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Better Volume Indicator with Sound Alerts


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Better Volume Indicator with Sound Alerts

  #151 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
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kiasucapital View Post
HI I have been using Better Volume, for a couple of years now and love this indicator, but find it has one really annoying characteristic. Every time a new bar prints i need to refresh the data in order to get the correct bar color, otherwise it often prints a false one, usually magenta.

Once I refresh the data it's fine, until the next bar.

Does anyone know how to fix this? is it a setting problem?

Thanks in advance hope someone has the answer.


Did you download the latest version of the indicator?

The anaBetterVolume indicator here



does not plot false colors intra-bar.


Magenta bars point to a wide ranging high volume bar. This color is final.

Yellow bars are churn bars, which can disappear intra-bar, if the range expands on low volume.

White bars are low volume bars, which will only be detected when a bar is near completion.


If you have a problem, it is also possible that you have a cheap data provider and that your real-time volume is not consistent with historical volume.

When you refresh via F5, real-time volume is replaced with historical volume, which is consistent with the prior bars.

In such a case you would need to change your data supplier.

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  #152 (permalink)
 kiasucapital 
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Hi Thanks guys I have downloaded the latest version, I have tried setting "on bar close" to False, but I still have the same problem. I think it probably is my data supplier, since it's a free data supplier that makes the most sense.

Thanks for the help. Better Volume is definitely one of the best indicators I've ever had for understanding what's going on in markets.

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  #153 (permalink)
 
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 Fat Tails 
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hunter548 View Post
Fat Tails,

I just started using this indicator as I learn more about the usefulness of volume movement and I really like it. In comparing it to the E-Mini Watch version, I was curious about whether you found that having just a single Break Out/Climax bar indicator was just as effective or perhaps more effective than having separate Climax Up & Climax Down bar indicators? It seemed to me that separate Up/Down Climax bars might be the way to go, but as you're the creator, I thought you might have more insight. Or perhaps it would have been just a pain in the "Tail" to program, so to speak.

The Better Volume indicator is an old indicator, which - as far as I know - was developed by Barry Taylor from Emini Trading & How to Day Trade | Emini-Watch.com. I have first seen it on the NinjaTrader forum, and then made a few improvements. Currently, there are several versions available

-> an official release by emini-watch.com Better Volume Indicator for [AUTOLINK]NinjaTrader[/AUTOLINK] 7 | Emini-Watch.com
-> another version available on the NinjaTrader forum Links and Downloads Manager - [AUTOLINK]NinjaTrader[/AUTOLINK] Support Forum
-> anaBetterVolume:

The indicator is very useful for understanding volume, but has its limitations when directly used for intraday trading. One of the major problems is that it looks for a new 20-bar high for volume or range. This does not work in the beginning of the regular session. On an ETH chart the indicator overreacts due to low pre-session volume. On a RTH chart the indicator does not find any exiting bars as long as the current bars are compared against the closing volume of the prior session. For example, if you use the indicator on a 3 min chart, you cannot rely on any signals during the first hour of the regular session.

Volume spread analysis (VSA) is certainly a good approach, but this indicator needs to be further developed to become a useful tool.

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  #154 (permalink)
 
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 JDNeeman 
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Hello @Fat Tails,

First: I really thank you for you great indicators and for sharing here, they really help on trading without a doubt,
Second: It is possible for you to rethink the better volume indicator using the Relative volume setup??, have the climax up and down, the churn bar etc... but applied to the relative volume?? I have seen and I´m quite sure it is your very code... at trade-the-plan dot com website somethig similar, the idea tough seems interesting...




Thank you and Best Regards!!

JD


Fat Tails View Post
The Better Volume indicator is an old indicator, which - as far as I know - was developed by Barry Taylor from Emini Trading & How to Day Trade | Emini-Watch.com. I have first seen it on the NinjaTrader forum, and then made a few improvements. Currently, there are several versions available

-> an official release by emini-watch.com Better Volume Indicator for [AUTOLINK]NinjaTrader[/AUTOLINK] 7 | Emini-Watch.com
-> another version available on the NinjaTrader forum Links and Downloads Manager - [AUTOLINK]NinjaTrader[/AUTOLINK] Support Forum
-> anaBetterVolume:

The indicator is very useful for understanding volume, but has its limitations when directly used for intraday trading. One of the major problems is that it looks for a new 20-bar high for volume or range. This does not work in the beginning of the regular session. On an ETH chart the indicator overreacts due to low pre-session volume. On a RTH chart the indicator does not find any exiting bars as long as the current bars are compared against the closing volume of the prior session. For example, if you use the indicator on a 3 min chart, you cannot rely on any signals during the first hour of the regular session.

