Better Volume Beta

[goldfly]

EDIT 6/8/08 This indicator has been modified by it's creator. So not only is this translation beta, it's also deprecated. However as it is, people seem to find it useful, so I'll leave it here.......

http://emini-watch.com/free-stuff/volume-indicator/

THIS IS BETA.

Volume indicator from www.Emini-Watch.com (http://www.emini-watch.com/)
Props to Elliot Wave for showing me how to use "Pen"

THIS IS BETA.

The logic on this is pretty straight-forward, but until I get confirmation from someone who can compare it to the original version, it must be BETA.

If I knew how to link to the download section entry it would save uploading the stuff here too. But here goes.

[dwalls]

This looks very interesting. Thanks for getting it started.
I hope one of the experts coders can take a look and confirm your coding.
Thanks for sharing.

dwalls

[goldfly]

dwalls, yes that would be good, but I'm thinking more in terms of someone who has use of the original version and can compare output.

I just want to be sure that nobody relies too heavily on this without plenty of vetting.

As far as the results I've seen..... it is very interesting. It seems kind of obvious to the old hands at volume watching maybe, but having a graphic assist in picking out these areas could really come in handy.

[pdawg]

goldfly thanks, I just came across his site, and was going to work on translating it, but you beat me to the punch. Maybe we can take a screenshot or to and email the original author to compare what he has??

[Elliott Wave]

I think its fine.

The only thing I found was that the Volume moving average wasn't very responsive so I switched it to HMA and found it more useful...

Whether or not this matches perfectly with the original, its still quite useful.

:)

[goldfly]

Glad you like it Ewave. I just want to be careful that I don't mess somebody up if there is a variance.

As far as the VolMA is concerned, I don't consciously use it myself, but I like my charts to have some texture and not be stark lines so I keep it there.

And yes, some of this seems quite magical. When taken into consideration with other VSA principles, or whatever someone uses, it could be a big help.

[draime]

Hi

Could you share that with rest of us or is something private?


Props to Elliot Wave for showing me how to use "Pen"

[goldfly]

It's just a bit of programing. It allowed me to default the width of the certain bars.

If you open up the indicator in the ninja editor you can see what happens or look at this post
http://www.ninjatrader-support.com/vb/showpost.php?p=38264&postcount=9

[randyjb]

Thanks for porting this BetterVolume indicator over to NT. I happen to agree with the fellow at that site that volume IS one of the most neglected indicators in trading and this indicator is graphically very helpful.

I put the indicator on both a tick chart and a time based chart (3 Min) and most of the time it runs fine, but then all of a sudden it just starts popping up continuous ClimaxChurnBars..(the Magenta Bars). That happens on both tick and time based charts (at least for me personally) and I have to clear it by clicking on the chart and clicking on reload Ninjascript.

Do you happen to know what causes this? Everything else I am using runs like a charm and this does too, until it doesn't heh, heh. I much appreciate any assistance or suggestions.

Best Regards,
Randy

[Paul_J]

Try setting the "Calculate On Bar Close" to TRUE - it worked for me.

[goldfly]

Randy, yes Paul is right, it has to stay true to calc on bar close. Otherwise you'll get strange results

If you want to see volume develop during the current bar load VOL FIRST and set it to false. THEN load BetterVolume to the same panel.

Paul, thanks for reminding me where I saw that.

[randyjb]

Thanks guys, that combo, with those settings, works just fine now.

[pdawg]

What time period are you guys finding this useful on? I was watching it on the 233 ES, but didn't really see the signals consistently like on that guys video.

[goldfly]

I like a 5 minute chart set to a 15 lookback period. I think it has some observable results.

[pdawg]

Thanks Goldfly I'll check that out.

[vast524]

This works well on all my charts except for the Euro Stoxx50. I am using it on a 144 tick chart. I use the same indicator and chart settings for the S&P and Russell and it runs fine.
I seem to get all the bars the same height and generally a lot of yellow bars.
I have the the true to calc on bar close set.
Any help would be appreciated.
Regards

[goldfly]

This works well on all my charts except for the Euro Stoxx50. I am using it on a 144 tick chart. I use the same indicator and chart settings for the S&P and Russell and it runs fine.
I seem to get all the bars the same height and generally a lot of yellow bars.
Regards

I can't say really. I suspect that perhaps it's like the yen mini and has a strange tick size the messes up indicators? But no, that can't be, we're talking about volume...... How does a regular volume indicator look?

In the end I'm afraid I can't help. I can't even access that index. Sorry.

