Bid-Ask Tape Indicator - Page 3 - Traders Laboratory

01-31-2007, 11:01 AM

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Bid-Ask Tape Indicator

Here's an indicator I requested and was created by Insideday. Its a simple indicator that calculates the number of contracts at the Ask minus Bid off the tape. Basically, I'm interested in seeing if there are more lots at the ask vs the bid at key price levels such as pivots. Im also interested in seeing the difference during a tight range in anticipation of a breakout.

I personally plot this...

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#20 (permalink)

By sean on 01-14-2008, 10:44 AM

Re: Bid-Ask Tape Indicator

This is not working real time
I am still getting (green or up candle) and red negative ticks (more down ticks)

I am trying to get different color when there is Divergence between price action and tick action

Thanks in advance
sean

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#21 (permalink)

By zdo on 01-14-2008, 02:29 PM

Re: Bid-Ask Tape Indicator

	Quote:	sean
	This is not working real time I am still getting (green or up candle) and red negative ticks (more down ticks) I am trying to get different color when there is Divergence between price action and tick action Thanks in advance sean

Try this edit for starters

CHANGE:

if (c > c[0] and color = DownColor) or
(c < c[0] and color = UpColor) then
color = DivColor;

TO

if (c > c[1] and color = DownColor) or
(c < c[1] and color = UpColor) then
color = DivColor;

Let me know if 'it still don't work'

I resent you pointing out my mental deficiencies

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#22 (permalink)

By sean on 01-15-2008, 12:05 AM

Re: Bid-Ask Tape Indicator

Thanks I will try it tomorrow

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#23 (permalink)

By james_gsx on 01-15-2008, 10:20 AM

Re: Bid-Ask Tape Indicator

I just plugged it in using the changes zdo posted, works great so far! Thanks!

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#24 (permalink)

By marketguy on 01-15-2008, 02:20 PM

Re: Bid-Ask Tape Indicator

Could you possibly make this into an ELD? I am having trouble getting it right. Thanks.

Bryan

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#25 (permalink)

By zdo on 01-15-2008, 05:42 PM

Re: Bid-Ask Tape Indicator

	Quote:	marketguy
	Could you possibly make this into an ELD? I am having trouble getting it right. Thanks. Bryan

Here you go.
Imo, the c[0] > c[1] logic is a bit lame. Anyone got better ideas?

Attached Files

TAPEBIDASKWITHDIV.ELD (5.1 KB, 56 views)

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#26 (permalink)

By marketguy on 01-15-2008, 05:53 PM

Re: Bid-Ask Tape Indicator

Thanks ZDO,
I'll try it and give you my thoughts on it?

Bryan

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#27 (permalink)

By sean on 01-17-2008, 06:01 PM

Re: Bid-Ask Tape Indicator

Its work pretty good but there is something with the bid and ask indicator
I am adding pic that show

Some time there is more Down vol then Up vol But its give green line on the indicator

Some time there is more Up vol then Down vol But its give red line on the indicator

thanks/sean

Attached Images

12345.jpg (320.5 KB, 115 views)

Last edited by sean; 01-17-2008 at 06:13 PM. Reason: add file

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#28 (permalink)

By zdo on 01-18-2008, 11:33 AM

Re: Bid-Ask Tape Indicator

	Quote:	sean
	Some time there is more Down vol then Up vol But its give green line on the indicator Some time there is more Up vol then Down vol But its give red line on the indicator

Sean,

Maybe you figured this out by now but will reply just in case. If you look at the code youâ€™ll see that the TapeBidAsk measures the balance of VolumeAtBid and VolumeAtAsk not raw volume. There are indicators posted which will display the balance of raw upVol and dnVol if thatâ€™s what you need.

hth,

zdo

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#29 (permalink)

By sean on 01-18-2008, 01:09 PM

Re: Bid-Ask Tape Indicator

thanks

cane you post link for balance of raw upVol and dnVol

sean

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