Trader David Weis has an interesting way of showing volume - see middle pane in link below: http://www.tradingpsycho.../2011/07/Weis-Wave-1.png Could someone perhaps put together an indicator based on ZigZag, so that in a wave down, it would show these rising red bars of cumulative volume, and in a wave up, rising green bars of cumulative volume?

Thank you very much, Roy. I pasted your code into Indicator Builder and got the following error message: This DLL does not exist in the MSX DLL folder. Any suggestions?

It works perfectly. Again, thank you very much.

Hi Perty This version of the original indicator generates a negative spike when a security is judged to be turning down, and a positive spike when a security is judged to be turning up. {ZigZag Vol Hist Reversal} {Roy Larsen, 2012-2017, 8/2/17} N:=Input("ZigZag % Parameter",0,99,10); A:=Zig(C,N,%); B:=Ref(A,-1)>A AND Ref(A,1)>A OR A>Ref(A,-1) AND A>Ref(A,1); X:=A>ValueWhen(2,1,A); Z:=Cum(1); {Calculate/plot frame Volume} D:=BarsSince(Ref(B,-1)+(Z=1))+1; Long:=ExtFml("Forum.Sum",V,D)*(X=0); Short:=ExtFml("Forum.Sum",V,D)*X; Long:=Long<Ref(Long,-1); Short:=Short<Ref(Short,-1); Long-Short; For an exploration you might use something like this... {colA} Market:=Fml("ZigZag Vol Hist Reversal"); Market>0; {colB} Market:=Fml("ZigZag Vol Hist Reversal"); Market<0; {Filter} colA OR colB Roy

Hi Perty Check the Explorer Options settings. If your setting is "Load Minimum Records" you need to change it to a specific number. I loaded 100 bars for my tests. The "Load Minimum Records" option is rarely the best option to use. It may make the scan run a little faster but is far more likely to return inaccurate or no results. I also suggest that you change the Periods setting default in the source indicator. The lower the "N" parameter (in the indicator) the more hits you will get. On any given date you can expect to get way more results from one column than the other. This is just a reflection of the market, not a sign of a faulty indicator or exploration. Roy

Hi Roy, I have been using the the ZigZag Volume Histogram indicator for a few weeks now and this works very well in terms visual clarity, ie clearly showing the continuing uptrend or the downtrend and also indicating if the last bar will lead to a continuation or a reversal in trend. The Zigzag % parameter I am using is 7. This has helped me hold long positions longer and I am less panicky. The exploration has helped me locate possible reversals. The issue I am dealing now with is, as an example - A stock has been moving up since a few weeks and the Histogram continues to rise (adding to the cumulative volume), the trend is Up. Then for 4 days the stock goes down and the Histogram shows a trend change, the trend is Down (for 3 or 4 days depending on the down move/volume). Then on the next day the stock goes up dramatically on very high volume and the trend is Up. When this happens then the Histogram shows the stock to be in an overall uptrend ignoring the 3-4 days the stock was down (and the Histogram was down). Is there anyway to freeze the histogram at the end of each day so that the signal is fixed (either up or down) and it does not change the next day/days due to a large range bar / or high volume bar? Any assistance in this matter will be appreciated. Thanks.

Hi Roy, Thank you for your suggestion. I am taking on exploring new settings or using 2 different settings with this indicator and scan to see if this helps in dealing with the issue at hand. As of now the scan results brings the number of stocks to review down to around 10-20 daily, which is manageable. Currently, what I do with these results is filter them visually through a few patterns that I follow. The results have been promising. Thank you once again.