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PriceActionSwing discussion
Started:November 23rd, 2009 (11:23 AM) by dorschden Views / Replies:392,738 / 1,346
Last Reply:December 7th, 2016 (10:04 AM) Attachments:423

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PriceActionSwing discussion

Old April 15th, 2010, 12:05 AM   #41 (permalink)
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Futures Experience: Intermediate
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Volume Swing II

Here some additional information to help explain the concept of measuring volume in swings. And how one can use it to make trading decisions.

A trader can add up the volume between the swing high and low and divide by the number of days in that swing to determine the average daily volume in that swing to determine the force in that swing. Then one would have to repeat that process with other swings and make a comparience to the other swings to determine which way the force is pushing.

To pick the strongest stock (in up-trend), average daily volume should shrink near 50% on correction phase compared to the rally phase.

To pick the weakest stocks (in downtrend) average daily volume should shrink near 50% on up phase compared to the declining phase.

A buy signal is triggered when a stock closes above a previous important low, where the current "AVG Volume" low shrinks near 50% or greater against the first important low. An "important Low" is when that low marks a bottom where the equity starts a sideways consolidation.

A sell signal is triggered when a stock closes below a previous important high where the current "AVG Volume" high shrinks near 50% or greater against the Important High. An Important High" is when that high marks a top where the equity starts a sideways consolidation.

Target price Projections:
An upside target for a buy signal will be the previous "Swing High". If volume is equal or great on the test of the previous high then the next higher swing high will be the target and so on.

A downside target after a sell signal will be the previous "Swing Low". If volume is equal or greater then the previous "Swing Low" then the next lower swing will be the target and so on.

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Old April 15th, 2010, 12:07 AM   #42 (permalink)
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Volume Swing III

Here is a link to an article that shows this concept visually in a chart form.

http://www.ord-oracle.com/pdffiles/PriceVolume.pdf

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Old April 15th, 2010, 07:23 AM   #43 (permalink)
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FR5050 View Post
I have a suggestion for this fantastic indicator that you have created. Can you add volume count to the swings. For example: Up swing A = 3000 contracts/shares / Downswing B = 1000 contracts/shares. ?

I think the volume of swings can be used as a great measure of the strength of the swing. And warn us of potential trend reversals or pauses.

FR5050, Thank you for this great suggestion. I'll implement some of this volume stuff in the next version.

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Old May 4th, 2010, 11:19 AM   #44 (permalink)
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I uploaded a new version (here). The ZigZagUTC mode is included again and a new mode that based on the parabolic stop and reverse (PSAR) indicator also included.

Now it's possible to show the complete volume of the swing and the duration.

I also added a second indicator called PriceActionSwingRelation. It shows the relation between price and swings. You can use it for other indicators or strategies. If PriceActionSwingRelation value is above 0 look for long entries because price made higher highs and higher lows or a double bottom - short vice versa.

PriceActionSwingRelation values:
-2 = DT
-1 = LL and LH
0 = price is nowhere
1 = HH and HL
2 = DB
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Old May 4th, 2010, 12:50 PM   #45 (permalink)
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Futures Edge on FIO

Are you a NinjaTrader user?

 
Dorchden:


WOW! the upgrades you made are just fantastic. Thank you very much for doing them. Thank you especially for including the volume swing. I also love the new swing relation indicator.

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Old May 6th, 2010, 09:44 PM   #46 (permalink)
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Very nice. I wonder how the High Volatility will fare with this method.

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Old May 7th, 2010, 09:21 AM   #47 (permalink)
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Explanation Statistics "PriceActionSwingRelation Indicator"

Hallo Doschden
First of all a great compliment to your indicator.
Where can I find a detailled explanation for the Xtras Statistic Explanation on the TopLeft? Also how can I hidden it?
Further how can I change the colors and numbers for the Fibs? Your indicator don't take my default settings from my NT chart.
You can explain it also in German, I live in Switzerland.
Thanks
Heinz

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Old May 7th, 2010, 12:31 PM   #48 (permalink)
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Ganymed View Post
Where can I find a detailled explanation for the Xtras Statistic Explanation on the TopLeft? Also how can I hidden it?
Further how can I change the colors and numbers for the Fibs? Your indicator don't take my default settings from my NT chart.

Hello Heinz,

I updated the first post of this thread there are some information about the indicator and an explanation of the statistic. You can hidden the statistic in the parameter list in the category "Xtras" and set the statistic entry to false.

All Fibonacci retracements and extensions should have the settings of your default ones from Ninjatrader. Make sure you save your settings after you change them in the NT retracement/extension window. Works fine by me in NT 6.5 and 7. See attached screenshot.
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Old May 8th, 2010, 06:19 AM   #49 (permalink)
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Dorschden, thanks for the answer, how to you get the arrows?
Heinz

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Old May 9th, 2010, 05:32 AM   #50 (permalink)
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yeah, that's pretty sweet, i like it. the thing with this is that there will be a natural tendency to have lower volume with fewer bars, so I wonder what the implications are if it takes 15 bars with total volume of 1500 to create a swing high, but 25 bars with total volume of 2000 bars to return to the swing high when the price is in a horizontal channel. total volume is higher, but average volume is lower, so is a breakout more or less likely? or maybe an ema volume with the period set at the number of bars in the current swing would be more informative. or an sma volume based upon the range of movement regardless of the number of bars for when it is not moving in a nice channel. hmmm, lots to think about.

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