vsa with Malcolm

Ya, its just volume profile, Sierra Chart calls it Volume by Price. I'm sure someone has tried to do it with mt4, I would just start using futures data if I was you You can get demo's from many brokers.

thank you
but not quite - but close
I need some way of making all my trades the same value
so I win or lose the same amount in dollars
I need to come up with away to make the units/pips/cost all the same per trade

but thanks again

Here is a good example of WSB interplay as well, from EU today. Maybe a little too in depth but the chart shows good volume/candle/WSB interplay.
Both charts are 3m, the one on left helps clarify some candles on the regular chart, which is the one on right (and vice versa). 6 and 7 make more sense on the left chart (I use different TF and start time etc to clarify ambiguous candles at important zones). Pink line is just weekly Vpoc. Fill out the numbers if you care too, I'll post one later on. Everyone looks at the chart a little different, so mark the candles that are more important to you if there are any.
Edit the candle before no.1 is ETR, for starters.
3m eu

Should have been long before this action anyway but its interesting WSB / Volume analysis.

someone asked about low volume tests and so on
so here is low volume test M5 and at the same time M30 is showing high volumes
you should try to find Tom Williams videos, it is a clear teaching, not so much extra talk like Gavin,
Gavin likes to talk



http://www.forexfactory.com/showthre...04#post8232504

Like so much to see your charts Sir. just my mindset how i look at charts now from left to right.
Started from Drifter after two bars lack of demand
Break above that Lack of Demand Buying power below can do that but we are approaching to sellers area they can sell more or just want to take it higher we dont know at this point
next bar kind of doji confirms some selling there.
next up bar up but low to average volume behind it.
reaction to it was down bar on low volume need more evidence of sellers next bar down narrow range lowest volume last seen looks like test so personally i buy.
then two hammers like bars on average volume looks drifter at this point if was on @BE for sure out. if not then careful about my long or manually out.
Your BAR 1 HV volume on up bar but close in middle BC or they will absorb dont know at this time .. next bar down engulf with more than average volume sellers are now in open space.
reaction to that was healthy range down bar also high volume then red hammers low.
bar 2 looks ND for me range is still wide last 4 bars
bar 3 Not only confirms ND with increasing volume but also take out with high volume below two hammers the balance point. change in behavior
bar 4 a lower low on lowest volume.. i am looking test or ND... this i not for me
bar 5 with increasing volume taking previous NS or Test bar at supported area reaction to that free fall
i am in right after sl above free fall bars open or center.

and this is also something that happens now and then in every timeframe

xauusd h2

first x is no supply and price comes back to that level with huge volume, but does not continue down, it stops right at that level, so it could be hidden buying going on, so it is now time to move lower time frames and look from there if it is so, but today is bank holiday in europe, so maybe nothing to see today

Within the zone, the close of the next bar to bar 5 was probably a short entry & covered at the close of the next downbar, just outside the zone.

Here's where I would of shorted outside the zone.



there was also a long entry I noticed:

OK well in that case, I use an MT4 add on called Trader on Chart. You can set a currency amount / percentage risk / lot size as your risk as well as a multitude of other settings. Most of which i've found severely lacking in MT4. It costs €59 but I found it a really useful tool. At least give the trial a go and see what you think. There may be a free version of this somewhere but I can't find it. Some brokers offer it as part of their MT4 but that means changing broker. I bought this after joining IC Markets for that tool and they discontinued it. Hope it helps.

GBPUSD last 15 minute bar of the LO first hour. Priced was brought up to a shared 50% level from yesterday's highest volume 1hr and 15 min zones. I love when we see these shared levels. Lovely 15min ND entry. Decreased volume on the whole move up showing lack of buyers conviction.

Thank - you
OANDA has something like it , So I can control the amount I trade in all the ways you say. But again because each pip value is different for each trade. therefore the end is different. I want something I can control the backend risk of the trade.

ie. I use 3% per trade but 3% of eur-gbp is two times more then eur-usd. This is also true if I use pips or cash as the standard to trade by.
What this means if I win I win 2 times more pips or cash but also if I lose I lose 2 times more pips.

I don't really understand this last part. The percentage setting in this indicator is the percentage of your account size that you wish to risk. So it doesn't matter if you're trading EURUSD or RUBTHB. The risk stays the same. Either way, I hope the tool is useful for what you want. I love it.

thank you

Hello guys ,

What do you think about this stopping volume ?

It stopped at a gap zone from N.Y Thursday, just stopping volume for the day, going sideways now. It wasn't really ultra high volume etc. It was however, the end of a 12h candle on an interesting support that was previous resistance.
5m and 15m, see the inverted hammer inside the 15m candle on support zone, w/ a NS for added confirmation:

12h old level that may be support now (highly doubtful)

Pg.66 & 67 Master the Markets [pdf]

There's been some very interesting answers to the quiz so far. You participation is much appreciated.

I suspect the big guns like Pres78, KinsaleForex, Intel and TraderinSD have not answered yet because they did not want to discourage the "newbies" from doing so. Thank you guys for doing that. But just know that the quiz does not end until a couple of you chime in...............

OK fine call me out again...

Gotten away from the names for awhile but I will give it a shot. I tried to replicate the 3 minute chart in my MT4 and while close there are slight differences.

