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vsa with Malcolm

  • #19,381
  • May 6, 2011 1:13pm May 6, 2011 1:13pm
Quoting PipPipPip
There might be a reversal tomorrow/ maybe a continuation towards 1.47-1.48 for some time and touch 1.49 again, or we can go all the way down back to 1.3980.

Maybe the phrase "sell in may and go away" could just be temporary?
Good afternoon. What no surprise with the turn around.
Ha, my sell order executed at 1.4550.
i don't think the bull run is over just yet. waiting to buy again at 1.4175.

I see possible movement around 1.42 area to 1.49 area for this quarter.
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  • #19,382
  • May 6, 2011 1:22pm May 6, 2011 1:22pm
ok i got the es thing..thanks..i have 9 monitors up and running.. i keep many brokers going but fxcm is MY broker...1) how do i get the tick volume...2) just cancelled esignal last week(LOL) can get it back but it aint cheap..so does it make a significant difference is what im asking or would tradeguider on mt4 suffice.. i do realize everones got there own thing a little different...i dont hold anyone accountable for advice..trading is a solo flight..just would like to get it right the first time if possible...esignal is 175 a month(but i heard if you have a standard acct with fxcm you can get for free...Hmm..ill call) ..just want to know if esignal data is worth 175 a month...thanks again to everyone for all the guidence...once im set up i shouldnt be such a burden..regards, RB
  • #19,383
  • May 6, 2011 1:23pm May 6, 2011 1:23pm
my response is I did the SAME thing .... 4485.... when supply hit the up move then it ripped to 4527 stopping me out. Now the f**Ker is at 1.4350. But i did manage to get in at 1.4490 again on a no demand . i knew i should have held my sell of yesterday into 1.4

Quoting Robbin Banks
see this is an example of exactly what i was talking about...i shorted eu right after NFP at 4480..it ran to 4560 so i dumped it..now it has come back down to 4380!!!! you VSA vetrens are probably thinking "why would you enter there and exit there?"..good question ! was just wondering that myself!! LOL..was it possible to see ,using VSA, in advance ,that the move up on NFP was short lived?..im only on pg 30 of the book and its a bit complicated to grasp at first..so im wondering was it even possible to see that short was the play of the day on...
Blogging daily now at www.volume.zone
  • #19,384
  • May 6, 2011 1:28pm May 6, 2011 1:28pm
Quoting Robbin Banks
.. i keep many brokers going but fxcm is MY broker...1) how do i get the tick volume...2) just cancelled esignal last week(LOL) can get it back but it aint cheap..so does it make a significant difference is what im asking or would tradeguider on mt4 suffice.. i do realize everones got there own thing a little different...
FXCM MT4 volume is pretty good from what I recall. With the BetterVolume indi on your MT4 chart, the volume it prints is really the tick volume; when we say volume around here, it's implied it's tick volume.

The multifeed GTIS eSignal feed is nice, but it is very close to many MT4 brand names in volume bar-to-bar differences. Remembed that VSA is really about one-third about the actual volume transacted on the actual bar - the other 2 components are the height/range of the price bar, and where it closed.

www.leveragefx.com is one of those IBs that will cover free eSignal volume with many brand names including FXCM I believe, if one trades 10 round turn lots per month. (I'm not completely sure if they only feed you fx spot data or more) There are I'm sure other offers around as well.

In another post you'd also mentioned something about getting the S.M.A.R.T. program - I'm not one who would advise that, for many reasons. One of them is although TradeGuider is more expensive, the support is real and quite extensive. And the MT4 TG version of the indi doesn't impress me at all.

IMHO, take it a step at a time: the tools setup with just MT4 and some basic indis is sufficient IMHO. Once your understanding of Master The Markets builds, so too will the theory - don't load yourself down with too many indicators and signals that would come from the TG programs or elsewhere, because I find the learning becomes more skewed to reading the computer's/TG's signals, as opposed to your own.
  • #19,385
  • May 6, 2011 1:30pm May 6, 2011 1:30pm
Quoting Robbin Banks
i totally agree with the group..theres something about posting calls ,even if there wrong , that makes you a better trader...its like practicing an instrument at home versus going out and playing in front of people..ya gotta do it if you expect to get better i think...id really like to see a chart of why you thought we were oversold and now in hindsight why was that a misinterpritation..or rather what changed!!..i for one could really benfit from any call in foresight..even if its to learn by mistake...regards,RB
Thanks to you and pres78 for what you wrote!

Well, given my trigger level at 1.45000, there was a test according to tradeguider. I was drawing a trend line from the previous low up to the low of the bar after the test. Then the price went down through the trend line and as I was bullish I was thinking that is was oversold. But in fact the next bar after the breakout of the channel was ND, but not an up bar and it was not detected by tradeguider.

