Volume Distribution

[danhoyda 10]

Hey guys I'm not sure what is wrong with my tradestation but when I go to plot the volume distribution under the activity bar it shows very strange information, I am not sure what to make of it. I have posted a pic below. Is there something wrong with how I plotted it?

[joshdance 10]

Hey guys I'm not sure what is wrong with my tradestation but when I go to plot the volume distribution under the activity bar it shows very strange information, I am not sure what to make of it. I have posted a pic below. Is there something wrong with how I plotted it?

 

I don't see what you're referring to. Are you talking about volume per bar, or volume at price? Either way it will be pretty useless or at least inaccurate for spot forex, which has no reliable volume information available.

[danhoyda 10]

From what I understand, when you go to the activity bar in tradestation and plot the volume distribution, you are supposed to get a distribution on the left side of the screen. I'm not sure what is wrong with my tradestation because I get the picture you see on the screen. I am not sure what you mean about spot forex and it being useless. Can you elaborate. Thanks for the help

 

Dan

[joshdance 10]

Have you tried a different instrument?

[danhoyda 10]

I'm not sure if this tool needs the bid ask information. TS is not allowed in Canada so the TS copy is cracked. Not sure if this is why.

[tiger369 10]

Where is the data coming from? If you select @ES.D daily for symbol and apply Volume Distribution ActivityBar, you should get the chart. You will need the volume for the Volume Distribution chart. Same with the Price Distribution ActivityBar. You just need the price for the Price Distribution chart.

[danhoyda 10]

hey tiger. I get the data from global server. I only get the forex so I don't have access to the ES. Also tradestation is working in offline mode. the data comes through quoteroom and globalserver and owndata (quotemanager).

 

Here is a picture of the price distribution and the volume distribution for the EURUSD.

 

Thanks for the help so far!

 

Dan

[tiger369 10]

EURUSD has no volume. Volume Distribution ActivityBar will not work for EURUSD.

[danhoyda 10]

so do they not work for forex?

[ValueTrader 10]

There is no central exchange for spot forex and so no volume. Its such a huge market it would be near on impossible to collate.

 

Foreign exchange market - Wikipedia, the free encyclopedia

 

The solutions I'd suggest are: (Although none of these will make your indicator work)

 

Use the currency future of your chosen pair for a ROUGH proxy.

 

Use a market profile style TPO count.

 

Or you could scrap the indicators altogether n trade on price action....

 

Stick two lines on your chart. Calculate day range (High-Low), then divide by 8.

 

Minus this figure from your day high and add this figure to you day low. Stick the lines here.

 

If price on a less noisy timescale (15 to 30 mins) fails to break the support or resistance short at the higher line / long at the lower line.

 

If price closes above them with decent momentum, go with the break out on the retrace of the next bar.

 

Place a fixed stop behind the day high for rotations (failed up or down moves) book profit when you like. Place a trailing stop behind the higher line on up breaks, behind the lower line on down breaks. Profit takes care of itself on these.

 

I'm not suggesting you'll become a millionaire from using this strat but you can have it free of charge.

 

Most of the stuff floating around the Web on trading is overcomplicated & convoluted BS anyhow.

 

Paper / Sim trade it for a bit n see how you get on.

 

VT

 

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