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Direct MessagesDate/Time: Mon, 29 Apr 2024 18:04:53 +0000
Orderflowanalytics-style reversal bars.
View Count: 30962
| [2015-09-16 04:17:21] |
| NumbersBars - Posts: 141 |
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Hi Zdislav, I was testing OFA Bars. May I know what is the base chart I need to load before applying OFA Bar? I was comparing chart posted by DB on his youtube videos, there are some difference, so just wondering if I am using the indicator correctly. |
| [2015-09-16 04:54:55] |
| Zdislav - Posts: 73 |
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The base chart has to be 1 trade per bar with high quality data. I use Sierra Chart datafeed and it works well. The chart is not so different (if at all). I tested it on CL, GC, and ES and it looked the same.
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| [2015-09-16 06:36:51] |
| NumbersBars - Posts: 141 |
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Thanks Zdislav. Base chart was the problem. I was using range chart (1 tick), that's why it wasn't right. Great work, and thanks for sharing. |
| [2015-09-16 10:22:35] |
| Zdislav - Posts: 73 |
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OK. Thank you. The credit goes to norvik and other guys as well. For OFA bars I used his code and just altered some conditions... Just bear in mind, that cluster nad momentum studies do not work properly for current bar. I am working on it but progress is very slow. |
| [2015-09-24 08:49:17] |
| User615056 - Posts: 12 |
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Hi Zdislav. Any updates as of yet. Love the ofa bars :) Take a look at the volume paint bar study. I added it to the ofa bars. Then turned off some its functions so it only shows the volume cluster and mean average volume. It really works well. I am no programmer so i a useless in helping you with code. It might give you an idea if you can view the code for the volume paint bar study. I really like the momentum studies. Not sure how the exhaustion study works yet. Screen shot below. http://www.sierrachart.com/image.php?l=1443084465195.png |
| [2015-09-24 10:30:52] |
| Zdislav - Posts: 73 |
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Thanks for your interest. I am not able to get to it these days because of work. I am no programmer as well :-) I hope I will get to it soon. I am not sure what you mean by "volume paint bar study". Can you explain? Momentum study and volume clusters study "works" in terms of closed bars. The current bar issue remains. I suspect the code somehow missmatches indexes of a bar in study and underlying graph, so it switches direction in which it should analyze the volume and then draw momentum mark and/or cluster. Exhaustion study does not work because I do not know the mapping pattern. Right now it shoud mark exhaustion at low or high of a bar if there is weakness in direction and strength in opposite side (strong BID and weak ASK at high and vice versa) which paints quite often... It just does not work and I do not use it, I do not need it for trading. Clusters, momentum, Numbers bars, VbP and VWAP are only things I use. However, I found a slight improvement in reading volume. I draw OFA bars as "candle price volume bars". It helps to identify strong transitions... just try. |
| [2015-09-24 21:11:28] |
| User615056 - Posts: 12 |
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Hi. I think your work is fantastic. Lets get the momentum study perfect :) Seems to be good within the current bar. But i am no expert on the underlying mechanics of it. It certainly helps me when big buyers or sellers are hitting the tape. Thank you. The volume paint bar study is a study that you can add to your chart. These bars show you where 70 percent of the volume is. Its a sierra study. The kicker and the cool thing is it shows you the moving cluster within the bar as volume it coming in. So the yellow squares in the chart i posted, move up or down within the bar as volume is coming in. The green square is the mean volume of that bar. Within subgraphs set barhigh and barlow to ignore. This will isolate the volume cluster :) OMG love the candle price volume bars with ofa bars. Looks great with the cluster from volume paint bar study too. Date Time Of Last Edit: 2015-09-24 21:17:08
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| [2015-09-24 23:07:19] |
| Zdislav - Posts: 73 |
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Happy to hear it is useful to somebody. Try to look at post #37 in this thread if you want. It may help you understand the logic behind momentum study. I guess you mean "Volume distribution paint bar study". I looked at it. This study works only if the cluster size is set to 1. That means it shows POC of the bar. But the purpose of cluster analysis is to find the largest concentration of volume in a given bar which doesn't necessarily mean it has to be the POC (and often it is not). Any larger setting only draws cluster evenly distributed around POC (and if the POC is close to high or low it often draws the cluster in a void. Try to draw the study under Numbers bars study and you will see. So I need to stay with my cluster analysis. |
| [2015-09-25 03:37:02] |
| User615056 - Posts: 12 |
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Well you no more than me:) Lets get the cluster study perfected then!haha. sure wish i knew how to code! i was confusing volume cluster study with poc. Thanks for checking in.I added your cluster study to ofa. I did not think it worked. Could you tell me the difference between the yellow and orange squares? Thanks. I have watched lots ofa videos so i am not sure what your colors represent. thanks...