It should have alerted me when it broke below that bar. I've always problem with those ND which are down bars and the NS which are up bars.
There was an ND bar a bit before too, but it was not at the trigger line, so I ignored it.

I think the position of my trigger line was wrong too.
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  • #19,386
  • May 6, 2011 1:37pm May 6, 2011 1:37pm
OMG..you mean i took nearly the same trade as the boss!!! im gettin" good at this already!!! oh wait..i wasnt using vsa and lossed 80 pips!!!..damn , back to the drawn board!!..LOL..

dont feel quite as bad though!!! LOL..thanks guys!!!
  • #19,387
  • May 6, 2011 1:47pm May 6, 2011 1:47pm
beljevina...ok got it ..thanks so much for everything..so just so i got it right ..using fxcm + better volume indie + some sort of daily pivots indie is the basic set up i need to be looking at..correct?
  • #19,388
  • May 6, 2011 1:50pm May 6, 2011 1:50pm
ok so in hindsight you feel like you maybe gotta a miss read from the tradeguider..is that right?...if you hadnt you would have reconsidered your postion?..on the subject or tradeguider...are you happy with that software overall...would you reccomend it>
  • #19,389
  • May 6, 2011 2:06pm May 6, 2011 2:06pm
Quoting Robbin Banks
ok so in hindsight you feel like you maybe gotta a miss read from the tradeguider..is that right?...if you hadnt you would have reconsidered your postion?..on the subject or tradeguider...are you happy with that software overall...would you reccomend it>
No, that's not that I got a miss read from the tradeguider. I'm so impressed how it can detect the different SOS or SOW on the chart depending on the background. And I also know that it is not perfect and it cannot detect every SOW or SOS. And the Tradeguider masters showed it in many webinar when we see ND or NS not recognized by tradeguider.

My biggest mistake was to forget that a trigger line could be drawn from any bar with a special signification. A climactic bar can be used to set a trigger level for future reactions of the price around it, but a Test, ND or NS bar is also a very special bar volume and spread-wise. If we draw a trigger line on the close of the Test bar in my chart, it's amazing how the ND bar (the previous one, not the one I've marked as ND) tested that level. Something more I've learnt!
  • #19,390
  • Edited 2:46pm May 6, 2011 2:29pm | Edited 2:46pm
dvarrin...interesting! cool..thanks for that analogy..ill have to study up on the whole trigger thing to better understand your thoughts but i do appreciate your insight....i take it from your post that you really like the tradeguider software?
  • #19,391
  • Edited 5:15pm May 6, 2011 3:05pm | Edited 5:15pm
Quoting Robbin Banks
dvarrin...interesting! cool..thanks for that analogy..ill have to study up on the whole trigger thing to better understand your thoughts but i do appreciate your insight....i take it from your post that you really like the tradeguider software?
What is nice in Tradeguider is the detection of the SOS and SOW and the comments they put on each. But I'm sure the pros here don't really need it after sometime. And the indicators are quite basic. The only one I don't know what it is is the painting of the bars in red or blue. I think using a Fisher indicator we can get about the same or even better. I would not be surprised if the color was based on a crossing of two different MAs.

The other indicators are here. I've modified the Hidden Gap Volume to have the colour like in Tradeguider and I changed the MA in color (diamonds) indicator to have three colours instead of only two.

Put the price on the front in the options, otherwise the diamonds are hidding the bars too much. In fact in tradeguide it is simply a MA 20 and it is white when the close of a bar is above the MA while it is descending or the close is below the MA while it is going up.

For the stop you can setup the Chandelier Stop as you want.

The VSAc_BAR_DOTS is not from me either, but I changed it to put a little dot at the middle of a bar when it is closing in the middle between 30% and 70% (if 0% is the low and 100% is the high of the bar). So we see easier if a bar is closing at the high, low or middle, without making the chart unreadable.

