FXCodeBase.COM: Forex Chart Indicators and Development

Based on request.
viewtopic.php?f=27&t=68861

Greetings Apprentice!
Thanks for dedicating the time to the indicator.
I've been busy,but I took time to review it.Here are my conclusions:
1)The indicator shows negative bid,negative ask.
2)The indicator shows more volume that it is counted.
3)The indicator seems to to do incorrect calculations.
Below you'll find the screenshots of the above and my calculations of the above examples in an excel sheet.
Should you need a full sample calculation of bid/ask vol,you ll find it below as well.
Thanks again!

Your request is added to the development list.
Development reference 91.

Greetings Apprentice!
Sorry for the delay,but I reviewed the indicator once again.
The problem that i came up mostly is that when the candle is bullish,it shows ask vol>bid vol and vice versa.
You can find my calculations vs what the indicator shows below and a screenshot.
Should the calculations be unclear here is the example:
Suppose I have a candle with
O:1.0887 H:1.08950
C:1.08928 L:1.08846 VOL:12836.
Step1:Get the range of the bar
=H-L
Step2:Get the body of the bar as % of the range
X=(C-O)/(H-L) (where X is expressed as % of total)
Step 3:Divide the VOL by (2-X) to get the bid volume.The difference between vol and bid vol=askvol.
Now,if i am correct,you did this:
Bid VOL=X * VOL,hence the incongruencies.I did upload an excel sheet with the wrong method of calculation,so pardon me for that.
Again,the you can compare the calculations in the sheet below.
Many thanks for your time and effort
Kind regards

Your request is added to the development list.
Development reference 144.

Try this version.

Greetings again
the indicator shows bid ask greater than the total volume
and it shows negative bid/negative ask as seen below.
I thank you for your time and effort devoted to this.again,please have a look at this logic on this:
1)Find the range of the bar
RANGE=HIGH-LOW
2)Find the % range (body of the bar in relation to the range)
%B=(CLOSE-OPEN)/((High-Low))
3)Division
Volume/(2 - %B) == bid volume
ask volume == volume - bid volume
I think the 3rd part is proving the most difficult.
I hope you hear me right and get it right
cheers and thanks again.

Try this version.


Indicator based strategy.
viewtopic.php?f=31&t=69042

YEP,that's brilliant.
Thank you very much for the time and effort!

Hi apprentice,
can you make a simple strategy with this indicator?

Buy: if bid> ask (end of turn / live)
Sell: if ask> bid (end of turn / live)

Thank you