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Hi,
I have tried to code in AFL language the new visual charting of supply
and demand as shown and explained in Ord volume charts (http://www.ord-
oracle.com/OrdVolumeCharts.htm) by using the zig zag function
available in AB but without much success. Brief explanation of this
charting method is as follows: (see gif images on the web site
mentioned above)
1. Calculate and visualise on the chart the most important price
swing points (Highs and Lows)by recursively going thru the historical
data (like Zig- Zag AFL function or other function could do)
2. Measure the average daily volume on the swing rallies (Zig UP LEG)
and then the average daily volume on the swing declines(ZIG Down LEG).
We add up the volume between the swing high and low and divide by the
number of days in that swing to determine the average daily volume in
that swing to determine the force behind that swing. We repeat that
process with other swings and make a comparison to the other swings to
determine which way the force is pushing.
3. We could visualize the upswing average volume and downswing average
volume on the chart or may be as an indicator below the price data.
By using the zigzag Hilo indicators suggested by Antonio Marra or
Steve Dugas in messages 86544 and 86540, as starting point I could not
figure out how to calculate the upswing and downswing volumes and put
them on the chart and I'm still looking for the correct way.
Any idea or help will be greatly appreciated.
Best Regards,
Abdel
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