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.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
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.
The following 2 users say Thank You to cory for this post:
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.
The following user says Thank You to kavklov for this post: