BlowFish

From the notes posted with the indicator... Guys I am not a TS coding guru by any means...still new at it but wanted to share this code if anyone else was interested. Just wrote this code for myself to keep up with JPERL's threads on Market Statistics. All you need right there.

Start the thread and see how it goes. Call it levels for tomorrow or something.

Interesting find copycat. A couple of different ideas how the advantage might be gained.

Thats the beauty of S/R its all done the night/week/month before, absolutely no excuse not to post lines/zones that you are going to work off in advance. I think its a great idea for a thread. If people want to talk about how they might trade or coulda shoulda woulda traded, thats OK. But the lines should be fresh.

It dosen't really need a database if you are prepared to average the volume in a bar across the prices between low and high. This is how most (if not all packages do it) FinAlgs package for Ninja does this and it is excellent and supports both volume and time profiles. Atrader is an interesting little program too. I wrote half the code for a volume profile in tradestation for Jperls PVP. This stores volume at each price level in an array. It only displays the peak volume. All it would require to display a histogram would be to loop through the array to display each element. I might be prepared to part with the code if anyone is up for doing the display stuff?

There are some gems here and there. Take a look at some of DB's posts the blog and Wyckoff corner are well indexed so no need to trawl through stuff thats not of interest. Thalestraders posts are very good and as a relatively new member there are not millions to wade through. There was a thread in the forex section something along the lines of 'a busy day tomorrow' that had some very good stuff in.

try the second site on here Weekly Pivots :D

Indeed. The point is that manipulate is an emotive word that is ambiguous in so far as it has two definitions. I would bet pennies to pounds that the algorithms they are worried about are ones that operate in multiple markets and multiple instruments either looking for convergent trades or other 'zero' (haha LTCM!) risk arb type trades. Of course returns are small on these so huge positions must be taken. This is where the relatively simple bit occurs. Grabbing as much liquidity as possible whilst the opportunity remains. Obviously algorithms can help here but that is not the big deal. In other words it's the algorithms that decide what to pile in to not the algorithms that do the piling that are the golden goose.

Pretty darn compatible.

You realise that by extending left you are trading on prices that have not occurred yet? It's like extending today's close left and trading of that. I bet that back tests well!

I'd like to see a copy of the report, there seems to be some baloney being spouted here. You don't require software to 'manipulate markets' though of course if you are buying and selling in many different markets simultaneously it will make life easier. I smell BS. I guess it depends on your definition of 'manipulate' really. The general definition is to manage or utilise skillfully. The alternative definition adds by unfair means. It's an emotive word, presumably carefully chosen. If you are working a large order your job is to 'manipulate the market' to get the best average price you can. Is high speed statistical arbitrage manipulation? I can't see how a piece of software can add 'unfair means'. Unless it exploits 'shortcomings' of the exchange. Slicing and dicing, choping and changing hardly constitute unfair. EDIT: my favourite quote ‘Preposterous’

That's weird Svensa posted a reply that seems to have disapeared? What he said was "so get them from your friend"

Ahh OK. For which charting package?

Personally I'd avoid Tradeguider like the plague. Its over priced. Its 'simplified' a handful of fairly straight forward principles into 400+ indicators. Its limited on data feeds. It's clunky. Did I mention it was overpriced? As has been said use any software that suits you. Just display plain price bars with a volume histogram and give yourself a chance to read the chart without spurious clutter.

What do you mean 'auto get the values'

Haha I only just got it

I am sure there are a few that would disagree about BO's being unreliable....or less reliable Having said that, if you buy into the idea that markets congest ( or are range bound, or are in balance) 70% of the time, then the obvious course of action is to fade break outs (or extremes at least). However if you can identify when or where a BO might succeed then you are likely to hit the long runs. 'Trend traders' often are BO traders and surprise surprise if they don't filter there entries they might expect 3 out of 10 winners. With proper money management they do OK. Just a couple of random thoughts.

In some respects every brooks trade is a breakout....... well it is with respect to the previous 5 minutes range. Most trades boil down to either a breakout or a 'fade'. (Some argue that pull backs warrant there own heading though I am not sure I agree).

But I have a feeling that much of her success is that she is psychologically immune at this stage of her life from the fear of loss that cripples so many from doing well at trading. I think most traders start out like that regardless of age. It is quite possible that kids are better able to deal with setbacks too, and that it is over time with various pressures to perform that we develop mechanisms and emotional reactions that don't really serve traders well. And kids are probably not too encumbered with all the notions of financial security, wealth and avoiding risking what most have to work long and hard to gain.

True, though a threads value can be diminished if focus becomes too diluted. DB makes a valuable point and anyone who is ontrested should at the bare minimum refer to his blog. Chances are everything you might want to ask has been answered there. Failing that he has a thread specifically to answer questions that still remain. However just because it is not easy does not mean that at is not doable. The setups themselves are pretty consistent. You are spot on about confidence. Chances are if you are not confident in the setup (i.e. done enough checking to ascertain it 'works') you wont be able to act on them. If you can not identify them consistently.......well then you should not even be thinking about trading them. The 'core' setups are far fewer. If having difficulty identifying them I would take one or two and stick with them.

Of course to a break out trader it doesn't really matter whether price signals the big moves before they happen . If you take trades in a location where there is good potential for a big move (at major S/R), well chances are better to get a good move. You are right about the Brooks book. It is 'setup' orientated, It is also very firmly 'scalping' for ticks focused (though he talks about holding for longer). It is not really a 'why things happen book' it is a book of observations and gudelines (and there are a hell of a lot of them) The only 'why' he talks about (correct me if I am wrong here) is from the point of view of where traders have entered, where their stops will be, where they will be locked in from, or where they will be locked out. This makes sense for a scalp orientated approach. This particular behaviour is one of the many observations that Brooks makes. It was not something that 'jived' with me for the reasons you mention (also a 'gap' is no reason to ignore the longer term context of where price is at). Thats not to say it may or may not have merit. It would be very simple to test by eye balling charts. I found it an interesting book and took away a couple of things (which I think I mentioned early in the thread). Having said that it is quite difficult, I imagine particularly so for someone who does not have a reasonable understanding of price action to start with.

Welcome to the forums, if you are having trouble with something just ask

I think what is meant is 'lexicon' which is a languages words and common expressions

Here's a 50 contract constant volume chart with resets every hour.

The advantage of the code I posted is that it allows you to specify any start time and any period (in minutes) to perform the reset. This is irrespective of bar type or size. It works too as I use it in my studies