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Volume Up-DownTicks per minute standarized
This is an indicator I've developed myself to get a better view of the UpTicks (ticks with a price higher than the preceding tick) and DownTicks (ticks with a price lower than the preceding tick).
Some features from this indicator:
It plots the UpTicks minus DownTicks to get an idea of the buying pressure;
This is divided by the time it took to form a bar, so that on tick and point charts you'll get an truer picture of the volume;
This buying pressure per minute is divided by the standard deviation, which helps to identify little shifts in buying pressure that would normally get lost. (This also means that any buying pressure below or above a certain number of standard deviations can be seen as significant volume).
Especially these extreme values (which are signalled in yellow) are of importance to the trader. As an interpretation tip: also look at the price action of the bar
after
the extreme buying or selling pressure to get an idea of where the price might go to. So, combine it with regular price action and look at the trend in the histogram.
Category
MultiCharts
Details:
Volume Up-DownTicks per minute standarized
Category:
MultiCharts
February 8th, 2012
Size: 9.09 KB
Downloaded: 718 times
Keywords:
buysellpressure
priceaction
volume
1119
Jura
View Download Details
April 13th, 2018 10:01 AM
Al3cs
Nice work, thank you
December 20th, 2017 04:31 AM
mani4kannan
July 23rd, 2013 06:42 PM
hamstrus
Thanks a bunch! I was looking into making something similar myself so I am eager to use this one.
May 6th, 2013 06:38 AM
tung66622
Thank you very much!!!
July 18th, 2012 11:03 PM
sptrader
very nice- great idea
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