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Horizontal volume bars showing volume by price rather than date... similar to function found in Fidelity's Active Trader Pro.
6/15/2006 Added picture of horizontal bars by request. This is just one example of very many out there...
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I agree,
I have used this feature on Stockcharts.com and I really miss it in Metastock
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Could you attach chart print, as I am not sure how it looks?
Recently Volume is flavour of the season (at least in Australia), so different representation might be what we need to see what chart has to offer.
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Rank: Advanced Member
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Doesn’t look to me as significant.
How is it used?
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George
There is is whole area of TA based around using VAP. See Market Profile / Steidlmayer.
P and various other patterns are considered significant by some traders.
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Quote:Could you attach chart print, as I am not sure how it looks?
I edited my original post to include a picture... sorry, should have done that in the beginning.
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George
I'd be interested to hear your comments on the usefullness (or otherwise) of the Volume by Price formula that Weird posted a link to.
Roy
MetaStock Tips & Tools
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Roy,
I put formula in as indicator, and on several charts I noticed that some prices have larger volume.
Some charts have several longer horizontal volume bars some have one, but price oscillated past this price few times, so I find it difficult to grasp significance.
I only guess here, but say price climbs, and at some level price bar start to be larger it would probably mean that big hands offload shares so price might reverse, probably same at the bottom.
But probably too simple and out of all the charts I opened indicator on so far I did not see it yet.
Being new to seeing volume here, my interpretation of significance might be incorrect and I find it hard to give opinion on tool that I don’t know how to use.
Any hints on what to look for?
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After I have finished my exams I will write an external functin that will plot the result as vertical bars...
I have the idea on how to do it. The code already exists, I just have to put it all together. If you are interested in the project - then please let me know else I will not worry about it.
wabbit :D
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Rank: Advanced Member
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Wabbit,
Your bars will relate to volume at certain price levels, but will be drawn vertically?
And what is correct interpretation of volume to price as compared to volume to date?
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My idea is to relate the price data and the volume data, then sort the price (and hence) the volume data for display. Although I could store the information in an array, then match the current bars price to display the volume, I am thinking I will plot two indicators, one is the sorted price data (as a line) and the corresponding volume information)
Like with other functions like the FFT, the data will not be date related, but can be plotted in a separate window from the price and date data. If you zoom all the way out on the chart, you will be able to see how much volume relates to every price in the entity.
It will be a little slow to compute due to the integrated sort process, but it will produce, I think, the desired result. Until we get access to the MS GUI....
wabbit :D
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Weird,
Thanks for posting the link
Its what I am looking for, but unfortunately the results are dispalyed with thin bars. Is there a way to make them fill the whole range of price ccovered by each bar?
George,
You are right, the volume pattern can be difficult to interpret, especially for the beginner
I use it as a visual indicator as the length of the bars do tend to concide with support and resistance as shown in this chart
Weird, others, Is there some way to make the bars in Metastock look like the ones in this chart?
http://stockcharts.com/c...49681101&a=76232913&r=37
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Hi Rls
I do not believe Metastock has that particular charting option.
Concerning Market Profile, my experience with the technique was as a client of a managed futures account for a couple of years where it was applied on intraday data, about 4-8 years ago.
regards
Dave
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