Thanks for the good thread on Volume. I am not good at volume analysis, but I am using some of ur concepts regularly. My trades are based on Market Profile. Did u use these volume patterns together with market profile, I mean the developing day type, Breakout from IB etc.
I have tried the VolumePatterns in the downloads and it does looks great, but there is a flaw or draw back.
I want to add this to my chart in which I have a paint bar indicator. But in the VolumePatterns settings, when I set the "paintbars" to false, it makes my chart a plain bar chart and my separate paint bar indicator does not show (not working).
What I would really like to have is just the VolumePattern indicator to be on the bottom panels only, and not have it painted at all on my graph and use my current paint bar indicators. Could this be recoded to accommodate?
For the $67 NT version at Emini-Watch, would that have this option I am looking for?
Hi, the fix is really simple, you just comment out the line that says "BarColor = Color.Empty". recompile and give it a try. I think I had that but then there was a problem with something else I cannot remember.
The better volume at emini watch is free but it's for tradestation. The "volume patterns" you're referring to is my version of the HVC & Low Volume patterns for Ninjatrader.
If you cannot get the paintbar issue fixed please let me know and I'll fix it for you and post it here. I don't currently have this indicator installed on my NT7 or I'd do it right now.
Also note that I no longer use the HVC pattern as I have a more reliable way of detecting professional activity.
lynx21 you pretty much nailed it on the head. Everyone wants to buy the low and sell the high. My first mentor told me that your first goal is TRY to take about 30% of the move, then you would be on your way to be considered in the PRO category. I think everyone should take that into consideration....
You try to hit home-runs every time, your gonna have a hard time being consistently profitable. Trading for a living is not to make 100k in one day... Its a grind. Slow and easy, and you will see your account grow. You'll then see that at the end of the week, those profits add up. Then you can increase size slowly once you build your account, then pay yourself weekly just like any other job.
When i first became profitable, my goal was to make a lousy $50 a day, but do it consistently. Once i did that, it increased my confidence, and i knew it could be done. I built my account, increased size, then i started paying myself. If you can make even $20 a day consistently, then your on your way. Think about that.
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I have no doubt volume is important but only in conjunction with other factors - such as double tops, support/resistance etc. Also it would seem that it may not apply equally to all timeframes as who know at a particiluar instant which timeframe traders are in control
I dunno if someone has mentioned it before (its like 50 pages long)... but regarding your "who know at a particiluar instant which timeframe traders are in control" question, I would say you go and read "Mind Over Markets" because it's covered in there.
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