One of our forum members requested an implementation of something he had seen once in a seminar. The concept is simple – draw a high and low price channel corresponding to the price range of the day’s highest volume bar. Each time a higher volume bar occurs, the channel is redrawn to reflect the new high and low. In addition, the day’s chart can be broken into three time periods within which the volume channel is reset. In this chart, the white dots represent the boundary between the time slices. In a sense, these are volumetric pivot levels. (Note: This code will be posted in the gold donor section of the forum on Sunday)
Volume Channel
Can’t wait until Sunday
It looks very interesting!
So what’s that Tortoise Trader indicator you have below?
In development
You sure know how to keep us waiting for the “next episode.” Can’t wait! Thanks for all your help!