Comments for https://ctrader.com/products/277
Comments for: https://ctrader.com/products/277
- Oouterrimtrading25
Hi @srlcarlg
Many thanks for programming these indicators. I played a bit around with this one and the order flow ticks in the last couple of days. I must say they are very helpful and great tools so far!
I did some cross checking between the two for plausibility and got varying results. When I pull a delta range box in the VP indicator over a certain timeframe and I pull a delta range box in ODFT over the same timeframe, for some bars the results differ a lot. But only for some. Some are matched almost perfectly but some bars show even the opposite momentum.
Any ideas what the reason for this? Are these two indicators combinable? Might it be a settings issue?
Many thanks in advance for your time reading this! Looking forward to your answer.
Best, Max
Hello @outerrimtrading25
You're welcome! I'm glad that they are being useful, thanks for the kind words!
Now about you question => This behavior is expected, let me explain why:
- The VP indicator, in default settings, uses m1 volume data (from broker) and applies some "Tick simulation" when using OHLC distribution.
- The Delta mode uses the bar direction (ex: Up or Down) to determine if the final result is negative or positive delta.
- The results of VP indicator is an approximation/estimate of data, which leads to better performance.
- ODFT uses 1-Tick data to calculate everything, so the final result is more reliable.
- However, there a "catch" that I'll explain below.
The "catch" thing is that, for both indicators, in delta mode:
- We calculate the cumulative (buy - sell) for each segment!
Pay attention to the "cumulative", depending of the "Segments" and "Row(pips)" used, they can differ or match each other.
Okay, but why I used the "cumulative" instead of "plain" difference? There's just one, but simple reason:
- We are working with limited data!
And, by doing this approach, we can have a lot of "alphas" by just changing one or two settings!
You know, in 2022, that was the only way I could find to get something closer to real volume using OHLCV + 1-Tick data.I hope it clarified your questions (well made btw)
Have a great day,
Carl- Oouterrimtrading25
Hi @srlcarlg
Many thanks for the quick and comprehensive answer!
I use the ODTF VP now for the active session. It feels like this gives me very precise LVN for the day.
For higher time frame VP I use the VP indicator. It seems to me that this setup works out quite well so far.Sometimes there are very dominant spikes in one row in the VP indicator. When I adjust the range box a bit it goes away.
I guess this is a result of the "simulation"?Would you agree that this is a reasonable use of your tools?
Many thanks again for the great work!
Best, Max
Hello @ourerrimtrading25
My apologies for the late response!Well done! That’s exactly the way I use them, the ODFT for Intraday Analysis and VP for Macro-Structure, so it’s not just reasonable, but how it was intended to be used!
Regarding of the "very dominant spikes in one row", your intuition is absolutely right!
There are 3 known situations where it can happens:- ¹VP Delta in OHLC distribution.
- ²VP/ODFT in Price-Based Chart (Tick, Renko, Range)
- ³VP/ODFT Range between Friday-Monday
1º A single bar can add “multiples ticks” to the same row if its spread(body) is high.
2º The histograms are drawn using Time as X-axis, if the value of a single row is way too high, only values near to it will be displayed properly.
3º As you can expected, it's due to the Time-based X-axis.Again, well done for exploring the capabilities of these creations!
Have a great day,
Carl.
- The VP indicator, in default settings, uses m1 volume data (from broker) and applies some "Tick simulation" when using OHLC distribution.
- AIn reply tosystem⬆:ash_howard315
Good Afternoon Carl,
Do you have something that shows Current and Previous day Highs and Lows as well as Initial Balance for Asian, London and New York open?
Thank you very much.
Kind Regards,
Ashley
Hello @ash_howard315
Good Morning or Night!Nice to see you here again, I hope that you're doing great.
Also, my apologies for delaying the "Labels" feature, the open-source model have some downsides, you know?!
I take a look on them just in my free time.Now about your question => I did a search through cTrader Store, since there are so many great products now, and...
