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vsa with Malcolm

  • #1,381
  • Jul 16, 2010 8:11am Jul 16, 2010 8:11am
Quoting bruceli
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...
I have been watching this GU setup on the 15 as well. So far today the price action has been bleeding like a small wound.

We are getting a little too close to the US open for my liking though.
  • #1,382
  • Jul 16, 2010 8:14am Jul 16, 2010 8:14am
Quoting bruceli
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...

The very wide spread down bar closing off the low on very high volume looks like it is pushing down through the support area. There was some buying in this bar but only enough to move it sideways so far.

The first 2 bar reversal is followed by a NS but the high is never broken, we would expect this bar to be up if the reversal was good.

The next 2 bar reversal is followed by a squat. This is a further sign of weakness.

All of these bars are making lower highs and lower lows suggesting that there is more weakness to come.

With us having a mix of rversal patterns and weakness, we may be in for a range between the low of the reversal bars and the previous low. Trade with care.
  • #1,383
  • Jul 16, 2010 8:14am Jul 16, 2010 8:14am
Quoting @mel
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

Summer is always slower from a price action point of view since lots of wealthy big money players take nice vacations. There are also other factors involved of course but there are still great ranges during the day if you focus your attention on the London /Us session and overlap. I rarely look at a chart past 2:30 est past the month of July into Sept.
  • #1,384
  • Jul 16, 2010 8:28am Jul 16, 2010 8:28am
Quoting Intel
The very wide spread down bar closing off the low on very high volume looks like it is pushing down through the support area....
thank you very much intel for your comments....

cheers..
  • #1,385
  • Jul 16, 2010 8:44am Jul 16, 2010 8:44am
on GU daily 1.5480 may act act a resistance.
Attached Image
  • #1,386
  • Jul 16, 2010 9:22am Jul 16, 2010 9:22am
Quoting @mel
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
This is my first summer trading VSA, so not sure about that specifically, but in Europe practically the whole continent goes on vacation in August, so that month in particular can be more unpredictable and lower liquidity in general...
  • #1,387
  • Jul 16, 2010 9:28am Jul 16, 2010 9:28am
This is my 2nd summer with VSA and i can tell You that if You understand VSA - August or some other month is no problem.

JUST TRADE.


Best,
Tom


Quoting TC East
This is my first summer trading VSA, so not sure about that specifically, but in Europe practically the whole continent goes on vacation in August, so that month in particular can be more unpredictable and lower liquidity in general...
  • #1,388
  • Jul 16, 2010 9:38am Jul 16, 2010 9:38am
not sure about anyone else who has tried it but it crashes both my broco and ibfx mt4s. and i've reduced the bars to like, 200. still crashes.

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. A number of external variables are added

UseSessionAverage - set to true if you want session by session comparision
AsiaBegin - Start time...
  • #1,389
  • Jul 16, 2010 10:22am Jul 16, 2010 10:22am
Quoting RaverStyleTim2
not sure about anyone else who has tried it but it crashes both my broco and ibfx mt4s. and i've reduced the bars to like, 200. still crashes.
me neither...
  • #1,390
  • Jul 16, 2010 10:37am Jul 16, 2010 10:37am
Quoting tfflyer
This is my 2nd summer with VSA and i can tell You that if You understand VSA - August or some other month is no problem.

JUST TRADE.


Best,
Tom
Didn't say it was a problem, at least not for me. Was simply answering the brother's question...
  • #1,391
  • Jul 16, 2010 10:48am Jul 16, 2010 10:48am
Quoting TC East
Didn't say it was a problem, at least not for me. Was simply answering the brother's question...

Thanks everyone for answering the question.

TC East, I'm sure you meant to say: The sister's question... Lol...
I'm a woman.
  • #1,392
  • Edited 11:06am Jul 16, 2010 10:50am | Edited 11:06am
Hi, f451

Your version of BetterVoluem 1.4 doesn't work, I have tried twice, but crash my MT4. Could you take a look at it?

BTW, I have a question regarding i-SessionLn, please see the attached pic.

Thanks and regards
polomine

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. A number of external variables are added

UseSessionAverage - set to true if you want session by session comparision
AsiaBegin - Start time...
Attached Image (click to enlarge)
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  • #1,393
  • Jul 16, 2010 10:55am Jul 16, 2010 10:55am
Quoting RaverStyleTim2
not sure about anyone else who has tried it but it crashes both my broco and ibfx mt4s. and i've reduced the bars to like, 200. still crashes.

My platform also crashed on two attempts. First with 500 bars, then with 250 bars. But nevertheless, thank you for the effort f451.


Regards

Wolfgang
  • #1,394
  • Jul 16, 2010 2:37pm Jul 16, 2010 2:37pm
Quoting @mel
Thanks everyone for answering the question.

