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.

hunter1

Help with TS Bid & Ask Indicator Please!

By hunter1, in Coding Forum

Recommended Posts

hunter1    10

hunter1
Posted

I have no ability to code so I need to ask for help from some one to modify the bid ask indicator for Trade Station. This is what I am looking to do.

 

Currently when used as a histogram you end up with a blue bar with a yellow Q-tip top. What I would like to see is the totla bid and ask trader per bar.

 

For example using a 200 tick chart you will get a bar showing the totla combined bid ask the traded. I would like to get the bar divided into its component parts. So I could see 500 trades at the ask and 300 at the bid for example. I hope this makes sense .

 

Right now you can tell the bid is coming in as it is happening for long trades but you must wait a bar to see if the bid fell off for short trades.

 

Thanks for any help in advance.

Share this post

Link to post
Share on other sites

hunter1    10

hunter1
Posted (edited)

No ,at least the my bid ask indicator doesn't. If it did I would think it would easier to get the bars to display it via color.

You can get up and down volume when you click on a bar but what I am looking for is an indicator that will give trades at the ask and trades at the bid.For example , when a long is done a market order will go at the ask and a limit order at the bid. So knowing the up and down volume will not provide the same information and knowing what occured at the bid and the ask.

Edited by hunter1

Share this post

Link to post
Share on other sites

nickm001    10

nickm001
Posted

insidebid/insideask are snapshoot of the RT market values and as such cannot be trusted. They are NOT updated on tick bases on the charts, only in matrix and T&S window, but ufortunatelly those are not accessible via EL code. This is a limitation of TS data feed and as far as I know, they have no plans to correct it soon.

Share this post

Link to post
Share on other sites

hunter1    10

hunter1
Posted

Thanks Nick. I understand what you are saying and it would be better to get data from the matrix. However for my purposes the bid/ask indicator is providing the information I need. When plotted in histogram it is charting the bid pressure for lack of a better explanation. In line form the indicator provides a bid ask channel. In histogram from you always end up with a yellow Q'tip because ask is on top. The indicator is following the bid and ask however when put in histogram the bid overlaps the ask.

 

I am hoping someone can code the indicator so that this overlap does not occur so i can see the total ask as well as the total bid. I would imagine it would be similar to WalterW's Tick Delta in look.

 

Perhaps someone can apply to the bid/ask the the same or similar changes he made to a volume indicator.

Share this post

Link to post
Share on other sites

thrunner    10

thrunner
Posted

http://www.traderslaboratory.com/forums/f46/market-delta-footprint-for-tradestation-516.html

Market Delta is 3rd party software that provides interesting ways of viewing bid/ask information. This information could be useful for analyzing market behavior as price approaches a key support/resistance level.

 

For those that use TradeStation, I have created a simulation of Market Delta. Note that TradeStation provides a snapshot of the bid/ask so it won't be accurate most of the time. Therefore, I have provided an option in this analysis technique to use upticks and downticks instead. Although the bid/ask info is not completely accurate in TradeStation, you can determine whether it is good enough or if using upticks/downticks is preferred. This Market Delta indicator defaults to using upticks/downticks, which I find useful. For example, in the first chart below, a downswing is highlighted in the ES on 8/29. In the second chart, you can see that the simulation of Market Delta using upticks/downticks highlighted the net selling.

127d1159921169-market-delta-footprint-for-tradestation-es-marketdelta.gif

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.

×
Go To Topic Listing

  • Topics

  • Posts

    • HFblogNews
      HFMarkets (hfm.com): Market analysis services.

      By HFblogNews · Posted

      Date: 21st February 2025.   European PMI Disappoint, Weighing on Euro Before German Elections   The Euro is the first currency to witness the volatility on this month’s PMI reports. The French, German and British PMI data have resulted in the Euro being the worst-performing currency of the European Session so far. However, will the Euro continue to decline throughout the day? European Purchasing Managers’ Indexes The French Purchasing Managers Index was the first European index to be made public. The release resulted in the Euro instantly declining 0.24%. The main concern from the French data was the Services PMI which fell from 48.2 to 44.5. Previously the market was expecting the data to remain more or less unchanged. The weak data triggered the decline which came to a halt after Germany’s PMI was released.     The German Manufacturing PMI read 0.5 points higher than previous expectations and the Services PMI was 0.2 points lower. The data from Germany was a relief for Euro investors and the price rose 0.12% higher. However, traders should note that the price of the EURUSD continues to remain 0.20% lower than yesterday’s close. The price of the EURUSD will now depend on the PMI data from the US. The value of the US Dollar will depend on its PMI release this afternoon and the Consumer Sentiment Index. Analysts expect both the US Services and Manufacturing PMI data to remain above the 50.00 level in the expansion zone. German Elections 2 Days Away Germany is set to hold a general election this Sunday, February 23rd, following the collapse of the coalition of social democrats, liberals, and greens. Given the country's highly proportional electoral system, German polls provide a strong indication of potential government formations post-election. The main concern for Germany is the AFD party who are Far-Right Nationalists. Currently, ahead in the polls are CDU (centre-right), and AFD (far right), followed by the SPD (centre-left). Traders should note that the results of the elections are likely to trigger strong volatility on Monday, but also influence volatility today. Economists may become further concerned if the far-right gains power for the first time due to uncertainty. If the government, similar to France, is unable to form a coalition, this would also be a concern for the Eurozone. Furthermore, the Euro this week is also under pressure from comments from members of the European Central Bank. ECB Governing Council member Fabio Panetta said to journalists that officials need not slow interest rate cuts, as January's 2.5% inflation is still expected to reach the 2.0% target this year. He also advised the European economy is weaker than previously expected. EURUSD - Technical Analysis and Indicators The EURUSD is trading above the 75-bar Exponential Moving Average and 100-bar Simple Moving Average on the 2-hour chart. However, the price is moving away from the key resistance level at 1.05058 indicating the price is losing momentum. The short-term volatility is indicating the price is retracing downwards. On the 5-minute timeframe, the price is trading below the 200-bar SMA and is also forming clear lower lows and highs. Simultaneously, the US Dollar Index is trading above the 200-bar SMA on the 5-minute chart confirming no current conflicts. Currently, the US Dollar is the best-performing currency of the day attempting to regain losses from the past 2 weeks. Watch today’s Live Analysis Session for more signals as they develop!   Key Takeaway Points: Weak French Services PMI triggered an initial Euro decline, but German PMI provide a slight relief. However, EURUSD remains lower than yesterday’s close. The Euro’s direction now depends on the US PMI reports, with analysts expecting US data to stay in expansion territory. Sunday's German election could drive volatility, especially if the far-right AFD gains power or if coalition formation proves difficult. ECB official Fabio Panetta suggested no need to slow rate cuts, citing weaker-than-expected economic performance and expected inflation decline. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      BE Bloom Energy stock, watch for a range breakout, target 34 area at https://stockconsultant.com/?BE
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      APLD Applied Digital stock. nice rally, watch for a top of range breakout at https://stockconsultant.com/?APLD
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      UAL United Airlines stock, watch for a narrow range breakout, target 122 area at https://stockconsultant.com/?UAL
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      WBD Warner Bros Discovery stock, watch for a range breakout at https://stockconsultant.com/?WBD
×
×
  • Create New...

Important Information

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

  I accept