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Soultrader

Collaboration to design a new indicator?

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James

 

 

Is this the kind of indicator your after? It's a little bit easier on the eyes than the last one.

 

I've just figured this one out today and so far it looks good.

 

Give me a shout if this is what your after.

 

Cheers

 

Blu-Ray

UpDownInd.bmp

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James

 

I've been after this type of indicator for ages now, even looked at the market delta indicator as that was the info I needed, how much volume up compared to volume down.

 

Anyway, long story short, the green is the total volume, with the red the down volume and with them being overlapped you can always see how much buying compared to how much selling.

 

Import the ELD and it will probably just show two lines. Just right click and format the indicator, switch the colour on the volume to green (down Volume already red). Then switch the style to histogram on both and adjust the weight of the lines. Remember to press the default button, so you only have to do this once.

 

This only works on intraday data, daily charts don't work.

 

Enjoy

 

Blu-Ray

UPDOWNINDICATOR.ELD

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Thank you Blu-Ray,

 

Wow.... this makes my life alot easier now. Excellent indicator. I tried the one walter posted earlier but I must say I like your better due to simplicity and visibility. Where did you find this indicator? Did you make this yourself? Thanks

 

James

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Thanks James

 

Yes I've made it myself, but if you open the easy language it's simple really. I've searched all over for something like this, then it dawned on me this morning when I found out you could plot just the down volume only, so I just joined the two indicators together.

 

Next mission is to see if I can get it to plot only the 10+ lots and above.

 

 

Blu-Ray

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well Wsam, the version I shared, puts the most traded color at the top... so you can have a visual who did the most at a glimpse, its the same you have "ttm tick volume", maybe we should remove that white middle dot and the average I find it useless and makes the indicator cloghted...

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How about taking this to the next level.... this is an "Oscillator of the tick up/dn volume" I find it on tradestation forum and did some touches... it does show very nice the flow of this "tick delta"... must confess I didnt thought that tick deltas could be that reliable as volume deltas.... thought it looks very nice... I will study the potencial on this and later maybe open a thread on its possible usage.... enjoy, cheers Walter.

TICK DELTA OSC.ELD

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Yes Soul, I am also excited with this new tool ¡¡ it brings light from a great intrinsic technical concept.... you can post it on the indicators forum, I dont know how to do it... cheers Walter.

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Yes Soul, I am also excited with this new tool ¡¡ it brings light from a great intrinsic technical concept.... you can post it on the indicators forum, I dont know how to do it... cheers Walter.

 

I completely agree. Thanks, I will post this up.

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Soul, I dont want to drive you nuts :) but I have been playing around today with this indicator and did some more enhancements like adding an optional smoothing factor, wich could be eventually usefull... if you put the smooth input to 1 it will look like the original... from there on you can play and experiment the possible benefits of having some noise reduction.... enjoy, cheers Walter.

TICK DELTA SMOOTH.ELD

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Im having trouble understanding this. The TICK Delta will plot upticks versus downticks for each price bar? Now the smooth version will plot the average of this for the number of bars back? Wouldnt this be delaying volume data?

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Correct, it will delay volume data, there will be some lag... you are not refering to one bar only, I still dont know if it will be usefull... just playing around... what I think its that it will be more solid shifts from red to green and vice versa.... cheers Walter.

5aa70dc47b3be_tickdeltasmooth.thumb.jpg.d0c70284dae3fbbba593ad3b11f1fd0f.jpg

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Ok, on this coding thread I have a variation of Volume Delta Oscillator that brings a very interesting new perspective in all this Delta aproach... this is the Volume Delta Cumulative... What it does is that it takes the delta diference of each bar (like raw VDO does) and we make a summation of the x prefixed periods back... so we add or substract in this last bar to the latest summation value we got of the delta.... so far I have been able to code for a prefixed amount of bars, I would need help from TL fellow coders to be able to make an alternative formula that will make the sumation from the first bar of the session until the current last one... There is a Video I would suggest looking, quite interesting, even for forex traders that "suffer" the lack of volume information... wich brings some light on this cumulative issue and its advantages an uses, thought their formula its not exactly what we are after... the concepts within are very nice in terms of cumulative delta... Buy Sell Pressure (please pay attention to the Forex Cumulative tick indicator) our Volume Delta Cumulative would look very similar if we can make it sum from the first bar of the session... in terms of aplications I will make a post on the delta thread.... cheers Walter.

 

pD: default inputs had been made for very small timeframe (22T on er).... for a 110T russel chart you should put a 10-5 input aprox...

5aa70dc55e823_CumulativeDelta.thumb.jpg.3614c81225a637e3ca2c7ea2a2d17df0.jpg

VOLUME DELTA CUMULATIVE.ELD

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