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Hello All: This thread represents a tremendous amount of work and I thank you all for building it. I am working my way through your amazing work, and I will try to keep my questions to a minimum as I'm sure the answers are here, I just haven't reached them yet.
I am attaching a screenshot of the indicator (along with some other indicators).
I have four questions:
1. On the oscillator, what do the vertical lines measure?
2. On the oscillator, what does the redline represent?
3. On the price chart, what do the three lines of numbers represent?
4. Can someone point me to a thread that goes into "how to use" the indicator(s)?
Ad 1. Cumulative volume (of the swing)
Ad 2. Cumulative volume building up during the swing. Is not definite yet as long as the swing is underway
Ad 3. Not sure, you try it out by hiding the properties. Probably something as ticks, volume, time
Ad 4. Subscribe to David Weis free daily newsletter ( weisonwyckoff), watch his videos (here on FIO) and read his book.
Trading: 6C (Low Margin,) 6E, CL, GC, ES and Maybe DX for smaller tick value
Posts: 1,394 since May 2011
Thanks Given: 1,719
Thanks Received: 1,020
, I wonder how far you read this thread. The first post provides this information:
Swing values:
Here you can choose which information the swings should display.
Information:
- Duration (in bars)
- Labels (HH, HL,…)
- Length (in ticks, points,…)
- Percentage (in relation to the last swing. e.g. 100% = DT/DB)
- Time
- Volume (Absolute and relative. Relative is the average volume per bar)
Hope you at least read to there - about half way down the post. If you just happened to miss that - then ignore this comment.
I will mention that I believe the colors for the ABC visualization entry lines are reversed and should be changed. They are the thicker lines at the right edge that started green and then went to a long red. Switch those colors. Although someone said if it is red it means that the entry failed, I like the colors reversed.
I do not use the oscillator but from your image it looks like those colors are reversed also.
jmont1: You are correct. I guess there was so much information in the thread that I just did a cursory review of the first post. I appreciate your assistance (and your admonishment). I am going through this thread much more carefully now. Also looking into whether colors are reversed.
If you look at the code you will notice the stepped Red line that you marked is simply an average of the last swing volume.
I have no idea why it is included (almost redundant to the volume plot itself). But it is a visual indication of what David H. Weis calls "SOT" (Shortening Of Thrust), or simply deceleration of the upward move and a possible reversal when steps are getting very small.