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Two Line Trading
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Two Line Trading

  #151 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
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Hey Andrew and Fredy - check out this volume bar . It was a KNOCKOUT punch that finished the bears . Only a few small ticks from my support level too .

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  #152 (permalink)
Senior Member
sea side
 
Futures Experience: None
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Posts: 217 since Dec 2009
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Eric,

great !
Seems that was point where big money reversed.
Is that secret what horizontal lines drawn at your chart ?
Let me guess, Swing H/L, yesterday's OCHL, right ? and something else ?

Krgds,
Andrew


Eric j View Post
Hey Andrew and Fredy - check out this volume bar . It was a KNOCKOUT punch that finished the bears . Only a few small ticks from my support level too .


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  #153 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
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Thats the secret , see it ? Like Cunparis will tell you as well , horizontal support and resistance is a TANGIBLE level , price has been there before . There is a reason price reacts at that price , I dont care why I just care where .

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  #154 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received

But I do believe in fibs too . I agree about the self fulfilling prophecy as well . See how price stalled at the 62% level ? With a rising cluster of volume bars . As Im watching it price is floundering at the 50% level 10557 - Will it drop back down from there ?. Like I said , I dont care why I just care where .

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  #155 (permalink)
Senior Member
sea side
 
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Eric,

Price been on daily charts ?

Krgds,
Andrew


Eric j View Post
Thats the secret , see it ? Like Cunparis will tell you as well , horizontal support and resistance is a TANGIBLE level , price has been there before . There is a reason price reacts at that price , I dont care why I just care where .


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  #156 (permalink)
Senior Member
sea side
 
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Posts: 217 since Dec 2009
Thanks: 86 given, 25 received

I believe only in different kind of 50 and 100 % fibs
However I heard that some system could be made based on fibs drawn from correct highs and lows intraday.
I just prefer "simple things"

P.s. well, I'm off for today, but would be eager to see you buddies tomorrow again

Krgds,
Andrew


Eric j View Post
But I do believe in fibs too . I agree about the self fulfilling prophecy as well . See how price stalled at the 62% level ? With a rising cluster of volume bars . As Im watching it price is floundering at the 50% level 10557 - Will it drop back down from there ?. Like I said , I dont care why I just care where .


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  #157 (permalink)
Senior Member
sea side
 
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Posts: 217 since Dec 2009
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Fredy !

I got crazy idea which forced me to wake up and write it to you immediately
What are best 2 things we like most of all ?
Price and volume
and how is name of your thread ? two lines
so...
We see price, right and we see volume, right and we want to see how it exactly correlates and works in tandem, right ?
well...
in that case we have to take price and volume and plot it, right ?
but ...
price is above, volume is below and we want also to see how volume affects price, we want to see inflow and outflow and better of all we want to see where is big volume come in and out, right ?

but we will need help of Cunparis and Cclsys as they are our computer wizards
and Eric to say if all ok.


that was "pre-market"
The idea is very simple
To plot on each price bar dot where the most of volume appeared
that dot should show tick in price bar where biggest for all of that price bar volume was
then from each that dot marked on price bar plot line to next dot at next price bar.
i.e. it's like PVP but for each single price bar, whereas simple line plotted from each that dot to each price bar will show peak volume dynamic
it will go together with dynamic of price
anyway both of them price and volume is dynamic, right ?
but we had that in "different dimensions", that's why it was not so obvious, however we already did some findings

that is first step, then we will be able to "upgrade" that idea in order it showed more about volume dynamic and then...I hope we will come to our 2 stage - ranges, we will be able to tie up completely functioning volume indicators with ranges.

that's it
market can not function without 2 things subdivided by additional 2 things
market can not function without price and volume
and market can not function without inflow/outflow

Buddies, hope you will join and help to build that bicycle

P.s. can I stop on that and crazy idea about ranges will offer for discussion after we will make working all that stuff

Krgds,
Andrew

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  #158 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
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cunparis View Post
Google COTs timer. He has an automated system based on the COT. It's pretty simple, I've programmed it into tradestation and it does work but I don't trade it.

Andrew did you check it out?

Here's a link to his latest results:

COTs Timer Portfolio


Quoting 
CLOSED TRADES
- 30-year U.S. Treasury bond (short): +9.0% between Dec. 21 and Dec. 28 (using 300% leveraged fund)
- S&P 500 (short): -16.0% between Nov. 2 and Dec. 23 (using 200% leveraged fund)
- Gold bullion (short): +8.5% between Dec. 1 and Dec. 21 (using 200% leveraged fund)
- Natural gas (short): -34.7% between Nov. 23 and Dec. 21 (using 200% leveraged fund)
- U.S. financials (long): -2.7% between Nov. 9 and Dec. 14 (using 300% leveraged fund)
- Canadian financials (long): -0.4% between Nov. 9 and Dec. 14 (using 200% leveraged fund)




I previously said that profiting from the COT data is extremely difficult and I think his recent results show this. Overall he is probably profitable but it's not easy, there are setbacks and drawdowns.

Here are a few posts by me on his blog. I've noticed a change in character in the S&P report as more commercials move from the large pit contract to the emini and I think that will totally mess with any system based on the report. I told COTStimer of this and we disagreed on the point. But when I see -16% I think it is an issue.

COTs Timer: S&P 500 Smart Money Super-Pumped, Wrong-Way Traders Super-Edgy Commitments of Traders|Cracking the Market Code/>

I know of 3 traders who use the COT and if you count me that makes 4. What's interesting is we often all disagree on interpreting the data, and we all use different methods for analyzing it. This is why I say the COT data is extremely difficult to use. There are head games, fakes, etc. and the market is constantly changing. Since it's on a weekly basis you really have to have deep pockets to trade with it. And that leads to large drawdowns which are no longer a part of my trading.

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  #159 (permalink)
Trade with the flow
Paris, France
 
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Andrew View Post
The idea is very simple
To plot on each price bar dot where the most of volume appeared

There is an indicator for this and an excellent discussion. It's in the VIP section. It's well worth hundreds of dollars. I'm not currently using it but it's on my list of things to do. It's called volume ladder.

I really like this thread because you guys are very creative and you participate. Keep it going guys.

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  #160 (permalink)
Elite Member
Brisbane, Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus/Zen-Fire
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nanobiotech's Avatar
 
Posts: 670 since Jun 2009
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Hi Fredy & everyone

I note that the discussion has strayed somewhat from Fredy's first post onto an interesting discussion on volume. I have been observing 4 different instruments using 15 minute charts each day for a few hours up to the cash open (I'm 15 hrs ahead of US EST). In a Workspace I have the 4 charts set up for discretionary on-chart trades using a simple 10T profit and 10T stop, and for each chart I have a simple strategy for the same instrument (I link each pair of charts so can easily change instruments) in the upper left corner calling the outside bar and inside bar pattern when the 3rd bar starts forming, with a yellow line an an audio signal. I don't presently consider volume, but I also have the VolumeUpDown indicator on the chart as from what you say, I may eventually see some useful volume patterns.

The signals are often infrequent, therefore using multiple instruments at once is sensible. These signals seem to be much more common in pre-market times than after the cash opens.

In the past 2 hours or so there have been several signals and all were profitable. I haven't analysed the results but >70% profitable is probably close.

My questions are:

1. Are any of you trialling Fredy's simple outside/inside bar signal without looking at volume? I'm not sure I am convinced that volume is reliable enough to confirm or avoid an outside/inside bar signal, but I'm very receptive to suggestions.
2. Can anyone code an indicator that paints the outside bar and generates an audio signal? This would be more efficient than using a strategy chart as I am at present.

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