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The Volume Detective 411 replies

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(binned per thread starter’s request) MM (Money Maker) Detective

  • #3,941
  • Jun 29, 2019 6:10pm Jun 29, 2019 6:10pm
Quoting JaxPacific
{quote} Hey! I was just getting ready to point out the volume stuff. I posted a shot last night and the VSA entries were razor sharp and confirmed by the indicator.. I was actually really surprised to see How accurate the supply and demand zones were without the volume. It's going to be crazy if we can apply it and maybe make a couple of tweaks. Hey! Shoot me what you mentioned on VSA! Always looking for good sources and never want to think I know it all!
@JaxPacific -- I did see the Volume indicator you had attached to the chart you shared. And, yes, the volume spiked at the same time the price did. Isn't that what you'd expect? Did you see any instances where volume could have been used to filter (i.e. distinguish) between true positives and false positives?
  • #3,942
  • Jun 29, 2019 6:16pm Jun 29, 2019 6:16pm
Quoting Robot Trader
{quote} There was something that I picked up on regarding when the market didn't reverse, but just carried on, he refuses to take a loss and Hedges his positions, this again is very hard to get right and I assume it must have cost him money at some time (or many times), because he quite clearly states he stopped trading for 6 months until he Mastered two things 1) How to Hedge 2) How to spot when the Market is not going to reverse. Well that is brilliant he truly is a Master Trader, I have nothing more to add, just simply Brilliant
me being a trader for 30 plus years i am i awe can not say any thing more to your most mate will have to wait for episode 4
people leave, but this thread will go on for ever
  • #3,943
  • Jun 29, 2019 7:41pm Jun 29, 2019 7:41pm
Quoting Robot Trader
{quote} There was something that I picked up on regarding when the market didn't reverse, but just carried on, he refuses to take a loss and Hedges his positions, this again is very hard to get right and I assume it must have cost him money at some time (or many times), because he quite clearly states he stopped trading for 6 months until he Mastered two things 1) How to Hedge 2) How to spot when the Market is not going to reverse. Well that is brilliant he truly is a Master Trader, I have nothing more to add, just simply Brilliant
In his application of hedge trade, a stop loss will do the same job with the former paying additional cost for no gain other than the psychological reprieve.

If a trader can spot when the market is not going to reverse, does it not make sense to jump onto and take a ride with this current train rather than just watch it on the side and say I'm not stupid to jump in front of this runaway train ?
  • #3,944
  • Jun 29, 2019 7:42pm Jun 29, 2019 7:42pm
Quoting bishopdotun
Even on Gold we can still profit. See the pictures below. (Sorry I took them on iPhone Remote Desktop) {image} {image} Depending on on the situation, this system can be both trend following or reversal.
If we determine that the transaction is as effective as you have shared, then the gold market will always be able to earn money due to strong fluctuations, we can receive profits above 1000pips - 5000pips. However, there must be an appropriate solution of SL to limit the risk due to strong price fluctuations, up and down with the number of pips 10 times or even 100 times higher than other currency pairs.
We wait for the week after the market reopens. I will inform you about results. Once again, thanks to R4M's sharing, BD made rookies as I have an overview of the market and orientation to learn and build effective strategies! Sincere thanks!
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  • #3,945
  • Jun 29, 2019 7:45pm Jun 29, 2019 7:45pm
Quoting skyway
{quote} In his application of hedge trade, a stop loss will do the same job with the former paying additional cost for no gain other than the psychological reprieve. If a trader can spot when the market is not going to reverse, does it not make sense to jump onto and take a ride with this current train rather than just watch it on the side and say I'm not stupid to jump in front of this runaway train ?
Well the thing is is you know when a reversal is not going to be a reversal why even bother trading the reversal, like you say just jump on the train and follow the money.
Some people say I'm lucky, but the more I practice the luckier I get
  • #3,946
  • Jun 29, 2019 7:55pm Jun 29, 2019 7:55pm
Hi R4M,

Just thinking about my last post and knowing when a reversal is not going to be a reversal, then in some respects that is exactly what your filters are doing.

So if a reversal does not pass the filter test to trigger a reversal trade, should those same filters not trigger a continuation trade?

