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Buyers / Sellers Information

  • #21
  • Jan 22, 2008 6:47pm Jan 22, 2008 6:47pm
Quoting M4X
Here is a picture of the indicator... How can I get that on my chart?

I want to see the Buys VS Sells in plain english...


thanks
Oh, I don't think Forexlion posted the exact indi. He just showed the math and coding for it... I will not code it, because it is not my indi and I feel like I would be violating his intellectual property... Sorry about my mis understanding.
  • #22
  • Jan 22, 2008 10:25pm Jan 22, 2008 10:25pm
I understand but if the Author can post it that would be great

thanks in advance!
M4X............ Hedging My Way To Profits!
  • #23
  • Jan 23, 2008 5:40am Jan 23, 2008 5:40am
Quoting M4X
I understand but if the Author can post it that would be great

thanks in advance!
double bullp = (iBullsPower(NULL, 0, 13,PRICE_CLOSE,0));
double bearp = (iBearsPower(NULL, 0, 13,PRICE_CLOSE,0));
double vol = iVolume(Symbol(),0,0);
double Buyers = (bullp * vol) / (bullp + bearp);
double Sellers = (bearp * vol) / (bullp + bearp);

string lbl[5], lbl2[5];
int n=30;
lbl[0] = "L1";
lbl2[0] = "Buyers: "+DoubleToStr(Buyers,0);
lbl[1] = "L2";
lbl2[1] = "Sellers: "+DoubleToStr(Sellers,0);
lbl[2] = "L3";
double pwr;
if (Buyers > Sellers) {pwr = Buyers / Sellers;}
if (Buyers < Sellers) {pwr = Sellers / Buyers;}
lbl2[2] = "Power: "+DoubleToStr(pwr,0);
lbl[3] = "L4";
lbl2[3] = "Margin Used: "+DoubleToStr((AccountMargin()/AccountEquity())*100,2)+"%";

for (int u=0;u<ArraySize(lbl);u++)
{
ObjectCreate(lbl[u],23,0,Time,PRICE_CLOSE);
ObjectSet(lbl[u],OBJPROP_XDISTANCE,1);
ObjectSet(lbl[u],OBJPROP_YDISTANCE,n);
ObjectSetText(lbl[u],lbl2[u],18,"Arial",Green);
n = n+30;
}
  • #24
  • Jan 23, 2008 5:56am Jan 23, 2008 5:56am
Ok, so now that he has posted the entire code, here it is as Mq4, giving credit to ForexLion of course
Attached File(s)
File Type: mq4 Buyers and Sellers.mq4   2 KB | 3,282 downloads
  • #25
  • Jan 23, 2008 4:17pm Jan 23, 2008 4:17pm
Thanks
Now I just need to learn how to apply it to trading...

Thanks again ForexLion and smjones for all your help!
M4X............ Hedging My Way To Profits!
  • #26
  • Jan 24, 2008 9:40am Jan 24, 2008 9:40am
Quoting smjones
as far as plain english, here is investopedia's explanation. I really cannot improve on it. http://www.investopedia.com/articles/trading/03/022603.asp
i read the article but didnt see anything about volume. so i take it this inidicator is an expansion of Elder's indicator?
Relax and be happy.
  • #27
  • Jan 24, 2008 10:43am Jan 24, 2008 10:43am
Quoting merlin
i read the article but didnt see anything about volume. so i take it this inidicator is an expansion of Elder's indicator?
Yes, I think it uses a ratio of the bullspower and the bearspower and tick volume to come to the conclusions that ForexLion arrives at. I really do not know much about his indicator other than the math. I think I will look at it closer this weekend. The main thing I see is the same as others have said and that is that the tick volume and the bullspower and bearspower are based on the indivdividual broker's client base. So at best I would think it only applies to that broker. Being a MT4 broker, one would think that there is very little depth in the ratios. But I think I will look closer at it to see for myself.

In any event, it is a very ingenious idea and I think the concept has merit, if one can improve on the depth of the customer base. Congrats on the concept ForexLion.
  • #28
  • Jan 25, 2008 5:54am Jan 25, 2008 5:54am
Thanks smjones

Here is something wild data over the past 5 ticks, current first

ObjectsDeleteAll();
double blp[5], bbp[5], b[5], s[5],v[5];
string by, sy;
for (int i=0;i<ArraySize(blp);i++)
{
blp[i] = iBullsPower(NULL, 0, 13,PRICE_CLOSE,i);
bbp[i] = iBearsPower(NULL, 0, 13,PRICE_CLOSE,i);
v[i] = iVolume(Symbol(),0,i);
b[i] = ( blp[i] * v[i] ) / ( blp[i] + bbp[i] );
s[i] = ( bbp[i] * v[i] ) / ( blp[i] + bbp[i] );
}

for (i=0;i<ArraySize(blp);i++)
{
by = by + DoubleToStr(b[i],0) + " | ";
sy = sy + DoubleToStr(s[i],0) + " | ";
}

ObjectCreate("L1",23,0,Time,PRICE_CLOSE);
ObjectSet("L1",OBJPROP_XDISTANCE,1);
ObjectSet("L1",OBJPROP_YDISTANCE,30);
ObjectSetText("L1","Buyers : " + by,18,"Arial",Green);

ObjectCreate("L2",23,0,Time,PRICE_CLOSE);
ObjectSet("L2",OBJPROP_XDISTANCE,1);
ObjectSet("L2",OBJPROP_YDISTANCE,60);
ObjectSetText("L2","Sellers : " + sy,18,"Arial",Green);
  • #29
  • Jan 29, 2008 9:44pm Jan 29, 2008 9:44pm
This indicator is not meant for trading as such, but just to analyze the strength of the trend.

