You're on the right track, but the logic is a bit too simplified. Tick volume shows activity, not who is in control.
Saying orders are "absorbed" or "exhausted" based only on volume and pivot position is speculative. You'd need more context, like price action or order flow, to confirm that kind of interpretation.
You're on the right track, but the logic is a bit too simplified. Tick volume shows activity, not who is in control.
Saying orders are "absorbed" or "exhausted" based only on volume and pivot position is speculative. You'd need more context, like price action or order flow, to confirm that kind of interpretation.
Thank you for the wisdom!
Would using multiple intraday time frames provide the needed context IYO. Upon looking at the USDJPY historical data. I could deduce the highest resistance level is always above the open price of the day and all the intraday time frames, and the lowest support level is always below the open price of the day and intraday time frames at the same time. When looking at the signals of the daily time frame and the intraday time frames, I deduced that the high of the day was always at the backend of a buy signal and at the front end of a sell signal, the lowest price of the day was always at the front end of a buy signal and at the backend of a sell signal. The front end of a signal buy or sell would be the breakout that would come after absorption and the backend of a signal buy or sell would come after a volume of exhaustion. Would this boolean acheieve this IYO? I really apreciate this learning experience.
BuySetUp = ((OpenPrice > PivotPointValue && OneDayVolumeOneBar > OneDayVolumeTwoBar)||(OpenPrice < PivotPointValue && OneDayVolumeOneBar < OneDayVolumeTwoBar)) && ((OpenPriceTwelveHour > PivotPointValueTwelveHour && TwelveHourVolumeOneBar > TwelveHourVolumeTwoBar)||(OpenPriceTwelveHour < PivotPointValueTwelveHour && TwelveHourVolumeOneBar < TwelveHourVolumeTwoBar)) && ((OpenPriceEightHour > PivotPointValueEightHour && EightHourVolumeOneBar > EightHourVolumeTwoBar)||(OpenPriceEightHour < PivotPointValueEightHour && EightHourVolumeOneBar < EightHourVolumeTwoBar)) && ((OpenPriceSixHour > PivotPointValueSixHour && SixHourVolumeOneBar > SixHourVolumeTwoBar)||(OpenPriceSixHour < PivotPointValueSixHour && SixHourVolumeOneBar < SixHourVolumeTwoBar)) && ((OpenPriceFourHour > PivotPointValueFourHour && FourHourVolumeOneBar > FourHourVolumeTwoBar)||(OpenPriceFourHour < PivotPointValueFourHour && FourHourVolumeOneBar < FourHourVolumeTwoBar)) && ((OpenPriceThreeHour > PivotPointValueThreeHour && ThreeHourVolumeOneBar > ThreeHourVolumeTwoBar)||(OpenPriceThreeHour < PivotPointValueThreeHour && ThreeHourVolumeOneBar < ThreeHourVolumeTwoBar)) && ((OpenPriceTwoHour > PivotPointValueTwoHour && TwoHourVolumeOneBar > TwoHourVolumeTwoBar)||(OpenPriceTwoHour < PivotPointValueTwoHour && TwoHourVolumeOneBar < TwoHourVolumeTwoBar)) && ((OpenPriceOneHour > PivotPointValueOneHour && OneHourVolumeOneBar > OneHourVolumeTwoBar)||(OpenPriceOneHour < PivotPointValueOneHour && OneHourVolumeOneBar < OneHourVolumeTwoBar)) && ((OpenPriceThirtyMinute > PivotPointValueThirtyMinute && ThirtyMinuteVolumeOneBar > ThirtyMinuteVolumeTwoBar)||(OpenPriceThirtyMinute < PivotPointValueThirtyMinute && ThirtyMinuteVolumeOneBar < ThirtyMinuteVolumeTwoBar)) && ((OpenPriceTwentyMinute > PivotPointValueTwentyMinute && TwentyMinuteVolumeOneBar > TwentyMinuteVolumeTwoBar)||(OpenPriceTwentyMinute < PivotPointValueTwentyMinute && TwentyMinuteVolumeOneBar < TwentyMinuteVolumeTwoBar)) && ((OpenPriceFifteenMinute > PivotPointValueFifteenMinute && FifteenMinuteVolumeOneBar > FifteenMinuteVolumeTwoBar)||(OpenPriceFifteenMinute < PivotPointValueFifteenMinute && FifteenMinuteVolumeOneBar < FifteenMinuteVolumeTwoBar)) && ((OpenPriceTwelveMinute > PivotPointValueTwelveMinute && TwelveMinuteVolumeOneBar > TwelveMinuteVolumeTwoBar)||(OpenPriceTwelveMinute < PivotPointValueTwelveMinute && TwelveMinuteVolumeOneBar < TwelveMinuteVolumeTwoBar)) && ((OpenPriceTenMinute > PivotPointValueTenMinute && TenMinuteVolumeOneBar > TenMinuteVolumeTwoBar)||(OpenPriceTenMinute < PivotPointValueTenMinute && TenMinuteVolumeOneBar < TenMinuteVolumeTwoBar)) && ((OpenPriceSixMinute > PivotPointValueSixMinute && SixMinuteVolumeOneBar > SixMinuteVolumeTwoBar)||(OpenPriceSixMinute < PivotPointValueSixMinute && SixMinuteVolumeOneBar < SixMinuteVolumeTwoBar)) && ((OpenPriceFiveMinute > PivotPointValueFiveMinute && FiveMinuteVolumeOneBar > FiveMinuteVolumeTwoBar)||(OpenPriceFiveMinute < PivotPointValueFiveMinute && FiveMinuteVolumeOneBar < FiveMinuteVolumeTwoBar)) && ((OpenPriceFourMinute > PivotPointValueFourMinute && FourMinuteVolumeOneBar > FourMinuteVolumeTwoBar)||(OpenPriceFourMinute < PivotPointValueFourMinute && FourMinuteVolumeOneBar < FourMinuteVolumeTwoBar)) && ((OpenPriceThreeMinute > PivotPointValueThreeMinute && ThreeMinuteVolumeOneBar > ThreeMinuteVolumeTwoBar)||(OpenPriceThreeMinute < PivotPointValueThreeMinute && ThreeMinuteVolumeOneBar < ThreeMinuteVolumeTwoBar)) && ((OpenPriceTwoMinute > PivotPointValueTwoMinute && TwoMinuteVolumeOneBar > TwoMinuteVolumeTwoBar)||(OpenPriceTwoMinute < PivotPointValueTwoMinute && TwoMinuteVolumeOneBar < TwoMinuteVolumeTwoBar)) && ((OpenPriceOneMinute > PivotPointValueOneMinute && OneMinuteVolumeOneBar > OneMinuteVolumeTwoBar)||(OpenPriceOneMinute < PivotPointValueOneMinute && OneMinuteVolumeOneBar < OneMinuteVolumeTwoBar)); SellSetUp = ((OpenPrice < PivotPointValue && OneDayVolumeOneBar > OneDayVolumeTwoBar)||(OpenPrice > PivotPointValue && OneDayVolumeOneBar < OneDayVolumeTwoBar)) && ((OpenPriceTwelveHour < PivotPointValueTwelveHour && TwelveHourVolumeOneBar > TwelveHourVolumeTwoBar)||(OpenPriceTwelveHour > PivotPointValueTwelveHour && TwelveHourVolumeOneBar < TwelveHourVolumeTwoBar)) && ((OpenPriceEightHour < PivotPointValueEightHour && EightHourVolumeOneBar > EightHourVolumeTwoBar)||(OpenPriceEightHour > PivotPointValueEightHour && EightHourVolumeOneBar < EightHourVolumeTwoBar)) && ((OpenPriceSixHour < PivotPointValueSixHour && SixHourVolumeOneBar > SixHourVolumeTwoBar)||(OpenPriceSixHour > PivotPointValueSixHour && SixHourVolumeOneBar < SixHourVolumeTwoBar)) && ((OpenPriceFourHour < PivotPointValueFourHour && FourHourVolumeOneBar > FourHourVolumeTwoBar)||(OpenPriceFourHour > PivotPointValueFourHour && FourHourVolumeOneBar < FourHourVolumeTwoBar)) && ((OpenPriceThreeHour < PivotPointValueThreeHour && ThreeHourVolumeOneBar > ThreeHourVolumeTwoBar)||(OpenPriceThreeHour > PivotPointValueThreeHour && ThreeHourVolumeOneBar < ThreeHourVolumeTwoBar)) && ((OpenPriceTwoHour < PivotPointValueTwoHour && TwoHourVolumeOneBar > TwoHourVolumeTwoBar)||(OpenPriceTwoHour > PivotPointValueTwoHour && TwoHourVolumeOneBar < TwoHourVolumeTwoBar)) && ((OpenPriceOneHour < PivotPointValueOneHour && OneHourVolumeOneBar > OneHourVolumeTwoBar)||(OpenPriceOneHour > PivotPointValueOneHour && OneHourVolumeOneBar < OneHourVolumeTwoBar)) && ((OpenPriceThirtyMinute < PivotPointValueThirtyMinute && ThirtyMinuteVolumeOneBar > ThirtyMinuteVolumeTwoBar)||(OpenPriceThirtyMinute > PivotPointValueThirtyMinute && ThirtyMinuteVolumeOneBar < ThirtyMinuteVolumeTwoBar)) && ((OpenPriceTwentyMinute < PivotPointValueTwentyMinute && TwentyMinuteVolumeOneBar > TwentyMinuteVolumeTwoBar)||(OpenPriceTwentyMinute > PivotPointValueTwentyMinute && TwentyMinuteVolumeOneBar < TwentyMinuteVolumeTwoBar)) && ((OpenPriceFifteenMinute < PivotPointValueFifteenMinute && FifteenMinuteVolumeOneBar > FifteenMinuteVolumeTwoBar)||(OpenPriceFifteenMinute > PivotPointValueFifteenMinute && FifteenMinuteVolumeOneBar < FifteenMinuteVolumeTwoBar)) && ((OpenPriceTwelveMinute < PivotPointValueTwelveMinute && TwelveMinuteVolumeOneBar > TwelveMinuteVolumeTwoBar)||(OpenPriceTwelveMinute > PivotPointValueTwelveMinute && TwelveMinuteVolumeOneBar < TwelveMinuteVolumeTwoBar)) && ((OpenPriceTenMinute < PivotPointValueTenMinute && TenMinuteVolumeOneBar > TenMinuteVolumeTwoBar)||(OpenPriceTenMinute > PivotPointValueTenMinute && TenMinuteVolumeOneBar < TenMinuteVolumeTwoBar)) && ((OpenPriceSixMinute < PivotPointValueSixMinute && SixMinuteVolumeOneBar > SixMinuteVolumeTwoBar)||(OpenPriceSixMinute > PivotPointValueSixMinute && SixMinuteVolumeOneBar < SixMinuteVolumeTwoBar)) && ((OpenPriceFiveMinute < PivotPointValueFiveMinute && FiveMinuteVolumeOneBar > FiveMinuteVolumeTwoBar)||(OpenPriceFiveMinute > PivotPointValueFiveMinute && FiveMinuteVolumeOneBar < FiveMinuteVolumeTwoBar)) && ((OpenPriceFourMinute < PivotPointValueFourMinute && FourMinuteVolumeOneBar > FourMinuteVolumeTwoBar)||(OpenPriceFourMinute > PivotPointValueFourMinute && FourMinuteVolumeOneBar < FourMinuteVolumeTwoBar)) && ((OpenPriceThreeMinute < PivotPointValueThreeMinute && ThreeMinuteVolumeOneBar > ThreeMinuteVolumeTwoBar)||(OpenPriceThreeMinute > PivotPointValueThreeMinute && ThreeMinuteVolumeOneBar < ThreeMinuteVolumeTwoBar)) && ((OpenPriceTwoMinute < PivotPointValueTwoMinute && TwoMinuteVolumeOneBar > TwoMinuteVolumeTwoBar)||(OpenPriceTwoMinute > PivotPointValueTwoMinute && TwoMinuteVolumeOneBar < TwoMinuteVolumeTwoBar)) && ((OpenPriceOneMinute < PivotPointValueOneMinute && OneMinuteVolumeOneBar > OneMinuteVolumeTwoBar)||(OpenPriceOneMinute > PivotPointValueOneMinute && OneMinuteVolumeOneBar < OneMinuteVolumeTwoBar));and also would you also say my market analysis is correct, incorrect or just not quiet there?

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Hi! I wanted to ask if someone could help me understand my logic better. Is it incorrect to interpret:
Volume[1] > Volume[2] && Open[0] > Pivot Point
// Sell orders have been absorbed and now the market is in a bullish direction
Volume[1] < Volume[2] && Open[0] > Pivot Point
// buy orders have been exhuasted
Volume[1] > Volume[2] && Open[0] < Pivot Point
// buy orders have been absorbed and now the market is in a bearish direction
Volume[1] < Volume[2] && Open[0] < Pivot Point
// sell orders have been exhuasted
This is where tick based volume is used, so the volume being measured is the number of price changes?