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Leg Volume Indicator

  • #81
  • Nov 29, 2020 8:48am Nov 29, 2020 8:48am
Quoting Gauer
The indicator I posted shows the tick delta per bar. The values on the pivots of the ZZ would be the sum of this value, sum of tick delta of all bars in a ZZ leg.
Tnx for reply! i have done it...but i don't understand tick delta what is exactly..... i will test this week

https://www.forexfactory.com/thread/...6#post13285996
  • #82
  • Nov 29, 2020 3:04pm Nov 29, 2020 3:04pm
For example EURUSD WEEKLY, last DOWN SWING has DSV (DeltapipSwingVOlume) +39....usually down swing has negative numbers and up swing positive ones....

Is it a strong signal of BULL market? It seems
Attached Image (click to enlarge)
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  • #83
  • Edited 5:06am Nov 30, 2020 2:57am | Edited 5:06am
Quoting helioss
For example EURUSD WEEKLY, last DOWN SWING has DSV (DeltapipSwingVOlume) +39....usually down swing has negative numbers and up swing positive ones.... Is it a strong signal of BULL market? It seems {image}

Yes that is what I like to see when going long, positive delta on a down swing, or negative delta on an upswing, for shorts. It is just a cherry on the cake, when you get a setup plus those readings.

Tick volume delta is a proxy for real delta (which is buying volume minus selling volume)

I recommend using a different algorithm for the zigzag, a Gann Swing formula gives better readings.

I also recommend that you add an option to show/hide the values we want to see on the chart, for example I would be only interested in seeing the delta value, so all the other values will clutter the chart if we canīt hide them.

I will attach an indicator here for you to copy the code, but you have to add an option so you can change how many consecutive higher highs or lows are needed for the swing to change direction. At the moment is hard coded to 2 bars reversal.

If you use 3 bars, then a swing will change direction with three consecutive higher highs or lower lows, if set to 4 bars,4 consecutive higher highs/lower lows, and so on...

Attached Image (click to enlarge)
Click to Enlarge Name: gann.png Size: 72 KB
Attached File(s)
File Type: mq4 GannSwing.mq4   5 KB | 785 downloads
  • #84
  • Nov 30, 2020 9:22am Nov 30, 2020 9:22am
Tnx for your explanation
  • #85
  • Nov 30, 2020 1:34pm Nov 30, 2020 1:34pm
Quoting helioss
Tnx for your explanation

Another option you should add in the indicator is the ability to choose how many bars to use in the calculation, because otherwise itīs gonna use all bars loaded on the chart, this can take a toll in CPU.

Are you planning in coding a version for MT5 too? Please do...
  • #86
  • Dec 1, 2020 10:36am Dec 1, 2020 10:36am
I see GannSwing, i'm not so agree to use it, zigzag seems more fitted to chart

System starts to born, now i have improved DeltaTick Volume with also CumulativeDelta
Attached Image (click to enlarge)
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  • #87
  • Dec 1, 2020 10:44am Dec 1, 2020 10:44am
i'm trying to reproduce this template....
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  • #88
  • Dec 1, 2020 11:07am Dec 1, 2020 11:07am
Great signal on UsaInd: after today high quotes goes down (red arrow with high volume DSV -5666) followed by weak up swing (green arrox DSV was NEGATIVE)

So rules say: entry SHORT to breakout previous swing down (29960). Cumulative Delta also crossed below 0.

RESULTS -100 points
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 20 KB
  • #89
  • Dec 1, 2020 12:27pm Dec 1, 2020 12:27pm
Quoting helioss
i'm trying to reproduce this template.... {image}
Helioss,

Where can i find the ZZ with the volume values? If you have it,could you please share it.

