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Basically I listed to the noise, and if I watch my chart - not the indicator - then I will certainly see whether the price action is up or down.
It is no problem at all to select different colors for expansion up and expansion down bars, or churn up bars and churn down bars. The indicator now uses 9 different colors to paint the bars. If I include up and down as an additional criterion, the indicator will use 16 different colors. I am not really sure that anybody will still be able to figure this out, so I do not think that it would be an enhancement.
By the way I only use the indicator with 4 sound alerts. I am happy, if I am alerted and then find out what is happening on the chart.
hi fat tails,
thank you for this indicator. i'm trying to refine my trading and was looking into using volume as part of my strategy. i came across yours and i think it's one of the better ones around, as far as volume is concerned.
is there a way i could find the explanation for the various colored bars and how i could trade it? for e.g. if i find a breakout or climax bar, is expecting a reversal something i should look out for? things like that.
I don't see the sense of using speech in stored sound files when speech can be generated programatically.
Instead of using recorded files of sounds or of voices for the alerts, this version uses the text to speech capability of SystemSpeech.dll. For examples:
Windows has text to speech capability that can be used by NinjaTrader. That means that instead of having a bunch of indicators that play back humorous but meaningless and confusing .wav files, your indicators can recite text that can be controlled programatically …
The MIN and MAX functions are computation intensive. They are each only called once per bar, on the first tick, instead of on every tick.
Booleans that reset on first tick of bar make sure that each alert only sounds once per bar.
Consider this to be a work in progress, it seems to work but has not been thoroughly tested.
The indicator name is anaBetterVolumeX, but it will appear in your indicator list as ana Better Volume X with talking alerts, because in the Initialize method:
An indicator declared as a subclass of the GomRecorder can keep tabs on delta and trade size as well as total volume and range.
See attachment, Better Buy/Sell Volume, from about a year ago. This is a little rough around the edges and takes a long time to load... don't put it on a chart with more than a couple of hundred bars.
Sorry, it doesn't talk.
The main reason I am posting it is to solicit some suggestions as to what exactly we should be measuring to generate the best trading signals. Ideas, anyone?
here's one thing I'm always looking for. but have to say I'm taking this from a buy / sell volume indicator. if there are many aggressive sells (hitting the bid), but price bar closes up, that's normally a pretty good indication that price will reverse. I suppose churn bars are trying to show something similar.