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Cory's VolumeStopV3 (and now V4) - Worth A Look!
Started:September 29th, 2009 (08:02 AM) by HJay Views / Replies:74,188 / 339
Last Reply:April 17th, 2014 (06:26 PM) Attachments:88

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Cory's VolumeStopV3 (and now V4) - Worth A Look!

Old October 5th, 2009, 05:29 PM   #31 (permalink)
Elite Member
CA
 
Trading Experience: Intermediate
Platform: NinjaTrade, Amibroker, QT
Broker/Data: IQfeed
Favorite Instrument: ES
 
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cory View Post
ok, looks like you want some rules, some set ups, you got it!

note in chart I added TRIX indicator twice, one to the lower panel and one to the chart to color the back ground note: auto scale set to false.

during the pink time treat all dot lines as support lines, you look for b/d and the trigger is when a bar closes below the dots. during the blue time treat all dot lines as resistant lines, look for b/o and the trigger is when a bar closes above the dots.

ps. set length = 200

Have you noticed that it needs strict SL rules when mkt is choppy. I haven't monitor this one for long time nope try to barebone and backtest it. I wonder if you got any idea? thx

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Old October 5th, 2009, 07:12 PM   #32 (permalink)
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today was very choppy but the setup still worked when I monitored it.

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Old October 6th, 2009, 07:24 PM   #33 (permalink)
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ok this is going to be one of those long wind post you can skip it but it is kind of interesting, first of thanks for making me #2 right after the leader of all time MM and MM had been around for what? 30y 40y? Anyway the whole thing started when Mike was suddenly super excited about the fractal indicator which sprung from Bill William's mind. So he added a short swing line to the fractal to make it more swing like indicator so now we have a fractal indicator that looks like a swing indicator. The problem is fractal signal lags by 2 bars and that is like all time in the world for a scalper. But it inspired me to add the adjustable swing line to my volstop indicator so not all is lost. Alright part II, recently somebody make an indicator out of AO and AC indicators also by Bill William and that reminded me maybe we can use his AO, AC and volstop as a faster fractal signal. So that is the whole story, you can download AO, AC at ninja site Links and Downloads Manager - Indicators - NinjaTrader Support Forum
ps. look under letter P as in Profitunity for the indicators after you import them.

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Old October 7th, 2009, 05:26 PM   #34 (permalink)
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we all want a perfect indicator but it is a pain to wait for everything to line up.

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Old October 7th, 2009, 05:32 PM   #35 (permalink)
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so we stick with one indicator but then a) do we set it at a smaller interval to get them all including false signals or b) set it at a bigger interval to get less false signals but the waiting is also a pain beside there is no guarantee that it will be a winning signal.

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Cory's VolumeStopV3 (and now V4) - Worth A Look!-trix3.png   Cory's VolumeStopV3 (and now V4) - Worth A Look!-trix8.png  
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Old October 7th, 2009, 07:39 PM   #36 (permalink)
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cory View Post
so we stick with one indicator but then a) do we set it at a smaller interval to get them all including false signals or b) set it at a bigger interval to get less false signals but the waiting is also a pain beside there is no guarantee that it will be a winning signal.

Utilize the larger time frame to get the general idea of the market, but use your smaller time frame trade triggers, but only on the side of the larger time frame market direction. Go with the current, not against it. Less whipsaws and more overall confidence.

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Old October 7th, 2009, 08:25 PM   #37 (permalink)
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cory View Post
so we stick with one indicator but then a) do we set it at a smaller interval to get them all including false signals or b) set it at a bigger interval to get less false signals but the waiting is also a pain beside there is no guarantee that it will be a winning signal.

Great question.

For me, the single most difficult thing about trading is NOT trading, i.e. when to stay out of the market. Sitting in front of the screen NOT trading is pretty dull, waiting for only the best/highest probability setups - but is FAR more profitable.

I think every trader has to seriously ask themself the question: Am I trading to trade, or am I trading to make money? If the latter, put up with the boredom of NOT trading and NOT being in the market a lot of the time and only take the best, highest probability setups.

I have often found it tempting to drill down to really small timeframes/tick moves to get lots of action/trading opportunities. Thing is whenever I have done this, I have ended up transferring money out of my account and into the account of other traders. Then I realise I am better off being bored but profitable rather than excited and poor.

Cheers
Simon

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Old October 8th, 2009, 08:23 AM   #38 (permalink)
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gannman View Post
I have often found it tempting to drill down to really small timeframes/tick moves to get lots of action/trading opportunities. Thing is whenever I have done this, I have ended up transferring money out of my account and into the account of other traders. Then I realise I am better off being bored but profitable rather than excited and poor.

I open another chart, throw some indicators on it to test them out, and open another DOM set to sim. I have to use another market just to keep the chart markers from interfering in my main chart. But it let's me play around without losing any money.

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Old October 10th, 2009, 11:01 PM   #39 (permalink)
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fairfax, va
 
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Posts: 3,951 since Jun 2009
Thanks: 467 given, 4,124 received

So to celebrate the 500th download I borrow tro buy/sell zone code and websouth one line trading idea to create B_S_Zone indicator (it's getting hard to have any original idea with so may creative coders on this forum )
now ready at the download section
Downloads - Indicators - Big Mike Trading Forum

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Old October 10th, 2009, 11:29 PM   #40 (permalink)
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cool stuff Cory

Thanks

SSS

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