My trades based on "new way of pivot trading" and vwap

vijkris

Learner and Follower
a beautiful explanation of idf by vivek ji. :clapping:
IDF – Intra Day Flow
Disclaimer: The below mentioned write-up is an attempt to derive a workable understanding from a relatively complex system IDF, its only for beginners like me to atleast have some grasp of the concept. I know I might have made multiple mistakes in interpretation or comprehension,Dear Subhadeep and other seniors can help to correct them.
Some important terms, phrases and common diligence related to concept:
Intraday - as we liquidate all our positions intraday
Flow- flowing with trend till it exhausts and changing direction when trend changes.
Perspective chart 15min.
Trading chart 5min.
It is a price action strategy.
Any indicators: none
Applicable: only in strong trends
Stay out in sideways, Flags, wide range opening bars - one gets tossed around both ways if you follow this strategy in such a market.
No catching of tops and bottoms- being trend traders we can't hope to catch the extremes, just be a part of an existing trend till it exhausts.
Concept of ERL: early reversal line (post#223, page23, this thread, on how to draw it) is basically meant to alert and get you out of a trend (and position) just when it starts to reverse and taking a counter position after the counter trend is established.
A word of caution: in the beginning counter trends should best be avoided (as the counter move may be limited), and better to take with the trend reentries if they arrive. Trends can last longer than most traders expect.
Breakdowns are always more dependable than breakouts.
A bear is a bear (as Subhadeep once put it) : we should be more aggressive in adds in a bear than a bull.(rjshem once said)
As with all price action strategies the quality of set up is important, for e.g. a long over a pivot composed of dojis without any good bodied bull bar is a suspect set up which may fail and give a trade in other direction
Entry : at the break of yesterday's visual pivot, minor pivot (will be elucidated further in detail with chart examples)
When we enter in the direction of yesterday's trend our rules are relatively liberal (we enter at the break of yesterday's minor pivot), because it is perceived as a continuation of yesterday's trend, we enter early.
When we enter against the direction of yesterday's trend we are more cautious and look for break of more dependable visual pivot .
Adds: at minor pivots, 2 or at the most 3adds (Smart_trade)
Exit : break of mpl if long or break of mph when short or a known support/resistance.
Yesterday's visual trend/range: the visual trend/range of yesterday's last trading session (tentatively 1:30 to 3:30)
Open Gap up/ gap down in yesterday's range - quoting ST's post that explained this (crystal:))
Opens gap down/ gap up in yesterday's afternoon range.

Let us say market is in uptrend,then in the afternoon the upmove accelerates and market closes at or near the high of the day.Next day the market opens gap down in earlier day's (meaning today's) afternoon range.

Smart_trade
......,........,
Visual Sideways: easier to see in 15min chart (price moving in range)
Visual pivots: easier to see in 15min chart ( every minor pivot in 15min chart is a visual pivot)
I am intentionally leaving the erl based entries for the time being to keep it simple. Instead I include the visual pivot enteries( a more stricter condition) where erl is part of entry condition. So we are not concerned whether price opened above or below erl as we are entering on visual pivot break.
All the conditions enumerated below are for opening trade .
Yesterday visual up and price open in range , we go long at the break of yesterday's minor pivot high mph (consider it as a trend continuation)





Yesterday visual up price opens gap up above VPH we go long over today's minor pivot formed over today's first bar (this guards you in case a gap opening is followed by gap filling)




Yesterday visual down and price open in range , we go short at the break of yesterday's minor pivot low.(consider it as a trend continuation)




Yesterday visual down price opens gap down below VPL we go SHORT below today's minor pivot low formed below today's first bar (this guards you in case a gap opening is followed by gap filling)






Yesterday's sideways today open in range, wait for a 5min candle to close outside the range that is above or below it, then go long or short accordingly above or below that candle.




Yesterday's sideways today open gap up above vph, go long over minor pivot high formed over first bar.




Yesterday's sideways today open gap down below VPL, go short below minor pivot low formed below first bar.





Vivek[/B]
 

vijkris

Learner and Follower
words of wisdom :thumb:
I have made it into a principle that I want to follow, "we can't be fearless in trading until we mentally accept a potential loss before taking the trade,and also we can follow rules AND OUR TRADING PLAN only if risk is under control"

So better assume that all positions we take are wrong.
 

vijkris

Learner and Follower
hi, check out automatic trendline, based on linear regression.



