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The Better Volume Indicator |
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holygrail ![]() Newbie ![]() Joined: 03 Jul 2018 Posts: 1 |
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Hello, hoping Maximo or Niftyg (or anyone still following this thread) are able to help here. I believe the Better Volume Indicator has been updated since Maximos last post of 2011. Is it possible for one of the coding gurus to visit http://emini-watch.com/free-stuff/volume-indicator/ and see if they can reproduce the new version for BullCharts? I tried but failed miserably :( Thank you in advance. |
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cudderbean ![]() Regular ![]() ![]() Joined: 02 Oct 2006 Location: Thailand Posts: 40 |
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Hear hear, Tanaka!
Thank you Maximo and Niftyg for your very generous sharing of ideas... your coding really helps newbies like me to learn.
Have you considered an e-manual to supplement the Bullscript and Bullscan help files. I'd certainly buy it.
i think BC already beats Metastock hands down.. mainly because of the ease of importing and exporting lists to Excel and into WebIress for instance.
Such a manual might boost user numbers.. the more the merrier.
Thanks once more.
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maximo ![]() BullCharts Guru ![]() ![]() Joined: 02 Sep 2006 Location: Australia Posts: 232 |
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Yes that looks more consistent Nifty!
{ Updated code}
[description="Better Volume Indicator - http://emini-watch.com/free-stuff/volume-indicator/"]
Range := High - Low; Value1 := Volume; Value2 := Volume*Range; Value3 := If(Range<>0,Volume/Range,0); ma(Value1,100,S); [linestyle=Grounded Bar; width=4] [Color=Cyan] { Normal bars } Volume; [Color=Gold] { High volume bars } GoldBar:=If(Value1 = Highest(Value1,20) and Close < Open,V,undefined); GoldBar; [Color=Red] { Volume climax bars } RedBar:=If(Value2 = Highest(Value2,20) and Close > Open,V,undefined); RedBar; [Color=Lime Green] { High churn bars } GreenBar:=If(Value3 = Highest(Value3,20),V,undefined); GreenBar; [Color=Magenta] { Climax & High churn bars } MagentaBar:=If(Value2 = Highest(Value2,20) and Value3 = Highest(Value3,20),V,undefined); MagentaBar; [Color=Coral] { Low churn bars } OrangeBar:=If(Value1 = Lowest(Value1,20),V,undefined); OrangeBar; |
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Niftyg ![]() Newbie ![]() ![]() Joined: 23 Mar 2011 Location: Gold Coast Posts: 11 |
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Hi Max and Tanaka,
Just a further update.
Change the coding of the orange bar to:
If(Value1 = Lowest(Value1,20),V,undefined); if you want to see the lowest volume bar in the last 20 bars as per the web site.
Regards
Nifty
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Niftyg ![]() Newbie ![]() ![]() Joined: 23 Mar 2011 Location: Gold Coast Posts: 11 |
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Hi Tanaka,
I think I might be able to answer that for you. Try using "is defined" instead of true.
Regards
Nifty
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Tanaka ![]() Newbie ![]() Joined: 08 Jul 2010 Posts: 18 |
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Right once again Niftyg! I have made the changes. Once again thank you Max for your coding and thank you Niftyg for your diligence. I have already found the indicator quickens up my analysis of volume/price action. I think I might even play around with the standard 20 bar look back to see if there are more optimal settings even though at first glance 20 bars looks sufficient. I don’t want to bother Max anymore, he has been too kind! so does anyone know what I am doing wrong? I just want to set up my scan so that it finds EOD results from this indicator, when I put the first value to compare in BullScans as Better Volume Indicator (result 3) is true, I get an error message ‘The condition type you have selected may not be used with the type of first value’. Happy trading everyone! |
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Niftyg ![]() Newbie ![]() ![]() Joined: 23 Mar 2011 Location: Gold Coast Posts: 11 |
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Hi Max and Tanaka,
Thanks for the re-coding Max
![]() I have already changed it on my indicator (I can manage minor editing), just wanted to bring it to your and other readers attention.
Thanks Tanaka for bringing the indicator to my notice.
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maximo ![]() BullCharts Guru ![]() ![]() Joined: 02 Sep 2006 Location: Australia Posts: 232 |
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Good work Nifty, those changes made appear to be better signals.
Tanaka, the colours need to be assigned to variables for a scan to
pick them up. Should be okay now.
Good trading guys!
[description ="Better Volume Indicator - http://emini-watch.com/free-stuff/volume-indicator/"]Range := High - Low;Value1 := Volume;Value2 := Volume*Range;Value3 := If(Range<>0,Volume/Range,0);ma (Value1,100,S);[linestyle =Grounded Bar; width=4][Color =Cyan] { Normal bars }Volume ;[Color =Gold] { High volume bars }GoldBar:= If(Value1 = Highest(Value1,20) and Close > Open,V,undefined);GoldBar; [Color =Red] { Volume climax bars }RedBar:= If(Value2 = Highest(Value2,20) and Close < Open,V,undefined);RedBar; [Color =Lime Green] { High churn bars }GreenBar:= If(Value3 = Highest(Value3,20),V,undefined);GreenBar; [Color =Magenta] { Climax & High churn bars }MagentaBar:= If(Value2 = Highest(Value2,20) and Value3 = Highest(Value3,20),V,undefined);MagentaBar; [Color =Coral] { Low churn bars }OrangeBar:= If(Value3 = Lowest(Value3,20),V,undefined);OrangeBar; Edited by maximo - 23 Mar 2011 at 7:50pm |
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Tanaka ![]() Newbie ![]() Joined: 08 Jul 2010 Posts: 18 |
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You're right Niftyg. Good picking up on that! ![]() |
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Tanaka ![]() Newbie ![]() Joined: 08 Jul 2010 Posts: 18 |
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Sorry to disturb you again Maximo, I was trying to use this indictor to scan, but it can't produce any signals. Can this be done? |
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