Centaur wrote: Mon Feb 13, 2023 6:45 am I have a tendency to rather agree with the calcs by Tradernawab, any comments?

What exactly do you mean when you say you agree with the calculations? Do you mean to say his indicator provides the best results compared to the other two?

I'll also need to ask mrtools or Jimmy about this indicator since I was under the assumption that the math being used for the TradingView version and the MT4 version was identical.

TransparentTrader wrote: Mon Feb 13, 2023 10:39 am What exactly do you mean when you say you agree with the calculations? Do you mean to say his indicator provides the best results compared to the other two?

I'll also need to ask mrtools or Jimmy about this indicator since I was under the assumption that the math being used for the TradingView version and the MT4 version was identical.

What I mean by my statement is, you only compare a single current price value to a previous benchmark, you do not use any other current value to define or optimize the benchmark.

Looking at Tradernawab calcs and his results you'll notice it has a bar or two delay before reacting to the change in short term trend.

A more responsive calc will be:

Buy Pressure = EMA(close[0] - ((high[1]+low[1])/2), n)
Sell Pressure = EMA(((high[1]+low[1])/2) - close[0], n)

and the above close can be any price derivative.

The reason for the mid range is one cannot ignore the wicks / shadows of the price movement, this represent the exact center of the price movement for the previous bar. Then comparing a single current price to this range. Just my thoughts...

Buy Sell Pressure (BSP)

Lets name the calcs as follows, I'll write them all and will share the screen shots, and we vote on the one that seems most accurate.

Calc1: version by Tradernawab:
Buy Pressure = EMA(close[0] - low[1], n)
Sell Pressure = EMA(high[1] - close[0], n)

Calc2: version by fract:
Buy Pressure = EMA(close[0] - min(low[0], close[1]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0], n)

Calc3: Jimmy's Thread:
Buy Pressure = EMA(close[0] - min(low[0], close[1]) - (min(open[0], close[0]) - low[0]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0] - (high[0] - max(open[0], close[0])), n)

Calc4: Centaur's proposal:
Buy Pressure = EMA(close[0] - ((high[1]+low[1])/2), n)
Sell Pressure = EMA(((high[1]+low[1])/2) - close[0], n)

Centaur wrote: Tue Feb 14, 2023 12:00 am Buy Sell Pressure (BSP)

Lets name the calcs as follows, I'll write them all and will share the screen shots, and we vote on the one that seems most accurate.

Calc1: version by Tradernawab:
Buy Pressure = EMA(close[0] - low[1], n)
Sell Pressure = EMA(high[1] - close[0], n)

Calc2: version by fract:
Buy Pressure = EMA(close[0] - min(low[0], close[1]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0], n)

Calc3: Jimmy's Thread:
Buy Pressure = EMA(close[0] - min(low[0], close[1]) - (min(open[0], close[0]) - low[0]), n)
Sell Pressure = EMA(max(high[0], close[1]) - close[0] - (high[0] - max(open[0], close[0])), n)

Calc4: Centaur's proposal:
Buy Pressure = EMA(close[0] - ((high[1]+low[1])/2), n)
Sell Pressure = EMA(((high[1]+low[1])/2) - close[0], n)

I'll share the most common timeframes M5, M15, H1, H4 and Daily

Buy Sell Pressure (BSP)

Calc1 - Results

Buy Sell Pressure (BSP)

Calc2- Results

Buy Sell Pressure (BSP)

Calc3- Results

Buy Sell Pressure (BSP)

Calc4- Results

Buy Sell Pressure (BSP)

From a readability point of view I prefer calc 1 and 4, really can't see a major difference in the performance of all 4 calculations.

Centaur wrote: Tue Feb 14, 2023 1:40 am Buy Sell Pressure (BSP)

From a readability point of view I prefer calc 1 and 4, really can't see a major difference in the performance of all 4 calculations.

This looks awesome! I was thinking of doing exactly this so I appreciate your efforts in such a short timespan.

Would it be easier to see the differences if we created five pictures where we focus on 1 timeframe and yet include all four indicators side-by-side?

ex) M1 timeframe: Calc1, Calc2, Calc3, Calc4

Also, did you use "buy sell pressure 2" or "buy sell pressure 2.01" to form the basis of Jimmy's calculations? I ask because Fract's BSP indicator went through a change in formula with V1 before he reverted back to the original formula in V2.01.