I'm using this on a 5 minute chart. I am not sure of its usefulness on anything smaller.
You'll need a semi-wide right margin to see the text, or you can edit the indicator itself if you want to adjust that. v-d1..v-d5 just represents how many days back the line represents, I have it set to do a 5-day rolling action now.
All the lines are drawn ahead of time and do not change intraday.
Everybofy who is interested in Volume Spread analysis should use this Script. It is great for learning purposes and as tool for trading.
The Original Code is from Karthik who wrote the code for Amibroker: Here you can find the Original code: http://vpanalysis.blogspot.com/. He has also an excellent primer on VSA. If you can't get anymore shoot me a PM with your Email.
All types of VSA signals are coded with a paintbar: Red Square - UpThrust bar. Blue Diamond - Reversal possible, yesterday was high volume wide spread up bar, but today we reached 10 days high with low close wide spread down bar. Red Triangle Down - UpThrust confirmation. Lime Square - Strength bar (either strength is showing in down trend or a supply test in up trend). Yellow Triangle Up - An Upbar closing near High after a Test confirms strength. Lime Diamond - Stopping volume. Normally indicates end of bearishness is nearing /OR/ No supply. Lime Triangle Up - The previous bar saw strength coming back, This upbar confirms strength. Blue Square - Psuedo UpThrust, A Sign of Weakness /OR/ A High Volume Up Bar closing down in a uptrend shows Distribution /OR/ No Demand. Blue Triangle Down - A Down Bar closing down after a Pseudo Upthrust confirms weakness. Yellow Triangle Down - High volume Downbar after an upmove on high volume indicates weakness. Aqua Triangle Up - High volume upbar closing on the high indicates strength (in short term down trend). Deep Pink Square - Test for supply. Turquoise Diamond - Effort to Rise. Bullish sign. Yellow Diamond - Effort to Fall. Bearish sign.
Within the chart there are three information boxes, that even give you information to the signals (great for learning), suggestion what to look for next, information for the spread, volume and trend.
Based on my needs, I have added couple new features to some of Gomi's indicators. The 2 new indicators are meant as add-ons (not replacements) to the original ones contained in the current GomPackage1.1.
GomDeltaVol_UpDown (based on GomDeltaVolume):
added option for "negative delta"plot below zero line; added "zero line" plot; disabled TotalVolume plot/calc.
Lifted from the BetterVolume2 Indicator available on the Ninja Forum and originally written by Barry Taylor and available for free, this one features a few additions including:
some of Cory's volume stop work;
some additional patterns (many of them experimental) which track various combination such as down bar, then churn, then up bar. Small-size wingdings are used to highlight such signals which can easily be turned off once they are learned and/or different ones added.
This is not nearly as sophisticated as many of the live-updating buysell/delta indies out there. The Tradestation version of BetterVolume does a good job of reading up and down ticks but this is much tricker in Ninja and this indicator was not programmed that way (though at this point I think it could/should be) with less difficulty than a year or so ago since more independent programmers out there have shared so much stuff.
To activate the volume signals, change the MA Period from 20 to 21. Then read through the Descriptions for the other options. It's fairly straightforward.
The attached pic shows two version of BetterVolume2 which I had up to ensure this latest version with a different name (so as not to over-write the original BetterVolume2 on others computers) was working correctly.
I like this indicator a lot and trying to make it to a scalping Strategy.
I can.t program it to a strategy or even as an indicator to plot something i can use as a strategy entry.
Can somebody please use it and create a Strategy for scalping with 2-3 ticks target and a stop please ?
Or just an indicator that when i adress the plot from the strategy wizard i can use it as a trigger.
This is a realtime indicator that measures money flow by the individual tick. Not related to NYSE TICK. It does a decent job of showing which swings are real moves with volume behind them and which are just retracements.
Noticed when writing my trading journal (so glad I found this forum, thanks Mike, and all those I've learned from) I was constantly noting the DOM. So, decided to have an indicator that visualized it.
This is ladder based on jtRealStats code (NT downloads) and looks at the ending cumulative volume of bids and asks for each bar. In the code I limited the idx to the 5 levels above and below. Previous postings have noted that a equally-weighted and heavy DOM is one sign of Barb Wire (AL Brooks). Thus, a vaccum for your trading $$$.
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: NO (sam028)
This indicator is a variant of OBV called PVT that is uses only a part of the volume in each bar for calculations, depending on how far price has moved. I find it to be more steady and accurate than OBV for determining overall trend - doesn't whipsaw up and down as much.
April 8th, 2010 04:18 PM anniebee321 i cannot see any data associated with this indicator?
January 10th, 2010 12:55 PM GoldStandard Thanks again for this tool. It's interesting to be able to view how the buyers/sellers order relationship changes at cer
tain points.
I ran across a site you might find interesting that is doing some work with order book analysis: tradingphysics.net. The
y have some interesting oscillators based on level 2 data & claim to have achieved quite a high success rate with them.
(i have no association with them)
I have a small request if its not too much trouble. For me it's a little bit counter-intuitive that the Total Buy line g
January 9th, 2010 09:18 PM GoldStandard Nice work and thank you! I'm trying this out now on replay mode.
January 7th, 2010 12:44 PM cclsys Thxs alot. I like indicators that give straight info that is otherwise hard to see (like Vwap and POC etc.). I also look
at the DOM alot and suspect this visual translation will prove helpful in learning to read various situations better.
April 25th, 2016 06:20 PM 75martin Thank you for your work.
April 4th, 2015 01:22 PM ShaunG Looking for a Volume indicator which uses "Ticks" to measure volume. I am exited to give this indicator a try!
November 14th, 2011 11:36 AM peakskill Can you provide more information on how to read this indicator?
August 13th, 2010 12:07 PM redpilot When for NT 7? I donīt know convert it to NT7
May 28th, 2010 06:07 AM Serninja Many thanks! Unfortunately not (yet) for NT7. Soon?
February 26th, 2010 07:34 PM PandaTrader You are right, sorry about that. I just saw you posted and uploaded it before him. Sorry, credits go to you then.
Thank you, Prtester
February 26th, 2010 05:25 PM Prtester Well that one look exactly as my code, even the shading area that roonious help me fix, :-( too bad .