Regards

RT
Some people say I'm lucky, but the more I practice the luckier I get
  • #3,947
  • Jun 29, 2019 8:15pm Jun 29, 2019 8:15pm
Quoting robots4me
{quote} @JaxPacific -- I did see the Volume indicator you had attached to the chart you shared. And, yes, the volume spiked at the same time the price did. Isn't that what you'd expect? Did you see any instances where volume could have been used to filter (i.e. distinguish) between true positives and false positives?
Not always/ Increased volume vs decreased volume in relation to certain candle formations at pre determined zones is what makes for razor sharp volume trades. There is a lot to reading volume accurately, but once you see it, it clicks and it's pretty straightforward. Spikes usually have to do with climactic stopping volume, absorption, and the creation of new supply/demand coming in. Opposite of whoever was in control. Is there a group message option on here? Trying to bbq some hamburgers for the kids and run tests.. while getting some stuff off to you and BD.

So far all I have seen volume do is make things more accurate and more safe. In "just at the right moment"sort of thing. You have any false positives from the indicators? That would be a great place for me to go next and test! Just shoot me some dates and pairs or chart shots.
  • #3,948
  • Jun 29, 2019 8:16pm Jun 29, 2019 8:16pm
Quoting skyway
{quote} In his application of hedge trade, a stop loss will do the same job with the former paying additional cost for no gain other than the psychological reprieve. If a trader can spot when the market is not going to reverse, does it not make sense to jump onto and take a ride with this current train rather than just watch it on the side and say I'm not stupid to jump in front of this runaway train ?
in earlier quotes from him he says he dont follow trends or anything like that so its got me stuffed how he makes money , this thread is real its helping people to understand how the market plays and an endeavor to find a good plan to do that with a ea , i know lows and highs on lower charts to the higher time frames in trending up and down , i also did a exercise on monthly chart on each pair to find the historical highs and lows and redo it again , i do have a edge on other traders i have been trading a long long time and new traders should not expect it for a long long time , now dont laugh its like a sixthsence when looking at charts but we all are different finding a ea that does 85% wins sounds like a perfect idea
people leave, but this thread will go on for ever
  • #3,949
  • Jun 29, 2019 8:36pm Jun 29, 2019 8:36pm
Quoting Robot Trader
Hi R4M, Just thinking about my last post and knowing when a reversal is not going to be a reversal, then in some respects that is exactly what your filters are doing. So if a reversal does not pass the filter test to trigger a reversal trade, should those same filters not trigger a continuation trade? Regards RT
@Robot Trader -- interesting. Now you're thinking outside the box.

Hold onto this thought and let me finish-up with SpikeHunter and the BD strategy. I'm slowly making my way to the finish line -- I'm looking forward to this coming week of Demo testing.

And once the indicators / EAs have seemed to stabilize then it would be interesting to explore some variations.
  • #3,950
  • Jun 29, 2019 8:39pm Jun 29, 2019 8:39pm
Quoting JaxPacific
{quote} Not always/ Increased volume vs decreased volume in relation to certain candle formations at pre determined zones is what makes for razor sharp volume trades. There is a lot to reading volume accurately, but once you see it, it clicks and it's pretty straightforward. Spikes usually have to do with climactic stopping volume, absorption, and the creation of new supply/demand coming in. Opposite of whoever was in control. Is there a group message option on here? Trying to bbq some hamburgers for the kids and run tests.. while getting some stuff...
Quote
So far all I have seen volume do is make things more accurate and more safe. In "just at the right moment"sort of thing. You have any false positives from the indicators? That would be a great place for me to go next and test! Just shoot me some dates and pairs or chart shots.

@JaxPacific -- I'm game. If you can provide some screen shots so I can better see what you look for then we could certainly include "volume" as a filter. It's just that I'm not going to be the guy who figures out the rules -- you'll have to spoon-feed them to me.
  • #3,951
  • Jun 29, 2019 9:06pm Jun 29, 2019 9:06pm
Is there a way to filter out when they are narrow and kissing the edge of channel?
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  • #3,952
  • Jun 29, 2019 10:44pm Jun 29, 2019 10:44pm
Quoting mixedbags
Is there a way to filter out when they are narrow and kissing the edge of channel? {image}
@mixedbags -- it's not that simple. Look toward the lower-right corner of your chart. There's a blue dot kissing the edge of your channel. Would you really want to filter that one as well?

