Thoughts on Day/Swing Trading Part 2

[murthyavr]

ST,

The price is being plotted twice in your TDST afl (that's why you are getting price twice in the sidebar in your Amibroker).

Please remove this last chunk of code:

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
_SECTION_END();

 

[Smart_trade]

ST,

The price is being plotted twice in your TDST afl (that's why you are getting price twice in the sidebar in your Amibroker).

Please remove this last chunk of code:

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
_SECTION_END();

Thanks Murthy......I am dumb when it comes to AFLs.....thanks for pointing this duplication...

ST

 

[ritesh.bafna88]

VWAP

To start this system on stocks i have restricted my self to the analysis of only those stocks which are traded in futures. The reason for the same is that the VWAP observation are based on psychology of market where we take the advantage of the traped bull or bear to panic.(for more clarity please Read posts of SMART TRADERJI). this technique has been used on NF and BNF hence it is clear (in my assumption) that the traders must have the fear to square of the position on the based on several reasons as Margin, Expiry etc.. As we know the price of the futures is derived from its underlying spot stock, hence i am using this technique on these stocks only.

readers please understand that stocks dont react on the same lines as the NF and BNF do and hence criteria of difference between close and VWAP to be more than 30 or 35 plus has to be kept out of the perview.

as i said all the stocks react in different ranges, we have to scan the same stock for different time periods and workout the parameter as to what difference in close and VWAP should work for us. (this difference has to be calculated for each stock individually)

as the technique is based on panic, we will keep the time the same as the last 1 or 1.30 hours of trading day.

(Will shortly update more info as soon as time permits)

Regards
Ritesh

 

[VIKAS 21]

Sir

Please tell me what the big spike candle in this chart representing?? Is it showing that price will go to touch the Low of this spike candle??

 

[ritesh.bafna88]

I too get the same candles in different stocks... I first confirm the move with ODIN charts... Most of the time the charting software has some kind of bug which leads to a spike which actually neveer takes place... After confirming the high and lows from odin charts with reference to time i do the modification required... In amibroker one can use quote editor for this kind of modifications...

I also noticed that these spikes are mostly form till the high or low of the day..

Before any modification pls check with a reliable source... Dont just assume the spike is due to a bug...

I hope this would help u

Regards
Ritesh

 

[Smart_trade]

Todays upmove was strong and clear. The chart has many indications that a strong upmove is unfolding. Marked are 2 such indications, there were other indications too and the trader has to trade only from long side....

Chart is self explanatory.

Smart_trade

 

[murthyavr]

Todays upmove was strong and clear. The chart has many indications that a strong upmove is unfolding. Marked are 2 such indications, there were other indications too and the trader has to trade only from long side....

Chart is self explanatory.

Smart_trade

Dear ST,

And these gaps have a name.. You know what it is?

They are called ST Gaps !

While chatting with other trader friends, we always refer to them as
ST gaps..

Yes, these gaps give an early indication of the coming strong trend.
Thanks for introducing this concept to us..

 

[trade4joisar]

Todays upmove was strong and clear. The chart has many indications that a strong upmove is unfolding. Marked are 2 such indications, there were other indications too and the trader has to trade only from long side....

Chart is self explanatory.

Smart_trade

ST,

Might be dumb question, but i like to have more details on this gaps.

If anybody have any previous post, please let me know.

 

[murthyavr]

Todays upmove was strong and clear. The chart has many indications that a strong upmove is unfolding. Marked are 2 such indications, there were other indications too and the trader has to trade only from long side....

Chart is self explanatory.

Smart_trade

ST,

I have a question on the same chart. Please see this chart with my markings:

Two highs were marked on this chart. Price made a lower high, and then
broke the PL between those highs. This gives rise to a short trade, generally.
However, the breakout was a failure.

How should we avoid taking that short trade? The fact that there was no
volume during the breakout helps? Or is there any other good filter to skip
that short trade?

(No two charts looks similar. Different vendors have different data..
Btw, how come there are 76 bars on your 5min chart?)

 

[gunsho]

ST,

Might be dumb question, but i like to have more details on this gaps.

If anybody have any previous post, please let me know.

A gap between the pivot high and the immediate pivot low indicates good strength.