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Nova Volume Trading System

Quoting Goran56
{quote} Do you also wait for some new histogram bars showing up in the other direction of the trend so it forms a bit of a bigger retracement? Because In terms of entering on the 3rd candle open after like a different coloured histogram there would've been more entry's. I put some yellow circles around them in the indicator so it's better visible what I mean. What is the reason you don't take these trade or is this just pure expertise? {image}
It's more down to exposure in the market. There are more entries but I am someone that prefers 1 in 1 out. You could use the other signals to stack entries but if you risk 1% and just entered 5 signals that have yet to hit target then you could be 5% down from just 1 single candle.

You can take any signal that fits your criteria... For me I prefer it to be after a swing low and then there's a build up in volume that follows which is why I'd then enter after the 2nd histogram bar closes and 3rd one opens. You'll often find that entries on the 3rd bar open tend to move the most after a swing low allowing you to get a 2:1 much faster.

If you risk 1% you could actually lower risk and do say 0.25% and be able to end up with an overall risk of 1% across 4 trades... It all depends on risk tolerance and what keeps the mind at peace.
You can lead a horse to water, but you can't make it drink
Quoting steph69416
I had a 1 to 3 today. 2nd day of using. {image}
Hello, how effective is the MTFI indicator you have got on your screen. Looks like to have something telling the sentiments on the higher time frame. Thanks
Quoting miron7
{quote} Hello, how effective is the MTFI indicator you have got on your screen. Looks like to have something telling the sentiments on the higher time frame. Thanks
Its MTFTI free on trading view. Not sentiment driven but crossover on selected moving averages
its all just one persons opinion....
Quoting axecap
{quote} Its MTFTI free on trading view. Not sentiment driven but crossover on selected moving averages
Yes it is free on tradingview. Thanks for pointing out it is EMA crossover based.

Have you used before?
  • Post #885
  • Quote
  • Edited 12:43pm Jan 13, 2025 12:18pm | Edited 12:43pm
3 wins and 1 loss today. I saw gold was pretty extended on the 4 hour and it was retracing. I marked the 50% level and watched for sells all morning. A higher risk trading day but it worked. Also something I am going to watch since there is a correlation between AUD and Gold I traded a 1 min strategy about a year ago AUDUSD with some success between 9:40am and 10:10Am eastern time. Its something I am going to work into my trading plan. It looked like it would have helped staying
out of the market the last 3 days during that time.
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Quoting steph69416
3 wins and 1 loss today. I saw gold was pretty extended on the 4 hour and it was retracing. I marked the 50% level and watched for sells all morning. A higher risk trading day but it worked. Also something I am going to watch since there is a correlation between AUD and Gold I traded a 1 min strategy about a year ago AUDUSD with some success between 9:40am and 10:10Am eastern time. Its something I am going to work into my trading plan. It looked like it would have helped staying out of the market the last 3 days during that time. {image}
Very good performance, If you traded 1 time per day and hit 3 out of 4 and didn't trade on fridays that's a very good win rate... 75%

You could have gained a lot more with stops above the highs on the first 3 and it's possible the 3rd wouldn't have been a loss.

I say that as a I know a lot of people trade props and with a 50-300k account that would be amazing work for those that do.

Keep at it, you'll soon gain more confidence with it.
You can lead a horse to water, but you can't make it drink
Quoting miron7
{quote} Yes it is free on tradingview. Thanks for pointing out it is EMA crossover based. Have you used before?
Yes i use Ma's alll the time . its not just ema you can set a number of averages. You can read up what it does on trading view.
it just signals crossovers of slow and fast.
its all just one persons opinion....
For those trading Nova, if there is a massive bar on the histogram then do not take the trade as more than likely it's taking out liquidity which means it'll take the opposing side.

Nova entries are always best when volume builds up bar by bar so.

If anyone is confused, I can show some examples but it's pretty easy to spot especially on gold.
You can lead a horse to water, but you can't make it drink
Right now I am more comfortable with taking entries off the 50ema and stops at the 200ema but yes, I actually enjoyed trading today. I appreciate you sharing your thoughts!
Quoting steph69416
Right now I am more comfortable with taking entries off the 50ema and stops at the 200ema but yes, I actually enjoyed trading today. I appreciate you sharing your thoughts!
As long as it works for you then that's what matters the most.

Keep it up
You can lead a horse to water, but you can't make it drink
Quoting xkwisit2001
For those trading Nova, if there is a massive bar on the histogram then do not take the trade as more than likely it's taking out liquidity which means it'll take the opposing side. Nova entries are always best when volume builds up bar by bar so. If anyone is confused, I can show some examples but it's pretty easy to spot especially on gold.
Please share example. Thank you
Quoting axecap
{quote} Yes i use Ma's alll the time . its not just ema you can set a number of averages. You can read up what it does on trading view. it just signals crossovers of slow and fast.
Thank you
Hello, is there a chance to get this indicator (Nova Volume Indicator) for MetaTrader 5 or possibly the source code from TradingView? The strategy looks very interesting, and I would like to adapt it to my trading. Thank you for your dedication and the effort you put into this.
Hi @xkwisit2001,
Hope you're doing well! First off, I want to thank you for this incredibly useful indicator—I'm really enjoying using it. I just have a quick question for you. How did you normalize the volume data?
  • Post #895
  • Quote
  • Jan 20, 3:43pm (27 hr ago) Jan 20, 3:43pm (27 hr ago)
Thanks for sharing the strat, seems to work great. Like yourself i have been battling for years, but finally feel like i'm nearing success!

Noticed you're based out of Birmingham, I am also. Where abouts if you dont mind me asking?
  • Post #896
  • Quote
  • Last Post: Jan 21, 11:30am (7 hr ago) Jan 21, 11:30am (7 hr ago)
Hi, would like to share some observation results with you, hope it helps. When you enter a trade on LTF and then have signal on HTF or vice versa just hold TP till HTF's take profit while entering with LTF. Here is an example.
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