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Trade Using VSA (Volume Spread Analysis)

  • #2,641
  • Aug 7, 2009 3:53pm Aug 7, 2009 3:53pm
Quoting chalk54
I see it too......... and some others
Hi chalk54
Prompt that at you for the indicator on GBP/USD?
that shows arrow(red and green), judging by history on your screen very well gets.
If there is a possibility share please.

Thanks
  • #2,642
  • Aug 7, 2009 4:32pm Aug 7, 2009 4:32pm
Hey there,

I found this indi by forexflash in the programming discussion a while back. It's a High/Low/Close Bars indicator for mt4. It had a few bugs that I have fixed and I also modified it to compare the close of each bar to determine if it's an up bar or down bar (instead of the open/close).

I have also coded a simple volume histogram to match the color coding of the HLC Bars. It simply color codes the up bar volume and down bar volume.

To use the HLC bars, you need to set your bar coloring in mt4 to the same color as your background. I have attached a template to this post that will do this for you if you get stuck.

There's one setting in the HLC_Bars indi, CloseHeight. This setting allows you to adjust the height of the close line in pips. It works best on a 5 digit broker where 1 = 0.1 of a pip. 1 = 1 pip on a 4 digit broker.

I am not aware (with my limited mql knowledge) of any way around the 1 pip high close line on 4 digit brokers. To illustrate my point, here are two charts. One is ibfx 4 digit and the other is fxcm 5 digit.

IBFX 4 Digit
Attached Image


FXCM 5 Digit
Attached Image


Enjoy
Attached File(s)
File Type: mq4 HLC_Bars.mq4   4 KB | 1,199 downloads
File Type: mq4 HLC_Volume.mq4   2 KB | 1,201 downloads
File Type: tpl hlc_bars.tpl   1 KB | 721 downloads
  • #2,643
  • Aug 8, 2009 3:01am Aug 8, 2009 3:01am
Quoting chalk54
I see it too......... and some others
hii how do u get this high vol area in metatrader platform?also what is all this arrow about?


http://cloud.forexfactory.com/attach...1&d=1249625100
  • #2,644
  • Aug 8, 2009 3:33am Aug 8, 2009 3:33am
Quoting Dr.Key
Hi chalk54
Prompt that at you for the indicator on GBP/USD?
that shows arrow(red and green), judging by history on your screen very well gets.
If there is a possibility share please.

Thanks
$100 says that that indicator repaints.

You will not find salvation through a repainting indicator, or any other indicator for that matter.
Boxing clever since 76.
  • #2,645
  • Aug 8, 2009 4:07am Aug 8, 2009 4:07am
Thankyou all for this Great thread.
Some very helpful information.
I'm trying to make it through this one and the original.
I hope to become a VSA junky.
Thanks again,
  • #2,646
  • Aug 8, 2009 7:31am Aug 8, 2009 7:31am
Hi folks,

Just wondering why this great thread has not been rated yet, shame on you all (now get to it). LOL!


This has been a public service announcement paid for by our good friend Shamus but in no way endorsed by Malcolmb...JK!
  • #2,647
  • Aug 8, 2009 8:42am Aug 8, 2009 8:42am
Quoting copi88
$100 says that that indicator repaints.

You will not find salvation through a repainting indicator, or any other indicator for that matter.

make that 100k

probably a demark type indi marking a swing high/low.
  • #2,648
  • Aug 9, 2009 10:35am Aug 9, 2009 10:35am
Could this 4 hour pin bar be an upthrust to trap buyers? I have some problems interpreting the high volume doji that happened at the bottom of the consolidation. Any help would be appreciated. Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: nz2.gif Size: 21 KB
  • #2,649
  • Aug 10, 2009 1:16am Aug 10, 2009 1:16am
Getting very close to Malcolm's call of 6600 (heck 6650 damn good) but will we break here and Fridays low.
Attached Image
  • #2,650
  • Aug 10, 2009 1:30am Aug 10, 2009 1:30am
Quoting copi88
$100 says that that indicator repaints.

You will not find salvation through a repainting indicator, or any other indicator for that matter.

$500 says he charges for it ... charts have NOTHING to do with vsa
Blogging daily now at www.volume.zone
  • #2,651
  • Aug 10, 2009 1:39am Aug 10, 2009 1:39am
Quoting Vantage
Getting very close to Malcolm's call of 6600 (heck 6650 damn good) but will we break here and Fridays low.
Just a few hour late though uh?

