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VSA for ThinkorSwim
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VSA for ThinkorSwim

  #61 (permalink)
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Trading Range - Support & Resistance Lines

In Jim Forte's article "Anatomy of a Trading Range" he has a diagram showing the support lines A & B and the resistance lines C & D. These seem to be similar to pivot points; however, these lines are based on Richard Wyckoff's concept of Volume Spread Analysis. So my question is, does anyone know of an indicator that plots these S/R lines as Wyckoff would have shown them?

Attached Thumbnails
VSA for ThinkorSwim-anatomy-trading-range.pdf  
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  #62 (permalink)
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Help with the Better Volume Indicator

I've loaded this indicator into my TOS platform and I've been studying the color coded volume bars and how their pattern matches patterns shown in Barry's video from emini.com for the TradeStation platform and also the videos for the TradeGuider platform. Although I'm examining stock and/or forex in these videos and looking for some simularities in patterns in the indicator for TOS and I don't see any. Yes, there are color bars, but in some locations that don't make sense.

The TOS version of the Better Volume Indicator from ThinkScripter which was originally developed by Barry Taylor at EminiWatch for TradeStation should have color bars in the same locations on their charts when using the same stock symbol. I would like to ask anyone who has both TradeStation and ThinkOrSwim to load the attached indicator code files into these platforms and help show me how they look in both platforms. I would appreciate a reply with screen shot of the charts using the same stock ticker on a 1 minute 1 day chart from both platforms to check to see if the TOS translation is working correctly. Your assistance with this is appreciated, since I don't have the TradeStation platform to test with by myself.

Attached Files
Register to download File Type: zip TradeStation BETTER_VOLUME_25JAN09.zip (281.8 KB, 82 views)
Register to download File Type: txt TS_BetterVolume_Indicator.txt (7.0 KB, 170 views)
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  #63 (permalink)
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Anatomy of a Trading Range



StockJock View Post
In Jim Forte's article "Anatomy of a Trading Range" he has a diagram showing the support lines A & B and the resistance lines C & D. These seem to be similar to pivot points; however, these lines are based on Richard Wyckoff's concept of Volume Spread Analysis. So my question is, does anyone know of an indicator that plots these S/R lines as Wyckoff would have shown them?

I don't know of such an indicator but appreciate you posting the link which I'll check out this week. Thanks.

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  #64 (permalink)
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Better Volume Indicator


StockJock View Post
I've loaded this indicator into my TOS platform and I've been studying the color coded volume bars and how their pattern matches patterns shown in Barry's video from emini.com for the TradeStation platform and also the videos for the TradeGuider platform. Although I'm examining stock and/or forex in these videos and looking for some simularities in patterns in the indicator for TOS and I don't see any. Yes, there are color bars, but in some locations that don't make sense.

The TOS version of the Better Volume Indicator from ThinkScripter which was originally developed by Barry Taylor at EminiWatch for TradeStation should have color bars in the same locations on their charts when using the same stock symbol. I would like to ask anyone who has both TradeStation and ThinkOrSwim to load the attached indicator code files into these platforms and help show me how they look in both platforms. I would appreciate a reply with screen shot of the charts using the same stock ticker on a 1 minute 1 day chart from both platforms to check to see if the TOS translation is working correctly. Your assistance with this is appreciated, since I don't have the TradeStation platform to test with by myself.

I don't have Tradestation so I can't offer any assistance here. Thanks for the links, though, which provide an abundance of material on something totally new to me - the Better Volume Indicator. I'll check it out as I continue to work with the VSA indicator.

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  #65 (permalink)
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StockJock View Post
I've loaded this indicator into my TOS platform and I've been studying the color coded volume bars and how their pattern matches patterns shown in Barry's video from emini.com for the TradeStation platform and also the videos for the TradeGuider platform. Although I'm examining stock and/or forex in these videos and looking for some simularities in patterns in the indicator for TOS and I don't see any. Yes, there are color bars, but in some locations that don't make sense.

The TOS version of the Better Volume Indicator from ThinkScripter which was originally developed by Barry Taylor at EminiWatch for TradeStation should have color bars in the same locations on their charts when using the same stock symbol. I would like to ask anyone who has both TradeStation and ThinkOrSwim to load the attached indicator code files into these platforms and help show me how they look in both platforms. I would appreciate a reply with screen shot of the charts using the same stock ticker on a 1 minute 1 day chart from both platforms to check to see if the TOS translation is working correctly. Your assistance with this is appreciated, since I don't have the TradeStation platform to test with by myself.

I have both. I will take a look later this week.

Regards,
-C

Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat. - Sun Tzu
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  #66 (permalink)
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snowcloud View Post
I don't know of such an indicator but appreciate you posting the link which I'll check out this week. Thanks.

Download the attached pdf document. It has the complete story straight from the author - Jim Forte's article "Anatomy of a Trading Range". Thanks for your help.