Code:
SetChartOptions( 0,chartShowArrows+ chartShowDates |   chartWrapTitle );
_N(Title = StrFormat("{{NAME}} {{DATE}} {{INTERVAL}}: O=%1.2f, H=%1.2f, L=%1.2f, C=%1.2f, V=%1.0f\n{{VALUES}}", O, H, L, C, V));

_SECTION_BEGIN("MA");
P = ParamField("Price field",-1);
Periods = Param("Periods", 21, 2, 300, 1, 10 );
Plot( MA( P, Periods ), _DEFAULT_NAME(), ParamColor( "Color", colorCycle ), ParamStyle("Style") ); 
_SECTION_END();

_SECTION_BEGIN("Volume At Price");
PlotVAPOverlay( Param("Lines", 300, 100, 1000, 1 ), Param("Width", 5, 1, 100, 1 ), ParamColor("Color", colorCycle ), ParamToggle("Side", "Left|Right" ) | 4*ParamToggle("Z-order", "On top|Behind", 1 ) );
 
_SECTION_END();
_SECTION_BEGIN("linreg");
lookback = Param( "Look back", 20, 1, 200, 1 );
shift = Param( "Shift", 0, 0, 20, 1 );
multiplier = Param( "Width", 1, 0.25, 5, 0.25 );
color = ParamColor( "Color", colorRed );
style = ParamStyle( "Style", styleLine | styleDots );
pricestyle = ParamStyle( "Price style", styleCandle | styleThick, maskPrice );
//
// price chart
Plot( Close, "Close", colorDefault, pricestyle );
//
array = ParamField( "Price field", 3 );
//
x = BarIndex() + 1;
lastx = LastValue( x ) - shift;
//
// compute linear regression coefficients
aa = LastValue( Ref( LinRegIntercept( array, lookback ), -shift ) );
bb = LastValue( Ref( LinRegSlope( array, lookback ), -shift ) );
//
// the equation for straight line
y = Aa + bb * ( x - ( Lastx - lookback + 1 ) );
//
width = LastValue( Ref( StDev( array, lookback ), -shift ) );
//
drawit = x > ( lastx - lookback ) AND BarIndex() < Lastx;
//
// draw regression line...
Plot( IIf( drawit, y, Null ), "LinReg", color, style );
// ... and channel
Plot( IIf( drawit, y + width*multiplier , Null ), "LinReg UP", color, style );
Plot( IIf( drawit, y - width*multiplier , Null ), "LinReg DN", color, style );
_SECTION_END();
 

vijkris

Learner and Follower
How Your Words Impact Your Success
http://www.success.com/article/rohn-how-your-words-impact-your-success

If you have a limited vocabulary, you will also have a limited vision and a limited future.

Sometimes the subtle difference in our attitude, which can make a major difference in our future, can be as simple as the language we use. It’s the difference in even how you talk to yourself or others. It’s consciously making a decision to quit saying what you don't want and to start saying what you do want. It’s faith—believing in the best, hoping for the best and moving toward the best.

Instead of saying, "What if somebody doesn't respond?" start saying, "What if they do respond?" Instead of saying, "What if someone says no?" say, "What if they say yes?" Instead of saying, "What if they start and quit?" say, "What if they start and stay?" Instead of saying, "What if it doesn't work out?" say, "What if it does work out?"

When you start thinking and saying what you really want, then your mind automatically shifts and pulls you in that direction. And sometimes it can be that simple—just a little twist in vocabulary that illustrates your attitude and philosophy.
:clapping::clap:
 

vijkris

Learner and Follower
automatic support and resistance




Code:
//Filter = Status("lastbarinrange");
SetChartOptions( 0, chartShowDates | chartLogarithmic | chartWrapTitle );
//SetChartOptions(2,chartShowDates+chartWrapTitle);
Layer = Param("Layer", 0, -5, 5, 1) ;
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} " + EncodeColor( colorGreen ) + " Open %g," + EncodeColor( colorBlue ) + " Hi %g,  " + EncodeColor( colorRed ) + " Lo %g,  " + EncodeColor( colorBlue ) + " Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));

Plot( C, "Close",  colorTeal, styleNoTitle | styleCandle,0,0,0,Layer ); 
HiVolume = IIf(V > (2 * MA(V,10)), True, False); 
PlotShapes(shapeSmallCircle * HiVolume, IIf(C > O, colorBlack, colorWhite), 0, (O+C)/2, 0);
ToolTip = "Open = " + O + "\nHigh = " + H + "\nLow = " + L + "\nClose = " + C ;
HEMA = Prec(EMA(H,13),2);
LEMA = Prec(EMA(L,13),2);

