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How to use volume in your trading
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How to use volume in your trading

  #281 (permalink)
Big game hunter
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Silvester17 View Post
I like to trade breakouts using cycles and volume. think it's a pretty good combination.

I would listen to Silvester , he shed the light on volume for me . Thanks for that btw . The whole volume exhaustion / spike concept is so easy it almost doent seem like it should work but it does . Im pretty much insisting on volume confirmation fo all trades now .

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  #282 (permalink)
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VolumeStop 11-20-09

If you had used a range expansion value of 1.2 instead of default 1.3 you would have had the following signals today:

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If you had only taken the signals which occurred very close to Market Profile levels (Red, Blue and Green lines) you would have 7 signals total, 5 of which would likely have been profitable (assuming reasonable stop, scaling out, etc.). The 5 winners would have cleared (meaning you would have definitely been filled at) 10-ticks, 13 ticks, 5 ticks, 6 ticks and 10 ticks...



If you had kept the range expansion at default 1.3 you would not have had the first trade.

There are other filters which have proven good on historical data which if applied here would have eliminated one of the bad signals (the second loser at 14:29).

I will soon post an new version of the indicator in the members section which will have more filtering available, as well as will implement the additions which Cory mentioned a few posts back.

Ron


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The following user says Thank You to rsi77 for this post:
 
  #283 (permalink)
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Silvester17 View Post
I like to trade breakouts using cycles and volume. think it's a pretty good combination.

hey Silvester17

i am looking for a good cycle indicator

what is the name of the cycle indicator that you show in your chart?
is this indicator shareable?


ban.

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  #284 (permalink)
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This is good stuff. I'm going to have to go in there and play around. Volume is my priority these days and Cory's Volume StopIV is an excellent tool. I'd like to put in a few modes or something to compare different ways of determining the Vol stops to compare them. Thanks for bringing this up.

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  #285 (permalink)
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Re: "I like to trade breakouts using cycles and volume. think it's a pretty good combination" from Sylvester.

Impressive. You nailed many excellent trades there and it all makes sense on the chart. But now you got me curious:

What are you using for your Volume indicator? And while we're at it, the cycles?

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  #286 (permalink)
Trade with the flow
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cclsys View Post
I tried recoding BetterVolume2 for range charts because I was testing them out a lot this summer. Because they have the same range - or in Renko's case either the continuation range or the correction range 2* higher, many of the criteria don't really work because volume/range is a big part of it, well that still works, but also comparing ranges which doesn't.

I tried recoding it using time instead of range but sort of gave up. If you like, I can post my initial attempt which might give you ideas to improve it.

I actually have tick charts up with my volume indicators. It's not perfect, I'd prefer to have everything on one chart. And due to differing levels of market activity sometimes they match up better than others. But I haven't found a solution.

Last weekend I looked at range charts again. Renko & Range each have their advantages and disadvantages. I'm currently playing with a range chart this week (in addition to renko).

Can you explain your idea a little more? I do not understand what you're trying to do but it sounds interesting.

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  #287 (permalink)
Big game hunter
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cunparis View Post
I actually have tick charts up with my volume indicators. It's not perfect, I'd prefer to have everything on one chart. And due to differing levels of market activity sometimes they match up better than others. But I haven't found a solution.

Last weekend I looked at range charts again. Renko & Range each have their advantages and disadvantages. I'm currently playing with a range chart this week (in addition to renko).

Can you explain your idea a little more? I do not understand what you're trying to do but it sounds interesting.

Cunparis , Ive been trying out SbS renko for about a week now with volume and find it to be quite revealing in regards to volume patterns . Big problem I have with it is during high volume periods and the chart freezing while the bar(s) print . have you experienced the same thing ? Talked to Roonius about it and if my PC cant handle the tik data involved Im out of luck . Still reading my way through this thread and have learned loads from it , thanks .

