Parameter

Description

Display

Opens sub-window to set parameters

•      Color = Line color.

•      Weight = Line thickness.

•      Display = Line style: line or histogram.

•      MarkIt = Opens Specify Conditions window.

Weights

Enter values to weight the sum of the four bids or asks.

DOMFilter

Filter by either time or size and set the threshold for the filter.

OB/OS

Opens sub-window with overbought and oversold parameters:

•      Color = Select a color for the line.

•      Weight = Choose a thickness for the indicator.

•      Type = Choose fixed or dynamic.

Fixed = uses Level as a fixed OB/OS value.

Dynamic = uses Standard Deviation and Lookback for a dynamic OB/OS value:.

OB: MA(@,Sim,lookback) + factor * STDDEV(@,lookback)

OS: MA(@,Sim,lookback) - factor * STDDEV(@,lookback)

where @ is the study

•      Std Dev = Multiplier used to calculate high and low.

•      Lookback = Number of bars to compare to the current bar.

•      Level = Percentage of average OB/OS used to calculate predictor Ob/OS levels.

•      Display = Click this check box to display the component.

•      Style = Choose a line style.

Calculation Mode

Values:

•      Linear = uses the four bids and asks closest to best to calculate weighted sum (bids and asks 2, 3, 4, 5).

•      Market Adaptive = uses three bids and asks based on these rules: If the next bar’s middle is higher, then bids 3, 4, 5 and asks 2, 3, 4 are used. If the next bar’s middle is lower, then bids 2, 3, 4 and asks 3, 4, 5 are used. If the next bar’s middle is the same as the current bar, then bids 2, 3, 4, and asks 2, 3, 4 are used.

Volume Type

Values:

•      Actual

•      Ticks

Averaging Period

Enter a number, so that the study value is an average of that many of the last calculated values.