This is exactly the same as BetterVolume2 with a minor change to accomodate NT Version 7.

I take not credit for originality just corrected it to work in NT 7 when CalculateOnBarClose= false;

Also credit to Bretrand and other Ninja support staff for pointing me in the correct direction to fix this.

Barry Taylor's latest Better Volume Indicator as described at

As you can see, it's quite different from, and far more complex than the original EasyLanguage Better Volume description, which can be found in the internet archives.

This is pretty much a straight port. I have verified that it performs identically on NinjaTrader and TradeStation 2000i for EOD bars. It will likely be somewhat different for intraday bars because TradeStation gives you UpTicks and DownTicks directly, whereas NinjaTrader must calculate up volume and down volume the same way for both EOD and intraday data.

You will notice that this version generates a lot more bars than the original BetterVolume indicator. Please direct any questions about that to Barry Taylor, not to me.

I have included three enhancements:

Optionally uses True Range rather than Range (you set it in the parameters, it makes a slight difference)
Plots an exponential moving average of the volume instead of simple moving average for efficiency.
Optionally paints the price bars, basically combining Taylor's indicator and PaintBar together.

Created By SammyC
NinjaTrader Version 7
File Size 8.3 KB
Create Date 10/14/2010
# of Downloads 6938

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