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Nova Volume Trading System

  • #61
  • Oct 30, 2024 11:19am Oct 30, 2024 11:19am
Hello there, sorry I'm new to tradingview, may I know why the indicator is not showing? Thanks in advance!
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Not searching for unusual subject matter but making the commonplace unusual
  • #62
  • Oct 30, 2024 1:01pm Oct 30, 2024 1:01pm
Quoting MachineLearn
{quote} Thanks. I use tradingview for indicators and broker. Unfortunately, I don't use MT at all.
Ok
Then can you please explain the squeeze idea realized in this candle marking indicator?
Just an opinion. Based on research
  • #63
  • Oct 30, 2024 1:24pm Oct 30, 2024 1:24pm
Quoting since80808
{quote} Ok Then can you please explain the squeeze idea realized in this candle marking indicator?
Sure. RickM talks about this a lot and in recent testing I found it particularly powerful. In essence we want to find two things before we enter the market with whatever signal you use...in this case it's NOVA.

First we want to see a Squeeze as RickM wrote -
"Using a Bollinger Band, I am searching for Squeezes when these Bollinger Bands move inside a Keltner Channel Bands (set to 1.5). Now I am looking to enter a trade before breakout once it crosses the 21 EMA if it continues current BIAS. So in a Major Bearish Trend, I want to enter within LOW VOLATILITY area inside a SQUEEZE before "The Firm" enter the market and attack high Bid/Ask imbalance."

He explains that all trends start from squeeze.

The second thing we want to look for is an area where the market makers can take advantage of traders. The easiest way to find this is to look for a fake out in one direction. Usually a sudden push to one direction, sweeping liquidity and trapping traders before price pushes to the opposite side.

From my experience the Squeeze will come after the trap but still looking into this.

Once yoy identify the Squeeze and the Trap, yoy have your bias set and all you need now is a timely signal to enter the market. That's where we use the entry method that the OP mentioned.

So the way the indicator is posted works is it's identifying the squeeze for us...by printing green candles. Then colonizing the Candles based on expansion. The lighter the color the more likely for the trend to continue expanding in current direction.
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  • #64
  • Oct 30, 2024 1:28pm Oct 30, 2024 1:28pm
Quoting xkwisit2001
{quote} Good point—there’s no centralised volume in FX, so of course we are working with tick volume, which reflects price movement frequency. While it’s not the full picture, I’ve found it reliable for gauging momentum shifts, especially with broker-specific data.
Since FX volume is broker specific, have you done any reasearch as to which brokers data contains the highest volume? Whose feed are you using to get your results results.
Thanks
Its all just one persons opinion
  • #65
  • Oct 30, 2024 1:52pm Oct 30, 2024 1:52pm
Quoting axecap
{quote} Since FX volume is broker specific, have you done any reasearch as to which brokers data contains the highest volume? Whose feed are you using to get your results results. Thanks
My broker is IC Markets which is ranked largest broker for volume so I suppose it helps to use them if using it but I have used this with other brokers and still had similar results.

I appreciate you pointing out the volume being by broker as new people may not get that. However, with anything it's always best to test things first before making decisions.

This has been working for me so I'm only presenting what I have found... but yes, its tick volume.

Yet to try it on futures though.
You can lead a horse to water, but you can't make it drink
  • #66
  • Oct 30, 2024 1:58pm Oct 30, 2024 1:58pm
Quoting MachineLearn
{quote} Sure. . {image}
Thank you for the details
Just an opinion. Based on research
  • #67
  • Oct 30, 2024 2:46pm Oct 30, 2024 2:46pm
Quoting xkwisit2001
{quote} My broker is IC Markets which is ranked largest broker for volume so I suppose it helps to use them if using.
I, and I assume others, use TV for analysis and then open trades on other platforms, for different reasons.
Those not familiar with TV may not know that you can select a chart on Trading View from different brokers so that was the reason for my quiestion. IC markets supplies a feed for spot gold (and the other majors) for example, so if one selects their chart/feed and then adds the Nova that would seem to be the best option to achieve comparable results to yourself.
Its all just one persons opinion
  • #68
  • Oct 30, 2024 3:10pm Oct 30, 2024 3:10pm
Quoting axecap
{quote} I, and I assume others, use TV for analysis and then open trades on other platforms, for different reasons. Those not familiar with TV may not know that you can select a chart on Trading View from different brokers so that was the reason for my quiestion. IC markets supplies a feed for spot gold (and the other majors) for example, so if one selects their chart/feed and then adds the Nova that would seem to be the best option to achieve comparable results to yourself.
That's a great suggestion Axecap I do mainly use TV for my analysis and entries which are on a separate screen with MT4, with a little search we can find the brokers with the highest volume. IC Markets is one of them and then it can help with getting the best data.

I didn't know IC markets had the most volume so I've been lucky but I've never had issues with the indicator
You can lead a horse to water, but you can't make it drink
  • #69
  • Oct 30, 2024 3:16pm Oct 30, 2024 3:16pm
From my previous posts about the ema, you can choose which EMA to follow to suit your own system. This indicator should and always will be for confluence even though it yields good results on its own but experience is necessary to know when an entry will work or not.

