Wyckoff Wave Volume

FB2013
Posts: 20
Joined: 12 Mar 2013
Has thanked: 3 times
Been thanked: 5 times

Wyckoff Wave Volume

Postby FB2013 » 16 Aug 2013

This is my first contribution, I do not guarantee for the validity of the indicator and any other issues which can be caused by using this indicator.
The indicator itself should be seen as a starting point for modeling the famous wyckoff wave indicator. I guess there could be a better implementation of it.

So please feel free to improve it, if somebody made an improvement please give me feedback.
Attachments
WyckoffVolume.pln
(2.96 KiB) Downloaded 257 times
These users thanked the author FB2013 for the post (total 2):
LaurentiusJobauma

User avatar
Laurentius
Posts: 90
Joined: 01 Jan 2011
Location: Europe
Has thanked: 138 times
Been thanked: 36 times

Re: Wyckoff Wave Volume

Postby Laurentius » 19 Aug 2013

Thanks a lot FB for sharing.

I have some troubles with setting up the indicator. Could you please share a screenshot on how it is supposed look like and some setup parameters?

I am familiar with the wave volume indicator as both histogram and wave lines with the instrument itself, but with your indicator I am not able to get anything useful.

Thanks.

Laurentius

FB2013
Posts: 20
Joined: 12 Mar 2013
Has thanked: 3 times
Been thanked: 5 times

Re: Wyckoff Wave Volume

Postby FB2013 » 19 Aug 2013

Yes you are right the indicator is not perfect yet.
For the following picture I used a retracepnts of 1.
Do you get a similar picture ?
Attachments
WyckoffIndicator.png
Daily Bars shown the waves and below the cumulative volume for each wave
WyckoffIndicator.png (39.4 KiB) Viewed 866 times

User avatar
Laurentius
Posts: 90
Joined: 01 Jan 2011
Location: Europe
Has thanked: 138 times
Been thanked: 36 times

Re: Wyckoff Wave Volume

Postby Laurentius » 19 Aug 2013

Sorry my bad FB. Me in cuckoo land. I forgot to set retrace points to 0.0003 with the Euro. I used 3.

Seems to be working fine with the instrument waves, but volume is sometimes not able to follow. There is also an issue with the realtime painting of present volume bar. I'll get some help and see what can be done.

I've attached a picture where I have highlighted some where cumulative volume does not follow the waves. I noticed that I got the Start/End wrong a couple of times, but you get the picture.

Again thank you for doing this. It would have been really nice if we could get this one up and running perfectly and preferably also add volume numbers to the instrument waves.


Laurentius
Attachments
WyckoffWaveVolume_6E_5min_0.0003pnts.png
WyckoffWaveVolume_6E_5min_0.0003pnts.png (39.81 KiB) Viewed 737 times

Jobauma
Posts: 18
Joined: 16 Apr 2013
Has thanked: 7 times
Been thanked: 1 time

Re: Wyckoff Wave Volume

Postby Jobauma » 26 Aug 2013

I have been trying to tap the last bar value in a swing from your coding, but I find it difficult. My desire is to have the volume for each swing as text. So far the text appears in the right places, but it is not the swing volume.

This code shortens the volume number.

Code: Select all

string volNum = default(string);
if ( m_saveVolume[0] > 1000 )
{
   decimal mathround = Math.Round( (decimal)m_saveVolume[0] / 1000  );
   volNum = string.Concat( mathround.ToString(), "K" );
}
else
{
   decimal mathround = Math.Round( ( (decimal)m_saveVolume[0] / 1000 ), 1 );
   volNum = string.Concat( mathround.ToString(), "K" );

This line is placed where plotting of volume in the beginning of a swing is done ( swing high / swing low ).

Code: Select all

m_Text.Value = DrwText.Create( new ChartPoint( Bars.Time[Counter], Bars.Low[Counter] - 0.0005 ), volNum );

The thought was to retain the desired value somewhere in the code.

Code: Select all

m_saveVolume.Value = m_Volume[0];

Am I missing something?
These users thanked the author Jobauma for the post:
FB2013


Return to “User Contributed Studies”