For actual trading I depend on weekly fibonacci ratios.

So, use it just as a reference only.
  • #30
  • Dec 2, 2009 9:37am Dec 2, 2009 9:37am
Quoting forexlion
At 1.2 Million Sellers on GJ this is what I call real trend power.

GJ literally crashed nose first.

WOW
this was my million dollar post

GJ just crasssssssssssssssssssssssssssshed
  • #31
  • Jan 8, 2010 7:15am Jan 8, 2010 7:15am
Quoting forexlion
this was my million dollar post

GJ just crasssssssssssssssssssssssssssshed
Hi,
anybody can explain me how works the bullers and sellers indicator?.
Some times I see positive values, other times negatives...
How can I interpret the power value?
Thanks
Knowledge is possessed only if is shared
  • #32
  • Jan 26, 2010 12:10pm Jan 26, 2010 12:10pm
Quoting forexlion
Buyers = [ BullsPower * Volume ] / [ BullsPower + BearsPower ]

Sellers = [ BearsPower * Volume ] / [ BullsPower + BearsPower ]
I really didn't understand how this formula gives us anything related to buyers or sellers.

The Bullspower indicator is calculated as follows: An EMA, preferably 13, is taken. Then the difference between high of each candle to EMA(13) is calculated and Bullspower is found. Similar algorithm for Bearspower, except the lows of each candle are used.

So, the Bullspower and Bearspower are just the differences of a candle's high or low from EMA(13). When I look at the equation, all the components in it are just differences of price from its own EMA and volume. How comes such an equation give us the amount of buyers or sellers in the market? Am I missing something obvious here?
  • #33
  • Feb 2, 2010 1:29am Feb 2, 2010 1:29am
hi lion just wondering which name you use on zulu now i can find 3 but 2 are in loss and one has DD of 3 million pips?

Which one should i use?

Thanks for help
Making money is easy keeping it is harder
  • #34
  • Nov 24, 2011 10:51pm Nov 24, 2011 10:51pm
here is the buyer and seller histogram indic, thx to lion
Attached File(s)
File Type: ex4 Buyers sellers.ex4   2 KB | 1,626 downloads
  • #35
  • Nov 25, 2011 12:36am Nov 25, 2011 12:36am
Quoting shahrooz67
here is the buyer and seller histogram indic, thx to lion
looks good,can u convert it to numbers?
Trade responsiblypatience is the key/Swing trader
  • #36
  • Nov 25, 2011 8:03am Nov 25, 2011 8:03am
Quoting Incrediblle
looks good,can u convert it to numbers?

But what you mean by the numbers ?!
this kinds of indics wont give u a clear look, to build a strategy on, i believe !
  • #37
  • Jan 8, 2012 11:55am Jan 8, 2012 11:55am
Quoting forexlion
Many people here have asked me where I get the Buyers and Sellers information on the MT4 platform similiar to the COT analysis.

I felt that instead of answering 1 pm at a time, why not just make 1 post on the trading room and answer questions directly on the forums.

The information is collected using the following piece of code.


double bullp = MathAbs(iBullsPower(NULL, 0, 13,PRICE_CLOSE,0));
double bearp = MathAbs(iBearsPower(NULL, 0, 13,PRICE_CLOSE,0));
double vol = iVolume(Symbol(),0,0);
double Buyers = (bullp * vol)...
Totally wrong, no way to calculate volume in an unregulated market like forex.
  • #38
  • Feb 25, 2012 12:59pm Feb 25, 2012 12:59pm
Quoting AmeriTrini
Totally wrong, no way to calculate volume in an unregulated market like forex.

you are right
  • #39
  • Jan 21, 2013 10:05pm Jan 21, 2013 10:05pm
i think it is wrong

because volume in mt 4 is tick volume

and bulls power is moving aveagre with cycle: 14

cycle is 14 ,volume is daily

it is not logic
  • #40
  • Mar 11, 2017 1:32am Mar 11, 2017 1:32am
Quoting forexlion
Many people here have asked me where I get the Buyers and Sellers information on the MT4 platform similiar to the COT analysis. I felt that instead of answering 1 pm at a time, why not just make 1 post on the trading room and answer questions directly on the forums. The information is collected using the following piece of code. double bullp = MathAbs(iBullsPower(NULL, 0, 13,PRICE_CLOSE,0)); double bearp = MathAbs(iBearsPower(NULL, 0, 13,PRICE_CLOSE,0)); double vol = iVolume(Symbol(),0,0); double Buyers = (bullp * vol) / (bullp + bearp); double...
Hi Forexlion?

Can u change it the formula to this please. Make it display only percentage display for both.

%Buyers = (current price - lowest low) / (highest high - lowest low)

%Sellers = (highest high - current price) / (highest high - lowest low)

Thanks in advanced.
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