NexusFi: Find Your Edge


Home Menu

 





Better Volume Indicator with Sound Alerts


Discussion in NinjaTrader

Updated
      Top Posters
    1. looks_one Fat Tails with 81 posts (297 thanks)
    2. looks_two rcabri with 8 posts (3 thanks)
    3. looks_3 sudhirc with 8 posts (3 thanks)
    4. looks_4 danjuma with 8 posts (0 thanks)
      Best Posters
    1. looks_one Zondor with 7.3 thanks per post
    2. looks_two l1onel with 4.5 thanks per post
    3. looks_3 Fat Tails with 3.7 thanks per post
    4. looks_4 Big Mike with 0.8 thanks per post
    1. trending_up 116,979 views
    2. thumb_up 364 thanks given
    3. group 82 followers
    1. forum 218 posts
    2. attach_file 49 attachments




 
Search this Thread

Better Volume Indicator with Sound Alerts

  #31 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


rdaune View Post
Hello all,

I have a little ėssue 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.


Attached Thumbnails
Click image for larger version

Name:	CL 07-11 (5 Min)  03_06_2011.jpg
Views:	471
Size:	95.0 KB
ID:	40675  
Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Deepmoney LLM
Elite Quantitative GenAI/LLM
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
Exit Strategy
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
36 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
The Program
20 thanks
GFIs1 1 DAX trade per day journal
19 thanks
  #32 (permalink)
 Ralph07 
London UK
 
Experience: Advanced
Platform: NinjaTrader, TT
Broker: Mirus
Trading: CL, Dax, ES, Eurostoxx50
Posts: 121 since Oct 2010
Thanks Given: 23
Thanks Received: 46

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
Click image for larger version

Name:	Better volume CC.jpg
Views:	510
Size:	238.7 KB
ID:	40677  
Reply With Quote
  #33 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102



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.



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.


Started this thread Reply With Quote
Thanked by:
  #34 (permalink)
 vitvit111 
Singapore
 
Experience: Intermediate
Platform: NinjaTrader
Trading: EUR/USD
Posts: 1 since Jun 2011
Thanks Given: 0
Thanks Received: 1

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
Thanked by:
  #35 (permalink)
 yiman 
London
 
Experience: Intermediate
Platform: ninjatrader, multicharts, MT4
Broker: IB, PFG Best
Trading: 6E, EMD, TF
Posts: 265 since Jul 2009
Thanks Given: 111
Thanks Received: 158

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)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


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:



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



Started this thread Reply With Quote
  #37 (permalink)
 TraderG 
Toronto
 
Experience: Intermediate
Platform: NinjaTrader, TOS
Broker: Rithmic
Trading: CL
Posts: 17 since Aug 2009
Thanks Given: 1
Thanks Received: 9

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)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


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.

Started this thread Reply With Quote
Thanked by:
  #39 (permalink)
 TraderG 
Toronto
 
Experience: Intermediate
Platform: NinjaTrader, TOS
Broker: Rithmic
Trading: CL
Posts: 17 since Aug 2009
Thanks Given: 1
Thanks Received: 9


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)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102



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

Have updated the file here:



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.

Started this thread Reply With Quote




Last Updated on October 12, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts