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Better Volume (amaBetterVolume)
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
Details:
Better Volume (amaBetterVolume)
Category:
NinjaTrader 8 Indicators and More
August 22nd, 2018
Size: 26.72 KB
Downloaded: 2219 times
Keywords:
bettervolume
churn
climax
climaxchurn
volume
vsa
1989
Fat Tails
View Download Details
August 14th, 2023 10:02 AM
Maxie
thanks
June 29th, 2022 02:53 PM
daviddube
How do we access the sound files?
July 23rd, 2021 04:34 PM
KeithL
March 3rd, 2020 05:51 PM
redpr
hi did any fix sounds on this indicator? i use NT8, if someone can help id be great thank you!
December 15th, 2019 10:32 PM
rijas
HI
IS IT NOT POSSIBLE TO IMPORT ama_better_volume when ama_hourly_pivot already installed?
when trying to install this it says
The existing file 'bin/Customndicator@MAX' on your PC is a newer version of the one contained in the NinjaScript Archive
File you are importing . would you like to replace the existing file ?"
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