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Now that I think about it, it wasn't Volume Stop Jeff it was Volume Spike! I get them confused.
Hey Jdella, I didn't make the indicators. I'm just testing them out. I've always favored volume indicators over price indicators. For the past 6 months I've limited myself to 1 price indicator. I think it's a good practice. When you get a price pattern like a reversal bar confirmed by volume it's a good trade.
Volume Stop & Volume Spike are both in the download section.
Also, I am using 5min charts for all my markets. I find it easier to use a single timeframe for everything and 5min gives me time to plan my trades and put in stop orders. I tried range bars but did not like them because they compress price action and you miss out on a lot of information. Like Doji's and small trading ranges. These can become invisible with a range bar and doji's are very important for me in looking for reversals.
Jeff - I'm not sure about counter trend or trend.. it looks like they work best counter trend, when price is away from the 20 EMA. like price went too far and then the volume signals that it's coming back. But counter trend on 5min could also be trend on a higher timeframe.
I posted a template and my modified versions of the indicators in my volume thread. But for the dots I just modified the code to change from arrows to dots. I love a great set of dots.
(I prefer dots so that I can reserve my arrows for marking my own trades)
The one indicator that draws the triangles is based on William Blauw's Ergodic Oscillator,
whilst the dots are derived from moving averages that try to identify the first pullback
entry during a trend. As for entries I focus on first and second pullbacks as well as Lower
Highs and Higher Lows. I am working on my exits as I realize that multiple contracts are the way to go. On the YM I pull of one contract at 8 ticks , and leaving the
other to reach defined support and resistance like mml, or pivots(this improves the rr
ratio). I am trying to teach myself to have more patience during the winning trades ....
Will post some more charts if my programming holds up ...