EUR.USD M240 The upmove following FOMC doesn't look so convincing on this scale (BADL blue line), so I'm tightening my stop to 1.1385 (spot price) just in case.

Better ADL

EUR.USD Daily Reversal So does the BADL ever diverge from price to predict a reversal? Here is the same 6E daily chart but shifted to the left to show the start of the reversal from 1.05. You can see that the first yellow line is much steeper on the ...

Better ADL

EUR.USD Daily Here is a chart of the CME 6E contract (EUR.USD) showing the original ADL and two versions of the Better ADL (BADL). The bottom red line is original ADL. The middle green line is BADL calulating on the daily bars. The top blue line is ...

Better ADL

Here is my initial version of the BADL indicator for NinjaTrader, including source code. Sorry for the delay, it was caused by: 1. Making the mean spread calculation more efficient (subtracting from and adding to a running total rather than looping ...

Better ADL

I totally agree. Watching these professionals share their insights, some of whom have been trading for more than 30 years full time, is truly inspiring.

Let's Trade Options

Thanks slicken, and yes you're right. It calcuates an intial ratio in the same way as mine: (Close - Open) / (High - Low). I must have misread about it not using price, or maybe it was modifed after that. It doesn't apply the mean spread of the ...

Better ADL

Yes, -1/6 is fine for both of these bars. In the context of VSA, these kind of bars can be very meaningful, depending on their volume and the "background volume" (volume of nearby bars) at the time. But in the context of a simple indi like ADL or ...

Better ADL

Absolutely k, go for it! I was hoping that you or one of the other great MT4 coders would convert it because, as you know, I only program NinjaTrader stuff, which is a fat lot of use to most people on here. The start of the week is really busy for ...

Better ADL

That's a great compliment Jim, thank you very much However, I can assure you that I'm not one of the best traders on this board . Not yet, anyway.

Better ADL

Thanks, it must be a good indi if you've been using it all this time. I read on that thread you linked to that the indi uses no price information whatsover, only volume. Wow! Mine uses price and volume, and kprsa's uses only price, so it's going to ...

Better ADL

Thanks k. That was quick! And very generous of you to share them here. I'll have to convert them to NT7 to see them in action, which I'll do after I've finished presenting my BADL indi. Should be interesing comparing them all. Cheers

Better ADL

Sorry mate, I can't read your post at all for some reason. It's all squiggles. But thanks anyway! Right... back to my Sunday evening of excessive eating and drinking, so that's all from me for today. Have a good one

Better ADL

Thanks k, that's a nice idea! And would eliminate the need for volume data. Have you tried coding this, or is it just an idea at this stage? I still believe there might be something to Mid TZs, and they're still on my list of things to analyse. ...

Better ADL

Hey Jim, I always appreciate constructive criticism so thanks very much for bringing it up. And you're absolutely right - this indicator will only work with decent volume data, which I realise is hard to come by in the FX market. Personally I use ...

Better ADL

Thanks slicken. I think it's important for people to know exactly what an indicator does before they use it, which is why I'm trying to explain it carefully before posting the indi. As for the gadi_obv indi, I'm sorry but I'm not aware of that one. ...

Better ADL

Better ADL I believe there are three ways in which we can make the ADL better: 1. New ratio BADL ratio = (Close - Open) / (High - Low) The calculation becomes simply the ratio of the Open-Close spread to the bar's High-Low range. This will produce ...

Better ADL

Original ADL Before we can start creating a better indicator we have to know exactly what the existing ADL calculates and what we can improve. So, this is the formula for Marc Chaikin's ADL: ADL = Previous ADL + (((Close - Low) - (High - Close)) / ...

Better ADL

Ah yes, of course, the transaction costs! I should have thought that one through a bit more. To be honest I only trade very liquid futures these days with low commission and virtually no slippage. For instance, 1 contract of N225M costs 80 yen per ...

Just a bit of advice, for anyone, for free

Hey katrooo, This looks like the start of a very good thread. Thank you so much for writing and sharing your valuable thoughts. I'm only a part-time trader but have been doing it long enough to realise that what you've written above is absolutely ...

Just a bit of advice, for anyone, for free