Tweet
The EFS script attached below contains some good ideas, I think. However, my programming is pretty primitive and it's almost certain that those ideas could be better implemented by someone who really knows what they're doing.
The basic idea here is to track ticks, but do so within a longer time frame, such as a 2 or 5 minute bar. My experience is that it's useful to be able to assess the current buying and selling forces while a bar is being formed. The script then keeps this information for recent bars and reports it to the screen.
There are at least two problems with this script as currently written. First, it sometimes resets itself and loses its prior data, leaving the user uninformed about the internal strength of recent bars. Second, there are probably smarter ways to get an approximation of buying and selling pressure than comparing the close of the new tick with the close of the previous tick and using that information to decide which variable to increment -- the red/down or the lime/up.
Any thoughts on these issues would be appreciated.
Steve
The basic idea here is to track ticks, but do so within a longer time frame, such as a 2 or 5 minute bar. My experience is that it's useful to be able to assess the current buying and selling forces while a bar is being formed. The script then keeps this information for recent bars and reports it to the screen.
There are at least two problems with this script as currently written. First, it sometimes resets itself and loses its prior data, leaving the user uninformed about the internal strength of recent bars. Second, there are probably smarter ways to get an approximation of buying and selling pressure than comparing the close of the new tick with the close of the previous tick and using that information to decide which variable to increment -- the red/down or the lime/up.
Any thoughts on these issues would be appreciated.
Steve
Comment