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Re: Buy Sell Pressure indicator for MT4

TransparentTrader, Wed Feb 15, 2023 9:40 am

I re-read the official page for Fract's BSP indicator and I came across an interesting discussion on how Fract would recommend using it.

And here is a summary of what he had to say:

"It's like averaging the ATR: There is no point in exceeding the length above 60. I use a length of 24 in my strategy on the 1-hour timeframe"

In his instance, the length of 24 is for both moving averages and he is using EMAs.

If you are using this indicator on TradingView and you access the indicator's settings, you'll notice you have the option to display the indicator on a higher or lower timeframe relative to the current timeframe you are viewing:


What I imagine this means is that even when you are using any BSP in MTF mode, the recommended setting is nothing higher regardless of the higher timeframe you are using.

But as you guys saw a few posts ago, the rules change when it comes to Renko charts and so far I'm really liking a length of 100 for both averages and EMA for both moving average types. If I find better settings then you'll be the first to know!
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