Introduction to the Volume Analyst

The Volume Analyst is a tool designed to automate the process of analyzing volume and range data. This tool includes seven different calculation modes, or inputs, that can be used to analyze data in unique ways.

Loading the indicator

Load the Volume Analyst by right-clicking a chart, selecting ‘Indicators…’, and double-clicking ‘TTP_VolumeAnalyst’ from the indicator list in the indicator dialog (located in the ‘TradeThePlan’ folder in NinjaTrader 8). Then click OK.

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Selecting the calculation mode

Set the calculation mode from the ‘Calculation Mode’ property. The mode you select will determine the form of analysis that will be calculated. It is important to understand the intent and value of each mode to obtain the desired results. The ‘Calculation Modes and Signals’ section of this guide provides more information on the specifics of each calculation mode.

Selecting the bar type

Set the bar type from the ‘Bar type’ property. Some parameter defaults are linked to the bar type of the chart on which the Volume Analyst is running. Changing this property will allow you to see these changes without changing that chart’s bar type and reloading the indicator; however, this property does not need to be manually adjusted, as this is done automatically based on the chart’s bar type when ‘OK’ is selected to load the indicator to the chart.

Calculation Modes and Signals

Volume & Relative Volume

Set the ‘Calculation Mode’ property in 1. Options and Parameters to ‘Volume’ or ‘Relative Volume’ to run these calculation modes. These modes look for climax, churn, density, spikes, and divergence volume conditions.

Volume

This calculation mode uses raw volume as the input for signal generation, making load times and calculations faster than the Relative Volume counterpart, while also requiring fewer days to be loaded onto the chart. For these reasons, Volume is especially useful on fast timeframes where performance is a concern due to more frequent updates, or when a true/raw read of volume is desired.

Relative Volume

This calculation mode uses a unique historical comparison method to relativize the volume. This effectively eliminates the “seasonal” nature of intra-day volume, where there are typically varying periods of market participation. This provides clear and accurate volume signals any time of the trading session by comparing current volume to the volume of historical sessions at the same time of the day.

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Climax & Extreme Climax

  • Indicates climactic volume/acceleration into a turning point or initiation of a new move.
  • Often indicative of exhaustion if the proceeding bar is a churn bar.
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Churn & Extreme Churn

  • Indicates a “fight” between buyers and sellers – extensive transactions taking place on both sides of the market.
  • Often occurs when testing/breaking previous highs and lows and provides a very powerful signal when proceeding a climax bar.

**Note: When using Relative Volume on FOREX charts with a live brokerage data feed, the Relative Volume bars may begin to gradually decrease bar after bar in real-time. Users have seen this behavior only with Oanda live FOREX data. The following is a response from NinjaTrader support on the matter:

IQFeed and Kinetick both use FXCM for real-time and historical forex data. Both providers also provide historical data natively from their servers. We would expect the real-time and historical data to match when using these two providers. However, when connected to a brokerage account like FXCM or Oanda, the historical data is provided by NinjaTrader’s server. NinjaTrader’s historical data server records data from FXCM to provide as historical. When connected to Oanda, the live data is coming from the Oanda

account, but the historical data is from FXCM. Therefore, there is a noticeable discrepancy in “volume” data (volume data in FOREX is total transactions, or ticks) between live and historical data when you are connected to Oanda. The bid/ask price data should be similar, but there may be more pronounced differences in the way volume data is displayed. It is also worth noting that volume data is arbitrary for spot forex because there is no centralized exchange. In most cases, spot forex providers would provide only bid/ask quotes. Most spot forex providers do not report last-trade data because they are taking the other side of each trade, rather than matching buyers & sellers in an exchange setting. The volume that you see within NinjaTrader typically represents the number of individual price quotes that a forex liquidity provider is reporting. This does not represent the actual number of currency units that are changing hands because trade executions are not being reported on a centralized exchange.

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High Density & Extreme Density

  • Indicates a “fight” between buyers and sellers – extensive transactions taking place on both sides of the market.
  • Often occurs when testing/breaking previous highs and lows and provides a very powerful signal when proceeding a climax bar.
  • Prerequisite for churn signal (plotted as a secondary bar behind the climax/churn plot) – indicates the extent/severity of volume per range for climax and churn bars.
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Low Volume & Low Density

  • Indicates low market participation/activity.
  • Can occur at the end of a move (where interest in continuation is lost) or acts as the “calm before the storm,” as the market breathes before momentum returns.
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Volume Spikes

  • Volume Spike (Extreme, Major, Minor) – indicates climactic price action in accordance with volume. Characteristic of V-top/bottom reversals in price.
  • Spike at high: upward momentum/price movement met by supply/selling.
  • Spike at low: downward momentum/price movement met by demand/buying.
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Density & Relative Density

Set the ‘Calculation Mode’ property in 1. Options and Parameters to ‘Density’ or ‘Relative Density’ to run these calculation modes. These calculation modes quantify the “fight” between buyers and sellers as extreme, high, and low-volume per range conditions.

