Head2k

Since your question seems to be related rather to VSA than to Wyckoff how he is understood in the Wyckoff forum, I suggest you post your question into the VSA forum.

Doesn't this return an error? Your line should be written like this: Plot (TimeFrameExpand (CCIW, inWeekly), "CCI Weekly", IIf (TimeFrameExpand (CCIW, inWeekly) > 100, colorGreen, colorBlack), styleHistogram); If you want to add the red color, then try this: TimeFrameSet(inWeekly); CCIW = CCI(20); TimeFrameRestore(); CCIWexp = TimeFrameExpand (CCIW, inWeekly); Plot (CCIWexp, "CCI Weekly", IIf (CCIWexp > 100, colorGreen, IIF (CCIWexp < -100, colorRed, colorBlack)), styleHistogram);

To get the price of the last tick you need to have tick data. It means that 1) your data provider must provide tick-by-tick data 2) you need to save the data in a tick database in AmiBroker, which means that in menu File > Database Settings you need to set the base time inerval to Tick. 3) you need to run the indicator on a chart with interval set to 1 tick. Otherwise AmiBroker has no way to determine the price of the last tick. The indicator operates on an active chart and cannot reach for more detailed data (talking about an indicator in a chart, because I don't remember what AA does since I don't use it). Then, if you have the tick data, you can run the following code on it: UpTick = C > Ref(C, -1); DnTick = C < Ref(C, -1); // then, say you want to count all upticks since the selected bar in a chart SelBI = SelectedValue(BarIndex()); TotUpTick = 0; for(i = SelBI; i < BarCount; i++) { TotUpTick = TotUpTick + UpTick; }

John Magee: Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing

Ondrej, I didn't mean you should watch only the 1 tick or 5s chart. But I think you should watch a fast chart in addition to the 1 min chart. The fast chart then gives you additional information and it also serves for observing behavior on the test where you are looking for entry. For example, If you watch only a 1m chart then the whole test can be shown as one bar. I think it is more useful to look inside of this bar. If you look inside, then you can possibly see a sharp rejection or quick double bottom. Or you can find a slow round or flat bottom or whatever. In other words, while 1m chart can show you behavior on larger scale (the DB as a whole), the fast chart can show you behavior on the test and can serve for defining triggers. Last but not least, volume is largely useless in fast charts. You need to focus on pace instead. That is on how fast price is rejected.

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Nazdar Ondreji, You can use double bottom / top as a setup. When defining this setup, there are several things you should focus on (IMHO): - the trend which brought price to the S/R and the DB/DT scale in relation to this trend - defining what is a DB/DT and what not, i.e. defining the test extent in relation to the original extreme - judging rejection (or a lack thereof) from the S/R, both on the first contact and on the test, and even on the bounce in between - choosing an entry point; stop loss placement; if, when and how to reduce your stop... And if you want to judge acceptance vs. rejection or if you want to learn how to spot a climactic activity in real time, then I would recommend you to open a fast chart instead of watching 5 or 1 minute bars together with volume bars. Don't be afraid of 1 tick chart (you must zoom out so the chart displays several thousand ticks).

I own the book and I know of several other forum members who have it, too. However, I do not feel free to spread it without Db's permission and, unfortunatelly, I do not know how to reach Db either. Db's blog here at TL contains a great part of the book, some chapters are exactly the same. I suggest you to study the Db's blog and the Wyckoff's Course and you should be fine.

Even though I am a daytrader, my own risk management rules are more conservative than the overnight margin requirements set by the exchange. I have never attempted to open a position which would be more leveraged than the marging requirements, or even anywhere near to them.

...unless you are a day trader. You definitely can open a larger position, but you have to close it within the same session.

Well, OK then. The $2813 Initial Intraday Margin for the ES is the same as day trading margin, as there is the word "Intraday".

As I wrote before, IB are conservative. AFAIK, they do not offer lower margins than the exchange. But check e.g. Mirius: Day-Trading Margins | Mirus Futures

Actually, IB are quite conservative and they have higher margin requirements. For the ES, the intraday initial margin is $2813 and the initial overnight margin is $5625. Source: http://www.interactivebrokers.com/en/p.php?f=margin ------- For estrader: Margin requirements are indeed set by the exchange, but you, as a retail trader, do not interact directly with the exchange. Your broker places your orders on your behalf. Therefore, I'd say that in fact it is the broker who must meet the requirements set by the exchange. And the broker can have different, usually softer, requirements for his clients, while he must bear the risk resulting from the difference. If the client wids up with negative account ballance, the broker clears the debt with the exchange and then demands the money on the client. Therefore, the margin requirements set by the exchange are only very loosely related to the margins required by the brokers. They serve merely as reference. Some brokers have initial intraday margin for the ES as low as $500.

When you trade you need to decide what scale of waves / trends you want to trade. This decision must be based, apart of some other factors, on the resolution you need so you are able to spot your entry and exit signals. Here, Wyckoff entered off a major selling climax and he doesn't want to exit on a signal of smaller importance and to look for a re-entry on a pullback where spotting the exact turning point might be more difficult than in the case of the big climax. If there is a rally, at some point new buyers become reluctant. They might be afraid that they are too late to the party, and the higher price isn't so attractive. Then the rally loses power and a pullback follows. Pullback is in fact a test. It tests if new buyers are just reluctant and want just a bit lower prices to enter with new force or add to their holdings. It also tests if the old buyers (who are holding) will start to get rid of their holdings and how much. And if the price decline attracts new sellers. To sum it up: If price pulls back on light volume, it means that there is little selling interest (sellers are not very aggressive) and buyers are reluctant. Sure, price isn't supported much by buyers, but in case of a mere pullback it is supported enough so it doesn't make a new low. Without this behavioral pattern price wouldn't move in waves. It is a cycle: Price rises too much and attracts some selling while buyers become reluctant. So a test of selling interest follows. If there is not enough pressure, then price resumes advance as lower prices attract new buyers and the apparent lack of selling pressure reassures them of direction.

For sending orders to IB, try this: AmiBroker DevLog » IBController (auto-trading interface) 1.3.8 released I haven't tried it myself since I do not use automated systems, but you can have a look at it.