Bid-Ask Tape Indicator

[zdo 20]

Could you possibly make this into an ELD? I am having trouble getting it right. Thanks.

 

Bryan

 

Here you go.

Imo, the c[0] > c[1] logic is a bit lame. Anyone got better ideas? :\

TAPEBIDASKWITHDIV.ELD

[marketguy 11]

Thanks ZDO,

I'll try it and give you my thoughts on it?

 

Bryan

[sean 10]

Its work pretty good but there is something with the bid and ask indicator

I am adding pic that show

 

Some time there is more Down vol then Up vol But its give green line on the indicator

 

Some time there is more Up vol then Down vol But its give red line on the indicator

 

 

thanks/sean

Edited January 17, 2008 by sean
add file

[zdo 20]

Some time there is more Down vol then Up vol But its give green line on the indicator

 

Some time there is more Up vol then Down vol But its give red line on the indicator

 

Sean,

 

Maybe you figured this out by now but will reply just in case. If you look at the code you’ll see that the TapeBidAsk measures the balance of VolumeAtBid and VolumeAtAsk not raw volume. There are indicators posted which will display the balance of raw upVol and dnVol if that’s what you need.

 

hth,

 

zdo

[sean 10]

thanks

 

cane you post link for balance of raw upVol and dnVol

 

sean

[zdo 20]

thanks

 

cane you post link for balance of raw upVol and dnVol

 

sean

 

sean,

 

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

[Tasuki 10]

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?

[marketguy 11]

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

[sean 10]

thanks zdo

[Tasuki 10]

Thanks, Bryan. So, TTM finally got permission to use something. Well, that's a step in the right direction.

Taz

[Blu-Ray 10]

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..................they'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

[marketguy 11]

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

[Blu-Ray 10]

No probs Bryan, It looks like I've got it coded up, but I need to test it on live data. So I'll check it on Monday and post the ELD then.

 

Cheers

 

Blu-Ray

[swansjr 10]

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.

[dovetree 10]

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

[swansjr 10]

I found the link to the TTM webinar on Market Delta:

 

Trevor Harnett's Market Delta Webinar Recording

[zdo 20]

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

 

dovetree,

 

I doubt 2000i has intrabarpersist. See if it will 'compile' with that word removed...

 

hth

[dovetree 10]

Hi Zdo, Thanks, Ive tried that and verification gets past those terms but obviously there are other terms that are not recognized by 2000i, the next one is "bartype".

 

thanks

[Blu-Ray 10]

Hi Zdo, Thanks, Ive tried that and verification gets past those terms but obviously there are other terms that are not recognized by 2000i, the next one is "bartype".

 

thanks

 

Dovetree

 

Try this instead of bartype:

 

"if (DataCompression < 2) then"

 

Hope this helps

 

Blu-Ray

[zdo 20]

Hi Zdo, Thanks, Ive tried that and verification gets past those terms but obviously there are other terms that are not recognized by 2000i, the next one is "bartype".

 

thanks

 

dovetree,

I'm pretty sure 2000i only has time interval bars so isolate and eliminate the code that applies to bartype

MyVol = Iff(BarType < 2, Ticks, Volume); is just going to be

MyVol = Volume;

 

…And if 2000i doesn’t have InsideBid and InsideAsk, I think you’re hosed

 

hth

[Blu-Ray 10]

Right here goes for the Delta Divergence:

 

It's based on the High of Day and Low of Day, I've also coded it with the alerts to fire off when a divergence appears.

 

Note: when testing it today, Alerts were really annoying within the first 15-30 minutes of the day, as they kept firing off when the market is finding it's range. ( Maybe that was my fault because I was testing it on 5 different symbols )

 

Also coded it up into a "Show Me", so it will plot a dot with the relevant color when a divergence appears. However, I've coded this one up to fire off as soon as the next bar starts. As what would happen, it would plot a dot when divergence started to appear within a bar, but by the time the bar finished and there was no divergence the dot would still be there.

 

Hope this helps

 

Blu-Ray

 

 

 

Note: to anyone unfamilar with this indicator, it will only work on LIVE data ( not historical ).

 

Oh......I nearly forgot, don't forget to send in your $499 to TL , so we can split the money :rofl: ( a comment made by Hubert in the webinar )

 

 

DELTA_DIVERGENCE.ELD

DELTA_DIVERGENCE_SM.ELD

[dovetree 10]

Hi Blue ray, Zdo,

 

thanks the datacompression worked but as zdo suspected insidebid insideask is not 2000i compatible.

 

Zdo 2000i is capable od using ticks so im not sure that we are done yet.

 

thanks for the help

[dovetree 10]

Hi Zdo, can you define what "insidebid"and Insideask" is for the current TS then I might be able to come up with something for 2000i

 

thanks

[Blu-Ray 10]

Hi Blue ray, Zdo,

 

thanks the datacompression worked but as zdo suspected insidebid insideask is not 2000i compatible.

 

Zdo 2000i is capable od using ticks so im not sure that we are done yet.

 

thanks for the help

 

Dovetree

 

What about just using pure volume, rather than bid/ask data. If that's any good for you, just let me know and I can sort it out tomorrow if you want.

 

Cheers

 

Blu-Ray

[Blu-Ray 10]

Dovetree

 

I got bored, so I've coded it anyway.

 

Hope this helps

 

Blu-Ray

 

VOLUME_DIVERGENCE.ELD