This script is designed to alert one to the possible presence of hidden walls, or visible, that are absorbing a lot of volume without letting price change. Therefore acting as Support and Resistance.
Note di rilascio
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This new version of absorption measures it using Standard Deviation. You can set a minimum number of Sigma's of Absorption to be displayed. So now it will automatically adjust to the volume of the timeframe of that exchange and symbol. It will show you how much a price is supporting or resisting, by relatively how much volume it absorbs with minimal price change.
Can you explain the sigma part, and how that works. Is the higher number more absorption? Thanks
rthomson
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@ktuck, Sigma is a measure of number of standard deviations from the norm, so yes, here a higher number represents a higher amount of absorption. 7 is considered to be very unusually high, and in many cases just 3 is already high.
rdecker7878
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WOW... After adding this script, I was able to see just how EVIL and DIRTY BIG MONEY is. Unbelievable!!!! This is excellent work!!! Thank you!!!
RiverDeep
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This is a great tool, hat dock.
RiverDeep
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doff..
vicky_c7
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Whats red line and green line denotes ??
Moolalchemy
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This is a great indicator for following price - very useful indeed . Much appreciated !!