Here are the volume definitions that are extracted from "Market System of Operation' thread that unitrader1 referenced: ---- T1: I did not find a formal definition but I assume this is just a decreasing volume bar - at least initially. ---- P1: (https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#52)) Logging and annotating are done in 300 second efforts. 1. Get permission 2. If 1. is True, do the volume test procedure. NB: If you cannot carryover the prior day then just go to a price turn and begin. Assign P1 to a bar using a pink ray on volume. 3. go to the next bar. Do the repeat test. See if this bar is also a P1. If not, then write F in the box and go to the NEXT sell (T1 cell). Write T for true and Write T1 in the Event column. What if the repeat is true. If so, then write P1 in the event column and check it twice. ---- PP1: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#54) As you log, you get P1's. The first is assigned. The next two can come almost any time. They enlarge the trend volatility. Almost NO traders are aware of trend volatility's role or for sure its role in making money. Like with pharma's there are good and bad side effects. Your mind's are embarking on the greatest trip ever taken. This work INFORMS in MANY DIMENSIONS. P1 is on the first row of your volume elements chart (it has six columns). Look at "Next" column. When you have an EE you do "NEXT" on a bar. trends are independent. You have to begin them once and EE has occurred. A P1 begins a trends ASAP. Two rules: 1. Do P1 on bar of failsafe EE's and A band EE's 2. On all other EE's put P1 on the next bar. Getting a PP1. An example by smwbbe: https://www.elitetrader.com/et/attachments/pp1-png.141676/ https://www.elitetrader.com/et/attachments/12-26-pp1-sheet-png.141773/ ---- PP2: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#56) You have two consecutive T1's well??? Hey a P2 is coming. It lands inBETWEEN the two T1's. You have a PP2 End Effect. we have 'tweeners and we have acelerators. An example by smwbbe: https://www.elitetrader.com/et/attachments/pp2-png.141677/ ---- PP3: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#55) Okay. You get two P1's one after another, no exceptions. volume lands BETWEEN the two P1 values on the thrid bar of the trend. Do you absorb this???? reread. reread reread. now you got it. this is a PP3. An example by smwbbe: https://www.elitetrader.com/et/attachments/pp2-png.141677/ ---- PP1a: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#57) PP1a Three P2's happen and there is acceleration. So the PP1a has been invented. these are turns. Turns are event between legs or moves on fractals. Are you aware of how money is made? Yes, you know that you know that at the end of a "middle" there is a profitataking turn. ---- PP1b: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#58) this bird is rare but its there. we do complete in systems. Three T2P's with acceleration anyway you can get the deali of the cards. ---- PP3a: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#59) Same as PP# except........ you have a wait in the form of a lat BEFORE you get the T1. ---- PP4 PP5 PP5a: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-6 (#60) OhOh .... These are OB type turns. as you remember OB's have an upper level and a lower NEXT level. you do a volume teast and get a peak on the upper level. naturally the Next on the lover lvel is a trough. If vice a versa just fill it in and kjeep going. Troughs first do not yield turns. So for P1 and then T1 you get PP4 on the lower level as a result. For P2 and then T2P you get PP5 on the lowqer level as a result. For T2P and then T2F you get PP5a on the lower level as a result. ---- PP6 PP6a: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-7 (#61) Trough time. there is NO acceleration here. All you do is get three consecutive bar troughs. Three T1's give you the PP6 three T2P's give you the PP6a. Example by smwbbe: https://www.elitetrader.com/et/attachments/pp6-png.141679/ ---- Summary of volume tests: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-7 (#63) Back to doing the annotating. Make a box with T1 in it and point below with an arrow. Here is the ray convention: P1 heliotrope known as pink P2 green T2P red T2F blue In price bookmark Dark green rtl thin line (black) top an bottom of lat lite purple ---- Review: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-7 (#66) We use price to get permission. the three step volume test procedure gets bars named and annotated with rays and a T1 in a box. we look for PP's by finding SHAPES. Other EE's are there too. As the trend develops, at P2 we have A band. As other bars are named other bands appear one at a time in a specific sequence. Only the EE's of the band can appear at these band specific times. All the OOE's are kicking in. We constantly steer and focus on a few things bar by bar. In PP arena we have aceleration, btweeners, OB EE's, and the shrinking volume tripples. It is coming into view. 35 EE's 14 are in the PP sub set. those not explained happen very rarely. we can pick them up later. So the A band has 8. Aa through Ah. 8 posts coming up A band is when P2 comes up and THEN more bars after P2. 7 of the 8 are HVBO. High Volume BreakOuts. More volume than the A band volume range. One is Ab the LVBO. so 14 plus 8 is 22 out of 35. the 13 remaining are spread all over the bands B through H. (your third sheet. the major clue to gettting EE's is to know he band in effect for the bar you are measuring.. In trends you first get volume elments and the OOE of volume elments gives you the EE turns. as you learn permission by price, then you learn volume ooe's and then you learn band OOE's and the turns (EE's) in the bands. This is equivalent to learning to read in first second and third grade. After one learns to read, reading is used as a tool for other purposes. So in the days 1, 2 and three we learned to read markets.
Definitions by llIHeroic: https://www.elitetrader.com/et/attachments/jh-cut-out-terms-part-1-pdf.141718/ https://www.elitetrader.com/et/attachments/jh-cut-out-terms-part-2-pdf.141719/ https://www.elitetrader.com/et/attachments/jh-cut-out-terms-part-3-pdf.141720/ https://www.elitetrader.com/et/attachments/12-23-case-volume-distinction-png.141727/
Examples of lats by llIHeroic: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-11 An example of complete process by llIHeroic: https://www.elitetrader.com/et/attachments/12-28-volume-practice-png.141798/ [Warning: This may not be completely correct.]
Apparently a sage advise from workwithus: https://www.elitetrader.com/et/threads/market-system-of-operation.280654/page-20 (#200) workwithus: Your not going back to beginning of OOE every time you get a P1.If the band A has been created (P1,T1 and P2 assigned) then the next measurable bar you can get a P1 or P2.Each new measurable bar can change the band A and the next bar's "zones".The size of the "zones" can change and which "zones" are available for measurement on the next bar can change.(This is assuming no EE's or failsafes appear).So what i'm working thru now is what if an Ob shows up on the next measurable bar after the band A is created? Or on a subsequent measurable bar? Jack: Very very good comment
I found this chart for T# and P#, they are kill each other. There are some logic to killing them as price and volume run in time, but I need more clarity. Do you know that logic?
If you read the last post by him in the thread that I referenced, he asked Jack a series of questions. He appeared to be stuck. It seems that Jack never answered him. So I speculate that he just was not able to get anywhere. Hopefully illHeroic will stop by and explain it himself. I think this framework is way too complicated to be used in a discretionary manner. Due to its visual nature, PV was too complicated for automation but not for discretionary usage. If JHM 2.0 is to be of any use, it has to be automated.