BuySellPressure Indi

[tiger45]

Is there a way to modify the way this indicator displays so that it shows the bid/ask volume waxing and waning, and ultimately closes in the net direction? I'd like it to look like this:

http://screencast.com/t/1rcRtlG9

Thanks

[NinjaTrader_PatrickH]

Hello tiger45,

Thank you for your post.

Can you define the waxing and waning plot idea further? Something like what BuySellVolume does?

What are the gray bars representing in the screenshot as it would be for this idea of an indicator?

What are the black lines representing in the screenshot as it would be for this idea of an indicator?

[tiger45]

The current indicator just builds upon itself. It distinguishes positive and negative volume with color. I'd like to see more of a net result bar.

The idea is the bar acts just like a price bar, showing the maximum positive and maximum negative values. The only major difference is that each bar always starts on the zero line.

So if the bar appears to have a wick, it meant the buying volume increased to some level, then faded because of increased selling volume.

Thanks for looking into this for me.

[NinjaTrader_PatrickH]

Hello tiger45,

Thank you for your response.

What dictates the line plotting above or below the 0 line? For example, is sell volume below the 0 line and buy volume above?

I am trying to get an idea of how the bar plots. Based on what you have said I would see a plot above 0 for buy and below 0 for sell, but what dictates which bar is built - because I can have buy and sell volume at the same time. Is it which ever is a larger value for the current instrument bar?

[tiger45]

Hey Patrick,

What is getting plotted is the net difference between buying volume and selling volume. When there is more buying than selling, the bar is green and is above the line. When the selling volume is greater, the bar is below the zero line and is red.

Here's a scenario:

As the bar opens, buying volume is greater than selling volume and the bar rises above the zero line. Lets say the bar grows to 100 (there were 100 more contracts bought than sold).

At some point, selling volume increase and the bar starts to fall. It will leave a wick in its path, showing that the buying volume was 100 contracts greater than selling volume at its maximum.

Selling continues until there is more selling volume than buying. At that point, the bar will cross below the zero line and turn red. This continues until the net volume is a negative 75, for example.

Then buying volume starts to increase and the bar begins to rise towards the zero line, leaving a tail that ends at 75, showing that at the maximum, selling volume was 75 contracts greater than the buying volume.

Now say the bar closes with a net selling greater than buying by 25. The bar would be red with a close at 25, have a wick going up to 100, and a tail going down to 75. So when looking at the bar, you could see the max and min differences in the buying and selling, and you would know the end result.

Thanks again for helping me with this.

[NinjaTrader_PaulH]

Hello tiger45,

As a means to start the indicator, you may want to review the "spread indicator": http://www.ninjatrader.com/support/f...d=4&linkid=512 which is an example of using candlesticks as an indicator.

[koganam]

Hey Patrick,

What is getting plotted is the net difference between buying volume and selling volume. When there is more buying than selling, the bar is green and is above the line. When the selling volume is greater, the bar is below the zero line and is red.

Here's a scenario:

As the bar opens, buying volume is greater than selling volume and the bar rises above the zero line. Lets say the bar grows to 100 (there were 100 more contracts bought than sold).

At some point, selling volume increase and the bar starts to fall. It will leave a wick in its path, showing that the buying volume was 100 contracts greater than selling volume at its maximum.

Selling continues until there is more selling volume than buying. At that point, the bar will cross below the zero line and turn red. This continues until the net volume is a negative 75, for example.

Then buying volume starts to increase and the bar begins to rise towards the zero line, leaving a tail that ends at 75, showing that at the maximum, selling volume was 75 contracts greater than the buying volume.

Now say the bar closes with a net selling greater than buying by 25. The bar would be red with a close at 25, have a wick going up to 100, and a tail going down to 75. So when looking at the bar, you could see the max and min differences in the buying and selling, and you would know the end result.

Thanks again for helping me with this.

That can only work in realtime, as some of your data is not stored anywhere, so cannot be plotted historically. Specifically, there is no storage of the highest buying or selling pressure: it is all about the close.

[tiger45]

I know. I'm OK with real time only plotting.