Enhanced trading with Candlevolume! by Enigma4X
Candlevolume is an indicator for enhanced and more profitable trading.
What's the idea of Candlevolume?
-> Price and volume usefully combined.
The integration of volume in the candlestick Chart price patterns, provides a meaningful maximum in information for analysis. It is the best visual display of price and volume interaction.
-> What is a candlevolume chart?
Traditional candlestick charts offer a distinctive range of analysis options. All rules are of course also valid in the application of Candlevolume charts. As we all know, up until now there are the usual volume displays ( as histogram ) below the price area, and there are some further refinements such as candle-volume charts, based on the Equivolume chart by Richard W. Arms.
The volume is displayed as the width of the Candle bodies. Our aim is to show the relative strength of the volume immediately, within the candles themselves. The primary goal is not to determine the exact volume value. Rather, it is about the width of the candle, thereby showing the individual strength or weakness behind a move in price. For pattern traders it is useful as it shows the relative buying or selling interest comprising the pattern itself.
What's your advantage if you combine Candlevolume with a trading system?
The human ability to quickly perceive pictures as numbers or letters, is an advantage. Candlevolume charts provide maximum information to estimate supply and demand. The technique is suitable for all levels of time, without leading to a distorted time scale. Even if you change the width of the Candles, just because of the volume, the time scale remains in a consistent format. This advantage makes it possible, - just as an example -, to use Fibonacci time projections or cycles analysis in Candlevolume charts.
Projections are based on the constant price scale, so the rules remain valid. (for example, Fibonacci retracements).
First picture is without using candlevolume indicator.
Second picture is showing the charts with using candlevolume indicator.
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Candlevolume is an indicator. For profitable trading, it should be combined with a trading system. At this point, Enigma4x recommends two trading systems. For long term trading use the free trading system by SonicDeejay and for short-term trading use the free scalping system by Cobraforex. Download and support for the systems is provided at Forex Factory. In the near future, additional free trading systems are supported with Candlevolume.
1. Short-Term Scalping System THV by Cobraforex.
A special thanks to Cobra for the development and design of the free scalping system THV.
The combination of THV with the Candlevolume indicator only creates a new visual display. All rules will remain. This free scalping system can be downloaded at Forex Factory.
- THV - Free Scalping System by Cobrafore Manuel + Indicators
- Candlevolumen Indi THV Template -> here <-
2. Long-Term Trading System M15 und Higher TF by SonicDeejay.
This system was developed and designed by SonicDeejay (Forexfactory.com). The combination of SonicDeejay with the Candlevolume indicator only creates a new visual display. All rules will remain. This free trading system can be downloaded at Forex Factory. A special thanks to SonicDeejay for the free trading system and Trader@Home for technical support.
- M15 Trading System by SonicDeejay Manuel
- Sonic R 12-01-2011 (indicators) -> Candlevolumen Indi Sonic R Classic Template -> here <-
- Sonic R 05-15-2011 (indicators) -> Candlevolumen Indi Sonic R VSA -> here <-
3. Trading System by Yamster.
This system was developed and designed by Yamster (Forexfactory.com). Again, his system in combination with the Candlevolume indicator only creates a new visual display. All rules will remain. This free trading system can be downloaded at Forex Factory.
- Trading System by Yamster
- -> Candlevolumen Indi Sonic R VSA -> here <-
Here is a first preview and trial version of the candlevolume indicator. This is a beta version, maybe some bugs are still in the software/coding.
A manual is coming soon and a lot more features ... stay tuned !
Download the latest version of Candlevolume Indicator.
Updates and functions
candlevolumen 0.8 beta:
→ volume type: NVO und Sonic R Volume included
→ candle design: TL (1) und Buffer (2)
→ price type: candlesticks (1)
→ show_only_visible_candle function
candlevolumen 0.9 beta:
→ ++ candle design: Mix (3)
→ ++ price type: Haiken Ashi (2)
→ ++ indicator on/off function (added by TraderAtHome from forexfactory.com)
→ ++ optimization of delete function for candle design (added by TraderAtHome from forexfactory.com)
candlevolumen 0.91 beta:
→ ++ changings in external inputs buffers
candlevolumen 0.92 beta:
→ ++ volume type: HighLowVolume (3)
→ ++ comment for candlevolume setup
candlevolumen 0.93 beta:
→ ++ volume type: Sonic r VSA (4)
→ ++ Msg for candlevolume setup
→ ++ fix bug in color changing
Enjoy it and Have fun
Yours enigma4x
u are great TAH u know I´m a big fan from you.