Density

This calculation mode uses raw density as the input for signal generation, making load times and calculations faster than the Relative Density counterpart, while also requiring fewer days to be loaded onto the chart. For these reasons, Density is especially useful on fast timeframes where performance is a concern due to more frequent updates, or when a true/raw read of density is desired.

Relative Density

This calculation mode uses a unique historical comparison method to relativize the density. This effectively eliminates the “seasonal” nature of intra-day density, where there are typically varying periods of market participation. This provides clear and accurate density signals any time of the trading session by comparing current density to the density of historical sessions at the same time of the day.

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High Density & Extreme Density

  • Indicates a “fight” between buyers and sellers – extensive transactions taking place on both sides of the market.
  • Often occurs when testing/breaking previous highs and lows.
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Low Density

  • Indicates low market participation/activity.
  • Can occur at the end of a move (where interest in continuation is lost) or acts as the “calm before the storm,” as the market breathes before momentum returns.
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Range & Relative Range

Set the ‘Calculation Mode’ property in 1. Options and Parameters to ‘Range’ or ‘Relative Range’ to run these calculation modes. These modes look for wide range, narrow range, outside bar, and inside bar conditions.

Range

This calculation mode uses raw range as the input for signal generation, making load times and calculations faster than the Relative Range counterpart, while also requiring fewer days to be loaded onto the chart. For these reasons, Range is especially useful on fast timeframes where performance is a concern due to more frequent updates, or when a true/raw read of range is desired.

Relative Range

This calculation mode uses a unique historical comparison method to relativize the range. This effectively eliminates the “seasonal” nature of intra-day range, where there are typically varying periods of market participation. This provides clear and accurate range signals any time of the trading session by comparing current range to the range of historical sessions at the same time of the day.

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Narrow Range & Extremely Narrow Range

  • A narrow range bar has the narrowest range of the past N bars.
  • Narrow range conditions indicate a volatility contraction, which often precedes a volatility expansion.
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Narrow Range Inside Bar & Extremely Narrow Range Inside Bar

  • An inside bar is not only the narrowest range of the past N bars but also does not exceed the range of the previous bar.
  • Narrow range conditions indicate a volatility contraction, which often precedes a volatility expansion.
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Wide Range & Extremely Wide Range

  • A wide range bar has the widest range of the past N bars.
  • Wide range conditions indicate a volatility expansion. This can be useful for identifying trend strength, but also often occurs at the end of a move as a climactic/v-bottom turn.
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Wide Range Outside Bar & Extremely Wide Range Outside Bar

  • An outside bar is not only the widest range of the past N bars, but its open and/or close exceeds that of the previous bar.
  • Outside bars indicate a volatility expansion. This can be useful for identifying trend strength, but also often occurs at the end of a move as a climactic/v-bottom turn.
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VolumePerSecond

Set the ‘Calculation Mode’ property in 1. Options and Parameters to ‘VolumePerSecond’ to run this calculation mode. This mode looks for where and when major market participants are entering and exiting the market by looking at the speed at which contracts are being transacted. VPS is intended for tick charts.

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Extreme VPS/High VPS

  • Indicates a “flood” of market participation – characteristic of major market players entering and exiting large positions, and/or a stop run involving an unusually high number of smaller players at a single key level.
  • Often occurs near major market turning points as deep pockets step in to halt price.
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Low VPS

  • Indicates low participation and/or slower moving price-action.
  • Occasionally, seen at the end of a move (where interest in continuation is lost, usually at rounded swing highs or lows – several overlapping bars into the final high or low)
  • Often seen at the ends of smaller retracement swing highs or lows and near the start of a new move after a reversal or acts as the “calm before the storm,” as the market breathes before momentum returns.
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Properties

  1. Options and Parameters

Calculation mode

Applicable Modes: All

Description: Sets the displayed calculation mode – Volume, RelativeVolume, Density, RelativeDensity, Range, RelativeRange, VolumePerSecond.

Bar type

Applicable Modes: All

Description: Sets bar type specific preset-properties’ values according to the used bar type. When left unchanged, this property will auto-adjust to match the used bar type.

Calculate after N %

Applicable Modes: All

Description: Sets the percentage-complete value of the bar which must pass (in real-time) before any signal calculations will be run and displayed. Increasing this value can improve real-time speed/performance and reduce the number of premature signals that may be canceled before bar-close, especially when using relative calculation modes on non-time-based charts.

Calculate after N seconds (NinjaTrader 8)

Applicable Modes: All

Description: Sets the minimum number of seconds that must be passed for each new real-time bar before signals can calculate and display. Increasing this value can improve real-time speed/performance and reduce the number of premature signals that may be canceled before bar-close, especially when using relative calculation modes on non-time-based charts.

Show indicator plots

Applicable Modes: All

Description: Set to True to hide the indicator panel plots. Note: Set the ‘Panel’ property (under ‘Visual’ heading, above) to ‘Same as input series’ to hide the plot entirely. If it does not display correctly after disabling, remove the Volume Analyst and add it back to the chart again.

Auto-hide bar spacing threshold

Applicable Modes: All

Description: (Set = 0 to disable) Sets the bar spacing value at or below which the paintbars and drawing objects will be automatically hidden.

