Hi all
I’m new to Prorealtime/Prorealcode. So far very impressive. One valuable indicator that appears to be missing is a visual representation of volume at the bid and ask price in real time (note, I’m not referring to a normal T&S/Tick indicator). It’s especially useful for day trading and gives a strong view of demand/supply imbalance.
Basically, the indicator charts all the volume traded at the ask and all the volume traded at the bid for each candle/time period. So essentially, total volumes traded at the Ask are shown as an up bar and total volumes traded at the Bid are shown as a down bar for each candle/time period. More volume traded at the Ask=more demand and more traded at the Bid=more supply.
The YouTube video link explains what I’m talking about: https://www.youtube.com/watch?v=2lIObt3AGOM
Screenshot below:
An alternative to this is to colour code each volume bar for a time period so that volume on the Ask is is green and volume on the bid is in red as per the screenshot below:
As this is a daytrading tool, it needs to happen in real time. Any thoughts/ideas should be appreciated.
Thanks
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