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I know people love this indicator a lot , could anybody just point out some basic rules of using this indicator? what is triangle? what is diamond? and what are those dot lines?
thanks
Can you help answer these questions from other members on NexusFi?
At first, a big THANKS to Cory for his great efforts here at futures.io (formerly BMT).
I need help in understanding the VolumeStopV4 indicator for NT. Can someone please tell me where I can find the basics or explain it to me. Have searched her, but didn´t find a explanation.
What is the meaning of the highligted blue and orange volume bars?
that is where the signal takes place, triangle = strong signal, diamond = weak signal. All signals are reversal signals.
But what causes the reversal ? I read the basics about Volume Spread Analysis but didn´t grasp it really.
Am I right when assuming that change in volume occurs meaning, high up volume (no supply) on the blue bars and high down volume (no demand) on the orange bars?
Thanks for all your work and generous sharing of the indicator. As imported the "Calculate on bar close" is set to "False". I presume that the correct setting is "True" correct?
Thanks but that wasn't my greatest concern. If I have the indicator wait until bar close will the signal be more reliable? I notice that it gives good signals on 30 min charts but some bars are very large so False is definitely the prefered setting if the pre-close signals are reliable. I trade off of 5 min ES charts but I wonder if it might be advisable to compliment my charts with 2 point range chart? It appears that a lot of false signals are generated on 5 min charts.
