Since those rolling 0.5 to 1.0 hr VWAPs seemed to give decent price bias today, I thought I’d make a paintbar out of it. Now, I can get all those ugly dotted lines off my screen!
… maybe it will be useful in the long run, and maybe not… I’ve got too many things on my screen trying to tell me the trend, etc. Now it’s time to simplify some, I think. Over the weekend I’ll be taking a hard look at what is helping me, and what is just baggage.
[Edit: sorry, on the youtube video it's kinda hard to differentiate the light/dark colors... but I think you can mostly follow along anyway. Here are the last 3 days in compressed 3382 bars, so you can get a feel for how they look with one of the color methods:
You can see that it's not perfect, but it's reasonable in most cases... and I do like how the blue areas tend to crop up when there's choppy action.]
December 21st, 2007 at 3:44 am
I think I will color code my bars off my indicators too. Good idea. Also need to work on audible alerts.
December 21st, 2007 at 7:41 am
Richard,
I really appreciate your videos, they give a lot of insight and help to get me thinking outside the box.
Happy Holidays,
Marc F.
December 21st, 2007 at 8:53 am
Richard, great work, you rock.
Merry Christmas
December 21st, 2007 at 11:52 am
what do u use to make these videos?
December 21st, 2007 at 1:46 pm
HPT, I could not live without audible alerts. I can get up and walk around and do other things, and my computer will tell me when something interesting happens.
Thanks, Marc and Glen.
MWF, I use camstudio. It’s not nearly as nice as camtasia, but it’s free and works fine for me. http://camstudio.org/
December 22nd, 2007 at 10:27 am
do u know of anything mac compatible?
December 22nd, 2007 at 11:00 am
i’m not sure if i’m using the same exact thing as your VWAP…however, remember b4 when u were talking about the TSI…if u double smooth the TSI with the same period as the VWAP, the slope divergence will also indicate flat prices
if the VWAP slopes up/down, and the TSI (double smoothed to same period) moves in the opposite direction, stand aside
i have some stuff that identifies trend, and works well, but i was looking for a way to stay out of the chop…the combination of the two seems to work
December 22nd, 2007 at 11:17 am
I’ve used Copernicus on my macs, but I don’t do screen record on my macs that often. If I recall, I had to record audio with another program, and then put video and audio together via iMovie. There is a list of free/cheap programs at http://www.pure-mac.com/screen.html ScreenRecord looks decent, for $20.
On the VWAP thing, what do you consider to be the period of the VWAP? Usually VWAP is calculated continually from some start time (most often the beginning of the session).
December 22nd, 2007 at 11:32 am
richard: i’m not sure how u use it, so it may not apply…i found the following link at trader’s tips, and it explained how to derive it using investor rt…it may change the indicator with the options explaned here, but u can specify the period as u would a moving average
http://www.traders.com/documentation/feedbk_docs/archive/052001/TradersTips/TradersTips.html
thanks for the links…i tried to use imovie to do it, and let’s just say, i’m still trying
December 22nd, 2007 at 11:34 am
http://www.traders.com/documentation/feedbk_docs/archive/052001/TradersTips/TradersTips.html#investor2
this is the actual link, but the other one has all the options for different providers
December 22nd, 2007 at 11:41 am
Oh, I see… you are talking about a volume-weighted average of the last N bars. Makes sense, I should have figured that out on my own. That’s just not how I’m used to thinking about VWAP. I’ll look into it.