**** Req: Convert the output of volume indicator from digital to histogram****

Hi Friends need someone in this forum to convert the output of the volume indicator attached below from its current digital format to a histogram format .... I believe that would work as a perfect delta footprint indicator...

Here's the link to download the indicator

hxxp://www.4shared.c0m/file/bOEaDbIk/volume_indicator.html

(the above is volume.mq4 file for the volume indicator)....

Basically this indicator shows the bid and the ask volume in digital format...was wondering if some one could convert this output , so that the difference of the ask and bid volume appears as histogram about a zero center line, then we would have the delta indicator which is nothing but the difference in the ask and bid volume.

If some one does find this post useful, add a thanks on downloading the indicator .

I would be glad to add thanks to anyone who can help us out .... Thanks

Regards

heisamit

How can somebody response when the link doesn't work? I replaced the hxxp and cOm bUt there iS more things tO repPlace In that pUzzlE?

Hermes

How can somebody response when the link doesn't work? I replaced the hxxp and cOm bUt there iS more things tO repPlace In that pUzzlE?

Hermes

This worked for me.

http://www.4shared.com/file/bOEaDbIk/volume_indicator.html

How can somebody response when the link doesn't work? I replaced the hxxp and cOm bUt there iS more things tO repPlace In that pUzzlE?

Hermes

Hermes,

Please try again , the link works

http://www.4shared.com/file/bOEaDbIk/volume_indicator.html

I aint sure why it didnot work when you replaced the 'hxxp' and 'c0m'.... nevertheless, please enjoy, and please encourage by adding thanks on downloading...if it benefits.

Regards

heisamit

This indicator shows the ask and bid volume on screen, wanted someone to convert the difference of the ask and bid volume and present it as a histogram about the zero line, if ask greater than bid volume, the difference should appear above zero line, and if bid volume greater than the ask volume, the difference should appear as histogram bar below the zero line. This is nothing but the delta indicator ( which shows the net ask/buy volume as a histogram).....surprised no ones been able to figure the code to rewrite this indicator yet... I will be glad to add thanks to anyone who can recreate the above indicator to appear as a histogram format.

Regards

heisamit

try this sir from me

http://www.megaupload.cooooooooom/?d=Q1A3GNRY

try this sir from me

 

 

http://www.megaupload.cooooooooom/?d=Q1A3GNRY

Thanks ScalperX ,

You are a genius,

....wanted you to clarify when does the histogram become blue ( is that when the net buyers for a particular price candle is greater than the net sellers volume for the same candle or does that happen when when the net sellers volume is greater than the net buyers volume for the same candle )..... not very sure, cause I zoomed into the 1 minute chart and thought that at certain times, when the net buyers was greater than the net sellers color of histogram turned red, and sometimes for the same it tuned red. I wanted o know if you can keep the color constant.... I Would like the histogram to stay blue when the net buyers greater than net sellers ...and likewise the histogram should turn and stay red when the net sellers is greater than the net buyers.... that way , we can just observe the histogram and know whether the number of buyers are greater than number of sellers ( blue histogram) for the particular trade candle or vice a versa that is the number of sellers is greater than the number of buyers (histogram red).

so if we are noting a 5 minute chart , and at the end of the 5 mutes the number of buyers volume is say 2000 and the number of sellers is 1500, then the histogram should appear blue...on the other hand if the number of buyers volume is say 1350 and the number of the sellers volume is 1750, the the histogram should appear red in color.....Once the histogram bar has been colored it should not change its color... it should be a non repainting indicator.

was wondering if you could share the mq4 file for the same

that way we could customize the indicator better...nevertheless, really appreciate your hard work put here.

Was wondering if it's possible to do the following, that way we can replicate the Delta foot print indicator ???

Could you make the histogram appear around a zero axis like an oscillator....

say the buyer volume is 2000, and the seller volume is 1500, so in such an instance we will see a candle like histogram formation formation about the zero axis with the wick range from 0 to 2000, and the body extending to 1500 from the zero line.

Similarly vice a versa when the seller volume is greater than the buyer volume ( say the seller volume is 2000 and the buyer volume is 1500), and in these instances, the candle should form below the zero line with the range of the candle being 2000 below the zero line and the body extending 1500 below the 0 line.

Basically the out put ( the difference in the volume of the buyers and sellers ) should appear as an oscillator around the center zero line.

so when the price candle is live the volume candle (histogram) oscillates around the zero line depending on the difference between the volume of the sellers and the buyers...much like a price candle which oscialtes between the low and the high, in this case the candle range would move above the zero line when the buyers volume is greater than the sellers volume and below the zero line when the sellers volume is greater than the buyers volume.

If the net difference at the end of the time interval is zero we should see the histogram as a doji like candle formation....

