VR4×1 With Less Smoothing
FYI I put my recent favorite way to visualize Shelly’s Volume VR4×1 in this forum post for Tradestation, Multicharts, and Ninja. No plans for eSignal, please don’t ask.
Here’s the pic of it I posted, with some areas where price diverged from it circled (click on the image to enlarge it):
I just use the standard time-honored EMA-trigger method of coloring the line, which allows me to get away with cutting way down on the smoothing of VR4×1 itself, while still having nice long runs of green and red without a lot of whipsaw. For fast trading, this is how I’ve been watching vr4×1 lately.
My Custom Bars
I was once again impressed by the custom bars I’ve been using… I’ve mentioned them a couple times before on the blog. They are a lot like volume bars, except at times they really cut through the noise in a way normal volume bars can’t.
Here’s an example of 10946 share bars, 6-tick range bars, and my custom bars side-by-side. I’ve circled a nasty congestion area on all three charts. See how my bars clearly show the center of the gyration is a tiny value area at 930.50ish? Kinda cool… Also, mine was the only chart where the moving averages didn’t temporarily cross in a bearish fashion…. (click on the image to enlarge):
(vr4×1 is flat on those charts because I just pulled them up for the pic, and vr4×1 is a real-time only indicator).
Do custom bars in Ninja work on historical data, or are they real time only?
You just define a bar type the same as ninja’s built-in types, so you participate in building the bars. It works on historical data.