Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
Search for Proflogic 's discussion about this issue.
Basically, Tradestation does not "cap" the volume bar. If you set the bar at 10,000 shares, and the current count for shares is 9950 and a trade comes across for 100 shares, TS will not stop the bar at 10,000 shares and carry over the remaining 50 shares. It will simply count that one period with 10,050 shares in that bar. Launch a volume indicator for your 10,000 CVB bar and you will see it.
I know all about TS issues. I used to use them but when they say they dont have any plans in the future to correct this problem, coupled with other problems, it was time to go. They are called constant volume bars, nothing constant about volume bars that have different volume. For anyone that trades using CVB, I don't know how you could even think of using TS.
Maybe a stupid question:
As we all know, a trend is established after 2 HH/2 HL or 2 LH/2 LL...
but:
A high or a low is subjective. What is your definition of a high/low?
I mean, how many bars n before/after the current bar do you count to consider the current bar as "the" low?
The smaller n is, the more lows/highs you get.
As we all know, a trend is established after 2 HH/2 HL or 2 LH/2 LL...
but:
A high or a low is subjective. What is your definition of a high/low?
I mean, how many bars n before/after the current bar do you count to consider the current bar as "the" low?
The smaller n is, the more lows/highs you get.
I'm kind of going through that right now, too.
I thought that the HH HL HH HL up to 1234.00 was a change in trend. Then I thought that the HH? and the HL? was the correct interpretation.
Then I zoomed out and saw that I probably should have been favoring the short side.
Then I thought maybe a Double Bottom formation after that small bounce off 1225.75 (not shown on chart).
That's why Anek and all the others emphasize screen time. I'm trying to pack it in as much as I can.
I thought that the HH HL HH HL up to 1234.00 was a change in trend. Then I thought that the HH? and the HL? was the correct interpretation.
Then I zoomed out and saw that I probably should have been favoring the short side.
Then I thought maybe a Double Bottom formation after that small bounce off 1225.75 (not shown on chart).
That's why Anek and all the others emphasize screen time. I'm trying to pack it in as much as I can.
Screwed up the attachment.
I think it was Brett Steenbarger who brought up the point of Tiger Woods and Michael Jordan putting in endless hours of practice time to achieve the levels that they have in sports.
I'm of course equating that to screen time and if I hope to make it to that less than 5% of traders who make a decent living, I have to remember that whenever I want a coffee break or want to surf digg.com.
At the same time though, I want to keep it fun. I think that if you really love what you do, there is a spirit of play that infuses it.
Anyway... hope the attachment works this time.
I think it was Brett Steenbarger who brought up the point of Tiger Woods and Michael Jordan putting in endless hours of practice time to achieve the levels that they have in sports.
I'm of course equating that to screen time and if I hope to make it to that less than 5% of traders who make a decent living, I have to remember that whenever I want a coffee break or want to surf digg.com.
At the same time though, I want to keep it fun. I think that if you really love what you do, there is a spirit of play that infuses it.
Anyway... hope the attachment works this time.
Open a chart and make it whatever volume setting you want. Then add a volume histogram and you will see different volume, not really constant, is it? TS knows it does this, and will not do anything about it.
The following is a list I know that builds it correctly:
Open Ecry
Multicharts
Ensign
Ninja Trader
Sierra Chart
Esignal
I am sure there are more, but those are the only ones that I have used.