@Zack Absorption Indicator: my feedback

[ttwatrader]

Hi Zack,
wanted to start a new topic about the Absorption Indicator.

From my point of view I think to understand what the Absorption Indicator is: he indicates the absorption of a price level within a specified time.

Allow me to ask:
Does it indicate absorption at a resistance or support level? Does it consider how limit side treats this volume? Does the limit side recharge or not? Does it absorb at a short term liquidity level or not?

Point I am aiming at is that to be valuable for the BM user the indicator should give some more information which could be used for a trading decision.

I am sure you have more ideas how to ...

[helminiak247]

Is this the same Absorption Indicator that was supposed to be released V6.1 Bld 34,

2017.png (38.69 KiB) Viewed 12315 times

in 2017?

[Zack]

Yes it is.
we decided to make an upgrade round to it before we release it again
It is open now to a small group of users. If you wish to have access to it, please let me know

[helminiak247]

Yes, I've been asking for a while.
Paul says yes then Sandra says no. My PC is high end so the performance should not be an issue
Thank-You
-jjh

[Zack]

I've updated your license so after restart you should see it now

[helminiak247]

Thank-you Zack and enjoy your day

[Zack]

You're welcome !

[sabrinaz15]

Yes, I've been asking for a while.
Paul says yes then Sandra says no Mutuelles senior. My PC is high end so the performance should not be an issue
Thank-You
-jjh

Well, it depends mainly on the components of the pc and not the performance displayed on the pc.

[helminiak247]

Zack,
I've been watching the Indicator for a few days however is there a different way we can ID or color the area? The yellow blends in with the new heatmap charts to much IMO and I have switched back to the old black to white for the heat map to see it more clearly.

As far as trade-able action it seems to line up with the "collision" areas that can be faded on retest.

The "Min Size" and "Max time" seem to be more of an art as I dont know what kind of study I can do to pull that information out of my data feed
Any advise on that point?

-jjh

[Zack]

jjh,
Thanks for the feedback !
Note that the absorption indicator is still in research / development stage. This is why we didn't expose it to all yet.
We plan to improve its appearance (the yellow markers are just temp ones), to fix few bugs and also consider few improvements (e.g. take the limit orderbook into account as well). maybe we'll even merge it with another indicator.
I'll share with you considerations on settings and keep you updated on next release

Zack