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VSA for ThinkorSwim
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VSA for ThinkorSwim

  #321 (permalink)
Elite Member
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I didn't code it. I just posted it. I took out the cheat sheet because it wouldn't fit in the post.
In general, the strength of a symbol is assigned by its color and shape in that order. In certain circumstances a symbol's vertical offset from its candle's top or bottom strengthens the symbol's meaning. The symbol strength hierarchy is defined as follows:

# 1. Color: Symbols below candles are assigned strength from weakest to strongest in this order: white (or grey), cyan (blue/green), green. A red symbol under a candle indicates the failure of the symbol attached below the candle immediately preceding it.
# Symbols above candles are assigned strength from weakest to strongest in this order: yellow, orange, red. A green symbol above a candle indicates the failure of a symbol attached above the candle immediately preceding it. A magenta (pinkish purple) square above a candle is a special case indicating Distribution. Another special case for testing purposes as of 20100830 is a white triangle high above a candle indicating a Gravestone Doji.
# Symbols drawn on the middle of a candle are of two types with one variation. A green circle indicates Effort to Move Up on up bars. A magenta (pinkish purple) circle indicates Effort to Move Down on down bars except for red down bars on which magenta displays poorly. In order to be seen easily, yellow circles indicate Effort to Move Down on red down bars.

# 2. Shape: A symbol of a given color is assigned increasing strength according to this hierarchy (from low to high): circle, square, triangle, downward or upward arrow. In certain circumstances two symbols of the same shape and color will be stacked vertically, adding strength through the combined symbols. Occasionally, two different symbols will be stacked vertically because that candle satisfies the criteria for two indications.

# Listed below are the symbols and their meanings. The original symbol chart can be found at the end of this study.

# ___Symbols Below Candles___
# White Square - Test for Supply
# Cyan Circle - No Supply
# Cyan Triangle - Successful Test for Supply
# 2 Cyan Triangles - Successful Test for Supply 2

# Grey Square - Test for Supply in Uptrend

# Green Circle - Stopping Volume

# Cyan Square - Strength in Downtrend
# Green Square - Strength in Downtrend 1
# Green Triangle - Strength in Downtrend 2
# Green UpArrow - Strength Confirmation Bar
# 2 Green UpArrows - Strength Confirmation Bar with High Close
# Red Square - Failed Strength Signal


# ___Symbols in the Middle of Candles___
# Green Circle - Effort to Move Up
# Magenta Circle - Effort to Move Down
# Yellow Circle - Effort to Move Down on Red Down Candles

# ___Symbols Above Candles___
# White Triangle - Gravestone Doji (included as an experiment as of 20100830 to test its usability in the UpThrust category)
# Yellow Triangle - Weakness

# Orange Circle - No Demand
# Orange Square - PseudoUpThrust
# Orange Triangle - PseudoUpThrust Confirmation

# Red Square - UpThrust
# Red Triangle - Confirmed UpThrust Condition 1
# Red DownArrow - Confirmed UpThrust Condition 2 or 3
# Green Square - Failed UpThrust or PseudoUpThrust Confirmation

# Red Circle - Reversal Likely
# Magenta Square - Distribution
# Magenta Triangle - Two or Three Period UpThrust

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  #322 (permalink)
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StockJock View Post
Has anyone used the VPA or VSA indicators and made profit? I'd like to hear from some members who have used them that are willing to share some of their successful analysis - how and when the indicator helped them to make the decision to buy or sell.

I used it for a few weeks to help me better understand the concepts.
I don't have it on my charts now. I mostly trade on tests for supply and demand
as seen through the market profile.

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  #323 (permalink)
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Massive Thanks again for the concise info. It will be helpful...


It has so many variables for one indicator! Looks like it will take some time to sort out the symbols and check out accuracies and meanings of the alerts... Have you used the indicator? Any observations re reliability and consistency of the alerts?

Re yr comment; "The original symbol chart can be found at the end of this study", was that just part of something you quoted or was a link really supposed to be there? If there is an existing chart, maybe I can build on that instead of starting from scratch. (I haven't been very successful googling for the chart.)

thanks and best regards,

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  #324 (permalink)
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There's no need to know the original symbols IMO.

You can find the code I posted with any missing information from cb in this thread under vsa 3.
That's the latest and greatest.

I don't use the indicator now that I understand the VSA concepts but the 'test for supply'
is money for the daily, 4hr, and 1hr charts.


Last edited by Massive l; May 9th, 2011 at 01:16 AM.
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  #325 (permalink)
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I'm interested


StockJock View Post
Has anyone used the VPA or VSA indicators and made profit? I'd like to hear from some members who have used them that are willing to share some of their successful analysis - how and when the indicator helped them to make the decision to buy or sell.

Maybe some day but not yet...

Looks like the VPA approach is getting more and more popular with many people, particularly in liquid markets. Appearantly, next to pure price trading, this is the second purest almost naked trading approach- thus many practitioners don't even use indicators. But some do. I guess the question is if anyone uses them for actual mechanical entries /exits... One fairly long-running thread I ran into where people are posting their VPA-approachy trades is at vsa with Malcolm - Page 4 @ Forex Factory I have not yet had the time to look into it throughly... Maybe you've been there already. Could be another place to post your question since it is a fairly active thread... With all the attention given to indicators- and VPA indicators, in particular, time spent coding them and porting them and talking about them, wouldn't it be extremely peculiar if someone somewhere was not actually making some money with them? Maybe not, maybe they are educational tools only? On the other hand, intuitively, I feel like VPA must be the only way to make money (trading) with or without indicators. Except for fundementals and big market trends, since price and volume are the only primary data; how else could one approach trading somewhat rationally, so VSA VPA and Market Profile will just have to do, right?

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The following user says Thank You to ulgolog for this post:
 
  #326 (permalink)
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Guys, I can use some help. Maybe it's my lack of sleep, but I just imported the most recent VPA study from Massive, and I get no symbols whatsoever. What might be the reason? Thanks.

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  #327 (permalink)
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It could be as simple as having the "show study" box checked. Studies -> Edit Studies -> highlight VPA -> on the right side under options make sure show study is checked.

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  #328 (permalink)
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I have some questions about the input settings for VPA. Why is the default for low close factor .25? Shouldn't this be .3? Also what do gdoji factor and wick factor indicate?

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  #329 (permalink)
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YertleTurtle View Post
It could be as simple as having the "show study" box checked. Studies -> Edit Studies -> highlight VPA -> on the right side under options make sure show study is checked.

Thank you YertleTurtle. It is indeed checked. I'm going to delete it and try again...

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  #330 (permalink)
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For what its worth I'm getting some indicators in strange places. I'll post screenshots when I have a chance.

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