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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action
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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action

  #111 (permalink)
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There are some differences between the elite version and that of David Weis. Weis's version is more precise or identifies each wave correctly.

@trendisyourfriend

I think WeisWave and PriceActionPro are both very similar, however the only difference I noticed in relation to wave count is how they are calculated.

I use PriceActionPro and I compared my charts to some of the charts that are posted using WeisWave and what I noticed is that the Wave counts done by PriceActionPro used the first close if two or more bar closes fall on the same price, and WeisWave uses the last bar close when two or more closes fall on the same price to count wave count.

Attached two ES 3500 Tick chart from 8/3 one with Weis counts and the other with PriceActionPro and you can see where there is a difference with WeisWave I put circled. (circled one are from WeisWave). The difference is due to the fact that for those bars the closes fall on the same price and both indicators calculates slightly differntly as explained above.

If some one can modify PriceActionPro where we can calculate the wave count for the last close if two or more closes fall on the same price we can match it to WeisWave. Iím no programmer and I requested in the forum if some one can let me know how to change it, but there are no takes at this point. (post #1503, https://futures.io/ninjatrader/1272-priceactionswing-discussion-151.html)

Attached Thumbnails
The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-ww-count.png   The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-paprocount.png   The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-priceactionpro-parameters.png   The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-pas-pro-swing-cal-change-request.png  
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  #112 (permalink)
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sudhirc View Post
@trendisyourfriend



I think WeisWave and PriceActionPro are both very similar, however the only difference I noticed in relation to wave count is how they are calculated.



I use PriceActionPro and I compared my charts to some of the charts that are posted using WeisWave and what I noticed is that the Wave counts done by PriceActionPro used the first close if two or more bar closes fall on the same price, and WeisWave uses the last bar close when two or more closes fall on the same price to count wave count.



Attached two ES 3500 Tick chart from 8/3 one with Weis counts and the other with PriceActionPro and you can see where there is a difference with WeisWave I put circled. (circled one are from WeisWave). The difference is due to the fact that for those bars the closes fall on the same price and both indicators calculates slightly differntly as explained above.



If some one can modify PriceActionPro where we can calculate the wave count for the last close if two or more closes fall on the same price we can match it to WeisWave. Iím no programmer and I requested in the forum if some one can let me know how to change it, but there are no takes at this point. (post #1503, https://futures.io/ninjatrader/1272-priceactionswing-discussion-151.html)



Does this matter as proportionally they are the same? It's my understanding it's the comparison of waves rather than numbers that's important?


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  #113 (permalink)
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rassi View Post
Does this matter as proportionally they are the same? It's my understanding it's the comparison of waves rather than numbers that's important?

Agree. Likewise both indicators are lagging, they only 'know' the swing volume once the swing has been broken by the subsequent trigger bar, so not worth worrying much about. All charts look better in the middle of the page than they do near the right hand edge. This is a great thread though, many thanks @Feibel and all questioners.

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  #114 (permalink)
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ES 7th August 17

Wyckoff and VSA principles at play in today's action:

Spring set up
VSA no supply setup
Sign of strength (SOS) Bar
5m climatic bar?
Wyckoff thinking - background conditions (core component)

and a little on tick data and market behaviour 3 pushes....

PDF attached (3 pages)

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  #115 (permalink)
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ES 8th August 17

Wyckoff and VSA principles at play into today's action:

VSA no supply setups x 2 (tests)
Spring
Wyckoff Classic setup (rally back to ice)
Change of Behaviour
Waves
No demand
Trend Channels

and price action aberration (comes into play 150 mins later)

PDF attached (3 pages)

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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action-es080817-1.pdf  
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  #116 (permalink)
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ES 9th August 17

Wyckoff and VSA principles at play in today's action:

Climatic Bar
Wave set ups x2
Trend Channel confluences
Spring setup
No demand rally
No demand set up

PDF attached (3 pages)

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  #117 (permalink)
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ES 10th August 17

Wyckoff and VSA principles at play in today's action:

Classic Wyckoff setup (rally back to ice)
Classic trend trading setups (weak rallies to a confluence level)
Testing upthrust setup
Waves
No demand (multiple)
Reverse use of trend line

PDF attached (3 pages)

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  #118 (permalink)
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ES 11th August 17

Wyckoff and VSA principles at play in today's action:

Change of behaviour
Shortening of the upthrust
Upthrust setup (perfect back ground conditions)
Apex setup (readable)
Waves

PDF attached (3 pages)

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  #119 (permalink)
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Feibel View Post
Wyckoff and VSA principles at play into today's action:

VSA no supply setups x 2 (tests)
Spring
Wyckoff Classic setup (rally back to ice)
Change of Behaviour
Waves
No demand
Trend Channels

and price action aberration (comes into play 150 mins later)

PDF attached (3 pages)

You identified a change of behavior and did not take this trade (see red arrow), Why???

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  #120 (permalink)
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@trendisyourfriend

Good question.

Firstly my attention is via the tick chart at this point. However, using the 5m chart if we analyse the bars from the red arrow going 6 back (inclusive) we gather much info

Bar 1 - Widespread with high volume, closes well off the lows, mid bar, a little climatic. Why climatic? By comparing and contrasting is the key, look at the selling from the cluster of closes (purple highlight) we slip down with no real volume, bar 1 prints with twice the volume mid bar - indicates buying . Does this action make sense? yes - were at support right back into the middle of the apex. Bars A to D we have established as demand, this area we would have to class as a buying zone

Bar 2 - negativity, closing weak under bar 1, volume reduced (weakness)

Bar 3 - no downside follow through, we end up closing firm deep into bar 2 on reduced volume. (Strength) Looking to the left, these 3 bars do not have enough force to break through the buying zone

Bar 4 - buying with increased volume (strength)

Bar 5 - no supply test , dips down finds no further selling reverses back to close higher than previous bar on lower volume - this confirms that bar 1 is indeed stopping volume/mini climatic action (strength)

Bar 6 - volume spikes, breaks supply line to close back under, but what does the bar actually achieve? with all that volume we close level with the previous bar (neither weak or strong) .

If one wanted to trade this bar we cannot forget the background conditions, there is a climatic bar right beneath us (bar 1) which is strength. Bar 6 is hinting that some kind of pullback is possible yet the potential move is only for 2 points.

The rally from the change of behaviour from my perspective is too quick, too strong, the market is uncertain - we break an apex, market shows no follow through, we round over start to fall, then we get some climatic behaviour/stopping volume in a previous area of demand. I need to see the lack of demand.

Hope this helps,

F


Last edited by Feibel; August 12th, 2017 at 08:41 PM.
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