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thehaul
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Hey MK, DTN provides Net Volume as the ticker JVNT.Z I assume it's calculated UVOL - DVOL but don't hold me to it. Thx
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Just so no one says this first this idea only works on the days the Net Volume is sideways. Chop or consolidation days is where this could be helpful. Looking at the Market Profile, the overnight session or the previous days range will help define the days possible movement.
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I was wondering if anyone uses a graphical way at looking at the NYSE Net Volume. I've been looking at an Ergodic Histogram that's not effected by gaps. But it doesn't really work for the open because it uses the close of the previous day's sum. I guess I'm looking for something similar that starts it's calculation at market open. Any ideas if this is even valid. thx
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I relationship between the average and the 2 markets is something worth while I think!
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Good day today. I stuck to the rules, no counter trends. 5 wins and 3 stop outs on the es. 3 wins on the NQ. I've realized if I don't get filled or it doesn't look perfect on ES I can look at the NQ. The arrows are color coded, the yellow ones are stop outs. ***Both of the the two yellow arrows in the middle of the es chart should be pointing down to indicate failed shorts. The first one I tried to play the bounce off the short average, small loss, and the arrow at the top I moved my stop to close cuz of emotions. The last yellow arrow was pretty low probability now that I look at it. I was thinking it would bounce of the 3 averages but it shot right through. So, I got short on the NQ and rode that bronco for 12 ticks I think.
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I will post some charts later. But look at 3 different lengths of average on whatever the 3 min total volume is equal to on a volume chart. Meaning if the typical 3 min volume is x build a x volume chart. Look at average lengths of 11, 76, and 322. If price is below the 322 average the overall bias is short but I tend to use the 76 as a bias and the 322 for ultimate S/R. The highest probability days are when they're all lined up on top of each other. Just trade with their organization only. I trade a scalp and follow method - 3 contracts, 2 off at the first es point and 1 to trail. Most of the time I get stopped out on the last but sometimes I don't. I also use the previous days high, low and close, the overnight high and low and keep track of congestion areas from the day before and the day of.
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Very cool. Just fyi I never liked it as much on a min chart. The candles are typically too long that's why I use it with a range bar or volume chart. Why do you think it's buggy?
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Sounds like you're heading the right direction. I'm not sure how to code it but if the length is set to 4 then the average needs to have 4 points to take the average of the 4 before. So, as price moves on the line is static and plots a flat line based from the last calculation until it has the required 4 to make the next calculation.... i think thx!
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The ninja version is in the Ninja forums. http://www.ninjatrader-support2.com/vb/local_links.php?catid=1&sort=N&pp=15&page=8 click on the photo to download.
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Even the NQ had a good setup at the open.
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Jan 20, 2009 was a good day even for the Ninja version. It's crazy to me the volume spike didn't happen till the move was over. Maybe it's not crazy? Expected? The cyan arrow is the overnight low, I would think breaking that would of caused more selling volume. I guess everyone believed the Obama rally hype. I know I did when I first turned on the TV. It obvious there's plenty of trades on this chart. I look at it as the longer average is over the shorter so I just look for shorts. There's a few here. You just have to figure out what plan to follow. I like crosses of the shorter average and not rejections but on the longer I like rejections and not crosses. If that makes any sense.
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The real question is how you code it so it doesn't smooth with length is added. I will make a video of how the average works within multicharts to see if that sheds some light. We know there's some questionable code in the EL version it just happens to do some good things and some things that can't be answered. This is not a good place for an indicator. Trading should be built around solid mechanics and the user should understand exactly what's going on. I think this is my process now and thankfully Justlurkin is helping me out. There's lots of disciplines in this game. It's all about the one you decide works for you. I've started on this path and want to see it to the end and if the end is a cliff I'm ready to move to the next peak!
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If we were averaging the last swing hi/lo I think it would look like this.
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This is a 15127 volume chart so the Scalp fires less when there's a trend and fires more when it's cycling. You can see that in the average itself as the longer term average wiggles.
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Thanks for your efforts!