Plot(HEMA,"high ema",colorLightOrange);
Plot(LEMA,"low ema",colorLightOrange);

Sensitivity = Param( "Sensitivity", 10, 0, 100, 1 );


DisRange = Param( "Plot 'far away' Lines Trigger", 3, 0, 10, 0.5 );

Color_SL =  ParamColor( "Support", colorGreen );

Color_RL =  ParamColor( "Resistance", colorRed );

_SECTION_END();



IV_periods = 50;
Middle_price = L + ( ( H - L ) / 2 );
IV = ( ( H / Middle_price ) - 1 ) * 100;
IV_AVG = MA( IV, IV_periods );
per1 = LastValue( Sensitivity * LastValue( 0.2 * IV_AVG ) );
per2 = LastValue( per1 * 3 );
x = Cum( 1 );
Tp1 = TroughBars( L, per1, 1 ) == 0;
Pp1 = PeakBars  ( H, per1, 1 ) == 0;
Tp2 = TroughBars( L, per2, 1 ) == 0;
Pp2 = PeakBars  ( H, per2, 1 ) == 0;
XT1 = LastValue( ValueWhen( Tp1, x, 1 ) );
XT2 = LastValue( ValueWhen( Tp1, x, 2 ) );
XT3 = LastValue( ValueWhen( Tp1, x, 3 ) );
XT4 = LastValue( ValueWhen( Tp1, x, 4 ) );
XT5 = LastValue( ValueWhen( Tp1, x, 5 ) );
XT6 = LastValue( ValueWhen( Tp2, x, 1 ) );
XT7 = LastValue( ValueWhen( Tp2, x, 2 ) );
XP1 = LastValue( ValueWhen( Pp1, x, 1 ) );
XP2 = LastValue( ValueWhen( Pp1, x, 2 ) );
XP3 = LastValue( ValueWhen( Pp1, x, 3 ) );
XP4 = LastValue( ValueWhen( Pp1, x, 4 ) );
XP5 = LastValue( ValueWhen( Pp1, x, 5 ) );
XP6 = LastValue( ValueWhen( Pp2, x, 1 ) );
XP7 = LastValue( ValueWhen( Pp2, x, 2 ) );
T1 = LastValue( ValueWhen( Tp1, L, 1 ) );
T2 = LastValue( ValueWhen( Tp1, L, 2 ) );
T3 = LastValue( ValueWhen( Tp1, L, 3 ) );
T4 = LastValue( ValueWhen( Tp1, L, 4 ) );
T5 = LastValue( ValueWhen( Tp1, L, 5 ) );
T6 = LastValue( ValueWhen( Tp2, L, 1 ) );
T7 = LastValue( ValueWhen( Tp2, L, 2 ) );
P1  = LastValue( ValueWhen( Pp1, H, 1 ) );
P2  = LastValue( ValueWhen( Pp1, H, 2 ) );
P3  = LastValue( ValueWhen( Pp1, H, 3 ) );
P4  = LastValue( ValueWhen( Pp1, H, 4 ) );
P5 = LastValue( ValueWhen( Pp1, H, 5 ) );
P6 = LastValue( ValueWhen( Pp2, H, 1 ) );
P7 = LastValue( ValueWhen( Pp2, H, 2 ) );
breakout_lasttrough_G1 = Cross( T1, C );
breakout_lasttrough_G2 = Cross( T6, C );
breakout_lastpeak_G1 =   Cross( C, P1 );
breakout_lastpeak_G2 =   Cross( C, P6 );
//bu_breakout = Cross( H, P1 )  OR  Cross( H, P6 );
LONG = (p1<H);// OR Cross(H,P6);
//be_breakout = Cross( T1, L )  OR  Cross( T6, L );
ShortT = (T1>L) ;//OR Cross(T6,L);
Cond1 = p1>p2 AND p1>p3 AND p1>p4 AND p1>p5 ;//AND p1>p6 AND p1>p7;
Cond2 = t1<t2 AND t1<t3 AND t1<t4 AND t1<t5 ;//AND t1<t6 AND t1<t7;

