Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TinGull

[Volume Based Candles] and how to profit

Recommended Posts

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites
Guest forsearch
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...

 

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
Guest forsearch
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

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites

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!

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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,

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 23rd August 2019. MACRO EVENTS & NEWS OF 23rd August 2019.FX News Today A confluence of factors whipped the markets around Thursday heading into the Jackson Hole Symposium and Chair Powell’s comments Friday at 10 ET. Hawkish remarks from George (she dissented against the July easing) and Harker (who votes in 2020) weighed on Treasuries and erased early gains from Wall Street. Minutes from both Fed and ECB meetings were not quite the all out dovish signal that some had been hoping for and comments from Fed members yesterday also showed a degree of caution with regard to further easing measures. The curve in the US steepened again after inverting briefly overnight, the curve flattened and inverted further in Japan. Stock markets across Asia moved mostly higher although gains remained contained by caution. New Zealand’s central bank governor said he could afford to wait before declining on additional easing measures. Onshore Yuan set at its weakest for 11 years. Japanese core consumer inflation at a 2-year low in July. Meanwhile lingering geopolitical trade tensions and political jitters in Hong Kong, Italy and the UK add to an uncertain backdrop. US futures are also cautiously moving higher. The WTI future is trading at USD 55.37 per barrel. Charts of the DayTechnician’s Corner EURUSD returned to 3-week lows of 1.1064 today, after rallying to session highs of 1.1099 following the sub-50 US manufacturing PMI. Negative European yields appear to be taking their toll on the currency, keeping the Dollar in demand in place for relatively high yielding US Treasuries. This has likely been a major factor keeping EURUSD under pressure, especially ahead of likely ECB easing in September, and perceptions that the Fed will not be as aggressive in easing as previously thought. Key EURUSD level is the 27-month low of 1.1027 seen on August 1. USDJPY rallied to 106.64 highs. The risk-sensitive pairing can be expected to consolidate into today’s much anticipated speech from Fed chair Powell, from Jackson Hole. GBPUSD: Sterling had its best single day rally since March 13 against the Dollar. Cable’s high was 1.2273, which is the loftiest level seen since late July. The gains were sparked by comments made by German’s Merkel, who indicated that a solution to the Irish border backstop conundrum is doable by the October-31 Brexit deadline. UK Prime Minister Boris Johnson followed this up by saying at his joint press conference with France’s Macron that he was encouraged by his talks in Berlin yesterday, and that a deal, he thinks, can be done ahead of October 31. Macron, said, however, that while he has always respected the UK’s decision to leave the EU, the European project has to be protected, to which the Irish backstop remains an important part of ensuring this. Merkel’s remarks were little more than rhetorical platitudes, though enough to trigger a short squeeze in a heavy shorted currency. Main Macro Events Today   Jackson Hole Symposium – Day 2 Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales are expected to have decreased in Canada, with consensus forecasts suggesting a -0.5% m/m decline should be registered in June and an unchanged ex-autos component at 0.3%. In May, Retail sales were disappointing, falling 0.1% for total sales and declining 0.3% for the ex-autos component. The decline in sales was driven by a 2.0% tumble in food and beverage stores. The report casts some doubt on the resiliency of the consumer sector to the ongoing parade of worrisome geopolitical and trade developments. Support and Resistance levelsAlways trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Thanks for your suggestions man!! Our own decision surely makes us or breaks us. Thanks once again, buddy.
    • Right, as a trader, we are our own boss so there is no fear instead of loss in this market. To learn the market we have to keep learning and following rules or our plan that we have decide for trading.
    • None trader or broker can control the market. There is no single person who is behind the Forex market so there is no way to be controlled the market with a man power.
    • EU is still trading in a range. I'm heading out of town tonight and won't be back until Sunday evening. 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.