VSA for ThinkorSwim - ThinkOrSwim Programming | futures io social day trading
futures io futures trading


VSA for ThinkorSwim
Updated: Views / Replies:169,389 / 429
Created: by cbritton Attachments:131

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 131  
 
Thread Tools Search this Thread
 

VSA for ThinkorSwim

  #131 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received

I've heard that Smart Money (SM or as Wyckoff called them the Composite Operator (CO)) consists of Market Makers, Specialists, Institutions, Large Traders (see The COT Report) who provide liquidity for Commercials hedging a market, and, with the ever advancing computer systems, Dark Pools, and the mathematical whizzes known as Quants. Wyckoff felt that an experienced judge of the market should regard the whole story that appears on The Tape as though it were the expression of a single mind. I think what he means is that it would be hard to identify the influences of each SM individually and it may be of little value to do so. He is saying that all we need to consider is that the market is being collectively influenced by SM.

Reply With Quote
 
  #132 (permalink)
Elite Member
Sarasota, FL USA
 
Futures Experience: Advanced
Platform: TOS, NinjaTrader
Broker/Data: Mirus/Zenfire & TOS
Favorite Futures: ES
 
Posts: 22 since Sep 2010
Thanks: 0 given, 17 received

It's Simple; It's just not that easy...

Snow,

Let me give you a simple framework for success. Simplicity is elegant. Principals trump algorithms.

1) You only trade "with" the Commercials (aka "syndicate traders, OTF (Other Time Frame), "Smart Money", central bankers, institutional investors).
2) You only trade Accumulation and Distribution ...and then, only when Wyckoff's classic tests are satisfied and the market is in balance (Auction Market Theory).

That's it.

You position size by fixed fractional (Kelly) and you constantly measure your performance.

It's simple; it's just not that easy.

However, the only thing you need to write thinkscript for ...are studies that help you recognize Wyckoff's classic tests. (Oh yeah, you've got to understand the Volume Profile. But it can made simple ...and you don't have to do any programming.)

Think about it. (Think Wyckoff though ...not VSA ...VPA ...VRA!)
Steve

Reply With Quote
The following user says Thank You to swimtrader for this post:
 
  #133 (permalink)
Trading for Fun
LA, CA
 
Futures Experience: Advanced
Platform: Infinity, IB, TOS
Favorite Futures: currency futures
 
Posts: 93 since Jul 2010
Thanks: 2 given, 24 received



swimtrader View Post
So where's the better use of your precious time? Studying Wyckoff/Williams ...then looking for illustrative examples on your TOS chart ...or writing code?

That's a tough one. It gets into why you work hard and then share freely with others. You blog; you collaborate. All of that's a good thing ...but ...you decide.

There's merit, as you point out, in working through the examples and grinding through the code. I totally get that ...and you do too. Maybe that's enough reason to persevere.

Thanks for your thought-provoking post. At this point I'm dedicated to tweaking the VPA indicator for use as a tool in my own trading and for its educational value. I am grateful for having this forum to hear what other traders have to say about the VPA indicator in particular and about VSA/Wyckoff/Williams in general.

In my own case I am combining VPA with Fibs, S/R levels, and my own eyes on the 6e.

Thanks for your input!

Reply With Quote
 
  #134 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received

In these comparitive studies, I haven't heard either of you make reference to the Better Volume indicator. Do you guys have any comments about its accuracy? See attachments.

TS_BetterVolume (02/01/2010)
Time Averaging of Volume is calculated by
the Volume's Average over a lookback period

BetterVolume_STUDY (8/5/2010)
Time Averaging of Volume is calculated by
the Volume's Standard Deviation (STD),
the Volume's WildersAverage

VPAv1_06bSTUDY (09/01/2010)
Time Averaging of Volume is calculated by
the Volume's Exponential Moving Average (EMA),
the compoundValue of the EMA,
the STD of the EMA
and
the WildersAverage of the Price Spread

All three indicators use different volume averaging formulas and I'm not sure what the reasoning is behind that is; however, if the displayed colors and symbols provide the correct information that is all that matters. I think that after snowcloud collects everyone's feedback and makes his revisions, his should be the best indicator from this comparison.

swimtrader,
I tried looking for the discussion you referenced in the ThinkScripter forum about your participation in the development of the Better Volume indicator for TOS and I couldn't find it. The Better Volume indicator posted there is coded differently from the one you posted on this forum. In the code of the one you posted, there has been a lot of code removed compared to the one posted there. Do you have any information on that?

Attached Files
Register to download File Type: txt BetterVolume_STUDY.txt (3.6 KB, 201 views)
Register to download File Type: txt TS_BetterVolume_Indicator.txt (7.0 KB, 192 views)
Register to download File Type: txt VPAv1_06bSTUDY.txt (34.3 KB, 181 views)
Reply With Quote
 
  #135 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received

Attached is

Wyckoff Tests: Nine Classic Tests For Accumulation; Nine New Tests For Re-Accumulation

by Henry O. (Hank) Pruden, Ph.D.

