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Do we have Better Pro AM indicator?
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Do we have Better Pro AM indicator?

  #11 (permalink)
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Hi Zondor, in the screenshots of your journal you have an indicator that is similar to Better proam where it shows paintbars corresponding with the lower indicator "[average trade size] .. Using Binary"? Does it require GOMI data?

Here's a screenshot of Better ProAm from eminiwatch working on a 2min chart. It works on any type chart. I don't know if it uses what FatTails said about approximated "bid and ask traded volume by using uptick and downtick volume."

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Do we have Better Pro AM indicator?-2min_proam.jpg  

Last edited by Cloudy; December 13th, 2012 at 08:25 AM.
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  #12 (permalink)
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Hello Zondor

I read tree time your post and I just don't understand your explanation about the logic behind a pro-am indicator. Is it my bad English or i'm too old

Maybe somebody could use a different wording.!

I'm trading forex.

A happy new year to all

Martin

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  #13 (permalink)
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Zondor View Post
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!

He does seem t use it on time based charts as well (45mn, 135mn and daily).

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