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Better Volume (amaBetterVolume)

Version 1.1 September 12, 2018

This indicator is based on the original version of the Better Volume Indicator from https://www.emini-watch.com/. It identifies the following events relative to the selected lookback period:

Breakout or climax bars: A breakout or climax bar is a wide range high volume bar for which the the product "volume times range" is higher than for all preceeding bars of the lookback period.

Churn bars: A churn bar is a narrow range high volume bar for which the ratio "volume per range" is higher than for all preceeding bars of the lookback period.

Climax churn bars: A climax churn bar is a high volume bar that qualifies both as a climax bar and as a churn bar.

Low volume bars: A low volume bar is a bar which has a lower volume than for all preceeding bars of the lookback period.

The indicator uses two lookback periods. The larger lookback period identifies stronger climax and churn bars, the smaller lookback period points to weaker climax and churn bars and is used to identify low volume bars.

A breakout or climax bar may occur at different locations. It may start a trend as a breakout bar, it may indicate that an existing trend continues after price has consolidated or it may occur at the end of a trend and indicate that the trend is near exhaustion. This bar type is similar to classic types of gaps that may be found on daily charts. There are runaway gaps, continuation gaps and exhaustion gaps. Breakout or climax bars may be used as a subsitute for those gaps when trading smaller timeframes.

Relative Volume: When you use the BetterVolume indicator with intraday data, it is pretty much distorted at the beginning of the regular session. When compared to pre-session bars, all the bars in the beginning of the regular session look like high volume bars, which in turn leads to false signals. This behavior is corrected when the Better Volume indicator is applied to "relative volume" instead of "absolute volume". This version of the indicator allows for performing the Better Volume calculations on both absolute volume and relative volume.

Sound Alerts: The indicator comes with sound alerts.

Market Analyzer Column: I have included a market analyzer column with the install file. The market analyzer column will return bar codes for each type of signal: strong climax churn bar = 0, strong climax bar = 1, strong churn bar = 2, weak climax churn bar = 3, weak climax bar = 4, weak churn bar = 5, low volume bar = 6, upclose no signal bar = 7, downclose no signal bar = 8, doji no signal bar = 9. Based on these values you may define cell conditions and show the signals as text with background color on the market analyzer.

Update version 1.1: Bug removed. Sound alerts did not fire, because the path for the sound files had not been initialized.

Update version 1.3:: Holiday calendar updated for Relative Volume indicator, sound alerts now working on inactive charts.

Nota: The forum software has renamed the downloadable zip file to the false version number 1.0. Please disregard the version number of the zip file. The zip file contains the indicator version as specified above.

Category NinjaTrader 8 Indicators and More

Details: Better Volume (amaBetterVolume)
Category: NinjaTrader 8 Indicators and More

August 22nd, 2018
Size: 26.72 KB
Downloaded: 2221 times

Keywords: bettervolume churn climax climaxchurn volume vsa

Better Volume with Sound Alerts

Exported using NT Version 7.0.1000.26

This is a simple version of the Better Volume Indicator from https://www.emini-watch.com/. It is not based on the later versions but the original version and identifies the following events

Breakout or Climax Bars: A breakout or climax bar is a bar with the highest value for the product of volume and range within the lookback period.

Churn Bars: A churn bar is a bar with the highest value for the volume per range within the lookback period.

Climax Churn Bars: A climax churn bar is a high volume bar that qualifies as both climax and churn bar.

Low Volume Bars: A low volume bar is a bar that has the lowest volume within the lookback period.

The indicator uses two lookback periods. The larger lookback period identifies stronger climax and churn bars, the smaller lookback period points to weaker climax and churn bars and is used to identify low volume bars.

Sound Files: The sound files are user selectable. You first need to copy your sound files to the directory C:\Program Files\Ninjatrader 7 \sounds. You can then select these files via the indicator dialogue box. Make sure that your sound files are compatible with NinjaTrader. NinjaTrader 7 does not support wav\MPEG, you need to convert it to wav\PCM first with an audio recorder.

Some further ideas and the sound files that I use can be found here:
https://nexusfi.com/traders-hideout/9042-better-volume-indicator-sound-alerts.html

Version 1.1, April 22, 2011: Bug fixed, low volume bars were not shown correctly.
Version 1.2, January 22, 2012: Paint bar option added. Overlay version showing paint bars only is included. Values for different bar types are exposed as IntSeries
Version 1.3, September 27, 2012: Code efficiency improved, following suggestions by @Zondor.
Version 1.4. December 28, 2012: Bug removed, sound alert for low volume alert was triggered for all bars with setting COBC = false.
Version 1.5. February 10, 2015: Bug removed, paintbar opacity was not applied for low volume upclose bars with setting COBC = false.

Category NinjaTrader 7 Indicators

Details: Better Volume with Sound Alerts
Category: NinjaTrader 7 Indicators

February 10th, 2015
Size: 355.19 KB
Downloaded: 6631 times

Keywords: bettervolume churnbars climax climaxchurn expansion