Paint candle body

Applicable Modes: All

Description: Control the candle body painting. For Volume and Relative Volume modes, Volume or Density can be specified.

Paint candle outline

Applicable Modes: All

Description: Control the candle outline painting. For Volume and Relative Volume modes, Volume or Density can be specified.

Outline color of non-signal bars

Applicable Modes: All

Description: ‘DefaultColor’ paints the outline of non-signal bars the default ‘Candle outline color’ set in the chart’s ‘Data Series…’ window. ‘UpDownColor’ paints the outline of non-signal bars using colors defined below. ‘None’ allows for other indicators to paint the outline color of non-signal bars (‘Paint outline color’ must also be set to None).

Color opacity of up bars

Applicable Modes: All

Description: Sets the transparency % value (10 – 100) for up bars.

Color opacity of down bars

Applicable Modes: All

Description: Sets the transparency % value (10 – 100) for down bars.

Change opacity of non-signal bars

Applicable Modes: All

Description: Set to true to also change non-signal bars’ candle body opacity.

Colors of paintbar signals

Applicable Modes: All

Description: Expandable property containing the color properties for the signals that correspond with the currently selected calculation mode.

Text alerts – <signal type>

Applicable Modes: All (Note: Text alert properties shown will depend on the selected calculation mode)

Description: Expandable property containing text alert controls for the corresponding signal type.

<Calculation Mode> Parameters

Generic parameters

Moving average type

Applicable Modes: All

Description: Moving average type used for determining signal output.

Moving average lookback

Applicable Modes: All

Description: Sets the period of the moving average used for determining signal output.

Input trim SD multiple

Applicable Modes: All

Description: The standard deviation multiple of the moving average SD band used to put a ceiling on the allowable input values used in the moving average. -1 disables the trim.

Relative calculation parameters

The relative calculation is used in the RelativeVolume, RelativeDensity, and RelativeRange calculation modes. The relative calculation is powerful in that it removes market seasonality and variance between sessions by comparing the raw value of a bar (time-period) against an average of the values for the same time-period from previous sessions to calculate the displayed value.

Terms

Native series – The chart’s base series (i.e., a 5-minute chart’s base series is an array of 5-minute bars).

Current session – The currently active/developing session of the native series.

Current value – The raw value of the current bar for the current session.

Historical series – An internal bar array from which historical sessions are derived for calculating a comparison value (this makes the relative calculation multi-timeframe when the historical series is set to something other than the native series).

Historical session – Any session from the historical series that has a start and end date/time that is earlier than the current session’s start and end date/time.

Comparison value – The value calculated from the historical sessions against which the current value is compared to arrive at the final relativized value.

Historical sample – the raw value that is obtained from the historical series at the same time-of-day as the current value was obtained from the native series.

Historical policy

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: ‘AllDays’ does not differentiate the day of the week when selecting historical sessions to compare the current time-period of the current session to the same time-period of historical sessions.

‘DayOfWeek’ ensures that only historical sessions that are on the same day of week as the current session are selected when comparing the current time-period of the current session to the same time-period of historical sessions.

Required sessions count

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: Sets the number of historical sessions that must be included in the relative calculation for comparing the current time-period of the current session to the same time-period of historical sessions.

Historical sample multiplier

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: Sets the multiplier (integer) of the current period value used to calculate the ‘relative’ value input. A value greater than 1 creates a smoothing effect, which reduces the extremity of high-value and low-value outliers (i.e., the larger the multiplier value, the greater the smoothing effect).

Example:

If the relative calculation is running on a 5-minute chart and ‘Historical sample multiplier’ is set to 2, 10-minute (5-minute * 2) sections of data would be sampled from the historical series of past sessions, and then divided by 2 (10 minute sample size / 5 minute chart period) to achieve a 5-minute average from the 10-minute sample.

If the Volume Analyst is using the relative volume calculation mode and running on a 5-minute chart with the Historical Sample Multiplier (02G) set to 2, the time-period being calculated is 10 minutes (5 minutes * 2 multiplier) – meaning that a 10-minute time-period is sampled from the historical sessions and compared against the current 10-minute time-period of the current session. The resulting value is then divided by 2 to obtain the value for the current 5-minute bar averaged over the last 10-minute period. This averaging is what creates the smoothing effect.

Historical series

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: Sets whether the base series (‘Native’) or a minute series (‘Minute’) is used for the relative calculation. For example, when set to ‘Native’ while running the VolumeAnalyst on a 1000-tick chart, the relative calculation would use the exact start and end time for each 1000-tick bar as the historical series for historical sampling, creating a comparison value from that sample to compare against the current bar’s volume. When set to ‘Minute’, a custom minute series (value set in the ‘Minute series period’ property) is used for the relative calculation historical sampling.

Minute series period

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: An integer parameter used to specify the minute series period when the ‘Historical policy’ property is set to ‘Minute’ or when ‘Set current value as % of historical series’ is enabled.

Set current value as % of historical series

Applicable Modes: Relative Volume, Relative Density, Relative Range (Note: Relative Volume has two of these properties since both relative volume, and relative density are calculated in this mode)

Description: If enabled, the value of the current bar is obtained from the historical series rather than from the base series. This creates a smoothing effect when the historical series period is larger than the base series period. If disabled, the value of the current bar is obtained from the chart’s base series.

