Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Any know an orderflow based momentum/strength indicator?
I am looking for any developments or already finished products for an indicator that measures the stengh of delta (or bid and ask separately) over price.
I have not reached to a formula to attempt building an indicator, but thinking on 3 ways of measuring this:
By period: Last negative delta/last change in price on the last period where last delta was negatiive
and: Last positive delta/last change in price on the last period where last delta was positiive
or by price range measuring: needed delta or bid volume needed to move price up 1 range (and oposite for range down)
or by tick (measuring by ticks/trades how effective fid and ask volumes were to move price up or down)
I have not been able to finalize the math/logic for the indicator. I do not have the programming skils nor the trading knowledge to come up with something like this on my own.
The theory I am chasing is that delta becomes more or less efective in moving price up or down (which is the same as saying that price moves has a changing sensitivity to bid and ask volumes). Then hopofuley that measure can help predict future delta or absortion period.
If any of you have seen an indicator following a similar path, please let me know where I can find it. Or we can start a thread discussion about this matter.
Regards,
Can you help answer these questions from other members on NexusFi?
The developer is a member here, and his footprint chart has a couple indicators where you can program different ideas to be displayed, like this:
It's very similar to Excel language, and I've found it quite flexible and powerful. Without looking to deeply at what you are trying to do, I think you could manage it.
Try this link to read more about the latest version, or try the website - they have a free trial with extensive documentation.
Really? You don't think there is ANY other way to successfully trade? I've read all the Market Wizzards book and I don't recall any of them mentioning trading the DOM only and I thought they were pretty successful. But according to you, they are not?
I know one such indicator that I tested some time ago. It's quite interesting, but in the end I didn't buy it. I only used that momentum, the rest of what the indicator can do is useless in my opinion. I had the impression that it was slowing down my PC a bit in wilder markets. I would love to figure out the logic behind it and make something similar myself. Open source is always better. But for now, I'm a bit stumped... So if anyone has any ideas, here they come.
I have a great use of this indicator , developed here on futures IO . Velocity showes great turning points when one side become more aggressive. I wonder if some one can add a Sound option to this indicator . One for UP move and one for down move . …
Might also look at Jigsaw youtube videos, perhaps their features are what you're looking for.
Thank you. But this is not what I´m looking for. It is for volume bars, I need it for time based bars. And I need it for NT8, so Jigsaw is out of the game, too.
