Market Volume Pro Settings

MarketVolumePro settings window

• Exponential half-life Decay time determines the decline in speed for the volume signals. The shorter the time the faster the signal line. The higher the exponential half-life the slower the signal line.
• vDelta/Stop Line Color settings for the vDelta Line in the sub chart.
• hitBid/liftAsk Line Color settings for the hitBid/liftAsk lines in the sub chart.
• vDelta/StopRun +/- Signal Volume that must be triggered to get a signal on the chart after the signal line crosses the zero line.
• vDelta/StopRun +/- Signal Absolute Volume that must be reached after the signal has first returned below 90% of the trigger volume.
• vDelta/StopRun zero-cross Signal Minimum delta change across the zero-cross that must be reached to display a signal on the chart.
• Telegram Settings See ttwtrader.com knowledge base of how to set up Telegram notifications.

General Settings

MarketVolumePro general settings window

General customization settings for the MarketVolumePro add-on:

• Color You can customize the color of the indicators and signals on the chart. The color picker allows you to select from a wide spectrum to differentiate between various signals clearly.
• Symbol This setting lets you choose different symbols to represent different types of signals on your chart, such as arrows for buy or sell indicators.
• Size The size of the symbols can be adjusted according to your preference, with options ranging from very large to small. This helps in prioritizing the visibility of different types of signal.
• Position You can determine the position of the symbol relative to the price on the chart. Options like 'OnPrice' place the symbol directly on the price line, while 'Far from Price' positions it at a distance from the price, helping to avoid clutter and maintain a clear view of the price action.
• Show Price This toggle allows you to choose whether to display the price alongside the symbol. Enabling it could provide immediate price reference, while disabling it could offer a cleaner chart appearance.
• Alert Sound You have the flexibility to set predefined or customized sound files for alerts. Advanced settings enable you to choose different sounds for different alerts, while basic settings likely offer simpler choices.
• Send Telegram Notifications This feature enables you to receive alerts through Telegram. The Knowledge Base can provide detailed steps on setting up your Telegram bot for receiving these notifications.
• Bookmap Alert Message You can enable alert messages that will appear in the Bookmap alerts window. This integration ensures that you're notified within the Bookmap platform whenever a signal is triggered.

Exponential Half-Life

Exponential Half Life Schema

In the context of MarketVolumePro, 'Exponential half-life' refers to a specific setting that affects how volume data is visualized, particularly in terms of the decay or decline of volume signals over time. This concept is rooted in the idea of exponential decay, a mathematical principle where a quantity decreases at a rate proportional to its current value.

• Decay Time This is a parameter that controls how quickly the volume signals fade or decrease in intensity over time. In this context, it's called 'Exponential half-life'.
• Determines the Decline in Speed for the Volume Signals The exponential half-life setting essentially dictates how fast or slow the volume signals will diminish.
• The Shorter the Time, the Faster the Signal Line When the exponential half-life is set to a lower value, the decay of volume signals occurs more rapidly. This means that older volume data becomes less significant quicker, making the signal line more responsive to recent volume changes.
• The Higher the Exponential Half-Life, the Slower the Signal Line Conversely, setting a higher exponential half-life results in slower decay of the volume signals. This makes the signal line less reactive to immediate volume changes but provides a smoother and potentially more stable view of volume trends over time.

Example: Exponential Half-Life = 60

Exponential Half Life with value = 60 seconds

Example: Exponential Half-Life = 10

Exponential Half Life with value = 10 seconds

vDelta/StopRun Line

vDelta line can be customized in the indicator settings window

Customize your vDelta and Stop Run lines' colors by clicking on the color field. This will let you personalize how the vDelta line and the Zero Line appear.

The Symmetric Axis feature draws all lines symmetrically around the zero line in the sub-chart, ensuring balanced visual analysis.

hitBid/liftAsk Line

Customize your hitBid and liftAsk lines' colors by clicking on the color field.

vDelta/StopRun +/- Signal

vDelta signal values can be customized in the indicator settings window

The vDelta +/- Signal is used to help traders identify significant volume events.

• Signal Line There's a line on the chart that oscillates above and below a central zero line, which is the vDelta line. It measures the difference in volume between buy orders and sell orders over time.
• Zero Line Cross The zero line acts as a baseline from which traders can observe shifts in market sentiment or activity. When the vDelta line crosses this zero line, it indicates a change in the dominance of buying versus selling volume.
• vDelta +/- Signal Activation For a vDelta signal to be plotted on the chart, a certain volume threshold must be met (e.g., the number '150' in the settings window suggests the minimum volume required for a signal to be considered significant).
• Signal Color and Direction The arrows' color and direction represent whether the volume event was dominated by buying (green, pointing upwards) or selling (red, pointing downwards).

vDelta/StopRun +/- Signal Absolute

vDelta absolute signal values can be customized in the indicator settings window

The vDelta +/- Signal Absolute is used to highlight significant volume events on a trading chart.

• Signal Trigger Condition For a signal to be plotted on the chart, the absolute vDelta must reach the number specified in the settings after first returning below 90% of that trigger level. For example, with a Signal Level of 500, the signal can re-arm only after absolute vDelta drops below 450, then reaches 500 again.
• Purpose of the 10% Return Rule This feature is designed to filter out noise and confirm the strength of a market movement.

vDelta/StopRun Zero-Cross Signal

Zero Cross signal values can be customized in the indicator settings window

The vDelta zero-cross signal provides visual cues on a trading chart whenever the volume at the zero-cross line reaches a specified level.

• vDelta Line This is a line that fluctuates around a zero line on the chart, reflecting the real-time net difference between buy volume and sell volume.
• Zero-Cross Line This zero line is a horizontal reference that the vDelta line crosses, which typically indicates a potential change in market sentiment or an equilibrium point between buy and sell volumes.
• Volume Threshold In the settings window, 'vDelta/StopRun zero-cross Signal' with a 'Signal Level' set to '20' means that the absolute delta change between the previous value and the new value must be at least 20 as the vDelta line crosses the zero line.

Telegram Settings

See the Telegram Setup article for instructions on setting up Telegram notifications.