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Direct MessagesDate/Time: Sat, 29 Jun 2024 19:29:16 +0000
[User Discussion] - ABSORTION within Numbers Bars
View Count: 3988
| [2020-06-06 03:44:08] |
| Dietmar - Posts: 5 |
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Without being able to do ACSIL studies myself I am seeeking to find an easy possibility to highligt absorption within numbers bars. What i mean is to highlight TOPs (or BOTTOMS ) OF A BAR WHERE "RELEVANT" VOLUME WAS TRADED AT THE ASK OF THE PRICE WITHOUT FURTHER PRICE-MOVE UPWARDS (and vice versa) Example: Price gets up from 1300 to 1303 . At 1303 all the offers (lets say more than 200 contracts ) traded at 1303 are traded without lifting the offer price any more. The Numbers bars would show for example 0 x 200 ( Bid x Ask) an price would not move upwards. Thank you ! |
| [2020-06-06 09:43:28] |
| binaryduke - Posts: 365 |
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You can construct something very basic using the SC alert formula syntax (read up on the VAP formula) and plug it into Color Bar on Alert Condition. Commerically, you could look at this: https://www.emojitrading.com/product/absorption-pro/ which will highlight what you are describing as well as other absorption events combined with advanced filtering and ongoing tracking of these levels. |
| [2020-06-07 13:34:36] |
| Dietmar - Posts: 5 |
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First- thank you! I read about Volume at price- Alerts. Ok - it could show those cases, when a lot more contracts are traded at the bis (or the aks). Or imbalances (as shown wihtin documentation). But ist there an easy way to see when in this case the price does not move any more- especially at the HIGH or low of a price? Emoji looks good - but al lot more than 100$/month??? I want to change trader and software (to Sierrrachart) because I thougt, I could do things like Absorption without 3rd party-software? Any idea? I know that this would mean a bit of learning for me bevore having the result.... Thank you! |
| [2020-06-07 13:41:53] |
| Ackin - Posts: 1865 |
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I want to change trader and software (to Sierrrachart) because I thougt, I could do things like Absorption without 3rd party-software?
Not with the help of Sierra tools in the basic equipment. You can create it yourself. ACSIL (you can't do that via spreadsheet)Emoji looks good - but al lot more than 100$/month???
In this respect, the above amount for Emoji is very small. You can try searching on youtube or elsewhere, but for similar things, the link above is the best you can get.
Date Time Of Last Edit: 2020-06-07 13:43:00
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| [2020-06-07 14:12:25] |
| binaryduke - Posts: 365 |
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As the developer of the emoji tools and an order flow educator, some observations: 1. Ackin - thank you for your kind words. This means a lot coming from you as a very good and prolific ACSIL developer that supports the user community. 2. Dietmar... a. if you can read footprint raw data, it's easy to see absorption. Put delta on your footprint. If there is big delta and price is not moving above (or below) it depending where you are looking, there is absorption. b. if you want to get alerts for this (because it's hard to read or you want to be away from your machine) the Sierra Chart alert formula syntax is powerful enough to build the conditions that take volume at price and price into account. You have to think in terms of multiple conditions that represent what you are looking for c. knowledge and/or products that have value, have a value. If you don't know how to do something or can benefit from increased productivity/profitability, then it is right to pay for this value received and it is also right for those that create this value to benefit from the value being derived by others. Whether this is $1/$10/$100/$1000 per month is arbitrary. In the context of trading, if a tool or knowledge can generate 2+ ES points per month it is a no brainer to pay $100/month for it. It is just another business decision in the business of trading. If you have an issue with paying for value, don't be surprised if those that have knowledge that you seek don't provide it for free. Date Time Of Last Edit: 2020-06-07 14:13:50
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| [2020-06-07 15:11:22] |
| Dietmar - Posts: 5 |
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1) Thanks for the help. 2) EMOJI looks really very good. I also liked the webinars, emoji did to explain orderflow. It was my first step into this area. 3) I DONT THINK emoji is TOO EXPENSIVE. For me its the problem (as a beginning trader) to see that it is so easy to lose money. So I want to papertrade for a while (and need Software, datafeed, maybe emoji, money to lose ...). BUT I LIKE THE WORK YOU DID (as I saw in your videos ) very much . I saw hat there is a lot more "Alerts" or "indicators" within emoji orderflow suite that can help a lot- since I am an optical (learning) typus of person- I also like to see alerts on the screen in the "fast " environment of highly traded futures. ONCE AGAIN- THANK YOU VERY MUCH TO HELP ME ALTHOUGH YOU ARE SELLING A REAL GOOD PRODUCT- that offers a lot more than comparable 3rd party products. I will try (if you allow) emoji orderflow suite (trail version) - maybe this helps to decide... Greetings Dietmar |
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