Buy/Sell Pressure Indicator - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Would you please suggest any good strategy based of them?
Would you please suggest any good strategy based of them?
The indicator is not intended to be used as the sole component of a strategy, it is intended to be an additional tool to the arsenal. The indicator is intended to tell you which group is in control, the bears or the bulls and when does the shift in power take place.
Cheers,
Pip
Might sound wild and crazy but...possible make an arrow for better tick volume indicator?
Arrow down on drastic volume change from BUY TO SELL
and arrow up on drastic volume change from SELL TO BUY
Thoughts?
Thanks!
Metatrader volumes are always ticks. You can not determine the direction from the number of ticks
Metatrader volumes are always ticks. You can not determine the direction from the number of ticks
That is an accurate statement, except, we are not solely looking for number of contracts, level of activity and type is the real target in this instant.
Cheers,
Pip
That is an accurate statement, except, we are not solely looking for number of contracts, level of activity and type is the real target in this instant.
Cheers,
PipSeems a misunderstanding : those are ticks. Not number of contracts or "type" (the "type" part I do not understand - how can a tick show a "type"?). Also, with artificial ticks inserted by brokers - happening all the time, it is arguable if ticks can be used as a real measure of "activity".
In any case, nothing to do with real volumes at all
Seems a misunderstanding : those are ticks. Not number of contracts or "type" (the "type" part I do not understand - how can a tick show a "type"?). Also, with artificial ticks inserted by brokers - happening all the time, it is arguable if ticks can be used as a real measure of "activity". In any case, nothing to do with real volumes at all
Hello again,
Thank you for your insight. Clearly I am not articulating my point very well. In an effort to explain things better I will use quotations from external sources.
In regards to applicability of tick volume, please review the two quotes below:
"Tick Volume is different from the regular volume measurement in equities. In equities, each share traded is counted and thus 100 shares will equal a volume of 100. In the forex market, however, trading is decentralized and it is impossible to keep track of all the amounts and sizes of contracts in a given day. As an alternative, tick volume is measured in number of tick changes. The theory is that price movements occur in relation to trading activity and therefore Tick Volume can provinde insight into the intensity of a given price movement. "
Source: Tick Volume | Forex Indicator, Learn Online Forex Trading | CMS Forex
"The volume which our broker provides is tick volume. Tick volume represents the activity of the market participant, not the real bid/ask volume. That raises a question: Is activity important? Should I trade when there’s high activity or should I trade when there’s low activity? As explained above, we want the moving market, so we want high activity. When the big boys are active they’ll make trading decision which’s millions of dollar being thrown to bid/ask the market, the candle is moving fast because of the number of bid/ask, the change/movement of a candle shown the amount of activity by market participant. If there’re large amount of bid/ask, the movement is fast, therefore the activity is high, and so is the tick volume. That leads us to conclusion, the tick volume we are seeing is actually proportional to the real volume; in a simple word, when the real exchange volume is high, the tick volume offered by broker will be high as well proportionally. That brings us to another conclusion is that, what we are seeing is actually we are tracking the big boys, we see how active they are to make our own trading decision. When they are active, which’s shown by high volume, we’ll be there to go fishing with them as well. Hurrah, tick volume explained!"
Source: https://www.dukascopy.com/fxcomm/fx-article-contest/?Tick-Volume-And-Its-Application&action=read&id=300
As in regards to type, If tick volume can be used as proxy for true volume (although not perfect), then it follows to assume that an up tick is considered a proxy for a bullish activity, while the down tick is considered a proxy to bearish activity
Cheers,
Pip
Buying/Selling Pressure by apprentice
bsp.mq4