I am wondering if someone could please help me with the layer order of the volume bars and time adjusted moving average in Marney's volume indicator. With the original code and MC the time adjusted moving average is in the back of the volume bars, but I would like to have it in the front.

I am aware that TS and MC has opposite layer order from which order the plotting is set up in the code, but with this indicator I am not able to figure out how to reverse it.

Another thing is that it is not possible to change the weight of the time adjusted average line. If this could be done something with, that would have been nice.

I have only added RGB color control to the code, which is not in the original code:

 

Code

{***********************************************} {Marney Indicator(TM) - Marney Volume Indicator(TM) Copyright Caspar Marney, Marney Capital 2010(C)} {***********************************************} input: avgLen(25), mins.in.session(1440), autobars(False), upcolor(RGB(0, 140, 0)), dncolor(RGB(230, 0, 0)); var: start(0), end1(0), end2(0), x(0), p(-1), count(0), avg(0), barsinday(0), DayNumber(0); array: xv[199,1440](0); if bartype < 2 then begin start= (sessionstarttime(1,1)); end1= (sessionendtime(1,1)); end2= (sessionendtime(1,2)); value1 = timetominutes(start); value2 = timetominutes(end2); if start > end2 then value3 = 1440+(value2-value1); if start < end2 then value3 = -(value1-value2); if autobars = false then value3 = mins.in.session; barsinday = ceiling(value3/barinterval); if d<>d[1] then begin if count=barsinday then begin p=iff(p<avgLen-1,p+1,0); for x=1 to barsinday begin xv[p,x]=ticks[barsinday+1-x]; end; end; count=1; end else count=count+1; if xv[avgLen-1,count]>0 then begin avg=0; for x=0 to avgLen-1 begin avg=avg+xv[x,count]; end; avg=avg/avgLen; plot2(ticks,"ticks",default,1); plot1(avg,"avg",yellow,default,1); end; if close > open then setplotcolor(2,upcolor); if close < open then setplotcolor(2,dncolor); end; if bartype > 1 then begin avg = averagefc(v,avglen); plot2(v,"ticks",default,1); plot1(avg,"avg",yellow,default,1); if close > open then setplotcolor(2,upcolor); if close < open then setplotcolor(2,dncolor); end;

Thanks,
Laurus

Maybe I am not understanding.... but if Plot2 is "on top of" Plot1, then why not just make Plot2 -> Plot1, and Plot1 -> Plot2.

Mike

Thank you for the reply Mike.

I have tried the normal layer order procedure, but for some reason I do not understand the coloring becomes wrong.

When I do like in the code below the average is on top and both the volume and the average displays correct values as shown in the attached picture, but as one can see the coloring is somewhat reversed. The insert settings is correct.

 

Code

avg=avg/avgLen; plot1(ticks,"ticks",default,1); plot2(avg,"avg",black,default,1); end; if close > open then setplotcolor(2,upcolor); if close < open then setplotcolor(2,dncolor); end; if bartype > 1 then begin avg = averagefc(v,avglen); plot1(v,"ticks",default,1); plot2(avg,"avg",black,default,1); if close > open then setplotcolor(2,upcolor); if close < open then setplotcolor(2,dncolor); end;

Laurus

For those interested in knowing some more about Caspar Marney's Volume and Range indicators I would recommend starting here.

Caspar Marney's website with more articles are here.

Note that Mr. Marney is mainly going into the relationship between actual trade volume and tick volume for Spot FX, but his indicators and the principle behind them can be used with other markets and volatility also.


Laurus

the SetPlotColor() code would need to be updated to the new plots (2 --> 1, 1 --> 2). Also you need to be removing the indicator and re-adding it to MultiCharts, as changing Plots without doing so doesn't always work.

Mike

Great! That's more like it. Thanks a lot Mike. Learned something new here.


Attaching both the Volume and Range indicators in "MC style" with the time adjusted moving average on top.

With Futures one have to set "autobars" to "true". Then for the FX futures I have set average to 24 periods and "mins.in.session" to 1380.

Unfortunately the indicators are only meant to be used with 60 minute bars. From what I have read Mr. Marney has not come up with a solution for like 15 and 5 minute bars yet.


Laurus