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NexGen indicators and review (www.nexgent3.com)


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NexGen indicators and review (www.nexgent3.com)

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  #61 (permalink)
Market Wizard
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cory View Post
there are many ways to Rome, some likes horse some likes bike.


Wasn't aware that the Romans used bikes.

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  #62 (permalink)
Market Wizard
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drmartell View Post
Yes the group that I referred to is defunct.

There are some traders with whom I stay in touch. Personally I have 'evolved'? to the point that I think it is crazy to day trade without volume and order flow information. How some people can make money with the Nexgen software is beyond me and I am ok if it stays that way.

I don't mean this critically, it just isn't the answer for me personally.


You hit that nail right on its head. I use some elements for my trading, which are comparable to the NEXGEN approach

- A MACD type oscillator (cmp. MACDBBLines)
- Keltner Channels (idem)
- trendfilters (cmp. large and small trigger lines)
- fibonacci confluence zones

So the method is somehow similar, but I do use two elements that I have rarely found on their charts

- volume analysis (climax bars, churn bars, low volume bars)
- spread analysis ( narrow range and inside bars)
- floor pivots and support and resistance created by expansion bars

It is just a question, which elements you select and how you put them together.

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  #63 (permalink)
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Wuudi View Post
Anyway I'm confident that it is possible to trade without volume, what else can you do as Forex trader... there is no volume..

Good point, you are on a more even playing field in that case, although you could also factor in the volume on the related futures contracts that are available. . .

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  #64 (permalink)
Market Wizard
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drmartell View Post
Good point, you are on a more even playing field in that case, although you could also factor in the volume on the related futures contracts that are available. . .

Note that FOREX volume can be approximated with tick volume. Many FOREX retails firms actually transmit volume information based on ticks.

And yes, tick volume can be exploited in a similar fashion as real volume.

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  #65 (permalink)
Italy
 
 
Posts: 14 since Aug 2010
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Well, there is even better volume available. For instance from esignal or from Dukascopy. On Dukascopy you can also get the bid/ask volume, but I haven't figured out a way to make a useful addition to my trading set ...

Maybe you have some articles you suggest ?

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  #66 (permalink)
London UK
 
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Hello guys,

I am also a Nexgen user and I begin to become profitable after using it one year. I do not respect too all the setups from the Nexgen pro room, and I would be very interested in joining a trading group sharing some informations and trading tips with Nexgen.

Can you please tell me more about the existing group?

Thanks.

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  #67 (permalink)
London UK
 
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Hi Wuudi,

Thanks for the informations, I will connect this afternoon. Unfortunately, I can not send private messages on this site, that's why I am answering you here.
My training period at Nexgen is indeed finished. I trade several markets, but I am mainly focusing on 6E contract for the moment.

See you in the room...

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  #68 (permalink)
Italy
 
 
Posts: 14 since Aug 2010
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Yes that is because you need some more posts, till you can send PM.

Looking forward to meet you. I trade the 6E (as spot EURUSD) mostly too, tough i have other currency pairs on my screens too..

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  #69 (permalink)
Washington, DC
 
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Fat Tails View Post
You hit that nail right on its head. I use some elements for my trading, which are comparable to the NEXGEN approach

- A MACD type oscillator (cmp. MACDBBLines)
- Keltner Channels (idem)
- trendfilters (cmp. large and small trigger lines)
- fibonacci confluence zones

So the method is somehow similar, but I do use two elements that I have rarely found on their charts

- volume analysis (climax bars, churn bars, low volume bars)
- spread analysis ( narrow range and inside bars)
- floor pivots and support and resistance created by expansion bars

It is just a question, which elements you select and how you put them together.

Can you expand on how you might do the volume analysis?

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  #70 (permalink)
Market Wizard
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dnwong View Post
Can you expand on how you might do the volume analysis?

I use a better volume indicator. I look for climax bars (wide range, high volume) that are followed by churn bars (narrow range, high volume), then a failed breakout from the range generated by the climax bar to signal a potential trend reversal.

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