Hello, guys. Been a while. I've been trading for a while through VSA and I had an idea for a new indior. It would make my life easier to find out what I figure out in my. It helps speed up chart analysis. It is actually based on a pair of indiors that I use. This is far beyond me while I am not ignorant of metastock speech.
The idea is to detect areas of congestion and price manipulation. Lots of trading, but maybe not a lot of movement. This can help ascertain places of support/resistance, market sentiment, etc..
The first thing we'll want is a histogram of this spread/volume. Included in this post is an indior which does that. The Shmeno resistance indy is customizable to figure the minus the non as well as the spread as the open minus the near. It can also figure out the volume/spread or spread/volume. It is pretty useful and can be tell-tale when actual volume is taken into account.
The next element would be a moving average of this spread/volume ratio. Base period: 14. This is pretty simple and should be plotted on the chart.
As well as the last element is coloring the pubs based on quite low, low, normal, high, very high and ultra high numbers. These can be defined from the pubs' percentages above or below the moving average. By way of example, Very could be gt;25 percent of average. In order to simplify all this, I have also included the Better Volume indy since many of the elements I am searching for are contained inside and it can give insight on how this could be carried out. It is not the best and doesn't paint all the pubs correctly, so this should be a guide only.
If anyone believes they can swing that, I sure will love it. In the mean time, I will keep trying to learn how to code so I can make it myself. If I ever get this figured out, I will make certain to discuss it here. Thanks a lot guys!
https://www.forexsoutheast.asia/atta...1760128157.mq4
https://www.forexsoutheast.asia/atta...2085451848.mq4