Real time volume histogram
- Thread starter piggie
- Start date
The VWAP bands are just calculated by adding/subtracting half the days range from the VWAP as dcraig mentioned in earlier post. As for how to trade them...I would guess they would be used as support (lower) and resistance (upper) but maybe dcraig can give us some insight on this.
Hi Piggie,
Hows your project going?
I have been messing round with making my own MD tools using Multicharts (Tradestation clone). Unfortunately it does not have an easy way of outputting an bbb X aaa type display but I figure I might have a crack at getting that into Excel.
Still running the MD trial and will give RT a try after that. I have to say i much prefer to buy an outright licsence than the month by month drip.
5pillars do you pay any attention to delta from the overnight session? I guess it gets 'wiped out' pretty quickly. What bar size do you use for your 'main' daily trend? 30 minute looks like it might be kinda useful.
Cheers,
Nick
Hows your project going?
I have been messing round with making my own MD tools using Multicharts (Tradestation clone). Unfortunately it does not have an easy way of outputting an bbb X aaa type display but I figure I might have a crack at getting that into Excel.
Still running the MD trial and will give RT a try after that. I have to say i much prefer to buy an outright licsence than the month by month drip.
5pillars do you pay any attention to delta from the overnight session? I guess it gets 'wiped out' pretty quickly. What bar size do you use for your 'main' daily trend? 30 minute looks like it might be kinda useful.
Cheers,
Nick
I do have a 30 min MD chart up but I mainly use the 5 minute for my bracket trades, and then a 1 minute for my scalp trade set-ups. Today I had 17 MD based scalps with the really good range and price movements we had......that was intense (paying attention all day) but also fun. 
I usually only take about 5 to 8 scalp trades a day, but today they just kept giving me strong signals with many of those momentum moves.
I think I need a couple Warsteiner's after all that screen time!
Almost forgot....yes I track several time periods separately with MD, and the overnight session is in two of the time segments I track (this is for the US market products like the ES).
I usually only take about 5 to 8 scalp trades a day, but today they just kept giving me strong signals with many of those momentum moves.I think I need a couple Warsteiner's after all that screen time!
Almost forgot....yes I track several time periods separately with MD, and the overnight session is in two of the time segments I track (this is for the US market products like the ES).
Yes it was intense Friday. I was trading the DAX at the time which can be a charging rhino without much provocation. Played short through the volatility though long could have made money too. That was a bit before the US open if I remember. guess I should check out when reports are due, shows up on screen soon enough
A couple more questions if I may. Your bracket trade. Do you usually take that from just after the open or later in the day also? (for example if the 5 minute has been consolidating for a while later in the day). Is this a longer term trade than the scalps? Just curious.
I presume the scalps are generally in the direction of the daily trend. Do you wait for pullbacks? Do you use delta to actually tune precise entry levels?
Finally I presume as the day (or perhaps I should say trend) progresses the absolute value of the delta becomes less important and relative amount becomes more important (as it moves from + to - for example).
Appreciate all your insights and enthusiasm for MD.
Cheers,
Nick.
A couple more questions if I may. Your bracket trade. Do you usually take that from just after the open or later in the day also? (for example if the 5 minute has been consolidating for a while later in the day). Is this a longer term trade than the scalps? Just curious.
I presume the scalps are generally in the direction of the daily trend. Do you wait for pullbacks? Do you use delta to actually tune precise entry levels?
Finally I presume as the day (or perhaps I should say trend) progresses the absolute value of the delta becomes less important and relative amount becomes more important (as it moves from + to - for example).
Appreciate all your insights and enthusiasm for MD.
Cheers,
Nick.