Attached Thumbnails
VSA for ThinkorSwim-anatomy-trading-range.pdf  
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  #67 (permalink)
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There seems to be some similarities between the VSA Indicator and the Better Volume Indicator.

VSA Indicator's Color Legend


cbritton View Post
The following list should help decoding the signals as I tried to make it easier to locate where each symbol is in relation to the bar.

On top of Bar:

Yellow Triangle
High volume Downbar after an upmove on high volume indicates weakness.
Blue Circle
Reversal possible, yesterday was high volume wide spread up bar, but today we reached 10 days high with low close wide spread down bar.
Red Triangle
UpThrust confirmation.
Blue Triangle
A Down Bar closing down after a Pseudo Upthrust confirms weakness.
Blue Square
Psuedo UpThrust, A Sign of Weakness /OR/ A High Volume Up Bar closing down in a uptrend shows Distribution /OR/ No Demand.
On bottom of bar:

Aqua Triangle
High volume upbar closing on the high indicates strength (in short term down trend).
Deep Pink Square
Test for supply.
Green Square
Strength bar (either strength is showing in down trend or a supply test in up trend).
Green Circle
Stopping volume. Normally indicates end of bearishness is nearing /OR/ No supply.
Yellow Triangle
An Upbar closing near High after a Test confirms strength.
Green Triangle
The previous bar saw strength coming back, This upbar confirms strength.

On the median of the bar:

Turquoise circle
Effort to Rise. Bullish sign.
Yellow circle
Effort to Fall. Bearish sign.

Regards,
-C

Better Volume Indicator's Color Legend


Quoting 
YELLOW - Low volume for the size of the bar - Amateurs at work
WHITE - Climax down
BLUE - Climax up
RED - Churn - Pros buying at lows or unloading at highs
MAGENTA - Climax Churn - Pros taking profits at highs or lows
GRAY - Normal (default) Bar

Buying Climax which will mark the end of a rising market
Selling Climax and will mark the low point of the trend

My question is what the programming logic comes from because I'm doing a lot of study on this top too. Does the VSA indicator have its background in something like the MTA Journal's article "Wyckoff Tests-Nine Classic Tests For Accumulation" in its Spring 2001 Issue or is there some other document from which to derive program logic? See attached pdf document. The VSA Indicator is a very sophishicated code.

Also as a side note, I see that the Golden Gate University has courses in the Wyckoff Method. See attached course syllabus. Possibly other academic institutions are doing this also for their Business Schools.

Attached Thumbnails
VSA for ThinkorSwim-wyckoff-tests-nine-classic-tests-accumulation.pdf   VSA for ThinkorSwim-finance-354-wyckoff-method-i.pdf   VSA for ThinkorSwim-finance-355-wyckoff-method-ii.pdf  

Last edited by StockJock; August 22nd, 2010 at 03:45 PM.
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  #68 (permalink)
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StockJock View Post
My question is what the programming logic comes from because I'm doing a lot of study on this top too. Does the VSA indicator have its background in something like the MTA Journal's article "Wyckoff Tests-Nine Classic Tests For Accumulation" in its Spring 2001 Issue or is there some other document from which to derive program logic? See attached pdf document. The VSA Indicator is a very sophishicated code.


The original code for the NT version came from a posting on the NT forums which eventually got posted on this site. I converted this code to ToS but, being new to VSA as well, I could not confirm the source for the NT version's author. However, there's no doubt that his understanding of VSA is thorough. It would seem that the implementation is based solely on William's book and maybe even experience and/or confirmation with TradeGudier (however, this may be a stretch).

Thanks for posting the articles. It's good have a consolidation of materials on the subject.

Regards,
-C

Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat. - Sun Tzu
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  #69 (permalink)
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StockJock View Post
I've loaded this indicator into my TOS platform and I've been studying the color coded volume bars and how their pattern matches patterns shown in Barry's video from emini.com for the TradeStation platform and also the videos for the TradeGuider platform. Although I'm examining stock and/or forex in these videos and looking for some simularities in patterns in the indicator for TOS and I don't see any. Yes, there are color bars, but in some locations that don't make sense.

The TOS version of the Better Volume Indicator from ThinkScripter which was originally developed by Barry Taylor at EminiWatch for TradeStation should have color bars in the same locations on their charts when using the same stock symbol. I would like to ask anyone who has both TradeStation and ThinkOrSwim to load the attached indicator code files into these platforms and help show me how they look in both platforms. I would appreciate a reply with screen shot of the charts using the same stock ticker on a 1 minute 1 day chart from both platforms to check to see if the TOS translation is working correctly. Your assistance with this is appreciated, since I don't have the TradeStation platform to test with by myself.

I compared the code between the EL and ToS version and I found a number of discrepencies. I detailed some of these below. There may be others.