Your Chart

 

1. Though volume is not climatic I would call this a buying climax (or even call it "supply enters the market") based on how it closed and what is was closing into
2. ND or NBP (into the low of the BC)
3. On yours this is I would call also a ND (though an odd print) - my chart this prints as a test
4. Hidden test - my chart this prints as a ND / NBP
5. Let's call this effort to fall (lowest close in 16 bars). Note how price returned to the low of this bar and found more sellers before pushing back down out of that WRB.

Bonus

 

1. I would take the ND (bar 2) from your chart
2. I would take either ND / NBP (bars 2 and 4) from my chart as they are below the low of the BC

As you can see on my chart that BC is right into a shared level. The high of your drifter bar (which for me is also my highest volume bar that day) which is also the low of an UHV 3 minute zone from the day before and also 50% of the bar # 1 BC bar. As soon as we close back below bar 1 and print a series of weak bars I would be more than ready to short at least expecting to see the low of the drifter bar (which as we can see offered support). There are also some ND bars into the low of the drifter bar which could be taken as entries.

Bonus 2

Google tells me it's the song "Isolation" by Joy Division.

Be easy I am rusty.

Keep an eye on EURUSD this month as there is a good chance we will be seeing a return to 1.1 before heading much higher. From there we could see a great higher TF trade either way. Right now more on the side of seeing a nice buy but at this point it could go either way and we will need to watch PA as we get down into that area.

Just something to keep an eye on if it plays out.

Both eyes locked on, only item I trade.

Let me start off by saying again that there were some awesome responses to the quiz. A lot can be learned from them. The breath and depth of knowledge demonstrated in the responses further solidifies the value of this thread.

As it is often said, the names don't matter as much as the understanding of what constitutes a bar of weakness or strength. Having said that, here we go.

#1. This is a wide spread up candle that closes well of its high. In fact, it closes in the midpoint of its range. And it does this on increasing volume. A bar of strength would not close that low in its range, would it? While the volume is increasing, it is not excessive. For that reason, I would call this Supply Coming In. I could understand why some might call this a Buying Climax. But for me, the volume is not climatic. Ergo you can't have a climatic bar (Buying Climax, Climatic Action) when the volume is not climatic.

The main thing to note is the weakness. The fact that the interval was unable to close above the high of the zone is another, albeit non VSA, clue of said weakness.

#2. This is an inside bar closing UP with a narrow range (it's actually an NR4) on volume less than the previous two intervals. This is No Demand. Some noted, correctly, that this interval is the price's first attempt to move back into the range of the Supply Coming In interval and it price fails to close back within it. Let's jump ahead for a sec. At this point, we do not know it, but #3 will confirm this interval. #1 was confirmed with the next interval down and this interval will confirm also. Clearly, there is some weakness at this time.

This would be an pretty advanced and aggressive entry. Most would wait. We haven't had a Sequential set-up just yet.

#3. Which brings us to #3. This interval makes a higher high than the previous interval, closes in the lower 25% of its range and had increasing volume. We again note that this interval attempted to trade within the range of #1, but was rejected. It's not the best example of an Up Thrust, but it is at least "Up Thrust-like". If we do see this as an Up Thrust-ish bar, we now have a sequential set-up. Especially if the next bar confirms.

#4. #4 and #5 were the original inducement for the post. Along with the interval inbetween them. #4 makes a lower low than the previous bar, closes up and within the 75th percentile of its range and has volume less than the previous two intervals. Technically, it does not confirm #3 as it closes higher than the close of #3. Because this interval closes UP on volume less then the previous two intervals, some would say this is No Demand. Calling this No Demand is certainly reasonable. But, since the interval makes a lower low and closes near its high, it would be more appropriate to call this a "Hidden Test".

If this is indeed a "Hidden Test", the next two intervals are very key.

It starts with confirmation. The interval after #4 is tricky. We can see that this interval does not make a lower low, but it does make a higher high than the previous interval. We can also see that it closes higher than its midpoint. And has increasing volume that is no where near excessive. Generally, these are signs of strength. But this interval does not close higher than the "Hidden Test" interval, it closes equal. Is an equal close confirmation? Well, some people will give a Test two intervals to confirm. But most would like to see the confirmation on the interval proceeding the Test.

Since we can establish that the interval after the "Hidden Test" exhibits strength, I believe the test is confirmed. Thus, we have a sign of strength. Is it time to load up on the longs as price shoots to the moon? Of course not. Not only are we in a zone previous established by aggressive sellers, we have weakness in the immediate background.

It's time to remember one of the three laws: Effort vs Result.

#5. While I have not said it recently, I have said this many times in the past. When you see a WRB within 1-3 intervals after a confirmed test that closes lower than the low of that test, it is No Result from a Test. This is a sign of weakness. The Test is the effort and the WRB closing lower is the result. Not good. Another question we should always be asking is, "What is the market trying to do, and how good of a job is it doing at doing that?". The market was looking for strength, or at least a lack of weakness, and found it. But what happened once it found what it was looking for? Price proceeded to move in the opposite direction.

If you were not yet short, this is the sign to get short. This is the opposite case of trying to enter on UP bars. Here you want to enter after the DOWN bar. You could enter on the open of the next interval, or wait for a slight retrace. Although the reasoning was different, this was the most cited entry. Like I said, the thread participants here are good.

Just to be clear. I am not talking about a failed test here. No Result from a Test implies that the Test was successful (confirmed).

Thanks again to all who participated. I know I learned a lot. You all have great insight.

Winston got it first and did not mention Google. That's right, it's from the best band ever: Joy Division. And the song is Isolation.



May 18th is just around the corner.