Tuesday 29 October 2013

Is It a Buy or Sell? Easy!

 
 
Is price here a BUY or a SELL? Value had dipped into the porevious day's VA but has also moved up a tad. Now look at the next pix below.
 
You can see that it was a BUY. Value moved up. Now look at the last pic. The renko chart shows trend as up and clearly identifies the pullback and thrust to get me long right at VAH support. Putting these two disciplines together provides more clarity of what "they" are doing.



11 comments:

  1. If the market had opened outside the prior day's VA and the trend was down as price traded back into the VA, would you short against the VAH?

    It's great that you've started posting to the blog regularly again, by the way :)

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  2. Anon 14:09, yes, if my bar chart confirmed the pullback-thrust

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  3. Thanks. And do you treat the POC in the same way as VAH and VAL, or do you pretty much ignore this?

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    1. Anon 13:38, POC is support and resistance, part of the context but the bar chart does the timing.

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  4. Hi EL,

    Are you still planning on writing your book on Actionable Market Profile Strategies?

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    1. Anon 14:10, I'm looking at that now. Things came to a halt when my Mother became ill.

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  5. EL, I have a question that is a little off topic but I think you can shine some light on; I have a few ideas for a flo bot of my own that I want to get codded up and I want your honest opinion on the your experiences running automation on both MultiCharts and Ninja Trader? I'm trying to make a decision on which language to have my bot coded in and it looks like you have experience with both. Any help will be greatly appreciated. Thank you.

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    1. Unknown 15:02, I have a Jaguar and a Mercedes. Both are great but I use them for different purposes. Which platform depends on a number of things starting with the bar type ou want to use for trading. Secondly, it depends on your budget. NT programming costs several multiples of MC programming. Having said that, unless you have very deep pockets, I would try and avoid hiring a programmer unless you know exactly what you want the code to do as otherwise you won't know what it will cost. Any changes you want to make will again need time and money to accomplich. i'd suggest looking at doing your own coding. Either in easylanguage which is easy plus you can pay a programmer to create you a template into which you can yourself program and change logic, or, use Bloodhound for Ninja where programming knowledge is not needed and very complex programs can be created.

      I am currently using both Ninja and MC.

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    2. Thank you for the quick reply. I fully understand what you are saying. However, costs of programming aside, I will be using tick and volume data to make my charts. Also, which one seems more robust under stress? Which do you think gives a more accurate backtest result? Thanks again.

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    3. Ninja backtesting needs to be done by MarketReplay to get more realistic results. MC has look inside the bar tick backtesting for many bar types. If you rely on backtesting then make sure the algo passes walk forward testing as if it doesn't its unlikely to be profitable live. For Ninja to be robust, it needs to be programmed in "unmanaged" mode which adds additional time and expense.

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  6. My Ninja stuff uses Bloodhound for the algo and the LURenko bars.

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