Hi,
I found an indicator that is very useful, is a simplification of VSA concepts. I did not create the indicator myself.
The signal appears once the bar closes, would it be possible to have the signals real time. I’m looking at many charts trading the 5 min and once the signal appears I have to switch charts and then enter and is late many times, that is why I will like to have the signals real time so I can make my decision.
Please find below description of the indicator
It has 4 states.
I believe that a price volume bar can have one of 4 states.
1. It can have increasing spread and decreasing volume. This means that price is moving without strong participation and can not be sustained. Due to the lack of participation, the price is ripe for a reversal.
This is displayed as a Magenta Diamond on that bar.
2. It can have increasing spread and increasing volume. This means there is wide participation and price should continue in this direction.
A red arrow shows the direction down when supply is overtaking demand.
A blue arrow shows direction up when demand is overtaking supply.
3. It can have decreasing spread and increasing volume, which means that the supply and the demand are temporarily stalemated. This is a warning that the direction move may be losing steam.
This is shown by a yellow x on that bar.
4. It can have decreasing spread and decreasing volume. This to me means that the bar has little participation from anyone and that the market is dull or congested. I do not show any indicator for this, because it does not portend any information other than dullness.
I hope you find the indicator usefull
Thanks
Kind regards
I found an indicator that is very useful, is a simplification of VSA concepts. I did not create the indicator myself.
The signal appears once the bar closes, would it be possible to have the signals real time. I’m looking at many charts trading the 5 min and once the signal appears I have to switch charts and then enter and is late many times, that is why I will like to have the signals real time so I can make my decision.
Please find below description of the indicator
It has 4 states.
I believe that a price volume bar can have one of 4 states.
1. It can have increasing spread and decreasing volume. This means that price is moving without strong participation and can not be sustained. Due to the lack of participation, the price is ripe for a reversal.
This is displayed as a Magenta Diamond on that bar.
2. It can have increasing spread and increasing volume. This means there is wide participation and price should continue in this direction.
A red arrow shows the direction down when supply is overtaking demand.
A blue arrow shows direction up when demand is overtaking supply.
3. It can have decreasing spread and increasing volume, which means that the supply and the demand are temporarily stalemated. This is a warning that the direction move may be losing steam.
This is shown by a yellow x on that bar.
4. It can have decreasing spread and decreasing volume. This to me means that the bar has little participation from anyone and that the market is dull or congested. I do not show any indicator for this, because it does not portend any information other than dullness.
I hope you find the indicator usefull
Thanks
Kind regards
Attached File(s)
