Just wanted to say I look forward to your NT port or rewrite. The indicator for TradeStation seems useful, as pictured on his website, but the NT version has always sucked.
I do believe others have tried to rewrite it, but all the ones I've tried suck. So unless the pictures on his website are cherry picked I think there is a real issue here. I'm using Zen Fire so have confidence in my data stream, I don't think the TradeStation stream is any better, so I think it's the interpretation of the port itself.
I wish you success!
Also, I look forward to more on this thread "How to use volume" because it's something that I have tried off and on many times and never really found to be beneficial for any type of trigger or filter. Sure, don't get me wrong, knowing if it is a light day or heavy day is important but I am talking about using Volume on a bar-by-bar basis to determine signals.
I have toyed with an indicator I call TimedBarSpan and have had some success. I will share it in VIP section. It has helped stay out of high volatility periods in strategies instead of just trying to exclude certain time periods around open/news.
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Rjay - thank you very much for working on this, I'm sure we're all going to appreciate it. I want to re-iterate, it's not to save $67. The reason I've been wanting to write my own is because there are things I'd like to tweak. So this is great.
I'm attaching a copy of my settings so you can see what I use. I suggest focusing only on low volume bar, and hi volume churn bar (both climax and regular). We can add the others later if needed.
I think the previous NT attempts had "churn". We're not interested in churn, only high volume churn.
Also, try yours out with 2097, 699, or 233 tick chart on ES. That way I can post mine at the end of the day and we can compare.
Hope this helps.
As for Mike's comments, if Gary purchased the official NT version he can post some charts and i can post mine and we can compare.
If you're using upticks & downticks, it should only work realtime on ninjatrader. This was a major problem for me cause I always like to go back and study previous days and do backtesting.
Here's my workspace. Today was totally untradeable so I didn't try other than a few trades on sim. So not much to point on volume-wise on the tick charts. I was expecting a bit more downside follow-thru today. We got average volume but nothing like the huge volume of yesterday. I wouldn't be surprised if we pullback a bit..
There are two indicators for tradestation, paintbar & volume bar. I'm not sure which one I posted the settings for but they're the same except for turning off the 3 climax bars.
It's too hard to compare a difference with so many colors. I suggest starting out with just low volume bars, those should be the easiest. Once we got those we can try HVC.
I think for breakouts the climax bars are interesting. For pullbacks the HVC & Low Volume bars are interesting. So it depends on how you want to use it. I hope to go into that in the thread, so far participation isn't that high and I'm not sure if people are reading the material or aren't interested. All we need is a few people.