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The following user says Thank You to Big Mike for this post:
My name is Haim and my trading expertise until now (8 years)
is with Index options (TA25 is the major Index here).
After many discussions with friends I decided to trade also
with currencies like the Euro-Dollar.
Due to that I start to read this wonderful and unique forum
and hopefully, with time, to participant more (question of time… )
My first post is here because I'm trying to use great indicator
Please see the attachment.
I start Ninja with the last bar that you see
My question is why the bands act like this, meaning, they suddenly been closed too much
Why is that and how can I fix that ?
I did not change the parameters (except of the VWAP plot style) – all is default.
Last edited by Haim1; December 26th, 2011 at 04:46 AM.
The volume weighted average is a calculation based on volume. Many data providers do not offer historical volume for currency pairs. In case that there is no volume, NinjaTrader will automatically assign the value 1 to every volume bar (to avoid division by zero problems). The last bar shows real-time volume, which is higher than the combined historical volume (bars of the session x 1) of all other bars of the session.
The indicator which you used, is an experimental version, which I had coded some 6 months ago. Please always use the updated versions, which can be found in the download section of the forum. Just search for "SessionVWAP" and "SessionTWAP".
Last edited by Fat Tails; December 26th, 2011 at 05:40 AM.
If you have an exchange traded instrument, it is very easy to provide volume information, as all trades are cleared through the exchange. FOREX pairs are not exchange traded instruments, but the FOREX markets are decentralized and no one is capable of adding up the volume information of all those FOREX markets.
If you trade FOREX pairs through an ECN broker, it would be possible to have the volume information of that network to be transmitted, but it would be incomplete.
For FOREX therefore price data depends on the broker who supplies it, and volume data is not available. Many FOREX data feeds supply tick volume instead of real volume.
The following 2 users say Thank You to Fat Tails for this post:
Hi Fat Tails! Thanks again for everything you do for us here. I am a big fan and use your indicators in my daily trading. Wanted to ask you if you saw my note about the paint bars on the indicator post? Would it be possible for you to allow the non hollow option in the code?