Balanced Areas

[Soultrader 12]

Hi Jonathan,

 

I think a combination of market profile and VSA is extremely powerful... ONLY if you know how to use it properly. I personally do not have any moving averages or RSI on my chart. I trade strictly off price action, volume, and pivots. Its best to stop switching strategies but to really focus on becoming good at one.

[bobajob 10]

As I've put in previous post -I just look at price in the form of shorter time-frame profiles. This shows when an unfair area is rejected and time to take the trade. Takes time to develop though.

[Trader_JG 10]

Thanks for the response guys, should I get rid of market internals too such as TICK, ADD, P/C?

My guess is yes but just want to make sure before I delete them.

[weiwei 10]

Trader JG, Market internal do have its value in day trading. One I use most is $tick, and I know Soul and many other people in this forum use it.

 

Correlate its action with price, it could be a good tool to make a better decision.

weiwei

[Trader_JG 10]

Does anyone have the TradeGuider VSA chart reading bootcamp course?

If so it is worth the $495?

 

I have his book along with another one I found online.

 

Jonathan

[walterw 10]

Still working on them.

 

If you're interested in the idea, take a look at Traderxman's posts about the method. Take a volume histogram and determine a way to classify volume as high, ultra high, average, etc.

 

In Tom's book he says to compare the last 30 periods. (Tradeguider-the company that bought the rights to Tom's work, will not disclose what they use for their volume bands). On an aside, this makes at least some of what TG does Black Box in my opinion.

 

Anyway, I place a simple 30 period moving average on volume. Then I use standard deviations of that to determine various levels. This would seem to be vary close to what MATS does. Mats trades off a 1 min chart but also looks at Market Profile. Probably a typical 30 min profile. So using a 30 minute average seems to fit into the Auction Market Theory concept as well as standard VSA.

 

HI Pivotprofiler.... I am doing some research in forex and I am about to test the VT platform... I was wondering if you would be willing to share your mats type indicator to give it a test.... no compromise... cheers Walter.

[walterw 10]

I also found this pictures on a diferent forum... they apparently work on VT too do you have any clue where I could find this indicator ? cheers Walter.