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Just for the past few days have been pondering on creating this indicator.
Basis for index:
1. The number of people trading a particular instrument is pretty much
the same.
2. when the prospect of a move is due more people trade the instrument.
3. Increased people causes increased price movement.
4. Comparing the speed of the movement would give an indication of the
number of people trading the instrument. speed of movement would be
calculated by dividing difference between high/low pivot to its
current price would give the current velocity of movment
5. Comparing this velocity to a previous move would give a decent
basis for estimating the interest in the security and the prospect for
further increases/declines.
Anyone has any thoughts along these lines or tried something similar?
Thanks
Eugene
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