BETTER VOLUME

[emc320]

hello all, just joined EarnForex today. wanted to echo trade3925 interest in betterVolume candle colors.

Attached are Sonic's (FF) candles indicator to show what I think trade3925 is asking for.
Another example of what trade3925 is asking for is here on EarnForex but in mt5 version: https://www.earnforex.com/forum/thr...-v1-5-with-sound-and-email-alert.10290/page-5

I agree with trade3925 in that color-coding main chart price action candles to better volume colors would be ideal because pairs like Red/Green or White/Green are easy to pick out. I've noticed on multiple time frames these usually are literally paired next to each other at tops or bottoms. The price action usually looks like a morning/ evening star but sometimes doesn't capture on candlestick pattern recognition indicators. Therefore, color-coding the main chart price action candles would help identify easier.

The problem with trade3925's attached bettervolumeBars are that it doesn't paint wicks well. If you play with the width each color can look more obvious but it still retracts from seeing stop hunts because wicks get removed.
If you play with color settings it still makes pinbars hard to pick out as the wicks are tough to spot.

Thanks

 

[Enivid]

The problem with adding real candlestick display to the chart in the MT4 Better Volume indicator version is the fact that MT4 (unlike MT5) does not support candlestick drawing style for indicators.

 

[emc320]

Gotcha, bummer. Thanks for checking. Is it possible to modify trade3925's BV candle indicators to show color in the candle body only? That would leave the wicks default color like Sonic's indicator, easier to see stop hunts. I tried Sonic's but the colors are different & for different reasons.
Not a huge deal though, in the meantime going to try mt5 demo and see how their candle indi looks.

thanks again

 

[Enivid]

I could probably do it, but considering the length of my current to-do list, your best solution would be to ask someone else to make that modification or to hire some coder on Upwork/MQL5 to change that.

 

[emc320]

roger roger

 

[creamillion]

OK. See the attached converted indicator:

hallo bro, can you add sound(alert on colours) to this indicator for mt5 ?

 

[Enivid]

hallo bro, can you add sound(alert on colours) to this indicator for mt5 ?

Did you try the one from this post?

 

[jjmmbb]

Dear Administrator, your bettervolume is fantastic. May I suggest an improvement? There is an indicator in tradingview that project the daily volume. So may be is possible to add this behavior to BetterVolume-2 file. Basically if projected volume boolean option is set to true and the time frame is Daily, you can use this code to project the daily volume for the day.

It's just a suggestion to improvement.

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © gabasco

//@version=5
indicator(title="Projected Volume", overlay=false, format = format.volume, max_bars_back=5000)

// 1. Input
volumeTypeInput = input.string(defval="Financial", title="Volume Type", options=["Financial", "Quantity"], group="Settings")
maTypeInput =   input.string(defval="SMA", title="Type", options=["SMA", "EMA", "WMA", "RMA", "HMA", "VWMA", "SWMA"], group="Moving Average")
maLengthInput =   input.int(defval=20, title="Length", minval=1, step=1, group="Moving Average")
maShowInput = input.bool(defval=true, title="Show", group="Moving Average")
tradingHoursInput = input.float(defval=24.0, title="Trading Hours", minval=0.5, maxval=24, step=0.5, tooltip="Affects only the daily timeframe", group="1-day timeframe (only)")

// 2. Variables
color realColor = close > open ? color.rgb(146, 210, 204) : color.rgb(247, 169, 167)
color projectedColor = color.rgb(181, 182, 187)

float realVol = 0.0
float cumVol = 0.0
float projectedVol = 0.0
float tf = 0
float tradingMinutes = tradingHoursInput * 60
float dayInMinutes = 1440


// 3 . Functions
getMA(maType, maLen) =>
    switch maType
        "SMA" => ta.sma(realVol, maLen)
        "EMA" => ta.ema(realVol, maLen)
        "WMA" => ta.wma(realVol, maLen)
        "RMA" => ta.rma(realVol, maLen)
        "HMA" => ta.hma(realVol, maLen)
        "VWMA" => ta.vwma(realVol, maLen)
        "SWMA" => ta.swma(realVol)


// 4. Calculations
if timeframe.isdaily
    tf := timeframe.in_seconds(timeframe.period) * tradingMinutes / dayInMinutes
else
    tf := timeframe.in_seconds(timeframe.period)

elapsedTime = (timenow - time) / 1000

if volumeTypeInput == "Financial"
    projectedVol := volume * close * tf / elapsedTime
    realVol := volume * close
else
    projectedVol := volume * tf / elapsedTime
    realVol := volume

// Check for error
cumVol += nz(volume)
if barstate.islast and cumVol == 0
    runtime.error("No volume is provided by the data vendor.")

ma = getMA(maTypeInput, maLengthInput)

// 5. Drawings
plot(barstate.islast ? projectedVol : na, title="Projected", color=barstate.islast ?  projectedColor: realColor, style = plot.style_columns)
plot(realVol, color=realColor, title="Real",  style = plot.style_columns)
plot(maShowInput ? ma : na, title="MA", color=color.blue, linewidth=1)

 

[Christoper Lada]

Hello Admin

Thank you for convert this beautiful indicator.
But can you kindly help to improve a little bit more functions?

When the new bar is higher than two previous bars, color = Light Blue.
When the new bar is lower than two previous bars, color = Brown.
When the new bar is higher than the first of two previous bars but lower than the second of two previous bars, color = Blue.
.
Thank you so much in Advance .

 

[Enivid]

Hello Admin

Thank you for convert this beautiful indicator.
But can you kindly help to improve a little bit more functions?

When the new bar is higher than two previous bars, color = Light Blue.
When the new bar is lower than two previous bars, color = Brown.
When the new bar is higher than the first of two previous bars but lower than the second of two previous bars, color = Blue.
.
Thank you so much in Advance .

Why would that be an improvement? What would happen with the existing colors?

 

[Christoper Lada]

Why would that be an improvement? What would happen with the existing colors?

Sorry I don’t mean about Improvements my mistake.

I mean I just want you to add more three functions because I use MT4 BetterVolume latest version, it has these three functions as you can see in attached file below.

 

[Enivid]

Sorry I don’t mean about Improvements my mistake.

I mean I just want you to add more three functions because I use MT4 BetterVolume latest version, it has these three functions as you can see in attached file below.

I still don't understand why would I add these new functions? How useful are they to traders? Why should they be added to this indicator?

They would overwrite almost all the existing colors. The only color it won't be overwriting is for bars that are lower than the first previous but higher than the second previous. Besides, which of the two previous is first and which is second? You should have specified by designating them as the most recent or the oldest of two.