The EL code defines the range as the high-low. The ToS version defines the range at the beginning of the code as the true range:

def Range = TrueRange(high,low,close);

The EL version defines value1 as this:

 
Code
                            
If BarType or UseUpTicks False then begin
    
If and Range <> 0 then Value1 = (Range/(2*Range+O-C))*UpTicks;
If 
and Range <> 0 then Value1 = ((Range+C-O)/(2*Range+C-O))*UpTicks;
    If 
O then Value1 0.5*UpTicks;
    
Value2 UpTicks-Value1;
End;
If 
BarType <= and UseUpTicks then begin
    Value1 
UpTicks;
    
Value2 DownTicks;
End
The ToS version is this:

 
Code
                            
def Value1 = if (close >= open,Volume * ((Range) / ((2+(Range*Range)/10) * Range + (open close))),
Volume * (((Range close open)) / (2+(Range*Range)/10) * Range + (close open))); 
I'm not sure what BarType is in EL. Maybe the difference between time based and tick charts? Anyways, the ToS version assumes a BarType > 1, whatever that is, or UseUpTicks is false based on the calculation. I'm not sure why Range is squared in the denominator for the if statement or where the author got that function from, but it does not match the EL version. Also, ToS does not have a upTick or downTick value (that I know of), so the calculation for value1 and value2 are already off. Maybe the use of squaring the range is supposed to back into the upTick and downTick values? If so, the author did not show how he came up with that.

Value3 is also incorrect, but may be innocuous.

Value3 = AbsValue(Value1+Value2);

def Value3 = Value1 + Value2;


value3 should be:

def Value3 = absvalue(Value1 + Value2);

Condition11 is incorrect

If Use2Bars then begin
Condition11 = Value13 = Lowest(Value13,Lookback);
...

def Condition11 = if (Use2Bars and (Value13==Lowest(Value13,Lookback) and close > open and Close[1] > Open[1]),1,0);


The ToS version should be

def Condition11 = if (Use2Bars and (Value13==Lowest(Value13,Lookback)),1,0);

Condition13 is incorrect

Condition13 = Value15 = Highest(Value15,Lookback) and C > O and C[1] > O[1];

def Condition13 = if (Use2Bars and (Value15==Highest(Value15,Lookback) and close > open and Close[1] < Open[1]),1,0);


Should be close[1] > open[1] and not Close[1] < Open[1].

Conditions 14, 15 and 20 are incorrect.

Condition14 = Value16 = Highest(Value16,Lookback) and C < O and C[1] < O[1];
Condition15 = Value17 = Highest(Value17,Lookback) and C < O and C[1] < O[1];
Condition20 = Value22 = Highest(Value22,Lookback);

def Condition14 = if (Use2Bars and (Value16==Lowest(Value16,Lookback) and close < open and Close[1] < Open[1]),1,0);
def Condition15 = if (Use2Bars and (Value17==Lowest(Value17,Lookback) and close < open and Close[1] < Open[1]),1,0);
def Condition20 = if (Use2Bars and (Value22==Lowest(Value22,Lookback)), 1,0);


The function should be Highest, not Lowest.

Condition17 is incorrect

Condition17 = Value19 = Lowest(Value19,Lookback) and C < O and C[1] < O[1];

def Condition17 = if (Use2Bars and (Value19==Lowest(Value19,Lookback) and close > open and Close[1] < Open[1]),1,0);


The second criteria should be close < open, not close > open.

Another problem I found, I think, is the use of past reference. For example, value3[1] is referenced but value3 is a def, not a rec.

def Value13 = if (Use2Bars, Value3 + Value3[1],1);

So values 1, 2 and 3 should be set to rec, not def.

I did not look at the conditions for the plot yet since the above need to be fixed.

I can fix these problems and others I may find, but the biggest limitation is the lack of upTick and downTick data available for ToS. Without that, I think this indicator will never show charts matching the EL version. Regardless, this discussion should really be in another thread.


Regards,
-C

Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat. - Sun Tzu
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  #70 (permalink)
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Yes, I agree, because I verified with thinkScript support that at this time TOS does not provide split price or split volume data. That is, TOS doesn't have the buy and sell volumes and the buy and sell prices that would ordinarily come from the Time And Sale Gadget. When they make this available for thinkScript, it would make VSA indicators more powerful.

Thanks for your effort in analyzing it. It seemed that something was wrong. The thinkScripter forum has code for the paid subscribers, but I don't see how their version of this translation could be any better for stated reasons. This same buy and sell split data is what is needed for the Point & Figure (PnF) charts. These charts, I have read, provide the supply and demand information in another format than VSA. I'll continue to study VSA to use with TOS; however, QuoteTracker is a free platform and some of the providers provide free (20 minute delayed) data. QuoteTracker has the ability to display PnF charts built into it. Although PnF is another topic, it is closely related to VSA in that they both are studies of supply and demand.

As for VSA, I have found a number of pdf documents that discuss the concept. Would this be the correct thread to post them for members to read?

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