Auslanco - GBP/JPY and GBP/USD (newstrade)
I don't know, but I do know that i saw divergence on the lower time frames when the spike ocurred, a signal for me to , cover longs or a reverse scalp.
Also, I find that big moves tend to follow a volume increase.
hello godfrey do you mind to share your volume spike indicator?
Thanks
loooooooooooool hot curry flavor then
way to go lilmoe
If I follow you my little bag of tricks will soon be empty, anyway here's the indicator.
You can check and see what happens when you see a volume spike. Timeframes to check: 1,5 , 15 and 30 min. Forget the longer timeframes.
If a spike occurs in the 5 min, it doesn't necessarily occur in the 15 min etc. A spike can occur at anytime that's why I have the alert.
The indicator checks the current volume and compares it with an avergae of the volume {n} periods previously.
the logic behind it is pretty reasonable, but you have to take care. often you can expect a stall of the move, or even directional turn after you spot something like this, but it can also mean continuation, because taking out an old top often produces high vol with shorts sitting there, selling into the upmove which pro's want to keep on going.
it is not from roy didlock. funny, how fast this thing spreads
but stick to forwarding it on a PM basis please, if you want to.
ah .. yes I just looked and found out I was wrong. Do you know how is the author? BTW can you tell me if it's useful; if you've studied it yourself?
Actually It is not important who wrote it I just want to be sure it tells what I must know about volume spread analysis.
PM basis forwarding ... sure!
i've read some books about vsa, but that's most to the point. my whole trading is based on the principles explained in it, but it needs time to get a grasp of it..but the best thing u can do.
