Bid-Ask Pressure Indicator for Tradestation - Page 2

11-17-2006, 01:08 PM

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Bid-Ask Pressure Indicator for Tradestation

This is a bid-ask pressure indicator for Tradestation trading platform. All credits go out to the author of this indicator from the Tradestation forum alias lleibfarth.

Here is a description from his post:

Description: This indicator is a smoothed version of the TS indicator Bid & Ask Vol Ratio and works with real-time, intraday charts. The intent is to provide more usable information about the current ratio of bid/ask volume. This indicator will not...

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#10 (permalink)

By Blu-Ray on 03-20-2008, 06:29 PM

Re: Bid-Ask Pressure Indicator for Tradestation

	Quote:	drvictorho
	This is a good indicator, but may be i am old and like things visual. Is it possible for someone to code it so that on the histogram and up bar is green and if it goes down the histogram bar is red?? Because if you look at the indicator, it can tell bottoms and tops of the wave form very well as compared to price action. A change in color of the histogram bar would be great.....thanks !!!

errrrrrr..............isn 't it already coded with the color change you mentioned, it certainly looks like it as per the chart on the first post.

edit: after looking at the code, it should definately change color ( remember this code works on live data only )

Hope this helps

Blu-Ray

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#11 (permalink)

By drvictorho on 03-20-2008, 08:36 PM

Re: Bid-Ask Pressure Indicator for Tradestation

currently, the color changes when it crosses above the zero line and stays green when it is above the zero line and it becomes red when it is below the zero line. I was wondering if it can be coded not for zero line crossovers. I would like it to stay green when it keeps going up on the next bar, and go red on a next down bar of the histogram. The price action follows this very well.

thanks...my other favorite indicator is TWIGGS money flow oscillator modified by cosmic.

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#12 (permalink)

By Blu-Ray on 03-22-2008, 12:25 PM

Re: Bid-Ask Pressure Indicator for Tradestation

	Quote:	drvictorho
	currently, the color changes when it crosses above the zero line and stays green when it is above the zero line and it becomes red when it is below the zero line. I was wondering if it can be coded not for zero line crossovers. I would like it to stay green when it keeps going up on the next bar, and go red on a next down bar of the histogram. The price action follows this very well. thanks...my other favorite indicator is TWIGGS money flow oscillator modified by cosmic.

My apologies, I got the wrong end of the stick ( as usual

)

Open up the ELD code and replace this line:

if SmoothedBA <= 0 then color = DownColor else color = UpColor;

with this one:

if SmoothedBA <= SmoothedBA[1] then color = DownColor else color = UpColor;

Hope this helps

Blu-Ray

Thanks: 92

Thanked 34 Times in 22 Posts

#13 (permalink)

By drvictorho on 03-22-2008, 01:27 PM

Re: Bid-Ask Pressure Indicator for Tradestation

BLU-RAY! You the man! Thanks, I am going to try it on Monday.
Thanks for the quick response.

dr ho.

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#14 (permalink)

By drvictorho on 03-26-2008, 07:42 PM

Re: Bid-Ask Pressure Indicator for Tradestation

BLU-RAY,

It works perfectly! The price action follows the B-A Pressure histogram very well. Green for up in price and red for down in price. This works most of the time.

Thank you so much.

dr ho.

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#15 (permalink)

By Blu-Ray on 03-26-2008, 07:53 PM

Re: Bid-Ask Pressure Indicator for Tradestation

	Quote:	drvictorho
	BLU-RAY, It works perfectly! The price action follows the B-A Pressure histogram very well. Green for up in price and red for down in price. This works most of the time. Thank you so much. dr ho.

No Probs, Glad to be of help.

Cheers

Blu-Ray

Thanks: 92

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#16 (permalink)

By Shai on 03-27-2008, 05:55 PM

Re: Bid-Ask Pressure Indicator for Tradestation

how to you open the code?
Thanks

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#17 (permalink)

By Blu-Ray on 03-27-2008, 06:15 PM

Re: Bid-Ask Pressure Indicator for Tradestation

	Quote:	Shai
	how to you open the code? Thanks

Insert the indicator onto the chart, then right click and click on "edit easylanguage", as long as you've got TS8 or if you want to just see the code, I've already posted it on post#4 of this thread.

Thanks: 92

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#18 (permalink)

By daedalus on 07-21-2008, 11:27 AM

Re: Bid-Ask Pressure Indicator for Tradestation

Alright guys... I need some help here. I've got an idea to modify this indicator but don't know quite where to start.

I think keeping trade of the B/A pressure in a market is ESSENTIAL. Obviously reading tape is important and can give you important information about what everyone is doing at a given time.

My question is this. Would it be possible to modify this indicator to track only the B/A for lots over a specified size like you can with the Time and Sales windows in Tradestation?

Basically, i'd like to modify the code to make an input available to specify, ok i only want to track lots in the market over the size of 20 contracts, etc. so that You could weed out the movements of the retail traders with this indicator and only track the smart money's movements within the market?

Thanks for all of your help guys! Hope to hear back from you soon!

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#19 (permalink)

By forsearch on 07-21-2008, 12:50 PM

Re: Bid-Ask Pressure Indicator for Tradestation

Yes, it would be possible.

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