Volume Indicator in RT

[shreem 10]

Hello Chad. First thanks a lot for your very informative posts on the different ways of using Investor R/T charts and how to use them efficiently. Your videos are really much helpful and it is great that you are on board of TL.

 

I am planning to subscribe to Investor R/T with esignal as a data feed (i do have the esignal full charting premier package at the moment) as i really like the fact that market profile charts are there along all the indicators based on volume.

 

As i am a forex spot trader and that tick volume (with the esignal feed) can be used instead of true volume, i have a question for you before i make my decision to switch from the esignal charts to investor R/T charts (will keep esignal as data feed).

 

Is it possible for the volume indicator to show a different color when the current volume bar is less then the 2 previous volume bar. This will help me a lot visually, to see no demand, no supply and test bars according to VSA methodology which i trade?

 

Also, regarding the volume profile, it is possible to include the last 20 days trades in the volume profile and shows the peak volume price and VAH and VAL of those 20 days?

 

Thanks a lot in advance and really much appreciate your dedication on this forum.

 

In fact, one of the reason i want to move to investor R/T as a charting platform is the fact that you are active here in helping traders about their inquiries and giving us ideas what Investor R/T can do.

 

Sincerely

 

Shreem:)

Edited August 10, 2009 by shreem

[LS_Chad 10]

Hey Schreem,

 

Yes, you can do this as follows:

 

First, add the Volume Analysis indicator to the chart, as an all-green histogram (or whatever color you want the histogram painted when volume is not less than prev 2 bars). Then, create the following custom indicator (setup: custom indicator):

 

(VO < VO.1 AND VO < VO.2) * VO

 

The first part of this expression, (VO < VO.1 AND VO < VO.2), will be 1 (true) when volume is less than vol of prev 2 bars, and 0 otherwise. So the net effect will be that this indicator will give you the volume on bars where that condition is true, and 0 otherwise. You can now send this custom indicator to the chart and plot it as an all-red histogram. Here is an example (that you can import):

 

Images | ChartHub.com

 

 

If you have any problems with this, you might want to watch this short video on how to add custom indicators to a chart: Custom Indicator Video

 

and this RTL Tutorial: Investor/RT - Tutorial - RTL 101

 

Chad

[shreem 10]

Hello Chad. Thanks a lot for the email. Much appreciated.

 

Does i need to have the professional version to modify the volume indicator to do that or does having the standard edition is fine too?

 

thanks a lot in advance

 

Shreem:)

 

Edit: Also, is it possible that, at the same time, the volume indicator shows 3 colors, 1 for when current volume higher than previous one, 1 for when current volume bar is less then the previous volume and 1 when current volume bar is less than the 2 previous volume bars?

Edited August 11, 2009 by shreem
added a question

[LS_Chad 10]

You will need the Pro version in order to accomplish the Custom Indicator required to make this happen, yes.