break_G1_val = IIf( breakout_lasttrough_G1, -1, IIf( breakout_lastpeak_G1, 1, 0 ) );
break_G2_val = IIf( breakout_lasttrough_G2, -1, IIf( breakout_lastpeak_G2, 1, 0 ) );
posR = LastValue( C ) + DisRange * LastValue( ATR( 10 ) );
nR = LastValue( C ) - DisRange * LastValue( ATR( 10 ) );
RT1 = T1<posR & T1>nR;
RT2 = T2<posR & T2>nR;
RT3 = T3<posR & T3>nR;
RT4 = T4<posR & T4>nR;
RT5 = T5<posR & T5>nR;
RP1 = P1<posR & P1>nR;
RP2 = P2<posR & P2>nR;
RP3 = P3<posR & P3>nR;
RP4 = P4<posR & P4>nR;
RP5 = P5<posR & P5>nR;
RT6 = T6<posR & T6>nR;
RT7 = T7<posR & T7>nR;
RP6 = P6<posR & P6>nR;
RP7 = P7<posR & P7>nR;
AnZ = T1 == 0 & T2 == 0 & T3 == 0 & T4 == 0 & T5 == 0 & T6 == 0 & T7 == 0 & P1 == 0 & P2 == 0 & P3 == 0 & P4 == 0 & P5 == 0 & P6 == 0 & P7 == 0;
LastBar = Cum( 1 ) == LastValue( Cum( 1 ) );

//NOTitle = ParamStyle("notitle",styleNoTitle);
/*******************************************************************************************/
Plot( IIf( x >= XT1 & RT1 &NOT T1 == 0, T1, -1e10 ), "T1", IIf( LastValue( C ) < T1, Color_RL, Color_SL ), 32 + 2048  );

Plot( IIf( x >= XT2 & RT2 &NOT T2 == 0, T2, -1e10 ), "T2", IIf( LastValue( C ) < T2, Color_RL, Color_SL ), 1 + 2048  );

Plot( IIf( x >= XT3 & RT3 &NOT T3 == 0, T3, -1e10 ), "T3", IIf( LastValue( C ) < T3, Color_RL, Color_SL ), 1 + 2048+styleNoTitle  );

Plot( IIf( x >= XT4 & RT4 &NOT T4 == 0, T4, -1e10 ), "T4", IIf( LastValue( C ) < T4, Color_RL, Color_SL ), 1 + 2048+styleNoTitle  );

Plot( IIf( x >= XT5 & RT5 &NOT T5 == 0, T5, -1e10 ), "T5", IIf( LastValue( C ) < T5, Color_RL, Color_SL ), 1 + 2048+styleNoTitle  );

Plot( IIf( x >= XP1 & RP1 &NOT P1 == 0, P1, -1e10 ), "P1", IIf( LastValue( C ) < P1, Color_RL, Color_SL ), 32 + 2048  );

Plot( IIf( x >= XP2 & RP2 &NOT P2 == 0, P2, -1e10 ), "P2", IIf( LastValue( C ) < P2, Color_RL, Color_SL ), 1 + 2048  );

Plot( IIf( x >= XP3 & RP3 &NOT P3 == 0, P3, -1e10 ), "P3", IIf( LastValue( C ) < P3, Color_RL, Color_SL ), 1 + 2048+styleNoTitle  );

Plot( IIf( x >= XP4 & RP4 &NOT P4 == 0, P4, -1e10 ), "P4", IIf( LastValue( C ) < P4, Color_RL, Color_SL ), 1 + 2048+styleNoTitle  );

Plot( IIf( x >= XP5 & RP5 &NOT P5 == 0, P5, -1e10 ), "P5", IIf( LastValue( C ) < P5, Color_RL, Color_SL ), 1 + 2048+styleNoTitle  );

Plot( IIf( x >= XT6 & RT6 &NOT T6 == 0, T6, -1e10 ), "T6", IIf( LastValue( C ) < T6, Color_RL, Color_SL ), 8 + 2048  );

Plot( IIf( x >= XT7 & RT7 &NOT T7 == 0, T7, -1e10 ), "T7", IIf( LastValue( C ) < T7, Color_RL, Color_SL ), 8 + 2048+styleNoTitle  );

Plot( IIf( x >= XP6 & RP6 &NOT P6 == 0, P6, -1e10 ), "P6", IIf( LastValue( C ) < P6, Color_RL, Color_SL ), 8 + 2048  );

Plot( IIf( x >= XP7 & RP7 &NOT P7 == 0, P7, -1e10 ), "P7", IIf( LastValue( C ) < P7, Color_RL, Color_SL ), 8 + 2048+styleNoTitle );
 

niftytaurus

Well-Known Member
Hi Vijkris
Thanks for those useful afl.
Its Plotting those lines & s & r only on latest data..ex..in 5 min chart..its plotting only for today data..can we use it on historical data also?
thanks again
 

vijkris

Learner and Follower
Hi Vijkris
Thanks for those useful afl.
Its Plotting those lines & s & r only on latest data..ex..in 5 min chart..its plotting only for today data..can we use it on historical data also?
thanks again
ya.. you can change the sensitivity.
in pure trending scrips sup/res lines, will not be formed, until a move opp to trend develops.
dashed line indicates nearest sup/res. strong sup/res is indicated by dotted line.
u can change to higher tf also for farther sup/res
 

vijkris

Learner and Follower
imp post by suri11200 in suri's trading diary.

