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...