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 work on historical data (it must be used during a live intraday market) and is relative to the chart interval on which it is used. I have found this indicator to be most useful in shorter charting intervals.

How it works: The data is smoothed using a double-smoothed exponential average that heavily weighs the most recent ratios. This provides a relatively predictable curve (or histogram) that tracks changes very quickly. In addition, a logarithmic ratio is used to provide a zero-line reference (and color change). "

Screenshot:

[TinGull]

Glad you found it useful!

[namstrader]

Thanks so much Tingull

[TinGull]

Anytime

[Agora]

Is there anyway that this can be converted to ELS (2000i) version? Or I can get the code so that I can do it myself?

Thanks

[Blu-Ray]

Originally Posted by Agora »

Is there anyway that this can be converted to ELS (2000i) version? Or I can get the code so that I can do it myself?

Thanks

Here you go ...........



inputs:
Period(20),
UpColor(green),
DownColor(red);

variables:
MyVol(0),
Color(yellow),
SmoothedBA(0),
Length(squareroot(Period) ),
intrabarpersist MyCurrentBar(0),
intrabarpersist VolumeAtBid(0),
intrabarpersist VolumeAtAsk(0),
intrabarpersist BAVolRatio(0),
intrabarpersist VolTmp(0);

if LastBarOnChart and BarStatus(1) <> 2 then begin
MyVol = Iff(BarType < 2, Ticks, Volume);
if CurrentBar > MyCurrentBar then begin
VolumeAtBid = 0;
VolumeAtAsk = 0;
BAVolRatio = 0;
VolTmp = 0;
MyCurrentBar = CurrentBar;
end;
if InsideBid < InsideAsk then begin
if Close <= InsideBid then
VolumeAtBid = VolumeAtBid + MyVol - VolTmp
else if Close >= InsideAsk then
VolumeAtAsk = VolumeAtAsk + MyVol - VolTmp ;
end;
if VolumeAtBid > 0 and VolumeAtAsk > 0 then BAVolRatio = Log( VolumeAtAsk / VolumeAtBid );
VolTmp = MyVol ;
end ;
SmoothedBA = xaverage(xaverage(BAvolra tio, Length), Length);
if SmoothedBA <= 0 then color = DownColor else color = UpColor;

plot1(SmoothedBA, "Pressure", color);
Plot2( 0, "ZeroLine" ) ;


Cheers

Blu-Ray

[Agora]

Blu-ray,

Wow, thanks and so fast! Great customer service!

A

[bubba]

has anyone succeeded in plotting this indicator w/ ts2000i?
it appears it's way beyond my level..
oh, and the same w/ the bid/ask tape indicator. i'll keep trying.
is it missing a function perhaps, that's in the later versions of TS?
2000i doesn't recognize 'insideBid' or 'insideAsk', so i've been trying to replace them. also the 'intrabarpersist' is not known in 2000i..

:edit: could be it's just not doable in 2000i