If(Value1 = Lowest(Value1,20),V,undefined);

Originally posted by Niftyg Hi Max and Tanaka,   Thanks for the re-coding Max , however one small correction needs to be made. You just need to switch the < and > around for the red and gold bars. The red bar, the Close < Open, should read close > open and the gold bar should be Close < Open.   I have already changed it on my indicator (I can manage minor editing), just wanted to bring it to your and other readers attention.   Thanks Tanaka for bringing the indicator to my notice.

I have already found the indicator quickens up my analysisof volume/price action. I think I might even play around with the standard 20bar look back to see if there are more optimal settings even though at firstglance 20 bars looks sufficient.

I don’t want to bother Max anymore, he has been too kind! sodoes anyone know what I am doing wrong? I just want to set up my scan so thatit finds EOD results from this indicator, when I put the first value to comparein BullScans as Better Volume Indicator (result 3) is true, I get an errormessage ‘The condition type you have selected may not be used with the type offirst value’.

Happy trading everyone!

Maximo! You are starting to make me feel guilty for notknowing how to code.  You are to myrescue once again, and I’m very grateful. If you’re ever down Geelong way I oweyou some beers!

The indicator is wonderful as usual!

Tanaka

There is a very good volume indicator called the "The Better Volume Indicator". Information can be found at http://emini-watch.com/free-stuff/volume-indicator/

The example in the link which I have pasted below is written for TradeStation. I have searched the net for hours trying to find a Metastock code but can't. Does anyone know if this can be coded for Bullcharts?

Inputs: LowVol(True), ClimaxUp(True), ClimaxDown(True), Churn(True)…

Variables: BarColor(Cyan);

 

BarColor = Color;

 

If BarType > 1 or UseUpTicks = False then begin

If C > O and Range <> 0 then Value1 = (Range/

(2*Range+O-C))*UpTicks;

If C < O and Range <> 0 then Value1 = ((Range+C-O)

(2*Range+C-O))*UpTicks;

If C = O then Value1 = 0.5*UpTicks;

Value2 = UpTicks-Value1;

End;

 

If BarType <= 1 and UseUpTicks then begin

Value1 = UpTicks;

Value2 = DownTicks;

End;

 

Value3 = AbsValue(Value1+Value2);

Value4 = Value1*Range;

Value5 = (Value1-Value2)*Range;

Value6 = Value2*Range;

Value7 = (Value2-Value1)*Range;

If Range <> 0 then begin

Value8 = Value1/Range;

Value9 = (Value1-Value2)/Range;

Value10 = Value2/Range;

Value11 = (Value2-Value1)/Range;

Value12 = Value3/Range;

End;

 

Etc.

Thanks in advance,

Tanaka