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pa18

Better Volume Indicator and Tradestation

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BV for TS uses upTicks & downTicks. on a tick chart, if the tick is an uptick then that means it occurred at the ask right? how does TS draw the better volume indicator for historical data if TS doesn't have the bid/ask information?

 

Essentially it looks at the ratio of Volume against Range and marks high volume low range bars low volume high range etc. etc.

 

An uptick does not necessarily occur at the ask if price is being bid up (bid and ask lift) you can have upticks on the bid. This is completely academic as this indicator uses total volume, it does not split the volume in anyway.

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Essentially it looks at the ratio of Volume against Range and marks high volume low range bars low volume high range etc. etc.

 

An uptick does not necessarily occur at the ask if price is being bid up (bid and ask lift) you can have upticks on the bid. This is completely academic as this indicator uses total volume, it does not split the volume in anyway.

 

Good point about the bid moving up. You're far more knowledgeable about this than I am. But I'd like to clarify one point: BetterVolume uses upTicks & downTicks (if configured to do so). So tradestation must provide this historically correct? I'm not sure what you mean about it using the ratio with the range, that's a bit over my head I'm afraid.

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Looks like I was wrong about how the code works -apologies- it looks as if he is doing some sort of 'weighting' for up and down volume. I don't think the earlier versions did (but I may be wrong there too).

 

Maybe I'll go through and change all the value1 value2 value3 etc etc etc to more meaningful names so we can actually see what is going on!!

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When using the BetterVolume indicator in TS and tracking Forex, set the Forex symbol to Tick Count not Trade Volume. The BetterVolume indicator will work with this setting. Forex does not report actual volume.

 

I want to use for NinjaTrader.

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I want to use for NinjaTrader.

 

I think you have to wait until NT7. ;)

 

I posted my attempt at porting bettervolume to NT in the NT forums, search for the thread "Better Volume Beta", go to the end of the thread to see the recent posts. Maybe someone will be able to figure out how to do it with NT6.5.

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I think you have to wait until NT7. ;)

 

I posted my attempt at porting bettervolume to NT in the NT forums, search for the thread "Better Volume Beta", go to the end of the thread to see the recent posts. Maybe someone will be able to figure out how to do it with NT6.5.

 

No. Well maybe no :) (see the last paragraph). The current implimentation of Ninjatrader provides much more data than the current version of TS. TS will report last, best bid and best ask (the latter 2 only when last generates a tick). Ninja will generate an event for a trade (same as TS) and it will generate an event for an order book changes at any depth including best bid and ask (TS won't do this at all though you may be able to do it by having ask or bid as data 1).

 

T.S. does store volume information with upticks and downticks separated. As I am now a multicharts user I can't really say much about that implementation.

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pa18,

 

Why not ask Barry (very nice guy) from emini watch what settings to use for forex, he uses forex charts himself and he programs ninja and TS.

Also, he has a video on how to use the BV indicator for forex.

cheers

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I use a volume indicator, also programmed by an experienced Tradestation user, called Klinger + ATR. It is the finest leading indicator I am familiar with. I would be happy to provide the code to anyone who has the skills to write it for Metatrader or another platform. I only ask that it be shared with everyone, including me. ;) It is NOT proprietary!

 

I trade only FUTURES now -- no more Forex. I like trading through an Exchange (CME, CBOT, etc.) because commissions are cheap (about $5 per round trip trade), spreads are tighter than most Forex brokers are willing to provide (usually 1-2 pips/ticks), and executions are accurate. The futures exchanges also provide GOOD, ACCURATE volume data. Forex volume data is spotty and unreliable, as others in this forum have indicated. I get no stolen stops. Many Forex traders are unaware that they can trade currencies through the futures market with superb liquidity on the majors and tight spreads. The charts are virtually indistinguishable from Forex.

 

Tradestation, as a broker, also offers Forex trading through Gain Capital. The spreads are MUCH tighter than you can get with a retail account with Gain. Spreads for the Euro and Yen are only .5 (yes, 1/2 pip) to 1 tick/pip. For the GBP, AUD, and CAD, they are usually about 2 ticks/pips. A tick in futures is the same as a PIP in Forex, but the values are slightly different.

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I use a volume indicator, also programmed by an experienced Tradestation user, called Klinger + ATR. It is the finest leading indicator I am familiar with. I would be happy to provide the code to anyone who has the skills to write it for Metatrader or another platform. I only ask that it be shared with everyone, including me. ;) It is NOT proprietary!...

 

 

You can post the code and make the request here...

Trading Indicators - Traders Laboratory

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