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Real Volume Indicator

  • #1
  • First Post: Edited 3:42am Mar 14, 2014 3:11am | Edited 3:42am
Hello Trader-Community,

I coded some indicators in the python programming language, which scrape retail-sentiment data from different sources and put them into MT4.
It is like an OrderBook in realtime, where at the current price and history all positions were shown.

Have a look at the picture to know what I mean.

Attached Image (click to enlarge)
Click to Enlarge Name: IcebergTrading.jpg Size: 233 KB


The first indicator is the overall sentiment and the second shows the sum of all orders (short/long) at
the corresponding candle.

Here is the problem I'm facing:

One of my tradepeer told me, if I would make this stuff public the sentiment would be changing and the indicators become useless and would have impact to my own trading success.

What is your opinion about that? What should I do?

Take it please as a real discussion and sorry FF-staff if it is the wrong board.

Thank you in advance

Mediator
  • #2
  • Mar 14, 2014 3:22am Mar 14, 2014 3:22am
Retail traders have no real impact on the market. So share (or not) your tools won't make any difference.

BTW, look interesting.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Mar 14, 2014 3:42am Mar 14, 2014 3:42am
Quoting Mediator
Hello Trader-Community, I coded some indicators in the python programming language, which scrape retail-sentiment data from different sources and put them into MT4. It is like an OrderBook in realtime, where at the current price and history all positions were shown. Have a look at the picture to know what I mean. {image} The first indicator is the overall sentiment and the second shows the sum of all orders (short/long) at the corresponding candle. Here is the problem I'm facing: One of my tradepeer told me, if I would make this stuff public the...
Nice work here, but I would like to ask you if you know anything about the On Balance Volume(OBV)?
  • #4
  • Mar 14, 2014 7:26pm Mar 14, 2014 7:26pm
In my opinion, if you have developed something proprietary like this, i.e. where you have essentially "created" data that is not publicly available in an easily digestible format, the fewer you share it with, the more likely it is that you will continue to generate an edge from it, assuming that there is one to begin with.

So I would suggest that you don't share it publicly, if you want to profit from it yourself in your trading. Obviously, one can have other reasons that monetary to share or not share. If the benefit that you would get from sharing it e.g. by feeling good about making a positive contribution here, is greater than the feeling that you might get from generating trading profits from using your data, then you should share it. It depends on your own motivation for sharing/not sharing.
  • #5
  • Mar 14, 2014 8:13pm Mar 14, 2014 8:13pm
Retail traders don't believe in this kind of sentiment data. All they look at is price action, candles and that kind of stuff.

Oanda/FXCM/MyFxBook has been making this kind of information available for free for years now. I'm collecting it all, other sources too, I've even made a video once using it (see image), but nobody really cares about it. They don't understand it's power, just like they don't understand quant methods.

https://dl.dropboxusercontent.com/u/...ositioning.png

You seem to be using MyFxBook:
http://www.myfxbook.com/community/outlook
http://www.myfxbook.com/api/get-community-outlook.json (needs session parameter)

Inserted Code
{
    "error": false,
    "message": "",
    "symbols": [
    {
        "name": "EURUSD",
        "shortPercentage": 80,
        "longPercentage": 19,
        "shortVolume": 6060.39,
        "longVolume": 1435.64,
        "longPositions": 6162,
        "shortPositions": 20330,
        "totalPositions": 7496,
        "avgShortPrice": 1.3717,
        "avgLongPrice": 1.3886
    },
}

To put it another way, those who are already interested in this, are already using it. And the rest don't care. So unless you have a non-public source of information...
  • #6
  • Mar 15, 2014 3:31am Mar 15, 2014 3:31am
Quoting FerruFx
Retail traders have no real impact on the market. So share (or not) your tools won't make any difference. BTW, look interesting.
Exactly. I cann't agree more.
  • #7
  • Apr 4, 2014 4:08am Apr 4, 2014 4:08am
Hi Mediator,

any news about your real volume indicator ?
  • #8
  • Apr 4, 2014 2:30pm Apr 4, 2014 2:30pm
Real volume you may get on ECN brokers
  • #9
  • May 23, 2014 2:28am May 23, 2014 2:28am
Quoting Mediator
Have a look at the picture to know what I mean. {image} The first indicator is the overall sentiment and the second shows the sum of all orders (short/long) at the corresponding candle.
I have made ​​some indicators of this type. (Also saving history data files, although not long ago.)
But I'm curious exactly what data you're plotting in that image. How are you defining "overall sentiment" and "sum all orders"?
-first indicator, "overall sentiment", second "sum all orders" These lines do not seem any of the data shown me in my indicators. (from lots,positions, distances, buy/sell, and some calculations derived.)

