Hello,
I was hoping that you might consider adding ratios to the volume imprint ladder study. Attached are a couple of screenshots of what I’m thinking about…
For the bearish candles, the ratio calculation would be printed on the top and for the bullish ones, the ratios would be on the bottom. For doji’s or candles with no body, no ratios would be displayed at all.
Looking at circle “1”, you would have 219/37 = 5.919 and I would determine that to be a price rejection if the candle had small or single prints as the last volume number and the ratio was calculated to be greater than 1.
For circle “2”, the ratio would be 0.906, and I would consider the last print (203) to be the stopping volume since the ratio would be calculated to be less than 1.
Circle “3” is an example of a doji whereby no ratio would be calculated and circle “4” with its single print of “7” and ratio of 17.28 (calculated 121/7) is what I would call another price rejection.
Every candle (except for the dojis) would get a ratio calculation and it would also be great if the user could have the ratio numbers become emboldened or stand out in some way if a certain level or criteria set by the trader was met such as if the calculated ratio was above or below a predetermined number. If the emboldened number number was in the middle of a trend rather than just at a swing high or low, then maybe I could take that as a sign of the strength of the current trend.
The idea behind something like this (especially with the stand-out ratios) is if the market was trading at a daily/local high or low, I could tell at a glance if the market was simply running out of buyers or sellers (in the case of circles “1” or “4”) or if the sellers were trying to stop the market from climbing higher (as in the case of circle “2”).
Anyway, I was hoping you would consider adding this feature in a future update. Thank you for your time.
Shane
I was hoping that you might consider adding ratios to the volume imprint ladder study. Attached are a couple of screenshots of what I’m thinking about…
For the bearish candles, the ratio calculation would be printed on the top and for the bullish ones, the ratios would be on the bottom. For doji’s or candles with no body, no ratios would be displayed at all.
Looking at circle “1”, you would have 219/37 = 5.919 and I would determine that to be a price rejection if the candle had small or single prints as the last volume number and the ratio was calculated to be greater than 1.
For circle “2”, the ratio would be 0.906, and I would consider the last print (203) to be the stopping volume since the ratio would be calculated to be less than 1.
Circle “3” is an example of a doji whereby no ratio would be calculated and circle “4” with its single print of “7” and ratio of 17.28 (calculated 121/7) is what I would call another price rejection.
Every candle (except for the dojis) would get a ratio calculation and it would also be great if the user could have the ratio numbers become emboldened or stand out in some way if a certain level or criteria set by the trader was met such as if the calculated ratio was above or below a predetermined number. If the emboldened number number was in the middle of a trend rather than just at a swing high or low, then maybe I could take that as a sign of the strength of the current trend.
The idea behind something like this (especially with the stand-out ratios) is if the market was trading at a daily/local high or low, I could tell at a glance if the market was simply running out of buyers or sellers (in the case of circles “1” or “4”) or if the sellers were trying to stop the market from climbing higher (as in the case of circle “2”).
Anyway, I was hoping you would consider adding this feature in a future update. Thank you for your time.
Shane
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