Date Time Of Last Edit: 2015-09-25 03:50:46
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| [2015-09-25 03:57:15] |
| User615056 - Posts: 12 |
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Never mind i see the description above :)
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| [2015-09-25 07:58:39] |
| Zdislav - Posts: 73 |
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In last videos DB uses just one-tick cluster, so it may be POC. "Gold-ish" color represents the highest concentration of volume (BID+ASK), which is a cluster of set size (3 ticks works well) in a given bar. Point of control - orange dash - represents only one price level with the most volume. Test: 1) Where is concentration of volume in this bar? 2) Where is POC? 2) Is this bar bullish or bearish? 3) If you would like to enter a trade (in either direction), at which price level would you set your order? 1007: 0|2 1006: 99|50 1005: 0|40 1004: 0|5 1003: 20|2 1002: 50|20 1001: 50|10 1000: 50|0 |
| [2015-09-29 00:13:56] |
| User615056 - Posts: 12 |
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Good Test. I dislike tests. Maybe your trying to trick me :) The only one i am positive on is number 2 and 3. Answers. 1. 1006 to 1005?? Not sure how to answer this one. 2. 1006 3. Bearish because when i compare diagonally bid volume has a higher divisible factor. 4. 1004. Because its a low volume node. Its an educated guess. uggg... i think i got two... |
| [2015-09-29 05:37:56] |
| Zdislav - Posts: 73 |
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The test was not meant to aim only you :-) Just to get a general thought and start up the brain little bit... Well... my interpretation can be something like this: 1) Depends on whether you consider cluster of one, two or three (or more) consecutive price levels. I usually consider 3 levels, so the largest volume (when you total volume of 3 levels) is - and the cluster - 1000-1002. Your answer (1055-1006) is correct in case you consider only two levels. 2) Correct :-) 3) This was the tricky one. You actually cannot tell unless you know where the bar opens and closes. From the information given we do not know how the bar was built. From the top to bottom or vice versa? Did it open somewhere in the middle, then went up or down and then reversed? All cases will give you opposit conclusion. 4) Correct... more or less. Let's say the bar is bullish and the trend is up. So I would like to enter a long trade. There are actually two distributions. If I want to be sure I get fill (or the higher probability) I would enter at the lower edge of higher distribution - 1005 - if the market trades above. And respectively for short trade (entry at 1003) in a downtrend conditions. But that all depends on actual dynamics of the market... ... as you can see the interpretation can vary and it is very difficult to give one straight answer to everything. What would work for one does not necessarily mean it must work for anyone. I just focus on getting the basic logic under my skin and I am a winner! :-) |
| [2015-09-29 18:40:05] |
| User615056 - Posts: 12 |
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Actually i dont feel so bad. For number 3 i was thinking the same exact thing as you described. I said i dont know how it opened but forced myself to pick a direction and give an answer. I like how you illustrated number 4. Makes perfect sense to me. I was wondering for the number bars study do you use the same thresholds as the bullish bearish momentum study for coloring your text? Thanks. Appreciate all your help. |
| [2015-09-29 19:07:24] |
| Zdislav - Posts: 73 |
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Yes, exactly the same. So I can see actual BID/ASK prints as they compare in real time... try comparing tresholds setting 38,138,162.
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| [2015-09-30 11:55:17] |
| Outlander - Posts: 91 |
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Would it be possible to get the OFA bar as DLL? Regards Outlander |
| [2015-10-01 03:24:56] |
| eagle - Posts: 92 |
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Should the OFA Bar study honor the "New Bar At Session Start" Main Chart Setting? Currently it's not.
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| [2015-10-05 06:20:23] |
| Zdislav - Posts: 73 |
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Outlander: It is already attached in some previous post (#68). eagle: Well, you are right. It does not. To add this feature would mean that the first bar would be created "outside standard logic". I look at tape reading (order flow) like at CONSTANTLY CONTINUOUS flow of orders. Start and end of a trading session does not affect this, only increase, resp. decrease, in volatility and liquidity. In this case (custom bar chart) any "time based" splitting of chart bars does not make any sense in my opinion and according to OFA logic as I interpret it for myself. Correct me if I'm wrong. |
| [2015-11-26 10:26:05] |
| User15378 - Posts: 45 |
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Hi guys! Just came across this study and have been looking for a OFA type for sierra chart for a while now, has there been any updates or improvements to this file? I put it on and it works but sometimes momentum does not because of CPU usage. has anyone made a new version? thanks so much! Regards Nic Labuschagne |
| [2016-03-21 19:43:31] |
| pismo10 - Posts: 158 |
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Great stuff..
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| [2016-03-21 19:49:26] |
| pismo10 - Posts: 158 |
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Any new revelations on how to best apply these?
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| [2016-03-22 00:30:30] |
| User785574 - Posts: 3 |
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I have been using them for months now. I just use the ofa bars with the bullish and bearish momentum indicator. The indicator works reasonably well. Sometimes i get an cpu exception error with the indicator. For some reason the indicator acts rascally with the gold chart. Works beautiful with es and oil and e6. The OFA bars are flawless. I wish i could add more but i am user and not the developer. Cant trade without them now.... yikes! It would be nice if sierra could add the OFA bars to its chart types. I see other platforms are offering it. Forgot the VWAP study is great too! |
| [2016-03-23 10:50:29] |
| User503938 - Posts: 3 |
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Hi Zdislav, Thank you for your excellent work. I need only show bear / bull cluster of more than 80 markets in the NQ - now me your code displays absorbed any bid/ask, even with volume 25 Can I set it somewhere? Thank you very much. |
| [2016-03-23 13:26:42] |
| Zdislav - Posts: 73 |
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Hi. This would work only for 1-tick clusters, if you set Volume threshold to the desired minimum value. For wider clusters this is not possible in version available here for download. I cannot promise I will update this feature, but I will at least look at it. Good to see that there is some interest... Z. Date Time Of Last Edit: 2016-03-23 13:30:43
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| [2016-03-23 13:36:23] |
| User503938 - Posts: 3 |
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Hi Zdislav, Thank you for answer. This means that this version looks for only one cluster cross? I am interested in the market to absorb larger (around 80) amount of bid/as and thus indicates a possible reversal of the trend - ie. exhaustion. My idea is: 6 | 82 17 | 95 10 | 30 and this would indicate, for example, absorption ask. Thank you very much for your time. |
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