Transcript of a discussion
TO READ THE Nirvana CHART? -
buy:
1.if there is all or mostly green on circle
2.and bar color is white
3.and mov avg (those lines) mostly are below than price bar
4.and white dot(buy signal) appeared
5.and radar( macd) on blue mood
6.and volume spiker gives volume shadow
sell:
1.if there is all or mostly red on circle
2.and bar color is red
3.and mov avg (those lines) mostly are above than price bar
4.and red dot(sell signal) appeared
5.and radar( macd) on brown mood
6.and volume spiker gives no volume shadow
You mean the following one and the candle fill color ?
Actually,no.......There is no reason to add both MACD.........my plan was to keep one single item. If there are two same type of indicators in one single,I usually remove one. For example,I hardly ever use MACD and Stochastic together. Because they both are Oscillators,and will give the same signals...........
In Nirvana,the Candle Fill Color has been the most important thing for me. Because it shows four different scenarios : bullish,bearish,weak bullish,weak bearish..............They are so very important for me to detect patterns,early signals,etc...........!! You might notice,that just before most of the falls or rise,Nirvana will show you weakness in current trend. So,it is the preparation time(for me).............
No,there is no need to use both. You can just replace the one in the Circle with any other indicators you want/or feel comfortable with..............
TimeFrameSet (inDaily);
uptrend=PDI()>MDI()AND Signal()<MACD();
downtrend=MDI()>PDI()AND Signal()>MACD();
UTM3=IIf( uptrend, colorGreen, IIf( downtrend, colorRed, colorLightGrey ));
TimeFrameRestore();
UpA=uptrend;
DownB=downtrend;
my logic is simple - if the signal appears , then activate ur trade with a protective sl ( may be 1 - 2%) below and follow the trend with a trailing sl
as becos - the system tells me to pull the trigger. all indicators combined in the system is saying this
also in case of liquid stock - will u use vol spiker?
liquid scrip is meant by - where the vol is generally more than 1.5 million traded
Note that I trade in nnn,and in Daily time frame..............So,things are very different for me...........I take into consideration where the signals are appearing,and what the volume is telling me........A signal that is appearing at the support level,or at the pullback is more important to me,than a signal appearing just at the top of price level..
//also in case of liquid stock - will u use vol spiker?
liquid scrip is meant by - where the vol is generally more than 1.5 million traded//
...I have my own style of trading with volume. I only take the "Spikes" of volume into consideration. I take into considerations those volume that breakout after flat zones. Also,I take into considerations where that breakout of volume is occurring.............And in my country,we have no fixed volume. I mean,it doesn't matter to me if the vol is over 1.5 millions or 2 million..............What I care about is whether big traders are sliently buying stocks. It is easily detectable through spikes of volume...............Doesn't matter if the volume is above 50000 or 100000. All that matters to me is whether the volume is creating spikes..
