BETTER VOLUME

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mjackson

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This is one of indicators that I use...it was created here http://emini-watch.com/ for trade station then someone coded it for MT4...It shows market activities. I would like to have it for MT5...Thank you.
 

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  • BetterVolume 1.4.mq4
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  • BetterVolume ChartBars part1 1.4.mq4
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  • BetterVolume ChartBars part2 1.4.mq4
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M

mjackson

Guest
Any Forex indicators that are using Volume are pretty useless.

I have no intention to change your mind about volume in Forex...Volume itself as a number is not important, it is activity that matters ...you compare volumes ( activities) and you can see what that activities do to price... so you can find out what professionals do...this requires learning ...and practising...I understand that is easier to use MA than volume. If you are not familiar with something it dsoesn't mean that is not good.

Kindly convert those indicators ( one is better volume and other two paint price bar as is better volume) to MT5. Two indicators for price bars can be only one in MT5.. it is two in MT4 because of buffer 8 or something...
 
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Enivid

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MT4 volume doesn't really represent anything. Yes, it depends on the number of ticks during the period, but it's different in every broker and has not connection with reality but rather with the data feed connection type of the particular broker. You'd better use volumes of the ICE currency futures or something like that.

I will convert them if I'll have time for that.
 
M

mjackson

Guest
....I will convert them if I'll have time for that.

Brokers who provide volume are different story. I use esignal which use 200 banks to provide data and then compare with broker's volume for best match.

Those are good: Best Direct, Windsor Brokers, Interbankfx and Ducaskopy.

Intrpretation of signal entirely depends on trader...There are traders who make money using MA and there are othres who funds them.
 
M

mjackson

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I wanted to upload this file which is description of Better volume indicator Better_Volume_Indicator.pdf. ..But got this message:

Your file of 335.1 KB bytes exceeds the forum's limit of 19.5 KB for this filetype.
 
M

mjackson

Guest
Please see attached file...

Indicator is modified and meaning of colors is little different then in document:

buying climax : Red
selling climax: White
climax(buying/selling) +Hi Churn: Magenta
Hi Churn: Green
Low volume: Yellow

Everything else is as is in document...
 

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  • Better_Volume_Indicator.pdf
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mjackson

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OK. See the attached converted indicator:

Thank you. For MT4 there are two more indicators which are part of Better Volume indicator: BetterVolume ChartBars part1 1.4.mq4 and BetterVolume ChartBars part2 1.4.mq4...(in post #1)
Reason for part1 and part2 is that MT4 has limitation with buffer (8) and for MT5 can be all in just one file like BetterVolume ChartBars.mq5

In meanwhile I am reviewing BetterVolume.mq5...Thank you in advance...
 
M

mjackson

Guest
Firstly what needs to be fixed is that all type of volume has own color and thickness...as is in MT4 version of Better Volume 1.4.

Secondly other two indicators has to be converted to MT5 which paint bars as per Better Volume 1.4. For MT5 these two indicators might become just one because MT4 has less buffer or something then MT5 and that is reason that MT4 has 2 Indicatrs for painting bars and MT5 can have only one...I might be wrong but someone in FF said so...Somewhere in code in those two indicatrs there is error which cose ddifference between white and magenta collor: BV1.4 can have white bar and painted bar can have magenta and vice versa...that is happening only for those two collors...everything else is good.

Thank you again.
 

Enivid

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Some questions before I begin:

1. BetterVolume ChartBars part2 1.4.mq4 does not draw anything when I attach it to the chart alone. Is that OK?
2. How those BetterVolume ChartBars part1 and part2 combine with BetterVolume 1.4?
 
M

mjackson

Guest
Those two files paint price bars as is Better Volume1.4...here is a pictuure to better explain...and Thank you.

Also you can see that price bar is collored magenta and Volume bar is white ( June 26,2012)...Of course it has to be same color.
 

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  • earnforex-bv1.4.gif
    earnforex-bv1.4.gif
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M

mjackson

Guest
I still don't get it. All three indicators should be combined into one?

There is three indicators of better Volume: Better volume 1.4 and other two are for painting price bars as per Better volume 1.4. For MT4 version nothing to do ...Those 3 indicators has to be converted for version MT5....

First place Better Volume 1.4 on chart then place other two...I had impresion that you know to insert indicators on chart....No, they dont need to be combined into one...However it might be possible to have only one indicator ( combninig part1 andpart2) for Better Volume1.4 price bars...so minimum 2 indicators and maximum 3 in version MT5....Or in other words just code each indicator for MT5...I don't know what else to say....

If you still don't understand then please gave up....Thank you.
 
M

mjackson

Guest
Thank you. Almost good:
Better Volume and BetterVolumeChart has common issue:

Firstly, Currently they have collors in one line and I would like to be each color separate raw.

Secondly Each type of those 4 volumes has to have its own color, width and Style in order to be changed inependently. Currently they have separate colors but common width and style...
Please see how is done in BetterVolume 1.4 in MT4 version....

It was eror as I mentioned before that Magenta and white colors on BetterVolumePriceChart is not always as on BetterVolume...I dont knowe if you fix it or not but I did not see such case on chart yet...So I am watching it and will tell you if there is a problem ...
If You want to put version# so we know which is latest.


mj
 
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