A couple of comments:
1. A good filter would probably need to use some metric other than what is already being used. For example, @JaxPacific likes using volume.
2. The indicator will never win 100%. This is a game of probability -- statistics are important. After 100 trades you look at the stats -- e.g. WinRatio, Profit Factor, Sharpe Factor, etc. We shouldn't focus and worry about every single trade.
  • #3,953
  • Jun 29, 2019 10:45pm Jun 29, 2019 10:45pm
Under the original analysis of multiple time frames, I check in the frame D1, H4, H1, M30, M15 respectively. I see the above indicator is correct and reasonable, the center line does not change at TF. But the above entry point is reasonable. Other variants appear above, under ADR may occur, so we are more careful. I will continue to check other pairs and other variations! In summary, the R4M and BD methods have a clear rule, have a specific time, a nice moment for people to understand and follow it and in my opinion this is an effective, clear, logical rule. which i studied. I sincerely thank the author for sharing!
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  • #3,954
  • Jun 29, 2019 10:51pm Jun 29, 2019 10:51pm
Quoting anhthu049
Under the original analysis of multiple time frames, I check in the frame D1, H4, H1, M30, M15 respectively. I see the above indicator is correct and reasonable, the center line does not change at TF. But the above entry point is reasonable. Other variants appear above, under ADR may occur, so we are more careful. I will continue to check other pairs and other variations! In summary, the R4M and BD methods have a clear rule, have a specific time, a nice moment for people to understand and follow it and in my opinion this is an effective, clear,...
@anhthu049 -- very nice. Thanks for your analysis and the screen shots that make it clear.
  • #3,955
  • Jun 29, 2019 11:10pm Jun 29, 2019 11:10pm
Quoting robots4me
{quote} @mixedbags -- it's not that simple. Look toward the lower-right corner of your chart. There's a blue dot kissing the edge of your channel. Would you really want to filter that one as well? A couple of comments: 1. A good filter would probably need to use some metric other than what is already being used. For example, @JaxPacific likes using volume. 2. The indicator will never win 100%. This is a game of probability -- statistics are important. After 100 trades you look at the stats -- e.g. WinRatio, Profit Factor, Sharpe Factor, etc. We...
Yes, thanks for explaining.
But I want to hit 98% win rate if not 102%.
  • #3,956
  • Jun 29, 2019 11:16pm Jun 29, 2019 11:16pm
Quoting mixedbags
{quote} Yes, thanks for explaining. But I want to hit 98% win rate if not 102%.
@mixedbags -- yes, I understand. And so do I...
  • #3,957
  • Jun 30, 2019 12:47am Jun 30, 2019 12:47am
TradeManagerEA (proxy EA) plus "Trading Indicators"

If you are interested in using SpikeHunter and BishopDoton indicators for automated trading then this is an important post. Some of you may already be familiar with "proxy EAs", but I'm going to assume most are not. I use a proxy EA because:
a. it becomes much simpler to convert an indicator to an EA
b. you keep the indicator's graphics
c. the indicator's graphical BUY / SELL arrows are used to drive the opening and closing of orders

For those already familiar with how the MT4 platform works please excuse the following description. I suspect there may be questions down the road and I want to be able to refer back to this post.

MT4 supports two types of executables -- Expert Advisors and Indicators. They are both coded using the same programming language -- MQL4. And they are both built (i.e. compiled) within the same build environment -- MetaEditor. So, how do they differ? Indicators can not trade, and EAs can not draw graphs -- there are exceptions, but that is a generally true statement.

So, why did MetaQuotes create two different types of executables -- why not just one that can do everything? I don't know. However, I can blow smoke and make a guess. In the Windows world MT4 would now be considered a "light-weight" application since its charts execute within a single thread. Each chart gets a time slice from the CPU and then the CPU moves on to the next chart. Indicators and EAs execute within the chart's single thread. If an indicator or EA requires a lot of computation, then MT4 freezes. The last thing the designers of MT4 want is for an EA to freeze -- and you can understand why. It's okay if an indicator crashes, but not an EA. So I think that is why MetaQuotes separated the functionality. The graphics performed by an indicator can be very CPU intensive and might bog down it's ability to execute trades in a timely fashion -- within a chart's single thread.

It is not common knowledge, but MT4 supports a facility for indicators and EAs to communicate with one another -- using a mechanism called Events. A while back I was introduced to this by a fellow member here -- @Nicholishen. For me it opened up a whole new world and helped solve a number of program-related issues. I have been using this mechanism for my own trading purposes about a year now -- and I'm convinced it's the only way to go.

