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Volume Zones vs GOM indicator
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Volume Zones vs GOM indicator

  #1 (permalink)
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Volume Zones vs GOM indicator

I am looking for an indicator that shows the volume transacted plotted as horizontal bar at each price. I come across Volume Zones Indicator provided by Ninjatrader and GOM indicator (e.g GOM volume ladder) thanks to the contribution at your forum. Which one should I use, and what are the main differences? I would like to use it for day trading on 10min chart.

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  #2 (permalink)
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try the gom mp I think you will be happy.

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  #3 (permalink)
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lawtan View Post
I am looking for an indicator that shows the volume transacted plotted as horizontal bar at each price. I come across Volume Zones Indicator provided by Ninjatrader and GOM indicator (e.g GOM volume ladder) thanks to the contribution at your forum. Which one should I use, and what are the main differences? I would like to use it for day trading on 10min chart.

VolumeZones is a simple indicator, which divides the volume shown on the visible part of the chart into a number of zones. The maximum permitted number of zones is 20. To divide the volume between the 20 layers, the volume of each bar is considered as being volume at close. The indicator does not diffentiate between bid and ask traded volume.

The GOM volume ladder shows the volume intrabar as bid and ask traded volume, the delta being the difference between the two.Also the volume is not divided into zones, but shown as volume traded per tick. The GOM volume ladder thus has both more information and a higher resolution.

The two indicators cannot be compared. The first one can be used to identify areas on the chart with high volume. However, it is completely useless,as it defines the lookback period as the visible section of the chart. If you really want to monitor volume zones, you should take an indicator which identifies volume zones per session, identifies the peak volume (point of control) and the upper and lower limits of the value area. You can start with the dValueArea indicator which is available in the download section of the NinjaTrader forum as per link below

Links and Downloads Manager - NinjaTrader Support Forum

or you can look for other market profile indicators.

In the contrary, the GOM volume ladder will allow you to do analysis of market microstructure. There are identifiable patterns in the shift from bid to ask traded volume that can be exploited by a trader. For more details see the various threads on the GOM indicators.

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  #4 (permalink)
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Fat Tails View Post

The GOM volume ladder shows the volume intrabar as bid and ask traded volume, the delta being the difference between the two.Also the volume is not divided into zones, but shown as volume traded per tick. The GOM volume ladder thus has both more information and a higher resolution.

The two indicators cannot be compared. The first one can be used to identify areas on the chart with high volume. However, it is completely useless,as it defines the lookback period as the visible section of the chart. If you really want to monitor volume zones, you should take an indicator which identifies volume zones per session, identifies the peak volume (point of control) and the upper and lower limits of the value area. You can start with the dValueArea indicator which is available in the download section of the NinjaTrader forum as per link below

Links and Downloads Manager - NinjaTrader Support Forum

or you can look for other market profile indicators.

In the contrary, the GOM volume ladder will allow you to do analysis of market microstructure. There are identifiable patterns in the shift from bid to ask traded volume that can be exploited by a trader. For more details see the various threads on the GOM indicators.

Thanks Fat Tails for your clarification. Is it true that if I use GOM based indicator e.g. MP or Vol Ladder, I have to turn on my PC all the time to capture the plot? If I start my PC late after the trading session has started, esp Futures contracts, and would like the plot on historical data, is it possible to do it?

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  #5 (permalink)
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lawtan View Post
Thanks Fat Tails for your clarification. Is it true that if I use GOM based indicator e.g. MP or Vol Ladder, I have to turn on my PC all the time to capture the plot? If I start my PC late after the trading session has started, esp Futures contracts, and would like the plot on historical data, is it possible to do it?

Yes that is true, but you can turnaround by running the NT replay function #155 at https://futures.io/elite-circle/7279-official-gomrecorder-data-sharing-thread-16.html

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lawtan View Post
Thanks Fat Tails for your clarification. Is it true that if I use GOM based indicator e.g. MP or Vol Ladder, I have to turn on my PC all the time to capture the plot? If I start my PC late after the trading session has started, esp Futures contracts, and would like the plot on historical data, is it possible to do it?

for the Gom MP indicator it's not true. if you select "minute data" under data source, you can turn off your computer or can start after the session opening and you still have all the historical data.

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  #7 (permalink)
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GOM MP

here's a picture where you can see how to change the data source to minute data.

I was testing the indicator with both settings (gom file and minute data). couldn't see a big difference.

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Volume Zones vs GOM indicator-2011-07-07_1154.png  
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Silvester17 View Post
for the Gom MP indicator it's not true. if you select "minute data" under data source, you can turn off your computer or can start after the session opening and you still have all the historical data.

Turn off your computer? As in switched off? But you're not logged in?

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  #9 (permalink)
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Bob324 View Post
Turn off your computer? As in switched off? But you're not logged in?

it doesn't matter. you can just exit ninjatrader and restart or you can shut down your computer. with minute data you always have historical data for your MP indicator.

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