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Psychological/orderflow levels
 Post subject: Psychological/orderflow levels Post rating: 0   New post Posted: Tue 09 Oct, 2012, 10:38 

User rating: 0
Joined: Tue 09 Oct, 2012, 10:19
Posts: 1
Hello DC Team,

Platform is very intuitive and I like it a lot ;)

Down to business.. Certain levels are very psychological and the reason is order flow. Fx studies show that orders are concentrated in 80's and 20's. E.g. EURUSD. Price drifts now at 1.2156 and lets say we're in an uptrend. The next Level of increased order clusters would be from 1.2180 to 1.2220. So 1.22 is a psychological level.

Therefore it would be nice to have an indicator that plots those psych-levels for you. Day traders might be interested in 1.2300 - 1.2320 - 1.2340 - 1.(2350) - 1.2360 - 1.2380 - 1.2400 levels

On a bigger scale(for longer term traders) Round number such as 0.9000 and .09500 and of course the parity is of great importance 1.000 are very important to traders.

I guess it is really simple to code it. Do you think you could make it?

I can't find it on Jforex, so I assumed it does not exist as of yet.

Kind Regards,
Alpha


 

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