The Quantum Volume indicator has been designed to help you apply volume price analysis quickly and easily in all timeframes. The indicator takes the volume feed and paints the volume bar to match the price action. Where the price has closed higher, the volume bar is painted blue, and where it has closed lower, it is painted red. To add context to each volume bar, the Volume indicator displays 3 lines that run through the volume histogram within INTRADAY timeframes:
- Highest Volume Line – is a line that maintains a level equal to the current day’s HIGHEST volume bar.
- Lowest Volume Line – is a line that maintains a level equal to the current day’s LOWEST volume bar. This does not include bars with 0 volume.
- Average Volume Line – is a line that displays the AVERAGE volume level within the current day.
Volume bars can sometimes be confusing to read but with the help of these lines, you can easily interpret the level of activity in each bar.
Open your NinjaTrader 8 platform and select a chart.
Right click the chart to bring up a menu which looks like the following image:
Select Indicators… which will open the following window. Alternatively, you can open this window by clicking the Indicators button in the chart toolbar or by pressing Ctrl + I while focused on the chart.
In the Indicators window under Available section, go to Quantum > Quantum Volume and click it to select the indicator. Once selected, click “add” under the Configured section which will put it on the list of active indicators to be added in the chart.
Before clicking the OK or Apply button to complete, the indicator has several configurable options. You can click the Apply button at any time, and this will apply any changes you have made to the indicator without closing the window. This will allow you to see the changes you have made to the indicator, without closing with the OK button or the Cancel button.
All user input can be configured at the right-hand side of the Indicators window under the Properties section. These are the default settings when you add the indicator in a chart.
The following settings affect the indicator’s alert notifications displayed in the Alerts Log. You can open the Alerts Log from your NinjaTrader 8 client’s menu bar in the main window at New > Alerts Log.
Alert On New High Volume Bar
When enabled, the indicator sends an alert notification in the Alerts Log when it detects a new volume bar that is higher than the previous highest volume bar within the session.
Alert On New Low Volume Bar
When enabled, the indicator sends an alert notification in the Alerts Log when it detects a new volume bar that is lower than the previous lowest volume bar within the session. (Naturally, the lowest volume bar must be greater than 0)
Alert On Average Volume Crosses
When enabled, the indicator sends an alert notification in the Alerts Log when a new volume bar grows higher than the Average Volume line.
Alert Rearm Time (Seconds)
This adds a delay to the next alert notification, expressed in number of seconds.
Alert Text Color
This setting allows you to customize the color of the text as the indicator’s messages appear in the Alerts Log.
Alert Sound File
You can change here the sound file the platform uses when this indicator triggers an alert. By default, it uses the Alert1.wav file packaged with your NinjaTrader installation. Please make sure that the file is supported and the absolute path to the sound file is entered correctly.
Bullish Volume Color
Sets the color of the volume bars below bullish candlesticks.
Bearish Volume Color
Sets the color of the volume bars below bearish candlesticks.
Display Highest Volume Line
Shows or hides the Highest Volume Line in the indicator.
Display Lowest Volume Line
Shows or hides the Lowest Volume Line in the indicator.
Opens the indicator Input Series dialogue which allows you to select the source of data for your indicator’s calculations.
Sets the frequency at which the indicator performs its calculations.
The label of the indicator’s instance displayed on the chart.
Maximum bars look back
Determines the maximum number of bars the indicator can look back to perform calculations on historical data. This is set to 256 by default (the most memory-friendly setting), but it can be changed to “infinite” to allow for a greater look back period.
When enabled, the indicator will be included in the chart panel’s vertical automatic scaling.
Sets the number of bars by which to displace the indicator plots.
Display in Data Box
Enables or disables the inclusion of the indicator’s plot values in the Data Box
Sets the panel in which the indicator is plotted. If you select “Same as input series,” the indicator will be linked to the Input Series and automatically move if the Input Series is modified to a different panel.
When enabled, the indicator value is plotted in the axis selected under the “Scale Justification” property.
Sets the scale on which the indicator will be plotted. Possible values are “Right,” “Left,” and “Overlay”.
Enables or disables visibility and function of the indicator on the chart.
Plots & Lines
Sets a variety of parameters, such as color, for the plots drawn by the indicator.
Unloading the indicator
Here are the steps to remove the indicator in the chart.
Right-click on the chart then select Indicators… from the menu. Select Quantum Volume from the Configured section and click “remove” then OK to confirm and the indicator should be unloaded from your chart.
Using the Quantum Volume in the NinjaTrader Market Analyzer
The Quantum Volume indicator works in any instrument with historical volume data.
Adding the Quantum Volume as a Market Analyzer Column
Here are the basic steps to add the Quantum Volume in the Market Analyzer:
Make sure valid rows are present in the Market Analyzer window.
Right-click anywhere in the Market Analyzer window then select “Columns…” in the context menu.
The Columns window appears. In the Available section, go to QuantumMarketAnalyzerColumns folder then double-click the Quantum Volume to add the indicator as one of the columns in the Market Analyzer.
Select the type of information you like to display using the Column drop down menu under the Properties section of the indicator.
Set the timeframe of the indicator in Properties > Data Series section with the following user inputs:
Type – select a time-based series such as Minute or Day
Value – set the interval for the type of series selected above
When running the indicator in timeframes less than Hourly intervals, please configure the “Load data based on” property to “Days” and the “Days back” property to the default value of 5 days to ensure that there is enough data for the indicator to work with.
After you have finished all your configurations, click OK to confirm your chosen settings and to add the indicator as a column in your Market Analyzer window.
The Quantum Volume is a multi-faceted indicator that can display different types of signals which can be selected through its Column drop down menu found under the Properties section. You can customize the indicator’s function in the Market Analyzer by selecting any of the options enumerated below.
- CurrentVolume – displays the value of the current volume bar.
- HighestVolume – displays the value of the current day’s highest volume bar. This column is valid in intraday timeframes only.
- AverageVolume – displays the average value of volume bars within the current day and indicates if the average is less than or greater than the current volume bar. This column is valid in intraday timeframes only.
- LowestVolume – displays the value of the current day’s lowest volume bar that is greater than 0. This column is valid in intraday timeframes only.
Tip: You can change the Label property of the column to describe what type of signal you choose to display.