Well that became kind of confusing...lemme try to simplify that....

while the price candle is live, the volume candle in the histogram should oscillate around the zero center line like the MACD oscillator, pointing to the difference between the buyers volume and the sellers volume. The body of the volume candle (histogram) will be the current difference in the buyer volume and the seller volume at any given point in time. When the sellers volume is greater than the buyers volume the volume candle should atempt to shrink in size from the top side of the range, and when the buyers volume is greater than the sellers volume the volume candle body should attempt to move towards the zero from the lower side of the range. The final position at the end of the duration of the price candle time interval should indicate the net difference in the buyer seller volume for that particular period of time.

When the net difference between the buyers and sellers is above zero ( buyers volume greater than sellers volume), the volume candle should be above the zero line and appear green...and on the other hand when the net difference between the sellers and buyers is such that the sellers volume is greater than the buyers volume, the volume candle should close below the zero line and appear red in color. The candle color should reflect the net sentiment of the market, red showing sellers stronger and green showing buyers stronger.....

Let me know if you want me t draw the same and explain it with a diagram, I will be glad to do that

I think its a brilliant job done by you, hope we can fix the bug for the color issue.....

Once again, ScalperX, my special thanks to you ... and I hope we can take it further from here...

Thanks to your efforts ScalperX, I feel we are very close to developing the delta indicator for the metatrader platform.....

Respect and Regards

heisamit

I see no new updates on this thread...

Optimistic as ever...well I guess that's what every traders got to be...

well can anyone try to modify this indicator

http://www.4shared.com/file/bOEaDbIk/volume_indicator.html

This indicator basically shows the volume transacted at the bid and the volume transacted at the ask and displays the number on the chart.

Ex

Ask Volume:2100

Bid Volume :1900

I want some to modify this indicator so that we can get the difference of the ask and bid volume to appear as a histogram on the chart

in above case the difference is = 2100 - 1900= 200

This should appear as a histogram at the bottom of the chart in a separate window. In case the difference is positive , the hstogram should appear green, and if the difference is negative ( when the ask volume is less than bid volume ), the histogram should appear red in color.

Lets see if we can have any coder to code this one ???

Waiting to than anyone who can recreate this indicator...thanks in advance

Regards

Heisamit

Hi heisamit, check this one:

http://www.4shared.com/file/RRy9Absj/volume_indicator_histo.html

Had coded a similar indi a while back, but couldn't find that much of a difference compared with looking at the size/color of the candle...so never used it

This indi is the modded version of your vol-indi

Hi heisamit, check this one:

http://www.4shared.com/file/RRy9Absj/volume_indicator_histo.html

Had coded a similar indi a while back, but couldn't find that much of a difference compared with looking at the size/color of the candle...so never used it

This indi is the modded version of your vol-indi

Thanks a ton Iwjw,*

Just a small doubt though.....

The red histogram bar in your indicator indicates that the net volume for the particular candle is a bid volume and the green bar does that indicate that the*net volume for the particular candle is a ask volume ? Am I right in my thinking ?....

Or

Are the Red and green histogram bars in your indicator , just reflecting the color of the candle in the price chart, that is the green histogram is produced for green candle bars and the red histogram is produced for the red price candles.....?

I need the histogram to reflect the color of the net volume for the particular candle..that is

Red histogram to be produced on the chart when the net volume is a bid volume ( when bid volume for a particular candle> ask volume for that candle)

and green histogram bar to be produced on the chart when the net volume is a ask volume( when ask volume for a particular candle > bid volume for that candle)

The net volume is to be calculated as the difference between the ask and bid volume displayed by the volume indicator.... given in the link below

http://www.4shared.com/file/bOEaDbIk/volume_indicator.html

Have added thanks for your valuable contribution.... however am awaiting for your response before I start testing the indicator, just to make sure that the indicator is in lines with the requirement stated...ie, its based on the diffrence in the ask and bid volume and not an indicator based on the color of the price candles....Thanks a million once again for all your efforts.. really appreciate that.

thanks

Respect and Regards

Heisamit

it's based on the calculation of the volume indicator...so nothing to do with the candle up or down

I mentioned the candle, because I don't see a difference between candle and volume color

The indi I've coded the other day is showing the buy volume to the upside(positive values) and the sell volume to the downside(neg. values). Lets say that a fresh candle started with selling and then buyers come in. I wanted to see whether it would make sense to produce a long signal once the buy volume exceeds the sell volume (what can be seen in the histogramm) but didn't get any deeper into that.

In this version for you, you will either see a green bar (that could have been a red bar before) or a red bar that could have been green

Thanks Iwjw,

For your speedy response, I probably am flawed in my understanding of the volume indicator...

The volume indicator when applied to the chart shows two volumes, one the buyers volume and the other the sellers volume.

I believe that the buyers volume shows number of transactions at the bid price and the sellers volume shows number of transactions at the ask price... am I correct in my understanding so far?

So I presume when the buyers volume is greater than the sellers volume, more trade has taken place at the bid price...I consider this difference to be displayed as a red bar since the sellers have succumbed to the lower bids made by the buyers ...and on the other hand when the sellers volume is greater than the buyers volume, I consider the net trades to be taking place at the ask price and I expect to see a green bar, since the sellers are able to get the buyers to buy at the higher prices...

