Better Volume uses a combination of bid/ask volume and range to identify volume climax, high volume churn and low volume bars. The user may change the period lengths, show all points option and show labels option. This indicator’s definition is further expressed in the code given in the calculation below.
How To Trade Using Better Volume
Better Volume may be used in conjuction with other studys. No trading signals are given for this indicator.
How To Access in MotiveWave
Go to the top menu, choose Study>Volume Based>Better Volume
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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//Look Back = user defined, default is 20
//Average Period = user defined, default is 100
//Use 2 Bars = user selection, default is true
//Paint Price Bars = user selection, default is true
Code may be available on request.