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
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]

BetterVolumeBeta.. Continuous Climax Churn Bars...

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]

BetterVolumeBeta...

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.