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vsa with Malcolm

  • #1,361
  • Jul 15, 2010 3:29pm Jul 15, 2010 3:29pm
Quoting Intel
Mmmmmm.....I also use FXCM UK.
Looks like that's a demo chart? I'm using live; maybe that's the difference but not sure...
Attached Image (click to enlarge)
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  • #1,362
  • Jul 15, 2010 3:31pm Jul 15, 2010 3:31pm
Quoting TC East
Looks like that's a demo chart? I'm using live; maybe that's the difference but not sure...
It is demo yes. I have never found a problem before......mmmmmm!!!!
  • #1,363
  • Jul 15, 2010 4:58pm Jul 15, 2010 4:58pm
Quoting wh1zz0
Okay here goes my question (Chart below).

How would you have interpreted the area where I have those question marks?

Attachment

No Supply No Supply Test. The Wide Spread up candle on high volume is actually absorption volume, which is strength and not weakness. Looks like weakness followed by an Up Thrust but with no volume as the market moves down, it can only be that the SM was prepared to absorb the selling on that candle. The idea was to lock traders into the market.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #1,364
  • Jul 15, 2010 5:54pm Jul 15, 2010 5:54pm
Hey Malcom you said you use HMA turns to alert you. But what period is this HMA? 21?

Also, what TF do you use for these alerts? And on how many charts do you use it? Thank you
  • #1,365
  • Jul 15, 2010 5:57pm Jul 15, 2010 5:57pm
Quoting HiddenGap
No Supply No Supply Test. The Wide Spread up candle on high volume is actually absorption volume, which is strength and not weakness. Looks like weakness followed by an Up Thrust but with no volume as the market moves down, it can only be that the SM was prepared to absorb the selling on that candle. The idea was to lock traders into the market.
yes, i was locked all day...

actually, hourly bars with low volume, two times occured, told me these can be no supply bars, but i can not trust myself, because we were on the midway.. i mean, if we have no supply bar, then it should exist in the beginning..

and as if they reaccumulated as approaching to new highs, and absorped and did mark up all the way...

i mean, this kind of increase should load its strenght on the way...

does it sound logical Hidden Gap ?

cheers...
  • #1,366
  • Jul 15, 2010 6:29pm Jul 15, 2010 6:29pm
agreed, confusing day.

Intel, your play-by-play comments help a lot, thanks.


data feed is ATC (FXCM UK)



Quoting Intel
Time of day is right. Look back at what happens to the volumes at 17:00 every day on your charts, they are very similar.

Your marked bars are not a 2 bar reversal. They have too long a lower wick.

The 2nd of the 2 bars has a volume greater than the 1st bar on your chart. On my chart(I'm at home now), it is lower!

Can anyone else confirm please.
Attached Image (click to enlarge)
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  • #1,367
  • Edited 7:56pm Jul 15, 2010 7:42pm | Edited 7:56pm
A number of people on this thread have mentioned mentioned the desire to improve the volume indicators to take account of the natural volume variations between the sessions (asia, london, new york), allowing "apples with apples" comparison of volume with volume from the same time and session of previous days.

I have coded up a version of the Better Volume 1.4 indicator that includes this functionality. A number of external variables are added

UseSessionAverage - set to true if you want session by session comparision
AsiaBegin - Start time of Asian session in brokers time e.g. "17:00"
AsiaEnd - End time of Asian session in brokers time e.g. "05:00"
EuroBegin - Start time of London session in brokers time e.g. "03:00"
EuroEnd - End time of London session in brokers time e.g. "12:00"
USABegin - etc
USAEnd - etc

these are currently set to begin and end times for the sessions in my demo broker's (ATC) local server time. You will need to adjust for your brokers times, and use the same 24 hour format to get session averaging to work properly.

If you use session averaging the code creates the moving average of volume by determining which session you are currently in and skipping any volume bars that aren't in that session as it calculates the sum of MAPeriod volume bars to calculate the moving average.

This means that the code doesn't distinguish between session overlaps - and this may create some minor inconsistencies.

I haven't debugged this code - my trading PC is currently not connected to a feed, so there may well be giant bloopers. Others on this forum can probably fix these very quickly, but I'll try to fix if you bring anything to my attention. You should see the moving average line of Better Volume dip or rise significantly with the sessions - using an indie like i-SessionsLn (which I fixed and posted earlier, and repost here) to confirm the changed MA coincides with sessions would be a good visual test.

This code should have advantages over the session factor approach, as a factor may become invalid over time, and may not reflect individual session variations.

cheers
f451
Attached File(s)
File Type: mq4 BetterVolume 1.4 plus Session Average.mq4   7 KB | 394 downloads
File Type: mq4 i-SessionsLn.mq4   11 KB | 391 downloads
  • #1,368
  • Jul 15, 2010 9:51pm Jul 15, 2010 9:51pm
Quoting HiddenGap
Again, I don't use Hulls but I think this is kind of what you are talking about.

The market gives a beautiful 2 candle bottom reversal and then comes back and finds no supply in the range of the reversal candle. But price is below the BPL and BPL is red. In other words, this very strong signal of strength can't be taken by our rules.

Price moves above the BPL signaling a change in trend and the BPL turns blue. We see two signs of strength that don't make good entries as per our rules. We see a No Selling Pressure candle. The problem here is...
I am finding that candle patterns confirmed with VSA are quite reliable to trade. See attached chart. Piercing pattern followed by no selling pressure. Nice run for 50 odd pips. Market gave us a couple of chances to enter as well.
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Speculator is just a fancy word for gambler
  • #1,369
  • Jul 15, 2010 9:57pm Jul 15, 2010 9:57pm
Quoting wh1zz0
Okay here goes my question (Chart below).

