Hi everyone,
I use system called Tom DeMark Trend lines.
Before I look for potential trade set up I need to measure the buying/selling pressure.So to calculate the buying pressure I take the low of a bar and the close of the bar. Say it closed at 1.42031 and the low was 1.41993. I take the difference, and add that to the close. 1.42031-1.41993 = .00038. 1.42031 + .00038 = 1.42069. So I have 1.42069 as my “buying pressure” value. If the “buying pressure” value is above the trendline, then I do not take the trade, as, theoretically, the buying momentum has been “exhausted before the penetration of a TD line.” Similarly, if the buying pressure is below the TL, then I watch for an opportunity of a trendline break.
Can anyone create an indicator as follows:
Only the previous bar has to be used for the "calculation"
-> Buying pressure line calculation: (when Buying pressure is above TDLine = buying momentum is exhausted)
For the long position (Supply line): "Previous bar close + value of (Previous bar close - Previous bar Low)"
-> Selling pressure line calculation: (when Selling pressure is below TDLine = selling momentums is exhausted)
For the short position (Demand line): "Previous bar close + value of (Previous bar close - Previous bar High)"
I will apreciate if someone can code it for me pls and if you interested in the system I use here is the link http://forex-strategies-revealed.com...ark-trendlines
And here is the example of the chart with TD lines and buying pressure line, I trade many pairs so this indi would really help me.
Thank you
HankT
I use system called Tom DeMark Trend lines.
Before I look for potential trade set up I need to measure the buying/selling pressure.So to calculate the buying pressure I take the low of a bar and the close of the bar. Say it closed at 1.42031 and the low was 1.41993. I take the difference, and add that to the close. 1.42031-1.41993 = .00038. 1.42031 + .00038 = 1.42069. So I have 1.42069 as my “buying pressure” value. If the “buying pressure” value is above the trendline, then I do not take the trade, as, theoretically, the buying momentum has been “exhausted before the penetration of a TD line.” Similarly, if the buying pressure is below the TL, then I watch for an opportunity of a trendline break.
Can anyone create an indicator as follows:
Only the previous bar has to be used for the "calculation"
-> Buying pressure line calculation: (when Buying pressure is above TDLine = buying momentum is exhausted)
For the long position (Supply line): "Previous bar close + value of (Previous bar close - Previous bar Low)"
-> Selling pressure line calculation: (when Selling pressure is below TDLine = selling momentums is exhausted)
For the short position (Demand line): "Previous bar close + value of (Previous bar close - Previous bar High)"
I will apreciate if someone can code it for me pls and if you interested in the system I use here is the link http://forex-strategies-revealed.com...ark-trendlines
And here is the example of the chart with TD lines and buying pressure line, I trade many pairs so this indi would really help me.
Thank you
HankT
