Phase 2 produces an early alert triangle at the extreme bar, registered after the bar closes. This marker moves if Phase 2 extends to a new extreme. Phase 3 produces a bullish or bearish confirmation triangle at the bar where the reversal is confirmed — after that bar closes. The Setup Level line marks the high or low of the Phase 2 extreme bar and remains visible until the setup resolves.
On the CVD panel, Phase Highlight zones mark the active state of each phase directly on the CVD series. Phase 1 is shown with a low-opacity background. Phase 2 uses a brighter highlight color from the Early Alert Color setting. Phase 3 confirmation produces a high-opacity flash. Cancelled setups can optionally be shown as grey historical highlights. Phase Labels display the annotations Accumulation, Exhaustion, and Slingshot within the corresponding CVD panel zones.
The CVD series itself is displayed in one of three modes: Candle (default), Histogram, or Line. In Candle mode, a smaller Phase 2 body relative to the Phase 1 average can make the slowdown visible directly on the CVD series. Histogram mode shows the cumulative CVD close value as a vertical bar. Line mode connects CVD close values across bars.
The indicator provides two alert events: an early alert when Phase 2 conditions are met, and a confirmed signal alert when Phase 3 is satisfied. Early Alert and Confirmed Signal notifications can be enabled independently. Popup, sound, and email delivery settings apply to both enabled event types.
Repeat Early Alert On New Extreme controls whether a new alert fires when Phase 2 extends to a new bar.
Alert settings control notifications only. Disabling an alert does not affect detection, markers, or plot outputs.
The indicator exposes analytical plot outputs for NinjaTrader strategies, Strategy Builder workflows, BloodHound, and other compatible automation tools.
The indicator includes an MFE/MAE Tracker module that measures how price has moved after each signal — how far it moved in the favorable direction and how far it moved against it, tracked across several configurable holding periods at once.
Results are shown directly on the chart as a dashboard and can be exported to CSV, giving a way to review signal behavior across a large sample rather than relying on visual impression from scrolling the chart. See how the MFE/MAE Tracker is calculated and how to read the dashboard →
Phase 1 establishes the directional context of the setup. Each bar where the per-bar delta holds the same sign extends the accumulation sequence.
The Phase 1 Highlight zone on the CVD panel shows exactly where the sequence began and how long it has been running. The phase ends when the sign breaks, when a zero delta occurs, or when the maximum bar count is exceeded.
Phase 1 length determines how many consecutive directional bars are included in the setup. In Phase 1 Ratio mode, the measured average absolute delta — not the sequence length itself — sets the slowdown and reversal thresholds.
Phase 2 is the core of the CVD Slingshot. CVD has reached a new local extreme, but the per-bar delta on that bar is weaker than the Phase 1 average — directional pressure is still present but visibly reduced at the peak.
The early alert triangle on the price chart and the Phase 2 Highlight on the CVD panel both appear at this bar. If CVD subsequently extends to a new extreme while still meeting the slowdown condition, the marker moves forward. If the extension occurs with acceleration, the setup returns to Phase 1.
The Setup Level line marks the high or low of the Phase 2 extreme bar. This level is relevant when Price Confirmation Mode is set to CVD + Price Break.
Phase 3 confirms the volume delta reversal. The per-bar delta must switch direction and meet the configured reversal threshold within the Confirm Max Bars window.
A confirmed Slingshot signal appears on the price chart at the bar where Phase 3 conditions are satisfied. The Phase 3 Highlight briefly marks the confirmation on the CVD panel before the setup returns to idle.
If no qualifying bar appears within the window, the setup is cancelled. Historical highlights of cancelled setups can be shown using the Show Historical Highlights setting.
The Setup Level line marks the Phase 2 extreme bar’s high or low — the level price must close beyond for CVD + Price Break confirmation.
In CVD Only mode, this level is informational. The confirmed signal can appear before price reaches it.
In CVD + Price Break mode, both the CVD reversal threshold and the price close condition must be satisfied on the same bar. The signal appears later than in CVD Only mode, but both the volume delta reversal and a price structure break are required simultaneously.
The analytical plot outputs allow the indicator’s detection results to be referenced in automated workflows without replicating the detection logic.
SlingshotSignal and EarlyAlertSignal provide event-based outputs for confirmed and early alert conditions. SetupState provides continuous state information — strategies can monitor phase transitions rather than only final events. The CVD OHLC plots expose the underlying CVD series values for use in custom calculations.
