Volume Strips Indicator | Forex Factory

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Volume Strips Indicator

  • #1
  • First Post: Jun 14, 2013 1:00pm Jun 14, 2013 1:00pm
Hi,

Does anyone use this indicator know how to interpret it?
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  • #2
  • Jun 15, 2013 2:24am Jun 15, 2013 2:24am
Is that data coming from CME?

Post indicator if you have it.


http://www.cmegroup.com/education/vo...ys-market.html
  • #3
  • Jun 15, 2013 7:55am Jun 15, 2013 7:55am
No, its not.

Sure here it is.

I think its based on previous tick volume of previous days seems to be working nicely. I like figures where most traded volume is as a point of control/interest.

Let me know your findings in the future bud.
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File Type: ex4 ###VolumeStrip.ex4   11 KB | 1,399 downloads
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  • #4
  • Jun 15, 2013 6:13pm Jun 15, 2013 6:13pm
Quoting Pipanator
Hi, Does anyone use this indicator know how to interpret it? {image}
Yes, I have used the indicator, I use a different one but the data is still the same. It pretty much "is what it is", volume at price, no need for interpretation. Its just data. However you can use the data to help interpret the "Auction Market Process". You can use it for end of day analysis & trade preparation, or in real time. You use it the same way as you would use TPO analysis. The data can be used to calculate the % of volume in the value area and also the average % of volume for value area. You can use it to tell you volume above the POC as well as volume below the POC. You can also use it to calculate volume above value as well as below value area , i.e. difference between the percent of volume above the POC and subtracting the percent of volume below the POC. Also, as well as volume above value or below the value area. Price above value doesn't mean your in an uptrend or price will continue higher. i.e. knowing if you have more trading vol above or below the poc will increase the probabilities of knowing if price will continue higher. Knowing how much trading vol above & below the value areas can tell you how much commercial participation is involved. Also, tpo & vol counts in the different "Octants" areas also help define probabilities & help define "context". Also comparing tpo count with vol count, for confirmation.
Markets are not efficient, rather they are effective - Jones
  • #5
  • Jun 15, 2013 6:33pm Jun 15, 2013 6:33pm
Quoting mzvega
{quote} Yes, I have used the indicator, I use a different one but the data is still the same. It pretty much "is what it is", volume at price, no need for interpretation. Its just data. However you can use the data to help interpret the "Auction Market Process". You can use it for end of day analysis & trade preparation, or in real time. You use it the same way as you would use TPO analysis. The data can be used to calculate the % of volume in the value area and also the average % of volume for value area. You can use it to tell you volume above...
I was going to send him your way mzvega (Auction Market/Market Profile thread). Looks like there is no need to now. Good to see you posting. Trade well my friend.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #6
  • Jun 16, 2013 5:34pm Jun 16, 2013 5:34pm
Quoting HiddenGap
{quote} I was going to send him your way mzvega (Auction Market/Market Profile thread). Looks like there is no need to now. Good to see you posting. Trade well my friend.
I always appreciate your kind words.......
Markets are not efficient, rather they are effective - Jones
  • #7
  • Jun 27, 2013 2:03am Jun 27, 2013 2:03am
Quoting Pipanator
No, its not. Sure here it is. I think its based on previous tick volume of previous days seems to be working nicely. I like figures where most traded volume is as a point of control/interest. Let me know your findings in the future bud. {file}
Hi Terminator

Something is missing, indi is not working... -> cannot load library p01.dll (error 126).
  • #8
  • Nov 18, 2013 4:45pm Nov 18, 2013 4:45pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting mzvega
{quote} Yes, I have used the indicator, I use a different one but the data is still the same. It pretty much "is what it is", volume at price, no need for interpretation. Its just data. However you can use the data to help interpret the "Auction Market Process". You can use it for end of day analysis & trade preparation, or in real time. You use it the same way as you would use TPO analysis. The data can be used to calculate the % of volume in the value area and also the average % of volume for value area. You can use it to tell you volume above...

So mzvega,is the volume strip indy effective and worth reading alongside the

tpoc,tpo,vpoc analysis that goes into the whole auction market theory/profiles?...

Your insight is greatly appreciated thank you...
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #9
  • Nov 18, 2013 6:13pm Nov 18, 2013 6:13pm
Quoting Owl
{quote} So mzvega,is the volume strip indy effective and worth reading alongside the tpoc,tpo,vpoc analysis that goes into the whole auction market theory/profiles?... Your insight is greatly appreciated thank you...
Personally I don't believe volume at price, the numbers themselves displayed on the chart are of much value as you can't decipher how much is actual buying or selling. "Auction Market Theory" is about "Market Generated Info." Its more of what you do with the data. On the chart it has little value to me personally, but outside the chart tpo's/vol, without getting to specifics, understanding different market players behavior you can begin to interpret the volume in different ways. By taking this info and isolating & analyzing tpo's/vol inside VA, above VA, below Va, above & below POC. With a few calculations you can determine what "Commercial like behavior" is doing from a positional point of view. Also by tracking & recording this behavior on a everyday basis you can also use that data to know when you have above avg. Commercial like activity above or below value on a given day, gives you insight on their position. Higher than usual activity, increasing, decreasing...anomalies in this data, gives you insight as to where they're positioned and their activity. I use the profile as a way to read what the market is doing, not as a buy sell type indicator. Trading the Auction Market Process really gives you an edge in trading,imo. It takes a lot of work, not many are willing to work for it. Its not for most people..........
Markets are not efficient, rather they are effective - Jones
  • #10
  • Nov 18, 2013 7:37pm Nov 18, 2013 7:37pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting mzvega
{quote}Commercial like activity above or below value on a given day, gives you insight on their position. Higher than usual activity, increasing, decreasing...anomalies in this data, gives you insight as to where they're positioned and their activity. I use the profile as a way to read what the market is doing, not as a buy sell type indicator. Trading the Auction Market Process really gives you an edge in trading,imo. It takes a lot of work, not many are willing to work for it. Its not for most people..........
I truly appreciate and greatly admire your stance on this position..I will take your

input into enormous consideration going forward as I too am aspiring and hoping

for the day to come already to be as gifted as you are at reading auction market

theory profiles...once again thank you for everything you do around here....
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #11
  • Dec 1, 2016 8:40am Dec 1, 2016 8:40am
Hello, is anyone trading with Volume Strips? Do you have an indicator that works on current MT4 build?
  • #12
  • Dec 24, 2020 9:39pm Dec 24, 2020 9:39pm
It seems to me that this is an indicator developed by Peter Steidlmayer of the CBOT-CME in Chicago. It works for futures but I don't know if it works for spot forex. There are a couple of videos on the subject if you want to check it out more:
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  • #13
  • Last Post: Dec 28, 2020 12:28am Dec 28, 2020 12:28am
Quoting Pipanator
No, its not. Sure here it is. I think its based on previous tick volume of previous days seems to be working nicely. I like figures where most traded volume is as a point of control/interest. Let me know your findings in the future bud. {file}
Interesting concept to explore but anyone have it working on later MT4 seems to come up with nothing on my charts
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