Volume spread analysis (VSA) is certainly a good approach, but this indicator needs to be further developed to become a useful tool.


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  #155 (permalink)
 rlygangesh 
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Fat Tails View Post
The Better Volume indicator is an old indicator, which - as far as I know - was developed by Barry Taylor from Emini Trading & How to Day Trade | Emini-Watch.com. I have first seen it on the NinjaTrader forum, and then made a few improvements. Currently, there are several versions available

-> an official release by emini-watch.com Better Volume Indicator for [AUTOLINK]NinjaTrader[/AUTOLINK] 7 | Emini-Watch.com
-> another version available on the NinjaTrader forum Links and Downloads Manager - [AUTOLINK]NinjaTrader[/AUTOLINK] Support Forum
-> anaBetterVolume:

The indicator is very useful for understanding volume, but has its limitations when directly used for intraday trading. One of the major problems is that it looks for a new 20-bar high for volume or range. This does not work in the beginning of the regular session. On an ETH chart the indicator overreacts due to low pre-session volume. On a RTH chart the indicator does not find any exiting bars as long as the current bars are compared against the closing volume of the prior session. For example, if you use the indicator on a 3 min chart, you cannot rely on any signals during the first hour of the regular session.

Volume spread analysis (VSA) is certainly a good approach, but this indicator needs to be further developed to become a useful tool.

hi sir
i have one suggestion to improve this indicator, can we use relative volume instead of using last 20 bar for volume comparison,
lets assume if we are analyzing first 5 min candle of open than we may compare of today 5 min bar with 5 min opening bar of last 20 days, so we can analyze not also today opening candle but also we may analyze choppy time of noon session more correctly

i am not a programmer so i can't work this idea myself
sorry for that

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  #156 (permalink)
 
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 Fat Tails 
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rlygangesh View Post
hi sir
i have one suggestion to improve this indicator, can we use relative volume instead of using last 20 bar for volume comparison,
lets assume if we are analyzing first 5 min candle of open than we may compare of today 5 min bar with 5 min opening bar of last 20 days, so we can analyze not also today opening candle but also we may analyze choppy time of noon session more correctly

i am not a programmer so i can't work this idea myself
sorry for that


You are absolutely correct. Your suggestion makes sense. I will look into this for NinjaTrader 8 once I have built simpler indicators.

Also I know of one commercial indicator for NinjaTrader 7 that bases analysis on relative volume, but have not seen a free version so far.

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  #157 (permalink)
 
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 sudhirc 
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Hi Harry, @Fat Tails

Can you please tell me when NT8 Version will be available?

Thank you,
Sudhir

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  #158 (permalink)
 
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 Fat Tails 
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sudhirc View Post
Hi Harry, @Fat Tails

Can you please tell me when NT8 Version will be available?

Thank you,
Sudhir


I am doing my best to code all the stuff for NinjaTrader 8. Currently, I have completed 87 open source indicators (ama-Series).

I think it will take until March to complete the translation of all ana-indicators.

The Better Volume indicator is not top priority, so it may take until February or March.

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  #159 (permalink)
 planetmoto 
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Fat Tails View Post
I am doing my best to code all the stuff for NinjaTrader 8. Currently, I have completed 87 open source indicators (ama-Series).

I think it will take until March to complete the translation of all ana-indicators.

The Better Volume indicator is not top priority, so it may take until February or March.

Side question have you put any thought into codng up improved versions of the better sine, pro-amateur bars as well. I do have the originals, and it looks like Barry has moved into consolidating the three time frames into one chart and having the cluster of all three confirm entries. Would love to see a FatTails version of this and think most wouldn't even mind paying something for that. Would be great to get your thoughts, thank you

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  #160 (permalink)
 planetmoto 
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planetmoto View Post
Truly appreciate all your contributions to the forum; side question have you considered codng up improved versions of the better sine, pro-amateur bars as well. I do have the originals on TS, and it looks like Barry has moved into consolidating the three time frames into one chart and having the cluster/confluence of all three confirm entries on a single 500tick chart. Would love to see a FatTails version of this and think most members would pay something for your time and work. Would be great to get your thoughts, thank you.

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