Trade Using VSA (Volume Spread Analysis)

thank you Thatwasme for your work i compare better volume on mt4 whit better volume on nt and i can see this the indi on nt work much better than mt4

http://www.esignalcentral.com/univer...pt/default.asp

here is code for daily pivots with r1/r2 etc for example


/******************************************************************************************
Copyright eSignal, a division of Interactive Data Corporation. 2005. All rights reserved.
This sample eSignal Formula Script (EFS) may be modified and saved under a new filename;
however, eSignal is no longer responsible for the functionality once modified.
eSignal reserves the right to modify and overwrite this EFS file with each new release.
@version 3.0 by Alexis Montenegro for eSignal
*******************************************************************************************/

function preMain() {
setPriceStudy(true);
setStudyTitle("Pivot Points");
setCursorLabelName("PP-R2", 0);
setCursorLabelName("PP-R1", 1);
setCursorLabelName("PP", 2);
setCursorLabelName("PP-S1", 3);
setCursorLabelName("PP-S2", 4);
// R2
setDefaultBarStyle(PS_DASH, 0);
setDefaultBarFgColor(Color.RGB(255,0,0), 0);
setDefaultBarThickness(2, 0);
// R1
setDefaultBarStyle(PS_DOT, 1);
setDefaultBarFgColor(Color.RGB(0,0,255), 1);
setDefaultBarThickness(3, 1);
// Pivot Point
setDefaultBarStyle(PS_SOLID, 2);
setDefaultBarFgColor(Color.RGB(0,0,0), 2);
setDefaultBarThickness(3, 2);
// S1
setDefaultBarStyle(PS_DOT, 3);
setDefaultBarFgColor(Color.RGB(0,0,255), 3);
setDefaultBarThickness(3, 3);
// S2
setDefaultBarStyle(PS_DASH, 4);
setDefaultBarFgColor(Color.RGB(255,0,0), 4);
setDefaultBarThickness(3, 4);
}

var bInit = false;
var xHigh = null;
var xLow = null;
var xClose = null;
var vPP = null;
var vR1 = null;
var vS1 = null;
var vR2 = null;
var vS2 = null;

function main() {

if(isMonthly() || isWeekly())
return;

if(bInit == false){
xHigh = high(inv("D"));
xLow = low(inv("D"));
xClose = close(inv("D"));
bInit = true;
}

var vHigh = xHigh.getValue(-1);
var vLow = xLow.getValue(-1);
var vClose = xClose.getValue(-1);
if(vHigh == null || vLow == null || vClose == null)
return;

vPP = (vHigh+vLow+vClose)/3;
vR1 = 2*vPP-vLow;
vS1 = 2*vPP-vHigh;
vR2 = (vPP-vS1)+vR1;
vS2 = vPP-(vR1-vS1);

return new Array(vR2, vR1, vPP, vS1, vS2);
}

Which platform do you use for mt4-test?

fx pro for mt4

try interbank mt4 ... with this indicator on chart .

If you get a better volume indicator around a daily fib pivot , think about what it means .... take trade with 30 pips stop under or above ( depending if going long or short) daily fib pivot level

friday US session vertical lines could have been 300 ...YES 300 PIPS to bge made using better volume triggers and daily fib pivot ,

obviously most of the trades were with the trend and buying dips , other than when we got a clear double top

Thanks for the answer.Where did you find nt version of the better Volume indicator ?

on nt forum...

Thank you for your help!

Thatwasme,

If I am not mistaken the highlighted bar & volume should be shown as red color (climax volume) right?

This is an interesting & fruitful thread for VSA. Thanks everyone for great contributions.

I have updated the first post of the thread with the new better volume indicators for MT4 (graciously provided/coded by thatwasme) and usage notes compiled by scottstone.

If anyone else has added anything that I missed please let me know so I can keep everything updated on the first post.


Thanks and enjoy.

EDIT:

PS: I am in the process of compiling a list of VSA terms and definitions as well. If Malcolm or any of the other VSA gurus could provide some screen shots of the most common VSA signals to go along with my text here, or via PM I'd appreciate it.

Thanks in advance.

Hmm. Sounds like you should stick with your NT instead of fxpro mt4.

Sorry you did not like it.

It is correct on my chart. I cannot say what the problem is from your broker.

The code is a direct port over.

The USDJPY 1 hour chart showed is my interbankfx live mini account. Anyone has this problem?

Thatwasme, may I know what is the broker you use?

IBFX Live 1Hour standard account.

I'll take a closer look tomorrow on it, but mine is charting correctly

It shows correctly here (ibfx) I use IBFX demo though so maybe a slight difference but it seems it should display correctly regardless.

Unfortunately, I have the same problem. I'm with FXDD so I don't know if this has something to do with it? I notice Thatwasme is with Interbank.

I noticed that many of the buy and sell signals posted in the thread are identical to the ones in an ebook called tradinginthebuff...I just thought it was interesting because tradinginthebuff teaches you to trade without indicators, include volume and fibonacci, etc.

I think I know what might be happening...

Likely your chart is set to foreground and down bar color is set to white.

Try setting down bar color to none to test. If that fixes it you will need to edit your chart preferences to have chart in background. (uncheck chart in foreground) in common tab of chart preferences.

That should fix it as I am fairly certain this is the problem.

EDIT: Actually that isn't likely the problem now that I look at the chart again Not sure. Wait for thatwasme to respond back after investigating.

Chart patterns with nothing else are meaningless. For every setup you show that worked... you will find others that didn't. Why is that? Once you begin to understand volume and how it relates to price movement you will find the answer.

If you start to match these patterns with volume analysis then you start to see why volume is so important.

volume is not an indicator .. it is what drives the market . volume and price are what make up candles and three candles patterns.