Strategy making a definitive buy

[Likos]

This is by far my greatest weakness; knowing when to buy & knowing it won't get stuck. By that, I mean will it continue to go up throughout the day or just a short uptrend leading it to downtrend? This awful weakness of mines leads me to miss many good opportunities finds on occasions. Sometimes the volume-volatility can lie to me. For example... I had two choices I could have bought today: $ABIO & RWLK. One accelerated in volume than the other. Who's to say or can determine which will boom through buying hands or not?

 

[cherif]

let me share my thoughts with you and hopefully that will enhance your trading future endeavors.

first: the first 15-30 min are tricky, you can have volume, volatility and strength and you will pick the price direction and the very next candle will reverse direction and your whole day will go in vain.

here is a tip that may help you catch good moves: the squeeze

plot a squeeze indicator that will show u compression. establish ur resistance and support, if price action fires out of the squeeze and breaks out either Support or resistance then you are likely to catch a good move. i myself miss a lotta good moves because of frustration or because i focus on the wrong stock with the wrong move. let me know what do you think

 

[San]

@cherif, Thanks for your input, Can you share which squeeze indicator used...

 

[cherif]

@San

I used to to apply the ttm squeeze but it has its flaws and lags price movements tremendously.

I noticed that there is a script in this page called volatility study, it shows squeezes and the bands compressing the price.

Here is what i use myself: https://tos.mx/fOmNOe

this bb based. When the bandwidth reaches the bulge and start moving up together, the likelihood of the move to be big increases. When the bandwidth is lining up with the squeeze then, the price is in squeeze mode.

When it comes to the price direction: then u gonna have to detect whether strength, volume ans intensity are all lined up and the whole combo will give ur move. Easy to say, hard to detect. Thx

 

[San]

@cherif, This "https://tos.mx/fOmNOe"ts hard to detect..

 

[cherif]

https://onedrive.live.com/redir?resid=2FF733D1BA1E1E79%21404&authkey=%21ABOXXFyQg1iUqFk&page=View&wd=target%2803.%20Technical%20Analysis%2FVolatility.one%7Ceb171eac-37e6-47df-a1d0-7142a9089dcf%2FECI%20%28Expansion%20Contraction%20Indicator%5C%29%7C14b44954-d864-4c17-815b-8baa798a3e46%2F%29

Check this link. This is a squeeze indicator on price action charts. Probably u found the one i sent you very ambiguous.

 

[San]

@Cherif, Thanks You..

 

[San]

Hi Do you know which is the best custom indicator to identify or finding "higher volumes" indicator which identify volume of buy or sell indication.

 

[cherif]

Time based volume and u can compare it with intraday intensity index.

 

[San]

@cherif, Oopss.. Can you provide the script or link for those indicator...

 

[cherif]

https://1drv.ms/u/s!AnkeHrrRM_cvgxQTl1xckINYlKhZ

go to technical studies/volume and scroll down til u find them. If not, once i am in front of my laptop i will send you the links

 

[San]

@Cherif, Thanks .. i see so many volume indicator.. do u have anything specific and it back tested...

 

[cherif]

there is one called time based volume. simple to use. i am using it on daily basis.

there is one called better volume but i found a bit complicated with too many definitions and colors that can turn out not to be accurate or may lead you to the wrong direction of the trade.

btw, what your trading setup ?

 

[San]

@Cherif, I will try what u said. I used "Opening Range Breakout "/ EMA 10 and 20 and 100 Cross over/ MACD indicator.

Using this site i am learning slowly and really appreciate this site community , BenTen and team.

 

[San]

@Cherif, Can you confirm this is the one you are refereing "** Volume Time Based_BLT "