Note: If enabled and ‘Historical series’ is set to ‘Native,’ the current value will still be derived from an HTF minute series with a period controlled by ‘Minute series period.’

Example:

If the Volume Analyst is using the Relative Density calculation mode and running on a 15-minute chart, ‘Minute series period’ set to 30, and the ‘Set current value as % of historical series’ enabled, the relative value of the current 30-minute bar of the current session of the historical series is first calculated. The 30-minute bar value is then divided by 2 (30-minute historical series period / 15-minute base series period) to obtain the value for the current 15-minute bar, averaged from the 30-minute bar of the historical series. This averaging is what creates the smoothing effect.

Note: there are two of these properties for the Relative Volume calculation mode because both relative volume and relative density are calculated for Relative Volume. These properties are prefixed with ‘Volume:‘ and ‘Density:‘ respectively.

Base chart period: 5 minutes

Historical series: Minute

Minute series period: 30

Set current value as % of historical series: disabled

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Base chart period: 5-minute

Historical series: Minute

Minute series period: 30

Set current value as % of historical series: enabled

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Note the relative volume output difference between these two images, where ‘Set current value as % of historical series’ is disabled in the first one and enabled in the second one. The ‘smoothing’ effect in the second images can be seen by the lessened outlier/extreme relative volume values.

Use raw range

Applicable Modes: Relative Volume, Relative Density

Description: If enabled, relative density is calculated from relativized raw volume divided by raw range.

If disabled, relative density is calculated from relativized raw density, where raw density is calculated from raw volume divided by raw range.

Time blocks to exclude

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: Path to file that defines the time blocks that should be excluded from the relative calculation. Each line in the text file represents a time block. Enter only a date in the format <YYYY-MM-DD> to block an entire session. For a specific time block within the session, follow the date with <HH:MM:SS>-<HH:MM:SS> in UTC time. Example: 2018-03-08 13:00:00-14:30:00.

Percentage thresholds

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: Fixed percentage thresholds for controlling signal validation.

Volume/Relative Volume parameters

Paintbar signals calculated

Applicable Modes: Volume, Relative Volume

Description: Sets which volume paintbar signals (if any) are to be calculated.

Density signals calculated

Applicable Modes: Volume, Relative Volume

Description: Sets which density signals are to be calculated and displayed behind the volume plot.

Density signals requirement

Applicable Modes: Volume, Relative Volume

Description: Sets which volume signals are required on the same bar to plot the density signals.

Volume spikes calculated

Applicable Modes: Volume, Relative Volume

Description: Sets which volume spikes signals are to be calculated. Volume spikes are required for volume divergence signals to be found.

Volume divergence calculated

Applicable Modes: Volume, Relative Volume

Description: If enabled, volume divergence calculations are run. Volume spikes must also be enabled for volume divergence signals to be found.

Low volume method

Applicable Modes: Volume, Relative Volume

Description: Sets the method used to qualify low-volume signals. ‘VolumeAndDensity’ requires both low-volume and low-density to signal a low-volume bar.

Show low volume bars

Applicable Modes: Volume, Relative Volume

Description: Set to true to show low-volume paintbars on the price panel (independent of indicator panel).

Show low density bars

Applicable Modes: Volume, Relative Volume

Description: Set to true to show low-density paintbars on the price panel (independent of indicator panel).

Extreme Climax Parameters

Applicable Modes: Volume, Relative Volume

Description: Extreme climax signal control parameters.

Climax Parameters

Applicable Modes: Volume, Relative Volume

Description: Climax signal control parameters.

Extreme Churn Parameters

Applicable Modes: Volume, Relative Volume

Description: Extreme churn signal control parameters.

Churn Parameters

Applicable Modes: Volume, Relative Volume

Description: Churn signal control parameters.

Spikes – price extreme lookback

Applicable Modes: Volume, Relative Volume

Description: (Set to 0 to disable). Sets the minimum number of bars back that the price-bar

High of ‘spike-at-high’ must be equal to or above, the price-bar Low of ‘spike-at-low’ must be equal to or below (sets the highest high or lowest low of N bars back for spikes).

Extreme spike – N-bar high lookback

Applicable Modes: Volume, Relative Volume

Description: (Set to 0 to disable). Sets the minimum number of previous volume bars extreme spike signals must be above.

Spike objects offset

Applicable Modes: Volume, Relative Volume

Description: Sets the pixel distance between bar and drawing object.

Extreme spike objects

Applicable Modes: Volume, Relative Volume

Description: Edit the draw object for extreme spikes.

Extreme spike resistance lines

Applicable Modes: Volume, Relative Volume

Description: Edit the upper range resistance line for extreme spikes.

Extreme spike support lines

Applicable Modes: Volume, Relative Volume

Description: Edit the lower range support line for extreme spikes.

Major spike objects

Applicable Modes: Volume, Relative Volume

Description: Edit the draw object for major spikes.

Minor spike objects

Applicable Modes: Volume, Relative Volume

Description: Edit the draw object for minor spikes.

