flatwallet

I guess I will have to be the lone dissenter here. Neoticker is the best charting platform I've ever used. Now I did not always feel that way. It was created by a trader for real traders. I never understood that, until my 3rd month of using it. When I first started using NT, I really found it to be a pain in the rear, however, once I got over the initial learning curve, I promised myself that I would never go back to Tradestation or any other platform. Pros: 1) Download and save historical tick data that can be exported to SQL 2) Configure the charts and link them in any manner you wish. 3) Have as many charts in one window as you wish 4) The best stock scanner bar none. It's light years ahead of all of the other scanners put together. 5) Can easily program multiple time frame indicators. Basically you can create an RSI indicator on a 15 min chart that shows the RSI values of Weekly, Daily, 60 min, 30 min and 1 min, all as one indicator. 6) You can create Cumulative breadth and other market internal indicators 7) You can create your own custom breadth indicator. For example the current tick indicators provided by esignal show the cumulative movement of all the NYSE/NASD stocks. This may not be as precise for you. So you create a basket of your favorite market leaders, and track the breadth on those stocks. 8) Chain scanning. Not only can you create very custom and very specific scan, but the results of those scans can automatically feed another scan. So basically you can scan 5000 based on highest weekly volume. The results will then feed another scan that will look for RSI overbought/sold and those will feed another scan that looks for stocks only above $50 and that will further feed another scan that will look fresh 20 day hi/lo. etc. etc. 9) You create custom quote windows with multiple time frames indicators, alarms, flashing light etc. 10) Broker and data feed independent 11) Nice tick replay 12) Great for back testing multi-timeframe strategies I've only been using it for 5 months and I don't think I have scratched anything more than the surface. It's the most open ended platform out there. Also, you can do automated trading, but I have not ventured into that world yet. I'm a bit afraid to. It was easy in breakstation (single timeframe strategies). Cons: 1) Data, data, data. The one thing I loved about TS was their clean and fast data. Esignal is ok but too expensive. IQ has improved a lot but still has a ways to go. IB's data flat out sucks. 2) Learning curve is too steep 3) Documentation is very poor 4) Customer service is a bit lacking but the forum has some great people in it. 5) The one time fee is expensive due to the falling dollar. 6) Cannot integrate multiple data feeds. 7) Lacks a deep array of built in indicators. 8) Don't expect to place manual orders through it. That's a bit hard. Even with all those cons, I think it's head an shoulders above the others and I've tried a lot of them. If you tried the demo, then you seen only 1/10 of 1% of the application. The demo sucks. I wish they would give people more of an opportunity to really try it. The only thing I would say about NT is that you need to be somewhat tech savy. You can't be one of those "how do work a VCR" type of people. It's not a quick learn at all. If you are tech savy and have $1000 (if you buy thru Open Ecry) or $1500 (thru tickquest), then I would say take the plunge (blindfolded). You will absolutely not regret it 3 months from now, though you may curse me out for the first 2 months.

Nice play and it was in real time...nice call

Fight fight fight.... NoTouch...I for one am just a VSA newbie...as for the other, I don't think any of them actually visit the website a whole lot during the day...and even foresight analysis can teach us a lot if we see this during the day...just my 3 cents...But I think we will all welcome charts and vsa lessons from you...so please post or bring to our attention some great vsa concepts...much like Vercingetorix call on BIDU prior to earnings

Pivot, It's the same ticker. You may need to click on the image to see the shadows properly. Also, as per your request: Thanks

"A chart with nothing but price and volume can seem intimidating" Man you hit the nail on the head. However, under current circumstances and knowledge level, it's tough to scan for interesting stocks without using a some indicator as a filter. Currently it is hard to view 1200 charts one at a time.

Pivot, I am fairly new to VSA and while I appreciate it, I know how to read it properly. What I've noticed in my personal chart reading is that I tend to be biased when I see the full picture. That is why I posted a partial chart to see what you would be looking for. This was not to quiz someone's knowledge, however, I wanted to to get an unbiased read like you normally have to do in real time. This is what I learned from your analysis: "Note that this candle is up against the support/resistance zone created by the Long Shadow, but not within it. It is, however, within the body of a large dark WRB. I WOULD LIKE TO SEE A LOW VOLUME SIGNAL WITHIN THE RANGE OF THE SHADOW." Wow. That is the kind of stuff you don't find in the book as Tom Williams tells you a lot but it always in the context of "and TradeGuider will help you find this witha bar" blah blah. Take a look at the posted chart. Prices do not move above the Shadow. FYI. The next day was chop that closed in the middle of the Opening WRB. Thank you for teaching us yet another thing to look out for. 11:30 - 12:00 There are two no demand bars one red and one green. But if I can't evaluate the next few bars, I would not be sure if I should go long or short. I assume short only because the general trend was down.