[calibri]

This works well on all my charts except for the Euro Stoxx50. I am using it on a 144 tick chart. I use the same indicator and chart settings for the S&P and Russell and it runs fine.
I seem to get all the bars the same height and generally a lot of yellow bars.
I have the the true to calc on bar close set.
Any help would be appreciated.
Regards

you can find an update with a fix in form of an eld:
http://www.ninjatrader-support.com/vb/showthread.php?t=8084

we have to thank kuroro13 and emini-watch!!!
and probably the person who is able to convert:rolleyes:

happy trading

[goldfly]

you can find an update with a fix in form of an eld:


This doesn't appear to be a fix, but rather a modification aimed at improved filtering.

A. I don't completely understand the intent of the change
B. I really don't have the time to devote to a big mod (big by my standards)

So if someone else wants to take a stab, please do. Or maybe if I can get clear comprehension of the objective, I'll be more motivated. I didn't see any update to the article though.

[kuroro13]

Please Goldfly, be motivated !!!

I don't have the programming skills to do that stuff so I can only rely on others and I assure you I deeply regret it.
This version of the code is a major improvement of the initial code because by using upticks and downticks instead of only bar range to calculate a relationship with volume, it enables someway this indicator to take the bullish and bearish pressure for the period into account and give better signals.

Finally, you get a sharpest analysis of volume/range for the period which might lead to adding colored volume bars

Here is a picture explaining my thought
http://www.casimages.com/img.php?i=0806061154013572882.jpg

I cannot garantee that this is what barry (the better volume indicator creator) wanted to achieve but that is how I understand this updated version of the code.

Feel free to correct me if I am wrong

[anachronist]

I have posted a non-beta version in the indicators file sharing area. It is titled "Better Volume".

I didn't understand the reasons behind the somewhat convoluted programming logic in the beta version. Instead, I used the exact same algorithm as the original TradeStation version. Because the algorithm is identical, there's no need to call it 'beta'.

I also made three improvements:

You can use True Range instead of Range in the calculations if you want.
You can cause it to paint the price bars like the volume bars when a volume bar has a non-normal color.
For efficiency it plots the exponential average of the volume instead of the simple average.-Alex

[Elliott Wave]

Good stuff, I'll be sure to check it out. I've been using this indicator for quite a while and find it much more useful than regular volume. One addition I made was to add a second moving average and found that the crossovers were extremely useful in predicting trend formation and exhaustion...

[lindsayf]

I like this indicator . But can anyone explain why a "low volume high range churn bar" can possibly have high volume? This is what often occurs on my charts on the 233 tick ES.

thanks

[goldfly]

I like this indicator . But can anyone explain why a "low volume high range churn bar" can possibly have high volume? This is what often occurs on my charts on the 233 tick ES.

thanks

Got a screenshot?

[lindsayf]

Here tis...

you will see an example of this at 2.01 on the attached chart. The black bar is supposedly a low volume low churn bar. I am now seeing that volume interpretation on a tick chart is a very different propostion to a time chart(probably no surprise to those with more experince than me)..and that this may have something to do with this??

regards
Lindsay

[goldfly]

Oh, I see. You're on the wrong thread.

You are using another version of this indicator.

Try loading the one on this thread and compare them to see what you get.

[fxshark]

THIS IS BETA.

The logic on this is pretty straight-forward, but until I get confirmation from someone who can compare it to the original version, it must be BETA.


Hi there!
I wanna to ask you, what with confirmation Better Volume Beta (http://www.ninjatrader-support2.com/vb/showthread.php?p=38653#post38653)
indicator? Do u have any update? Thanks :) May be someone give me a link for update.

[price777999]

Good stuff, I'll be sure to check it out. I've been using this indicator for quite a while and find it much more useful than regular volume. One addition I made was to add a second moving average and found that the crossovers were extremely useful in predicting trend formation and exhaustion...

hi ,can you show us how to add an extra moving average ...cheers.

[Elliott Wave]

hi ,can you show us how to add an extra moving average ...cheers.

This is the version I'm using.

[price777999]

great thanks ..looks very interesting !

[cunparis]

I have spent several hours playing with the bettervolume indicator (not the beta one). There's a lot that I don't understand but the main thing is the results are very different than the ones I see on the emini watch site. The NT version doesn't show as many colored volume bars.

I tried coding my own but the problem is ninjatrader doesn't have a historical bid/ask tick information. I ran my in real time with market replay and I got lots of colored volume bars. However any change to the chart results in the volume being repainted and then all the tick based information is lost. So this isn't acceptable.

The problem as I see it is the formulas require knowing if volume was at the bid or ask and in Ninjatrader there is no way to get this information. As a result I am not sure if it's useful. It does spot some low volume bars but not all, and some climax bars. But there is a lot of volume information missing.

I'm wondering what other people think and how they're using it.

[ctrlbrk]

cunparis,

My 2 cents: I tried to make it work, but finally removed it from my charts since it wasn't helping me make decisions.

