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The PipTick Bid-Ask Volume indicator is a tool that is necessary for every scalper and intraday trader. It uses a special algorithm to determine the activity of buyers and sellers, and also displays it as a histogram. With this feature, traders can easily compare the degree of aggressiveness on the part of buyers and sellers, as well as understand the market context.

As you know, the Forex market is decentralized, and therefore there is no reliable information about real volumes. There is also no data on the current and historical value of the Bid volume (the volume of sellers) and the Ask volume (the volume of buyers). However, you can use the tick volume of Bid and Ask prices to determine the activity of buyers and sellers. Thus, our special algorithm allows you to get a similar volume as in the futures market. With this function, you can analyze the flow of buy and sell orders.

How to use the PipTick Bid-Ask Volume indicator?

First, it should be noted that the use of the indicator on the older indicators leads to the opposite results. The number of buyers and sellers is balanced on the higher timeframes, so the indicator has no informative value. Therefore, it is recommended to use it on charts with a timeframe from M1 to M5.

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The context of the order flow in the market should be analyzed for the last 10-30 minutes. It is always necessary to evaluate the activity of both parties, buyers and sellers.

In fact, there are several order flow context scenarios available:

Activity of buyers and sellers

Market conditions

BA is growing

SA is growing

BA slows down

SA is growing

BA drops

SA is growing

BA is growing

SA slows down

BA slows down

SA slows down

BA drops

SA slows down

BA is growing

SA drops

BA slows down

SA drops

BA drops

SA drops

The upward trend in the market

Purchase

Purchase

Purchase

Purchase

Purchase

Purchase

Sale

Sale

Sale

Sideways movement in the market

Do not trade

Purchase

Purchase

Sale

Do not trade

Purchase

Sale

Sale

Do not trade

Downtrend in the market

Sale

Sale

Purchase

Sale

Sale

Purchase

Sale

Sale

Purchase

  • BA-customer aggressiveness
  • SA-aggressiveness of sellers

  • Do not place your frames in the time of the indicator.

  • The indicator shows the Bid and Ask volumes
  • A simple comparison of the activity of buyers and sellers
  • Pop-up alerts for indicator values
  • Works on any timeframe
  • The indicator does not redraw
  • Real-time data required
  • Saving indicator data to a file
  • Excellent results in conjunction with the levels of support and resistance
  • The perfect tool for scalping
  • Very fast calculations
  • Designed for MT4 and MT5

  • Volume_Mode – volume mode, options: Bid Down_Ask Up, Bid Down_Ask Up_Total Up, Bid Up and Ask Up settings
  • Record_Ticks_History-allow saving tick history data to a file
  • Histogram_Thickness – the width of the resulting histogram
  • Color_Bid_Volume – color of the Bid volume
  • Color_Ask_Volume – the color of the Ask volume
  • Color_Total_Volume – the color of the total volume
  • Alert – enable / disable alerts when the volume delta exceeds a certain value
  • Alert_Bid_Threshold – threshold value for the Bid volume
  • Alert_Ask_Threshold-threshold value for the Ask volume
  • Alert_Sound-select an audio file for alerts

  • Volume_Bid – the value of the Bid volume
  • Volume_Ask – the value of the Ask volume
  • Volume_Total – the value of the total volume

For more information, visit the PipTick Bid-Ask Volume page.

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Published

05 May 2017

Updated

Current Version

1.0

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