Regards.
  • #10
  • May 24, 2014 4:55am May 24, 2014 4:55am
Same as I did. Here's one of my DayTrading sentiments:
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 44 KB

This is a recent statement from one of my futures accounts:
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 165 KB


Mediator, get back to me, I am sure we have something to discuss and improve.
I'm against of all kinds of public sharing, only private, only self-improve, Work Hard - Trade Smart.
  • #11
  • May 24, 2014 11:32am May 24, 2014 11:32am
Quoting m1kz
Same as I did. Here's one of my DayTrading sentiments: {image} This is a recent statement from one of my futures accounts: {image} Mediator, get back to me, I am sure we have something to discuss and improve. I'm against of all kinds of public sharing, only private, only self-improve, Work Hard - Trade Smart.
Hi M1kz

your indicator is interesting , can you PM me your indicator? would like to test and see if i can integrate into my strategy

Thanks!
  • #12
  • May 24, 2014 12:05pm May 24, 2014 12:05pm
Good going guys, lots of ways to skin the cat. m1kz That statement is looking good But you shouldn't have shown it, it only brings people wanting quick profits without any work. It's amazing that I have followed this thread for so long and it hardly got any post you know why, more than half the traders on here don't even know how amazing the indicator that Mediator has or even want to know or care about sentiment, so it's ignored. But when you post your statement now I can bet this place is going to full, most people on FF don't want to learn nothing they only want quick bucks.

Good luck with your trading I am going to futures soon after my account is big enough.
Being a trader is lonely, but being a great trader is lonelier still
  • #13
  • May 24, 2014 12:52pm May 24, 2014 12:52pm
how to get these information. i mean is ti the total volume of forex industry or only the volume of any particular broker. cz only any particular brokers volume will lead wrong information not the accurate one.
  • #14
  • May 24, 2014 9:38pm May 24, 2014 9:38pm
Retail sentiment can sometimes be used as contrarian signal. Yet it's not consistent.
  • #15
  • May 25, 2014 12:20pm May 25, 2014 12:20pm
Quoting pooh123
Retail sentiment can sometimes be used as contrarian signal. Yet it's not consistent.
It's how you define consistent that is key.I have followed sentiment for awhile and even though it might not always give clear direction, it seems to be able to give very consistent points where the market is about to make big moves, and that alone can improve someone's trading enormously. The rest is up to the trader's RR, and experience but information like this are good for timing.
Being a trader is lonely, but being a great trader is lonelier still
  • #16
  • Aug 24, 2014 2:49pm Aug 24, 2014 2:49pm
Real Volume Indicator ???? hehehhe. i didnt come here for comedy
  • #17
  • Aug 24, 2014 6:47pm Aug 24, 2014 6:47pm
If it's possible to fetch real volumes from LMAX or another LP, it's still in the assumption that those volumes are representative as all real volumes exchanged on market.
Too, there is a huge difference between Real Volumes from executed trades than provided, bcoz due to HFT and some other systems, a big percentage of those trades are cancelled inside a second....

Furthermore, Technics to hide big volumes (icebergs) are mainly used by central banks, so, the interpretation of real volumes can not be so easy

IMHO, real volumes belong to the kind of sea snakes
  • #18
  • Dec 29, 2014 9:32pm Dec 29, 2014 9:32pm
You can see "const long& volume[], // Real Volume" was defined in OnCalculate() already.
  • #19
  • Feb 12, 2015 11:55am Feb 12, 2015 11:55am
where is that indicator ?
i lose money for a living
  • #20
  • Feb 12, 2015 6:40pm Feb 12, 2015 6:40pm
To think retail market players change the market is pretty funny. There is so many different ways the markets moves. To think one idea is gonna change the market is to funny.

I follow a trader who took 100 positions in under a minute with 10 Lot contracts. Thats 1000 contracts. In the minute she made those trades the market moved from 1.13010 to 1.13017. Then over the next hour price went up 190 points (not pips). The candle close with a big push up and she close all her positions. Didnt change a thing.

Yea she made 118K, I have been following her for some time. Very good trader

https://www.facebook.com/permalink.p...38320192948473


edit: found this posted in August 25th, 2014.........lol


http://www.tradingsystemforex.com/in...olsvolume.html

edit: as for REAL VOLUME these are similiar, they only cost money.........but remeber it takes money to make money

https://www.mql5.com/en/market/product/2723

https://www.mql5.com/en/market/product/5380
Learn, a forex trader must, unlearn and relearn he will.
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