Collaboration to design a new indicator?

[Soultrader]

	Quote:	walterw
	Yes Soul, I am also excited with this new tool ¡¡ it brings light from a great intrinsic technical concept.... you can post it on the indicators forum, I dont know how to do it... cheers Walter.

I completely agree. Thanks, I will post this up.

[walterw]

Soul, I dont want to drive you nuts but I have been playing around today with this indicator and did some more enhancements like adding an optional smoothing factor, wich could be eventually usefull... if you put the smooth input to 1 it will look like the original... from there on you can play and experiment the possible benefits of having some noise reduction.... enjoy, cheers Walter.

[Soultrader]

Hi walterw,

I imported the file and am testing around with it. What exactly does the smoothing factor do? Thanks

[walterw]

it applies a simple average to the data.... so it will do exactly the same but it will take into acount more periods (bars back) of data...

[Soultrader]

Im having trouble understanding this. The TICK Delta will plot upticks versus downticks for each price bar? Now the smooth version will plot the average of this for the number of bars back? Wouldnt this be delaying volume data?

[walterw]

Correct, it will delay volume data, there will be some lag... you are not refering to one bar only, I still dont know if it will be usefull... just playing around... what I think its that it will be more solid shifts from red to green and vice versa.... cheers Walter.

[walterw]

Ok, on this coding thread I have a variation of Volume Delta Oscillator that brings a very interesting new perspective in all this Delta aproach... this is the Volume Delta Cumulative... What it does is that it takes the delta diference of each bar (like raw VDO does) and we make a summation of the x prefixed periods back... so we add or substract in this last bar to the latest summation value we got of the delta.... so far I have been able to code for a prefixed amount of bars, I would need help from TL fellow coders to be able to make an alternative formula that will make the sumation from the first bar of the session until the current last one... There is a Video I would suggest looking, quite interesting, even for forex traders that "suffer" the lack of volume information... wich brings some light on this cumulative issue and its advantages an uses, thought their formula its not exactly what we are after... the concepts within are very nice in terms of cumulative delta... Buy Sell Pressure (please pay attention to the Forex Cumulative tick indicator) our Volume Delta Cumulative would look very similar if we can make it sum from the first bar of the session... in terms of aplications I will make a post on the delta thread.... cheers Walter.

pD: default inputs had been made for very small timeframe (22T on er).... for a 110T russel chart you should put a 10-5 input aprox...

[ItalianSharp]

Are all of you guys TS users? Is there any eSignal user out here who can re-code these indicators into eSignal language?