Tension indicator from BaconTrading??

I read through that page and don't see any description of how the indicator was created or what components it's using. So impossible to re-create unless you can do so just by looking at their pictures. However, I suspect that it's using an index or the like to gauge for market direction.

tIXgtjF.png


Here is an example, using $VOLD to figure out if the up and down volume in the New York Stock Exchange correlates with $SPY's direction. I use $VOLD to find divergences.
  • If $VOLD is up but SPY is down, then most likely there is a dip-buying opportunity.
  • If $VOLD is down but SPY continues to move up, something isn't right, I would short
That's my two cents of how I would use it.
 

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The bacon guy has this. I asked him how does he know how many buy/sell orders are left, he said the following:

"That's based on the volume across the Index, Future, and Stocks in the Exchange. It looks to track how the market traps in baskets of traders to sell as liquidity."

Doesn't really explain it, but it does look very interesting.
EDoVNllVUAApDqF?format=jpg&name=large.jpg
 
I read through that page and don't see any description of how the indicator was created or what components it's using. So impossible to re-create unless you can do so just by looking at their pictures. However, I suspect that it's using an index or the like to gauge for market direction.

tIXgtjF.png


Here is an example, using $VOLD to figure out if the up and down volume in the New York Stock Exchange correlates with $SPY's direction. I use $VOLD to find divergences.
  • If $VOLD is up but SPY is down, then most likely there is a dip-buying opportunity.
  • If $VOLD is down but SPY continues to move up, something isn't right, I would short
That's my two cents of how I would use it.
Hey Ben how did you get that as a line? Also, do you think it's possible to make a label with that?
 

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