It is a nice 2 in 1 indicator which includes a long vs short volume and also market sentiment on multi-time frame. (@ 6:10)
Has anyone come across a public indicator on TradingView similar to this video's?
- Thread starter jennywestwong
- Start date
FXCM and Oanda both publish their book skew for more than 10 year already. If there was are real edge there it would have been long exploited. The crowd is only wrong at the points of extreme the rest of the time they are right -> its called a trend. So fading the crowd on such simple terms is really dumb. To get a much better idea of how to do that read the Jason Shapiro chapter in Schwager's most recent book Unknown Market Wizards.
I am not suggesting this video's guide is on point, i find it pretty silly as well. However I use TradingView as my primary charting platform and I do like the idea of seeing book skew and MTF trends all in one without flipping back and forth. Again it would be appreciated if you can answer the main question without too much extra opinions.
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I have price by volume on my charts[===================volume like this on charts/some time gets in the way of reading price]. IN addition to normal vertical volume bars/like monthly MAR candle has one vertical volume monthly bar.
REALLY , i have not found volume by price much use ever since i caught it making a huge error.
Volume weighted moving average can be helpful;
but QQQ,QLD,SQQQ..... have uptrended nicely with below 50day moving average volume, for years.
Also JWW, good timing on moving average question.......................................................
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I see your points JBT/+ was re/reading ONE his older top TRADER books
I wish the crowd was right that much/ i cold have joined them buying DAL,GM, + Bear Stearns\all of those went bankrupt. And they could use much more FX leverage or never get a margin call on anything. NOT suitable for all investors/traders.
Still, you trend comment has made made/most likely made most of the millions/billions in stock market + other markets.......................................................................................
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