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Astute observation, would you please tell me which indicator you use to monitor the buy/sell % of the volume bars?
I know the Buy Sell Pessure Indicator will do the job.
TIA,
RF
Can you help answer these questions from other members on NexusFi?
Buy Sell pressure does not get the correct volume amount. If you compare that one with Volume Up Down and Cory's indicator you will see the difference.
@kavklov the buy/sell volume color comes from this code;
it just colors volume red or lime depending on whether price bar close >= open or close < open
the volume color will change when price bar is still forming.
I had this indi and it does not do what I want.
Take a look in the DAX print screen
Box 1: I am using Buy Sell Volume, even though it does not compute all the volume correctly. You can notice that the buy sell volume indi has a 460 bar, in which 268 (58%) sell and 192 (42%) buy. Even though there is more sell the Volume up down shows a green bar.
Box 2: Buy sell volume indi has a 324 bar, in which 215 (67%) sell and 195 (33%) buy. So the sell ratio is > 60%
The Volume up down bar is red and the price went down.
Box 3: Buy sell volume indi has a 181 bar, in which 57 (33%) sell and 124 (67%) buy. Your indi gave alert and Volume up down was green.
So this is the ideal situation. Buy / sell ratio > 60% (if you could change this setting it will be good) and your indi gave the alert.
Basically I think we need an indi that will get the correct amount of volume from the instrument, calculate the buy /sell ratio and give an alert. A bonus would be to have an option to increase ratio from 60% to 65%, 70% and so on.
Thanks a lot