Fear of Losing Money

It is an established fact that 7 out of 10 trades opened immediately go into loss.

Fear of losing money happens when a trader first initiates a position and immediately sees the trade go against them. At this moment, the traders will often second guess their decision. Intense fear of losing can cause the trader to immediately 'cut their losses' and exit the trade, at a small loss. These "small"losses, though individually small(i.e within risk mgmt, can quickly add up to a significant amount. Over time, such losses can cause the trader to lose their morale and confidence.


To overcome fear of losing, remind yourself that a surgeon spends more a lot of money to receive their qualifications. Treat losing in the market as a form of tuition fees, a necessary investment. Investment in education always pay the best return. To make sure I get the highest return from my 'tuition fees'.
Make sure to analyze each losing trade to find out what mistakes were made and that helps in strengthening trading.



Fear of Losing Profits


Another fear is the fear of losing profits on winning trades.

When a trader sees their position making a profit, the trader starts fearing that any second, the position will turn against them.

"Most people fear when they should hope and hope when they should fear."

Thus, they close out their winning trades, taking a small profit, believing that they can't go broke taking a profit.


Unfortunately, they CAN go broke taking small profits.

Unless the trader can achieve 100% accuracy in picking trades, they are bound to have a number of losing trades.

In order for traders to make money in the market, they need profits from those winning trades to be big, so as to cover for losing trades.


If a trader constantly takes small profits, it is unlikely that they will have a significant amount of surplus left after covering for these loses.


It has been said that: "It is not about whether you win or lose, it is about how much you win when you are right and lose when you are wrong that matters."


To overcome fear of losing profits, consider using this. Instead of focusing your thoughts on the possibility that the position can go against you, focus on the need to win big when you are right.

There are three main methods to overcome fear of losing:


•Changing one's perception of losing. To overcome the fear of losing money, treat any money lost as tuition fees.

In addition, do not treat unrealized profit as your money;
those are merely profits on paper.
One can't be afraid of losing money that do not belong to them yet.


Have clearly defined rules for cutting loss and taking profits. These should be based on empirical research or intensive back-testing.


•Use visualization techniques to take one's focus away from the possibility of losing. Visualise the current position becoming a big winner, a grand slam.


This does not mean one should pray and hope and visualise a losing position turning into a grand slam.

◦A good trader should always ensure that they know exactly when to cut loss.

As long as the protective stop loss is not reached, one should not let the fear of losing overwhelm you resulting in the closing of a position prematurely.

It helps to ask yourself two questions:

Q1 - What is the worst that can happen?


•The worst is that your stop loss is hit and you lose your pre-determined amount of capital on your position.


Q2 - What is the best that can happen?


•The best is that your profit targets are hit and you win your pre-deterimined amount of capital on your position


If you cannot accept the worst that can happen, you should not open the position.
If you can accept it, you should find courage in the fact that even if the worst happens, your world won't fall apart (which means there's nothing to fear).

You should then focus your energy on visualizing the best case scenario.
 

rjshem

Well-Known Member
One more important thing wanted to say dont keep on trying to fine tune ur system or jump systems to keep avoiding all sideways or catching a complete big moves.no system can avoid 100% sideways or catch 100% big moves.just stick to one system which can give u profit of morethan 5 to 10% orr more per month average with proper entry exit and mm rules.focus more on not missing any trades and compounding ur profits as to increase ur trade sizes and profits.compounding will give u amazing results if u implement it correctly.
 

vijkris

Learner and Follower
One more important thing wanted to say
dont keep on trying to fine tune ur system or jump systems to keep avoiding all sideways or catching a complete big moves.
no system can avoid 100% sideways or catch 100% big moves.
just stick to one system which can give u profit of morethan 5 to 10% or more per month average. with proper entry exit and mm rules.
focus more on not missing any trades and compounding ur profits as to increase ur trade sizes and profits.compounding will give u amazing results if u implement it correctly.
frankly speaking, last 2 weeks has been spent in fine tuning the system..:D
I m working on fixing and writing down strong entry/exit criteria,early identification of sideways and trends, as I still find myself entering impulsively.
 

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