traderveritas

I had the pleasure of taking Hank Pruden's classes at Golden Gate University. I have been a member of the Technical Security Analysts Assoc in San Francisco for a number of years and had heard Hank speak about Wyckoff in the meetings. Just sorry I didn't take his class much earlier as the Wyckoff principles really provide me with a framework for the markets and price movement that I couldn't find with any indicators, pattern strategies, etc.

Zunaa Here is the forum link: https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=46053 The Tradestation engineer is Mitch Shack.

I am working to add this to my toolbox. One of the Tradestation technical people has rewritten their intraday "Price Distribution" activity bar to use days as the unit. So you can use weekly or monthly bars (I am using this). It provides a very interesting perspective. The only glitch I have seen so far is that the value area sometimes doesn't seem to plot correctly on the current bar under construction. I claim no real MP expertise although I am in the process of learning more about it as I see it fitting nicely with the Wyckoff/VSA paradigm regarding auction markets. I am currently reading Mind over Markets and will move to Markets in Profile which covers this idea. The indicator is called PriceDistributionWeek (along with the number prefix) at the Tradestation Forums.

Sherlock, One of the useful things that I got from NOT recently was Barros comment that the appearance of reversals (I guess this would be the zig) in one timeframe (his parlance of the 5/18/... day swings) is a warning of a coming end of trend in the next higher timeframe. I found this to be obvious once he stated this but something that hadn't occurred to me before. In the context of the ZigZag indicator I mentioned with multiple ATR levels I now look for the lower ATR indicator to show zig-zags and start thinking that a larger ATR reversal could be in the works. I then can look to other indicators, price/volume action for confirmation and trade entry. Mike

Blowfish, I have attached the TS indicator to this post. I also apologize to all for cluttering up the thread with the inline posting. I can't find a way to edit or delete the post to clean things up. If I am missing something obvious let me know. Gassah, since you started the thread if you can delete my post with the TS ZigZag indicator I would appreciate it. Mike ZigZagFibs v2.5 Rev3.1.txt

Sherlock, I haven't found a no-fee Barros wave indicator ELD but have been using a variation that I like quite a bit. Take a look at this thread: https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=74450 It is a very nice ZigZag indicator with quite a bit of functionality. One of its options is to use an ATR retracement. I have plotted 3 separate instances using 2 ATR / 4 ATR / 8ATR as a replacement for Barros approach of using different day settings. Clearly this doesn't duplicate his Barros swings, but offers a volatility based view of determining the different trend levels in the markets. I am reading NOT and am working on how / if this approach synchs up with Barros. Hope this is helpful. Mike

I found this post on "Re: [VSA] Volume Spread Analysis Part II" interesting and have nominated it accordingly for "Topic Of The Month November, 2008"

This could turn out to be the case. Re-distribution has many of the same characteristics of accumulation and it is only after we see a change of character of the market in favor of one outcome or the other will we truly know. In fact, the Wyckoff count I mentioned doesn't argue for anything other than a relatively small rally at this time. I only made the comment in that I found it interesting that it ended up with targets which were consistent with the Wolfe Wave.

Tawe, This is pretty interesting. While outside the VSA thread, Wyckoff uses P&F charts to calculate potential targets during accumulation and distribution phases. Using a 10 point/one box reversal chart I get 18 columns of count which multiplied by the 10 point box size yields a current potential of a 180 point move. The target this generates is in the range of 1000 - 1100 (using the low or the approx midpoint of the accumulation) which is fairly consistent with the Wolfe Wave targets. Mike