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PriceActionSwing discussion
Started:November 23rd, 2009 (11:23 AM) by dorschden Views / Replies:391,731 / 1,343
Last Reply:December 1st, 2016 (04:53 AM) Attachments:423

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PriceActionSwing discussion

Old May 9th, 2010, 11:42 PM   #51 (permalink)
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Hello dorschden :

I was wondering if in your next release you could provide an option to display the "average swing volume" in the swings. What I mean is this:

Your indicator calculates the "volume" in a swing. It also calculates the "number of bars" in the swing.

Can you add an option to display : "Avg Swing Volume" = Swing Volume / number of bars in the swing.

Thank you.

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Old May 10th, 2010, 10:54 AM   #52 (permalink)
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Ganymed View Post
Dorschden, how to you get the arrows?

Hello Heinz,

this was only a quick screenshot of one of my trading charts, so this arrows are discretionary and only show points of interest for me.

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Old May 10th, 2010, 10:58 AM   #53 (permalink)
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vegasfoster View Post
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.


FR5050 View Post
Can you add an option to display : "Avg Swing Volume" = Swing Volume / number of bars in the swing.

Hello vegasfoster and FR5050,

I add an option to show the relative volume swing. Download the new version (here).

Edit: NT7 bug fixed - now it works fine in NT7


Last edited by dorschden; May 10th, 2010 at 06:06 PM. Reason: NT 7 bug
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Old May 10th, 2010, 12:37 PM   #54 (permalink)
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Thanks man! I have been using it today with pretty good results. Until I have more practice reading it I have only been using it to determine when not to trade as opposed to using it as an entry signal, but so far it has kept me out of 2 bad trades. Good work.

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Old May 11th, 2010, 05:56 PM   #55 (permalink)
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Are you a NinjaTrader user?

 
Excellent information and indicator!! thanks for the suggestion. I'm not a programmer myself but I know of a few that I can use to play around with this idea. Great to run into this!

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Old May 11th, 2010, 07:05 PM   #56 (permalink)
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Just out of curiosity guys , how do you take trades based on this indicator ? and what do all these values mean ?
Thank you for your time
soumi

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Old May 19th, 2010, 05:40 PM   #57 (permalink)
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low volume retracements

The average volume function is interesting... seems to sometimes work well for identifying low volume retracements. Similar concept to VSA but using swings instead of bars.

Looking back at a charts, low volume retracements seem to be worth noting, but since I'm looking at completed swings with 20/20 hindsight, I may be overestimating their usefulness.

A signal might go something like this:


1) a just-completed swing has a lower average volume than either of the previous 2 swings, and at least 30% less volume than the most recent swing in that same direction

2) the current unfinished swing has a higher average volume than the just-completed low volome swing

3) generate continuation signal in direction of current unfinished swing

Anyone else have thoughts or ideas about this?

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PriceActionSwing discussion-priceactionswing-low-volume-retracements.jpg  

Last edited by GoldStandard; May 19th, 2010 at 05:42 PM. Reason: to upload chart
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Old May 19th, 2010, 06:28 PM   #58 (permalink)
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I think sometimes you may get a clue about the potential trend reversal if you monitor volume at high nodes in uptrend (and vice versa for downtrend) ...... in the middle of your chart you have several highs with ~vol=4500 and the last high had 2800 .... at this point you may want to reconsider long trades until you get confirmation that uptrend is still live and kickin' .....

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Old May 20th, 2010, 12:50 PM   #59 (permalink)
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Dorschden: Thank you very much for adding relative volume to the indicator. It looks great.


Goldstandard:

Check out my posts #41 and #42. Ord volume webisite has a lot of info on how to use the average volume of swings in trading.

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Old May 20th, 2010, 06:10 PM   #60 (permalink)
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Hi FR5050 - thanks for the reminder. Yes, Ord appears to be one of the first to talk about relative volume on swings. He doesn't seem to do a lot with the concept any more though, at least not in his recently posted charts and articles.

His criteria of re-testing an important hi/lo on less than 50% average volume seems to produce some OK setups according to the limited amount eyeball backtesting I have done reviewing charts, but it happens very infrequently.

I think measuring relative volume on swings could be useful in more situations, and on smaller timescales than Ord uses. Maybe not as a setup by itself, but perhaps as a filter in combination with other factors to identify good candidates for pullback trades.

I suspect that a low volume pullback swing followed by higher volume move in the trend direction would offer a measurable advantage, but it would take some coding to find out.

I was actually hoping I could entice Dorschden or another reader of this thread into adding this to PriceActionSwing so we could do some visual backtesting with it.

In any event, the volumes by themselves are useful. An extremely weak or strong average volume swing is definitely worth paying attention to.






FR5050 View Post
Dorschden: Thank you very much for adding relative volume to the indicator. It looks great.


Goldstandard:

Check out my posts #41 and #42. Ord volume webisite has a lot of info on how to use the average volume of swings in trading.


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