Overlaying Charts?

[Soultrader 12]

Hi Chad,

 

Just saw your post on Volume Breakdown. You mentioned you plotted it 3 times? How do I overlay the indicator on top of each other? Thanks

[LS_Chad 10]

Hi Chad,

 

Just saw your post on Volume Breakdown. You mentioned you plotted it 3 times? How do I overlay the indicator on top of each other? Thanks

 

You can actually simply drag and drop indicators between panes. That's really the easiest way to do it. However, when adding indicators, you'll also see a choice in the lower left corner of the "Add Indicator" window which allows you to choose which pane the indicator is added to. Standalone indicators like VB will default to "new pane" but you can change that to the pane of existing bars or indicators.

 

There is a 13-minute video at www.linnsoft.com/videos which covers many different aspects of technical indicators, including this one. Here is the direct link:

 

http://www.linnsoft.com/videos/techind/index.html

[Soultrader 12]

Thank you Chad.

[mister ed 10]

Just saw your post on Volume Breakdown. You mentioned you plotted it 3 times? How do I overlay the indicator on top of each other? Thanks

 

ST - when you want to add another indicator to the chart but you want to overlay it on an already existing indicator (so for example putting two variants of the VB in one pane) specify the pane in which you want to place the new indicator as being the same pane the existing indicator is in - see attachment.

[Soultrader 12]

Still playing around with it to get the same format as Chad. Attached is my chart so far. I feel like I am missing something?

[mister ed 10]

Hmmmm Yes you are - check for the Selling VB (the red negative bars) you have not specified some minimum trade size?

[Soultrader 12]

Thanks mister ed, I will play around with the settings to see what I get.

[mister ed 10]

In that bottom pane, to reproduce Chad's chart in the VB thread add in:

 

Buy Volume

Sell Volume (Negative)

Delta (Buy - Sell Volume) <------- this one will need to have its colours changed

[LS_Chad 10]

James,

 

I can't tell exactly how you have that setup unless you share definition, or you share to charthub. However, a few things that could be going on there...you might have the Delta bars drawing behind the Buy and Sell Volume bars...and therefore getting covered up. You can either right-click in the pane title, or shift-click in the horizontal scale to the right, to bring up the element order prefs window. Try adjusting the element order. You can also right-click on any histogram and choose "send to back".

 

Other problem could be that you just have the colors set the same for both the buy volume and the positive delta. Try adjusting the colors of the different VBs so they stand out.

 

If none of this works, share your chart def and I'll take a look.

 

Here are instructions on sharing a chart if you're not familiar with that:

 

http://www.linnsoft.com/qa/a/124.htm

[mister ed 10]

See attachment - put all 3 of these in the one pane

[Soultrader 12]

Thanks. I think I got it to work.

[MC 10]

Does the delta only work on live data. Or can you for example pull up a daily 1 year $dji chart and analyze that volume breakdown as well?

 

If you can do the latter, could you guys post chart of the DJI daily 1 year.

I was hoping to not spend so much but InvestorRT is really looking so flexible it will make TS cry. And with being able to pick my own data vendor I'm not stuck with TS and their issues. You're almost leaving me no choice here.

 

Thanks

[LS_Chad 10]

Volume Breakdown works not only on live data, but also on historical data. Tick data is however required in order to compute VB. Different data feeds will allow you to download different amounts of tick data. But with Investor/RT, after that initial download, you can choose to retain as much tick data as you like, so each day you will add one day to the amount of tick data you have on hand (and that you can use for VB).

 

You are asking to see the VB values on a daily chart of DJI...for a year back? I may have a hard time coming up with that much tick data. VB also requires that the bid and ask....which our data vendors do provide on historical downloads. That might be why TS doesn't allow delta to be computed on historical data....it might not have the historical bid/ask.

[mister ed 10]

I will leave the final word on the question to the company, but this is what I think is correct. You need tick data to get the correct VB numbers (it tracks which side of the price each trade hits on). I don't know if you could save these numbers so that after a period of time you get a long-term chart (daily say) with correct VB figures on it, but you cannot just call up a daily chart now for a year andget the correct VB numbers. Looks like I was a bit slow with the answer...

Edited February 14, 2008 by mister ed
bit slow...

[LS_Chad 10]

A couple more notes on VB......I spent a GREAT deal of time on this particular indicator (Volume Breakdown), making sure it is reliable and efficient. It has to process every tick, but does so very quickly....merging that tick in with the data that has already been computed. VB has become very very popular with our user base, and has been hammered on pretty thoroughly. It's much more than an indicator that just computes the delta....it allows you to do cumulative delta (for each session or for entire chart), to compute any indicator or statistic on top of the delta (or buy/sell volume) values, to chart the "trade speed" (volume per bar, ticks per bar, second per bar, etc) and much more.

 

One other note on VB...it is currently "Bundled" with Market Profile...although this will likely change in the near future. So in order to activate VB, you have to activate MP.

[LS_Chad 10]

The TPO Indicator and the Market Profile charts should work in Demo mode, but only for the $DEMO ticker. Here are a couple chart examples:

 

http://www.charthub.com/images/2008/02/14/TPOIndicator_Demo.png

 

TPO Indicator:

 

 

http://www.charthub.com/images/2008/02/14/DemoMP.png

 

Market Profile Chart

 

[LS_Chad 10]

I also wanted to point out another somewhat hidden delta-related feature.

 

Both Trendlines and Zig Zag lines can be labelled with the net delta of each line / leg. Here is an example:

 

http://www.charthub.com/images/2008/02/18/ZigZagDelta.png

 

 

The key to making this work, is to add the Volume Breakdown to the chart...and within the preferences of the Zig Zag or Trendline indicators, just specify "Label With: Total Delta". With trendlines, this allows you to quickly measure the delta formed between any two bars on the chart.

[MC 10]

 

OK OK...I am blown away. Please stop, I can't take anymore.

 

Insane capabilities. I cannot wait to get back in gear and trade with this platform.

 

[Guest forsearch]

 

One other note on VB...it is currently "Bundled" with Market Profile...although this will likely change in the near future. So in order to activate VB, you have to activate MP.

 

Chad,

 

Has Volume Breakdown been "unbundled" and made available as a standalone option for those of us who might not want or need Market Profile?

 

-fs

[LS_Chad 10]

VB and MP are still bundled, but I would expect that to change possibly June 1.

[jjthetrader 10]

Chad, In the attached pic can you see how the two different software packages get different VB levels on the same timeframe chart and the same data supplier (they're running esignal through TS).

I'm thinking about getting IRT but I'm not sure which is right.

The TS indicator uses your same approach in it's calculation as your VB.

Any ideas?

thanks.

[LS_Chad 10]

JJ,

 

I think it's probably more likely that the tickbars themselves are responsible for any differences, rather than the VB indicator itself. It can be difficult to reproduce the same tickbars between two products, as many things can throw tickbar charts out of synch....just a single missing tick will cause the bars to be different. But the tickbars are also heavily reliant on where it chart started building the tickbars (at being of current session, 5 sessions ago, etc). If you want to do a true comparison of VB, comparing 1-min bars would probably be a better measure. The way we classify trades as buys or sells is pretty straightforward...if it trades at or above ask, it's a buy..at or below bid, it's a sell...and then there is some proprietary code for how we handle trades between bid and ask (which is also reliant on previous trades)...which could be coming into play here...although you shouldn't really see many trades between the bid and ask...and it's more likely due to the fact that you're comparing tickbars.

[jjthetrader 10]

Ok, thanks Chad.