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LinkBack (2) | Release Tools | Display Modes |
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
zdo
on
01-21-2008, 12:35 PM
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Re: Bid-Ask Tape Indicator
Take a look at OnBalanceVolume indicator. (Preference option: run one of the low lag ma s through the obv with a very short length. Benefits: fewer false starts, less jiggle. Drawbacks: lags the raw by about one bar.) Plus check out KlingerGoslin. I talked with one trader who uses nothing but price, KGI, and trendlines and divergence on the KGI. Also,Trend39 incorporates it well into his methods and has a long running thread in the TS Library about the use of divergence with this indicator… hth |
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By
Tasuki
on
01-24-2008, 11:42 PM
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Re: Bid-Ask Tape Indicator
Please see attached chart. This comes from the free video that TradeTheMarkets puts out every night. They're selling, for $499, an indicator which they call "TTM Delta Divergence". It looks suspiciously like the bid-ask indicator that is shown on this thread. Are they the same? Are Hubert Senters and John Carter selling, for nearly five hundred dollars, an indicator that's free on Traders Lab? Or is there some difference?
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By
marketguy
on
01-25-2008, 12:09 AM
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Re: Bid-Ask Tape Indicator
Dear Taz,
They supposedly licensed their indicator from Market Delta who charges even more for it. The TL version is a close knockoff of MD's version. The TTM version has the advantage of an alarm when divergence occurs and one color for a bullish divergence and another color for a bearish divergence. Other than that, they are awfully alike. I actually like the MD version better as it places a signal above or below the price bar. But, no big deal. What would be great on the TL version is the ability to set an alarm. I don't know if this is possible yet. Bryan |
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By
Blu-Ray
on
01-25-2008, 04:10 AM
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Re: Bid-Ask Tape Indicator
It looks pretty much an exact copy, if you let me know what the parameters are for the divergence, I'll code it up so it will put an alert on. I should also be able to code it up so it will place a dot above/below price bar if you want.
$499..................the y're having a laugh. The funny thing is, I like watching Hubert's videos, but when he's suddenly started saying " This is an indicator I've been secretly using......." just before a seminar with the relevant people, for example: the DDF indicator just before the seminar with John Clayborg and now he's right into market delta just before............you guessed it. Cheers Blu-Ray |
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By
marketguy
on
01-25-2008, 11:21 AM
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Re: Bid-Ask Tape Indicator
That would be so cool Blu and very appreciated. The idea of the divergence is to look for negative delta as a bar makes a new high, indicating more aggressive sellers are coming in. And vice versa at new lows - more aggressive buying is entering the market as a bar makes a new low.
This indicator is most useful as price hits a new HOD or LOD or a new high or low in a current major swing. Thanks in advance, Bryan |
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By
swansjr
on
01-25-2008, 06:14 PM
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Re: Bid-Ask Tape Indicator
Yeah, thanks blu ray. Looking forward to seeing your results.
Can anyone provide information or a link to the conceptual premise behind this indicator and how it might be used? I'm looking at the attached jpg files and it's not clear to me what's going on. I think the guys over at TTM did a free seminar on "market delta" this week which seems very similar to this indicator. Does anyone have the link to the recording? Thanks. |
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By
dovetree
on
01-25-2008, 10:23 PM
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Re: Bid-Ask Tape Indicator
Hi Ive been trying to convert this to TS 2000i. I cannot get it to verify.
Can someone suggest what the trouble maybe with lines like Intrabarpersist Mycurrentbar(0), which comes up as expecting "(" or word not recognised? thanks |
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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 | |
| Currently Active Users Viewing This Release: 1 (0 members and 1 guests) | |
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