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Tams

Volume Weighed Color Bars

By Tams, in Trading Indicators

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Tams    20

Tams
Posted (edited)

Volume Weighed Color Bars

 

If you subscribe to the school of thought that Volume is a Leading Indicator of Price...

this indicator is for you.

 

The price bar will widen when the volume is higher than previous bar,

and narrow when less than previous bar.

 

 

attachment.php?attachmentid=10065&stc=1&d=1238977630

Volume_Weighed_Color_Bars.gif.5355485403a3e4f78df626878d83b864.gif

Volume_Weighed_Color_Bars_beta01.txt

Edited by Tams

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momentom    10

momentom
Posted

What a great way of doing this equivolume stuff. Any ideas to take it one step further by using different thicknesses as volume keeps on increasing. Maybe just 1 or 2 different extra thicknesses???

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Tams    20

Tams
Posted (edited)
Can you code this in Easy Language or an ELD for Tradestation? Thanks.

 

it is time to invest 5 minutes on your TradeStation User's Manual.

 

.

Edited by Tams

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clbradley    10

clbradley
Posted

Sorry Tams, I work and go to school full time, and have a family. If you don't have an answer besides a sarcastic one, maybe someone who knows EL and has the time to help not only me, but lots of other people who use TS and have trouble coding in the wrongly named Easy Language, possibly 50-100 members of Traders Laboratory who would be very interested and thankful that someone could post the code for Tradestation. Thanks again for the free sarcasm and not trying to help.

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trader273    10

trader273
Posted

You sure do sound busy, but yet you have enough time to give Tams some grief. He simply suggested that you learn to help yourself. I find it funny that you have an attitude with Tams and he is here giving away free indicators. Guess the old saying is true, give someone an inch and they want to take a foot.

 

Tams,

A lot of people, including myself, are very thankful for your FREE help.

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thrunner    10

thrunner
Posted

You are both right, kind of. Tams has spent a lot of time contributing to the EL indicators and he probably expects users to have a rudimentary knowledge of the platform they are using. There are however, traders who don't really care about anything other than applying some indicator that they think might work.

 

I think Tams is only using Multicharts, so he is not able to provide an ELD (which only TS can create, but MC can usually read). However a TS user can create an ELD easily by clicking on the EasyLanguage icon on the left tool bar of TS and choose new EL document, paintbar, and then copy and paste the text code included above into the editor window and the press F3 to verify the code.

 

If one can't be bothered with that, then perhaps the attached eld (TS version 8.3 for compatibility) might help.

 

Those interested in this indicator might just want to download a similar indicator BlueRay created for TS about 9 months ago, an ELD called tradeflow, similar to that of the original from the CQG platform :

http://www.traderslaboratory.com/forums/f56/bid-ask-indicator-similar-to-tradeflow-4097.html#post41441

VOLUME_WEIGHED_COLOR_BARS_BETA01.ELD

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clbradley    10

clbradley
Posted

Thanks thrunner, for posting the ELD. Now I have to run off to work, and work all weekend, go to school and study a lot of the rest of the time not working, and want to have time for my family as much as possible as well. It is possible that Tams response seemed rude and sarcastic to me, could have just not answered if he didn't know, but I apologize for also being rude back. Sorry Tams, I shouldn't have replied so abruptly, I do appreciate the free indicators, just didn't expect your response and was incorrectly rude in return.

 

Curtis

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BlowFish    10

BlowFish
Posted

Perhaps you where unaware that as Multicharts also uses easy language it is (usually) a simple cut and paste of the text into Tradestation. I guess this could be mis-construed as extreme laziness rather than just being pressed from time.

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sevensa    10

sevensa
Posted
Thanks thrunner, for posting the ELD. Now I have to run off to work, and work all weekend, go to school and study a lot of the rest of the time not working, and want to have time for my family as much as possible as well. It is possible that Tams response seemed rude and sarcastic to me, could have just not answered if he didn't know, but I apologize for also being rude back. Sorry Tams, I shouldn't have replied so abruptly, I do appreciate the free indicators, just didn't expect your response and was incorrectly rude in return.

 

Curtis

 

Ok, this is completely off topic here, but if you are really so busy that you don't have 5 minutes to create an indicator yourself, then you should ask yourself if trading is really for you? Trading is much more than plugging a free indicator from the internet on your chart and you will need many, many hours a day learning the profession. If you want to be a professional golfer, getting a free set of clubs from your buddy at work is not going to make you a professional golfer. Only the hours and hours of practising will.

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