BA Trader I looked at the chart mgin linked a few posts ago and am curious about your ma on the volume. It looks like it almost draws the gaussians for you. What settings are you using for this? One problem I have with Ensign is that it doesnt allow you to do any studies on the volume area out of the box. There is probably a way to do it with their programming setup but Im not knowlegeble in that area. It would be terrific if we had someone who was good at that stuff using Ensign with us.
Easy, on the chart you posted where you should have entered but didn´t, you have 4 arrows pointing out two bars and the volume - i´m looking, i´m looking again, i´m guessing, but i don´t really get it. What´s the clue that told you there was a high prob. for a trend change around 13:50? Asking questions seems to be my main function in this thread. Hopefully someone else is on my low level and get´s something out of it too...
about moving average on volume - with sierrachart you can just take a moving average, choose volume as data item and put it in the same region as the volume bars, but maybe you can´t do it in the same way in ensign.
This was on a one minute chart which I go to when I suspect a turning point. I pointed out the previous spike to see if anyone would ask why. When I see a volume spike by itself out of nowhere it is a sign to me that theres a good possiblity that theres more coming which is why I was not looking to reverse there.I was watching this huge divergence on the macd which is a clue that a top may be coming. Then we come to the new hi. You have the the high black volume bar, a couple of new highs but on less volume. Look at a lot of charts. You will see this over and over again. p.s. Trying to reverse at tops and bottoms is not a beginners game. It is still just an exit point for me. When you see your exits are within a few ticks of tops and bottoms consistently then it may be time to start thinking about reversals.
thanks! i guessed it had to do with a high bar and not enough volume, so i was at least looking in the right direction, i just didn´t understand the connection with the spike earlier. It´s funny, because I actually papertraded something simular on YM yesterday - a long red bar with low volume. I suspected a trend change and i was right that time, but i think i have to finetune that strategy a lot before i dare using it with real money... Time to study the charts again... /Stalker
Ive used Sierra Charts. Its a nice package. It is one of the easiest to customise. Even I could do it. Quotetracker is a good package. I just cannot seem to find one that has everything I want. Ensign comes the closest.
sierra chart is very easy to understand, but i find more and more things that i want to do that is not possible with this program. I also need historical data feed. I saw that that was included in the price with ensign. /Stalker
Yeah that's the idea -- it's a 5 period simple MA. A 2 period is also useful. I don't use it anymore but it was a useful learning tool... good for a few a-ha's.