No Demand Indicator

   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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Tanaka Members Profile Send Private Message Find Members Posts Add to Buddy List Newbie Joined: 08 Jul 2010 Posts: 18	Post Options Post Reply Quote Tanaka Report Post Quote Reply Topic: No Demand Indicator 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.

maximo Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 02 Sep 2006 Location: Australia Posts: 232	Post Options Post Reply Quote maximo Report Post Quote Reply 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. [Description="No Demand Indicator, http://emini-watch.com/volume-based-patterns-the-no-demand-pattern/174/ "] [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

Tanaka Members Profile Send Private Message Find Members Posts Add to Buddy List Newbie Joined: 08 Jul 2010 Posts: 18	Post Options Post Reply Quote Tanaka Report Post Quote Reply 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.