Density/Relative Density parameters

Paintbar signals calculated

Applicable Modes: Density, Relative Density

Description: Sets which volume paintbar signals (if any) are to be calculated.

Show low-density bars

Applicable Modes: Density, Relative Density

Description: Set to true to show low-density paintbars on the price panel (independent of indicator panel).

Range/Relative Range parameters

Wide range bars calculated

Applicable Modes: Range, Relative Range

Description: Select wide-range-bars to show.

Narrow range bars calculated

Applicable Modes: Range, Relative Range

Description: Select narrow-range-bars to show.

Show outside bars

Applicable Modes: Range, Relative Range

Description: Show wide-range-outside bars.

Allow outside bars with same high or low as previous

Applicable Modes: Range, Relative Range

Description: Allow equal high or low on one side for OB.

Show inside bars

Applicable Modes: Range, Relative Range

Description: Show narrow-range-inside-bars.

Allow equal range with previous

Applicable Modes: Range, Relative Range

Description: When true, if current bar has the same range as previous and previous is a ‘narrow range’ bar, set current bar as narrow range or inside bar. If current bar has the same range as previous and same high and low as previous, set as an ‘inside’ bar.

Show labels

Applicable Modes: Range, Relative Range

Description: Select the text to be shown in the label. Note: use ‘Name’ or ‘None’ for best indicator performance.

Label text size

Applicable Modes: Range, Relative Range

Description: Set the font size of the label text.

Label offset (in pixels)

Applicable Modes: Range, Relative Range

Description: Set the number of pixels of separation between the price bar and the label text.

Extremely wide – N-bar high lookback

Applicable Modes: Range, Relative Range

Description: Minimum lookback for extremely-wide-range-bars.

Extremely wide- min std dev value

Applicable Modes: Range, Relative Range

Description: Minimum Standard Deviation required for extremely-wide-range-bars.

Wide – N-bar high lookback

Applicable Modes: Range, Relative Range

Description: Minimum lookback for wide-range-bars.

Extremely narrow – N-bar high lookback

Applicable Modes: Range, Relative Range

Description: Minimum lookback for extremely-narrow-range-bars.

Narrow – N-bar high lookback

Applicable Modes: Range, Relative Range

Description: Minimum lookback for narrow-range-bars.

VolumePerSecond parameters

Paintbar signals calculated

Applicable Modes: VolumePerSecond

Description: Sets which volume paintbar signals (if any) are to be calculated.

Show low VPS bars

Applicable Modes: VolumePerSecond

Description: Option for plotting low-volume bars in the price panel (independent of indicator panel).

Indicator Panel Plots and Lines

Show moving average

Applicable Modes: All

Description: Enable to plot the moving average.

Show std dev bands

Applicable Modes: All

Description: Enable to plot the upper SD bands for the moving average.

Show cumulated ratio plot

Applicable Modes: Relative Volume

Description: Enable to plot the value of the cumulated relative volume calculated for the current trading day.

Show cumulated ratio %

Applicable Modes: Relative Volume

Description: Enable to plot the value of the cumulated relative volume calculated for the current trading day.

Show value text on large bars

Applicable Modes: All

Description: Enable to plot the value of signal bars that exceed the 3rd standard deviation band.

Show zeroline

Applicable Modes: All

Description: Enable to plot the zeroline.

<type> bar auto width

Applicable Modes: All

Description: If enabled, sets the plot width based on the width of the price bars rather than based on a fixed width.

<type> bar auto width multiple

Applicable Modes: All

Description: The multiplier that sets the plot width in multiplies of the price bar width.

<type> bar fixed width

Applicable Modes: All

Description: If bar auto width is disabled, sets the plot width based on this fixed value.

Moving average width

Applicable Modes: All

Description: Sets the width of the moving average plot in the indicator panel.

SD bands width

Applicable Modes: All

Description: Sets the width of the standard deviation band plots.

Cumulated ratio plot width

Applicable Modes: Relative Volume

Description: Sets the width of the cumulated ratio plot.

100% line width

Applicable Modes: All

Description: Sets the width of the 100% line width.

Ratio font size

Applicable Modes: Relative Volume

Description: Sets the size of the ratio font size.

Value text size

Applicable Modes: All

Description: Sets the size of the value text font size.

Moving average dash style

Applicable Modes: All

Description: Sets the dash style of the moving average plot.

SD bands dash style

Applicable Modes: All

Description: Sets the dash style of the SD band plots.

Cumulated ratio plot dash style

Applicable Modes: Relative Volume

Description: Sets the dash style of the cumulated ratio plot.

Moving average color

Applicable Modes: All

Description: Sets the color of the moving average plot.

SD1 band color

Applicable Modes: All

Description: Sets the color of the std dev 1 band plot.

SD2 band color

Applicable Modes: All

Description: Sets the color of the std dev 2 band plot.

SD3 band color

Applicable Modes: All

Description: Sets the color of the std dev 3 band plot.

Above average volume color

Applicable Modes: Relative Volume

Description: Sets the color of the cumulative volume plot when above the average.

