Tasuki

swisstrader, Sounds interesting. How is this indicator or yours different/better than the one that's publicly disclosed on Traders Lab? Thanks, Tasuki

Blowfish et al, See attached charts. They come from today's session, friday, May 22, in the morning. I see a potential problem, or at least something I don't understand that might be important. On both charts, the vertical dotted line represents the open (6:30 AM here in California). The blue indicator shows the big traders, 100-9999 contracts, and the yellow indicator shows the little traders, 1-5 contracts. The first chart is a volume chart, 7777 volume, and the second is a simple 5 minute chart. (the horizontal lines over price represent the Globex high and low--just ignore for this discussion). Notice how different the blue indicator looks on the two different charts. Starting at the open, the volume chart shows a steady decline, whereas the 5 minute chart shows a steady rise. How can this be? Either the big traders are buying or they're not---how could their activities be represented differently, in fact oppositely, for the two charts? I forgot to add the 610 tick chart, but it shows the same pattern of decline that the 7777 volume chart does. I'm guessing that this is some artifact of the way I've set up the charts, or the scaling or something, but it would sure be helpful to know what's going on here in order to make better use of this wonderful indicator. Thanks, Tasuki

bbj, What are these "thrusts"? Is this something on Tradeguider? Or a VSA pattern I'm unfamiliar with? Thanks, Tasuki

Questions on Inputs for Blowfish's latest and greatest: 1) when would you change the DeltaBar value from 1 to something else? 2) when would you change the ResetDeltaEachBar from 0 to something else? Thanks, Tasuki

Actually, I think the function is "@Delta", at least according to TS help. "Delta" is a reserved word in Optionstation, but I don't think it's a problem with EL code for indicators. At least, it doesn't seem to be a problem--the indicator works just fine. Trouble is, I still can't figure out how to use it in trading, but maybe I'll get the hang of it after I've looked at enough charts. Hey, has anybody compared Blowfish's latest with the one from EOTProLive that started this whole thread? Are they the same, similar, totally different?

Sorry for being so dense, Blowfish. I guess everyone but me understands what you're saying, but my problem is that there are two ways of thinking about the word "filter". Does the 'largeblockfilter' filter OUT large blocks, so all you see is small blocks, or does it filter out small blocks so that all you're seeing is the large blocks? It's a tricky semantic difference but crucial. Thanks, and sorry for belaboring the point---I just want to make sure I've got it straight.

Blowfish, The code in permalink #156 won't verify. When it gets to the word "Block" it says "word not recognized by Easylanguage." I tried adding 'Block (0),' to the Inputs, but that created another error further down. Not sure how to fix. Thanks, Tasuki p.s. oops, looks like the dutchman beat me to the punch! Oh well, I'll leave mine in.

AgeKay, you managed to quote me on something I didn't say, and I don't think that's correct. The way Blowfish's code is written it would appear that if you use the greater than sign....in this code here: if absvalue(MyVol-VolTmp) >= LargeBlockFilter then begin then it appears that you must turn OFF the LargeBlockFilter, because the indicator looks identical when you use a block filter of 10 or 100. However, if you use the less than sign, like this: if absvalue(MyVol-VolTmp) <= LargeBlockFilter then begin then you find that the indicator looks different when you use a block filter of 10 vs. 100. I'm assuming that this means that the block filter is ON when your code has the "less than or equal" sign in it. Have I got this right?

Two charts attached. Both are ES 233 tick. Both have two indicators, the Blowfish indicator #2 and also the modification suggested by bakrob99 which I'm calling Blow3. He suggested the following: if absvalue(MyVol-VolTmp) >= LargeBlockFilter then begin The original had a <= I'm not sure what this does, but it makes it so that the indicator looks the same whether you keep the default value of 100 for "LargeBlockFilter" in Inputs, or whether you change it from 100 to 10. Maybe this change just disables the LargeBlockFilter? That doesn't really help me use the indicator, however. In fact, I have no idea what it's actually doing. Can someone explain in plain English what this indicator does? Secondarily, how would you use it to trade? You'll notice that the lower indicator, the Blow2 (Blowfish's original code from p.12, permalink #120) does come out differently when you change the LargeBlockFilter from 100 to 10. What does this LargeBlockFilter actually filter? Is it filtering OUT the large blocks of trades, or filtering them IN? If you have it set to 100, does the indicator now INCLUDE or EXCLUDE large blocks? Again, how does this help you understand the market, and more importantly, how can you use this to help you trade?

Blowfish, 1) So, do I just set the blockfilter to 0 in the inputs of the indicator? 2) Is this the line in your code that you're referring to regarding the sign being the wrong way around?: if absvalue(MyVol-VolTmp) <= LargeBlockFilter then begin This is the way it appears in my code, but it's got the less than or equals, not the greater than or equals. Maybe I'm looking at the wrong spot in the code? Please explain, and thanks! Tasuki

Results from testing the four indicators created on this thread: 1) phall permalink #73 p. 8 2) swansjr permalink #87 p. 9 3) Blowfish #1 permalink #91 p. 10 4) Blowfish #2 permalink #120 p. 12 So, what do these results tell us? When I took the Blowfish #2 code and made all the lines into histograms, it looked really different. Even the values were different. Not sure what that's about. Divergences on Blowfish #1 look very nice, actually. Code for phall maybe TOO smoothe? Code for swansjr maybe TOO choppy? BTW, I haven't made any changes to the code as posted. I wouldn't know what to change anyway, since I don't understand what these indicators are actually looking at.