So I expect to see a red bar when the Buyers volume is greater than the sellers volume and a green bar when the sellers volume is greater than the buyers volume...

However in the indicator provided by you, I see that the histogram bars are just replicating the color of the price bar.

Please donot get me wrong, I have a lot of respect for your work ( I am thank ful to you for helping me modify indicators in another thread too... you had helped me some time back, so I really respect you for the work that you do on this forrum)...however have not been able to understand this indicator.

Could you just redesign it to just take the difference between the buyers volume and sellers volume...from the volume indicator posted by my me

http://www.4shared.com/file/bOEaDbIk/volume_indicator.html

If the buyers volume is greater than sellers volume, print a red bar and if the sellers volume is greater than the buyers volume, print a green bar....

Would really be thankful if you could do that for.

Respect and Regards

Heisamit

Please note , have added the much deserved thanks to each of your posts earlier.

Awaiting your reply... Thanks

little bit confusing:

post #10

II want some to modify this indicator so that we can get the difference of the ask and bid volume to appear as a histogram on the chart

in above case the difference is = 2100 - 1900= 200

This should appear as a histogram at the bottom of the chart in a separate window. In case the difference is positive , the hstogram should appear green, and if the difference is negative ( when the ask volume is less than bid volume ), the histogram should appear red in color.

post #14

If the buyers volume is greater than sellers volume, print a red bar and if the sellers volume is greater than the buyers volume, print a green bar....

EDIT:

the volume represents the number of price changes occured for a candle

it tells us nothing about whether it was an uptick or a downtick

So the indi(volume_indicator) is calculating with the open and the closeprice of a candle and that can't be much more than the candle itself

up=(Volume+(Close-Open)/Point)/2;

down=Volume-up;

little bit confusing:

 

post #10

II want some to modify this indicator so that we can get the difference of the ask and bid volume to appear as a histogram on the chart

 

in above case the difference is = 2100 - 1900= 200

 

This should appear as a histogram at the bottom of the chart in a separate window. In case the difference is positive , the hstogram should appear green, and if the difference is negative ( when the ask volume is less than bid volume ), the histogram should appear red in color.

 

 

post #14

If the buyers volume is greater than sellers volume, print a red bar and if the sellers volume is greater than the buyers volume, print a green bar....

Hi Iwjw,

Accept with all humility...made a mistake in post #10.... am a bit embarressed ... Hope you can modify it to the request in the post #14. Thanks for your prompt reply, you the best. Thanks

you can change the colors to whatever you want using the property window of the indi

In the colors section there are two settings that can be changed

But in the end what would it change?...all you are seeing then is the inverted candle

Maybe it would make sense with MT5 because you can retrieve the tickdata from the history there

Iwjw,

Thanks for the response, appreciate it...was wondering wether you could just create an indicator that would plot the difference of the buyers volume and sellers volume obtained from the volume indicator as a histogram.

I opened 2 charts of the GBP USD alongside one another on my alpari mt4 platform, on one I apllied the volume indicator and on the other I applied the volume histogram indicator provided by you, I noticed that the difference of the volume indicator on the left chart was being tracked as a histogram on the right side chart where I applied the indicator provided by you, however the color of the histogram seemed to be replica of the price bars color, and was probably not reflecting the the strength of the buer or sellers volume strength.

I am not sure if I can explain it any more cleaer, nevertheless, if you open the two charts side by side the way I explained , and track the difference in the buyers and sellers volume , and compare it to the color of the histogram as the candle progresses , it would seem that the color of the histogram seems to be some how reflecting just the color of the price bar, and not the nature of the difference ....

Hopefully someone can help me here...

Nvertheless , appreciate all your efforts to help me out Iwjw, really mean that

Respect and Regards

heisamit

...was wondering wether you could just create an indicator that would plot the difference of the buyers volume and sellers volume obtained from the volume indicator as a histogram.

That's what the indi is doing

Don't know what you are expecting to get if you're plotting the diff between buys/sells

The volume is nothing more than a tickcounter what's making the historical data of the indi more than questionable

Thanks Iwjw.... you are a good guy..thanks for all the help..

Wanted to know if its possible to make the histogram appear as candles instead of histogram bars...that would really look just like the delta indicator and also give us the entire range of the buyers and sellers volume as the candle progressed.

Really appreciate your time... hence adding thanks for every feedback and response from you.

Really hoping you can convert the look of the histogram bars from the bar format to candlestick format ( with wick and body...the body showing the range of how far the difference between the buyers and sellers moved and the body closing at the point where the final difference was noted at the end of that particular price bar)

Lemme know if that's possible.... If you can do that, that would be the end of my quest for the delta indicator... so thanks in advance for every attempt you make in this direction....

Respect and Regards

heisamit