It's different than what you are used to -- but it's simple. In addition to your indicator it requires one additional executable -- the proxy EA. In my case my proxy EA is called TradeManagerEA.ex4. You attach TradeManagerEA to its own chart -- makes no difference which symbol or time frame. It just sits there. It does not include any strategy logic and does not initiate any trades. All it does is wait for trade requests from indicators. And since TradeManagerEA was built as an EA, then it has access to the APIs needed to open and close positions -- for any pair and any time frame.

Furthermore, only one instance of TradeManagerEA needs to be running within your MT4 session. There can (and will) be multiple "trading indicators" executing on separate charts and they all send their trade requests to TradeManagerEA -- the proxy EA.

Below is a screen shot of the current version of TradeManagerEA. You can see it has a few buttons along the top (which are not important at the moment) and displays the results of recent closed trades and current open trades. But other than that it just sits there -- waiting for trade requests from indicators.

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To be continued...
  • #3,958
  • Jun 30, 2019 1:11am Jun 30, 2019 1:11am
Quoting robots4me
TradeManagerEA (proxy EA) plus "Trading Indicators" If you are interested in using SpikeHunter and BishopDoton indicators for automated trading then this is an important post. Some of you may already be familiar with "proxy EAs", but I'm going to assume most are not. I use a proxy EA because: a. it becomes much simpler to convert an indicator to an EA b. you keep the indicator's graphics c. the indicator's graphical BUY / SELL arrows are used to drive the opening and closing of orders For those already familiar with how the MT4 platform works please...
TradeManagerEA (proxy EA) plus "Trading Indicators" (continued)

Below is a screenshot of TradeManagerEA (the proxy EA) running alongside R4M-BishopDotun-ADRIndi.ex4. There could be additional "trading indicators" as well. R4M-BishopDotun-ADRIndi.ex4 is the exact same indicator some of us have been testing the past few days -- with the exception I've added some additional code that allows it to communicate with TradeManagerEA.

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This is the same indicator as before -- though you see a few additional buttons have been added. In the upper-left are some trading-related buttons -- BUY, SELL, CLOSE, Stop Loss, Take Profit and Lot Size. In the lower-right corner you see a "Trading" button. The Trading button changes color from Green / Red and toggles whether the trading buttons are Shown / Hidden.

If TradeManagerEA is running, then pressing BUY / SELL / CLOSE from R4M-BishopDotun-ADRIndi.ex4 will send a request to TradeManagerEA to perform the corresponding action for the current pair / time frame that R4M-BishopDotun-ADRIndi.ex4 is attached to.

This is NOT automation -- yet. However the presence of trade buttons on the indicator serves two purposes:
a. Allows you trade manually, if you wish.
b. Confirms the indicator and proxy EA can communicate

The final step -- to make R4M-BishopDotun-ADRIndi.ex4 a fully automated EA, is for it to send trade requests to TradeManagerEA at the same time it draws blue (BUY) and purple (SELL) dots and the red 'X' (CLOSE). I'm not there yet, but close.

The screen shot below shows that an error message appears on the indicator if trading has been enabled (Green 'Trading' button) but the proxy EA (TradeManagerEA) is not running:

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To be continued...
  • #3,959
  • Jun 30, 2019 1:26am Jun 30, 2019 1:26am
Hi R4M

your energy and dedication keeps blowing me away - well done.

Regarding the new BishopDoton indicator - would be possible to get a push alert when:

1) Candle close with a valid signal and/or

2) Candle close with a valid signal in the direction of the trade signal.

Ie. we have a buy signal, but we only get the signal when a green bull candle has closed.

Thanks a bunch amigo

PC
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Less is more...
  • #3,960
  • Jun 30, 2019 1:30am Jun 30, 2019 1:30am
Hi,R4me

I'm sorry to interrupt you,but I check your BD indicator on 15M chart.

BD indi:TF 240,ADR 20
R4m ADR:100D,20D,5D
MTF fractal:30M,1H Period 25

I check it from Jun 10 to Jun 28,it seems that it works very,very well.(Attached file is this week chart)
And also,upper line/lower line of BD indi often corresponds to important fib retracement/extension(38.2,61.8,127.2,161.8).
I will trade with your indicators next week.

Thanks
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