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Do we have Better Pro AM indicator?
Started:September 27th, 2010 (11:27 PM) by tickvix Views / Replies:5,170 / 11
Last Reply:January 3rd, 2013 (09:52 PM) Attachments:1

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Do we have Better Pro AM indicator?

Old September 27th, 2010, 11:27 PM   #1 (permalink)
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Do we have Better Pro AM indicator?

I like to know if we have anything that would work as the Better Pro AM indicator and Better SineWave from Emini-Watch.com

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Old September 27th, 2010, 11:27 PM   #2 (permalink)
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Old September 28th, 2010, 10:54 AM   #3 (permalink)
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tickvix View Post
I like to know if we have anything that would work as the Better Pro AM indicator and Better SineWave from Emini-Watch.com

Do not think so, there are several versions of the BetterVolume Indicator, but I have not seen a Better Pro AM indicator so far.

Better Volume:

View Download Details - Big Mike's Day Trading Forum

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Old September 28th, 2010, 11:38 AM   #4 (permalink)
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Thank you for your help!!!

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Old September 28th, 2010, 11:15 PM   #5 (permalink)
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tickvix View Post
Thank you for your help!!!

Do a search for the D9phaseshift indicator based on JMA, some have said it produces comparable to better results than the Better Sinewave. My understanding is that the Better Volume indicator is based on upticks and downticks and thus cannot be reproduced in Ninja. You should ask cunparis about this or read some of his threads. His personal trading methodology is based on the emini-watch indicators and his pace of tape indicator while watching multiple timeframes. He also spends quite a bit of time trading price action.

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Old October 12th, 2012, 05:02 PM   #6 (permalink)
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Better Gom Pro Am

The Better Pro Am indicator can easily be duplicated by noting the size of each trade as it comes in, and keeping a running total for each bar of the arithmetic mean of all of these values.

This will work on any type of chart, not just tick based charts.

Then you look for the largest "Professional" and smallest "Amateur" values of average trade size over the lookback period.

That's easy to do for real time data, but historical data only gives you one tick per bar.

So for historical data you need to use either the GomRecorder or a synchronized one tick dataseries. If you use the GomRecorder you can keep separate track within each bar of the average trade sizes for buys and sells (at or above ask and at or below bid).

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Old October 12th, 2012, 09:32 PM   #7 (permalink)
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Well worth just purchasing the 3 emini watch indicators.

I use them and once you understand how to use them they are very good.

cheers


tickvix View Post
I like to know if we have anything that would work as the Better Pro AM indicator and Better SineWave from Emini-Watch.com


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Old October 12th, 2012, 09:55 PM   #8 (permalink)
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I have the Better Pro Am from eminiwatch.com . There's no freeware version of the indicator and it's .dll protected and passcode protected. And it works without need of a gom recorder. How it does that I don't know.

imo, the Better Pro Am is the best of the bunch. Very often a reversal happens on "pro" dots, but also a strong new trend or leg thrust in the same direction can also happen.


Last edited by Cloudy; October 12th, 2012 at 10:08 PM.
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Old October 13th, 2012, 01:44 AM   #9 (permalink)
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And it works without need of a gom recorder. How it does that I don't know.

It is possible to approximate bid and ask traded volume by using uptick and downtick volume. The accuracy is around 75% to 90 % depending on instruments and timeframes traded.

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Old October 13th, 2012, 01:57 AM   #10 (permalink)
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A very simple idea


My understanding is that the Better Pro Am only works on charts with period type "Tick".

For these "tick bar" charts it's pretty easy to calculate the average trade size - because the number of trades is the same for each bar, the ATS (average trade size) is directly proportional to bar volume.

So on a bar with a volume of 200 on a 100 tick chart, the average trade size is 200/100 = 2. There, that didn't hurt a bit, did it!

Amateur bars have low values and Professional bars high values of ATS, but there is no attempt to distinguish between the trade sizes of Buy Volume and Sell Volume trades.

For real time only data on a chart with ANY period type, you can easily track the ATS because there is a BarUpdate event for every trade.

By using a one tick dataseries you can get the historical average trade sizes for a chart with ANY period type.

As long as you don't try to get separate results for buy and sell volume, there is no need for any type of bid ask or uptick downtick data. The only downside is that indicators using one tick dataseries take forever to load if they go back more than a few days.

That's all you need to know, now roll up your sleeves and start coding!


Last edited by Zondor; October 13th, 2012 at 02:09 AM.
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