Nova Volume Trading System

Can someone help me explaining what I'm doing wrong, cause I took like 15 trades using the emas as supports but I didnt win a single one.

XAUUSD M1 new trade. TP 2R.

I will break down trading when its really choppy. I just wanted to help get people familiar with the entries.

During choppiness you will find you will take some losses but also some winners which cancel you out. But following market structure it will help when there is a true breakout of the range. Will get onto this shortly.

Are these 3 EMAs 50, 100, 200?

Correct, these are the ones I use. But the indicator is set to use the 200 ema to filter signals.

There are 2 losses there in a row which is normal but your initial entries would have been beforehand which is why I have said it can be subjective based on experience.

You really need to know market structure to know when to enter and then intuition which takes chart experience to get.

Also when you see there is a black/white background with strong volume and then it turns green background that is also indication to enter.

I think now I'm starting to understand it, so I have to use market structure plus the indicator thats what I was doing wrong.Thank you so much for the help.

9 Wins in a row for 18R from the recent gold downtrend on the 1 Minute

Imagine this on a prop account

Glad you're picking it up - you dont even have to enter every single entry. Spoilt for choice on that trend.

What it's helped me do is take every win and every loss without stress even if you think the trend is moving to far down.

Once losses start to arrive it usually means the trend is changing and most times I will try and get a break even if we hit 1:1

Add another 1:2 win - so thats 10 wins in a row from gold downtrend on 1M chart

Another win to add thats 11 1:2's in a row

It would have hit a 1:3 and god knows what the other entries would be on now if they were held till now

You can see from here that you stay out of the market when the background is black (dark mode) or white (light mode)

Same will be for choppy markets but I will get onto that later

For now, check it out on tradingview and get familiar with it

I also do use davit's weekly pivots (indicator attached)

This help with long term targets if you wanted to hold trades. As you can see we just hit the weekly pivot level (yellow lines) so in reality you can use this indicator to help get into trends towards the next pivot levels.



We have also got another win on this gold downtrend so thats 12 1:2's in a row

Where the last circle is that is another confirmation to enter a position to sell which I didnt mark out as a trade

xkwisit2001, when You share MT4 indicator? I really hate TV

If the last circle from the last post was taken we would be hitting 1:2 on that too so 13 1:2's in a row

Have been having trouble with the conversion and some visuals not showing correctly on the MT4 version so I am waiting on a good friend to finish it.

Had issues with how the volume is plotted based on the moving average.

As soon as it is tested and perfect I will drop it on here right away.

For now, you can either use 2 screens or splitscreen tradingview with MT4 like below

Any updates on MT4 version pease?

See above

Sorry I duplicated the question.My aplogies.

Trading choppy conditions:

So I am just going to explain trading during choppy conditions with the indicator.

If price has expanded alot like today with gold you'd have seen we hit 13 1:2 trades in a row before the first loss occurred.

For me, when a loss happens during a downtrend/uptrend it will then make me start focussing on what is happening i.e market structure or key levels.

If I then see a the market seems to be reversing (breaking previous high or lows) I will then start watching what happens without entering.

The indicator will also show you this with a black/white background to sell you not to trade yet.

I will only start to enter any trades when I see the recent low broken in a downtrend or recent high in an uptrend.

In the image below I have marked out the non trade areas and I have also marked out the high and low that needs to be broken to continue.

Rule of thumb, if the 50/100/200 EMA are still above price in a downtrend then I will be cautious.

It makes sense to only take SELL trades that are below the 200EMA and BUY trades when above but with more experience with market structure you will learn to be able to enter earlier... but for beginners I wouldn't advise this till you have enough experience with the structure i.e High highs higher lows, lower highs lower lows.

The indicator is great to help you stay out of the choppy areas by keeping the backgrounds neutral till its time to enter but again.. market structure.

As you can see below, where I marked the red circle on the chart you can see price couldnt break the low so I instead would start buying even though we are below the 200EMA.

The first loss was in the downtrend and then the 2nd was when it was looking like it was reversing... after those 2 losses and being able to work out the high and low that needs to be broken is when you can start entering again.

Also note the background being black most of the pullback which is what will help keep you out.

Once the uptrend is confirmed with a break of the 200EMA with force you can then start following hopefully what will be a new uptrend but just be sure to check higher timeframe trends as it could still be a pullback on the higher TF.

The blue areas marked are the non trade areas.

You can then see once the low couldnt break there were 3 wins in a row.