Volume Bar Timer

Measures the length of time a volume bar takes to complete and plots the average over 'n' periods. The indicator will also paint the main charts bar outline based on the time taken to complete the bar in relation to the average.

The variance from the average can be set by the user as a percentage. A fast bar is defined as the average time minus twice the 'offset' value. (For this reason the maximum offset allowed is 49 ‐ as twice this is 98 ‐ so a bar painted as a fast bar with the offset at 49 has completed in 2% of the average time.)

A fast average bar is defined as the average minus the 'offset';

a slow average bar as the average plus the 'offset';

a slow bar as anything else.

A maximum plot length / time has been set to 2 mins to prevent overnight / weekend 'squishing' of the graph.

Colors have only been assigned to the Fast and fast average bars. Users may add colors for the other two if they wish by substituting 'Empty' in the code for your choice of color.

The default offset of 40 is for a 3000 volume bar on the ES, the average is personal choice but remember a bars tag of 'fast' etc is relative to the average of the previous 'n' bars. The idea of the indicator is to spot a volume change as its occurring to support your signal / trigger. The longer the average the less likely you are to see volume 'accelerating' . If you set a shorter average then your bars will be reflecting very recent activity so a color change on consecutive bars from slow to slow average to fast average to fast would suggest that volume is 'accelerating' or a breakout / continuation has good support / momentum.

Created By stocktraderbmp
NinjaTrader Version 7
File Size 4.2 KB
Create Date 02/15/2012
# of Downloads 1340

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