It would be nice to have an indicator that shows the amount of pulling or stacking in the limit order book up to a certain definable number of levels. (see picture)
There is A LOT of information in the order book and in its changes across time. Right now only TWO indicators in Motiewave are order book related (The Order Heatmap study and DOM Power study). Think about it. Price is just one of many levels in the order book, so the order book itself contains a multiple of the amount of information compared to price itself. Yet there are almost no tools in Motivewave to analyze it.
Pulling and stacking in the order book is a simple measure of increasing / decreasing pressure for price to move to the upside or downside.
There is A LOT of information in the order book and in its changes across time. Right now only TWO indicators in Motiewave are order book related (The Order Heatmap study and DOM Power study). Think about it. Price is just one of many levels in the order book, so the order book itself contains a multiple of the amount of information compared to price itself. Yet there are almost no tools in Motivewave to analyze it.
Pulling and stacking in the order book is a simple measure of increasing / decreasing pressure for price to move to the upside or downside.
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