Low Spread/Volume Indicator

[Zhorny]

Hi All,

I've attached two images but let me describe the indicator.
Everytime there is a low spread/low volume bar create an indicator on the chart:

For example in screenshot 1:
Down bar, low spread, low volume.

For the indicator to appear on the low volume/down bar it must satisfy these parameters:
1) Previous two bars must be up bars
2) Volume of current bar is less than 40% of the average volume of the previous two bars
e.g. let's say volume at close on current bar = 1000, bar-1 = 5000, bar-2 = 6000 then 1000 / ((5000 + 6000) / 2) = 18%

And vice versa for a low volume/up bar.

The indicator appeareance would be similar to that of a Parabolic SAR i.e. some sort of diamond or arrow. For the low volume/down bar one this is a bullish signal so either an up arrow or some bullish looking symbol and the low volume/up bar one is a bearish signal so down arrow or some bearish looking symbol.

Many thanks

EDIT: I just realised screenshot "2" does not have two consecutive down bars but you get the jist anyway.

[NinjaTrader_Tim]

Hi Zhorny,

Thank you for your post, however I'm not 100% what you are requesting, did you want assistance coding this indicator? Something else?

While I cannot create this for you, I'd be happy to assist with any coding you have created if you are having issues or have questions.


If you are not a programmer yourself, you can contact one of your NinjaScript consultants - http://www.ninjatrader.com/webnew/pa...injaScript.htm

[Zhorny]

Yes assistance would be great. I don't know where to start and know nothing about coding so any help would be superb.

[NinjaTrader_Tim]

Hi Zhorny,

The first thing I recommend doing is following the tutorials at - http://www.ninjatrader-support.com/H...tml?Overview23

Others are shown in the contents on the left of the page.

Also, be sure to check out the "Automated Strategy Development Level 1" webinar - http://www.ninjatrader.com/webnew/ev...injascript.htm

For getting started with programming, check out the following links
NinjaScript Overview

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?Overview17

The strategy wizard is a great place to start - http://www.ninjatrader-support.com/H...tml?Overview41

Developing Custom Indicators

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?Overview18

Developing Custom Strategies

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?Overview39

And our forum samples at - http://www.ninjatrader-support2.com/...splay.php?f=30
And tips at - http://www.ninjatrader-support2.com/...splay.php?f=31

[Zhorny]

Hi Tim,
Thanks for all of those links.

I've looked into this and I see that there are codes for doing simple calculations but I don't see any other tools if for example I wanted to take bar price/volume averages.

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?Overview17

Basically, if my current volume bar on close is has 50% less volume than the average of the two proceeding bars then by my looks I cannot code this.

Am I completely overlooking something here?

[NinjaTrader_Ben]

Hello,

I am assuming you are using the Strategy Wizard. I am sorry, this is not possible in the Wizard.

[Zhorny]

Ok thanks for letting me know. Any possibility of being able to do further calculations on indicators to yield a result in future versions?

[NinjaTrader_Bertrand]

Thanks for the suggestion, this is on our suggestion list - however for now please do your calcs needed in custom indicators and then call them in the wizard to access the results in your conditions.