Below average volume color

Applicable Modes: Relative Volume

Description: Sets the color of the cumulative volume plot when below the average.

100% line color

Applicable Modes: Relative Volume, Relative Density, Relative Range

Description: Sets the color of the 100% line plot.

Zeroline color

Applicable Modes: All

Description: Sets the color of the zeroline plot.

Value text color

Applicable Modes: All

Description: Sets the color of the value text font.

Signal Alerts and Screenshots

Email address

Applicable Modes: All

Description: Email alerts (including screenshots, if enabled) are sent to addresses entered in this field. Add more than one email using a semi-colon (;) after each address. The TTP email alerts system uses private servers, not NinjaTrader servers. Just add your email and turn on email alerts to begin receiving alerts directly to your inbox.

Alert settings

Applicable Modes: All

Description: Expandable property contains the global alert settings.

Rearm mode

Applicable Modes: All

Description: Instant – alerts are instantly rearmed and ready for reactivation after each activation. BarDelay – alerts wait to be rearmed until the number of bars specified by ‘Rearm delay’ has passed. TimeDelay – alert waits to be rearmed until the number of seconds specified by ‘Rearm delay’ has passed.

Rearm delay

Applicable Modes: All

Description: Determines the number of bars or seconds for the ‘Rearm mode’ delay of BarDelay and TimeDelay respectively.

Change workspace

Applicable Modes: All

Description: If enabled, a window prompt will appear if an alert triggers on a non-active workspace with an option to bring that workspace into focus.

Flash enabled

Applicable Modes: All

Description: If enabled, the background of the chart on which an alert is triggered will flash colors for a set number of color change iterations.

Flash iterations

Applicable Modes: All

Description: Determines the number of chart background color change iterations when an alert is triggered with ‘Flash enabled’ enabled.

Flash color

Applicable Modes: All

Description: Sets the chart background flash color used when an alert is triggered with ‘Flash enabled’ enabled.

Screenshot parameters

Applicable Modes: All

Description: Contains the global alert screenshot settings.

Enabled

Applicable Modes: All

Description: If enabled, a screenshot of the chart containing the activated alert is saved.

Save to folder

Applicable Modes: All

Description: Specifies the screenshot save folder path.

Each calculation mode has a unique set of alert properties based on the signal types calculated, but they all follow one of the two following formats:

<regular alert>

Enabled

Description: If enabled, the corresponding signal alert is enabled.

Sound

Description: Specifies the path to the .wav sound file that is sounded when the corresponding signal alert is triggered.

<directional alert>

Enabled (at-high)

Description: If enabled, the corresponding high/bearish signal alert is enabled.

Sound (at-high)

Description: Specifies the path to the .wav sound file that is sounded when the corresponding signal alert is triggered.

Enabled (at-low)

Description: If enabled, the corresponding low/bullish signal alert is enabled.

Sound (at-low)

Description: Specifies the path to the .wav sound file that is sounded when the corresponding signal alert is triggered.

Volume Divergence Setups (Volume, Relative Volume)

Spikes used

Applicable Modes: Volume, Relative Volume

Description: Controls which spikes are allowed to initiate the calculation of a volume divergence condition.

Maximum lookback

Applicable Modes: Volume, Relative Volume

Description: Maximum number of bars allowed after a volume spike for a volume divergence signal to occur.

Minimum lookback

Applicable Modes: Volume, Relative Volume

Description: Minimum number of bars required after a volume spike before a volume divergence signal is allowed.

Average range lookback

Applicable Modes: Volume, Relative Volume

Description: The average range lookback period used in the AverageRange trigger method and to determine the pullback required before a volume divergence signal can occur.

Deviation method

Applicable Modes: Volume, Relative Volume

Description: Method used to measure distances between swings for determining volume divergence.

Maximum price deviation

Applicable Modes: Volume, Relative Volume

Description: Units (AR or ticks) set via ‘Method of measuring price distances’ property above. Defines the AR multiple distance that is allowed for a setup bar to exceed the first swing bar’s H/L. Set to -1 to allow an infinite overthrow.

Show max price marker

Applicable Modes: Volume, Relative Volume

Description: Plot a dash on the bar/price at which the setup bar was canceled due to exceeding the allowed AR multiple overthrow.

Max price marker color

Applicable Modes: Volume, Relative Volume

Description: Color of AR max price overthrow marker.

Max price marker size

Applicable Modes: Volume, Relative Volume

Description: Size of AR max price overthrow marker.

Allow double tops/bottoms

Applicable Modes: Volume, Relative Volume

Description: Allow double top/bottom with volume spike for volume divergence signal.

Minimum volume % deviation

Applicable Modes: Volume, Relative Volume

Description: The minimum % volume that the setup bar must deviate from the first swing bar’s volume.

Allow N-bar break of spike

Applicable Modes: Volume, Relative Volume

Description: Defines the number of bars forward after the first swing bar that are allowed to break the first swing bar’s H/L. 0 = do not allow a break. NOTE: must be less than ‘Min bars back.’

