Indicators: Volume Average - page 3

New comment
 

@Mladen Rakic, you are the gifter that keeps on giving. Thanks a million for posting your source code. It is a 99% solution for what I've been trying to code.

For CME Futures traders, I've attached a slightly modified version for futures real volume that still has the option to use forex tick volume. It allows a separate or custom symbol to be entered as a BaseSymbol. Generally mini, micro, or nano futures contracts on a centralized exchange have less volume than their respective standard contracts on the same exchange. Therefore, standard volume controls all price action. This version allows the heavier volume to show on mini, micro, or nano contract charts.

I reserve no copyright for such a small edit. All copyright remains reserved by Mladen Rakic.

 
Azham Zainal #:

The green bars show volume that is higher than both the average volume as well as the breakout level which can be defined in the settings and the candle that produced the volume closes bullish.

The red bars require the same two things, but the candle must close bearish.

The light green and orange bars show lower than average volume for both bullish and bearish candles respectively.

Might be a nooby question, but what is the breakout? Is a breakout to describe it went above/below the average?
 
zzeog #:
Might be a nooby question, but what is the breakout? Is a breakout to describe it went above/below the average?

In terms of this indicator, yes. The goal is to determine when a price surge will happen based on the indicator reading.

 
Great indicator! Thanks for sharing.
 
I liked it a lot.
 
Ryan L Johnson #:

@Mladen Rakic, you are the gift-giver who keeps on giving. Thanks a million for posting your source code. It's a 99% solution for what I've been trying to code.

For CME futures traders, I've attached a slightly modified version for real futures volume that still has the option to use forex tick volume. It allows you to enter a standalone or custom symbol such as BaseSymbol. Generally mini, micro or nano futures contracts on a centralised exchange have less volume than their respective standard contracts on the same exchange. Therefore, the standard volume controls all price action. This version allows the heavier volume to be displayed on the charts of the mini, micro or nano contracts.

I reserve no copyright for such a small edition. All rights reserved by Mladen Rakic.

I've been looking for a way to display the parent contract's volume on micro and mini futures, and your modification looks extremely useful.
123
New comment