Better Volume Beta

[cunparis]

BetterVolume

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

[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

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]

Thanks ...

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]

Big Mike

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]

better volume beta,black line

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......