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Trade Using VSA (Volume Spread Analysis)

  • #161
  • Edited 2:03am Mar 21, 2009 1:29am | Edited 2:03am
Quoting thatwasme
Hi, I read through all the stuff on the site and through his Tradestation code and watched both videos. It was all very interesting, so I decided to convert the Tradestation code to MT4 So here is Better Volume for MT4.

To understand how to use it, a person has to watch the 2 short videos.

If you roll your curser over any bar there is a brief name that pops up that tells what the bar represents.

enjoy.
Excellent job Thatwasme.

In regards to banda. There are no vsa indicators per se as you only need volume and price (read the book posted in the resource section of the first post).

What Thatwasme is creating is volume indicators to be able to better visualize the volume we are shown.
The trend always ends.
  • #162
  • Mar 21, 2009 3:51am Mar 21, 2009 3:51am
Quoting thatwasme
Hi, I read through all the stuff on the site and through his Tradestation code and watched both videos. It was all very interesting, so I decided to convert the Tradestation code to MT4 So here is Better Volume for MT4.

To understand how to use it, a person has to watch the 2 short videos.

If you roll your curser over any bar there is a brief name that pops up that tells what the bar represents.

enjoy.
Great work thatwasme!

  • #163
  • Mar 21, 2009 6:08am Mar 21, 2009 6:08am
Really worth watching ..

"The Best of Wyckoff - A taster!"
http://www.tradeguider.com/041008.aspx

WG
  • #164
  • Mar 21, 2009 6:48am Mar 21, 2009 6:48am
It looks all so easy in hindsight doesn't it!
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  • #165
  • Mar 21, 2009 6:56am Mar 21, 2009 6:56am
Indeed it does. Excellent analysis of that chart (even if it was in hindsight)
The trend always ends.
  • #166
  • Mar 21, 2009 7:31am Mar 21, 2009 7:31am
Quoting Willowgal
It looks all so easy in hindsight doesn't it!
Of course!
I would have gone long on any of those bars in that channel since they seemed to be testing on low volume.

Which brings me to stop losses. What do you people use?
I usually use the last swing low (around 100 - 150pips for 30m/1H TF)

Also, do any of you ever scale in whenever you can?
  • #167
  • Mar 21, 2009 9:44am Mar 21, 2009 9:44am
Quoting w37b
Of course!
I would have gone long on any of those bars in that channel since they seemed to be testing on low volume.

Which brings me to stop losses. What do you people use?
I usually use the last swing low (around 100 - 150pips for 30m/1H TF)

Also, do any of you ever scale in whenever you can?

check out time of those bars in channel ..... it was the dead zone .. late asia ... it was likely not accumulation rather just no pros in the market. Friday was option expiry . accumulation really happens at the bottom of a market not really the top.

there is an option expiry Monday at around 138.80. Note the lack of interest in the gj during the Friday us session . GJ looks exhausted at this level and we may well see a drop into 136 / 135 early next week

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Blogging daily now at www.volume.zone
  • #168
  • Mar 21, 2009 11:17am Mar 21, 2009 11:17am
Quoting malcolmb14
check out time of those bars in channel ..... it was the dead zone .. late asia ... it was likely not accumulation rather just no pros in the market. Friday was option expiry . accumulation really happens at the bottom of a market not really the top.

there is an option expiry Monday at around 138.80. Note the lack of interest in the gj during the Friday us session . GJ looks exhausted at this level and we may well see a drop into 136 / 135 early next week

Attachment
Yes ... you are probably right!

Oh well, I am learning
  • #169
  • Mar 21, 2009 11:32am Mar 21, 2009 11:32am
Quoting thatwasme
Hi, I read through all the stuff on the site and through his Tradestation code and watched both videos. It was all very interesting, so I decided to convert the Tradestation code to MT4 So here is Better Volume for MT4.

To understand how to use it, a person has to watch the 2 short videos.

If you roll your curser over any bar there is a brief name that pops up that tells what the bar represents.

enjoy.
Nice port thatwasme.

Better Volume for the NT people...
http://www.ninjatrader-support2.com/...+volume&desc=1
  • #170
  • Mar 21, 2009 11:37am Mar 21, 2009 11:37am
Quoting malcolmb14
GJ looks exhausted at this level and we may well see a drop into 136 / 135 early next week

Attachment
That is what I was thinking also.

Could gap up and re-test the resistance level first ?
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  • #171
  • Mar 21, 2009 1:39pm Mar 21, 2009 1:39pm
Quote
Hi, I read through all the stuff on the site and through his Tradestation code and watched both videos. It was all very interesting, so I decided to convert the Tradestation code to MT4 So here is Better Volume for MT4.

To understand how to use it, a person has to watch the 2 short videos.

If you roll your curser over any bar there is a brief name that pops up that tells what the bar represents.

enjoy.
Great work on coding the better volume indicator!

Here are the basic rules from the video:

Red bar - wide range, high volume (climax bar). Can be seen at beginning of uptrend, end of uptrend., and in continuation of downtrends.

Green bar - low range, high volume (high churn bar). Can be seen at beginning of uptrend, end of uptrend, and continuation of downtrend.