Richard, so you're saying that the first part of the equation is whether the big players are supporting a move, and the second part is how many of them are involved, in other words how much pressure they're applying. Is that right?

I just got an email from Bill Dennis. It appears he's using Multicharts, but says that the indicator will work on Tradestation. If TS won't give us access to Time and Sales data for Easylanguage, I'm not sure how that's possible, but some of you seem to think that "clever programming" will do the trick. Gosh I hope so, because the EOTPROLIVE indicator does seem to have real value. BTW, does anyone have the link for the thread on the TS forum for voting on the necessity of having T&S data for EL?

So, let's recapitulate. After nine pages of discussion, it looks like we still don't know what the folks in the videos of the first post were doing. I've tried to use the code that was posted on previous pages, but the resulting indicators were blank or simply drew a straight line, even though they verified successfully. (not sure why that would be). swansjr, your post in permalink #23 from May first was pretty darn good---modifying the bid/ask pressure indicator. Can you share with us how that works?

Yes, it does work in Tradestation version 8.6 build 2525. Very nice indicator. thanks, sevensa.

At the start of this new thread I'd like to share with you an indicator that someone made for me. The idea was as follows: VSA folks often place significance on volume that's less than the previous two bars. Why not create an indicator that reflects this by painting such a volume histogram blue? Well, I started with Tradestation's "Volume Average" indicator (standard issue) and tried to play around with it myself to adapt it, but I'm not good enough at EasyLanguage, so I threw it out to the Tradestation forum and somebody coded up for me the indicator I've got attached. As you can see from the attached chart, it doesn't work so hot. All the vertical lines are places where the volume was less than the previous 2 bars, but it didn't get a blue color added to it. I'm not sure why that is. If someone can fix it so it correctly shows each and every instance where the volume of a given bar is less than the previous two, I'd be very grateful. As it is, the indicator does have some value, especially when you get multiple bars with decreasing volume. It just gives you a visual cue that can be especially helpful when scanning charts. Good trading all, Tasuki Volume Avg Vol2Less1.ELD

Suri, what's the deal with 41 days? Looks interesting, but is there any rhyme or reason to a 41 day cycle? Tx, Taz

Traverse, sweet little program! Thanks very much. Tasuki

waveslider and all, See my attached chart. I took waveslider's chart (the first one, permalink #36, from April 5, 2009), and added two more lines. I've never seen anyone use these extra parallel lines, either the pair that waveslider created, nor the two I made. Are they part of the pitchfork trader's toolbox and I've just missed them? More important, do they really work as support and resistance? Would be really cool if they did. Does kind of seem like my righthand red line is containing price, at least for the moment. Any comments, anyone? Taz

Horus, might you be able to post the FTP link here? I'm sure the members (OK, at least me and Blowfish) would appreciate it (very much). Thanks!

Thanks, Horus, you certainly have an eagle's eye (or maybe I should say a falcon's eye) for detail. I've looked back over all the charts I've saved from Tim Morge, and indeed it looks like you are right. I've never taken a course or anything from Morge, just tried to follow his free lectures and webinars. Where did you hear about this most important detail in pitchfork-making? Did you take Andrews' course?

Been a while since this thread got updated. Turns out that the key to the pitchforks is knowing what pivots to use, and that's as much an art as it is a science....an art that I confess I haven't mastered. Attached are two weekly charts that might or might not work out (so take them with a grain of salt, so to speak). My reason for posting these two charts is as follows: Every monkey and his uncle has turned bullish in the past few weeks---in the last couple of trading sessions, some of the major indices have broken above their 50 SMA lines, which signals an "all clear" signal to the mutual fund money managers (who aren't very sophisticated) that it's time to put their money to work and buy the market. Well, I just want to throw a monkey wrench into the works and suggest that these pitchforks hint at a possible downturn next week. Remember, next week starts earnings season, the time when "the rubber meets the road" for American companies. Needless to say, earnings season is destined to be a disappointment, but the sixtyfourdollar question is, how much of that disappointment has been priced into the performance of the major indices? These two weekly charts suggest that MAYBE there will be a downside surprise that has not been priced in yet. Stay tuned!

My best answers to a wandering concentration are: 1) breathing exercises 2) pandora.com God I love that website. I have created a bunch of "stations" that suit me personally for keeping my attention: Johann Sebastian Bach station Antonio Soler station Luigi Boccherini station Sylvius Leopold Weiss station The latter station is all lute music, which I personally find very calming. Heaven knows, you might find Led Zeppelin calming. Whatever keeps you focussed yet calmed, that's the key, and Pandora is wonderful for this. Breathing exercises require some sort of training in yoga to do them right. Both the Hindus and the Buddhists excel in this sort of thing. Personally, I do the Hong Sau technique taught by Paramahansa Yogananda.

What's "Range Deviation" and what are Range Deviation pivots?

Neal, This is a fascinating indicator. What the heck are the lines doing? What do they represent? I can't make head or tail out of the Easylanguage---"LongLeg, ShortLeg, MultiLeg, MultiW, tempSyncS" what do any of these mean? Tasuki