Better volume indicator code
Better volume indicator for TradeStation, MultiCharts & OpenECry
The Better Volume indicator uses a combination of bid/ask volume and range to identify Volume Climax, High Volume Churn and Low Volume bars. Market tops are characterized by Volume Climax Up bars, High Volume Churn and Low Volume Up bars (also called Testing). Market bottoms are characterized by Volume Climax Down bars, High Volume Churn and Low Volume Down bars (Testing). Pullbacks, in either up or down trends, are similar to market topping or bottoming patterns, but shorter in duration and with simpler volume patterns. The Better Volume indicator works in all markets and for all time frames - but is particularly useful for tick charts.
This indicator code is compatitble with the following trading platforms
TradeStation, MultiCharts, OpenECry
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Code for Better volume indicator
Better volume indicator on a chart