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  #288 (permalink)
Trade with the flow
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Eric j View Post
Cunparis , Ive been trying out SbS renko for about a week now with volume and find it to be quite revealing in regards to volume patterns . Big problem I have with it is during high volume periods and the chart freezing while the bar(s) print . have you experienced the same thing ? Talked to Roonius about it and if my PC cant handle the tik data involved Im out of luck . Still reading my way through this thread and have learned loads from it , thanks .

it's funny cause a couple people told me they're using renko now and today I threw up a range chart for CL trading!

I'm using tick charts for volume information. I like that better. Renko & range charts can stay open for a long time. By using tick charts it's like peeking inside the range/renko bar. The problem is which timeframe? I have 3 and sometimes they conflict. So it can be confusing.

The thing I like about renko is it smooths out the price, which is very useful for determining cycles. I'll be talking about this in the cycles thread.

The thing I like about range is it shows you the little S/R levels which make good entries. for little scalps. It also lets you put stops in a better place.

So far my compromise is this:

renko for cycles
range for little S/R breakout entries
tick charts for volume

I'm still working out the details. That's 7 charts for CL. But I think it may be easier to glance at a chart and see one thing and do that 3-4 times rather than try and get 3-4 things out of one chart.

It's a work in progress.

For your performance.. I haven't noticed sbsrenko being slower. Make sure you use a minimum of indicators (always good advice hehe) and those that you do, use COBC = true if you can. Have as few instruments as you can.

I have 9 charts in tradestation, 4 charts in Ninja, 2 DOMs in Ninja and it works pretty well most of the time for me. At 9:30 or around news it bogs down but I don't trade then anyway.

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  #289 (permalink)
Big game hunter
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cunparis View Post
it's funny cause a couple people told me they're using renko now and today I threw up a range chart for CL trading!

I'm using tick charts for volume information. I like that better. Renko & range charts can stay open for a long time. By using tick charts it's like peeking inside the range/renko bar. The problem is which timeframe? I have 3 and sometimes they conflict. So it can be confusing.

The thing I like about renko is it smooths out the price, which is very useful for determining cycles. I'll be talking about this in the cycles thread.

The thing I like about range is it shows you the little S/R levels which make good entries. for little scalps. It also lets you put stops in a better place.

So far my compromise is this:

renko for cycles
range for little S/R breakout entries
tick charts for volume

I'm still working out the details. That's 7 charts for CL. But I think it may be easier to glance at a chart and see one thing and do that 3-4 times rather than try and get 3-4 things out of one chart.

It's a work in progress.

For your performance.. I haven't noticed sbsrenko being slower. Make sure you use a minimum of indicators (always good advice hehe) and those that you do, use COBC = true if you can. Have as few instruments as you can.

I have 9 charts in tradestation, 4 charts in Ninja, 2 DOMs in Ninja and it works pretty well most of the time for me. At 9:30 or around news it bogs down but I don't trade then anyway.

Yeah , without indicators sucking up cpus is better . The sbs finds some interesting formations that dont show up on tick or minute charts .

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  #290 (permalink)
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cunparis View Post
I actually have tick charts up with my volume indicators. It's not perfect, I'd prefer to have everything on one chart. And due to differing levels of market activity sometimes they match up better than others. But I haven't found a solution.

Last weekend I looked at range charts again. Renko & Range each have their advantages and disadvantages. I'm currently playing with a range chart this week (in addition to renko).

Can you explain your idea a little more? I do not understand what you're trying to do but it sounds interesting.

The idea is that with range charts the range - by definition - is always the same, so some of the BV conditions just don't work - like if it's the max or min range of lookback period && xx.

So I thought to substitute speed for range (using RPM), i.e. if the speed is max or min during the lookback period. I have a hard time going through the code though because everything is abstract (cond1, cond2, Value 1, value2, value3 etc.) so I just haven't had the patience to rewrite it in a way that I can understand later what each condition is.

But I suspect substituting speed for range with range charts will work quite well. Probably not with Renkos because they have different ranges on reversal bars, but the reversal bar is information enough in that format, probably - although again speed would be additional info on that bar, i.e. did it turn around rapidly or very slowly? That can be known and incorporated into the Volume indicator in terms of volume/speed or speed* volume or something.

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