Str/Squ is a "NOW" indicator. You are only concerned with the signal at the point of change. Spyder explained it better. http://www.elitetrader.com/vb/showthread.php?s=&postid=1420617#post1420617 http://www.elitetrader.com/vb/showthread.php?s=&postid=1465746#post1465746
so is this what you're seeing? there's basically no bar bellow 0 the entire day except one or two... also, my premarket data is screwing up the way the morning str/sqz looks.... is there any way to fix that? also i think the colors of the meter is a little off... 'cuz the bars that are inbetween 2 and -2 aren't set... so i'm seeing red bars that are above 0 but below 2
edit: The offset maybe adjusted throughout the day (as required). Basically you find a quiet period of the day and consider that a "neutral" period. You then adjust the offset until the Str/Squ is at zero (ie neutral). Thus when the market starts to move, the indicator will alert you to the moves that are taking place. Because the offset changes with time, what you had in the beginning of the day no longer applies. Therefore the earlier part of the chart will always look skewed. (That's what we meant by a "NOW" indicator; you are only concerned with "NOW".) The script is set up in this way: 1. the color will stay green until the str/squ reached below the lowerline, at that point the color will turn red. 2. the color will remaind red until the str/squ reached above the upperline. Therefore if the str/squ dived below the lowerline, but retreated above zero and below the upperline, the color will remain red to let you know that it has been below the lowerline. edit: do read up on what Jack and MAK has to say about this Str/Squ. There are lots of wisdom hidden in those posts.
hmm i see... 'cuz a long time ago spyder said he just checks the price at which the YM closes vs the price DOW closes... and that will be his offset for the day. dont remember him saying he changes that during mid day. so that web site yo ushowed me... i got 79.92 when i checked.... but it didn't change since i first checked though.... so how often do you change this offset number? and where do you get this updated number from? that page doesn't seem to udpate anything.
I know where your questions coming from. I had the same questions before, and there is no 1 sentence answer. I'd suggest you to do some more reading on the subject... all the questions were asked before, and explained by persons more qualified than me. After your readings, I would then set up the indicator for "observation" for a few days... do some experimental adjustments and see the differences... This is not a red light/green light indicator. This is a finer tool for the advanced users. You do need to understand the finese before you know what are you looking at, and know what you are looking for... (in conjunction with all the other "messages" the market throw at you in real time.) edited 3:30pm
you just find a time when the market is not moving much... then just tweak with the number to get it to set to neutral where the bars are inside the -2 and 2 lines? how often do you change the offset though? what if the market today is very volatile from 9:30 all the way to 12... and from 2 to 4... so you basically only change the offset once ... during the lunch time?
For those thinking of trying NinjaTrader, here the multicolor Volume indicator I wrote last October. Although posted to NT support forum back then, I notice things have a tendency to get buried and lost. So it seemed logical that all things Hershey related should also get shared here. Just put it in the bin/Custom folder, and File-Utilities-Import. Then Tools - Edit - Compile. It was written for v6 but I just pulled it into 6.5 beta, no problem. I want to work on adding PRV to it next. best regards, Maxey
Thanks! I was surprised to find out that multicolor volume is not an NT feature, and the users have to code it.
I am surprised by a lot of things in NT -- but oh I have hopes... I suspect that I am spoiled by QT....