I use the Bid/Ask Volume for entering my trades but it is quite time consuming to watch the numbers all the time over 8 pairs. It is a simple continuation strategy but it works pretty well for me.
To reduce time spending in front of my screens i though an alert can be very useful.
What i do is the following:
1) When the Day Cumulative AskV-BidV is positive i look for long trades with an entry below the actual price. Once i have found a good level i wait until the price has reached this level and my price alram goes off.
2) Then I watch the AskV-BidV of a 15min candle at this price and when the difference for this candle turns positive again (on close) i enter the trade in the foreseen direction. If not i wait for the next 15 min candle to close positive and so on.
So my question is: Does any know how i can create an alert for the following conditions:
if the Day Cumulative AskV - BidV is positive and the AskV-BidV turns from negative to positive i need an alert.
I believe this can be done with a simple alert condition but have no clue how to combine these two conditions.
And same for opposite direction :-)
Attached you find a screenshot to clarify what i mean. Here i have set a price alarm at 0.77 and entered the trade after the candle with the red circle. (The candle which touched 0.77 was still negative in closing)
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Add the Color Bar Based On Alert Condition study
Put this formula on the Alerts tab:
where ID1 is the Numbers Bars Calculated Values study; edit as needed.
Check 'Evaluate On Bar Close' and select your alert sound.
This will color the bar and give an audible alert.
If you don't want to color the bar, use the same formula on the Alerts tab of any study. (You don't need the color bar study).
The following user says Thank You to tomgilb for this post: