By Frederik on February 21, 2018 in Custom SC studies

Some of the most successful traders use different aspects of orderflow in their arsenal of trading tools. Price and Volume are no doubt at the foundation of good trading decisions. While I am no educator on how to best use orderflow in your trading, I did make an indicator that will help identify so called diagonal imbalances between bid x ask at different pricelevels. This study utilizes Volume by Price data to indicate zones of imbalance. This study works on any chart, it is not necessary to run the Numbers Bars study at the same time.

An update was released on March 22 - 2018! The new version gives more control over the visual aspects and has the ability to overlay the blocks on your other charts.

On a recent update (12th July 2019) a new version of this study is made available which has an intrabar update option.

On a recent update (15th October 2019) a new version of this study is made available which has an option to define the intercept as either touch or break.

More...

This imbalance study was released to interested clients last year and now it's available for everyone on the SST website. Check it out in a free trial and let me know if you like it. Use code "freetrial" (without the quotes) in the checkout process, to make the trial 100% free. When you complete the checkout you will receive the license code, which needs to be used on your SST profile page for study activation. Read this blog post on how to use the license key. 

Draw those imbalances between bid and ask volume

An update to the study is released. Check out the first video to see what's new!

The simple settings

Check out the setting in the below image. Lots of options to tweak the appearance of the imbalance blocks. The settings are explained in more detail in the above videos. 

imbalance study settings

Education

Trading is a personal journey and education is a key ingredient to success. Get educated on using orderflow and see if this can help in your trading. If you are an orderflow educator let me know, I would be happy to provide a link to your site and possibly learn some more on the subject myself. At SST I will not pursue the goal to become an educator, instead I focus on getting you the best and most useful indicators for the Sierra Chart platform to support your trading. 

A One-Time 10-Day Free license is available so you can give this study a try and see if you like it. The button above will show a gumroad checkout page. Use code "freetrial" (without the quotes) to make the trial 100% free. When you complete the checkout you will receive the license code, which needs to be used on your SST profile page for study activation. Read ​this blog post on how to use the license key.

Imbalance Study Summary

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    Highly customizeable
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    Stable and accurate 
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    Works on all symbols and chart types
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    Future updates planned to support SG values
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    Study updates and future improvements are always free

I am all about helping serious traders with #SOLID custom Sierra Chart studies. Hopefully this study is of use to you, let me know your thoughts and ideas in the comments below. Do not hesitate to contact me if you have any other questions.

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About the author

Frederik creates #SOLID automated trading strategies and indicators for the Sierra Chart trading platform, helping serious traders worldwide with consistent trading performance.


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