TC East, I'm sure you meant to say: The sister's question... Lol...
I'm a woman.
Haha! Yes ok, I saw "Mel" so I figured a man, but thanks for the clarification And I also realize now that tfflyer was just being encouraging; that doing VSA correctly allows us to handle any market condition. So that is appreciated...

Have a good w/e everyone...
  • #1,395
  • Edited 7:30pm Jul 16, 2010 7:02pm | Edited 7:30pm
After weakness is shown in background (I mean pure weakness at the top not one with hidden strength), and the next bar is a down bar with narrow spread on high/increasing volume than the previous bar = This is called a squat. According to HG, he says he identifies two types of squat - up or down squat. So let's assume this is a down squat. [BTW, kindly correct me if wrong].

Now, in a scenario where we have strength in the background (at the end of a falling market and after climatic action) then the next candle is up with with a narrow spread, higher/increasing volume would you you refer to this as an up squat?

According to Tom Williams, I know that a candle with high volume, down bar, narrow spread = Demand Swamping Supply (SOS) - Bag Holding. And also, a candle with high volume, up bar, narrow spread = Supply Swamping demand (SOW) - End of a Rising Market.

But I am asking you the above question just to understand/know what instances you refer to or identify a set-up as an up squat or a down squat.
  • #1,396
  • Jul 16, 2010 8:32pm Jul 16, 2010 8:32pm
Does anyone has RSX with alert ( when cross)?
The Market pays you to be disciplined
  • #1,397
  • Jul 16, 2010 9:59pm Jul 16, 2010 9:59pm
Quoting wh1zz0
After weakness is shown in background (I mean pure weakness at the top not one with hidden strength), and the next bar is a down bar with narrow spread on high/increasing volume than the previous bar = This is called a squat. According to HG, he says he identifies two types of squat - up or down squat. So let's assume this is a down squat. [BTW, kindly correct me if wrong].

Now, in a scenario where we have strength in the background (at the end of a falling market and after climatic action) then the next candle is up with with a narrow spread,...
End of a Rising Market, and Bag Holding are two specific type of squats as identified by Tom Williams. Broadly speaking, I would refer to any candle/bar that closes HIGHER with a narrow range on increasing volume as an Up Squat. And any bar that closes LOWER with a narrower range then the previous candle/bar and increasing volume as a Down Squat.

According to the checklist for going long (buying) on p. 112 in Master the Markets, Tom asks the following:

".... Is there a narrow spread with high volume on a down-day? (must close on the lows). This is a sign of strength......."

From my perspective, Tom is describing a down squat.

Check out the chart below.

There as a beautiful squat (down) here after strength in the background. Note that this candle is a NR4. That is, it has a range narrower than the previous three candles. Making it the narrowest range in the last 4. The volume is increasing and above average.

The entry comes after we see the Test.
Attached Image (click to enlarge)
Click to Enlarge Name: VSA12.png Size: 99 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #1,398
  • Jul 16, 2010 10:29pm Jul 16, 2010 10:29pm
According to the checklist for going long (buying) on p. 112 in Master the Markets, Tom asks the following:

HiddenGap:
Very good explanation, as always.
By the way, do you use a check list for your day trading? if yes, please be so kind to share it with us.

Have a anice weekend!
  • #1,399
  • Jul 16, 2010 10:50pm Jul 16, 2010 10:50pm
Quoting HiddenGap
End of a Rising Market, and Bag Holding are two specific type of squats as identified by Tom Williams. Broadly speaking, I would refer to any candle/bar that closes HIGHER with a narrow range on increasing volume as an Up Squat. And any bar that closes LOWER with a narrower range then the previous candle/bar and increasing volume as a Down Squat.

According to the checklist for going long (buying) on p. 112 in Master the Markets, Tom asks the following:

".... Is there a narrow spread with high volume on a down-day? (must close on...
COOL!

Thanks for your response. This clarifies my thinking that a squat is the same as End of a Rising Market & Bag Holding. What almost confused me was the term. So basically a squat is just a nick name for the terms. I did some research and it looks like it was Bill Williams who gave it the term "squat".

In today's EU M15 chart there was no demand bar after the effort to rise (1), which was then followed by the End of a Risking Market signal (5) i.e Supply swamping demand or a squat as shown on my chart.

Attached Image (click to enlarge)
Click to Enlarge Name: fffeu.gif Size: 34 KB
  • #1,400
  • Jul 17, 2010 1:34am Jul 17, 2010 1:34am
Why do you bother with terminology so much. You only look for high and low volume and compare it with the spread of a bar.
Tom also said, you have to ask yourself what SM is doing and why is doing that.
It's not enaugh to memorize the patterns like squat, climax, bag holding, end of rising market, no demand, test...but you need to understand why this appeared on the chart and why it appeared at that place.


Have a nice weekend!


Regards
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