Better Volume Indicator with Sound Alerts - NinjaTrader | futures io social day trading
futures io futures trading


Better Volume Indicator with Sound Alerts
Updated: Views / Replies:59,507 / 162
Created: by Fat Tails Attachments:24

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 24  
 
Thread Tools Search this Thread
 

Better Volume Indicator with Sound Alerts

  #31 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


rdaune View Post
Hello all,

I have a little ́ssue with the better volume : it is drawing quite every bars in yellow, and I would like to keep up bars in green and down bars in red when there is no Climax, Churn or climaxchurn...

Look at the screenshot...

Is it possible to do so?

Thanks for help.

@rdaune: Did you realize that you use the false indicators on the wrong chart ?

Step by step:

(1) Better Volume looks at trader participation by exploring range and volume versus time. If you use it on a range chart, there are no wide ranging bars by definition, so the indicator cannot identify breakout or climax bars. The Better Volume indicator should not be used on range charts. You may replace range with momentum - that is the meaning - but then the indicator needs to be recoded in a different way, by calculating the duration of the range bar.

(2) The PaintBar version is not the Better Volume with Sound Alerts that I have coded.

(3) The VWAP version that you use is heavily flawed, as

-> it often calculates false standard deviation bands
-> the algorithm is too slow for high resolution charts

There are two correct VWAPs around, one is the hVWAP which can be downloaded in the forum, the other one is VWAP that I have coded (not yet available in the download section), but you can find it in the thread on VWAP bands.

https://futures.io/ninjatrader/11097-vwap-volume-weighted-average-price-bands-4.html#post125266

Attached Thumbnails
Better Volume Indicator with Sound Alerts-cl-07-11-5-min-03_06_2011.jpg  
Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
 
  #32 (permalink)
Elite Member
London UK
 
Futures Experience: Advanced
Platform: NinjaTrader, TT
Broker/Data: Mirus
Favorite Futures: CL, Dax, ES, Eurostoxx50
 
Posts: 121 since Oct 2010
Thanks: 23 given, 46 received

Hi Fat Tails,

Thanks a lot for your answer.

The range bars : In fact, I've already discussed that with Private Banker, and we use it in the same way : if we have a break-out, we wait for a confirmation with a Climax or Climaxchurn bar... look at the screenshot... It seems to be working fine, but, in your opinion, is it only "luck", does those bars really does not mean anything?

For the vwap : I am facing this issue since a while, honestly I have some difficulties to configure it correctly...
I am going to try again and will post a screenshot here. If you are OK to look at it, it would be great. or perhaps can you post a screenshot with your settings? In fact I trade both European and US session...

Thanks a lot again.

Attached Thumbnails
Better Volume Indicator with Sound Alerts-better-volume-cc.jpg  
Reply With Quote
 
  #33 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary



rdaune View Post
The range bars : In fact, I've already discussed that with Private Banker, and we use it in the same way : if we have a break-out, we wait for a confirmation with a Climax or Climaxchurn bar... look at the screenshot... It seems to be working fine, but, in your opinion, is it only "luck", does those bars really does not mean anything?

The problem with Better Volume is that it uses VSA or volume spread analysis. The volume per time unit is an indicator for trader participation, the range shows how fast price moves during the fixed period of the bar, so the range is actually a proxy for momentum!

If you have a range chart, you cannot do range analysis. So the indicator cannot work. But agaiin range is only a porxy for momentum, and of course you can measure momentum on range bars, but you would not measure it via the range, which is fixed, but via the time that it takes to form a bar. This means that the BetterVolume indicator can be adapted to work on range charts, but it requires a different formula.

In its current form, high momentum bars cannot be detected by the BetterVolume indicator on range charts, so you get no reliable information on breakout and climax bars. The only thing it might correcrtly identify are churnbars. I have already started coding a version that works on range charts, but it is not yet finished, as I have too many projects in parallel. You can find it here.

https://futures.io/traders-hideout/634-how-use-volume-your-trading-53.html#post113668

But the project is not yet finished.


rdaune View Post
For the vwap : I am facing this issue since a while, honestly I have some difficulties to configure it correctly.. I am going to try again and will post a screenshot here. If you are OK to look at it, it would be great. or perhaps can you post a screenshot with your settings? In fact I trade both European and US session.

The VWAP does not belong here, please post your screenshot in the thread below. I will try to answer your questions.
My version of the VWAP can plot within any session of the template (RTH) or for the whole trading day.. It allows three different options to calculate the volatility bands.

https://futures.io/ninjatrader/11097-vwap-volume-weighted-average-price-bands.html

Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
  #34 (permalink)
Elite Member
Singapore
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: EUR/USD
 
Posts: 1 since Jun 2011
Thanks: 0 given, 1 received

Many thanks for this helpful indicator.

