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Forex Intrday Volume Trading System

  • #181
  • Jan 31, 2009 12:43pm Jan 31, 2009 12:43pm
I'll test it for few weeks in demo account then in live trading. Hope it'll work for me.
  • #182
  • Jan 31, 2009 12:48pm Jan 31, 2009 12:48pm
Quoting EAprogrammer
Good day all,

I don't mind posting videos on trades result from any posted indicator because its now consider public. I am still searching for the different behavior for each pair I tested.

Thanks for interested in the thread
Hi EAprogrammer:

I can begin taping starting with Monday's trading session. Like I stated in my previous post, 5 hours of real time video can be viewed in 1 hour. For even quicker viewing, the videos can also be "cued" up to any specific important points by stopping the video and using the progress slider. I'm not sure how much time you have on your hands, but if you can occasionally view some of them and then comment on the trade setups it would be really helpful. Maybe anyone else who has a good basic understanding of the indicator could chime in as well.

So we're all on the same page, please let me know what broker platform you will be using and if there is a specific currency pair you will be testing (one or two pairs).

Regards,

CA1962
  • #183
  • Feb 1, 2009 3:02pm Feb 1, 2009 3:02pm
Here is the Max Total, Max Buy and Max Sell level for previous week Jan25-Jan30

USDCAD: 1.2214 1.2231 1.2214
GBPUSD: 1.4311 1.4229 1.4314
EURUSD: 1.3243 1.3245 1.3243
AUDJPY: 58.97 58.94 58.95
USDJPY: 89.19 89.17 89.20
GBPJPY: 127.38 127.10 127.31
CHFJPY: 79.33 78.33 78.34
EURJPY: 117.50 117.50 117.52
NZDJPY: 47.07 47.07 47.07

Look for these major support and resistance this week.
If everyone believes it, it will work.
  • #184
  • Feb 1, 2009 9:55pm Feb 1, 2009 9:55pm
Quoting EAprogrammer
I'm glad you make the point, when price rally or dove, and if no new MB/MS changes, will drop back to when it started.

Happy trading.
Looks like an interesting volume indy you got there, I'm sure it will get even better as you add improvements to it...
  • #185
  • Feb 2, 2009 3:13am Feb 2, 2009 3:13am
Quoting EAprogrammer
Here is the Max Total, Max Buy and Max Sell level for previous week Jan25-Jan30
...

Look for these major support and resistance this week.

Hi EAProgrammer,

First of all, great job and thumbs up.

I just had some thoughts I wanted to share.

First, isn't it possible to maybe use an external file to save the weekly data to. Then you could use that file to draw the weekly max'. (Maybe one external file per symbol, so everybody only has weekly files of the currencies he/she is looking at.)

Secondly, is it really necessary to use gmt 00 as a starting point? Have you tried to test it with a random starting point (and ofcourse initialisation of all variables at that point) to see wether it gives you the same feel or not?
Cause i think (don't know if i'm right ofcourse) it can maybe have different levels but it will still depict the moments where price takes off without changing buy or sell levels (and will probably change direction again) or moments where sell and buy levels become equal again (and price will take off in the direction of that move).

I'm always willing to help you test this if you want to.

Regards, Dariuske.
  • #186
  • Feb 2, 2009 4:05am Feb 2, 2009 4:05am
Hey,

Concerning my second thought,

I've monitored the indi for the past hour and it seems to me that it is usable as i mentioned in my post above. It started collecting data from 9am (gmt+1) and it started giving max, buy and sell levels after a while that were good as useable trading indications.

What i noticed in this hour of observation is that it does behave in the same way as it is started at 00hours (gmt+0) only with different levels (probably).

There is only one mistake i made , i just switched from 1m to a 5m time frame, which reinitialised the previous gathered data. So for all who want to use this indi, please don't change the timeframe of the window the indicator is in, cause it will reset your collected data!

Regards, Dariuske.
  • #187
  • Feb 2, 2009 6:55am Feb 2, 2009 6:55am
Here is a pic of my observation of the BMC volume indicator.