How would you have interpreted the area where I have those question marks?

Attachment
Just wanted to finish my thought on this question. I have used my chart as you asked what would I have done here. It is pretty easy. Price stays above the BPL which tells me the trend is up. Therefore I am only looking to get long. The Up Thrust and the No Demand are out of place, although they can move the market down or sideways a bit. But there is no reason to do anything but take longs because of where price is.
Attached Image (click to enlarge)
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #1,370
  • Jul 15, 2010 11:23pm Jul 15, 2010 11:23pm
Quoting HiddenGap
Just wanted to finish my thought on this question. I have used my chart as you asked what would I have done here. It is pretty easy. Price stays above the BPL which tells me the trend is up. Therefore I am only looking to get long. The Up Thrust and the No Demand are out of place, although they can move the market down or sideways a bit. But there is no reason to do anything but take longs because of where price is.
Hi bro
I have read few posts from u and I'M sure i can Learn from u A lot.
Keep the great work
  • #1,371
  • Jul 16, 2010 12:24am Jul 16, 2010 12:24am
Quoting egkid
Hi bro
I have read few posts from u and I'M sure i can Learn from u A lot.
Keep the great work
Everyone is learning a lot from HG
  • #1,372
  • Jul 16, 2010 12:34am Jul 16, 2010 12:34am
Quoting HiddenGap
No Supply No Supply Test. The Wide Spread up candle on high volume is actually absorption volume, which is strength and not weakness. Looks like weakness followed by an Up Thrust but with no volume as the market moves down, it can only be that the SM was prepared to absorb the selling on that candle. The idea was to lock traders into the market.
Thanks for your response Intel and HG....

@HiddenGap, from your response you seem to have seen further strength? If yes, what was your criteria? I ask because as at the time this was occurring, although I was already long before then, I had to close my trade because I thought it was weakness. Your analysis would be highly appreciated.

Thanks
  • #1,373
  • Jul 16, 2010 12:50am Jul 16, 2010 12:50am
Quoting Intel
I'm not sure there is any weakness in the background....
I just read your posts again (HG & Intel).. Ahh yeah right.. Makes sense now.. Sometimes even an old timer like me can get things mixed up..

Thanks
  • #1,374
  • Jul 16, 2010 3:18am Jul 16, 2010 3:18am
Quoting wh1zz0
I just read your posts again (HG & Intel).. Ahh yeah right.. Makes sense now.. Sometimes even an old timer like me can get things mixed up..

Thanks
Hey no probs.

Like I said, I dont know if I would have called it that way live.......I'd like to think I would but things are more difficult and become shaded when trading live.

It's much easier in retrospect

HG is much more experienced than me so maybe his description would be the better to concentrate on, even tho we basicly said the same thing. He seems to have a way with words which sadly eludes most of us.
  • #1,375
  • Jul 16, 2010 3:45am Jul 16, 2010 3:45am
Quoting f451
A number of people on this thread have mentioned mentioned the desire to improve the volume indicators to take account of the natural volume variations between the sessions (asia, london, new york), allowing "apples with apples" comparison of volume with volume from the same time and session of previous days.

I have coded up a version of the Better Volume 1.4 indicator that includes this functionality....
thanx for your work...

cheers..
  • #1,376
  • Jul 16, 2010 4:16am Jul 16, 2010 4:16am
malcolm has mentioned Tom Williams' http://www.vsaclub.com/

does anyone have any experience with the service ?
  • #1,377
  • Jul 16, 2010 6:32am Jul 16, 2010 6:32am
in chart, in my opnion, lows are being bought, if so, we should wait for no demand bar, and effort to rise .. if those occurs, then , shall we have some up day again...

besides, in this zone, at yesterday late session, there was a very big volume zone...

additionally, previous 2 bars seems to me 2 bar reversal with higher volume...

any comments please ?

cheers...
Attached Image (click to enlarge)
Click to Enlarge Name: 15 m gu friday.jpg Size: 183 KB
  • #1,378
  • Jul 16, 2010 7:06am Jul 16, 2010 7:06am
Quoting bruceli
in chart, in my opnion, lows are being bought, if so, we should wait for no demand bar, and effort to rise .. if those occurs, then , shall we have some up day again...

besides, in this zone, at yesterday late session, there was a very big volume zone...

additionally, previous 2 bars seems to me 2 bar reversal with higher volume...

any comments please ?

cheers...

I'm sure you meant to say '.........wait for no supply bar........'

I dont want to be rude but I'm finding it very difficult to read your charts because of all those lines everywhere. It makes it very difficult to answer your questions. Maybe you could try zooming in a little?

Mind you.......it's not hard to confuse me
  • #1,379
  • Jul 16, 2010 7:27am Jul 16, 2010 7:27am
Quoting Intel
I'm sure you meant to say '.........wait for no supply bar........'

I dont want to be rude but I'm finding it very difficult to read your charts because of all those lines everywhere. It makes it very difficult to answer your questions. Maybe you could try zooming in a little?

Mind you.......it's not hard to confuse me
i am sorry for my sophisticated lines

here you yare sir, very simple chart...

and it is now updated.... and more confused as usual

thanx a lot, Intel...
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  • #1,380
  • Jul 16, 2010 7:46am Jul 16, 2010 7:46am
Hi guys,

Since a few weeks ago I hear a lot of traders (not VSA traders) screeming that trading during the summer holliday is really dificult because of the market moving slower then the other months (everyone is on holliday...).

Myself, I saw less movment on the eur-yen for example this days then a few weeks/months ago. However I was able to spot differents VSA setups for different pairs.

Do you guys have any comments on this? What have been your experience trading vsa during the pasts summer?

Grtz,
@mel
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