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EAprogrammer Jan 16, 2009 6:54pm | Post# 1

Forex Intrday Volume Trading System
 
2 Attachment(s)
First of all, I would like to thanks Alex_S to inspire me to wrote a volume analysis indicator and this thread is dedicated for forex spot using intraday volume.

Please do not post any other file(ea/indicator) to this thread since would like to keep it clean. All updated ea/indicator will be post in post #1.

This indicator works for all brokers and for all pairs.
How this indicator works:
1) Attach to any chart
2) On top left corner, you will see:
i) BMC Max Price: xxx with volume: yyy (Price level accumulated with most volume(buy and sell))
ii) BMC Buy Price: xxx with volume: yyy (Price level accumulated with most buy volume)
iii) BMC Sell Price: xxx with volume: yyy (Price level accumulated with most sell volume)

You just watch for the price level changes and action according. This indicator will have improvements as times go on.

Disclaimer: Alert provided by indicator does not necessary represent the actual market movement. Follow the recommendation at your own risk. Author of the indicator will not held any responsibility for any gain/lost resulting from the alert signal.

Attached is the result of trading GBPJPY with IBFX with customized Volume Analysis Indicator.

Here is the table of values I summarized throughout the day.
Time(GMT) Max Total Vol Max Buy Vol Max Sell Vol
04:23 133.04 133.03 133.05
05:23 133.50 133.50 133.51
09:23 133.54 133.54 133.56
12:23 135.27 133.54 133.56
14:23 135.20 135.20 135.21
15:23 135.20 135.20 135.21


1) As we can see the price is moving from 0000GMT and accumlated some volume in 133.03/05 level and price advance to 133.50.
2) Price move to 133.50 and accumulated enough buy volume (131 for buy and 80 for sell ) and price jumps about 90 pips and retest the same level and rebound for another 200pips.
3) Price consolidates at around 135.21 level and starts accumulate volumes and @14:50GMT, 135.21 accumulates enough SELL volumes and price sink like no look back for 300pips.

Total of 500pips intraday with volume analysis. No other indicator is using.
Click to Enlarge

Name: gbpjpym5 jan 16 intraday volume analysis.gif
Size: 34 KB
BMC Volume Analysis Indicator.ex4

EAprogrammer Jan 16, 2009 7:39pm | Post# 2

EURJPY Intraday Volume Analysis
 
1 Attachment(s)
Volume for EURJPY doesn't accumulate much today as majority of the volume (for both buy and see) is at around 119.48/49 level.

Until 16:30GMT, Max Sell Volume changes from 119.49 to 120.08 and price went down for about 90 pips to reach old 118.48/49 level. Since no volume can accumulate and rebound back to 120.08 level.
Click to Enlarge

Name: eurjpym5 jan 16 intraday volume analysis.gif
Size: 30 KB

EAprogrammer Jan 16, 2009 7:48pm | Post# 3

NZDJPY Intraday Volume Analysis
 
1 Attachment(s)
NZDJPY has Max Total/Buy/Sell volume pretty much remains the same whole day.

As a result, price level is penetrate around 49.30/34 pretty much the whole day. One thing worth to mention is Yellow lines are Jan 15 max buy/sell/total volume price levels.
Click to Enlarge

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EAprogrammer Jan 16, 2009 8:46pm | Post# 4

USDCAD Intraday Volume Analysis
 
1 Attachment(s)
USDCAD has lots of data can shown here.

1) Day starts off with volume accumulated at 1.2511/12.
2) Buy volumes start to accumulating @1.2444 but sell still hangs around 1.2512 @4:23GMT
3) Sell volumes also accumulating @1.2444 and enough sell volumes to overrule the previous level @1.2511/12 and becomes the Max Sell Vol level. Price drops with 2 more pushes @1.2428 and 1.2425.
4) 1.2428 and 1.2425 provides great resistance on rebound at around 1300-1400GMT.
5) Around 1500GMT, Buy Vol @1.2371 accumulates enough to rally, see some resistance previous sell level @ 1.2444 for approx 200 pips and settle for the day.

What a move with USDCAD with support of intraday volume.
Click to Enlarge

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Size: 33 KB

hitpips Jan 16, 2009 8:54pm | Post# 5

let me try
 
Can you attach your indicator>? Or It's just regular volume>?

THANKS

LuboLabo Jan 16, 2009 9:07pm | Post# 6

Good work!!
 
It seems a really good work.
Can we know how your indy work?
Thanks.

Lubo.

LuboLabo Jan 16, 2009 9:09pm | Post# 7

Thanks
 
I see u have attached it!

jaimeca Jan 16, 2009 11:11pm | Post# 8

The Sell side does not seem to accumulate
 
Very interesting indicator EAprogrammer.

On My platform using the posted indicator the sell side is always 0 ?


Is there another version of the indicator available ?

EAprogrammer Jan 16, 2009 11:14pm | Post# 9

This indicator works in real time only.

