OOOOOH, what kind of nice charts with wonderful explanation. Im very glad, that you are here LASCAVEL!
- Joined Aug 2009 | Status: Reading the tape | 2,324 Posts
Wyckoff VSA: (1) Supply vs Demand (2) Effort vs Result (3) Cause vs Effect
- Joined Aug 2009 | Status: Reading the tape | 2,324 Posts
Wyckoff VSA: (1) Supply vs Demand (2) Effort vs Result (3) Cause vs Effect
Glad you did not answer yet, as I wanted to expand on my reply.
The second chart shows a Two bar "pinbar", using the concept of "BLENDING INTERVALS". That is, once the second interval closes, you combine it with the previous interval to create on larger interval bar. It is like moving up a timeframe. So if this was a 5 min chart, the two bars would be akin to one 10 minute bar (That's why I said lower timeframe in my first response).
The key of course is that a trader trading pinbars needs to recognise that the two bars in the second...
Guys, this is called experience and perfect explanation! Thank you HiddenGap!
These days I was(Im) really busy, because when I came home, two police cars were parking in front of my house...I think the rest you can imagine
But I will also try to do spend some time here to do the learching plan!
All the best
Gesek, wow that is a brilliant post! Excellent clear charts, headings, checklists everything. I understand now how to use pinbars (upthrust bars) much better than before - thanks. I also needed to understand that pinbars appear on a lower timeframe as another pattern - I got it now!
I would like to congratulate you on your thread! It looks very promising, I will surely check it sometimes.
On the same chart we can find some other pin bars(hard to see here,but its GBPCHF H1 aug20-sept14):
http://i1008.photobucket.com/albums/.../pinpinbar.jpg
As we said before, its the same as blending candles, also engulfing pattern or dark cloud cover on lower timeframe!
Note: The two terms candles and bars mean the same thing to me. They look different on the screen but they show the same information, that is four prices, Open High Low and Close.
How to blend two candles.
- blendOpen = first candle open
- blendHigh = highest of both candles high
- blendLow = lowest of both candles low
- blendClose = second candle close
- blendRange = blendHigh - blendLow (size of candle)
The Blended Pinbars indicator monitors the blended prices as above.
When a wick covers more than half of the blended candle range then a pinbar (wick only) is painted over the top of the second candle.
For example I want to focus my attention on my 30 minute chart and I want to be warned about pinbars on the 1 hour chart. I don't want to keep switching back and forth, I want to see it all in one window.
Gesek has shown us pinbars that appear on lower timeframes as a different type of pattern. The idea is that two candles blended together can make a very significant pattern.
Note: The two terms candles and bars mean the same thing to me. They look different on the screen but they show the same information, that is four prices, Open High Low and Close.
How to blend two candles.
[list][*]blendOpen = first candle open[*]blendHigh = highest of both candles high[*]blendLow...
Thank you robdee for adding another informations on the thread!Another pin bar:
http://i1008.photobucket.com/albums/...ek/downpin.jpg
This pin bar occured during down move and represent bearishness, because the price tried to go up, but there wasnt strength in up move so it closed on the lower side of the candle with higher volume. This is good entry point or good for adding to the down position.
Hello, can any body offer tips. The better volume indicator is not showing white bars on my platform. I use mt4 FXopen and Fxpro. other bar colors are available except the white bar. i have checked the input tab and the stting is correct, but white bar still not showing. is it a coding issue or an issue related to tick volume. appreciate help from any one thanks
We will use only the regular better volume at the start, because its enough for us at the start. The indicator I attached has some plus futures, but as I said before it doesnt matter
We will use only the regular better volume at the start, because its enough for us at the start. The indicator I attached has some plus futures, but as I said before it doesnt matter
I was wondering if you had an indicator that repaints the bar charts removing the open tick. So, in a nutshell, what I'm looking for is a chart that only has the highs, lows and close. Any suggestions?
Thanks!
HiddenGap's comments about 'something compressing the range' triggered my thinking about this as a concept or idea to describe market activity.
HiddenGap also used Bill Williams term 'squat' for a candle that has higher volume but that volume has been compressed into a narrower range. Bill Williams MFI indicator would show a squat as a small value. In other words very little price move gained for all the volume (effort) put into the market.
I am guessing that a squat is a period of high activity during which positions are being loaded...
