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Volume Graph indicator
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Created: by Big Mike Attachments:3

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Volume Graph indicator

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Volume Graph indicator

I wrote this indicator because I like to look at Volume, but wanted something different than just "green=higher volume, red=lower volume".

So, this indicator uses a sophisticated exponential Linear Regression Slope method to determine if the Volume color should be Up or Down.

It also adds an average to quickly identify volume spikes.

I'm still determining its usefulness, but wanted input.

You can download it here:
View Download Details - Big Mike Trading Forum

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Mike

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  #2 (permalink)
Elite Member
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Posts: 29 since Jun 2009
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Ahhh - Volume..

Like you I have been looking at Volume (for a while now).

Anyway - thought you might like to check this .....

Like many other indicators - in hindsight it makes it easy to see failure points. However, used with a good divergence indicator it could be useful...

I have attached an image of an 4000 volume ES chart (Friday although the timezone is Australia so the 4.30 in the bottom right of chart equates to 2.30pm est) - its close to your preferred setting, but the round number makes it easier to see what the indicator is doing..

The swing volume numbers are 'boxed' if the total is greater than the Average Swing Volume shown in the bottom left.

The Swing logic is a modified ZigZagUTC as posted in the Ninja forum.

I can attached the Indicator if there is any interest in it...

Attached Thumbnails
Volume Graph indicator-swing-volume-example-1.jpg  
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  #3 (permalink)
Site Administrator
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Platform: My own custom solution
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rt-trader View Post
Ahhh - Volume..

Like you I have been looking at Volume (for a while now).

Anyway - thought you might like to check this .....

Like many other indicators - in hindsight it makes it easy to see failure points. However, used with a good divergence indicator it could be useful...

I have attached an image of an 4000 volume ES chart (Friday although the timezone is Australia so the 4.30 in the bottom right of chart equates to 2.30pm est) - its close to your preferred setting, but the round number makes it easier to see what the indicator is doing..

The swing volume numbers are 'boxed' if the total is greater than the Average Swing Volume shown in the bottom left.

The Swing logic is a modified ZigZagUTC as posted in the Ninja forum.

I can attached the Indicator if there is any interest in it...



Very interesting. What patterns do you see, or what actions do you take based on the boxed volume numbers? From your chart I couldn't really see a specific price pattern.

I wonder what would happen if the indicator were modified to measure the volume across two swings instead of just one, to account for the fake outs/reversals, if there is some merit at looking at volume for both the point in which price initially makes a swing low and then retraces before heading lower again.

Mike

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  #4 (permalink)
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Mike,

I dont take action on the boxed numbers - they are just visual alerts that volume within the swing is building above average. I have found it best to apply a VSA mindset when looking at this.

So for example in the image shown, the lowest low has low volume (ie no interest) on the probe. If then another of your indicators gave you a long entry, you can be more confident taking it in the context of low/no continuation interest in the last swing down.

While you cant see it in the image, the developing swing point updates both price and volume progressively (although as with any swing indicator, there is a settings dependant lag before the developing swing point is 'locked in').

Anyway - have attached the indicator so you can experiment - the coding is very basic as I am not an adept coder. Someone with more skills may be able to take this further...

Attached Files
Register to download File Type: zip SwingVolume.zip (7.9 KB, 211 views)
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  #5 (permalink)
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Mike,

Have you found the volume graph to be effective, on either ZN or ES... If so, which chart timeframes do you use it on?

I looked at it on one of my ES charts but it's didn't help much...but I may have been looking at too short of a timeframe.

Todd

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  #6 (permalink)
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Todd View Post
Mike,

Have you found the volume graph to be effective, on either ZN or ES... If so, which chart timeframes do you use it on?

I looked at it on one of my ES charts but it's didn't help much...but I may have been looking at too short of a timeframe.

Todd

Yes, some. Not much. I use it on a 4 range chart, because my other two charts are volume charts.. and a volume graph on a volume chart is pointless

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
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If you want
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  #7 (permalink)
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I really like this indicator. (Volume Graph) Thank you.........I noticed it paints after the completion on the bar and wondered if this was normal... Also when the price marker(s) option......Set to "True", I don't have any........I am using a 4 R chart...

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  #8 (permalink)
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psnively View Post
I really like this indicator. (Volume Graph) Thank you.........I noticed it paints after the completion on the bar and wondered if this was normal... Also when the price marker(s) option......Set to "True", I don't have any........I am using a 4 R chart...

The method it uses to color the bars require calc on bar close to be true which is why it doesn't paint the current bar.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #9 (permalink)
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bp
 
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Can someone modify this swing volume to work on NT7 ? please

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  #10 (permalink)
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Big Mike View Post
I wrote this indicator because I like to look at Volume, but wanted something different than just "green=higher volume, red=lower volume".

So, this indicator uses a sophisticated exponential Linear Regression Slope method to determine if the Volume color should be Up or Down.

It also adds an average to quickly identify volume spikes.

I'm still determining its usefulness, but wanted input.

You can download it here:
View Download Details - Big Mike Trading Forum

Attachment 234

Mike

Hi Big Mike - I too like this indicator on Range Bars!! and Renko bars- I am trying to ad its conditions into my strategies. I am not great at C code - but think I noticed noticed that it should output a 1 & 2 for long and short volume trends? but i cannot seem to get it to work - can I modify the code to output a data series number for long trend short trend (upvolume downvolume plots) and then be able to filter strategy entry with this info? help please - any advise on how I can go about doing this, input much appreciated!! :-) michael

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