period converter concept from MBT data

Since MBT is providing data in mt4 I have had a concept rolling around in my head for days.
using a period converter script much like the commercial range bars script to generate a new tick chart, it gets a little more advanced than that, because with each tick the bid or ask changes not necesarily both. this would require a second script to change what our bars look like.

if the tick creates a lower bid and lower ask color the bar color #1
if the tick creates a higher bid and higher ask color the bar color #2
if the tick creates a higher bid and lower ask color the bar color #3
if the tick creates a lower bid and higher ask color the bar color #4
if the tick creates a lower bid only color the bar color #5
if the tick creates a higher bid only color the bar color #6
if the tick creates a lower ask only color the bar color #7
if the tick creates a higher ask only color the bar color #8

i'm not a scalper nor a mql coder by nature but this atleastes interests me. maybe even as a momentum script at the very least.

as it is you will have two charts open, one chart with the modified period converter script to generate the bars, and the second (offline)chart with the colorizer script to analyze the results in real time.

feel free to chat/comment/code...

I like this concept.. it would be able to give a good picture of the real price action. I would suggest using different shades of the bullish and bearish colors to indicate the sentiment...

http://www.ircforex.com/5815-post2

http://www.ircforex.com/indicators/5...-data#post5817

now I just need to make a colorizer script. which unless there is another one to modify easily will be a bit more of a task

well i igot it all coded up, I am a complete novice but its atleast something interesting to look at