I started this session only at 11am (gmt+1) not at 00am (gmt+0).
When the rally (that started at 12:37 (gmt+1)) began, the indicator portrayed all prices around 1.2740.
During the rally, it didn't accumulate or change any of the prices.
So as a result, price came back down and the indicator still hasn't changed. (Although it did change a couple of times before the rally began. So it did work! )

Have a nice day, Dariuske.
Attached Image (click to enlarge)
Click to Enlarge Name: BMC-Volume.GIF Size: 19 KB
  • #188
  • Edited 3:33pm Feb 2, 2009 12:59pm | Edited 3:33pm
EAprogrammer,


I am very confused by your explanations in your trades. You explain your trades in terms of Max Sell @123.43, Max Buy @123.00. But when I look at your indicator I see the following lines: BMC Max price, BMC Buy price, BMC Sell price, and BMC current price.

It would help me considerably if you would use the terms on your indicator because I'm not sure if Max Sell price is the same as BMC sell price or something else.


Thanks
Dallas
  • #189
  • Feb 2, 2009 2:10pm Feb 2, 2009 2:10pm
Quoting dariuske
Here is a pic of my observation of the BMC volume indicator.

I started this session only at 11am (gmt+1) not at 00am (gmt+0).
When the rally (that started at 12:37 (gmt+1)) began, the indicator portrayed all prices around 1.2740.
During the rally, it didn't accumulate or change any of the prices.
So as a result, price came back down and the indicator still hasn't changed. (Although it did change a couple of times before the rally began. So it did work! )

Have a nice day, Dariuske.
Hi Dariuske:

This same scenario happened today with GBP/JPY and GBP/USD (actual price dropped several hundred pips while BMC Buy and Sell levels stayed the same. Price eventually moved back up to BMC Buy/Sell levels).

You seem like you understand the indicator. Using your screenshot example, what would have been your "trigger" to enter short after the price topped out around 1.2800 (while the BMC Buy Price and BMC Sell Price stayed at 1.2740/1.2738)? EAprogrammer, if you care to comment it would be greatly appreciated.

Regards,

CA1962
  • #190
  • Feb 2, 2009 11:29pm Feb 2, 2009 11:29pm
Greetings,

Still trying to get my head around this interesting indicator. Can we please increase the size of the type in the BMC lines, I really have a problem reading them because they are so small.


Thanks
Carl
  • #191
  • Feb 3, 2009 2:07am Feb 3, 2009 2:07am
Greetings,


I've been experimenting with the stability and data integerity of the indicator, I could be wrong or maybe I just dont understand how it works. But it was stated earlier that the indicator resets at 00:00 GMT. Now from that point it stores all tick data so it doesnt matter what time frame your on.

Well I decided to let the indicator reset and at about 09:30 GMT (9 hours later) I decided to alternate between two periods 1min and 15min every 10 secs are so. Well what I expected to see was no change in price, with a consistent elevation in ticks (since its storing all ticks irrelevent of time frame), this didnt occur. On each cycle not only was the price moving, but to my surprise the volume was randomly changing. Each time I went to the 1 min or 5min period respectively there was no logical explanation for what I was seeing. For example each time I would go to the 1min period on each cycle all four volumes would change and instead of going up in value each 10 second cycle sometimes volumes would go up, other times volumes would go down, sometimes they all would reset to zero. So from my oberservation, changing periods will give you different data!!! So either its randomly resetting when the periods are changing, or something else is going on.

I'm also not seeing different colored lines, I currently have 4 lines on my indicator and they are all red.

Thanks
Dallas
  • #192
  • Feb 3, 2009 3:02am Feb 3, 2009 3:02am
Hi EA Porgrammer,

thanks for sharing your volume indicator. I just found this thread.
it's really something of great importance to look for volumes and I am very thankful for having this special tool on my charts.

I will have a good look at it.
thanks again!
Trading S/R with PA only. No indicators anymore!
  • #193
  • Feb 3, 2009 3:11am Feb 3, 2009 3:11am
Quoting CA1962
Hi Dariuske:

...
You seem like you understand the indicator. Using your screenshot example, what would have been your "trigger" to enter short after the price topped out around 1.2800 (while the BMC Buy Price and BMC Sell Price stayed at 1.2740/1.2738)?
Hey CA,

I think that is something that every trader has to find out for himself.
Some people will maybe use a ma-crossover for this. Others will want to use price trend breaks. And again others will find something else better to help them decide when to jump in that trade.

I haven't decided that yet for myself, cause i want to observe it a bit longer first.

