Is there an indicator that shows price change averaged with volume change intrabar?

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Is there an indicator that shows price change averaged with volume change intrabar?

I was curious if there is an indicator that shows a graph of the speed at which volume increased averaged with the rate at which price changed that can calculate intra bar data?
Thanks

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Answer

This post has been selected as an answer to the original posters question

My understanding is that you want something to show the relative price momentum compared to volume momentum. This may be shown by the ratio of the two momentum. See if this is what you want.

1. (A) number of ticks price has moved in any direction since the (T) last user defined unit of time. For instance, If price moved up one tick and down one tick twenty times, We'd have a twenty count for (A). To give the desired effect that count would be averaged with (B) the directional ticks price has moved since (T), Which would equal (C)
(A+B)/2 = C

2. (X) Total volume since (T) divided by (Y) the average lot size traded since (T), Would equal (Z)
(X+Y)/2 = Z

(C+Z)/2=W

W, C, And Z would plotted similar to a ADX indicator.

I don't even know if this would be possible with NT, But I thought it already existed in some form or another since it's a good idea.

Last edited by Itchymoku; July 31st, 2012 at 05:06 AM.

Regardless of the outcome being useful, Is it possible to gather that information and apply it to an indicator on an ordinary time based chart - tick count or time and sales data?

You can almost code anything with NinjaTrader. The question is not what Ninjatrader can do.

- A is tickCount for period T.
- The directional ticks over a period T is called momentum expressed in ticks.
- The formula is an arithmetic mean calculated from tickCount and tickMomentum.

This has no meaning. If you calculate a ratio, that would indicate how many ticks are required to bring price one tick forward. Are you talking about a ratio or an arithmetic mean?

Please explain your ideas-

If you divide the total volume by the average lot size, you get the number of ticks for the period T, which is A. However, in your formula you do not divide, but suggest an arithmetic mean. The arithmetic mean of volume and average lotsize has no meaning. The value will be near-identical with volume. Volume can be 50,000 and average lot size can be 10, so you would get (5,000 + 10)/2 = 2505 which is nonsense.

Please explain your ideas.

As long as (1) and (2) do not make sense, this is garbage in - garbage out. This has absolutely nothing to do with the ADX and cannot be plotted in a similar way.

Please rethink the concept, share your ideas and then show us an example, which you have calculated manually with the results. NinjaTrader allows you to code everything.