Maximum break deviation

Applicable Modes: Volume, Relative Volume

Description: Units (AR or ticks) set via ‘Method of measuring price distances’ property above. Defines the AR multiple or tick distance that is allowed for a bar to break beyond the first swing’s H/L. A price bar that meets or exceeds this AR multiple distance will void the divergence setup. Set to -1 to allow an infinite break.

Update start-bar to break

Applicable Modes: Volume, Relative Volume

Description: If enabled, if an allowable bar exceeds the price of the first swing bar, the price of this bar will override the price used for the first swing bar. If the volume of this bar is also greater, it’s volume value will override the volume used for the first swing bar.

Minimum pullback deviation

Applicable Modes: Volume, Relative Volume

Description: Units (AR or ticks) set via ‘Method of measuring price distances’ property above. This value sets the minimum distance price must move down from the high of the spike bar (or the updated high of a breaking bar) before the setup is allowed — Vice-Versa for a spike at a low. This property sets the requisite ‘sign of weakness’ (price moving down) after a volume spike-at-high and the ‘sign of strength’ (price moving up) after a volume spike-at-low necessary between the start-bar and end-bar of all the volume divergence setups.

Show min pullback marker

Applicable Modes: Volume, Relative Volume

Description: Plot a dash on the bar/price at which the AR pullback occurred to allow for divergence to be found.

Min pullback marker color

Applicable Modes: Volume, Relative Volume

Description: Color of AR pullback marker.

Min pullback marker size

Applicable Modes: Volume, Relative Volume

Description: Size of AR pullback marker.

Show lines on panels

Applicable Modes: Volume, Relative Volume

Description: Show/hide lines on the price panel, indicator panel, both, or neither.

Advanced signal builder

Applicable Modes: Volume, Relative Volume

Description: Select the volume signals required for a setup bar.

Bars before

Description: Set the number of bars before the setup bar that should be searched for the volume signal requirement.

Bars after

Description: Set the number of bars after the setup bar that should be searched for the volume signal requirement.

Logic

Description: Set if AND or OR logic should be used to combine set 1 and set 2.

Set 1

Description: Select required signal conditions. Signal names with a ‘_Directional’ postfix require that the bar close in the direction of the divergence signal.

Number of conditions

Description: Set the number of conditions to be used (max of 10).

Logic

Description: Set if AND or OR logic should be used for the condition set.

Condition <#>

Description: Enable to require this signal.

Set 2

<Same as Set 1 above>

Setup shapes

Applicable Modes: Volume, Relative Volume

Description: Edit the setup marker for volume divergence signals.

Show markers

Description: Show/hide setup marker.

Keep unconfirmed markers

Description: Keep setup marker even if the divergence trigger never occurs.

Bullish marker wingding

Description: Long setup marker wingding character.

Bearish marker wingding

Description: Short setup marker wingding character.

Marker size

Description: Setup marker size.

Bullish color

Description: Long setup marker color.

Bearish color

Description: Short setup marker color.

Color opacity

Description: Setup marker opacity.

Offset pixels

Description: Setup marker distance from price in pixels.

Setup lines

Applicable Modes: Volume, Relative Volume

Description: Edit the setup line for volume divergence signals.

Show lines

Description: Show/hide setup lines.

  1. Dash style

Description: Setup line dash style.

  1. Width

Description: Setup line size.

  1. Bullish color

Description: Lone setup line color.

  1. Bearish color

Description: Short setup line color.

  1. Color opacity

Description: Setup line opacity.

  1. Offset AR – price panel

Description: Setup line distance from price panel price in AR.

  1. Offset pixels – indicator panel

Description: Setup line distance from indicator panel value in pixels.

  1. Volume Divergence Triggers (Volume, Relative Volume)

Trigger method

Applicable Modes: Volume, Relative Volume

Description: Method used to confirm the divergence setup, forming the trigger signal. ‘Real Time’ ==> confirm in real time (no setup bars used). ‘AverageRange’ ==> confirm when price moves an AR multiple distance from the H/L of the setup bar (setup bar must be closed before confirming). ‘SetupBarClose’ ==> confirm when setup bar closes. ‘NonSetupBarClose’ ==> confirm when the first non-setup after the setup bar closes.

Maximum lookback to end-bar

Applicable Modes: Volume, Relative Volume

Description: Sets the maximum number of bars allowed between the trigger and the last setup-bar, such that if the trigger does not occur within this many bars, the setup is canceled. -1 = infinite / no limitation.

Allow trigger on setup bar

Applicable Modes: Volume, Relative Volume

Description: When enabled, triggers may occur on the same bar as the setup.

Directional bar close requirement

Applicable Modes: Volume, Relative Volume

Description: Require a weak thrust bar, strong thrust bar, or no thrust bar for trigger bar.

Deviation method

Applicable Modes: Volume, Relative Volume

Description: Specify the distance (in ticks or average range) that price must move in favor of the signal for a trigger bar to be allowed.

Minimum price deviation

Applicable Modes: Volume, Relative Volume

Description: Units (AR or ticks) set via ‘Minimum price deviation’ property above. Defines the AR multiple or tick distance that is required for price to move in favor of the signal before a trigger bar is allowed.