You don't have to wait for the background to change colour with experience but for those who are new it is best to stick to that rule to at least gain consistency in your entries and not stress. Over time thing will get easier which is what happened for me.

Losses or cutting early were an issue for me before but this has helped eliminate that which allows for better learning, intuition and results.

When choosing a strategy or system you need to be comfortable with losses and know that bigger wins are right around the corner.
You can lead a horse to water, but you can't make it drink
  • #70
  • Oct 30, 2024 3:24pm Oct 30, 2024 3:24pm
According to wiki Fx the top 3 by volume are.


IC markets - USD$29 billion
Saxo - USD$20.1 billion
Forex.com - USD$18.6 billion

IG and Pepperstone are around 8 billion each
Average daily Volume

Not sure how much difference it makes which one you use , but maybe getting as much as you can is best.
Anyway I will carry on using IC as I test the Nova.
Its all just one persons opinion
  • #71
  • Oct 30, 2024 3:27pm Oct 30, 2024 3:27pm
I didnt take any of these trades but on GBPJPY alone there were many winners in the past 5 hours alone on the 1m chart.

Yes there will be losses which is normal but generally following the volume will have you a winner.

Best thing to do is test for yourself and see

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You can lead a horse to water, but you can't make it drink
  • #72
  • Oct 30, 2024 3:28pm Oct 30, 2024 3:28pm
Quoting axecap
According to wiki Fx the top 3 by volume are. IC markets - USD$29 billion Saxo - USD$20.1 billion Forex.com - USD$18.6 billion IG and Pepperstone are around 8 billion each Average daily Volume Not sure how much difference it makes which one you use , but maybe getting as much as you can is best. Anyway I will carry on using IC as I test the Nova.
This is the best thing, it works for me but may not work for others when it comes to broker etc... I've never had an issue personally.

Would be interesting to see how this works with futures where its centralised

EDIT: here are some gold futures examples

As ive said, entries can be subjective to the person trading which what makes a trader unique. This system isnt promising riches out of the gate but it is a very good confluence.

YOU NEED TO KNOW MARKET STRUCTURE 100%

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You can lead a horse to water, but you can't make it drink
  • #73
  • Oct 30, 2024 3:31pm Oct 30, 2024 3:31pm
Quoting xkwisit2001
{quote} This is the best thing, it works for me but may not work for others when it comes to broker etc... I've never had an issue personally. Would be interesting to see how this works with futures where its centralised
Are indicies also centralised? S & P 500 etc?
Its all just one persons opinion
  • #74
  • Oct 30, 2024 3:35pm Oct 30, 2024 3:35pm
Quoting axecap
{quote} Are indicies also centralised? S & P 500 etc?
ok no they are not, no volume available
Its all just one persons opinion
  • #75
  • Oct 30, 2024 3:37pm Oct 30, 2024 3:37pm
Quoting axecap
{quote} Are indicies also centralised? S & P 500 etc?
I believe they are but personally I mainly trade gold which is my baby lol

When it comes to indices with forex brokers I dont think they are centralised

I think the key is to find a broker that has the most volume... lucky for me IC markets is so ive been okay
You can lead a horse to water, but you can't make it drink
  • #76
  • Oct 30, 2024 3:42pm Oct 30, 2024 3:42pm
For me the goal was to win more than I lose which sounds cliche but eitherway, any volume is good volume compared to focussing on price alone.

So many times I would lose to manipulation or pullbacks not knowing when is best to enter.

Think of it like 10 kids on a massive swimming pool slide, they all line up and go down (impulse move)... its okay to slide down if they are all half way down as the momentum is there but after they all get to the end they have to walk back up (pullback) lol

As long as you can get the 1:2 or 1:5 you're golden. No point trying to hit home runs.

Home runs can come from getting involved in a higher timeframe move on the 1m or 5m chart.
You can lead a horse to water, but you can't make it drink
  • #77
  • Oct 30, 2024 3:47pm Oct 30, 2024 3:47pm
If anyone wants to use my template on TV you can find it here:
https://www.tradingview.com/chart/X0gPo76g/
You can lead a horse to water, but you can't make it drink
  • #78
  • Oct 30, 2024 3:57pm Oct 30, 2024 3:57pm
EURUSD from the past few hours, again entries are based on experience and knowledge of market structure

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You can lead a horse to water, but you can't make it drink
  • #79
  • Oct 30, 2024 4:37pm Oct 30, 2024 4:37pm
Quoting xkwisit2001
{quote} This is the best thing, it works for me but may not work for others when it comes to broker etc... I've never had an issue personally. Would be interesting to see how this works with futures where its centralised EDIT: here are some gold futures examples As ive said, entries can be subjective to the person trading which what makes a trader unique. This system isnt promising riches out of the gate but it is a very good confluence. YOU NEED TO KNOW MARKET STRUCTURE 100% {image}
Can you set the entry point within the time I marked? Thanks!
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  • #80
  • Oct 31, 2024 3:12am Oct 31, 2024 3:12am
xkwisit2001 thank you very much for this thread. I know you from other thread. I like trend trading and gold 1 or 5 minutes chart too. I will share some example from XAUUSD with in 4 hours for traders. Your indicator work well. Thanks again.
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You can kill children but never their dreams!!!
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