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I found everything in my life, including trading, works just the opposite - when I want something too much, it runs away from me. When I relax and let go, it comes to me. This is, of course, quite counter-intuitive, and I don't expect most people to understand this.
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
The Dots are plotted against Price, even though it appears to me you have the TradeFlowRisk indicator in a separate panel. That's OK.
I've not used it on a 200 tick chart, but that should not be significant.
Dots which are placed directly on Price "candles"; have the meaning of
"Super Spike" or "Big Lot" Volumes exceeding threshold.
Those Dots placed Away from Price indicate that Risk exists on Inventory.
Indicators with specific purposes may have a "preferred" Chart timeframe
or Charting type. That's true for any Indicator. I prefer to use it on an
Interval chart <1 minute or Tick Chart <10 ticks or so, but that's just
me. I'll try and attach a live picture of my 5 Second NQ chart with
2 instances of TradeFlowRisk running, "dragged" overlain on Price.
Parameter values for the two instances are:
comment line
RISK_THRESHOLD=12
RETENTION_SECONDS=600
MULTIPLIER=1
BIGLOT_MINIMUM=2
TAPER_SIZE=True
SUPER_SPIKE_THRESHOLD_RATIO=10.0
and...
# comment line
RISK_THRESHOLD=10
RETENTION_SECONDS=180
MULTIPLIER=1
BIGLOT_MINIMUM=3
TAPER_SIZE=True
SUPER_SPIKE_THRESHOLD_RATIO=2.8
I've selected one or the other color schemes for the instances.
[EDIT] The chart tells me a "whole narrative" of how Market Maker is taking
both Long and Short Risk (typically support and resistance areas) and how
the Retail player's Buy/Sell behavior is responding to Price movements...
[EDIT2] Having both of these overlain on the Price chart takes a bit of
mental adjustment to understand how to interpret things. There are
Inventory fluctuations (according to the Retention window durations)
and there are Market Maker Risk scenarios being shown; and there are also
"Big Lot" trade indications; typically at tops and bottoms also... Lotsa info?
[EDIT3] Not sure here, cuz I didn't see your retention interval; but maybe
you should use a longer Retention Interval; although that is dependent on
how frequently you'll want to extract "tops" and "bottoms" in your trading?...
[EDIT4] Personally, I don't care for those "narrow strips" for Indicators, as you have it
shown. If I were you, I'd drag it onto Price. Now there could be color conflicts or some
such confusion there, but you can alter the code... I like to see the "inventory swings"
more strongly; and also I'd suggest to run another instance with a shorter retention
window, so that you can see both the "faster" and the "slower" fluctuations in net
inventory estimates (this is a quick 'n dirty short term inventory estimate) ... Lots of ideas when you're working with something like this; but you have control
over many of the parameters, and how you learn to use the indicator for your
personal needs...
[EDITlast] The Risk Threshold setting will determine how much Risk must exist
before Risk Dots begin to appear also, as I'm sure you know...