New script in FXApps: [Indicator] Bearish and Bullish TickVolume

Posted By Admin Friday, April 25, 2014
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New script in FXApps: [Indicator] Bearish and Bullish TickVolume

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 Posted Friday, April 25, 2014

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Bearish and Bullish TickVolume

The indicator is another version of TickVolume indicator that allows separating the movements on both bearish and bullish directions.

So if the current tick price is higher than the previous one, then current Bullish volume is increased; if not, then current Bearish volume is increased.
The Bullish and Bearish values are shown simultaneously: the Bullish value is shown as the positive volume, the Bearish as the negative volume.

The indicator allows switching the type of tick feed from Bid to Ask by means of the corresponding settings.

  • Because “Bearish and Bullish TickVolume” is calculated based on the current price flow data, each recalculation (changing instrument, timeframe or indicator settings) leads to restart of the indicator calculation – previously collected data will be erased. So before using the indicator, please make sure that you will not need to change the chart or any parameters of the indicators used on it.
  • “TickVolume” and “Bearish and Bullish TickVolume” indicators can show different results. The reason is that “TickVolume” indicator is calculated on server and observes all incoming ticks. “Bearish and Bullish TickVolume” indicator is calculated “on-the-fly” and operates only with the ticks displayed on ActTrader chart. Some of the ticks can be omitted, but general ratio corresponds to the real situation and can be used in technical analysis.

Best regards

-ACTFX© Forum Administrator
Friday, April 25, 2014 by Admin

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