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Gary,
There's an indicator that was developed for the Amibroker trading platform which has been translated for NinjaTrader and ThinkOrSwim which is called the VPA (Volume Price Analysis) indicator. The programmer of this indicator, Karthik Marar, has done backtesting on Amibroker with his indicator. This is why I asked about the possibility of the Wyckoff specific trading platforms and plugins having been backtested. I have seen a number of trading platforms specifically for using the Wyckoff method and then there is David Weis's Wyckoff Market Analyzer for Ninja Trader, Trade Station & Meta-Stock.
This is an image of backtesting the VPA indicator on the Amibroker platform.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
I'm trying to summarize the Wyckoff Tags that I keep finding on charts posted in Wyckoff forums, but I'd like to get some feedback from you guys. Some of these tags are not in the Fullett Glossary of Wyckoff Terms; so if you've seen them in some other location and my labels are misguided, please let me know. The image I'm posting may not be clear, so I'm attaching the document for download.
The usefullness of these tags comes in doing the PnF chart counts, because some ranges shown on the vertical chart show up differently in the PnF chart and require multiple levels of counts partitioned by each phase of the range. The PnF count spans the entire range at levels of either strength or weakness depending on whether the range is accumulation or distribution. Sometimes there may be several levels of strength or several levels of weakness.
It may be that some of the tags you see are VSA tags such as No Demand. I've heard that was a term coined by Tom Williams. There may be others like that and I think Shakeout may be one, but not 100% sure on that one. That's about all I know on that.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
hi, Gary, attached is 6A 60min chart, I marked my entry
here is question, should I enter the trade as soon as I see upthrust before bar close at downtrend background? or wait for the close of upthrust bar? what I did is entering before that upthrust bar close, a little scary.
I don't thick that is really an Upthrust trade. My understanding of an Upthrust setup is the retest of a prior high. In other words, you have an old high in the background where price was rejected. If price were to revisit that area and exceed it but close below the old high, that would be an Upthrust. What you show is a bar that had supply in it. Structurally, something has changed. The downtrend on the left of your chart has been violated. If you draw a trend channel on that down trend, the channel has been broken. Also the wave up to what you call the UT is the largest up wave than any prior wave up, so the behavior has changed. My 2cents.