Posted Aug7th...

Quoting malcolmb14
By 2am pst tomorrow i am expecting 1.6600
Keep up the great analysis malcolmb14, it's very interesting and helping a lot.

Lux
MT4 EA, Indicator and Alert Coder Since 2006
  • #2,652
  • Aug 10, 2009 1:40am Aug 10, 2009 1:40am
Quoting Vantage
Getting very close to Malcolm's call of 6600 (heck 6650 damn good) but will we break here and Fridays low.
Hi V - I hope you were in the initial sell from the breakdown about half an hour before FO......I too liked the 650 / Fridays low confluence, so I reversed with a hit and run buy, but now I seee that the 5m low candle - a green hammer - had the highest volume so far this morning - profit taking or buying?.....Time Will Tell......http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #2,653
  • Aug 10, 2009 3:27am Aug 10, 2009 3:27am
Quoting Vantage
Getting very close to Malcolm's call of 6600 (heck 6650 damn good) but will we break here and Fridays low.
And the answer is (drum roll please) yes down to 6610. Very impressive stuff Malcolm.
  • #2,654
  • Aug 10, 2009 3:58am Aug 10, 2009 3:58am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
6B (GBP/USD Future).

3-min.


Magnus
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-08-10-6B_11.gif Size: 19 KB
  • #2,655
  • Edited 5:59am Aug 10, 2009 5:04am | Edited 5:59am
Quoting Yuppie
6B (GBP/USD Future).

3-min.


Magnus
Thx Magnus - the main difference between yours and my 5m IBFX is the higher volume that you have on the low candle......I've already been long twice since then and banked my pips as I feel that there is a high probability of a spike down to the 6600 area to shakout any nervous early longs......
Trading Levels with WRBs
  • #2,656
  • Aug 10, 2009 5:09am Aug 10, 2009 5:09am
Malcolm
please I would like ask what do you think about this bars in green boxes ???
It is 60 min. open market hours ES. Could be distribution bars or just some absorbing of supply ?? Is there any clue to distinguish it ???
Thank you
http://www.sierrachart.com/userimage...ploadImage.png
  • #2,657
  • Aug 10, 2009 8:20am Aug 10, 2009 8:20am
Yuppie
Magnus, can you post your last chart (3 min 6B) with Open, SL and TP levels of opened position? What's your R:R ratio in average?

My guess would be to open with something about 10 pips SL or less after No Supply bar with 20 pips TP. R:R=2 sounds good.
  • #2,658
  • Aug 10, 2009 8:30am Aug 10, 2009 8:30am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Dael
Yuppie
Magnus, can you post your last chart (3 min 6B) with Open, SL and TP levels of opened position? What's your R:R ratio in average?

My guess would be to open with something about 10 pips SL or less after No Supply bar with 20 pips TP. R:R=2 sounds good.

Hi Dael,

I never took that trade this time. That post was more for learning purposes.

But, to be honest, the more I learn VSA (and general price action, as I only use the basics of VSA) the more discretionary I am.

My TP and SL are really not too helpful to you.

Had I been watching that chart I may have entered on the break of the 'no sellers' bar OR just blindly around that area OR even waited for it to go further down and never even got in.

My SL may be below the 'no sellers' bar OR a round number OR the low of the 'buyers coming in' bars.

I know this is very Nebulous - but such is the way of trading - well, my style at least.

All I can really say is, keep watching your charts, keep taking notes, keep trading (demo if you're still on that).... and try NOT to trade. That is what I do. I try not to trade all day long. But when a setup is jumping up and down waving it's arms trying to get my attention... I can't help but trade it.


Magnus
  • #2,659
  • Aug 10, 2009 11:50am Aug 10, 2009 11:50am
Hey everyone just been working my way through this huge thread the last few days along with MTM after recently discovering VSA. Thanks for all the great info you guys have put together, really informative. VSA seems to be a real breath of fresh air when compared to the charts I am used to looking at.

I hope to be able to contribute soon when I have more experience, keep up the good work!

Maybe catch you all in chat.
  • #2,660
  • Aug 10, 2009 5:32pm Aug 10, 2009 5:32pm
see ya NYSE R.I.P ..lol

banned for trying to sell his mentorship
Blogging daily now at www.volume.zone
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