16 July, 2016

Multiple Imbalances

Rationale & Trading Techniques

Similar in concept to the Stacked Imbalances indicator, the Multiple Imbalances indicator displays when a price bar contains three or more bid/ask imbalances (but not necessarily at consecutive price levels), highlighting the commitment of high volume traders. An up arrow is drawn below a price bar with multiple buying imbalances and a down arrow is drawn above a price bar with multiple selling imbalances. The arrows are colored according to the Buy/Sell signal color setting.

The Delta Snapshot indicator complements this indicator very well to provide at-a-glance visual indication of buying and selling strength on a per-bar basis.

 


Examples

Most of the emoji trading Order Flow Suite indicators can be used on other chart types including bar, candlestick, Renko and Heiken Ashi charts in addition to Numbers Bars.

 


Multiple Imbalances Settings

 

Input Name Description
Enable Zero Diagonal Comparison? This input determines whether price levels where zero volume traded at the bid or ask (including the highest and lowest prices in within the bar) are evaluated for imbalance calculations.
Imbalance % The percentage level used for diagonal bid/ask volume imbalance calculations.
Symbol Offset (Ticks) Specifies the indicator’s display position above/below the current bar.
Opposing Imbalance Display Filter When a bar contains multiple imbalances on the bid and ask side, this input determines indicator display logic:

  • None: indicators for both multiple bid and multiple ask condition will be displayed
  • Dominant Imbalance Quantity: the higher of bid and ask imbalances will determine which indicator is displayed. If equal, ask will be displayed
  • Bar Direction: a Multiple Ask Imbalance indicator will be displayed for up bars and a Multiple Bid Imbalance indicator will be displayed for down bars

 


Indicator Subgraphs

 

ID Subgraph Description
SG1 Bid Imbalance Quantity The quantity of bid imbalances within the bar. Provided to assist development of automated spreadsheet and ACSIL trading systems.
SG2 Bid Imbalance High Price The highest price level within the bar at which a bid imbalance occurred. Provided to assist development of automated spreadsheet and ACSIL trading systems.
SG3 Bid Imbalance Low Price The lowest price level within the bar at which a bid imbalance occurred. Provided to assist development of automated spreadsheet and ACSIL trading systems.
SG4 Bid Imbalance Symbol The symbol used to indicate multiple bid imbalances.
SG5 Ask Imbalance Quantity The quantity of ask imbalances within the bar. Provided to assist development of automated spreadsheet and ACSIL trading systems.
SG6 Ask Imbalance High Price The highest price level within the bar at which an ask imbalance occurred. Provided to assist development of automated spreadsheet and ACSIL trading systems.
SG7 Ask Imbalance Low Price The lowest price level within the bar at which an ask imbalance occurred. Provided to assist development of automated spreadsheet and ACSIL trading systems.
SG8 Ask Imbalance Symbol The symbol used to indicate multiple ask imbalances.