All outputs are independent of alert settings and remain active regardless of whether notifications are enabled.
Defines how volume is classified into buying and selling components.
Defines how long the CVD series accumulates before resetting. An active Slingshot setup is cancelled when the accumulation period resets.
Applies to Session, Day, and Week accumulation.
Defines how the required Phase 3 reversal strength is calculated.
Defines whether price action must confirm the Phase 3 reversal.
Selects how the CVD series is visualized on the CVD panel.
Need changes to this indicator? We can customize it to your specifications — adding new functions, modifying logic, refining visuals, or integrating it with other NinjaTrader tools.
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The indicator provides a set of exposed analytical plot outputs designed for structured integration with third-party strategy builders and automation tools such as BloodHound and BlackBird (SharkIndicators), as well as other algorithmic trading environments.
| Analytical Plot Name | Output Values |
| CVD Open | Value |
| CVD High | Value |
| CVD Low | Value |
| CVD Close | Value |
| Slingshot Signal | > 0 |
| Early Signal | > 0 |
| Setup State | > 0 |
| Long MFE/MAE Period 1 | Value |
| Short MFE/MAE Period 1 | Value |
| Long MFE/MAE Period 2 | Value |
| Short MFE/MAE Period 2 | Value |
| Long MFE/MAE Period 3 | Value |
| Short MFE/MAE Period 3 | Value |
| Long MFE/MAE Period 4 | Value |
| Short MFE/MAE Period 4 | Value |
| Long MFE/MAE Opposite | Value |
| Short MFE/MAE Opposite | Value |
Plot output names and descriptions are technical identifiers intended solely for software integration purposes and do not constitute trading advice, signals, or recommendations.
The CVD Slingshot is a three-phase CVD exhaustion pattern. Phase 1 identifies sustained directional pressure in the cumulative volume delta. Phase 2 detects a new CVD extreme where the per-bar delta has measurably slowed — a CVD exhaustion condition. Phase 3 confirms the volume delta reversal when the per-bar delta switches direction with sufficient force.
A CVD divergence indicator compares price swing structure against the CVD series. The CVD Slingshot does not use price-to-CVD comparison. It tracks the internal structure of CVD itself — how directional pressure builds across consecutive bars, where it exhausts at an extreme, and when it reverses. The result is a different kind of signal rooted in CVD momentum rather than price-CVD divergence.
The early alert marks the bar where Phase 2 conditions are met — CVD has reached a new local extreme and the per-bar delta has slowed. This appears before Phase 3 is confirmed. If Phase 2 extends to a new extreme bar, the early alert marker moves to the new bar. The early alert is also available as an analytical plot output.
If no qualifying reversal bar appears within the Confirm Max Bars window after Phase 2, the setup is cancelled and the indicator returns to idle. Historical highlights of cancelled setups can be retained using the Show Historical Highlights setting.
CVD Only confirms the signal based on the per-bar delta reversal threshold alone. CVD + Price Break requires the confirming bar to also close beyond the high (bullish) or low (bearish) of the Phase 2 extreme bar — both conditions on the same bar. The Setup Level line marks this price level on the chart. CVD + Price Break produces a later signal with an additional structural filter.
The Slowdown Ratio sets the Phase 2 activation threshold. The absolute per-bar delta on the Phase 2 extreme bar must be at or below this ratio of the Phase 1 average absolute delta. A value of 0.60 means the extreme bar’s delta must be no more than 60% of the Phase 1 average. A value of 1.0 means the extreme bar’s absolute delta must not exceed the Phase 1 average. Lower values require a stronger slowdown.
The Phase Strength Filter prevents setups from forming during periods of very low CVD activity — when each bar contributes only a minimal per-bar delta. If the Phase 1 average absolute delta falls below the configured minimum, Phase 2 is not activated. The filter is disabled by default and requires calibration on the target instrument.
Yes. The indicator exposes analytical plot outputs: CvdOpen, CvdHigh, CvdLow, CvdClose (the raw CVD series), SlingshotSignal (confirmed reversal events), EarlyAlertSignal (Phase 2 events), and SetupState (current phase state). These can be accessed by NinjaTrader strategies, Strategy Builder workflows, BloodHound, and other compatible automation tools. All outputs operate independently of alert settings.
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