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Better Volume (amaBetterVolume) 5 *
Version 1.1 September 12, 2018

This indicator is based on the original version of the Better Volume Indicator from https://www.emini-watch.com/. It identifies the following events relative to the selected lookback period:

Breakout or climax bars: A breakout or climax bar is a wide range high volume bar for which the the product "volume times range" is higher than for all preceeding bars of the lookback period.

Churn bars: A churn bar is a narrow range high volume bar for which the ratio "volume per range" is higher than for all preceeding bars of the lookback period.

Climax churn bars: A climax churn bar is a high volume bar that qualifies both as a climax bar and as a churn bar.

Low volume bars: A low volume bar is a bar which has a lower volume than for all preceeding bars of the lookback period.

The indicator uses two lookback periods. The larger lookback period identifies stronger climax and churn bars, the smaller lookback period points to weaker climax and churn bars and is used to identify low volume bars.

A breakout or climax bar may occur at different locations. It may start a trend as a breakout bar, it may indicate that an existing trend continues after price has consolidated or it may occur at the end of a trend and indicate that the trend is near exhaustion. This bar type is similar to classic types of gaps that may be found on daily charts. There are runaway gaps, continuation gaps and exhaustion gaps. Breakout or climax bars may be used as a subsitute for those gaps when trading smaller timeframes.

Relative Volume: When you use the BetterVolume indicator with intraday data, it is pretty much distorted at the beginning of the regular session. When compared to pre-session bars, all the bars in the beginning of the regular session look like high volume bars, which in turn leads to false signals. This behavior is corrected when the Better Volume indicator is applied to "relative volume" instead of "absolute volume". This version of the indicator allows for performing the Better Volume calculations on both absolute volume and relative volume.

Sound Alerts: The indicator comes with sound alerts.

Market Analyzer Column: I have included a market analyzer column with the install file. The market analyzer column will return bar codes for each type of signal: strong climax churn bar = 0, strong climax bar = 1, strong churn bar = 2, weak climax churn bar = 3, weak climax bar = 4, weak churn bar = 5, low volume bar = 6, upclose no signal bar = 7, downclose no signal bar = 8, doji no signal bar = 9. Based on these values you may define cell conditions and show the signals as text with background color on the market analyzer.

Update version 1.1: Bug removed. Sound alerts did not fire, because the path for the sound files had not been initialized.

Update version 1.3:: Holiday calendar updated for Relative Volume indicator, sound alerts now working on inactive charts.

Nota: The forum software has renamed the downloadable zip file to the false version number 1.0. Please disregard the version number of the zip file. The zip file contains the indicator version as specified above.


Category NinjaTrader 8 Indicators and More 
 
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Details: Better Volume (amaBetterVolume)
Category: NinjaTrader 8 Indicators and More 


August 22nd, 2018
Size: 26.72 KB
Downloaded: 2212 times

Keywords: bettervolume churn climax climaxchurn volume vsa
Comments/ratings
5 * rickr August 22nd, 2018 05:29 PM
Fat Tails . . .

FANTASTIC ! ! !

Thank you Soooooooooooooooooo Much

Rickr
5 * ValLiant August 22nd, 2018 05:48 PM
thank you!
5 * sudhirc August 24th, 2018 04:06 AM
Thanks you...awesome indicator

Best Indicator
5 * jmont1 August 26th, 2018 08:27 AM
Sound files are missing. Fat Tails may I request you post them for this great indicator? THanks
5 * kiro August 30th, 2018 05:48 AM
Thank you for all your work! Great!
5 * dakine September 6th, 2018 04:34 PM
5 * delta9100 September 28th, 2018 11:09 PM
thank a lot
5 * Jones1020 November 15th, 2018 10:20 AM
Really great indicator. This is popping up on my alert logs but isn’t making an audible sound. It’s most likely something I need to do. (I’m very new to NT8). Can someone tell me the magic trick? Thanks
5 * mollymags November 15th, 2018 07:04 PM
This is great. It appears that the indicator doesn't quite work with range bars....is that accurate or is there a setting that needs to be changed?
5 * kiro February 8th, 2019 08:09 AM
Thank you for sharing!!

 
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