Attached Thumbnails
VSA for ThinkorSwim-wyckoff-tests-nine-classic-tests-accumulation.pdf  
Reply With Quote
The following user says Thank You to StockJock for this post:
 
  #136 (permalink)
Elite Member
Sarasota, FL USA
 
Futures Experience: Advanced
Platform: TOS, NinjaTrader
Broker/Data: Mirus/Zenfire & TOS
Favorite Futures: ES
 
Posts: 22 since Sep 2010
Thanks: 0 given, 17 received

@ StockJock

Stock,

The discussion you're looking for is a members only one ...so you'd have to join. It was the most viewed and I've screen shot the thread - attached. I've discussed everything you're wanting to know there.

All the best,
Steve

Attached Thumbnails
VSA for ThinkorSwim-thinkscripter-forum.png  
Reply With Quote
 
  #137 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received

Ok. So this must be the one to use (BetterVolume_Study.ts), since there were 144 comments in the thread to develop it. Did they develop a ZigZag indicator? The one in TOS cannot be viewed.

Reply With Quote
 
  #138 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received

swimtrader,

In the Better Volume Indicator the colors for the High Volume Churn and the Price Churn are the same. I wonder if it would be better to have them different?

 
Code
 
BetterVolume.DefineColor("ClimaxUpColor", color.red);
BetterVolume.DefineColor("ClimaxDnColor", color.white);
BetterVolume.DefineColor("HighVolumeChurnColor", CreateColor(51, 102, 255));
BetterVolume.DefineColor("LowVolumeColor", color.yellow);
BetterVolume.DefineColor("ClimaxChurnColor", color.magenta);
BetterVolume.DefineColor("DefaultColor", CreateColor(51, 51, 51));
BetterVolume.DefineColor("PriceChurnColor", CreateColor(51, 102, 255));
BetterVolume.DefineColor("SpikeColor", color.cyan);
Also I was thinking about adding the color legend on the chart as labels.

 
Code
#
# *************************************************************
# INDICATOR'S COLOR LEGEND
# *************************************************************
AddChartLabel(yes, "Amateur Trading",  BetterVolume.color("LowVolumeColor"));
AddChartLabel(yes, "Smart Money Volume Churn", BetterVolume.color("HighVolumeChurnColor"));
AddChartLabel(yes, "Smart Money Price Churn", BetterVolume.color("PriceChurnColor"));
AddChartLabel(yes, "Climax Down", BetterVolume.color("ClimaxDnColor"));
AddChartLabel(yes, "Climax Up", BetterVolume.color("ClimaxUpColor"));
AddChartLabel(yes, "Climax Churn", BetterVolume.color("ClimaxChurnColor"));
AddChartLabel(yes, "Smart Money Spike", BetterVolume.color("SpikeColor"));
AddChartLabel(yes, "Normal", BetterVolume.color("DefaultColor"));
If snowcloud makes the revisions from all the user comments, his VPA indicator will be much more informative. I'm looking forward to the final results.


Last edited by StockJock; September 15th, 2010 at 11:00 PM.
Reply With Quote
 
  #139 (permalink)
Trading for Fun
LA, CA
 
Futures Experience: Advanced
Platform: Infinity, IB, TOS
Favorite Futures: currency futures
 
Posts: 93 since Jul 2010
Thanks: 2 given, 24 received

VPA Cheat Sheet

A trader sent me a Cheat Sheet for the VPA with the colors, shapes, definitions, and consensus meanings for the symbols. I modified it a bit and added the descriptions. You'll find that the descriptions on the Cheat Sheet don't match the ones you see on the screen because I haven't changed the code yet. The general meaning of each description is the same, however.

Attached Files
Register to download File Type: xlsx VSA Cheat Sheet_03.xlsx (15.2 KB, 277 views)
Reply With Quote
The following 2 users say Thank You to snowcloud for this post:
 
  #140 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received


Snowcloud,
I noticed one of the symbols on the chart looks like a triangle superimposed over a circle. Is that intended as a seperate symbol (combination) or are they suppose to individual symbols that just happened to land on each other?

Also, looking through the code, it appears that there's one alert option that is setoff for any and all symbols. Maybe users would like more control over which symbol sets off an alarm (i.e. a seperate alarm for each symbol that can be turned on/off)?


Last edited by StockJock; September 16th, 2010 at 12:24 PM.
Reply With Quote

Reply



futures io > > > > > VSA for ThinkorSwim

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Volume Spread Analysis (VSA) slumlord Traders Hideout 57 December 6th, 2017 01:19 AM
VSA indicator for MT4 sam1197 MetaTrader 12 December 21st, 2015 08:15 PM
VSA alexav Russian Traders 5 December 17th, 2012 05:03 AM
VSA in MC? TonyB MultiCharts 10 May 28th, 2011 11:37 AM


All times are GMT -4. The time now is 02:10 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.17 seconds with 20 queries on phoenix via your IP 54.163.209.109