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Volume Up-DownTicks per minute standarized

This is an indicator I've developed myself to get a better view of the UpTicks (ticks with a price higher than the preceding tick) and DownTicks (ticks with a price lower than the preceding tick).

Some features from this indicator:

It plots the UpTicks minus DownTicks to get an idea of the buying pressure;
This is divided by the time it took to form a bar, so that on tick and point charts you'll get an truer picture of the volume;
This buying pressure per minute is divided by the standard deviation, which helps to identify little shifts in buying pressure that would normally get lost. (This also means that any buying pressure below or above a certain number of standard deviations can be seen as significant volume).

Especially these extreme values (which are signalled in yellow) are of importance to the trader. As an interpretation tip: also look at the price action of the bar after the extreme buying or selling pressure to get an idea of where the price might go to. So, combine it with regular price action and look at the trend in the histogram.

Category MultiCharts

Details: Volume Up-DownTicks per minute standarized
Category: MultiCharts

February 8th, 2012
Size: 9.09 KB
Downloaded: 718 times

Keywords: buysellpressure priceaction volume

Comments/ratings

Serger February 9th, 2012 11:55 AM

Thank you for sharing ...

dilbert618 March 27th, 2012 08:56 AM

Great idea, Thank you.

sptrader July 18th, 2012 11:03 PM

very nice- great idea

tung66622 May 6th, 2013 06:38 AM

Thank you very much!!!

hamstrus July 23rd, 2013 06:42 PM

Thanks a bunch! I was looking into making something similar myself so I am eager to use this one.

mani4kannan December 20th, 2017 04:31 AM

Al3cs April 13th, 2018 10:01 AM

Nice work, thank you