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TinGull

[Volume Based Candles] and how to profit

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  Mitch said:
Up & away , not really traded around 'this event' before, do we get some action pretty instant or what.................?

 

Hopefully you saw the 'action' Mitch - a few moments before 2:15pm and shortly thereafter.

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Sure did , talk about fast !!! Made a quick 700 , then gave back 650 almost as quick !!! Then decided to step aside & try to 'learn' somrthing new.

I was watching the T & S & quite a lot of the time; you see the 'red' seemingly overwhelm the green ( or vice versa) but the price seems almost static & appears to go in the direction it should'nt.....any comments?

Reviewing the charts , the candles do appear to be quite informative.........will look into this some more .

Would this combine with P&F?

Cheers

Mitch

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  walterw said:
Ok, here it goes, the indicator its called "Time per Bar"

 

I stumbled on this forum and have gained some additional insights to how I use volume bars, and am thankful.

One small request, I dont use TS anymore and use Neoticker, is it possible that you could share the posting of the code bit of the Time Per Bar Indicator in plain text, so that I can try and convert it.

 

The time per bar bit was a missing piece to what I was looking for to interpret volume bars thank you

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  LS_Chad said:
Investor/RT has true constant volume bars:

http://www.linnsoft.com/tutorials/periodicities.htm

 

and EquiVolume (EquiIndicators):

http://www.linnsoft.com/tour/techind/equi.htm

 

 

Chad,

 

I just reviewed the links you had posted earlier about this and saw...

 

  Quote

Notice that the volume of every bars is essentially the same. All bars have the required volume of 5000, with some having slightly more depending on the volume of the last tick/trade that occurred in that bar.

 

True Constant Volume Bars should be "EXACTLY" the volume stated, not just approximate, nor "essentially" the same. This is the same problem that plagues Tradestation's implementation of Volume Bars, IMHO.

 

Have you looked into this, and are you planning on updating your algorithm to address this issue (if you haven't already, that is ) ? :)

 

-fs

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forsearch,

 

Thank you for pointing that out. The problem is not our algorithm, but with a web page that has not been updated to reflect changes in the software. I have corrected the page. Over a year ago, we changed our logic for forming volume bars so that each bar is now composed of exactly the number of contracts/shares that the user requests (splitting trades up across multiple bars when needed to accomplish this). So the software does work as you desire, the web page was just out of date. Thanks again for bringing that to my attention.

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  LS_Chad said:
forsearch,

 

Thank you for pointing that out. The problem is not our algorithm, but with a web page that has not been updated to reflect changes in the software. I have corrected the page. Over a year ago, we changed our logic for forming volume bars so that each bar is now composed of exactly the number of contracts/shares that the user requests (splitting trades up across multiple bars when needed to accomplish this). So the software does work as you desire, the web page was just out of date. Thanks again for bringing that to my attention.

 

No problem, Chad - thanks for updating the community.

 

Now if you could add OpenECry/OEC or Transact/Infinity to your list of data feeds for either Market Delta or Investor/RT and life would be really good :)

 

-fs

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  LS_Chad said:
forsearch,

 

Thank you for pointing that out. The problem is not our algorithm, but with a web page that has not been updated to reflect changes in the software. I have corrected the page. Over a year ago, we changed our logic for forming volume bars so that each bar is now composed of exactly the number of contracts/shares that the user requests (splitting trades up across multiple bars when needed to accomplish this). So the software does work as you desire, the web page was just out of date. Thanks again for bringing that to my attention.

 

Chad, do you have equivolume range bars? Is there a screen shot?

 

tx

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  momentom said:
Chad, do you have equivolume range bars? Is there a screen shot?

 

tx

 

momentum,

 

If I understand you correctly, you want a chart where the periodicity is range bars, and then those bars are drawn as equivolume bars. So essentially the height of each bar should be equal, but the width will be proportional to volume. Is this correct?

 

If so, yes, and below is a screenshot. The normal range bars (candles) are drawn in the top pane ($1 rangebar of ES - those can be hidden if you like). The equivolume bars are drawn in the bottom pane.

 

http://www.charthub.com/images/2008/05/15/EquiVolumeRangeBars.png

 

EquiVolumeRangeBars.png

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  LS_Chad said:

If I understand you correctly, you want a chart where the periodicity is range bars, and then those bars are drawn as equivolume bars. So essentially the height of each bar should be equal, but the width will be proportional to volume. Is this correct?

 

If so, yes, and below is a screenshot. The normal range bars (candles) are drawn in the top pane ($1 rangebar of ES - those can be hidden if you like). The equivolume bars are drawn in the bottom pane.

 

Chad - I did not know about this charting option ... very nice thank-you!

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I just found this thread & read all of it, great info thanks to all. I've been using vol charts for over a year now, & until reading this thread thought I was pretty much alone..What works for me is a 7,000 vol with a 21 & 8 sma, set on "pivot point" (H+L+C)/3 not "close". I'm not a scalper, I go for the larger moves, with the 7,000 vol it's easy for me to tell when the meat of the move is about over,, when I think an up move is starting, I buy a pull back to the 8 sma...The 21 pp sma is a good exit signal after a 6 - 10 point move..I got the pp sma idea from John Persons book. I also use a 5 pp sma on my nyse$tick ch as a market internal to look for conformation and or divergance, along with charting nyse breadth,,naz breadth & nyse & naz adv minus dec stocks. Everyone has to find what works for them, thought I'd post a couple of my tools,, someone might find something I use helpful.

Thanks Walter for the time bar post, I'd never heard of it until now, I have thought many times that something like that would enhance a vol chart.

 

I do not use TS...Does anyone have the formula, file or what ever for the vol chart time bars for Esignal? Thnx ST

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We've added a few new features to version 9.3 (current in beta) that may be of interest to those who have participated in this thread. First, we added the ability to draw bars of any periodicity as volume profiles (as opposed to bars, candles, etc). Also, we've added two unique new periodicities that build off volume: Volume Breakout and POC Volume.

 

I've created videos on both these features:

 

Volume Profile Charting Style:

http://www.linnsoft.com/videos/volume_profile/

 

New Periodicities: Volume Breakout and POC Volume:

http://www.linnsoft.com/videos/volume_breakout/

 

Staying on topic with the volume bars, below is a chart with 50,000 volume bars on the ES. The Volume Profile let's you see within the bar to see how much volume traded at each price:

 

EquiVolumeProfiles.png

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Thank you for your post. I'm a newbee in Easylanguage and I tried to make an Indicator but I got the following error: Word not recognized by Easylanguage, and it pointed to _fCommentary.

Do I need a function?

 

Please advise

 

Regards,

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