DV_SPREAD and DV_TRUERANGE are not required. DV_SPREAD will show the spread of each bar and paint it using the same colour like for the volume indicator; the difference is that to have a pink bar, the spread has to be lower than the 4 previous bars. DV_TRUERANGE is a test of what it looks like when we use true range (difference between the high of an up bar and the close of the previous bar or the low of a down bar and the close of the previous bar). It is amazing how it can show the volume accurately and sometime better than tick volume ;-)
Attached File(s)
File Type: mq4 HiddenGap_Volume_WithTGColors.mq4   20 KB | 824 downloads
File Type: mq4 MA in 3Colors (diamonds).mq4   4 KB | 802 downloads
File Type: mq4 ChandelierStops_v1.mq4   3 KB | 580 downloads
File Type: mq4 VSAc_BAR_DOTS~.mq4   2 KB | 736 downloads
File Type: mq4 DV_SPREAD.mq4   4 KB | 669 downloads
File Type: mq4 DV_TRUERANGE.mq4   4 KB | 711 downloads
  • #19,392
  • May 6, 2011 3:07pm May 6, 2011 3:07pm
And here are the comments for all the SOS and SOW in tradeguider. It was posted in one of the threads here on forexfactory.
Attached File(s)
File Type: pdf TG Indicators Guide v1.01[1][1].pdf   459 KB | 1,054 downloads
  • #19,393
  • May 6, 2011 3:12pm May 6, 2011 3:12pm
DV_SPREAD is wrong. That's not the colored version. I'll post it on Monday ;-)
  • #19,394
  • May 6, 2011 5:14pm May 6, 2011 5:14pm
Greetz dvarrin, tnx for posting the indi updates, will try them on the weekend. As much as I like the Better Vol indi, I switched to the Hidden Gap vol. indi, I like the test bars to be obvious with out "squinting at the screen" as Alexander Elder says.
Have a good weekend all
  • #19,395
  • May 6, 2011 5:23pm May 6, 2011 5:23pm
Have all a good weekend!
  • #19,396
  • May 6, 2011 5:59pm May 6, 2011 5:59pm
Quoting dvarrin
Thanks to you and pres78 for what you wrote!

Well, given my trigger level at 1.45000, there was a test according to tradeguider. I was drawing a trend line from the previous low up to the low of the bar after the test. Then the price went down through the trend line and as I was bullish I was thinking that is was oversold. But in fact the next bar after the breakout of the channel was ND, but not an up bar and it was not detected by tradeguider.

It should have alerted me when it broke below that bar. I've always problem with those ND which are...
Hope you don't mind but I through a few thoughts onto your chart.

the first 3-4 bars post NFP were very telling in that we saw a SO, confirmation and even a nice wide spread upbar which would take us into a long trade after the SO was confirmed. I mentioned this in another post but that wide spread up bar had a drop in volume and was a no buying pressure. Now this doesn't always mean that the upmove will stop but it does shown some weakness. The very next bar however is a clear sign to get out and close your longs as we now have a 2 bar reversal right into a previous high volume trigger.
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Today's zone = Tomorrow's opportunity!
  • #19,397
  • May 6, 2011 6:13pm May 6, 2011 6:13pm
Quoting pres78
Hope you don't mind but I through a few thoughts onto your chart.

the first 3-4 bars post NFP were very telling in that we saw a SO, confirmation and even a nice wide spread upbar which would take us into a long trade after the SO was confirmed. I mentioned this in another post but that wide spread up bar had a drop in volume and was a no buying pressure. Now this doesn't always mean that the upmove will stop but it does shown some weakness. The very next bar however is a clear sign to get out and close your longs as we now have a 2 bar reversal...
Really nice pres78! It's always so easy to read on your charts!

I'm still confused on how to set the trigger lines. I never know where we have to put the trigger on a wide spread bar. Is it at the close or the high or the low? Can something else around that bar help us to draw it?
  • #19,398
  • May 6, 2011 6:15pm May 6, 2011 6:15pm
Quoting dvarrin
Really nice pres78! It's always so easy to read on your charts!

I'm still confused on how to set the trigger lines. I never know where we have to put the trigger on a wide spread bar. Is it at the close or the high or the low? Can something else around that bar help us to draw it?
Focus on the high volume bars and the really wide spread bars. Start out assuming that the close will be the trigger but watch the H and L too as many times we will get reactions at these levels. I will usually just mark all 3 levels on the highest volume bar within the area of PA. I also mark all 3 levels of really high spread bars even of the volume isn't the highest because it represents some strange event or PA.
Today's zone = Tomorrow's opportunity!
  • #19,399
  • May 6, 2011 10:29pm May 6, 2011 10:29pm
thanks pres.
it is indeed the high of the day, and before the NFP news, it's been tested and never break.

I also respect market profile, as do some other traders here.
price's not been successful in taking london auction.

From such a spike since thursday, market should do some balancing, and not in a while, and repair the structure it left, creating another leg up. Again, not really vsa related, sorry if I mixed it here in vsa thread, but it's something that I also pay attention to.

Quoting Robbin Banks
yes i couldnt agrre more..its why i went short...which i guess would be against the daily trend but i was looking no more than 1h.. figured if it...
  • #19,400
  • May 7, 2011 12:24am May 7, 2011 12:24am
Malcomb, where do you get your volume information from?
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