I am not at all saying it is a bad indicator, just not for me.

Mike

[cunparis]

cunparis,

My 2 cents: I tried to make it work, but finally removed it from my charts since it wasn't helping me make decisions.

I am not at all saying it is a bad indicator, just not for me.

Mike

It's no surprise that it didn't work for you if it were only display 10% of the volume information. ;)

[pa188]

What is showing 10% volume?? Works good for me. The point is that it shows me parts of high volume so I know that it is important time to wake up and look for a trade. Its seems to show picking up the reversals quite well.

Any chance from the programmer of this indicator to add an option for an alert such as sound so that I get alerts to every coloured bar the indicator picks up please?

I'll donate a starbucks coffee :D

[cunparis]

What is showing 10% volume?? Works good for me. The point is that it shows me parts of high volume so I know that it is important time to wake up and look for a trade. Its seems to show picking up the reversals quite well.

Any chance from the programmer of this indicator to add an option for an alert such as sound so that I get alerts to every coloured bar the indicator picks up please?

I'll donate a starbucks coffee :D

What I meant by 10% was if you compare the same chart with the better volume for NT and the one by barry for tradestation, you'll find that you only get a small subset of the bars and even then they're often not the same color as Barry's. So I'm really hesitant to make any trading decisions with this indicator.

[pa188]

ok, I see. I don't have trade station so I can't compare charts, you mind posting up a 10 min of the gbpusd please ;)

The NT bettervolume is doing ok picking up the major areas for me for the long moves so I need to have a look and see what I'm missing. I do suspect a problem on some of the bars lighting up.

[cunparis]

ok, I see. I don't have trade station so I can't compare charts, you mind posting up a 10 min of the gbpusd please ;)

The NT bettervolume is doing ok picking up the major areas for me for the long moves so I need to have a look and see what I'm missing. I do suspect a problem on some of the bars lighting up.

I don't have tradestation either, but I compared my charts to the ones posted on eminiwatch on the better volume page.

[ctrlbrk]

I have posted a non-beta version in the indicators file sharing area. It is titled "Better Volume".

I didn't understand the reasons behind the somewhat convoluted programming logic in the beta version. Instead, I used the exact same algorithm as the original TradeStation version. Because the algorithm is identical, there's no need to call it 'beta'.

I also made three improvements:
You can use True Range instead of Range in the calculations if you want.
You can cause it to paint the price bars like the volume bars when a volume bar has a non-normal color.
For efficiency it plots the exponential average of the volume instead of the simple average.-Alex

I am not sure of the timing here, but the code available on the e-mini watch site right now seems to be fairly different than what is in the BetterVolume (non-beta) indicator for NT.

Here is the EasyLanguage code

Inputs: LowVol(True), ClimaxUp(True), ClimaxDown(True), Churn(True) …
Variables: BarColor(Cyan);

BarColor = Color;

If BarType > 1 or UseUpTicks = False then begin
If C > O and Range <> 0 then Value1 = (Range/
(2*Range+O-C))*UpTicks;
If C < O and Range <> 0 then Value1 = ((Range+C-O)/
(2*Range+C-O))*UpTicks;
If C = O then Value1 = 0.5*UpTicks;
Value2 = UpTicks-Value1;
End;

If BarType <= 1 and UseUpTicks then begin
Value1 = UpTicks;
Value2 = DownTicks;
End;

Value3 = AbsValue(Value1+Value2);
Value4 = Value1*Range;
Value5 = (Value1-Value2)*Range;
Value6 = Value2*Range;
Value7 = (Value2-Value1)*Range;
If Range <> 0 then begin
Value8 = Value1/Range;
Value9 = (Value1-Value2)/Range;
Value10 = Value2/Range;
Value11 = (Value2-Value1)/Range;
Value12 = Value3/Range;
End;

Etc.
If anyone cares to translate....

Mike

[cunparis]

I am not sure of the timing here, but the code available on the e-mini watch site right now seems to be fairly different than what is in the BetterVolume (non-beta) indicator for NT.


I have translated it but NT doesn't have access to historical bid/ask volume information so the indicator doesn't work very well. Anything that would cause a refresh of your chart will erase all the volume data. I gave up on trying to test cause I was frustrated that it got erased every time I wanted to change it. Basically you'd have to let it run for many minutes each time you want to test it.

that wasn't the only problem. Tradestation has Upticks & Downticks. I do not believe NT has this, or at least I wasn't aware of it. So I wrote something that would compare the close of each tick and decide if it was an uptick or downtick.

I hear NT 7 will have historical bid/ask information. That would be nice and would probably let us use this indicator.

[ctrlbrk]

cunparis,

The historical bid/ask can be a pain, but is easily solved using market replay. Just connect to market replay, and move slidebar to end of day. It will populate all your charts where indicators require bid/ask. This is what I do for all my stuff that requires bid/ask.

