Kreslik.com - traders community since 2006

Hey guys, don't know if this is the right forum to place a request, but here it goes.

I have this indicator here which I found at forexfactory called zigzag counter, which displays the total volume of each leg of the zigzag.

What I wanted was for it to show the AVERAGE volume of each leg, not the total sum. Because the total sum does not give a real reading, for example, if you have one up swing with a leg formed by 4 bars, each bar with 2000 volume so total 8000, then you have a down swing with a leg made of 3 bars, two bars with 3000 and one with 2000, also with 8000 total. You would think that it has the same power that the up leg, but no, it is more powerful, it has 33% more power, in this case, if you calculate the average. up leg 8000/4 = 2000, down leg 8000/3 = 2.666

Can someone please tweak this indicator? I think it is easy, you just need to remove the code for summing and replace with a division code, for it to divide the total volume of the leg by the numbers of bars of the leg.

Thanks a lot!

Hi there,

Someone told me I need to change line 81 of this indicator to:

string Str = (string)(vol / (Nbar1 - Nbar2)); //string Str=vol;

Then it will show the average volume of the legs instead of total sum. But seriously, I am no coder, I have no clue of how and in which software open this file, find line 81 and then save the file the right way.

If you know how to do that, please, it will take LESS THAN A MINUTE of your life, and the indicator is great for VSA analysis.

Thanks

Try this.

dojirock

dojirock wrote:Try this.

dojirock

Thanks dojirock, you are the best!



God Bless!

Gauer wrote:Hey guys, don't know if this is the right forum to place a request, but here it goes.

I have this indicator here which I found at forexfactory called zigzag counter, which displays the total volume of each leg of the zigzag.

What I wanted was for it to show the AVERAGE volume of each leg, not the total sum. Because the total sum does not give a real reading, for example, if you have one up swing with a leg formed by 4 bars, each bar with 2000 volume so total 8000, then you have a down swing with a leg made of 3 bars, two bars with 3000 and one with 2000, also with 8000 total. You would think that it has the same power that the up leg, but no, it is more powerful, it has 33% more power, in this case, if you calculate the average. up leg 8000/4 = 2000, down leg 8000/3 = 2.666

Can someone please tweak this indicator? I think it is easy, you just need to remove the code for summing and replace with a division code, for it to divide the total volume of the leg by the numbers of bars of the leg.

Thanks a lot!

Curiosity drop kicked the cat. Hey Man, I like the way you think. Now that you are all set - Thanks Dojirock, Can you show us what you see on the charts? Interesting stuff.

Google for a book called "The Secret Science of Price and Volume" by Tim Ord. I was studying more about volume after I became a VSA and Wyckoff nerd. Very good book. He created this indicator which he calls Ord Volume which is basically a zigzag with leg counter, but instead of giving the cumulative value of the leg (like the Weis Wave), it gives the average of the leg, which shows true power. Then you can clearly see the imbalances of supply and demand, which are the forces that drive the market. You can see when you are approaching a top, when the energy of the move is fading and switching to the other side.

Gauer wrote:Google for a book called "The Secret Science of Price and Volume" by Tim Ord. I was studying more about volume after I became a VSA and Wyckoff nerd. Very good book. He created this indicator which he calls Ord Volume which is basically a zigzag with leg counter, but instead of giving the cumulative value of the leg (like the Weis Wave), it gives the average of the leg, which shows true power. Then you can clearly see the imbalances of supply and demand, which are the forces that drive the market. You can see when you are approaching a top, when the energy of the move is fading and switching to the other side.

Intriguing

there you go....

TheRumpledOne wrote:there you go....

Thanks brother! God Bless.

TheRumpledOne wrote:there you go....

Hello @TheRumpledOne, may I request a modification to the indicator you posted ? it wont take a minute of your time....

After reading an article of "stocks and commodities" magazine, Tim Ord posted some pictures which instead of showing the volume at the lows and highs , showed the percentage of volume and in addition is volume % in the middle of the leg(which I assume is continuously updated as price moves along).

I've tried to modify the indicator myself, however I keep getting wrong values;
The changes I request are as follows,
1. volume % instead of volume itself.
2. volume % in the middle of the leg as it moves along

Thanks for your help in advance if you do decide to tweak it. Please see the attachment.