Bid-Ask Pressure Indicator for Tradestation

[Soultrader 12]

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:

 

20060726114402BA PRESSURE.ELD

[TinGull 10]

Glad you found it useful!

[namstrader 10]

Thanks so much Tingull

[TinGull 10]

Anytime

[Agora 10]

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 10]

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(BAvolratio, Length), Length);

if SmoothedBA <= 0 then color = DownColor else color = UpColor;

 

plot1(SmoothedBA, "Pressure", color);

Plot2( 0, "ZeroLine" ) ;

 

 

Cheers

 

Blu-Ray

[Agora 10]

Blu-ray,

 

Wow, thanks and so fast! Great customer service!

 

A

[bubba 10]

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

Edited January 7, 2008 by bubba

[TRADER1972 10]

Thanks for sharing this indicator. I just learned about it today. It seems like it has good potential to identify buy and sell points. Anyone here have experience with this indicator they would like to share?

[drvictorho 10]

This is a good indicator, but may be i am old and like things visual. Is it possible for someone to code it so that on the histogram and up bar is green and if it goes down the histogram bar is red?? Because if you look at the indicator, it can tell bottoms and tops of the wave form very well as compared to price action. A change in color of the histogram bar would be great.....thanks !!!

[Blu-Ray 10]

This is a good indicator, but may be i am old and like things visual. Is it possible for someone to code it so that on the histogram and up bar is green and if it goes down the histogram bar is red?? Because if you look at the indicator, it can tell bottoms and tops of the wave form very well as compared to price action. A change in color of the histogram bar would be great.....thanks !!!

 

 

errrrrrr..............isn't it already coded with the color change you mentioned, it certainly looks like it as per the chart on the first post.

 

edit: after looking at the code, it should definately change color ( remember this code works on live data only )

 

Hope this helps

 

Blu-Ray

[drvictorho 10]

currently, the color changes when it crosses above the zero line and stays green when it is above the zero line and it becomes red when it is below the zero line. I was wondering if it can be coded not for zero line crossovers. I would like it to stay green when it keeps going up on the next bar, and go red on a next down bar of the histogram. The price action follows this very well.

 

thanks...my other favorite indicator is TWIGGS money flow oscillator modified by cosmic.

[Blu-Ray 10]

currently, the color changes when it crosses above the zero line and stays green when it is above the zero line and it becomes red when it is below the zero line. I was wondering if it can be coded not for zero line crossovers. I would like it to stay green when it keeps going up on the next bar, and go red on a next down bar of the histogram. The price action follows this very well.

 

thanks...my other favorite indicator is TWIGGS money flow oscillator modified by cosmic.

 

My apologies, I got the wrong end of the stick ( as usual :o )

 

Open up the ELD code and replace this line:

 

if SmoothedBA <= 0 then color = DownColor else color = UpColor;

 

with this one:

 

if SmoothedBA <= SmoothedBA[1] then color = DownColor else color = UpColor;

 

Hope this helps

 

Blu-Ray

[drvictorho 10]

BLU-RAY! You the man! Thanks, I am going to try it on Monday.

Thanks for the quick response.

 

dr ho.

[drvictorho 10]

BLU-RAY,

 

It works perfectly! The price action follows the B-A Pressure histogram very well. Green for up in price and red for down in price. This works most of the time.

 

 

Thank you so much.

 

dr ho.

[Blu-Ray 10]

BLU-RAY,

 

It works perfectly! The price action follows the B-A Pressure histogram very well. Green for up in price and red for down in price. This works most of the time.

 

 

Thank you so much.

 

dr ho.

 

No Probs, Glad to be of help.

 

Cheers

 

Blu-Ray

[Shai 10]

how to you open the code?

Thanks

[Blu-Ray 10]

how to you open the code?

Thanks

 

Insert the indicator onto the chart, then right click and click on "edit easylanguage", as long as you've got TS8 or if you want to just see the code, I've already posted it on post#4 of this thread.

[daedalus 10]

Alright guys... I need some help here. I've got an idea to modify this indicator but don't know quite where to start.

 

I think keeping trade of the B/A pressure in a market is ESSENTIAL. Obviously reading tape is important and can give you important information about what everyone is doing at a given time.

 

My question is this. Would it be possible to modify this indicator to track only the B/A for lots over a specified size like you can with the Time and Sales windows in Tradestation?

 

Basically, i'd like to modify the code to make an input available to specify, ok i only want to track lots in the market over the size of 20 contracts, etc. so that You could weed out the movements of the retail traders with this indicator and only track the smart money's movements within the market?

 

Thanks for all of your help guys! Hope to hear back from you soon!

[Guest forsearch]

Yes, it would be possible.

[156 10]

Does this indicator change color? I mean like certain other indicators - the ones that shoud a red bar, the red bar closes and but if the trend goes the other way it changes that closed bars' color ... you know what I mean?

Thank you!

[Blu-Ray 10]

Does this indicator change color? I mean like certain other indicators - the ones that shoud a red bar, the red bar closes and but if the trend goes the other way it changes that closed bars' color ... you know what I mean?

Thank you!

 

You mean " does it repaint the bar" ............ No it doesn't

 

Hope this helps

 

Blu-Ray

[Guest forsearch]

Just keep in mind that it does not work on historical data, though. Gotta run it live for it to work.

[156 10]

You mean " does it repaint the bar" ............ No it doesn't

 

Hope this helps

 

Blu-Ray

 

Yes that was what I had in mind, thanks, I am glad to hear that it doesn't repaints... no offence the indicator looks very good and I had to make sure because I have wasted a lot of time testing indicators that look flawless but when you run them live ... they fail miserably, Nice indicator then!

[spyro 10]

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(BAvolratio, Length), Length);

if SmoothedBA <= 0 then color = DownColor else color = UpColor;

 

plot1(SmoothedBA, "Pressure", color);

Plot2( 0, "ZeroLine" ) ;

 

 

Cheers

 

Blu-Ray

 

 

 

hey blu my freind..

 

little question .... can you maby put in this indicator upgrade with

option that you can filter the volume of the contracts so we can for example filter to 100 contracts only and see just the big boys way ?

 

thanks alot