Equivolume Candles?

[JS999]

Hi,
I've modified the existing out-of-the-box Candle so it scales the width according to what the volume is. Try sticking this file in: Documents\NinjaTrader 7\bin\Custom\Type, open an indicator NinjaScript, compile and restart.

[ATTACH]9085[/ATTACH]

The specified barwidth in the settings is used as the maximum width so you could try setting it to 9-10 something.



Note: I've only tried it in NinjaTrader 7.

Regards

Thanks a lot! This seems to work fairly nicely. I was just wondering though - is there any way to construct this as an additional/new chart type so you we could still use the original candlestick chart type as well if we wanted to? Right now it replaces the original code, so if we want to use this we'll have to forego original candles on any of our charts... much appreciated!

[klassej]

Hi,
I've modified the existing out-of-the-box Candle so it scales the width according to what the volume is. Try sticking this file in: Documents\NinjaTrader 7\bin\Custom\Type, open an indicator NinjaScript, compile and restart.

CandleVol.cs

The specified barwidth in the settings is used as the maximum width so you could try setting it to 9-10 something.



Note: I've only tried it in NinjaTrader 7.

Regards

[NinjaTrader_Jason]

Hello traderlars,

I will forward your suggestion to our development team and ask them if they can add this to the list of future considerations for the software.

[traderlars]

are you guys over at ninja planning on adding BASIC equivolume. for a troupe of programmers this should be a breeze. if you do your homework you'll notice that any PROFESSIONAL level package has this.

and that implementation over at indicator warehouse does NOT look correct at all. that is some proprietary formula to calculate the bars. ninja should use richard arms original formula.

[cclsys]

Check out edsvolpricebar in the file sharing area for indicators. I tried loading it this weekend when not connected and it didn't seem to work, but I believe its intention is to plot equivolume bars. It is a very good feature and I strongly recommend it go into NT7.

Also Point and Figure with nicer drawing options than 0 and X and ability to shrink them into solid bars of different color when zooming out the chart to view more data every once in a while.

[dwhall]

3rd Party Add On available for Equivolume Bars

Here's a 3rd party add-on for Equivolume from indicatorwarehouse. http://www.indicatorwarehouse.com/Equivolume-Bars.htm

I may have to buy it - seems like it should work great looking for dry volume (thin bars) before going long/short maybe using other indicators.

[Willem]

This is how others do it. Dont know if it can be used
Cheers, W

http://www.ensignsoftware.com/espl/espl15.htm

This example implements an EquiVolume plot on a chart. It not intended to update in real-time or to be persistent by redrawing itself when a chart repaints. It will draw an EquiVolume image on a chart when the #9 button on the script editor is clicked.
Cut the script from this page and paste it into the ESPL Script editor. Click on the #9 button on the script editor form to execute.

procedure EquiVolume;
var
i,xPos,iVolRange,iBarIndex: integer;
OO,HH,LL,CC,x,cl: integer;
begin
if FindWindow(eChart)>0 then
begin
i:=BarEnd;
xPos:=IndexToX(BarEnd);
iVolRange:=Highest(eVolume,BarEnd,BarEnd,iBarIndex ,1,0);
while (i>1) and (xPos>0) do
begin
OO:=PriceToY(Open(i));
HH:=PriceToY(High(i));
LL:=PriceToY(Low(i));
CC:=PriceToY(Last(i));
if (OO < CC) then cl:=clRed else cl:=clLime;
SetPen(cl);
SetBrush(cl);
x:=20*Volume(i) div iVolRange; if x=0 then x:=1;
Rectangle(xPos-x,HH,xPos,LL);
SetPen(clBlack);
MoveToLineTo(xPos-x div 2,CC,xPos,CC); {close}
MoveToLineTo(xPos-x,OO,xPos-x div 2,OO); {open}
xPos:=xPos-x-2;
dec(i);
end;
end;
end;

{**********Main Program**********}
begin
if who=9 then EquiVolume;
end;

Notes: i is the index for the bar records and initialize to start at the last bar on the chart.
xPos is the horizontal plotting position.
iVolRange is the largest volume for the bars in the chart's data set.
The while statement will loop until we run out of bars or until the plot reaches the left edge of the chart.
OO, HH, LL, CC are the vertical plot positions on the chart for the prices from bar( i ).
Depending on the open vs. close relationship, choose a color for the bar.
x will be the width of the bar up to a maximum of 20 pixels.
The Rectangle function draws the bar for height and width and colors the interior of the rectangle.
MoveToLineTo draws a line in black for the close and open tick hashes.
Step the plot position to the left and decrement the index i.

[JS999]

Definitely count me in on this one too... if you don't get it done in the first iteration of NT for the initial release, please add it as soon as possible after launch...

[Willem]

EquiVolume

Count me in as well

Cheers W

[NinjaTrader_Ray]

Any news yet on whether these will be included in Version 7?

We are not sure if this will be implemented in NT7 or not. They are on our list but we may not get to it. Here is a current list of NT7 features.

http://www.ninjatrader.com/webnew/NT7/NinjaTrader7.html

[jackh]

Equivolume Bars / Candles

Any news yet on whether these will be included in Version 7?

[Rollins]

It can be done by writing your own custom plotting algorithm, look at Gumphrie's HeikenAshi indicator for inspiration. It probably wouldn't be pretty though.

[NinjaTrader_JoshP]

You can adjust the barwidth through Chart Properties. This is more of a universal application as opposed to single bars though.

[sysimp]

open barswidth property

If ninja exposed the barwidth property, we could do this ourselves...

(assuming that we were warned of the plotting errors that may occur due to lack of control of the plotting space?)

[NinjaTrader_Dierk]

Unfortunately there are no news available.