INVITE-ONLY SCRIPT
Buy and Sell Pressure
This indicator is an interpolation of the demand index by James Sibbet. Thomas Aspray, an experienced trader, suggests using DI in three formats, one of those was to plot the buying pressure (BP) and selling pressure (SP) as separate lines; which is what this indicator was designed to do. The green line represents the buying pressure and red line represents the selling pressure. Advantages:
The Buy and Sell Pressure indicator is available for purchase at https://www.cryptoalphaindicators.com/buy-and-sell-pressure/
- Divergences between BP or SP and price. A divergence between the BP or SP and prices suggests an approaching change in the price trend.
- Crossovers can be interpreted as bullish/bearish
- Known issues: illiquid crypto forex pairs or stocks with a very low price (i.e. 0.0000056) will cause the BP and SP to not work correctly, this can be mitigated by changing the quote currency, choosing an exchange with more volume, or changing the time-frame to a longer value.
The Buy and Sell Pressure indicator is available for purchase at https://www.cryptoalphaindicators.com/buy-and-sell-pressure/
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact CryptoAlpha_indicators for more information, or follow the author's instructions below.
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