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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 …
I posted that in this thread because it sounds familar to Pat's indicator analyzing the trade intensity, buying/selling, etc.
I think tape tweet is interesting because I can't watch price non-stop, my mind wonders and I ended up posting a message here.. when it starts beeping then I look at the chart right away.
I'm just playing with it for now, not sure it's useful for more than that.
Trying to get my head around some things like this,
"We feel that the bid/asked approach to designating buying or selling volume is flawed in several ways."
"To demonstrate one of those flaws, please consider the situation where a very large buyer places a limit order at the current asked price - the order is larger than the asked size so he is partially filled at the asked and as the order took all the asked size the asked moves up and so does the bid. Now the remainder of this large buyer's order is on the bid and trade that fills this large buyer, on his bid, is recorded as selling volume. "
"Thankfully there are intelligent agents capable of sorting all this."
Does anyone know what " intelligent agents" means??