Tape Tweet - audible alerts for buying & selling pressure
I've been a long time subscriber of Pivot Farm, even though I have to admit I have not been using their S/R levels in a long time (I prefer to draw my own). But I will say that their levels are pretty good, I've seen price stop at them to the tick more times than I can count. So if you're not drawing your own S/R lines you can give theirs a try.
But the point of this post is they have a new chatroom called Tape Tweet and they have an audio sound for when there is buying & selling pressure. I kind of like it. I don't use it for my trading decisions, but when I'm surfing or otherwise not paying attention and it starts the audio alerts, I know to pay attention.
So far it works for ES, not sure if they will add more. And it's free.
I really like their S/R and here's why. They are based on confluence and that's why they work IMO. When you have some many eyes keyed in on an area of S/R rather than a single line so much the better. I especially like their volume extreme levels. Their tape tweat too much lag .
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First post here so I thought I would make it meaningful....
Been following his levels from elitetrader and now PivotFarm and you are correct, they are very reliable. Most times price will either stop, turn, or pause at his levels, but other times blast right through. Pure support/resistance and confluence is better than 99% of any indicator you can place on your charts.
Which brings me to the reason of my post. I had an indicator coded to use with his levels, however you can use your own levels too. This indicator has 15 available paired inputs which will shade the area between the numbers you input. Much easier than manually drawing boxes like I had been doing.
The lower the opacity value; the more see through the box.
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Thanks for sharing your indicator. This is a great idea.
Lately i've been trading CL exclusively, I hope he'll add CL some time.
For your indicator, the next step is to get the pivot values automatically from the internet. Maybe parse the PDF? I think he should collaborate in developing such an indicator. Maybe he'd work with you to do it? It'd get him some more exposure.
Someone did something similar with ForexFactory's news, it's in the download section, jtEcoNews. But Forex was nice, they have an XML feed. So it requires some cooperation from the data source. If pivot farm published an XML feed that would be awesome. Just brainstorming here..
I had already approached him about data formats and he is happy to provide the spreadsheet or any other format he is capable of producing. Not sure if he has the know how to produce an xml feed or not.
He was very open to the idea though. I had approached a programmer who said importing out of excel was easily doable in NT but he wanted 500$ to do it which I thought was a bit much for the 2 minutes/day it takes me to put them in manually.
My nick is a misnomer to some, I'm an engineer by profession and not a programmer (two completely different mindsets....) so I didn't dare tackle it.
If anyone would like to continue looking into it I'm happy to help. I have run vbforums for other sites, hosted sites and done some other custom alerting setups for other trading sites but that's the extent of my talents.
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