In an act of "creative imitation" (or is it "imitative creationism"
), Hubert Senter of TTM will also release a proprietary TS indicator called ...
TTM Delta Divergence in early November, 2007. This indicator is looking for:
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Current Low or New Low.
Histogram represent the difference between the volume traded at or above the ask and the volume traded at or below the bid.
Aggressive buyers at the Low.
Aggressive sellers at the High.
Real-time Only
Let it run a little first {in usage} |
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Here is a link to a swf video describing this indicator :
http://www.divshare.com/download/2532690-421
Those wishing to write the code for this may read up on a real time bid ask price action indicator called TickMoneyFlow here:
https://www.tradestation.com/Discuss...D=68788&Page=2 which may be another source of "creative imitation" for TTM.
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{TickMoneyFlow indicator from TS forum. D=68788&Page=2
The CurrentAsk/CurrentBid function returns the current real-time inside Ask/Bid for the last bar on the chart, for use in a chart window.
CurrentAsk/CurrentBid cannot reference historical Ask/Bid data, and returns the Close of the bar for all historical bars in a chart. Keep in mind that symbols that do not trade directly will report 0; (e.g. Market Index Symbols).
}
Inputs: Length1(500),Length2(100);
Vars: IntrabarPersist TickFlag(0),
IntrabarPersist OldPrice(0),
IntrabarPersist TMF(0),
IntrabarPersist NewTickVol(0),
IntrabarPersist MyBarVolume(0);
if BarNumber >= 1 then
begin
NewTickVol = Ticks - MyBarVolume;
MyBarVolume = MyBarVolume + NewTickVol;
if (C>=CurrentAsk) then begin
TMF=TMF + (C * NewTickVol);
TickFlag = 1;
end;
if (C<=CurrentBid) then begin
TMF=TMF - (C * NewTickVol);
TickFlag = 2;
end;
if (C<CurrentAsk and C>CurrentBid) and C>OldPrice then TMF=TMF + (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C<OldPrice then TMF=TMF - (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 1 then TMF=TMF + (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 2 then TMF=TMF - (C*NewTickVol);
OldPrice = C;
if BarStatus(1) = 2 then MyBarVolume = 0;
end;
Plot1(TMF, "TMF");
Plot2(LinearRegValue(Plot1,Length1,0));
Plot3(LinearRegValue(Plot1,Length2,0)); |
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