Note: If you find bugs, have feature requests, or anything else, post in THIS thread.
This is a simple indicator that highlights the maximum volume achieved during the day... AS IT DEVELOPS.
The max volume is reset at the START of your session template's start time, and as a newer higher volume is made, that bar is highlighted. You can select the color of the volume plot in the 'plots' section, and the color of the highlight you desire in the 'parameters section.
This indicator update onEachTic() like the standard volume indicator does.
There is not much to this indicator, but someone requested it in THIS thread. By the time I got around to building it, someone already posted one, so I did not post this version. Just posting it in the case someone else needs such an indie.
Again, this was not my idea, but was built on someone else's specs in the above thread.
This indicator compares current rolling volume for a user selected time frame and compares it to an expected volume for a user selected time frame over a user selected n period in days.
The standard settings are set to 10 minute rolling and 10 minute expected with a 13 day lookback period. So, basically the bar plot shows the current continuous rolling 10 minute volume and compares it to the line plot that is an average of every 10 minute time slot over the last 13 days.
You also have and option to exclude user selected days from the lookback period.
I find this works well with range or tick bars, but also works with time based bars.
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.
The N-Monthly VWAP is the volume-weighted average price (VWAP) of a security for the selected N-month period. The VWAP gives a fair reflection of the market conditions throughout the selected period and is one of the most popular benchmarks used by large traders.
The N-Monthly VWAP can be set to calculate for the entireperiod or it can be set to calculate for custom hours such as the regular session only. The VWAP further comes with volume-weighted standard deviation bands or quarter range bands. Although the VWAP uses volume information, it is best set to “Calculate” = “On price change”. It is not necessary to recalculate it with each incoming tick.
Trading hours template: The trading hours template should be set to <instrument settings> or any other trading hours template that reflects the contractual trading hours of the instrument.
Full_Session: The VWAP will be calculated for the full session as selected per trading hours template.
Custom_Hours: You may select custom hours for calculating the VWAP in different time zones.
Standard_Deviation: The volatility bands are calculated as a selectable multiple of the standard deviation, where the standard deviation is calculated for the selected session and week.
Quarter_Range: The volatility bands are calculated as a selectable multiple of the quarter range for the current month.
Accuracy: The indicator calculates both VWAP and volatility bands from the primary bars shown on the chart. All data points of each bar are used for the calculation in order to obtain the best possible result. However, accuracy also depends on the chart resolution. Accuracy increases as trading volume accumulates.
The Current Month VWAP is the volume-weighted average price (VWAP) of a security for the current month. The VWAP gives a fair reflection of the market conditions throughout the trading month and is one of the most popular benchmarks used by large traders.
The Current Month VWAP can be set to calculate for the entire trading month or it can be set to calculate for custom hours such as the regular session only. The VWAP further comes with volume-weighted standard deviation bands or quarter range bands. Although the VWAP uses volume information, it is best set to “Calculate” = “On price change”. It is not necessary to recalculate it with each incoming tick.
Trading hours template: The trading hours template should be set to <instrument settings> or any other trading hours template that reflects the contractual trading hours of the instrument.
Full_Session: The VWAP will be calculated for the full session as selected per trading hours template.
Custom_Hours: You may select custom hours for calculating the VWAP in different time zones.
Standard_Deviation: The volatility bands are calculated as a selectable multiple of the standard deviation, where the standard deviation is calculated for the selected session and week.
Quarter_Range: The volatility bands are calculated as a selectable multiple of the quarter range for the current month.
Accuracy: The indicator calculates both VWAP and volatility bands from the primary bars shown on the chart. All data points of each bar are used for the calculation in order to obtain the best possible result. However, accuracy also depends on the chart resolution. Accuracy increases as trading volume accumulates.
May 5th, 2020 11:46 PM podowitz Rated 5 stars for its promise and all the hard work...and also doing something for N7, which I still use. Would it be po
ssible to code an up arrow on the screen when MACD crosses above its signal line, and a down arrow when it crosses below
its signal line? (Not crosses above or below zero line, but actual crosses of the indicator parameters.) I don't like l
ooking at panel indicators; I prefer to watch price and indicator action right on the chart. Can this be done?
Thanks,
Steve.
March 19th, 2019 05:47 AM romus
March 10th, 2019 02:34 PM gringa thanks! looks very promising!
February 5th, 2021 12:23 PM mzapata24 can not be imported at Nt8
January 2nd, 2021 05:38 PM andreibara Not able to import this one as well. For those who were able to make it work, does it require a particular configuration
? You can message me as well if you don't want to leave a rating.
October 29th, 2020 12:56 PM Jonsell Not importing, needs to be updated with current NT8.
April 25th, 2024 04:47 AM PAFIAPT Gracias por compartir. Buen indicador. Muy práctico y sencillo de interpretar.
April 20th, 2024 06:37 AM Andreikoan
April 17th, 2024 01:04 PM MrTrader
April 14th, 2024 01:42 PM luv2trade I love this indicator. Gives me all the info I need from the footprint chart without having to have all the numbers as
a typical footprint chart!
April 13th, 2024 10:00 AM ballhaj thank you very much