Help with TS Bid & Ask Indicator Please!

[hunter1 10]

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.

[daedalus 10]

Doesn't it already do that if you click on each individual bar? It will tell you Up Vol and Down Vol...?

[hunter1 10]

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 September 25, 2008 by hunter1

[nickm001 10]

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.

[hunter1 10]

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.

[thrunner 10]

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.

[hunter1 10]

Thanks Thrunner. I am not sure this will work on the fast time frames I use . I am a scalper and primarily use 1 min 150 tick and 80 tick charts.