I find one that does exactly what you asked, by the screenshots, it comes with a pretty visualization!I'm also developing one great product and it's truly innovating! Stay tuned here on cTrader Store.
Have a great day,
Carl- Aash_howard315
Hi @srlcarlg
Thank you so much for the assistance, I really appreciate it. I am going to to give that indicator a shot.
Looking forward to the release of yours.
I hope you have an excellent day or night.
Thank you for always assisting.
Kind Regards,
Ashley
- CIn reply tosystem⬆:Comment deleted
Hello @calvin123paradise
Thanks for your support!
Straight to the point, you can use the indicator the way you want, it's fully configurable like all my other tools.
If you want to know what the Volume Profile means, then should take your time to learn about it, there are plenty of online resources to study the VP concept.
Have a great day.
Carl.
- AIn reply tosystem⬆:ash_howard315
Good day,
Thank you very much for this indicator. The panel on the left where you adjust the settings. Is it possible to hide the panel, So I can still easily adjust stop losses etc?
Thank you for your time.
Hello @ash_howard315
You're welcome! It's a pleasure to see these creations fulfilling their purpose, I appreciate your words.
Now about your question => The indicators that contains the params-panel usually have a small "gray button" that follows the params-panel position (from "Panel Position" standard input)
However, maybe I've understood what you mean => The current params-panel lacks of coloring customization that cTrader Algo API already provides...
Fortunately, there are some great UI improvements coming out, where the free indicators will receive these improvements as well, if applicable.Have a great day.
Carl- Aash_howard315
Good Morning Carl,
Thank you very much for the UI improvements, they work very well.
- Aash_howard315
Hi Carl,
On Free Volume Profile v2.0, under General Settings on the 1h chart for XAU, there are four red horizontal dotted lines visible: one positioned about a quarter of the way down from the top of the screen, one just above the middle, one just below the middle, and one about a quarter of the way up from the bottom.
What do they represent,? I see they are key support and or resistance areas but I don't know what they actually represent.
My apologies for my ignorance, i am still very much a newbie and finding my feet.
Thank you for your time.
Hello @ash_howard315
About UI:
- The recent UI improvements in cTrader Store are made exclusively by its related teams.
- The "UI improvements" that I was referring to are related to the params-panel (not yet released nor implemented) for each v2.0 indicator.
About your question:
- These lines are the "Low Volume Nodes" introduced in the version 1.1 here, the settings related to this feature are located at "HVN + LVN" region.
- I agree with you, it can be difficult for beginner traders to figure out what each line means, I'll take your case into account and make the things even more specific in the next update, following the recent UI improvements of cTrader Store as an example:
Please don't hesitate to ask questions, even though I try to make the user experience as smooth as possible,
2 new features are planned to be implemented by just messaging with you:- "Labels?" for ["VA + POC", "HVN + LVN"] parameters
- Coloring Customization directly in params-panel instead of the standard input
It may take me a while to reply, as well as, implement these features... because I'm doing some conversions and experiments for my next flagship cTrader's project.
Have a great day,
Carl- Aash_howard315
Hi Carl,
I believe those labels will help a lot. Especially to keep track of what i am looking at.
Thanks for the replies and may your projects proper.
- SIn reply tosystem⬆:shvarcvladislav
The panel for changing indicator settings is cut in half on mac os. Can't change the profile between Normal, Gradient, Buy vs Sell, Delta, etc..
How can it be fixed? - DIn reply tosystem⬆:deotemba255
Hello, how to i remove the lagging in the lower timeframe like 1min to access features like VAs and BuySell
For lower-timeframes with massive bars count, I strongly recommend to:
- Set lookback/interval to 1/Daily
- Disable Daily/Weekly/Monthly Profiles, use Mini-VPs instead.
- Disable OHLC Body
- Changing the Distribution to Uniform_Presence may also help, in rare cases.
Regarding VA on BuySell volume mode, as described in Order Flow Ticks, the params-panel already shows which parameters are supported by each mode.