TransparentTrader wrote: Thu Feb 09, 2023 6:11 am Just a heads up about the "Buying and Selling Pressure" indicator I've talked about here (V1) and here (V2).
Good news! Three hours after I sent a message to fract, the TradingView user who created the "Buying and Selling Pressure" indicator, he was kind enough to reply to me and say the following:
For the Buying Pressure (BP):
Green candle = body of the candle + lower wick of the candle Red candle = just the lower wick of the candleFor the Selling Pressure (SP):
Green candle = just the upper wick of the candle Red candle = upper wick of the candle + body of the candleBefore, I had this idiotic idea of taking away the wicks to make the indicator focused on just body candles, but since bullish and bearish candles alternate randomly, it's the wrong thing to do. Especially when I averaged them to output with ema.
Here's the difference between the two:
BSP on the top sub-window considers wicks into the equation, while BSP on the bottom sub-window does not.
Taking this into consideration, you can see the wicks make the signal go faster. I was really silly to eliminate wicks from the code. For BSP, the wicks are an important piece of data.
Finally, about your question of tracking: Tracking means the horizontal line with which we can relate current values to history levels.
