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gbVolumeReversal

gbVolumeReversal, Ver 1.1, TraderGB, May 23, 2021 [ Updated ]

Description: This was my attempt to reverse engineer through trial-and-error Mark Leibovit�s volume reversal and volume sequential indicator. The calculations for this are unpublished and remain proprietary. This was first done about six years ago when I had access to the indicator with recent price action and simply messed around with price and volume until matching all the signals. Within this indicator I put a divergence signal, which is not part of Leibovit�s work. I personally don�t use this indicator, but some may find it useful.

References:
The Trader�s Book of Volume, The Definitive Guide to Volume Trading, Mark Leibovit, 2011, p 255-262
The Encyclopedia of Technical Market Indicators, Robert W. Colby, CMT, 2003, p 778-780

Updates:
Ver 1.1, 2021-05-27: Included options for each of the two text labels be optional (requested by chartman). Note, if you have 'Show Sequential VR Text' checked but not "Show Sequential VR", Sequential VR text will not appear.

Category NinjaTrader 8 Indicators and More

Details: gbVolumeReversal
Category: NinjaTrader 8 Indicators and More

May 23rd, 2021
Size: 4.71 KB
Downloaded: 1266 times

Comments/ratings

Zenersev July 30th, 2021 07:46 AM

Thx

Buscador July 31st, 2021 07:44 PM

No Comment

Abusamjad91 August 6th, 2021 02:17 AM

Thanks

bergenrain August 8th, 2021 10:32 AM

No Comment

Sam trader August 29th, 2021 08:36 PM

No Comment

DonL August 30th, 2021 01:58 PM

Can be very useful!

DonL August 30th, 2021 01:58 PM

Can be very useful!

d1david November 24th, 2021 08:41 PM

No Comment

mjones11 January 28th, 2022 10:45 AM

Excellent indicator! Exactly what I needed.

BKOp February 14th, 2022 03:57 PM

I added a TrendValue plot to make it visible to BloodHound and to mimic gbCloseOverCloseTrendMap.

Code

AddPlot(Brushes.Transparent, "TrendValue");

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