Thx for the input. I have been looking at volume bars for a few days now and I am slowly coming around.
Prof - question for you - have you noticed on MultiCharts when you refresh your volume charts that what is presented can change quite a bit? I am using MC with Open ECry data and sometimes I'll get a dash for a candle or something, hit refresh, and then all of a sudden what is on the screen can change dramatically. Any way around this? What do you suggest? Obviously you want to trade with as clean data as possible, but it appears these volume charts have some serious shortcomings regardless of charting/data vendor being used. I've demo'd quite a few charting platforms and none really have a nice, clean, reliable volume based chart.
I may be wrong but I think thats fairly normal for constant volume charts. Again may be wrong but I believe it's because during the refresh the "starting point" (for lack of a better description) changes and therefore changes everything that follows. Anyway that's how it was explained to me last time I asked, I think I was using eSignal at the time although Ensign suffers from the same problem.
It's too bad that there isn't a provider that provides clean volume charts. If one exists, I have not found it yet. Either they create 'TradeStation' volume charts (your setting or higher) or they are not constant and consistent, as is the case with MultiCharts here.
I use MutiCharts and eSignal and do not have a ay problem at all. I have been told by some of my students that use other providers that they have problems. ESignal is solid though.
I use MultiCharts with TradeStation data. MC's constant volume charts, by which I live and die, are well-nigh perfect. That's my experience, anyway.
stoddlemier,the inventor of market profile,described price and volume with sweater prices in a store,the cheaper sweaters sold the most ,as prices rose sweater volume decreased til they were too hi priced for anyone so the store would lower the price to sell the sweaters.... when they came down to a price where they could sell the most sweaters for the max profit things stabilized....simple
prof and tortoise - do you refresh throughout the day to ensure your data is clean and perfect? I ask b/c with MC and OEC data, my charts look fine if I don't hit the refresh. You'd never know unless you were trying to see if there were discrepancies. I suggest taking a screenshot before a refresh and then after to see if there are noticeable differences. See these screenshots I took today: http://tinyurl.com/28uexo http://tinyurl.com/yw6fbd
Here is EasyLanguage code for Ergodic that I found on a website: ------------------------------------------------------------- Create this function in easy language: blaucsi inputs: r(numericsimple), s(numericsimple), u(numericsimple); value1= 100* TripleAverage(close-open, r, s, u); value2= tripleaverage(high-low,r,s,u); if value2 <> 0 then blaucsi = value1/value2 else blaucsi = 0 ------------------------------------------------------------- Create this indicator: Ergodic inputs: r(13), smooth1(5), smooth2(5); value1 =blaucsi(r,smooth1,1); value2 = blaucsi(r,smooth1,smooth2); plot1(value1, "Blaucsi"); plot2(value2, "sigline"); plot3(20,"Overbought"); Plot4(-20, "Oversold"); ------------------------------------------------------------- The author of this indicator says that Blau used r=26 and smooth=5 as the default. [/B][/QUOTE] Where does this formula come from?? TradeStation does not provide TRIPLE AVERAGE - so what can I do? Thx Charly