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Trading using Murray Maths and Price Action

  • #1,961
  • May 30, 2009 10:08pm May 30, 2009 10:08pm
Quoting Horn
Karthik,
Where can we get the vol indicator you used. also what does the various colours in the volume indicator shows?
the volume indicator is the better colume indicator taken from the vsa thread run by shamusfamous...

as for the colors, though each color has it own meaning (which u can see by placing ur mouse on the bar), i just see the relative size of bars rather than pay too much attention to its color...
  • #1,962
  • May 31, 2009 12:34pm May 31, 2009 12:34pm
You can get better volume indicator for tadestation from e-mini watch.com (free) also explains how to use it effectively
  • #1,963
  • May 31, 2009 1:32pm May 31, 2009 1:32pm
Quoting dart
You can get better volume indicator for tadestation from e-mini watch.com (free) also explains how to use it effectively
thanks dart for the information...waiting for another interesting week of trading.....hopefully we should be in full flow tomorrow...
  • #1,964
  • May 31, 2009 11:12pm May 31, 2009 11:12pm
as expected, GJ looking very weak today.....EJ though not as weak but will fall...UJ is also likely to fall...
  • #1,965
  • May 31, 2009 11:38pm May 31, 2009 11:38pm
The Murrey Math concepts were easy to grasp. But Price Action, what exactly did that mean?

Well Karthik, with your explanation today on how to use Volume to determine trends has made this clearer to me.

Many thank for adopting the concept of "Give a man a fish and you feed him for today. Teach a man to fish and you feed him for a lifetime". I am sure I am not the only one that feels thankful.
non si dimentichi mai
  • #1,966
  • Jun 1, 2009 12:03am Jun 1, 2009 12:03am
Quoting plus50
The Murrey Math concepts were easy to grasp. But Price Action, what exactly did that mean?

Well Karthik, with your explanation today on how to use Volume to determine trends has made this clearer to me.

Many thank for adopting the concept of "Give a man a fish and you feed him for today. Teach a man to fish and you feed him for a lifetime". I am sure I am not the only one that feels thankful.
thanks mate...but remember...PA is very difficult to master as there are umpteen number of combination of patterns that are possible and each one has a meaning...so its not a simple 1-2-3 leads to 4 kind of combination....but the reason why we need to try and master this difficult concept is cos this is the only concept that works at all times...
  • #1,967
  • Jun 1, 2009 12:17am Jun 1, 2009 12:17am
Quoting ns_karthik
PA is very difficult to master as there are umpteen number of combination of patterns that are possible and each one has a meaning...
... and the umpteen combinations are learnt only through the school of hard knocks!

Please keep posting different pattern scenarios that seem significant, the GBP/JPY example from last week was a great learning tool, whenever you get time that is
non si dimentichi mai
  • #1,968
  • Jun 1, 2009 12:21am Jun 1, 2009 12:21am
For those that are still looking for this, the indicator is attached.
Attached File(s)
File Type: mq4 BetterVolume 1.4.mq4   5 KB | 729 downloads
non si dimentichi mai
  • #1,969
  • Jun 1, 2009 9:40am Jun 1, 2009 9:40am
Karthik,

Please look at the attached 5min EUR/USD, the strong volume indicator (Red bar) I took to mean resumption of the bullish move.

It went to 1.4220 range and then dropped down to 1.4150 range. Were there any sign that I missed or mis-read?
Attached Image (click to enlarge)
Click to Enlarge Name: 5min_eu.gif Size: 39 KB
non si dimentichi mai
  • #1,970
  • Jun 1, 2009 9:59am Jun 1, 2009 9:59am
Quoting plus50
Karthik,

Please look at the attached 5min EUR/USD, the strong volume indicator (Red bar) I took to mean resumption of the bullish move.

It went to 1.4220 range and then dropped down to 1.4150 range. Were there any sign that I missed or mis-read?
i really dont know how u could consider that red bar as a reumption of the trend?? it hit a resistance in that bar and closd below....a clear indication of a bearish down move...
  • #1,971
  • Jun 1, 2009 10:26am Jun 1, 2009 10:26am
Quoting ns_karthik
i really dont know how u could consider that red bar as a reumption of the trend?? it hit a resistance in that bar and closd below....a clear indication of a bearish down move...
I think those were sellers getting in.... Correct me if I am wrong Karthik....
  • #1,972
  • Jun 1, 2009 10:54am Jun 1, 2009 10:54am
I took the trade looking at 1min chart, the one minute candle finished at on its high and was accompanied by the high volume.

