Disliked{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}Ignored
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
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To FlashPaul: Could you lend a bit of your brain when reading this indicator? ive been looking for a Volume indicator and this one looks rather promising. Thanks for sharing! I do have a question on how you interpret your go or no go signals. Is it when the volume bars go up above the yellow line? up above the blue line? Or is that solely to my discretion? if the yellow line is under the blue line with bars above both...