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No Demand Indicator

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Tanaka View Drop Down
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Joined: 08 Jul 2010
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Post Options Post Options   Quote Tanaka Quote  Post ReplyReply Direct Link To This Post Topic: No Demand Indicator
    Posted: 05 Apr 2011 at 1:34am
Once again thank you very much maximo!

I love the ideas behind demand and supply, this should work well with other price/volume analysis. Like you say it will be beneficial when there are no other signals.
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maximo View Drop Down
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Joined: 02 Sep 2006
Location: Australia
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Post Options Post Options   Quote maximo Quote  Post ReplyReply Direct Link To This Post Posted: 04 Apr 2011 at 5:19pm
Hiya,
 
Thanks Tanaka, this logic has a statistical edge.  Particularly when there has been no signal for many bars.  A smaller risk for larger reward could be part of a trading plan for this simple signal. 
 

[target=price]

Range:=H-L;

NoD:= H > ref(H,-1) and H > ref(H,-2) and V < ref(V,-1) and V < ref(V,-2) and (Range < ref(Range,-1) or Range < ref(Range,-2));

[linestyle=marker; marker=type2; name=NoD]

NoD



Edited by maximo - 04 Apr 2011 at 5:30pm
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Tanaka View Drop Down
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Post Options Post Options   Quote Tanaka Quote  Post ReplyReply Direct Link To This Post Posted: 31 Mar 2011 at 10:34pm
Anyone able to help with this one. The 'No Demand Indicator' could be helpful at identifying demand. Same author as the 'Better Volume Indicator'. Code is for TradeStation:

 H > H[1] and H > H[2] and V < V[1] and V < V[2] and (Range < Range[1] or Range < Range[2])

More details regarding this indicator can be found at http://emini-watch.com/volume-based-patterns-the-no-demand-pattern/174/

It would be great to apply this to BullCharts.

Thanks for any help,

Tanaka.
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