Trading With Market Statistics I. Volume Histogram

rsi77 · #21 07-27-2008, 01:52 PM

Thanks Nick,

I found one of the indicators, and I will keep looking for others. It seems this could be very useful.

Ron

jperl · #22 07-27-2008, 02:10 PM

Originally Posted by rsi77

Thanks,

The screenshot he showed looked very nice. I think Ensign isn't too expensive, and it works with Infinity AT, so maybe I'll give it a try.

Does TS do this same thing well? If so do you know the indicator name?

thanks again,

Ron

Ron, before you get too deep into TS, you might want to check the new thread by Frank in the coding forum concerning TS and market profile problems.

rsi77 · #23 07-27-2008, 04:28 PM

Jerry,

First of all thahks for your posts--very informative. Secondly, are the ensign indicators that you use available with the software, or did you develop those by yourself?

Thanks,
Ron

jperl · #24 07-27-2008, 05:01 PM

Originally Posted by rsi77

Jerry,

First of all thahks for your posts--very informative. Secondly, are the ensign indicators that you use available with the software, or did you develop those by yourself?

Thanks,
Ron

The volume histogram is available in Ensign. When I started these threads, VWAP and SD were not available, so I wrote them myself. Now both are available in Ensign.

akifusenet · #25 06-27-2009, 08:59 AM

Hi Jerry and everybody here at TL,

As this is my first message I think first I have to say that TL is the best place(information wise and attitude-wise) about trading which Ive seen upto now.

I began to read your threads (i am now at part2). While I was reading I want to practice on demo also to make things concrete. I am using MT4 platform which is in these days quite popular/easy to use and free.

But I couldnt find any Volume histogram indicator (especially on y-axis which you have in your ensign charts) or any PVP indicator. I managed to find a VWAP indicator. For PVP and volume histogram I think I can use the MP indicators as a base and modify them to use volume instead of price but that means digging into MQL files which I dont want to do right now. (eventually it will happen later i think).

So it looks like the MT4 crowd hasnt discovered you yet. Do you(or anybody here) have MT4 indicators for your tutorials (including future parts which I have not read yet). That will be great for me to start up.

I think Chimp is using MT4(Ive seen a video from his thread).Maybe he has them in his arsenal.

Again thank you Jerry for your all efforts which I am just discovering...

Akif,

BlowFish · #26 06-28-2009, 02:57 PM

I wonder if you are trading spot fx as you are using MT4? If you are I would be a bit wary, what is actually reported is bid ask changes rather then actual traded volume. It might be good enough, but for a technique that is entirely based on the statistical analysis of volume and price you might want to consider instruments where that is reported. (Even last price is a 'guesstimate' in FX).

akifusenet · #27 06-29-2009, 03:34 AM

Hi Blowfish,

Thank you for your answer.Can you elaborate more on what you mean by "bid ask changes".

I always hear about that volume in FX(or spot FX, is there any other FX type?) is untrustable. I was thinking it is untrustable because the only volume figure your broker can give you will be the volume that your broker handled(or made the transaction lets say). But i was thinking if you select a big company as your broker that volume should also reflect the worldwide volume(or interest lets say). Am I completely wrong?

For using MT4, I have a script which converts the metastock files of istanbul stock exchange EOD data into MT4 .hst files so i can make offline analysis. This would be my next question what do you guys think about using jerry's statistical techniques in stock exchange analysis.Especially if you have only EOD data?

Instead of using 2 minutes data selecting the day as the start maybe we can use daily data using the month as the start? What do you think? (or maybe instead of using a fix start we can use a sliding window concept?!)

( I hope I am not asking questions already asked as I have not yet read the whole threads)

Thanks again.

Akif,

BlowFish · #28 06-29-2009, 03:55 AM

No not completely wrong

It's one of those age old arguments. Going back to a statistical argument. People generally accept that the FX market is trillions a day, is a sample size of a few hundred thousand that a bookie conducts a significant sample?

IBFX is meant to be quite good as far as bucket shops go (for volume figures) so I opened an account with them. To me the volume just seems a bit 'off'.

The best thing would be try it and see (if you can find some indicators), or you could use the FX futures and a different package for charting (maybe ninja or sierra).

It could be that the way of sampling and recombining the data that are presented here might minimise inaccuracies, who knows?

JohnE · #29 06-06-2010, 09:31 PM

In one post Jpearl compares the Volume histogram high volume price( PVP) to the POC in market porofile......I want to get started on the right track while digesting these threads so Isn't the POC based on TIME where as the PVP is based on volume....a very big differnce sometimes.....

Is Jerry assuming most MP players now use Volume for their MP charts in stead of time...?

Thanks for any input

JE

BlowFish · #30 06-07-2010, 03:11 AM

In a later thread you will see some discussion on this. PVP is a statistical measure whereas POC is a heuristic approach. Whilst they look similar the ways that Jerry suggests using these statistical measures don't really share that much with the way people tend to use MP. The short answer to your second question is no.