My trades based on "new way of pivot trading" and vwap

[niftytaurus]

What are white dots in red color candles
Whats the significance ?

hi
these are the candels which has more volume
I dont use it..Its just that I use pratap sir's price afl..& its default in it
thanks

 

[Aman1]

Thanks Aman Bhai for writing such a detailed post for me.





Your chart has one more extra SD,I think that's a 3SD is also enabled on your chart.

But whats the use of 3SD?Price rarely touches it.

aja thanks for asking this. There are two main things to do when price hits 3SD. Just look at the VWAP slope if its flat then book profit.If VWAP RISING trail stop loss. This is one thing. Second thing I do is do not initiate any fresh long (or short at-3SD) positions. because you may end in a losing position. This is a strict no fresh entry zone for me. I never forget this.

post a picture

 

[monkeybusiness]

What are white dots in red color candles
Whats the significance ?

Pratap Sir, code for high volume candle

HiVolume = IIf(V > (2 * MA(V,10)), True, False); 
PlotShapes(shapeSmallCircle * HiVolume, IIf(C > O, colorWhite, colorWhite), 0, (O+C)/2, 0);

 

[aja]

Aman Bhai VEDL Chart

Do you consider bias based on VAH-VAL or trade SD's only?

here price is below VAL means its a bearish bias.We short that arrow when price was about to breach vwap.This short is based on bearish bias.But sometimes what happen
price reverse from vwap itself,it goes upto VAL and again go upto vwap or break it.

So do you avoid taking taking 1st short or will take this short-

I activated 3SD,I got the importance of 3SD Band.

 

[Aman1]

I don't use val vah . For me todays value is todays VWAP. yes I use yesterdays Vwap as target or s/r level . Not val vah. I have described my long and short setup previously.

 

[rjshem]

:clapping:

Combining VWAP, Opening Range and Indicators:
Opening range: OR is the high low of first 5 min 15 minute 30min or 60min. I use 5 and 15min range. Why opening range? Because it gives first participants a chance to establish fair value at the open of sessions. I’m using the word sessions because I use three Opening Ranges as I trade crude oil only. MCX opening session at 10am , UK opening session at 1pm and US session 7pm. My favourite being UK session because of gap issues with MCX opening.
ACD system:
1.A_UP and A_DN
I add two lines obove and below opening range. A line above OR by adding 9 ticks to ORhigh it is called A_UP line or level and a line below OR by subtracting 9 ticks from ORlow. It is called A_dn line. These lines are part of Mark Fisher ACD system from his brilliant book ‘The Logical Trader’. I use the system slightly different way so please read it with a pinch of salt. Basically, when price breakout above ORHigh and reach A_UP and sustain there for sometime it is presumed that it has made an A UP and an indication that market will tren up from here . If market donot sustain A UP level and reverse to the other side of OR for A_DN line it is said to have made a failed A_UP. Similarly A_dn and Failed A_dn are made.
But in a day only one leg can be made. Either A_UP or A_DN not both.
2. C_up C_dn:
If in a trading day an A_UP has been made and then market reverse from a certain level to the other side of OR or across OR it wont be A_DN but it is called C_down and is sometimes very powerful move because it means seller are in control now. Similarly C_UP. Leg will be formed. So thats Mark Fisher ACD system in nutshell. Study it from book for more because as I said I use it slightly differently.
My use of OR , ACD system and Indicators:
I combine OR, ACD and RSIONOBV to form a complete sytem for my trading. I use A_UP and A_DN lines as targets so a 9-10 tick profit target if I short or long from ORhigh or ORlow is a good place to book some profit or scaleout. However, if price sustains below these lines it suggests a trending market and I trade accordingly.
Long setup: A) Price sustaining ORhigh
B) RsiOnOBV above 50
C) price above VWAP
Short setup: A) Price sustaining ORlow
B) RsiOnOBV below 50
C) price below VWAP

There are other finer details which I have deliberately omitted so that new traders are not confused and for them to do some home work. But I think above plain vanilla setups are enough for a new trader or a trader who is not finding success to come out with a successful trading journey. I have omitted Volume Profile from this writeup because it is a huge topic and will require time. So if time permit will discuss and incorporate this into the plan. Good luck to you all.

photo hosting sites

Excellent write up DR sir :clapping:

 

[rjshem]

Good afternoon Sir
For Price action setups, I still using 5 min TF..
with 1 min, I am only experimenting with OBV action..with BNF & Crude only..its just in experimenting phase..Need to see more charts of them..

Sir, Posting some more charts on Price action setups
Thanks

Thanks for the setups hope its serving u well now.:thumb:

 

[Aman1]

Few examples of ACD system:

uploading pictures

uploading pictures

post images

 

[vijkris]

Divergence in TS.. What to do MB bhai..? long or short..obv broke prev high but price didn break prev high..

 

[vijkris]

In a rare occasion this thread moved 20 posts in my absence.. :clap:

Thanks Aman bhai and NT bhai for the valuable contribution. :clap:

I was burning lot of midnight oil since few days hence yday was sleeping like kumbhkaran..
So couldn participate yday in TJ.
Have to go through the previous posts.. Maybe later.