DislikedProf. TAH, Nowhere in your writing do I find an explanation for why we should be able to substitute MT4 tick volume for overall contract volume driven by MMs. Clearly MMs do not use MT4 brokers which are geared for retail traders. How could we possibly say that 20 to 50 MT4 retail trades each with average $1000 can somehow represent 20-50 trades averaging $10-15 million by MMs? Am I missing something here? Because to me this goes to the heart of your PVSRA system. Also, is PVSRA really different from PVA? I don't see that, either (PVA also claims...Ignored
Sure, the volume feed for retailers is only for what business is transacted thru their broker, and not contract sizes but just the number of orders executed. If you want to dot every "i" and cross every "t" then you might simply trash the "volume" retailers are fed as worthless. But it does have value. Relative changes in value tend to have the same pattern broker to broker, even though the numbers of orders executed are different. These patterns reflect increasing and decreasing interest in placing orders, which tends to be consistent broker to broker. And they tend to be consistent with the market as a whole. And it is the best we have to conveniently work with. And it is adequate. That is the key. It is adequate for the job.
As far as my statement about "dated", I think what I had in mind is the fact that the tools the "MMs" have is ever improving. They are in an ever increasing position to manipulate prices in a manner most convenient and effective for themselves. Furthermore, the "Thieves of Wall Street" have come over to inundate the currency market after shitting up their own back yard and making it stink so much that lots of folks won't play there anymore. So in an increasing way, they have come over to this back yard. And now they are shitting it up here, too! Price manipulations are on the increase, both in frequency and in degree, due to the greater participation, with better tools than ever before, with better credit availability than ever before, by the "Thieves of Wall Street" (trading houses and banks, now morphed into one and still just as crooked) that are greedier than ever before and that take full advantage of this less regulated market than ever before! Things have been changing, rapidly so, and not for the better. So, the "way of seeing the market", the attempt to see the way the market really is, would have to be changing.
This is just the Price-Volume Analysis part of PVSRA. It shows the notable volumes associated with the price bars. You then have to take S&R into consideration in order to accomplish PVSRA.
I get a lot of criticism for the way I see the markets. But, I like to keep things simple. For me, if something waddles like a duck, and quacks like a duck, and looks like a duck, then for me it is a duck and I will treat it like a duck. And it works for me just fine. So, without the necessity to dot every "i" and cross every "t", and using the most basic of market indicators in the manner they are provided (price, volume, S&R) and a healthy acknowledgement that price manipulations abound (and why they abound), PVSRA works. As with any tool, you have to use it wisely. You can easily cut off your arm with a new, sharp chain saw if you get careless. Same here.