How to use the Tick and Price Action Indicator in concert with Value Area for NQ 5 minute
1) Identify the fibonacci extensions based on previous day value area
2) Activate developing VA for the current day
3) Apply the Tick and Price Action Indicator and follow the arrows and colours
4) Enter only if NQ is trading outside of the current day Value Area (see your...
Set out TICK - 5 minute candles, no wicks
Set out -200 and +200
Watch for where TICK candles close
If it closes below -200 there is a short bias (but not an enter signal)
If it closes above 200 there is a long bias (but not an enter signal)
Look at NQ. If the TICK alongside the NQ candle has closed below -200, then that NQ candle is Candle 1. Candle 2 must close...
1. Load the previous day's data in full. Add volume profile; apply right-sided placement so that it is easier to draw out the fibs based on previous day
2. Draw out the Fibonacci Retracement/Extensions. Your Numbers are 0, 1, x.236 and x.618. In a market trading higher than the Previous Day Value Area, set the Value Area High as 1.00 and Value Area Low as 0.00. In...
I have shown how to fade TICK extremes. Here, I show you how to trade when the TICK is not at extremes.
1) Ascertain where TICK is
2) Define the first 5 minute high and low (NY open high and low)
3) Await for TICK to open and close a whole body above 200, or below -200. This will determine your bias but is not in itself an entry signal! Wait for price action...
1) Apply the previous day's value area on your chart
2) Draw out the Fibonacci retracement/extension with x.236 and x.618 sequences
3) Look at your $TICK opening - if you have a +1000 open it's likely to be overbought in the early part, DO NOT SHORT until there is price action confirmation ie. the next candle moves below the low!
4) Enter at the next Fib point,...
0) This strategy is designed for the NQ 5 minute candles. The Value Area is defined as 70% of the previous day's volume profile with 24-tick-per-block sizing. The maximum number and size of entries will be defined by the Expert Advisor
1) The previous day VAH/VAL is defined by your orderflow suite
2) The Fibonacci extension is drawn, with VAL defined as 0.0% and...
BTC for Slav
Follow the green line - if it bounces off the green line, buy
If it bounces off the semicircles, this indicates price may go down and it may well follow the circles down. Wait for it to cross a semicircle before you resume going long