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vsa with Malcolm

  • #16,821
  • Mar 20, 2011 6:37am Mar 20, 2011 6:37am
Taking signals with the trend, somedays there are many signals and somedays none. Of course you get more signals when we have a real trend. Trading with the trend, don`t have to be sceptical.
  • #16,822
  • Edited 2:10pm Mar 20, 2011 6:46am | Edited 2:10pm
Just wanted to share this indicator that I wrote for MT4 as a compliment to the better volume indicator. It is a nice quick check for comparing volume and range... I wrote it to show the current bar plus the previous 7 so that anyone who watches or trades the NR4 and NR7 bars (not VSA related) can quickly compare the range of the last 8 bars.

Anyway not sure if anyone will find it as useful as I do but here it is none the less.

It is made to be installed before the better volume indicator as it will open first in the bottom window and then you pull the Better Volume indicator and drop it into the same window as this indicator.

It's also a nice quick check for NS, ND and squat bars (again not VSA related, but used here by many).
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 PREZ R&V.ex4   15 KB | 377 downloads
Today's zone = Tomorrow's opportunity!
  • #16,823
  • Edited 8:11am Mar 20, 2011 7:07am | Edited 8:11am
Good Morning Friends: This morning I'm looking at a GU 5M bar springboard setup from Thursday's NY open off of a switchback and forth between support and resistance line. The rally off the spring was choppy, but a long trade setup would have still worked with a 25 pip stop loss located below the penultimate swing low. Just prior to London open there appeared a bit of short term weakness that was repudiated so that its effort resulted in choppy range capped by minor weakness from around 10:00 gmt. Of course this is only my opinion and should not be construed as trading advise or taken for anything other than entertainment only.

Many Thanks and Best Wishes to All
*****************************
Edit: Added 1H chart showing strength in background. VSA only works in consideration of and harmony with dominate background influence.
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  • #16,824
  • Mar 20, 2011 7:55am Mar 20, 2011 7:55am
Good Morning FB: Thank you for this clear analysis. Your help is much appreciated. Best Wishes for your continued success.

Quoting foxybunny
Juhanimi reply:

Okey.
When I woke up, I had a clear in my mind that EU and GU are bearish, I really do not remember from where I got that. All my problems came from there.
This happens sometimes, but not so often anymore.
1. Took short after that 1, but did not like PriceAction and closed after few +pips.
2. Clear trade, but in downtrend, and I had decised that GU is bearish today.
3. Same as 2.
4. NS again, no action taken.
5. HV UpBar and did not brake old level,
6. HV DownBar confirms that level wont brake.
7. NoDemand, sellstop...
  • #16,825
  • Mar 20, 2011 7:57am Mar 20, 2011 7:57am
Good Morning Pres78: Thank you for taking time to code and debug the information display indicator you posted. Your work is appreciated and should prove useful. Best Wishes for Your Continued Success.


Quoting pres78
Just wanted to share this indicator that I wrote for MT4 as a compliment to the better volume indicator. It is a nice quick check for comparing volume and range... I wrote it to show the current bar plus the previous 7 so that anyone who watches or trades the NR4 and NR7 bars (not VSA related) can quickly compare the range of the last 8 bars.

Anyway not sure if anyone will find it as useful as I do but here it is none the less.

