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LinkBack (2) | Release Tools |
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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By
dovetree
on
01-29-2008, 11:50 PM
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Re: Bid-Ask Tape Indicator
Hi Blu ray, I thank you agian for the work. It appears the following code works with 2000i.
vars: LL(0),HH(0); if date <> date[1] then begin LL = low; HH = High; end; if Low < LL then LL = Low; if High > HH then HH = high; if upticks > downticks then value1 = (upticks-downticks) else value1 = -(downticks-upticks); plot1(value1,"ticks"); if plot1 > 0 then setplotcolor(1,green) else setplotcolor(1,red); if low = LL and value1> 0 then begin setplotcolor(1,blue); Alert( "New Low_Divergence"); end; if high = HH and value1< 0 then begin setplotcolor(1,magenta); Alert ("New High_Divergence"); end; The solution seems to be working OK but if you can see a problem with the code I would appreciate your further input. thanks |
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By
dede
on
01-31-2008, 07:38 PM
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Re: Bid-Ask Tape Indicator
http://clicks.aweber.com/y/ct/?l=7Iw...kjtc0grpBToSzA |
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By
zdo
on
02-01-2008, 02:02 PM
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Re: Bid-Ask Tape Indicator
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By
dede
on
02-01-2008, 03:29 PM
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Re: Bid-Ask Tape Indicator
I just started using it ...have it on a 1 min chart on the YM. I got one signal today early in the morning...at the time it was the new high (although briefly).
My understanding is it will give signals whenever there is a divergence and not necessarily when a new high/low is hit. I plan to monitor it over the next week so hopefully I will know more later and can report back. TTM suggested it be used only when new highs/low are hit as a counter trend signal (eg. fade the high). |
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By
Blu-Ray
on
02-01-2008, 05:28 PM
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Re: Bid-Ask Tape Indicator
No, it will only fire off a signal at the low or high of the day. But as zdo just mentioned if people agreed we can easily change it to the lowest low of x bars or something. Cheers Blu-Ray |
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By
drsushi
on
02-02-2008, 09:55 PM
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Re: Bid-Ask Tape Indicator
I belong to TTM and get JC's video newsletter at night. It gives me access to thier discussion forum etc. I posted that the TL version of the DD Indicator is available here for free. They removed my post. I tend to like JC and Hubert, but those guys really seem to be about the $$. My assumption is that they have a ton of it, but yet everything they sell is for a heafty price. It's like the Hieken Ashi bars. They call it the TTM Trend and even to this day they still sell it when you can find it for free at TL or maybe on the TS forum. They don't want to give anything away.
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LinkBacks (?)
LinkBack to this Thread: http://www.traderslaboratory.com/forums/f46/bid-ask-tape-indicator-1131.html
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| Posted By | For | Type | Date | |
| Bid-Ask Tape Indicator - Page 4 - Traders Laboratory | This thread | Refback | 01-25-2008 04:01 AM | |
| Traders Laboratory - forumdisplay | This thread | Refback | 08-16-2007 04:29 AM | |
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