 Bookmap provides users the possibility to track the cumulative volume delta or the CVD of a specific instrument. The CVD is a measure of the balance between market sellers and market buyers, or in other words, the balance between aggressive buyers and sellers. The CVD value is derived by subtracting the volume of the market or aggressive sell orders from the market or aggressive buy orders at any given point of time. A positive value shows aggressive buyers while a negative value shows more aggressive sellers. CVD can come in handy when evaluating in the strength of price moves and can be used to evaluate possible areas of exhaustion when divergence occurs. For instance, a sharp price increase that is accompanied by a decreased CVD may suggest the price move is losing momentum and a price reversal is brewing. For instance, take a look at these price spikes here, here, and here. Notice the CVD has been steadily decreasing during these upward price movements, suggesting less aggressive buyers have participated in these moves. This may suggest overall weakness in the move and indeed price dropped afterwards. Although exhaustion is defined as the lack of buying activity and we can see there is buying activity at these peaks, but the CVD captured the overall weakness of this buying activity very clearly because we can see that price created new highs but the CVD did not. Consider these areas for potential entries. Another example, although not one of divergence, is the quick move down from a specific level. Let's take a look at this example. Notice how CVD went consistently in the same direction as price. The first instance of a sharp shift in CVD readings marked the area where price trend has shifted. Now look for pullbacks to those areas and trend continuation. These areas can offer excellent entries. Take a look at this example here and then search the chart for others. You'll notice this phenomenon recurs again and again. Take a look at this example here and there's another example here. Study these areas and develop your own strategies to take advantage of this CVD reading. Now let's go over a few CVD settings. Bookmap provides several useful settings of CVD that can enhance the level of information it provides. First, CVD values can be session or chart based, allowing users to get a more focused reading depending on the timeframe they trade. Users can also set different reset points at which CVD starts accumulating anew. You can choose to reset now or add a reset for a specific time. Second, users can define various CVD lines per instrument and assign different thresholds for each CVD by clicking on the plus tab here. I'll give the CVD study the name of CVD5100 and click create. Now let's define a filter that will take into account only market orders of a specific minimum and maximum. I'll input 5 for minimum and 100 for maximum. Now this CVD will only display aggressive orders that are over 5 lots but less than 100. This way users can measure the balance of small market buy and sell orders versus the balance between large market buy and sell orders by comparing it to another CVD study. Users can look into divergence between the aggressiveness levels of larger and smaller players which can also suggest a possible shift in market conditions. Another useful setting is splitting out the buyers and sellers. This allows users to study within one CVD if there are more aggressive buyers or more aggressive sellers. It is important to note that CVD should not be used as a single indicator but as a measurement of market conditions that can assist users to understand the overall picture together with other indicators and with overall liquidity conditions reflected by the book map heat map.