Cory, I just want to extend my gratitude for creating such a great indicator. Here it is on an ES 377 Tick chart. This is with an IB efeed and they bundle their ticks so it is similar to a regular feed of a much greater # of ticks.
I would like to understand the indicator better. If you look at the diagonal arrow you will note a diamond on an hvc. I thought that diamonds only occurred on low volume candles and that is why they are not very reliable. Would you please explain as I think that if I understnd the indicator better I will be able to use it more efficiently.
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The following user says Thank You to Royal Flush for this post:
triangle = 3 volume bars and 3 price bars meet slope down/ slope up criteria,
diamond = any 2 out of 3 volume bars and 3 price bars meet slope down/ slope up criteria thus the weaker signal.
if my explanation about volume slope down/slope up is insufficient try the new ebook 'mastering your trade' from tradershelpdesk.com it may explain the concept of volume slope better.
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Thanks Cory, do you have a favorite type of chart that you use the VolStop on to trade ES, if so would you please share it? I like to use it for S/R levels setting stops 1 tick beyond the dots to sweep me in when S/R is broken, plus as a setup of course. I presently use it on 2 Tick charts, a 4 Range chart and a 5 Min chart.
Last edited by Royal Flush; November 29th, 2012 at 05:56 PM.
I am a big fan of this indicator. I trade ES and German index. I would like to know if it is possible to have a version that it will show when a volume bar has more of 65% buy or sell.
I.E.: If a 5 minutes chart has a volume bar that sell > than buy, it will give an alert and vice versa for buy.
Why I am asking that? I notice that when the indicator gives an alert and the volume bar has more than 65% buy/sell the signal is more reliable.
Last edited by kavklov; January 13th, 2013 at 01:49 PM.
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