Lance,
Great to hear from you. I'm in the middle of updating my linux box and as soon as I'm able I'll post the chart. It may be a few hours though.
John
Bond Trader 2006
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Lance,
Great to hear from you. I'm in the middle of updating my linux box and as soon as I'm able I'll post the chart. It may be a few hours though.
John
Lance,
Here you go.
In the past, IB used to slightly change the data so when you did a refresh after the fact the chart might look slightly different. I believe this chart to be accurate to what I observed.
I don't have an actual print of the time and sales. That would be more helpful.
BTW, right around 0820 there is an increase in buy volume (count 2 bars after the kiss of 114 05), but real-time, I believed that to be a false signal. I was counting on the fact that 114 04 - 114 06 was very important S/R if you look at hourly price activity going back 1 - 2 weeks. Also, other indicators I use were telling me we were weak.
Here you go.
In the past, IB used to slightly change the data so when you did a refresh after the fact the chart might look slightly different. I believe this chart to be accurate to what I observed.
I don't have an actual print of the time and sales. That would be more helpful.
BTW, right around 0820 there is an increase in buy volume (count 2 bars after the kiss of 114 05), but real-time, I believed that to be a false signal. I was counting on the fact that 114 04 - 114 06 was very important S/R if you look at hourly price activity going back 1 - 2 weeks. Also, other indicators I use were telling me we were weak.
what is the bottom volume indicator you are using specifically called? does this indicate how much volume is occuring at bid price versus ask price? (intuitively the same concept as market delta) ??
interesting. i'm not an ensign user ... but regardless I find this could be a good indicator to use.
Equivolume from Ensign.
Here are testomonials on its effectiveness:
http://www.ensignsoftware.com/help/mailbag06.htm
Here is the help/new features file:
http://www.ensignsoftware.com/help/features.htm#Equi
I used to use MarketDelta, but I found I was looking at too many things and once Ensign came out with this I found that it was sufficient for my purposes. Obviously MarketDelta offers a lot more detail.
very cool. cheaper and leaner too ... the equivolume showed reversals like a sore thumb ... you just unknowingly sold a subscription (for at least a month) hahah...
Can you specify us the price at which you thought to a reversal reading the ask/bid equivolume on http://www.elitetrader.com/vb/attachment.php?s=&postid=1290843
?
Well, I'm happy that you've found it useful. Keep in mind that it can be deceptive. You need to couple it with S/R, and your own knowledge to make it work.
If you followed every increase/decrease in buy/sell volume you might find yourself creating your own chop. Bottom line I found it most useful at key price levels, and in particular if those key price levels coincided with pivots or major moving averages that are followed closely.
most notably 7:30am and 10:00am.. very lopsided volume.
by the way I haven't yet read the docs. just to verify, does this indicator add 1 pt per volume to red if trade hits the ask, ad 1 pt per volume to green if trade hits the bid?
just like john says, its just a supplement. but interesting nonetheless ..
by the way, how i defined it doesn't look like the Arms equivolume indicator. correct me if I'm wrong:
http://www.armsinsider.com/education/armsonthemarket/equiv_chart.asp
i just looked on ensign's website and it looks like what i was referring to wasn't equivolume. it was 'ask/bid volume'. the equivolume IS there, the same as what I posted above.
What's happened to this journal?
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