White bar - low volume, high range (low churn bar). Can be seen at bottoms, tops, and continuation of uptrend.

Yellow bar - low volume, low range. Seen at similar places to the low churn bar(white bars).

Magenta bar - Climax volume plus High volume churn - both the conditions are rare.


Topping Patterns:

1) Climax bar (red) followed by high churn bar (green).

2) High churn bar (green) followed by climax bar (red).

3) Low churn bar (white) followed by low volume, low range bar (yellow).

Bottom Patterns:

1) Low churn bar (white) followed by high churn bar (green) then climax bar (red).

2) Low churn bar (white) followed by low volume, low range bar (yellow) then climax bar (red).

3) High churn bar (green) followed by climax bar (red).

Continuation Patterns:

1) Low churn bars (white) as well as low volume, low range bars (yellow) can be a sign of a continuation of an uptrend. Around pullbacks in price.

2) High churn bars (green) followed by climax bars (red) can be a continuation of a downtrend.

Any of these above patterns can have some blue bars (neutral bars) in between the colored bars on your chart. The colored bars will not necessarily happen one right after the other like stated above. They may have some blue bars between the colored bars is all I am trying to say.

Someone please correct me if I am wrong on any points above.

It's also probably easier to download the pdf for future reference.
  • #172
  • Mar 21, 2009 1:58pm Mar 21, 2009 1:58pm
Quote
Originally Posted by Vantage http://www.forexfactory.com/images/buttons/viewpost.gif
[i]Jtrade posted this link on the higher low lower high thread (thanks jtrade), under the emini trading tutorials theres a better vol indi link. Whilst the indi and colours are tradestation specific there are some frequent top/bottom patterns that are shown that may be of interest.

http://emini-watch.com/free-stuff/volume-indicator/

The relationship...

I must say that there are some other indicators on that site that I think are very interesting as well.
  • #173
  • Mar 21, 2009 2:09pm Mar 21, 2009 2:09pm
How hard would it be to have the colored volume bars painted onto the price bars above? Would that be a hard or easy code to write? Just think that it would make the chart easier and quicker to read. What do you guys think?
  • #174
  • Mar 21, 2009 3:04pm Mar 21, 2009 3:04pm
Ok so I thought about it and decided that it would be nice if I go the rest of the way and paint the bars to match the volume. So, here is the indicator. It is actually 2 indicators, because MT4 only support 8 index buffers and I needed 10. So place them both on your chart. Part 1 has the Red Climax bar, the Yellow low bar, the White Low Churn bar.

Part 2 has the Green High Churn, and Magenta Climax High Churn.

So I think that Better Volume and Better Volume ChartBars part1 and Better Volume ChartBars part2 all work well together to give a clearer picture.

I hope you will find this useful
Attached Image (click to enlarge)
Click to Enlarge Name: bettervolumeonchart.gif Size: 25 KB
Attached File(s)
File Type: mq4 BetterVolume ChartBars part1.mq4   5 KB | 6,987 downloads
File Type: mq4 BetterVolume ChartBars part2.mq4   4 KB | 6,750 downloads
  • #175
  • Mar 21, 2009 3:41pm Mar 21, 2009 3:41pm
Hey buddy

Thank you very much. The indicator you posted seems to be good.



Quoting thatwasme
A single indicator does not exist for this method. You must read the book or you will have no clue what this is all about.
BANDA333
  • #176
  • Mar 21, 2009 3:46pm Mar 21, 2009 3:46pm
Quoting thatwasme
Ok so I thought about it and decided that it would be nice if I go the rest of the way and paint the bars to match the volume. So, here is the indicator. It is actually 2 indicators, because MT4 only support 8 index buffers and I needed 10. So place them both on your chart. Part 1 has the Red Climax bar, the Yellow low bar, the White Low Churn bar.

Part 2 has the Green High Churn, and Magenta Climax High Churn.

So I think that Better Volume and Better Volume ChartBars part1 and Better Volume ChartBars part2...
Thanks again ... this is excelent

and thanks for the summary info Scottstone.
  • #177
  • Mar 21, 2009 5:33pm Mar 21, 2009 5:33pm
the title is sound of me laughing head off when I read this article ..

http://www.marketwatch.com/news/stor...192AD8BEB92%7D

lets review the dj and see what is really going on .....

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #178
  • Mar 21, 2009 5:37pm Mar 21, 2009 5:37pm
any esignal programmers in here ... seems similar to mt4 ....

would love to get better volume for esignal
Blogging daily now at www.volume.zone
  • #179
  • Mar 21, 2009 5:40pm Mar 21, 2009 5:40pm
This is great stuff guys and you're a coding genius Thatwasme. I wish I had your talent for coding.


Peace!
  • #180
  • Mar 21, 2009 5:47pm Mar 21, 2009 5:47pm
Quoting malcolmb14
any esignal programmers in here ... seems similar to mt4 ....

would love to get better volume for esignal
I don't use esignal, but I know MT4 Amibroker c++ delphi tradstaion Visual basic and a few archaic languages. If you can point me to a esignal manual, I am sure I can port it over for you.
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