I posted 5 mins and that shows a better picture of developing trend. I noted your GBP/USD example was 15min TF. In your experience Karthik, what the best time frame for assessing trends using MML and Volume based price action?
non si dimentichi mai
  • #1,973
  • Jun 1, 2009 12:19pm Jun 1, 2009 12:19pm
Quoting plus50
I took the trade looking at 1min chart, the one minute candle finished at on its high and was accompanied by the high volume.

I posted 5 mins and that shows a better picture of developing trend. I noted your GBP/USD example was 15min TF. In your experience Karthik, what the best time frame for assessing trends using MML and Volume based price action?
it depends on what kind of a trader u r and how many pips u r looking for...PA works well in all TFs...so if u r looking for a quick 20-30 pips, then u can trade the 5M and 15M while u can also trade the 4H and 1D if u r looking for hundreds of pips..
  • #1,974
  • Jun 1, 2009 12:20pm Jun 1, 2009 12:20pm
Quoting Pahadi
I think those were sellers getting in.... Correct me if I am wrong Karthik....
absolutely right mate/....
  • #1,975
  • Jun 1, 2009 4:44pm Jun 1, 2009 4:44pm
Quoting plus50
Karthik,

Please look at the attached 5min EUR/USD, the strong volume indicator (Red bar) I took to mean resumption of the bullish move.

It went to 1.4220 range and then dropped down to 1.4150 range. Were there any sign that I missed or mis-read?

The red bar in BV is a climax bar can sometimes be followed by weakness if it is happening in a strong uptrend (A final push by smart money during markup). The colors are just a guide... you need to understand what the colors can mean based on certain patterns in VSA. Keeping in mind BV is not pure VSA as well.

Quoted from the usage guide
Quote
Market tops are also characterized by Volume Climax Up bars often with High Volume Churn and/or Low Volume test patterns.
The trend always ends.
  • #1,976
  • Jun 1, 2009 10:57pm Jun 1, 2009 10:57pm
To have a better understanding of how Better Volume Indicator works, check out http://emini-watch.com/free-stuff/volume-indicator/
  • #1,977
  • Jun 2, 2009 6:31am Jun 2, 2009 6:31am
some people may want to use an oscillator or macd to keep track of pending turns shown by divergences.

I know that adds another indicator to the chart... however it may be worth the clutter
Attached Image
  • #1,978
  • Jun 3, 2009 1:13am Jun 3, 2009 1:13am
Another question for you Karthik,

See the high volume bar and the accompanying candle, the one with the rectangle around it.

The candle, shows a price increase yet the closing price is much less than half of that 5 min period max. Therefore price action would indicate that despite the modest price increase there was significant selling.

But price went up significantly after this.

How would you have read that volume bar and corresponding candle?

BTW, I sat on the sidelines because of this and changed my mind about going long on GU.
Attached Image (click to enlarge)
Click to Enlarge Name: 5min_gu.gif Size: 52 KB
non si dimentichi mai
  • #1,979
  • Jun 3, 2009 2:16am Jun 3, 2009 2:16am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting plus50
Another question for you Karthik,

See the high volume bar and the accompanying candle, the one with the rectangle around it.

The candle, shows a price increase yet the closing price is much less than half of that 5 min period max. Therefore price action would indicate that despite the modest price increase there was significant selling.

But price went up significantly after this.

How would you have read that volume bar and corresponding candle?

BTW, I sat on the sidelines because of this and changed my mind about going long on GU.

plus50, a thought...

This volume 'spike' occurred at 02:30GMT.

There was AUD news out at this time that had a not insignificant effect on AUD/USD.

Being a USD related pair this is likely to affect other USD related pairs.

I, personally, would not read anything into that volume spike... on that price-bar... in that location.


Magnus


p.s. No, the highlighted bar would not indicate selling. However, the 2nd-last candle on your chart would indicate selling (which turned out to be the case). It's the location that makes the difference.
  • #1,980
  • Jun 3, 2009 4:39am Jun 3, 2009 4:39am
Quoting plus50
Another question for you Karthik,

See the high volume bar and the accompanying candle, the one with the rectangle around it.

The candle, shows a price increase yet the closing price is much less than half of that 5 min period max. Therefore price action would indicate that despite the modest price increase there was significant selling.

But price went up significantly after this.

How would you have read that volume bar and corresponding candle?

BTW, I sat on the sidelines because of this and changed my mind about going long on GU.
i do understand that this is a tough one to judge....such a big bar finishing near the lows and with high volume would suggest that the price is going down....i would surely have taken a short there and waited....if the big bar was indeed selling, i should see more selling and price falling down quickly...but that did not happen !! which leads to the first doubt whether it is indeed selling on that bar...this bar is then followed by some very low volume bars..second doubt...i would have exited the trade by this time then....thats how i would read it !!
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