Well now you can get the next 16 picks in a row wrong before you give all your earnings. Well done. One a similar note, how do you go about scanning for no demand, test or up thrust bars. I would be very interested. I think you're playing the VSA stuff the right way. Identify and buy some out of the money Black Swan options. You need about 1 in every 10 correct to make a lot of money. I had a similar call in AMGN where a .05 option turned into 4.80. Unfortunately it was only papaer money as the whole VSA concept is really messing up my current breakout trading system. I prefer VSA but it's hard to give up on old habits. Anyway wanted to say Congrats...

Vercingetorix, Well I hope you made a boat load from that trade. I wish I knew came across this chart and bought some black swan options on BIDU. Flatwallet

How would you read the following chart?

Would April 9th have been construed as a No Supply day

Pivot, I would have entred during the black candle but at the lows of the first No Demand bar - .01. My stop wouldn't have been hit beacuse I usually place my stops at the highs/lows of a 5 channel. That being said, I would consider myself lucky. flatwallet

Off Topic --- Torero, Loove the signature. "My only objective is NOT to eat like a bird and poop like an elephant" I think every newbie should read the Nassim Taleb books.

Thank you so much for yet another free lesson. I have programmed my TradeStation Strategy to calculate the 50 period volume moving average (5 min charts) and set a 1 bar trailing stop when volume exceeds 3 times this average. I can't tell you how much money it has saved me. I wish I knew how to find a way to exit the trade immediately rather than trail it by one bar. But that's a different story. Thank you.

Pivot, Could a No Demand bar be viewed as a bar that foreshadows a continuation pattern? Also, when we talk about excessive volume, are we just talking about volume relative to the past few bars or are we trying to say that it is 2, 3 or 4 times the average volume (intraday)? And if so, how would we measure the average volume? Would the average of past 50 bars be good enough? I know it's a lot of questions but I'm just trying to get my arms around all the concepts. It so good to be part of this board as there aren't too many sites out there that can explain this stuff. Plus, there aren't as many knowledgeable people on those sites that are helpful. Thank you berry berry much

Well I understand it a lot more clearly now. Thank you for that.

Pivot...You Tina and Soul need to come out with a boot camp of your own. However, please do not price it at $500 Have any of you seen the boot camp videos and do you see it being worth while. It been a tough process for me to chage from current thinking to VSA thinking. I have incorporated the high volume and looking for stocks at the bottom of trends. However, the no demand, test and few other concepts elude me in real world practice. When I read the book, a light bulb constantly flashes over my head but once I put the book down, I feel the room getting darker and I start feeling lost. Are there any sources that don't rquire big bucks to start learning this stuff in more detail. Thanks

ST, I look forward to viewing that session. Please if you can, include the tape readings as well. I am completely ignorant to reading tape but I head it can help a lot. Thanks

ST, So would you buy off the S1 levels immediately or wait for the next bar to be green. How would you know that it's safe to buy or that the down move is over? Flatwallet

I'm not sure how to attach image but here's

I am not good at this by any stretch but here is a trade I should have pulled off but I was way to unsure. Based on 15 min charts: First 4 bars contain unusual volume with wide spreads. The 4th bars closes in the lower half of the bar. The 5th, 6th, & 7th bars all have lower volume associated with them. Here I was unsure if 7th bar would be considered a no demand bar. However since the price retraced on lower volume, I was scared to pull the trigger. The 8th bars looked promising as the volume was almost equal or greater than the previous 2 bars. For me this was confirmation that the bottom was set. I would like to have bought at the open of the 9th bar. 13, 14 & 15th bars were small pullbacks on lower trending volume. This would have been a nice dummy style entry. The only concern might have been the Opening range resistance. Where would you guys have entered and why? Thanks, LP Flatwallet

Thank you for the details

Walter, What the difference between the two? Thanks

Many of you guys have the WAV_Vol_3 variety of code. This code helps us see the up / down volume within each bar. How accurate are these numbers? I heard of TradeStation manipulating data so that it could be efficient and I was hoping that at the end of the day that the volume data is either dead on or close to it. Any thoughts?

Hi, Since there seems to be quite a bit of vsa knowledge here, I was wondering if everyone would like to start posting one great VSA analyzed chart every day? Flatwallet