Re: Buyers and Sellers (or Bid and Ask)

[editorial@xxxxxxxxxxxxx]

-- Kent wrote: 

> There is a daytrading (as in SOES) technique that
> uses logic similar to this.  The daytrader will setup
> a small quote window with a 5 or 6 stocks of the same
> industry like networking, PC makers or trading
> software vendors.
> The row for each company will flash green on upticks
> and red on downticks.  By setting up several of these
> quote windows, the trader can quickly notice when an
> industry is moving if there is a lot of activity of
> one color or the other.  I believe it is used
> primarily by scalpers going for fractional points.


This is one of the few types of studies that RadarScreen is useful for.  

Here's a little paintbar for TS2000i that paints the bars which breakout from an inside day range.  Note:  in this study the breakout need not occur on the bar after the ID bar.  The breakout could be several bars later...



Var:

HLev(0),
LLev(0),
ID(FALSE);
	

If H < H[1] and L > L[1] then begin
	
	HLev = H[1];
	LLev = L[1];
	ID = TRUE;

End;


If ID and H crosses above HLev or L crosses below LLev then begin
	
	ID = FALSE;
	If H > HLev then PlotPaintBar(H, L, "Breakout", Green)
        Else PlotPaintBar(H, L, "Breakout", Red);
    
End;