Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Soultrader

Collaboration to design a new indicator?

Recommended Posts

James

 

 

Is this the kind of indicator your after? It's a little bit easier on the eyes than the last one.

 

I've just figured this one out today and so far it looks good.

 

Give me a shout if this is what your after.

 

Cheers

 

Blu-Ray

UpDownInd.bmp

Share this post


Link to post
Share on other sites

James

 

I've been after this type of indicator for ages now, even looked at the market delta indicator as that was the info I needed, how much volume up compared to volume down.

 

Anyway, long story short, the green is the total volume, with the red the down volume and with them being overlapped you can always see how much buying compared to how much selling.

 

Import the ELD and it will probably just show two lines. Just right click and format the indicator, switch the colour on the volume to green (down Volume already red). Then switch the style to histogram on both and adjust the weight of the lines. Remember to press the default button, so you only have to do this once.

 

This only works on intraday data, daily charts don't work.

 

Enjoy

 

Blu-Ray

UPDOWNINDICATOR.ELD

Share this post


Link to post
Share on other sites

Thank you Blu-Ray,

 

Wow.... this makes my life alot easier now. Excellent indicator. I tried the one walter posted earlier but I must say I like your better due to simplicity and visibility. Where did you find this indicator? Did you make this yourself? Thanks

 

James

Share this post


Link to post
Share on other sites

Thanks James

 

Yes I've made it myself, but if you open the easy language it's simple really. I've searched all over for something like this, then it dawned on me this morning when I found out you could plot just the down volume only, so I just joined the two indicators together.

 

Next mission is to see if I can get it to plot only the 10+ lots and above.

 

 

Blu-Ray

Share this post


Link to post
Share on other sites

well Wsam, the version I shared, puts the most traded color at the top... so you can have a visual who did the most at a glimpse, its the same you have "ttm tick volume", maybe we should remove that white middle dot and the average I find it useless and makes the indicator cloghted...

Share this post


Link to post
Share on other sites

How about taking this to the next level.... this is an "Oscillator of the tick up/dn volume" I find it on tradestation forum and did some touches... it does show very nice the flow of this "tick delta"... must confess I didnt thought that tick deltas could be that reliable as volume deltas.... thought it looks very nice... I will study the potencial on this and later maybe open a thread on its possible usage.... enjoy, cheers Walter.

TICK DELTA OSC.ELD

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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.

TICK DELTA SMOOTH.ELD

Share this post


Link to post
Share on other sites

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?

Share this post


Link to post
Share on other sites

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.

5aa70dc47b3be_tickdeltasmooth.thumb.jpg.d0c70284dae3fbbba593ad3b11f1fd0f.jpg

Share this post


Link to post
Share on other sites

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...

5aa70dc55e823_CumulativeDelta.thumb.jpg.3614c81225a637e3ca2c7ea2a2d17df0.jpg

VOLUME DELTA CUMULATIVE.ELD

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • How's about other crypto exchanges? Are all they banned in your country or only Binance?
    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.