Regards, Dariuske.
  • #194
  • Feb 3, 2009 9:01am Feb 3, 2009 9:01am
Quoting Dallas4lr
Greetings,


I've been experimenting with the stability and data integerity of the indicator, I could be wrong or maybe I just dont understand how it works....
I think EAProgrammer mark the line manually every some period according to movement volume line, but if the BMC do many movement (specially lower TF) its makes difficult to following. So far i like to use BMC lines as trigger entry point but not as exit.
  • #195
  • Feb 3, 2009 10:39am Feb 3, 2009 10:39am
Hi ea pro..,

Do you have news or update about your interesting indicator?
Im testing your indi from fie days and i was able to make good trades but some time i dont undestand maybe have some bugs?
Do you found something wrong?

Thank you for your hard work
  • #196
  • Edited 3:35am Feb 4, 2009 3:00am | Edited 3:35am
Greetings,


I tried the indicator on another computer different broker with the same results. I really like the concept behind this indi, but even before we develop solid rules, the indicator definitely needs to be fixed because right now it isnt stable.


Thanks
Dallas
  • #197
  • Feb 5, 2009 7:01am Feb 5, 2009 7:01am
Greetings,

I've been observing this indicator for 4 days now. I've been focusing on the BMC current price and there appears to be another strange anomaly. When looking at the buy volumes vs sell volumes, the sell volumes is almost always less then the buy volume, even when a currency pair is in a strong downtrend!!!! How can this be??? After 4 days of observing the indicator on various pairs, different computers, and 4 different broker feeds I have only seen two instances where the sell volume was greater then the buy volume on the BMC current line, and in both cases the buy volume was 0 and the sell volume was 5 or less.

I'm really scratching my head here, maybe an explanation on a more detailed level of what the coding is suppose to be doing would help. But surely you would think that you would have a reasonable amount of times where the sell volume exceeds the buy volume!!!!


Thanks
Dallas
  • #198
  • Feb 5, 2009 7:48am Feb 5, 2009 7:48am
Quoting Dallas4lr
Greetings,

I've been observing this indicator for 4 days now. I've been focusing on the BMC current price and there appears to be another strange anomaly. When looking at the buy volumes vs sell volumes, the sell volumes is almost always less then the buy volume, even when a currency pair is in a strong downtrend!!!! How can this be??? After 4 days of observing the indicator on various pairs, different computers, and 4 different broker feeds I have only seen two instances where the sell volume was greater then the buy volume on...
Hi Dallas:

You're right, and I was wondering about that myself. Also, if you notice the BMC "Max" Buy Price and BMC "Max" Sell Price, the buy volume is always larger than sell volume even when the price is moving down in a strong downtrend. If you go back and look at all of the screenshots posted here, you will see what I mean. Doesn't seem logical. Maybe EAprogrammer can explain it.
  • #199
  • Feb 5, 2009 10:03am Feb 5, 2009 10:03am
Yes is true i saw current buy vol more bigger than sell vol from the first time also buy level have alwais more volume than sell level.
Maybe i dont think correct but this is what i saw:
Of course the stronger chart partner is when buy/sell levels are at the same price and you will have max price volume of that moment too.
At this point you can see where the bar will close above/belove this level for see the direction of the trend. Better is to wait for retest this level but many time is to late because in this situation the price jump like spike than will turn back to the start.
The second partner is when buy/sell levels have only fie pips betwen and you can see at top left of the chart who have max volume in that moment if buy level look for go long if the bar close above this level if sell level look fo go short if the bar close belove this level if no one of the 2 levels have max volume at the same price for me is not strong.
Many time you will see sell level above buy level and this is bad i think because seller dont have free way for go short and buyer dont havr free way for go long better see buy level above sell level for take decision.

Sorry for my english i hope is clear my concept,however is much better if Ea Programmer came in and write something.
Thank you...
  • #200
  • Feb 5, 2009 8:09pm Feb 5, 2009 8:09pm
Quoting CA1962
Hi Dallas:

You're right, and I was wondering about that myself. Also, if you notice the BMC "Max" Buy Price and BMC "Max" Sell Price, the buy volume is always larger than sell volume even when the price is moving down in a strong downtrend. If you go back and look at all of the screenshots posted here, you will see what I mean. Doesn't seem logical. Maybe EAprogrammer can explain it.
I second that...
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