Thanks
  • #90
  • Dec 1, 2020 12:39pm Dec 1, 2020 12:39pm
Quoting aaven
{quote} Helioss, Where can i find the ZZ with the volume values? If you have it,could you please share it. Thanks
I'm using my own.....i'm trying to code it
  • #91
  • Dec 1, 2020 1:00pm Dec 1, 2020 1:00pm
Quoting helioss
{quote} I'm using my own.....i'm trying to code it
Thanks Helioss for the answer...
  • #92
  • Dec 1, 2020 2:25pm Dec 1, 2020 2:25pm
Quoting helioss
Great signal on UsaInd: after today high quotes goes down (red arrow with high volume DSV -5666) followed by weak up swing (green arrox DSV was NEGATIVE) So rules say: entry SHORT to breakout previous swing down (29960). Cumulative Delta also crossed below 0. RESULTS -100 points {image}
Update....it seems to work
Attached Image (click to enlarge)
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  • #93
  • Dec 2, 2020 11:32am Dec 2, 2020 11:32am
Quoting helioss
i'm trying to reproduce this template.... {image}

That cumulative delta from the screenshot I posted is periodic. What I mean by that is that it plots the histogram based on the delta if the last "x" bars (you can see on the screenshot that it is set to 20 bars). The one you added the MA is cumulating the value at each bar (your MA is set to 1 - or at least it looks like it)
  • #94
  • Dec 2, 2020 11:43am Dec 2, 2020 11:43am
Quoting Gauer
{quote} That cumulative delta from the screenshot I posted is periodic. What I mean by that is that it plots the histogram based on the delta if the last "x" bars (you can see on the screenshot that it is set to 20 bars). The one you added the MA is cumulating the value at each bar (your MA is set to 1 - or at least it looks like it)
Hi! No yellow line is simply N bars Cumulative Delta volume (in my post is 24 bars)
  • #95
  • Dec 3, 2020 2:34pm Dec 3, 2020 2:34pm
ZigZag on Close seems better than ZigZag on HL, OUTSIDE BARS in this way are avoid.
I'm studing this technique and i'm very impressed how it works.

I try to plot SR based on peak value DSV, at moment i have set x1.5 of mean value. My idea is that levels should be important SUPPLY/DEMAND areas
Attached Image (click to enlarge)
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  • #96
  • Dec 4, 2020 3:32am Dec 4, 2020 3:32am
I recommend you to ditch the MA applied on cumulative delta, it wonīt add anything to your analysis given that cumulative delta is used to look for divergence, MA cross has nothing to do with it.

Also, what are your plans with this indicator, are you gonna share here with us? This is MT4 or MT5? And will you code a MT5 version? I fully migrated to MT5 now.
  • #97
  • Dec 4, 2020 6:16am Dec 4, 2020 6:16am
Quoting Gauer
I recommend you to ditch the MA applied on cumulative delta, it wonīt add anything to your analysis given that cumulative delta is used to look for divergence, MA cross has nothing to do with it. Also, what are your plans with this indicator, are you gonna share here with us? This is MT4 or MT5? And will you code a MT5 version? I fully migrated to MT5 now.
I'm sorry i jnow well MQL4, not MQL5....but i'm studing it. At moment indicator works only on MT4.
  • #98
  • Dec 4, 2020 2:27pm Dec 4, 2020 2:27pm
Quoting helioss
{quote} I'm sorry i jnow well MQL4, not MQL5....but i'm studing it. At moment indicator works only on MT4.

Ah ok...

It is quite easy (for a coder ) to write code that compiles on both mt4 and mt5. Mql5/4 syntax is exactly the same, some features are different and some lack completely on mt4.

https://www.mql5.com/en/articles/66

https://www.mql5.com/en/articles/81
  • #99
  • Dec 12, 2020 3:02am Dec 12, 2020 3:02am
Quoting helioss
{quote} I'm sorry i jnow well MQL4, not MQL5....but i'm studing it. At moment indicator works only on MT4.

Hi there mate, arenīt you gonna share the indicator here with us? I mean the zig zag volume.
  • #100
  • Edited 5:54pm Dec 14, 2020 3:37am | Edited 5:54pm
Alright, I see... Just one more of those who come here and grab code shared by others, ask for help and explanations, get them but give nothing in return...
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