Show AR trigger marker

Applicable Modes: Volume, Relative Volume

Description: Plot a dash on the bar/price at which the avg range trigger occurred to confirm the divergence trigger bar.

AR trigger marker color

Applicable Modes: Volume, Relative Volume

Description: Color of AR trigger marker.

AR trigger marker size

Applicable Modes: Volume, Relative Volume

Description: Size of AR trigger marker.

Advanced signal builder

Applicable Modes: Volume, Relative Volume

Description: Select the volume signals required for a trigger bar.

  1. Bars before

Description: Set the number of bars before the trigger bar that should be searched for the volume signal requirement.

  1. Bars after

Description: Set the number of bars after the trigger bar that should be searched for the volume signal requirement.

  1. Logic

Description: Set if AND or OR logic should be used to combine set 1 and set 2.

  1. Set 1

Description: Select required signal conditions. Signal names with a ‘_Directional’ postfix require that the bar close in the direction of the divergence signal.

  1. Number of conditions

Description: Set the number of conditions to be used (max of 10).

  1. Logic

Description: Set if AND or OR logic should be used for the condition set.

  1. Condition <#> Description: Enable to require this signal.
  2. Set 2 <Same as Set 1 above>

Trigger shapes

Applicable Modes: Volume, Relative Volume

Description: Edit the trigger marker for volume divergence signals.

  1. Show markers

Description: Show/hide trigger marker.

  1. Keep unconfirmed markers

Description: Keep trigger marker even if the divergence trigger never occurs.

  1. Bullish marker wingding

Description: Long trigger marker wingding character.

  1. Bearish marker wingding

Description: Short trigger marker wingding character.

  1. Marker size

Description: Trigger marker size.

  1. Bullish color

Description: Long trigger marker color.

  1. Bearish color

Description: Short trigger marker color.

  1. Color opacity

Description: Trigger marker opacity.

  1. Offset pixels

Description: Trigger marker distance from price in pixels.

Trigger lines

Applicable Modes: Volume, Relative Volume

Description: Edit the trigger line for volume divergence signals.

  1. Show lines

Description: Show/hide trigger lines.

  1. Dash style

Description: Trigger line dash style.

  1. Width

Description: Trigger line size.

  1. Bullish color

Description: Lone trigger line color.

  1. Bearish color

Description: Short trigger line color.

  1. Color opacity

Description: Trigger line opacity.

  1. Offset AR – price panel

Description: Trigger line distance from price panel price in AR.

  1. Offset pixels – indicator panel

Description: Trigger line distance from indicator panel value in pixels.

Accessing Signals via BloodHound

Each of the signals are stored in a DataSeries with a unique code to allow access to the signals from within BloodHound. Below are the names of the DataSeries made available and their associated signals/bar-codes.

Volume & Relative Volume

PrimaryBarCode

2 = Increased Volume

1 = Decreased Volume

SecondaryBarCode

2 = Extreme Density

1 = High Density

ClimaxBarCode

2 = Extreme Climax

1 = Climax

ChurnBarCode

2 = Extreme Churn

1 = Churn

LowBarCode

4 = Low Density + Extreme Climax

3 = Low Density + Climax

2 = Low Density

1 = Low Volume

DensityClimaxBarCode

4 = Extreme Density+ Extreme Climax

3 = High Density + Extreme Climax

2 = Extreme Density + Climax

1 = High Density + Climax

DensityChurnBarCode

3 = Extreme Density + Extreme Churn

2 = Extreme Density + Churn

1 = High Density + Churn

TwoBarPatternBarCode

4 = Extreme Climax + Extreme Churn

3 = Extreme Climax + Churn

2 = Climax + Extreme Churn

1 = Climax + Churn

VolumeSpikeBarCode

3 = Extreme Spike At Low

2 = Major Spike At Low

1 = Minor Spike At Low

-1 = Minor Spike At High

-2 = Major Spike At High

-3 = Extreme Spike At High

ResistanceLineHigh

<extreme spike at high resistance line price>

SupportLineLow

<extreme spike at low support line price>

VolumeDivergenceSetup

1 = Bullish Volume Divergence Setup (at a low)

-1 = Bearish Volume Divergence Setup (at high)

VolumeDivergenceTrigger

1 = Bullish Volume Divergence Trigger (at a low)

-1 = Bearish Volume Divergence (at a high)

Density & Relative Density

PrimaryBarCode

2 = Higher Density

1 = Lower Density

DensityBarCode

2 = Extreme Density

1 = High Density

LowBarCode

1 = Low Density

Range & Relative Range

PrimaryBarCode

2 = Increased Range

1 = Decreased Range

WideRangeBarCode

4 = Extremely Wide Range Outside Bar

3 = Extremely Wide Range

2 = Wide Range Outside Bar

1 = Wide Range

NarrowRangeBarCode

4 = Extremely Narrow Range Inside Bar

3 = Extremely Narrow Range

2 = Narrow Range Inside Bar

1 = Narrow Range

VolumePerSecond

PrimaryBarCode

2 = Higher VPS

1 = Lower VPS

VPSBarCode

2 = Extreme VPS

1 = High VPS

LowBarCode

1 = Low VPS

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