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Learn to Trade using VSA (Volume Spread Analysis)

  • #561
  • Mar 5, 2009 1:35am Mar 5, 2009 1:35am
Quoting thatwasme
Here is my first contribution to this thread. This indicator will place a yellow bar on a defined NARROW bar and a Aqua bar on a defined WIDE bar. all others are average.

Enjoy. I also wrote the volume indicator a little differently to check if the current volume bar is the greatest or weakest within the last 2 bars back from the current. Green is greater and red is weaker and yellow is neutral.

I also put the spread indicator in a separate indicator that can be applied on top of the Volume indicator so it will scale correctly in all time...
What can I say.....thatwasme you rock
I strongly suggest to everybody here to ditch mine indicators(except v4),
cos they are simply better than mine!!!

Thanks bro
forexflash
  • #562
  • Edited 2:19am Mar 5, 2009 2:07am | Edited 2:19am
Quoting thatwasme
Here is my first contribution to this thread. This indicator will place a yellow bar on a defined NARROW bar and a Aqua bar on a defined WIDE bar. all others are average.
I noticed you put a 50 value to measure an average bar as a default. What will you suggest a value for an average bar at Cable 1H TF ?
  • #563
  • Mar 5, 2009 3:00am Mar 5, 2009 3:00am
Quoting Mini J
I noticed you put a 50 value to measure an average bar as a default. What will you suggest a value for an average bar at Cable 1H TF ?
I do not know. The reason I put 50 is because of the concept that you have to look back through history 50 bars or so. This is why I made it an adjustable input, so you could experiment with it.
  • #564
  • Mar 5, 2009 3:04am Mar 5, 2009 3:04am
Hi All,

Would this have been considered an UPTHRUST bar on the GBPUSD 15M

Any help would be appreciated

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 25 KB
  • #565
  • Mar 5, 2009 3:22am Mar 5, 2009 3:22am
Quoting wallst500
Hi All,

Would this have been considered an UPTHRUST bar on the GBPUSD 15M

Any help would be appreciated

Thanks
Looks like an Up thrust to me. See that price was halted and is moving sideways.
  • #566
  • Mar 5, 2009 3:30am Mar 5, 2009 3:30am
The UPTHRUST bar seems to have worked out.... VSA rules

The price I shorted also corresponded almost exactly with my H4 & H1 fib retracement levels, giving a little extra confirmation

Up +22pips and SL at b/e+1.

Will watch further VSA action carefully

Thanks for the great thread guys
  • #567
  • Mar 5, 2009 3:39am Mar 5, 2009 3:39am
Quoting wallst500
Hi All,

Would this have been considered an UPTHRUST bar on the GBPUSD 15M

Any help would be appreciated

Thanks
I think so, here's what I posted in another thead - sorry I was late in posting here - I got busy analysisng and trading.....

The hourly MAs have now reversed to long, with is a positive sign. However, the candles up to todays high on both the 5m, 15 and 30min charts were on high volume with long up-side wicks which indicates that sellers were active.

We have the BOE rates announcement later this morning, with a further 0.5% cut anticipated.

and

My earlier short trade was a wash as The Brits pushed cable up hard. I took a buy as price exploded up out of decision zone and I exited at the 4225 level, where I also went short.

This could be a Big Ben fake-out move that has allowed the professionals to get short around the 4200 level - I'll be adding to my shorts once I'm convinced that this is the case.....

What I was going to post here was that I was viewing the push above the 4200 level as distribution of the professionals longs from the 3950-4000 level purchased over the last 3 days and also accumulation of new short positions before a fresh push down.

__________________
Trading Levels with WRBs
  • #568
  • Edited 4:03am Mar 5, 2009 3:50am | Edited 4:03am
Thanks for the reply Islander,

great insight

Cheers

FOREXflash, thatwasme and NYSE1982 thank you for the excellent information and indicators...it is very much appreciated
  • #569
  • Mar 5, 2009 5:38am Mar 5, 2009 5:38am
Excellent result from the previous UPTHRUST bar on GBPUSD 15M

+101pips

I probably still closed a bit early, but I am still learning and GBP interest rate is imminent (don't feel like risking 100pips right before major news)

VSA really seems to be the key to the mint, after all it is following what the big boys are doing.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #570
  • Mar 5, 2009 7:05am Mar 5, 2009 7:05am
Is probable a reverse?

Lubo.

P.s. This is not a raccomandation, it' only my view.
Trade at your on risk.
Attached Image (click to enlarge)
Click to Enlarge Name: 6B 03-09 05_03_2009 (3 Min).png Size: 150 KB
If I know how, I tell You!! Few but Good!!
  • #571
  • Mar 5, 2009 7:35am Mar 5, 2009 7:35am
Quoting LuboLabo
Is probable a reverse?

Lubo.

P.s. This is not a raccomandation, it' only my view.
Trade at your on risk.
Would'nt you want to see rather more volume around the lows before considering a reversal?

Yesterday on this chart there were numerous volume bars in the 100 to 150 range, so far today there are many fewer....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #572
  • Edited 7:59am Mar 5, 2009 7:53am | Edited 7:59am
Quoting Islander
Would'nt you want to see rather more volume around the lows before considering a reversal?