Since the market doesn't generate any volumes in after hours, so it should reads all 0s.

So far, the indicator has only 1 version, but will have improvements as time goes on.

cjd Jan 17, 2009 12:30am | Post# 10

Time frame
 
Thanks for posting indicator. Sounds very interesting. Would this work on a 1 minute chart? Or does it matter because we are waiting for time of day with high volume for buy or sell?

jaimeca Jan 17, 2009 12:46am | Post# 11

Sell side data
 
I'm running it on visual mode. Only the buy side shows values. if you feel it only works live then I'll test it live sunday at market open.

thnx

This indicator works in real time only.

Since the market doesn't generate any volumes in after hours, so it should reads all 0s.

So far, the indicator has only 1 version, but will have improvements as time goes on.

LuboLabo Jan 17, 2009 4:44am | Post# 12

me too.
 
Also on my vhands it does the same, only buy quotes.

Lubo.

WedWed Jan 17, 2009 5:54am | Post# 13

WoW!!
 
WoW!! you did it EAprogrammer.. you did it.

many time ago..
i have been looking and reading any subject related on VOLUME , becuse its the most imprtant in forex after CHART.

but always i get my self fail and dont understand Volume ..

Hope in this Thread get what i am looking for..


Thank you soo much EAprogrammer.

TauTrader Jan 17, 2009 6:55am | Post# 14

How do you determine probability?
 
Good day to you, EAprogrammer

Could you kindly explain how you determine probability for further up or down movement? Am I correct to say your indi will be balanced on even numbers when the market has no possible direction?

Should your Max buy volume become larger than your Max sell volume, you look for a probable long, and vice versa?

Thanking you

EAprogrammer Jan 17, 2009 7:11am | Post# 15

Thanks for posting indicator. Sounds very interesting. Would this work on a 1 minute chart? Or does it matter because we are waiting for time of day with high volume for buy or sell?
It doesn't matter on either on 1 minute chart or 1 hour chart since the volume is calculated on tick data.

EAprogrammer Jan 17, 2009 7:12am | Post# 16

I'm running it on visual mode. Only the buy side shows values. if you feel it only works live then I'll test it live sunday at market open.

thnx
Test it when market opens.

EAprogrammer Jan 17, 2009 7:18am | Post# 17

WoW!! you did it EAprogrammer.. you did it.

many time ago..
i have been looking and reading any subject related on VOLUME , becuse its the most imprtant in forex after CHART.

but always i get my self fail and dont understand Volume ..

Hope in this Thread get what i am looking for..


Thank you soo much EAprogrammer.
Thank you for your compliment.

I have been writing EA for quite some times now and I always coded using price action/candlestick/MA...etc but I didn't seem can understand the market well.

I thought:
1) Indicators based on price action and mathematics.
2) Chart forms based on price action

So then, what make price moves??? Its the trader that make the price moves by buying or selling..... the volume should should it all.

I have been looking at the volume indicator in MT4 but doesn't really show much. After long readings and coding and finally have this indicator coded and tested on Jan 16 and results are impressive.

This indicator will have improvements and eventually coded as an EA.

EAprogrammer Jan 17, 2009 7:27am | Post# 18

Good day to you, EAprogrammer

Could you kindly explain how you determine probability for further up or down movement? Am I correct to say your indi will be balanced on even numbers when the market has no possible direction?

Should your Max buy volume become larger than your Max sell volume, you look for a probable long, and vice versa?

Thanking you
In general words,
Certain price level should accumulate enough BUY or Sell volume in order for price to move. So, price must move, then wait, then accumulate and then we action.

For the second question, If the market has no possible direction doesn't mean the volume is balanced evenly. Traders buy and sell all the time and volume will accumulate in certain price level. If those trades' volumes don't get big enough, it won't move the market as much as those accumulated levels.
I will be general more documents for everyone to look at and feedback.

WedWed Jan 17, 2009 7:36am | Post# 19

Thank you for your compliment.

I have been writing EA for quite some times now and I always coded using price action/candlestick/MA...etc but I didn't seem can understand the market well.

I thought:
1) Indicators based on price action and mathematics.
2) Chart forms based on price action

So then, what make price moves??? Its the trader that make the price moves by buying or selling..... the volume should should it all.

I have been looking at the volume indicator in MT4 but doesn't really show much. After long readings and coding and finally...

Thanx for your clearification..

TauTrader Jan 17, 2009 7:39am | Post# 20

Thanks
 
Thank you for taking the time to respond to my questions. I know it is still early days for your work on this volume indi...

What I understand is that price will "rest" around certain levels to gather strength or momentum to move in a new direction. Be it up or down. I was wondering as to what amount of "Max level" volumes would signal a possible move in either direction....

Have you been able to quantify that? I understand that higher buy volumes would move price long, and vice versa. But I would like to understand if you have spesific volumes in mind to consider a short or long, or if it could vary.

Your time is appreciated.

warm regards


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