PipTick Bid-Ask Volume

PipTick Bid-Ask Volume indicator is a tool that needs every scalper and intraday trader. It uses a special algorithm to determine the activity of buyers and sellers and displays it in the form of a histogram. With this feature, the trader can easily compare the level of aggression on the part of buyers and sellers and read the context of the market.

As we all know, the forex market is decentralized and therefore we do not have reliable information about the real volume. We also do not know the actual and historical values of the Bid volume (Sellers’ volume) and Ask volume (Buyers’ volume). However, we can use the tick count volume of Bid and Ask prices to determine the activity of buyers and sellers! So, with our special algorithm, we can get a very similar volume as in the futures market. We can analyze the flow of buy and sell orders with this functionality. As you’ll see, it’s a real Holy Grail!

How to Use PipTick Bid-Ask Volume Indicator

First, we must note that it is counterproductive to use our indicator on the higher time frames. The number of buyers and sellers is balanced on the higher time-frames, so the indicator has no informative value. That’s why we recommend using it on the charts from M1 to M5.

The order flow context of the market should be analyzed for the last ten to thirty minutes. It is always necessary to assess the activity of both sides, buyers and sellers.

There are several scenarios of the order flow context.

Buyers and Sellers activity Market condition	BAG SAG	BAS SAG	BAF SAG	BAG SAS	BAS SAS	BAF SAS	BAG SAF	BAS SAF	BAF SAF
The market is in an uptrend	Long	Long	Long	Long	Long	Long	Short	Short	Short
The market goes sideways	No trade	Long	Long	Short	No trade	Long	Short	Short	No trade
The market is in a downtrend	Short	Short	Long	Short	Short	Long	Short	Short	Long

BAG – Buyers’ aggressivity grows

BAS – Buyers’ aggressivity stagnates

BAF – Buyers’ aggressivity falls

SAG – Sellers’ aggressivity grows

SAS – Sellers’ aggressivity stagnates

SAF – Sellers’ aggressivity falls

Recommendations

Main Features

The indicator shows the Bid volume and Ask volume
A simple comparison of the activity of Buyers against Sellers
Alert notifications for indicator values
Works on every timeframe
The indicator is non-repainting
Real-Time data needed

Input Parameters

Volume_Mode - Allows to choose between Bid Down_Ask Up, Bid Down_Ask Up_Total Up, Bid Up and Ask Up settings
Record_Ticks_History - Allows to save the tick history data into file
Histogram_Thickness - Thickness of output histogram
Color_Bid_Volume - Color of bid volume
Color_Ask_Volume - Color of ask volume
Color_Total_Volume - Color of total volume
Alert - Allows to enable or disable alert notifications when the delta volume exceeds a certain value
Alert_Bid_Threshold - Allows choosing a threshold value for Bid volume
Alert_Ask_Threshold - Allows choosing a threshold value for Ask volume
Alert_Sound - Allows choosing the alert sound