2009.06.09 STOPPING VOLUME

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TheRumpledOne
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2009.06.09 STOPPING VOLUME

Postby TheRumpledOne » Tue Jun 09, 2009 3:56 pm

2009.06.09 STOPPING VOLUME

Image

Someone sent me this LINK.

Stopping Volume Pattern (Emini 5 minute)

Professional profit taking is occurring when the following conditions are met:

* Volume is greater than the previous bar's volume
* Range is less than the previous bar's range
* A new high is made (in an uptrend) or a new low (in a downtrend), and
* Closes off the highs (in an uptrend) or off the lows (in a downtrend)

The reduction in the bar's range is the real key. It shows that additional selling (in an uptrend) or additional buying (in a downtrend) is keeping the bar's range low. So Professional traders are taking profits and/or "fading" the current trend.

You will almost always see Stopping Volume patterns leading up to a market turning point. However, if the trend is strong it might take several Stopping Volume patterns in a row to slow the trend. Remember, most turning points are Stopping Volume patterns, but not all Stopping Volume patterns are turning points!

VSA UPDATES

Image

TRO_MM_VOLUMEPCT shows the current volume as a percentage of previous volume. I also added that display to the BetterVolume 1.4_TRO_MODIFIED_VERSION indicator.

NOTE: If you load up more than one volume multimeter, adjust the inputs so the indicator isn't using more than 100 bars of data, OTHERWISE your computer will slow down. Remember, a multimeter takes the place of 9 charts.

FREE MT4 version of TRO_STOPPING_VOLUME, TRO_MM_STOPPING_VOLUME, and TRO_MM_VOLUMEPCT including SOURCE CODE, attached.



PLEASE DO NOT POST MY CODE ON OTHER FORUMS.


NOTE: UPDATE - added average volume percent to BetterVolume 1.4_TRO_MODIFIED_VERSION indicator
Attachments
TRO_VSA.zip
(122.45 KiB) Downloaded 3012 times
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Postby jefe » Tue Jun 09, 2009 9:19 pm

Dr. TRO,

Thank you Very Much!!!

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Postby TheRumpledOne » Wed Jun 10, 2009 1:01 am

Dr.?

LOL.. I'm a pirate.. .more like Capt. TRO

Way too funny....
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Postby TheRumpledOne » Wed Jun 10, 2009 1:07 am

Image

This is profitable.
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Postby TheRumpledOne » Wed Jun 10, 2009 6:22 am

Image

See the green X signaling a reversal? It was a quickie at the last 5 minutes of the hour. Then price shot up and so did volume... a BLOW OFF TOP. Then, price dropped... DRAIN THE BANKS!!
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Postby TheRumpledOne » Wed Jun 10, 2009 6:25 am

Image

See the green dot under M30?

Switching to that chart period, shows the accumulation BEFORE the up move.
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Postby $mm » Wed Jun 10, 2009 6:45 am

TRO- If you have a few minutes can you post a few comments about what the indicators mean in the legend? For example how is a warning actually calculated, climax churn, etc?

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Postby TheRumpledOne » Wed Jun 10, 2009 1:26 pm

The legend is for the TRO MM VOLUME
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Postby johnsund » Thu Jun 11, 2009 12:18 pm

TRO - Where do you suggest we go to learn more about the subject, especially how to utilize the way you are displaying the information? Thanks.

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Postby TheRumpledOne » Thu Jun 11, 2009 12:25 pm

I posted the links to where I found all of the code that I modified. Read those links.
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