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OK, so it seems to me that the best moves on an intraday time frame are preceded by stop runs. Most indicators give the opposite signals (do not go long or go short) say when price dips below a previous swing in an uptrend then turns positive. Anyone know if there's an indicator that spots this?
Thanks in advanced,
moneypenny
Can you help answer these questions from other members on NexusFi?
If you use a fixed range chart, and calculate (bid volume - ask volume)/total volume. The closer to 1 or -1 it reads the more one sided the move was, which is what happens when stops get hit.
Thanks for the replies addchild and wildman. Since I'm not a programmer, I'll have to see what I can 'scrounge' up addchild. Thanks s much for the idea!!
moneypenny
addchild - I have a volume delta histogram from Ninjacators which gives the delta for actual transactions rather than bids/asks. Do you think that would work?
moneypenny
it should look something like this
subgraph 1 = volume
subgraph 2 = bid volume + ask volume (this should be the same as volume)
subgraph 3 = bid volume - ask volume
and finally what I was referring to,
subgraph 4 = (bid volume - ask volume) / (bid volume + ask volume)