It is made to be installed before the better volume indicator as it will open first in the bottom window and then...
  • #16,826
  • Mar 20, 2011 12:54pm Mar 20, 2011 12:54pm
Hi,
Anyone know if this COT index review (see FF News) has had any success in the past? ... I see it predicted strong bullish bias for EU last week and somewhat similar again for this week.
http://www.forexfactory.com/news.php?do=news&id=285101
The spoken word is your master, the unspoken word your slave.
  • #16,827
  • Mar 20, 2011 3:21pm Mar 20, 2011 3:21pm
Quoting CommercialB
Hi,
Anyone know if this COT index review (see FF News) has had any success in the past? ... I see it predicted strong bullish bias for EU last week and somewhat similar again for this week.
http://www.forexfactory.com/news.php?do=news&id=285101
This is just a way to judge what the retail traders are trading and allow you to trade against them (which can be a good thing) if you feel they are wrong. Since I trade using VSA I do not care personally what the retail traders are doing since I am following the big boys around the charts and not the retail guys.
Today's zone = Tomorrow's opportunity!
  • #16,828
  • Mar 20, 2011 3:48pm Mar 20, 2011 3:48pm
Quoting CommercialB
Hi,
Anyone know if this COT index review (see FF News) has had any success in the past? ... I see it predicted strong bullish bias for EU last week and somewhat similar again for this week.
http://www.forexfactory.com/news.php?do=news&id=285101
IMHO it is a waste of time. The COT has been around for ages, and perhaps at one time had some meaning when the fx trading world was very differemt, closed, and not nearly as liquid. In this world of algos, wolf markets, black swan events, manipulation to the nth degree, and a realignment of the world and currency order, the COT will/could easily mislead you by hundreds of pips in the wrong direction, a position no retailer should get to. It is so old school, to the point of being useless IMO. Sure, it can be right, 1 out of 2 times, but so can darts. The time spent towards any length of analysis of the COT, is time far better used towards other trade sharpening techniques, incl. VSA.
  • #16,829
  • Mar 20, 2011 3:55pm Mar 20, 2011 3:55pm
Quoting Beljevina
IMHO it is a waste of time. The COT has been around for ages, and perhaps at one time had some meaning when the fx trading world was very differemt, closed, and not nearly as liquid. In this world of algos, wolf markets, black swan events, manipulation to the nth degree, and a realignment of the world and currency order, the COT will/could easily mislead you by hundreds of pips in the wrong direction, a position no retailer should get to. It is so old school, to the point of being useless IMO. Sure, it can be right, 1 out of 2 times, but so can...
Hi Beljevina, I somehow disagree.. COT report if used adequately can be very powerful! In particular together with a good techincal Analysis. E.g. only open trades in the direction suggested by the COT reports.
In particular, you should study the COT together with the NET positons.. it gives you pretty good signals.
  • #16,830
  • Mar 20, 2011 4:05pm Mar 20, 2011 4:05pm
Quoting Martingale
Hi Beljevina, I somehow disagree.. COT report if used adequately can be very powerful! In particular together with a good techincal Analysis. E.g. only open trades in the direction suggested by the COT reports.
In particular, you should study the COT together with the NET positons.. it gives you pretty good signals.
Sure one might see it as a trend indicator, but there are other ways of deducing that. Sure one can use it along with other lagging indicators. I'd love to read studies on successful COT application, but, I suspect it's always used in conjuction with lots of other 'indicators', and I don't see it as being any more powerful than what we've seen with euro accumulation since the last visit to 1.29, with our own eyes on the chart; where the turn will be, I just don't see the COT helping until we're perhaps hundreds of pips underway. I've just never ever heard of anyone using it to get rich, and I you know SM & bank/inst. traders are making use of it: they're writing it! - It's about as lagging as it gets IMO. I suppose if one is accumulating small positions a bit at a time, but from a day trading & consistency profitablity perspective I just don't see it being of any significant value, in deducing a full or fraction of percentage change towards retailer exit & entry.
  • #16,831
  • Mar 20, 2011 4:09pm Mar 20, 2011 4:09pm
Quoting Beljevina
Sure one might see it as a trend indicator, but there are other ways of deducing that. Sure one can use it along with other lagging indicators. I'd love to read studies on successful COT application, but, I suspect it's always used in conjuction with lots of other 'indicators', and I don't see it as being any more powerful than what we've seen with euro accumulation since the last visit to 1.29, with our own eyes on the chart; where the turn will be, I just don't see the COT helping until we're perhaps hundreds of pips underway. I've just never...
Read the webpage that the link takes you to... it says that it still hasn't taken into account the affects from Japan... how's that for lagging.

USDJPY:The COT report for USDJPY is not yet able to reflect the effects of the earthquake and nuclear fears in Japan. Next weeks report will be the one to watch to see the effects of these events on this pair. At present we are seeing bearish positioning however only a few points are required to tip USDJPY into the neutral zone. (Large traders lead this COT report)
Bias:Bearish

Plus I agree you can't really call trading what the COT report says a trading method... might as well sign up for a signal service.

