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bigMoose

Volume indicator spike removal/manual chart scaling

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Gents, I read back in January 2015 that volume spike removal would be included in future builds.  Does anyone know if it has been implemented, or am I just dense and cannot find it?

 

As a work around, I was trying to manually scale the vertical extent of the volume indicator to give more height to the normal bars and "drive the spikes" through the ceiling.  I unclicked "scale by max" on the volume indicator, but it did not seem to change anything.

 

I sure like how this platform is developing!  Any insight/help appreciated.

All the best,

Dave

 

Reference : http://forums.medvedtrader.com/index.php?/topic/878-volume-spike-on-mt-start-with-tda-data-feed/

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Volume spike "removal" is not really possible - each quote is stored with its cumulative, not incremental volume. That is how they come across in the feeds, and that is how they are stored. Now, the display problem - here is how the "Scale by Max" checkbox works:

 

If it is checked, then the maximum visible value is calculated and the scale is set to 1.05 of the max.

 

If it is unchecked, then the average visible value is calculated and the scale is set to the lesser of 10 times the average or 1.05 times the max.

 

So if there is a BIG spike (more than 10 times the average volume) , and "Scale by Max" is unchecked, the scale will be set to a value that is less than the spike, and the spike bar will go out of bounds.

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Mike, thanks for the quick reply.  When the box is unchecked, and the chart range defaults to 10 X the average volume... it puts the volume trends that I am looking for in only 10%-20% of the vertical window allocated to volume.  Perhaps this is something you might reconsider as it puts the signal down in the  noise?  Perhaps allow the user to set the 10 X the average  number to something lower, perhaps 2 or 3 X average volume?  Or some other way to allow us to have a meaningful volume display with IB's flakey volume spikes.  This may way  be a deal breaker for traders who use the volume behaviour as an indicator.

 

Perhaps I am missing something?

 

All the best,
Dave

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Right click on the volume and select Edit Parameters for Volume to open the parameters by Volume dialogue. The Scale by Max checkbox is in the centre of the dialogue box.

HTH

Cheers

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I sure don't want to come across as a nag... but the attached jpg shows the problem using IB data feed after a power glitch.  I erased the current day data and reloaded.  I can live with the spike, if I could see the rest of the days volume data.  I have UNchecked "scale by max(volume)".. so I believe I am seeing 10x the average volume.  If I check the box, all volume data almost disappears.

It would be nice if we could pick the multiplier that is now set for 10x.  For example, if I could input 3x or 4x, I believe the attached chart would be fully usable.large.volumespike.jpg

Thanks again for thinking of this Jerry!

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