Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
i´m personally looking for exhaustion candles by small volume / big volume ratio , high activity(pace of tape ) and the biggest indicator of exhaustion for me is if there is buying above ask happening.
Can you help answer these questions from other members on NexusFi?
Firstly thanks for the great indicator. I use it on a 5 minute RTH ES chart. I don't understand why the 20 bar lookback period doesn't look at the voume of the bars formed at the end of the prior day? This would be a better solution than having no indication as the volume at the end of the session is frequently similar to that experienced at the open.
If you use a RTH session, the indicator will of course look at the volume of the bars formed at the end of the prior day. It always looks at the 20 prior bars available on the chart.
Thanks that makes sense I must have misunderstood you. Do you run the indicator on "Calculate on bar close" set to "False" or "True"? Would you you please explain your reason for this.
The answer seems obvious to me. I watch volume all the time, and of course I want to be alerted to a high volume event prior to the bar close! This is one of three indicators, which I always use in CalculateOnBarClose = false mode.
The low volume alert is coded in a way that it only will be triggered 15 seconds prior to the bar close, otherwise you would have low volume alerts all the time.
I have just recoded the indicator, because I had introduced a small bug with the last version, which suppressed all low volume bars - sorry for that. I have also added a parameter allowing to adjust the lead time for low volume alerts from 15 seconds prior to bar close to anything else.
FT, first a great big thanks for this wonderful indicator. It's simpler than other versions with only the most important things identified (namely churn and climax), and though I'm not using the sounds I think I will soon.
Someone earlier on the thread suggested to use the bars at the close of the last day session for the first X number of bars (10 for weak, 20 for strong). I'll be happy to do this myself but I'm not quite sure how to check the time of a bar, though it seems a more elegant solution could be done. I don't even mind hard coding the time of the bar. Especially on 5m charts, the first 1h40m are pretty much invalid for the strong lookback period.
Nice code by the way, it's very clean and easy to read :-)
I understand that you want to skip one session to calculate the climax and churn bars. For time frames > 15 minutes this may help, but for time frames < 5 min is does not solve the problem. The reason are the high volume bars that typically occur around the market close. These bars throw a shadow which squashes all climax and churn bars.
So either you get too many climax and churn bars (current indicator) or none (your suggestion). See chart attached.
Thanks FT. I will continue to just use my brain and realize the context in which high volume appears--doing it programmatically would be nice but I have no problem just thinking about it :-)
I have a little ėssue with the better volume : it is drawing quite every bars in yellow, and I would like to keep up bars in green and down bars in red when there is no Climax, Churn or climaxchurn...