Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Do you know if David Aronson made a similar study for VWAP. I ask this because i see many things which are common between the way VWAP is presented here and the way proponent of Fibonacci sell their ideas. Maybe we see only what we believe and discard things which are in contradiction to it. As trader we need to pay attention to this tendency of the mind to search for, interpret, favor, and recall information in a way that confirms or supports one's beliefs.
From my recollection he does not. His approach is generally looking at traditional TA from an evidence based approach. For example, he debunks the head and shoulders pattern very early in the book and he also blows up Elliott Wave pretty good too. He does this by cleanly laying out his approach which you can follow along with. His approach is based on evidence vs. anecdotal.
For STATITICIANS with an interest in trading markets you'll likely walk away with the feeling: "Yeah, that's what I've been thinking for years, nice to see someone took the time to debunk the TA myth."
For TECHNICIANS (traders) with an interest in statistics you'll likely walk away thinking "You gotta be kidding. There are a hundred good books which can show you how to use TA to make money. This book sucks."
--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Might get into the weeds with this chart... I use bands on prior week vwaps to find S/R levels. JB wont like the fibs I use but they show some promise. Maybe just random lines though.
Very interesting to see how price respects and migrates between the vwaps. Keep in mind that only the 2 white vwap lines are the same for everyone. The rest of the SD lines are arbitrary based on users.
My pivot lines are bands of the previous days vwap value area (my interpretation of value)
I am attaching an anchored vwap I had coded from the original Midas.
It's a bit cumbersome compared to most on the market now.
One thing it has though is displacement channels. It doesn't have multiple bands, however.
Perhaps Edevaay might see something in the code he feels worth putting into his product.
When loaded on a chart you have to press the ctrl key and mouse over bar you want it attached to. It has a calibration button so you can have it basically anywhere on a bar or bars back/forward.
Yep, a nice indicator for people that don't have the ability to anchor a VWAP at the moment. Thanks for sharing to the thread. It wouldn't be too difficult to add the 2nd and 3rd SD either.
--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------