Expected Volume Indicator
Expected Volume and Actual Volume (volume indicator)
Finer points of Nadex 20 minute binary Stra
Updates To The Expected Volume Indicator A New video will be made on the next Thursday webinar on July 10th In the meantime the below notes should catch you up on all the new improvements to expected volume.
UPDATED EXPECTED VOLUME INDICATOR
- Template Updates A) Pre-Built Chart templates updated to include the new Expected Volume indicator
B) Chart templates have been updated to automatically use crosshairs.
C) It is recommended that you reload pre-built templates to ensure you have the newest code on each chart.
D) If you have custom templates then remove the expected volume indicator - hit apply - then add it back on and hit apply. Now save your template. Apply the template to any other charts. Then save your workspace.
- New Help Link A Help link has been added to the indicator settings, that will take users directly to the Expected Volume topic in the forum to review or ask for help.
- Intuitive Settings Settings have been renamed and restructured to be more intuitive and easy to understand. Going forward, the user experience will flow from one indicator to the next. This means less time searching for the specific settings related to that indicator. The help text has also been updated to aid with this.
Error messages are now more user friendly and easy to understand if a mistake was made and how it can quickly be corrected.
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Expected Volume Export Feature Added You now have the ability to export volume expectations for any period they choose, incase yiou would like to perform any detailed analysis. Add the indicator with more than one time setting (see #6 below) if you want to export ie 60 minute expected volume.
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Bar Type Is Automatically Detected
Expected volume will now auto detect the period type loaded, (minute or diagnostic bars), so you have to specify which type of chart to load and don’t have to adjust the setting specific to that chart type.
- Minute Auto Detection
If the period type is minutes the period type value (ie 10 minutes) is auto-detected and defaults the period length to this value. This will prevent you from having to manually adjusting the time parameter within the indicator everytime you change the minute size of the chart bars. If you load a 10 minute chart, for example, that will be auto-detected and that’s the period that will be selected for the indicator. You may still override this if you want to do load a larger minute type (ie 60 minute expected volume) on a smaller minute type bar (ie 10 minutes bar chart). Though its recommended that you do not save the override as a indicator default so future charts that you manually add the indicator to will use the default setting of automatic detection.
To Override the method simply change Setting 02:B 01 - Period Length to Manual Override and change the minutes to what you want them to be:
- Diagnostic Bar Expected Volume Rolling Calculation
Instead of resetting the actual volume to zero and expected volume every x (ie 4 minutes) the expected volume indicator will now roll the volume from the past expected x minutes and and past x minutes actual volume.
This new rolling calculation method will allow for you to see what happened right before a diagnostic bar is formed.
This means fewer missed scalps, easier back testing, and better diagnostic analysis.
- Updated Alerts Alerts have been modified/added for diagnostic bars so you have a potential and a confirmed alert. A new potential alert will trigger if at any time during the creation of a bar, volume exceeds the threshold (as a potential get ready warning for you), while the confirmed alert will only trigger if volume was exceeded when the bar closed.
Note the expected volume is being recalculated on a rolling basis so it is possible for the volume to exceed expectations before the diagnostic bar closes and then the the expectations volume could rise if the bar takes more time and the volume may not rise enough to exceed expectations as of the end of the bar.
- Historical Accuracy Through Intrabar Calculation
We have upgraded the bars to pull intrabar historically. This is beyond the normal scope of NnjaTrader that uses End of Bar. This allows us to pull the data accurately to ensure that both live and historical data match. This also adds load time if using a tick based bar like Diagnostic bars. In order to help with this issue we have made the indicator default to live on indicator and template settings. This has increased chart load time as well.
- Increased Speed (Decreased Chart Load Time)
New optimization setting added, ‘Show all history’. The default, ‘False’, setting will decrease load times of each chart by at least 15 seconds, but only displays live data. If a user opens a workspace with 8 charts on it, that should speed up the load time by 2 minutes or more.
Setting this to ‘True’ will show all historical information, but due to the limitations with in Ninja trader, it will take much longer to load.
It is not recommended to save your workspaces used for live trading with this set to true.
Error messages are now more user friendly and easy to understand if a mistake was made and how it can quickly be corrected.
Default Setting Not Showing History:
Changing Show Historical Data: It is not recommended to save a template or workspace with this setting set to true as this will cause charts to load much slower and is really only needed for back testing purposes.
New Settings Overview:
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It’s been a while since I’ve looked at apex. I noticed the the expected volume is now version 8 and 9. And the apex elite pattern is version 2. Which of of the volume 8 or 9 would I choose now for momentum scalps? Or is there a template now optimized for momentum scalps? And is the apex elite pattern only version 2 now?