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workin idea
I have discovered that if you overlay wick indic over the Volume [you'll find the lines are really skinny] --but don't erase the one out of the template [so you have 2 wick indies on]-that if you want more action and don't want to wait for the confirmed signals I posted, you can take any trade in the direction of the trend [GP trend indie] and Volume Wick color-- as long as the stem of the wick indicator isn't equal to, longer than, or crossing through from above the volume stem.
First, I'd like to thank those who thought of the concept of Volume trading-yes it can be done.
Hafiz-you're on the right track, but so many indies! You lose track of the "big picture" and the PA. Hope you don't mind that I cleaned up your system a little bit.
Here is my trading setup--I find it much easier to trade on 15M TF and higher, but the concept can be used for any TF. I also like to use a Trix indicator that's part of a different system--sorry I can't post it, and it's not in my file attachment, but this basic setup is good enough to make some good $.
1st Indicator [Wick]-- Shows what the PA is going or trying to do. The longer the stem the more the strength. Threshold levels of 0.001 and -0.001 put in--if the stem crosses the line then there's a 99% chance that the next candle will be that direction.
2nd Indicator= Volume Averages the stronger the color and longer the stem indicates candle trend and strength.
3rd Indicator= GP trend-- what the immediate trend is overall.
4th Indicator--Moutek Lines--trend line drawer--works well on smaller TF's to show ranging areas and breakout zones.
I've tried overlaying the 1st 3 indies in all manners possible but it's tough to decipher and hard on the eyes.
Valid trade signals: [scalping candles]
In trend color according to GP trend: Same color stems for top 2 indicators [pink/red, red/red, light blue/blue, blue/blue]
Valid divergence trades within a trend:
Stems of opposite colors in top 2 indicators and top indicator stem must pass threshold line [-0.001/0.001]
I personally scalp candles and my exit strategy is either a) the end of the candle b) a reversal signal [divergence as listed above]
With the use of a trix and a RSI one could use this for a long term trade and set accurate TP.
Good luck and many profitable pips to everyone. I'm open to constructive criticism on this---I would also like to see this turned into an EA.
http://www.mediafire.com/file/xnm0wyownwo/colorGP repaint, may have a better filter? or more accurate inputs?
incorporate trix from THV system and it's new Trix histo bar indicators. I can't post them as they aren't mine and are copyrighted, but you can get them from here:
CobraForex, forex is easy or not?
system rocks on 5 and 15M TF
in my template, overlay trix in GP
bottom window indicator is THV histo bar
5M charts
settings
5 fast
5 slow
15 fast
60 slow
15M chart
15 fast
15 slow
30 fast
60 slow
1 HR chart
60 fast
60 slow
240 fast
240 slow
15 and 1 hr chart pics
Instead of GP trend
try putting "parabolic trendchaser" or "TH MTF 1.4 alert" indicators for trend indication
I would post these, however, I'm not able to for some reason
they're easy to find though if you Google them
Hi all..
any update ? Seem this thread no feedback. did somebody make Digital Volume indidcator? Tq
VSAmtf
Hi;))
We can have increasing spread and increasing volume -strong participation .YellowGreen bar
We can have decreasing spread and increasing volume. Red
We can have increasing spread and decreasing volume. Blue
We can have decreasing spread and decreasing volume-waiting market. Gray
Regards
Hi;))
We can have increasing spread and increasing volume -strong participation .YellowGreen bar
We can have decreasing spread and increasing volume. Red
We can have increasing spread and decreasing volume. Blue
We can have decreasing spread and decreasing volume-waiting market. Gray
RegardsHow is the best way to analyze/trade this?
Thanks for the indicator
My screens & few words from an ea from forexfactory.
" ...It can have increasing spread and decreasing volume. This means that price is
moving without strong participation and can not be sustained. Due to the lack of participation,
the price is ripe for a reversal.
It can have increasing spread and increasing volume. This means there is wide
participation and price should continue in this direction.
It can have decreasing spread and increasing volume, which means that the supply
and the demand are temporarily stalemated. This is a warning that the direction move may be losing steam.
It can have decreasing spread and decreasing volume.
This to me means that the bar has little participation from anyone and that the market
is dull or congested. "
Look interesting !!
I will try