Delta resets every candle. CVD never forgets.

The delta scores one candle and then starts over. The CVD — Cumulative Volume Delta — is the running sum of every delta, candle by candle: the whole war drawn in a single line.

A sum that remembers everything

Each candle adds (or subtracts) its delta to the total. Five candles with deltas of +40, −10, +25, −5 and +30 build a CVD of +40, +30, +55, +50, +80. A rising CVD means buying aggression rules the session; a falling CVD means selling aggression does. One glance at the line tells you which side has been winning the whole war — not just the last battle.

The healthy read: price and CVD together

Like the delta, the CVD only makes sense next to price. Confirmation: price rises and the CVD rises — the move is backed by real buying aggression. Suspicion: price rises but the CVD does not follow — a move without aggression behind it, and you should ask yourself who is holding it up. A healthy trend usually advances with its CVD in favor; when they stop moving together, pay attention.

The divergence: the classic warning

The classic warning looks like this: price prints a lower low — say from 7430 down to 7418 — but the CVD prints a higher low, from −800 up to −450. The market pushed lower, yet this time there was far less selling aggression behind the push. Sellers are pushing with less force on every attempt: the pressure is running out.

CVD in 3 reads: the direction tells you which side rules the session. Coherence with price tells you if the move has real backing. The divergence warns of exhausting aggression — a warning, never a guarantee. The CVD shows you the aggression; next you need to see where passivity waits. In chapter 6: the liquidity map.