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Cory's VolumeStopV3 (and now V4) - Worth A Look!
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Cory's VolumeStopV3 (and now V4) - Worth A Look!

  #441 (permalink)
Market Wizard
virginia
 
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cory View Post
tips:
5m chart
-yes, you can expand it to see the harsh marks better.
-track the harsh marks closely when they switch from - to + to feel the market mood.
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time for more testimonial...
Note: this is from advertise materials sent to me, I cut & paste relevant stuff
------------------
Yesterday, I received an email from a client that just started using the Directional Volume indicator. While the Directional Volume indicator looks a little overwhelming initially, the breakdown is simple:

Price action is incorporated into the volume indicator. Highs are identified with blue volume bars. Lows are represented by red volume bars. Outside bars are shown as magenta volume bars and an inside bar is gray.
Each volume bar shows the cumulative volume of both buying and selling
The portion above zero indicates buyers. The portion below zero indicates sellers.
The small hash mark ("-") shows who controlled the bar as it closes (buyers vs sellers).
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That is a lot of information packed into the volume bars. However, it is the same information that is used in market profile and cumulative delta. I studied cumulative delta for over 2 years but the one issue I had is that the information displayed is overwhelming and multi-tasking is a must. Quite often I would miss a trade because I was busy analyzing the cumulative delta. The more markets you trade, the more likely it is that you will miss a trade. Therefore, I took what I knew and designed the Directional Volume indicator.

The client that sent the email has more than 30 years of experience trading the markets. He has traded professionally, as well as his own personal accounts. He is also a follower of market profile and footprint charts. Here is his take on the Directional Volume indicator with the Trend ATR and ATR support and Resistance indicators:


Quoting 

"I am a long time user of Market Profile and the Fin. Alg. version of footprint. I have been running your Directional Volume indicator against Foot Print just to see how they compare. I am going to say that anyone scalping or day trading that doesn’t use ATR and Directional Volume together is crazy…….. I picked up on the value of Directional Volume quickly because I was running footprint against it . I am getting the same info from Directional Volume as from foot print but in a simpler form, easier to interpret . Again , I know I’ve been doing this a long time but these two indicators will make anyone’s trading easier. I love volatile markets [gold, crude] and using ATR and Directional Volume on them is great. Hope the new year is good to you. Take care."

Note: it's at the level of both Market Profile and footprint and cumulative delta

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  #442 (permalink)
Market Wizard
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Wow, really interesting...

@cory I can't believe that I'v missed this for YEARS. I'll try to get smart and see if I can keep up. Dan

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  #443 (permalink)
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cory View Post

Price action is incorporated into the volume indicator.

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Please, if this indicator is available for NT8, can you point where the download link is?
I can't find it.
Thanks

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  #444 (permalink)
Market Wizard
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guidoisot View Post
Please, if this indicator is available for NT8, can you point where the download link is?
I can't find it.
Thanks

the indicator looks like mine but its from a vendor.
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they sell it for close to $300, the vendor is traders help desk dot com.


Last edited by cory; February 6th, 2018 at 08:55 AM.
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  #445 (permalink)
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thank you for your (interesting!) reply.
I suppose your first indicator was for NT7, in such case could you perhaps convert it to NT8, ... with or without possible additional features you might have been thinking in the meantime.
as an example, .. I dare to say ..., adding a marker telling how close in % of the VA the end of a a bar is vs either the VAH or the VAL could also be interesting.
Best

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  #446 (permalink)
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Thank you Cory!

The your Vol stop indy has become one of the main elements of my entry chart. Been using it for over a year now and absolutely Love it! Thank you good Sir

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  #447 (permalink)
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cory View Post
the indicator looks like mine but its from a vendor.
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they sell it for close to $300, the vendor is traders help desk dot com.

Hey @cory,

Looks like a great Indy, have you made a shot at converting this to NT8?

Nil per os
-NJAMC [Generic Programmer]

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  #448 (permalink)
Market Wizard
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NJAMC View Post

Looks like a great Indy, have you made a shot at converting this to NT8?

no, since the indicator uses gom bid/ask recorder, which is not free for NT8.

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  #449 (permalink)
Market Wizard
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NJAMC View Post

Looks like a great Indy, have you made a shot at converting this to NT8?

njamc,

check #351 https://futures.io/ninjatrader/885-cory-s-volumestopv3-now-v4-worth-look-36.html#post494012
check $404 https://futures.io/ninjatrader/885-cory-s-volumestopv3-now-v4-worth-look-41.html#post496913

yeah, you can try to convert it to NT8, it needs Gom recorder for history bid/ask data or comparable data

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  #450 (permalink)
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cdkmbjones View Post
It works very well on many cart types but specifically I have found it is very accurate on a 1500 volume chart on the NQ, which I trade.

I know this thread is old, but how can this indicator work well on a volume chart? On a 1500 volume chart, the volume will show 1500 contracts per bar by default right? So how will you determine increasing / decreasing volume given a volume chart? I guess I'm missing something?

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