So once you get it going, please share your version :)

Mike

[cunparis]

cunparis,

The historical bid/ask can be a pain, but is easily solved using market replay. Just connect to market replay, and move slidebar to end of day. It will populate all your charts where indicators require bid/ask. This is what I do for all my stuff that requires bid/ask.

So once you get it going, please share your version :)

Mike

I'm using tradestation so I'm probably not going to spend more time on it, I've got other things that are higher priority. But I'm happy to share it in hopes that someone else can continue where I left off.

While searching the NT forums, I found NT support saying that to keep track of upticks & downticks you have to compare the previous price with the current one. So I did this:


if(FirstTickOfBar) {
upTicks = 0;
downTicks = 0;
evenTicks = 0;
}

if(Close[0] > lastClose) {
upTicks++;
} else if(Close[0] < lastClose) {
downTicks++;
} else {
evenTicks++;
}
lastClose = Close[0];



The rest is a direct port of his code. I was surprised how the two previous attempts said they were a direct port yet their code was completely different. If you look at my code and compare it you'll find it's exactly the same except for the part I pasted above to calculate upticks & downticks.

If anyone makes progress please post and if you have any questions about my attempt just let me know, I'm happy to help I'm just swamped right now with some other work and my real job.

I'd love to see this working, I have some indicators on tradestation and some on NT and I'd like to have everyone on one platform.

[bbj_anchor]

This is the version I'm using.

Thanks this version the MAofVOL works... Only thing missing is the color bars option for the chart, but avg volume and x overs nice touch.

[laredo]

Watching teh better volume indicator today on the ES,I realized there where figures given on each bar,volume figures .And Obviously 4 bar colors .
red green yellow blue
red ,bid?
green ,ask?

yellow.blue?
is there a black bar sometimes,what is that?

this seems like a great indicator.
very obvious when something is happening

thanks in advance ,anyone

[laredo]

anyone know what teh better volume beta black volume line indicates?

[goldfly]

Did you check the LINKS in the file sharing post or on the first post in this thread?

http://www.ninjatrader-support2.com/vb/showpost.php?p=38653&postcount=1

I'm amazed this thread still lives......

[cunparis]

Did you check the LINKS in the file sharing post or on the first post in this thread?

http://www.ninjatrader-support2.com/vb/showpost.php?p=38653&postcount=1

I'm amazed this thread still lives......

Me too as it's completely useless without uptick/downtick information!

[laredo]

I find the dramatic increase in bid bars or ask bars(length wise) useful.
I assume this willnot run on the NT 7 version come september.

Still hunting for that black bar ,hoping i can locate it on the TS video provided .

[cunparis]

I find the dramatic increase in bid bars or ask bars(length wise) useful.
I assume this willnot run on the NT 7 version come september.

Still hunting for that black bar ,hoping i can locate it on the TS video provided .

I look at the source:

Add(new Plot(new Pen(Color.FromKnownColor(KnownColor.Black), hilight), PlotStyle.Bar, "LowChurnBar"));

the author called it "low churn bar". The original author of the better volume indicator (Barry from emini watch) doesn't have a low churn bar. I don't think low churn bar would be of interest. What we are interested in are low volume bars that show amateur activity and high volume churn bars which show professionals changing sides.

I've been using the original better volume on tradestation for several months now and it's great. Takes a while to learn how to use it but when you do you're learning price & volume which are the essence of trading.

Barry uses upticks & downticks to find out if volume is buying volume or selling volume. Ninjatrader doesn't have upticks & downticks. You can calculate it yourself using the version I posted earlier, but it won't work for historical data. I'm not sure if NT7 will have upticks & downticks.

[peterb]

I look at the source:

Add(new Plot(new Pen(Color.FromKnownColor(KnownColor.Black), hilight), PlotStyle.Bar, "LowChurnBar"));

the author called it "low churn bar". The original author of the better volume indicator (Barry from emini watch) doesn't have a low churn bar. I don't think low churn bar would be of interest. What we are interested in are low volume bars that show amateur activity and high volume churn bars which show professionals changing sides.

I've been using the original better volume on tradestation for several months now and it's great. Takes a while to learn how to use it but when you do you're learning price & volume which are the essence of trading.

Barry uses upticks & downticks to find out if volume is buying volume or selling volume. Ninjatrader doesn't have upticks & downticks. You can calculate it yourself using the version I posted earlier, but it won't work for historical data. I'm not sure if NT7 will have upticks & downticks.
It seems to work fine on NT7b16, but the black bar does not seem to make any sense as "low (volume?) churn" since it frequently appears on fairly high volume bars. I am still trying to correlate it- does anyone have any ideas?