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How to use volume in your trading
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How to use volume in your trading

  #31 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
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RJay's Avatar
 
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Hi,

Didn't get a chance to work on the NT version of betterVolume today.

I'll work on it again tommarrow.

Here is where it was last night.

One chart has UseUpTicks turned on, the other has it turned off.


RJay

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  #32 (permalink)
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Better Volume

Yes, works in all time frames.

I'm postponing getting the Better Volume indicator to see if RJay can get the Ninja version going.

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  #33 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
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cunparis View Post
I turn Low Volume & High Volume Churn to true and I set climax up, climax down, and high volume churn to false. I got the idea from Barry (the author), this is how he uses it for daytrading with tick charts. For swing charts on daily timeframe I turn everything on as it doesn't move and I have time to interpret the colors.

I have my moving average at the default (20) and the use upticks & use two bars are both set to true.

Hope that helps.

Cunparis,

I need a clarification, you have high volume churn to both true and false.

Also, what do you set churn to?

Also attached is an assortment of settings.

Thanks,

RJay

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  #34 (permalink)
Site Administrator
Manta, Ecuador
 
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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.

Mike

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  #35 (permalink)
Trade with the flow
Paris, France
 
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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.

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  #36 (permalink)
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Cunparis,

So far so good.

I have cranked up the three tick charts.

I want to see the compared results with yours before messing with the "upTicks" issue.

RJay

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  #37 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
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cunparis,

Historic bars look different than live. I have added a live bars only mode option to this indicator. here's the screens you requested.

Opps, leftmost screen had the wrong settings. Sorry about that. The others are OK.

RJay

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  #38 (permalink)
Trade with the flow
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RJay View Post
cunparis,

Historic bars look different than live. I have added a live bars only mode option to this indicator. here's the screens you requested.

Opps, leftmost screen had the wrong settings. Sorry about that. The others are OK.

RJay

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..

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  #39 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
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cunparis,

The settings you posted this morning do not appear to be the same settings as on the charts.

Our charts are not even close.

I'm not sure if our indicators setups match.

Your settings have only 4 options set to true. Your charts have 5 options set to true.

I an readjusting my setting to match your charts.

Lets do this again tommarrow.

Put a hold on that cunparis, there is something going on with the original code changing the Bool values on its own.

RJay


Last edited by RJay; September 2nd, 2009 at 07:34 PM.
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  #40 (permalink)
Trade with the flow
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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.

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