Anyway... it has nothing to do with VSA as we aren't following retail traders around the charts.
Today's zone = Tomorrow's opportunity!
  • #16,832
  • Mar 20, 2011 4:14pm Mar 20, 2011 4:14pm
Quoting Beljevina
Sure one might see it as a trend indicator, but there are other ways of deducing that. Sure one can use it along with other lagging indicators. I'd love to read studies on successful COT application, but, I suspect it's always used in conjuction with lots of other 'indicators', and I don't see it as being any more powerful than what we've seen with euro accumulation since the last visit to 1.29, with our own eyes on the chart; where the turn will be, I just don't see the COT helping until we're perhaps hundreds of pips underway. I've just never...
sure thing man.
Just have some italian friends that built up an Indicator just based on COT and looks pretty reliable
have a look! it is in italian but I can help you to transalte if you want.
http://www.thefiveorangepips.com/
The main concept is the variation of the Net+COT.
I use it on the top of ordinary technical analysis!
  • #16,833
  • Mar 20, 2011 5:22pm Mar 20, 2011 5:22pm
I hope everyone had a relaxing weekend and is ready for another exciting week.

So right off the bat Sunday afternoon I see a great opportunity in the USDCHF. I took a trade last week in this pair and posted a chart in the forum before we had that major spike coinciding with Japanese intervention. Fast-forward a few days and it looks like we may have another long opporunity. I've attached a chart which I feel clearly shows who is in charge at the moment, Bulls. Supply seems to be gone and demand is putting pressure on price.
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  • #16,834
  • Mar 20, 2011 5:39pm Mar 20, 2011 5:39pm
Quoting pres78
Read the webpage that the link takes you to... it says that it still hasn't taken into account the affects from Japan... how's that for lagging.

USDJPY:The COT report for USDJPY is not yet able to reflect the effects of the earthquake and nuclear fears in Japan. Next weeks report will be the one to watch to see the effects of these events on this pair.

Anyway... it has nothing to do with VSA as we aren't following retail traders...
Thanks guys, gd to hear all our views on COT etc, I guess listening too much to what "others" write or want you to believe goes against the very basics of VSA...probably should prioritize finishing reading my MTM first anyway! :-)
The spoken word is your master, the unspoken word your slave.
  • #16,835
  • Mar 20, 2011 6:45pm Mar 20, 2011 6:45pm
Quoting Sonofsin5
I hope everyone had a relaxing weekend and is ready for another exciting week.

So right off the bat Sunday afternoon I see a great opportunity in the USDCHF. I took a trade last week in this pair and posted a chart in the forum before we had that major spike coinciding with Japanese intervention. Fast-forward a few days and it looks like we may have another long opporunity. I've attached a chart which I feel clearly shows who is in charge at the moment, Bulls. Supply seems to be gone and demand is putting pressure on price.
I would go careful with that trade Sono. I'm not seeing the same amount of strength you do. You might be better waiting for price to fall to the 900 area and look for a setup there with a similar SL.
  • #16,836
  • Mar 20, 2011 6:48pm Mar 20, 2011 6:48pm
EU M5

Weakness appearing, possible retrace coming. Look for the setups in this area
  • #16,837
  • Mar 20, 2011 6:56pm Mar 20, 2011 6:56pm
Quoting Intel
EU M5

Weakness appearing, possible retrace coming. Look for the setups in this area
We need confirmation and an entry. Don't enter until we see them.
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  • #16,838
  • Mar 20, 2011 7:34pm Mar 20, 2011 7:34pm
Quoting Intel
We need confirmation and an entry. Don't enter until we see them.
Hello Intel,

What would potentially be the target in the event that VSA signals materialize for a short?

Thanks for your posts. I am getting better at it week by week. Still working on grasping all the ideas in the book. The feedback here helps a lot too.

Best Regards,

Moe.
  • #16,839
  • Mar 20, 2011 7:39pm Mar 20, 2011 7:39pm
Quoting Momomoney
Hello Intel,

What would potentially be the target in the event that VSA signals materialize for a short?

Thanks for your posts. I am getting better at it week by week. Still working on grasping all the ideas in the book. The feedback here helps a lot too.

Best Regards,

Moe.
Hi Moe,

I generally use a 1:1 R:R for these trades or I let the charts tell me when the move is done.
  • #16,840
  • Mar 20, 2011 8:30pm Mar 20, 2011 8:30pm
Quoting Intel
Hi Moe,

I generally use a 1:1 R:R for these trades or I let the charts tell me when the move is done.
Dear Intel,

Thanks.

At the risk of asking another stupid question, how does one determine that a move is done? Appreciate your comments.

Regards,

Moe.
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