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I'm looking for an indicator which could show me when larger than normal volume (sellers or buyers) are coming in at a specific point. I've been watching the order flow and tend to see that when it starts speeding up or the bigger orders start coming in the bigger moves happen. I like to use this as confirmation for trades. Has anyone heard of an indicator which could plot something like this?
I'd love to see somethign either plot some sort of symbol when 'bigger players' start getting more aggressive with their buying or selling. Some sort of noise alert like a 'click' would be very cool as well.
Is this possible? Useless?
Any feedback appreciated!
Can you help answer these questions from other members on NexusFi?
Yes I've looked into cumultive delta in the past and you're right, this is probably my best bet. I would really like some sort of sound indication when orders keep piling in hard. Maybe I should use a combination of cumulitive delta and the indicator which was posted recently which plots dots according to size and figure out how to add sounds to these dots? I'll figure it out.
Can someone explain to me how to add an indicator (for example the dot plotting one) when it's in a .cht file? I was struggling to open it.
There is an indicator around called price squawk. (google it)
Not sure if you work with Jigsaw...? but Jigsaw priceladder has this sort of "price tones" built in, (but i have never tried it...)
Jigsaw also has the "block buy" "block sell" sound on amounts you can set yourself.
Some suggestions :
1. The Bar Time Duration Study. This will show when a bar( eg a range, tick or volume bar) has printed faster than previous bars.You can put a MA on it also, and set an alert when a bar prints a lot faster than the average. This shows increased market activity/velocity.
2. There is a "click " study created by a user :
I am hopeful someone could code an indicator for Sierra that will sound an alert every 'x' ticks, where x is a range. For example, I can apply this indicator to my ES 100,000 volume chart and set it to sound an alert every 4 ticks …
I've used it and it works well. But you might have to create a sound file that is very brief so the clicks don't delay.
3. Volume Dots. 2 user-created studies to show where bigger volume is hitting the ask/bid :
This is a feature of Bookmap and I'd like to have something like it on my charts. I'm guessing it's configurable using existing Sierra studies, but I don't know how. Any suggestions appreciated.
Here's how Bookmap describes it …
and this one is a "heatmap" that includes volume dots :
I have been a member of this forum for a few years now. Few weeks ago I've joined stage 5 and realized the BookMap is very popular over there.
gave me the idea for the version I have developed. I am enclosing the .dll and an example chart book …
Also, to use a .cht file : Move it the Data Folder ---- This PC>OS(C:)>SierraChart>Data
Then it will show up in the list of Chartbooks --- File>Open Chartbook
Lol - I'm glad it looked that professional because it is not really one Study.
When I read back on the Pace of Tape stuff, especially cunparis description of his NT indicator which is still on his web site (picture attached), I understood that …
You could add audio alerts to the threshold component (exceeding SMA by 100 or 200% etc).
There is also a User Contributed Study that is NOT included in the SC software that measures # of Trades/Time ie how many Trades per Second occurred in that bar - so useful on a non time based chart, but can also be used on a Time based chart to give you a measure of 'Rate' ie trades per second as opposed to the standard Bar Time Duration Study.
hi there @steve2222 just came across your post. Thanks for sharing. Do you happen to use the sot.dll
Am not a Sierra Chart user. But wondering if you might be able to share some charts if you are using and found the sot.dll useful. I did go over your Pace of Tape which is interesting.
Not using sot.dll anymore. I had it on my charts for a few months to monitor if I could get anything useful from it, but it really did not had anything for my style of trading. It has been gone from my charts for some time now.
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