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Absorption like MZ Pack

Indicators

Hello everyone

It would be really interesting to develop an indicator that could display absorption. It could work like the stacked imbalance and remain active until the price hits the zone. This type of indicator already exists on ninja trader with the MZ pack. Attached is the link to the MZ pack website. This makes for really coherent and interesting levels.

https://www.youtube.com/watch?v=eGIoltWYbLI&t=69s

https://www.mzpack.pro/product/mzfootprint-for-ninjatrader-8/

Posted by Martin Thiebaut ·
Status: Completed1 comment

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Comments1

  • Joerg

    •

    Jun 30, 2024

    Could be implemented quite easily in my opinion using the stacked imbalances indicator as a basis.

    MZpack absorptions are nothing else than inverted stacked imbalances i.e. an imbalance on the ask side is considered

    • a bullish imbalance (which already is available in the indicator) as long as the price is above -and has not taken out- the imbalance zone or

    • in case the price trades below -and has not taken out- the imbalance zone is considered as an bearish absorption.

    For imbalances on the bid side of course vice versa.