TC2000 Question about BOP, TSV and Money Stream

[jem]

If you spend some time looking at bop and a volume chart you can figure out what it is. Big volume spikes get weighted with the direction of the move.

 

[swimmus]

Your thoughts on each of those indicators is roughly equal to my thinking as well. BOP gives no clear signal by itself for sure and MS tends to not fit my personal criteria. TSV has always been the one that I never found much use of.

Thanks for your input.

Quote from formikatrading:

1. As someone mentioned, I think MoneyStream (MS) works a lot like OBV but not always. I set up one of my chart templates with both MS and OBV right on the price chart so it traces the moves. The best use I've found is to look for situations where MS doesn't confirm. An example is XAU -- look at the runup thru 1/5. MS didn't confirm the move (i.e., negative divergence).

2. BOP is fairly useless in my opinion on indexes, except in special circumstances so I only use it on individual stocks or ETFs. In any event, I only use it on the price chart (not as a separately plotted indicator). It may give you some signs of extreme moves or exhaustion but it's not a stand-alone indicator by any means.

3. TSV is difficult to use and not one of my primary indicators. I found the best use of it is to plot an MA of it and look for divergences.

Hope that helps.

 

[swimmus]

BOP really tends to mark bottoms and tops on some stocks on how I apply it. I am currently trying to tie it together with some basing patterns (I visually scan charts) but have not developed a functional scan that will do it for me.

Thanks for your input.

Quote from jem:

If you spend some time looking at bop and a volume chart you can figure out what it is. Big volume spikes get weighted with the direction of the move.

 

[swimmus]

I really did not "get it" after reading it, maybe I'll read it again.

Thanks

Quote from easyguru:

With your first TC2000 CD you get a user manual which goes it to elaborate explanation of all these indicators.
Money flow is basically tick volume. This indicator is calculated by adding the volume on upticks and subtracting on downtick. it is like OBV
Moneystream is like Chaikin Money flow but uses different formula.
BOP is accumulation or distribution indicator.