Yesterday on this chart there were numerous volume bars in the 100 to 150 range, so far today there are many fewer....
I don't speack about volume bars, but about Volume at price.

Lubo.
Attached Image (click to enlarge)
Click to Enlarge Name: 6B 03-09 05_03_2009 (3 Min)_1.png Size: 123 KB
If I know how, I tell You!! Few but Good!!
  • #573
  • Mar 5, 2009 8:30am Mar 5, 2009 8:30am
Quoting LuboLabo
I don't speack about volume bars, but about Volume at price.

Lubo.
Exactly, the highest volume was on the ultra wide range news candle and IMO represented the triggering of multiple stops as price first spiked up ~50 pips - sufficient to take out many stops - and then down ~90 pips taking out the downside stops, making it IMO impossible to assign volume to any specific price - or any group of traders except perhaps the inexperienced!

The subsequent bars around the 4050 level were on lower volume, thus my question is as to how much value you are able to place on those subsequent volumes?

Edit: I'm asking 'cause I'm uncertain as to how with our current tools we can account for the cumulative volume that I think you are refering to.
Trading Levels with WRBs
  • #574
  • Mar 5, 2009 8:49am Mar 5, 2009 8:49am
My trades since 8:30 GMT. I do not trade the open, because I do not like the action. I normally just trade a pure Wyckoff method, but I am rapidly liking this addition and am looking at charts again after all this time. LOL
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  • #575
  • Mar 5, 2009 8:54am Mar 5, 2009 8:54am
Quoting Islander
Would'nt you want to see rather more volume around the lows before considering a reversal?

Yesterday on this chart there were numerous volume bars in the 100 to 150 range, so far today there are many fewer....

1.4000 can be tested on low volume as it is resistance.... it means that the pros are not in the down move , and the market is testing support on low volume. a few more tests like this and I would think that pros are trying to dry up supply in this area before a decent move up

on a 5 min chart we had high vol on the down move met buyers on the next candle ... this was stopping volume as volume showed buyers still sitting at 1.4000 zone
Blogging daily now at www.volume.zone
  • #576
  • Mar 5, 2009 9:01am Mar 5, 2009 9:01am
Quoting Islander
Exactly, the highest volume was on the ultra wide range news candle and IMO represented the triggering of multiple stops as price first spiked up ~50 pips - sufficient to take out many stops - and then down ~90 pips taking out the downside stops, making it IMO impossible to assign volume to any specific price - or any group of traders except perhaps the inexperienced!

The subsequent bars around the 4050 level were on lower volume, thus my question is as to how much value you are able to place on those subsequent volumes?
Volume at price isn't measured by only one candle, I speak about daily and weekly volume at price (daily for that moment), you aren't able to see it with mt4 brokers quotation.
I use quotation from futures because they show me the true contracts volumes.
I believe that we are talking about different things.

Lubo.

P.s. That my post was just an assumption, perhaps premature too, nothing more.
If I know how, I tell You!! Few but Good!!
  • #577
  • Mar 5, 2009 9:12am Mar 5, 2009 9:12am
Now price are sideway, making a new high volume of the day.
I'm waiting for a probable reaction from this level.

Lubo.
Attached Image (click to enlarge)
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If I know how, I tell You!! Few but Good!!
  • #578
  • Mar 5, 2009 9:13am Mar 5, 2009 9:13am
Quoting malcolmb14
1.4000 can be tested on low volume as it is resistance.... it means that the pros are not in the down move , and the market is testing support on low volume. a few more tests like this and I would think that pros are trying to dry up supply in this area before a decent move up

on a 5 min chart we had high vol on the down move met buyers on the next candle ... this was stopping volume as volume showed buyers still sitting at 1.4000 zone
Hi Malcolmb - good to see you putting in some time on cable rather than just GJ

Mmm, I have 1.4000 as support, being a higher low from Tuesday and yesterday and now I can see another higher low after the BOE rates cut.

Which 5m candle are you refering to - how many ago please?

Regards

Islander
Trading Levels with WRBs
  • #579
  • Mar 5, 2009 9:16am Mar 5, 2009 9:16am
Quoting LuboLabo
Volume at price isn't measured by only one candle, I speak about daily and weekly volume at price (daily for that moment), you aren't able to see it with mt4 brokers quotation.
I use quotation from futures because they show me the true contracts volumes.
I believe that we are talking about different things.

Lubo.

P.s. That my post was just an assumption, perhaps premature too, nothing more.

OK thanks, I'm trying to get further into the cumulative effect, which I guess is difficult in MT4 - any ideas out there?

PS I am long off the higher lows....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #580
  • Mar 5, 2009 9:23am Mar 5, 2009 9:23am
Quoting thatwasme
My trades since 8:30 GMT. I do not trade the open, because I do not like the action. I normally just trade a pure Wyckoff method, but I am rapidly liking this addition and am looking at charts again after all this time. LOL
My, my. Look at all the Pip Masters (those with 1-10 "V" Vouchers next to their names) jumping onboard with this thread and posting amazing trades! Hummm...can't trade forex tick volume successfully, huh naysayers? Maybe the world isn't flat and the maybe the heavens don't revolve around the earth afterall.

Your indi's rock Thatwasme - thank you!!!

Maybe we should start a trading club called the "Shark Hunters"?
- Bowen (a.k.a. Wolf)
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