I'm new to this forum. But I've already learned a lot.

Thanks again, Fat Tails.

Reply With Quote
The following user says Thank You to vitvit111 for this post:
 
  #35 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: ninjatrader, multicharts, MT4
Broker/Data: IB, PFG Best
Favorite Futures: 6E, EMD, TF
 
Posts: 256 since Jul 2009
Thanks: 109 given, 145 received

Better vol

Thanks for another great indicator. I would like to make a suggestion to have the option of colouring the bars. Love the sounds by the way.

Reply With Quote
 
  #36 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary

Better Volume Indicator Updated


yiman View Post
Thanks for another great indicator. I would like to make a suggestion to have the option of colouring the bars. Love the sounds by the way.

With the help of @Silvester17 I have added a paint bar study to the Better Volume indicator.

The updated version can be downloaded here:

https://futures.io/download/ninjatrader-7/indicators/856-download.html?view

The update includes a paintbar only version, which does not show the lower panel.


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Last edited by Fat Tails; January 17th, 2012 at 06:23 PM.
Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
 
  #37 (permalink)
Elite Member
Toronto
 
Futures Experience: Intermediate
Platform: NinjaTrader, TOS
Broker/Data: Rithmic
Favorite Futures: CL
 
Posts: 17 since Aug 2009
Thanks: 0 given, 9 received

Is it possible to access each of the different bar types (climax, churn, etc) in a strategy. I will like to use the indicator for confirmation. Thank you.

Reply With Quote
 
  #38 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


TraderG View Post
Is it possible to access each of the different bar types (climax, churn, etc) in a strategy. I will like to use the indicator for confirmation. Thank you.

It is currently not possible to access the values in a strategy. To access those values the indicator first needs to be modified programmatically.

The modification is relatively easy. I could add an IntSeries, which gets a different value for each of the 10 different cases:

- strong climax churn bar
- strong climax bar
- strong churn bar
- weak climax churn bar
- weak climax bar
- weak churn bar
- low volume bar
- upclose other
- downclose other
- doji

You could then access the stored integer from a strategy.

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #39 (permalink)
Elite Member
Toronto
 
Futures Experience: Intermediate
Platform: NinjaTrader, TOS
Broker/Data: Rithmic
Favorite Futures: CL
 
Posts: 17 since Aug 2009
Thanks: 0 given, 9 received


Fat Tails View Post
It is currently not possible to access the values in a strategy. To access those values the indicator first needs to be modified programmatically.

The modification is relatively easy. I could add an IntSeries, which gets a different value for each of the 10 different cases:

- strong climax churn bar
- strong climax bar
- strong churn bar
- weak climax churn bar
- weak climax bar
- weak churn bar
- low volume bar
- upclose other
- downclose other
- doji

You could then access the stored integer from a strategy.


Could I trouble you to do this for me? I don't have programming skills

Reply With Quote
 
  #40 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary



TraderG View Post
Could I trouble you to do this for me? I don't have programming skills

Have updated the file here:

https://futures.io/download/ninjatrader-7/indicators/856-download.html?view

You can access the alerts via anaBetterVolume.BarCode. The value returned is an integer. The value depends on the volume event:

0 - strong climax churn bar
1 - strong climax bar
2 - strong churn bar
3 - weak climax churn bar
4 - weak climax bar
5 - weak churn bar
6 - low volume bar
7 - upclose other
8 - downclose other
9 - doji

I have not tested the modifications, I am counting on your feedback.

Reply With Quote
The following 4 users say Thank You to Fat Tails for this post:

Reply



futures io > > > > Better Volume Indicator with Sound Alerts

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Indicator that alerts me when candle is 10 pts or bigger wallsteetking NinjaTrader Programming 6 February 26th, 2015 02:50 PM
line breaking indicator with sound wanted ronan2505 NinjaTrader 6 June 5th, 2013 01:12 PM
? Audible alerts on Better Volume and VOLbased color kbandtheriptides NinjaTrader Programming 2 October 4th, 2010 07:03 PM
NinjaTrader indicator SuperTrend + audio alerts ojwright NinjaTrader 6 July 29th, 2010 02:54 AM
Adding sound files to indicator desander NinjaTrader Programming 2 November 16th, 2009 01:17 PM


All times are GMT -4. The time now is 10:14 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.11 seconds with 19 queries on phoenix via your IP 54.221.76.68