|cQ-DATR Volume MT4 Indicator|
October 29, 2023
The cQ-DATR Volume indicator is as you would expect a volume indicator. If there is enough up volume then a blue bar is drawn, while if there is enough down volume then an orange bar is drawn. If there isn't enough volume then a darker blue and darker orange color is drawn.
The indicator is similar in design to the W.A.E. volume indictor but does not use the MACD. In place of the MACD the DATR is used, that is the Directional Average True Range. If the candle's close is greater than it's open then it is used for the Up ATR, and if the close is less than the open it's used for the Down ATR. The price data is then input in to a moving average which outputs the DATR. If the Up DATR is greater than the Down DATR, then the Up DATR is used and vice-versa.
Version 2.0 of this indicator uses a different price input filter to the DATR. It can be disabled by setting both the Distance ATR Multipliers to 0.0. Where the previous version used 1 distance filter this one uses two. It also subtracts the input*CandleDistanceMultiplier of the opposite direction. This allows the DATR to return to zero faster.
There are 4 Band modes that generate one or two trigger lines:
Both the Up and Down DATR are used to generate the trigger lines. The DATRUp and DATRDown values are tested for the larger value with the smaller value being set to zero as shown below. The StdDev Single Channel input uses the sum of both the Up and Down DATR. The StdDev Dual Channel is the StdDev of the Up and Down DATR. The Moving Average Single and Dual Channels are simply the DATR smoothed by a moving average, either the sum of both or each individually.
The MINIMUM ATR Level can be used to help reduce the noise when price is going sideways. The histogram will turn a darker color when current DATR Volume is below this level. It uses two different ATR settings, one longer and the other shorter, to modulate the level. The longer/larger setting is used to keep the level above the noise while the shorter level is SUBTRACTED from the longer/larger level thus lowering its level to the point of triggering a brighter blue or orange bar to be drawn.
It is calculated using the current value used to calculate the DATR, the high-low, fabs(open-close), or the fabs(close[i]-close[i+1]). This value is then smoothed by either an SMA, EMA, SMMA, or LWMA. If the DATR Input is set to high-low and the MINIMUM ATR Level Mode is set to SMA it is the same thing as the ATR. Changing the DATR Input Mode setting from high-low to fabs(open-close) will require the MINIMUM ATR Level Mulitiplier to be increased. So this isn't exactly two ATR values.
The above download (zip file) contains this indicator and a No-Parameters version. The parameters version will save the indicator's current settings to a file. This file is read by the No-Parameters version where the saved parameters used by the indicator. The No-Parameters version only has one parameter which is the preset filename. Here you would put the previously saved parameters created when using the Parameters version. This will allow you to use the No-Parameters version in an expert advisor without the need to pass all the parameters (see dialogbox image below). When used in an expert advisor the No-Parameters version parameters are loaded one time when the indicator is initalized. You only need to call the iCustom("cQ-DATR Volume",Buffer#,Candle#) to retrive the indicator's output.
You can access the saved parameter files by opening the Open Data Folder and going to the cQ-DATR Voume folder: MT4HASH# -> MQL4 -> Files -> cQ-Indicators -> cQ-DATR Volume 2.0. Here you will find the saved parameter files. It is a good idea to save an MT4 Preset of settings just in case you over-write the cQ-DATR Volume Parameters file.
October 31, 2023 Version 2.2 Update - Starting in v2.2 I added 4 new parameters and increased the number of moving averages which can be used to calculate the MINIMUM ATR LEVEL from 4 to 35. Because of this the "No Parameters" indicators are unable to read the v2.0 or v2.1 created preset files (*.bin). They are however able to read the MT4 presets created by the indicator (Load & Save buttons). You can save your v2.0 and v2.1 to an MT4 preset and then load them into the v2.2 indicators which will create a *.bin preset file that the v2.2 "No Parameters" indicator can read.
The DATR Threshold ATR parameter operates on price data before the DATR. The parameter controls the level at which price date enters the DATR. If the current input (high[i]-low[i],fabs(open-close), or fabs(close[i]-close[i+1])) is less than the DATR Threshold ATR value a 0.0 is used for the input value. If the current input is greater than this value then the value is entered. When in use it effects the DATR by turning more of the blue and orange histogram bars to darker colors. It has a similar effect to DATR Larger Distance and DATR Smaller Distance parameters, but is more selective.
The BANDS Zero Opposite DATR Input and BANDS Zero Opposite BAND Output parameters operate on the BANDS. The DATR output is fed into the input of the BANDS (which is either a smoothing moving average or standard deviation). At the DATR output, if the DATR Up value is greater than the DATR Down value the DATR Down value is set to 0.0 and vice-versa. The BANDS Zero Opposite BAND Output does a similar thing to the BANDS output values. If the BANDS Up value is greater than the BANDS Down value then the BANDS Down value is set to 0.0. This will cause the bands to be closer to the zero line level instead of floating above it. When set to 'YES' you will get more Brighter Histogram Colors (Enough Volume is present).
November 16, 2023 Version 2.3 Update - The DATR Input Mode has been removed and a new OUTPUT Mode has been added. Also the pre-filters used before the DATR have been changed, and it responds differently now. This is the main reason v2.3 isn't compatible with earlier versions. It should however be easier to use and give more usable results. Another OUTPUT Mode called Darker Bar When Decreasing has been added. In this mode if the current Histogram Bar has enough volume (brighter color) and the next Histogram bar is less than the current one, the next bar will be drawn in a darker color. See image below.
When price is below the Bands it will be drawn in a more darker color. The EA buffer have changed to 9.