I was just wondering if Better Volume (the indicator) is useful on Tick Charts or if it meant really just for time-based charts?

ycomp 

I was just wondering if Better Volume (the indicator) is useful on Tick Charts or if it meant really just for time-based charts?

The original author of the indicator (Barry Taylor) used it exclusively on tick charts.

For anything like this, you just have to try it yourself and see what you think. It may not work for you, or it may.

Bob.

I was just asking because I was watching a video (not related to better volume) saying volume is better monitored on time charts than tick charts (and as well I noticed that volume does look much more uniform on tick charts, which makes sense)... but I prefer tick charts so was just wondering if it is still applicable - which seems to be yes now that I read your response - thanks

ycomp 

I was just asking because I was watching a video (not related to better volume) saying volume is better monitored on time charts than tick charts (and as well I noticed that volume does look much more uniform on tick charts, which makes sense)... but I prefer tick charts so was just wondering if it is still applicable - which seems to be yes now that I read your response - thanks

I just took another look at Barry's web site, and it turns out he uses it for time as well as tick charts. But you get basically the same indications, it's just that the bars are, as you mentioned, more uniform on tick charts.

Bob.

ycomp 

I was just asking because I was watching a video (not related to better volume) saying volume is better monitored on time charts than tick charts (and as well I noticed that volume does look much more uniform on tick charts, which makes sense)... but I prefer tick charts so was just wondering if it is still applicable - which seems to be yes now that I read your response - thanks

If it helps, Barry doesn't use the better volume indicator any more, it was one of his early creations and yes he used it briefly on both time and tick charts. It doesn't really matter as he trades exclusively on tick charts with his other Indy's. I would apply it to both charts and use it on either type whichever looks better to you. As a side note I have noticed some veterans here spending a lot of time tinkering with better volume and recoding it for newer platforms, which Barry himself has stated on multiple occasions adds little value to your trading, when one can look at something more important like pro/amateur activity, cyclical top and bottoms along with pattern recognition for areas with momentum. Hope this helps

Sent from my SM-N900P using Tapatalk

planetmoto 

If it helps, Barry doesn't use the better volume indicator any more, it was one of his early creations and yes he used it briefly on both time and tick charts. It doesn't really matter as he trades exclusively on tick charts with his other Indy's. I would apply it to both charts and use it on either type whichever looks better to you. As a side note I have noticed some veterans here spending a lot of time tinkering with better volume and recoding it for newer platforms, which Barry himself has stated on multiple occasions adds little value to your trading, when one can look at something more important like pro/amateur activity, cyclical top and bottoms along with pattern recognition for areas with momentum. Hope this helps Sent from my SM-N900P using Tapatalk

Are you saying that he is saying that it should be completely ignored? or as it says here... used in combination with his other indicators?

The Better Volume Indicator (Free Code) | Emini-Watch.com

I mean is that just outdated info on his page?

ycomp 

Are you saying that he is saying that it should be completely ignored? or as it says here... used in combination with his other indicators? The Better Volume Indicator (Free Code) | Emini-Watch.com I mean is that just outdated info on his page?

Not exactly, Barry does not use Better Volume because he prefers his three primary indicators. He gave the code for free for others to use better volume to add to their own strategy. He is asked often if he uses it and always says he no longer get needs it because his better pro/am and better momentum give him the data he is looking for to find setups. If you find it useful keep using it, I'm just pointing out that Barry has moved on from using it in his own trading

Sent using the NexusFi mobile app

got it.. can be useful - just not as much as his other indicators.

could someone explain this option?

 

Code

Use2Bars

Description="Use last 2 bars for calculations? False = currentbar only"

What are the pros and cons of having it set (true) ?