Tks TJ for your replies, now I'll try to be more clear:
I apreciate the effort many MC/TS users and EL programmers made in threads like:
http://www.traderslaboratory.com/forums ... -5824.html and others
but I think that if we want to find something really useful for trading purpose we need to create/use indicator that represent significative and unquestionable datas. Having those datas each of us can make assumptions in order to make trading decisions.
I am interested in Volume
Delta and CVD because they are unquestionable datas, then each of us can use it or ignore in his trading decisions.
I'm sure everyone here knows the exact meaning of these 2 indicators but to be more clear:
DELTA VOLUME: it is the difference between volume traded at bid and volume traded at ask in a definite time frame (es 1min 5min and so on)
CVD: The cumulative volume
delta is the algebraical sum of the single
delta volume values
In the thread above and others beside adding other things like filters and assumptions about dumb traders (little) and big traders, the basic fault IMHO that invalidate all the reasoning is that is used the tick volume instead of the real volume ad bid and volume at ask.
Also in MC prebuild indicators we have Volume up and Volume dn, that are only uptick or downtick, they don't consider the real volume at bid or volume at ask.
An uptick can be made by a 1ctr or by 2000ctr that's not definitely the same thing.
By the way what I'm telling now is, I'm not a programmer but just a trader but in Multichart we have:
- the possibility to plot the bid and the ask historically
- the possibility to have a tick by tick "last trade" with volume
I would really apreciate an imput from EL programmers and also from TS SUPPORT TEAM.
good trading to everyone
R.