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GOMI all NT7/8 & SC; MP & Orderflow @ Gomicators.com from original GOMI
Started:March 31st, 2016 (04:16 PM) by jmont1 Views / Replies:17,447 / 118
Last Reply:6 Hours Ago (08:28 PM) Attachments:51

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GOMI all NT7/8 & SC; MP & Orderflow @ Gomicators.com from original GOMI

Old June 23rd, 2016, 10:51 AM   #61 (permalink)
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now that we know what those features are, maybe a good thing would also be to give some examples how to use them. please keep in mind there're many different ways to do that and I don't consider myself as an expert.

one of the more common setups is a delta divergence. if the market goes down and you have a price bar with aggressive selling, but the bar closes higher, that would be a bullish divergence:

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now to make it even more interesting, we can look for a bar with a max delta of 0 (zero). that means the entire bar never had a positive delta. and also the higher the delta finish, the more I like it. in our example delta finish = delta (-1230) - min. delta (-1804) = 574. I also prefer not to have an unfinished auction in that price bar (price tends to revisit those levels)

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another interesting constellation is volume imbalance. you could use an operator threshold of 1, which means every level is highlighted and will give you a visual help to see the dominant order flow. you could also use a higher threshold which will show you strong bid/ask volume and could also be used as support and resistance levels. helpful in case of a pullback.

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also interesting are negative imbalance with price bar closing higher and positive imbalance with price bar closing lower. another kind of divergence:

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next we have the cot. especially this part is very interesting imo. quote from @gomi:


Quoting 
High positive HighCOT and high negative LowCOT can be used to spot potential reversals, because in both cases, a
lot of traders tried to aggressively take the price beyond the bar’s high and low, and failed.

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since I use range bars (closing price is always high or low), I will only get one cot. in up bars a low cot and in down bars a high cot. the other end (close) will be zero.

those were only a few examples and there're many more. hopefully we'll have some more contributors. maybe real experts like @ignacio90.

and finally a few things to remember. all the above mentioned setups should NEVER be taken blindly. there're days you'll get countless delta divergences. and many of them will result in a loss. without considering other factors, those divergences become unreliable. not any better than a nyse tick divergence

in my trading, I rely heavily on the daily vwap, but I'm also using quite a bit of discretion.

btw a good source is always market delta:

http://www.footprintchart.com/

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Old June 23rd, 2016, 01:22 PM   #62 (permalink)
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Old June 26th, 2016, 12:35 AM   #63 (permalink)
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Gomi,

Many thanks for the release of your products for Sierra.

One question (I have emailed you this as well but will post the same question here for others) - which Sierra package do you need to use your indicators ?

Since they effectively replace the built in numbers bars/footprints I am hoping we only need package 3 but I'll wait on the answer.

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Old June 26th, 2016, 02:51 AM   #64 (permalink)
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Silvester17 View Post

now to make it even more interesting, we can look for a bar with a max delta of 0 (zero). that means the entire bar never had a positive delta. and also the higher the delta finish, the more I like it. in our example delta finish = delta (-1230) - min. delta (-1804) = 574. I also prefer not to have an unfinished auction in that price bar (price tends to revisit those levels)


Another reversal scenario = min delta > max delta, bar close with positive delta, close higher than previous bar close. So price aggressively sold down, however, managed to fight back and close strong.

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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Old June 26th, 2016, 07:54 AM   #65 (permalink)
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One question (I have emailed you this as well but will post the same question here for others) - which Sierra package do you need to use your indicators ?

Since they effectively replace the built in numbers bars/footprints I am hoping we only need package 3 but I'll wait on the answer.

Hi,

Yes package 3 is enough.

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Old June 26th, 2016, 07:23 PM   #66 (permalink)
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Another reversal scenario = min delta > max delta, bar close with positive delta, close higher than previous bar close. So price aggressively sold down, however, managed to fight back and close strong.

Not trying to be facetious at all here, just trying to understand. How can min delta ever be greater then max delta? By definition, does it not always have to be lower?

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Old June 26th, 2016, 08:14 PM   #67 (permalink)
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don't forget, min and max delta are for the entire period of the bar. in the example below, the bar started with a sell of 10, giving a min delta of -10 (max delta = 0) and of course a delta of -10. then followed by a buy of 18. now that gives a max delta of 8 (-10 +18), min delta remains at -10 and a delta of 8. then followed by a sell of 1. that didn't change the min or max delta, but changed the overall delta from 8 to 7.

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Exactly. Throughout this example, min delta is ALWAYS less then max delta. It has to be. It's like asking for the low of a bar to be higher then its high.

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Old June 26th, 2016, 08:37 PM   #68 (permalink)
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ok, I see now what you mean

of course -10 is less than 8. but we're talking about something else. the min delta value of -10 is a bigger value than the max delta of 8. you compare the number 10 with the number 8.

Exactly, we are talking about Min delta being greater than the Max delta in relative terms. So the Min ask vol-Bid Vol is a greater negative number than the Max Ask Vol-bid vol is a positive number.

For example, sellers come in and hit the bid so delta for that bar goes to -10, those sellers are then down liquidating and buyers step up and start hitting the ask, price then moves back up and breaks the range of that bar, closing higher than the previous bars close, while Delta finished up +7.

The opposite would apply to a sell side reversal scenario.

* This type of reversal is only useful on a range chart, or a PnF chart( probe & rotation)
* Look for in an extended range eg when price exceeds +/-2STD from VWAP.

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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Old June 26th, 2016, 09:44 PM   #69 (permalink)
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I'm happy now that I did not attend high school! After all Delta007>Delta-10 > Delta8

What a Delta finish??

Keep It Simple
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Old June 27th, 2016, 09:14 AM   #70 (permalink)
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pattern recognition.


Thanks @Silvester17 & @Neo1 for the orderflow patterns. Been trying to find some patterns for weeks, but consistency is hard to find, even with parameters like volume steps and resistance levels at hand.
Did loads of internet searches if certain patterns could be recognized, via screen capture or so. Maybe Googles tensor flow can do it but that is completely out of my league.
Think it would save tremendous amount of time in analyzing data and studies.
So the question is does anyone know if the market analyzer can do this type of thing, or if there is software out ?
Tried both the market analyzer from NT8/NT7 but to no success. But i have no idea the capabilities of Sierra Chart. Did see that Linnsoft has something but it goes not deep enough as far i can see, as you only can read delta not delta min/max, COT and delta finish.
Peter

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