A Gold Pass member asked for a tutorial about how to create a custom indicator using the Market Depth Provider that calculated the sum of level 1 through level 5 ask volume and the sum of level 1 through level 5 bid volume and then create and plot the ratio of the Ask Side/Bid Side.
The software only works with real time data.
The tutorial 154 ELD is available for free download by Gold Pass members in the Gold Pass area below.
Tutorial 154 notes
Tutorial 154 uses the tool box to create a Market Depth Provider. The load property is set to true and the symbol property to symbol. An update event is created. For every update the program goes through a For loop to sum the contracts in the first few bid levels and ask levels. The number of levels is based on the MaxLevels input.
The ratio of SumAskSize / SumBidSize is plotted.
Video summary of tutorial 154
Part 2 | Calculate and plot the highest value of the ratio for each bar
Part 2 of the tutorial shows how to calculate and plot the maximum and minimum values of the ratio for each bar. As with the first part of the tutorial the values are only plotted as bars develop in real time.
Gold Pass area
If you are a Gold Pass member you can download the tutorial ELD file below, please make sure that you are logged in with your Gold Pass user name and password.
This content is for members only.
THESE INDICATORS, SHOW ME STUDIES, STRATEGIES AND OTHER PROGRAMS HAVE BEEN INCLUDED SOLELY FOR EDUCATIONAL PURPOSES.
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