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Date/Time: Sun, 12 May 2024 11:28:14 +0000

Post From: large volume trade indicator scaling

[2017-02-24 08:15:07] Link To Thread - Link To Post [Go To First Post]
User19165 - Posts: 346
Yeah, obviously, there's many ways. Please be more specific in how you propose to implement this? As I have mentioned in a different thread. My approach of programming this for a different platform was to set a minimum volume threshold in the inputs. I would then put every volume >= to that amount into a FIFO stack of the last 20 large volume trades. From there, I would create an average of the last 20 large volume trades to use as a baseline. I would then size circles based on their ratio above that baseline. Another more simple approach is that the tool can rely on the user creating their own baseline. For example, I only day trade the DAX in the European morning. I know that in the last 5 days for the first 2 hours of the cash session, > 4.58 lots is > 2SD of every trade that happens between 0900:01 - 1100. So I could set the lot size to 5 and then the dots could be sized just on their ratio above my specified lot size. These are just a couple of ideas, there are more ways, I'm sure. .................... Hi Sierra, Please reconsider that approach. I am using this indicator on a 1 tick chart as a way to read the tape visually. Any concept like this of a "bar" will be useless for me. Please treat it as a tick stream in some way, that way it will be universal on any chart timeframe, won't it?