well, key reference areas (support and resistance lines, market profile levels) etc. are not lagging indicators.
if you consider them "indicators"
look at it this way. assume a 1 pt YM spread.
there are bids down the line from the inside bid down
there are offers up the line from the inside ask up
for ANY trade to take place, SOMEBODY has to make a market order. somebody HAS to lift an offer (exchange occurs at the ask) or somebody has to hit a bid.
period.
yes, sometimes ( a relatively small %age o trades with YM) a trade occurs between bid/ask. that happens when the spread goes beyond 1 tick and 2 peopl emeet in the middle
but regardless, THAT is what differentiates (for the purposes of marketdelta) buying vs. selling pressure
it's also what every tape reader worth his salt pays attention to also.
ALL marketdelta is - is a way of compiling and visually representing the relationship between buyers and sellers (as defined by those lifting offers vs. hitting bids)
it is something most tape readers (myself included) watch. it's just a question of whether you want MDelta's representation of that data.
if you consider them "indicators"
look at it this way. assume a 1 pt YM spread.
there are bids down the line from the inside bid down
there are offers up the line from the inside ask up
for ANY trade to take place, SOMEBODY has to make a market order. somebody HAS to lift an offer (exchange occurs at the ask) or somebody has to hit a bid.
period.
yes, sometimes ( a relatively small %age o trades with YM) a trade occurs between bid/ask. that happens when the spread goes beyond 1 tick and 2 peopl emeet in the middle
but regardless, THAT is what differentiates (for the purposes of marketdelta) buying vs. selling pressure
it's also what every tape reader worth his salt pays attention to also.
ALL marketdelta is - is a way of compiling and visually representing the relationship between buyers and sellers (as defined by those lifting offers vs. hitting bids)
it is something most tape readers (myself included) watch. it's just a question of whether you want MDelta's representation of that data.
