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VolumEval Beta-Testing Opportunity!
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Posted 12/23/2018 9:08 AM (#9171)
Subject: VolumEval Beta-Testing Opportunity!


Posts: 3888
USA: GA, Lawrenceville
Hi, everyone!

It's been a while since I've posted much on the forum ... lots of other things have intervened. However, I have a *lot* of stuff planned for 2019 ... many tools of various types that I've been working on (some for years), so stay tuned!

In the immediate future, there's a project that some of you might be interested in "beta-testing", as I finalize the development and possibly apply limited tweaks to before release. Beta-testers get the opportunity to learn about how the routine works, in more detail than the normal end-user would ... and can offer suggestions for improvements which might be folded in for the final release. Also, Beta-testers get the product at a discounted price! If you're interested in participating, please email me (JimDean at Tradetight dot org) and I'll send you more info.

"VolumEval" is the routine that I'm working on right now, and expect to have finished in a few days. If you're familiar with MTV (which evaluates trend and volatility using Price data, for filtering or scanning), you'll find this new routine to be a perfect companion. VolumEval studies VOLUME in a manner somewhat similar to how MTV studies Price. The purpose for VolumEval is to identify "acceptable zones" (ie a series of sequential bars) during which the Volume seems conducive to active trades. That is, just as MTV identifies attractive Price Trend/Volatility-condition zones, VolumEval identifies attractive Volume-condition zones.

In the past there have been many "rules of thumb" suggested for "volume patterns" that presumably can augment the likelihood of trades being successful. Many years ago, I tested most of these and found them to have questionable reliability, so I pretty much dropped that consideration from my toolkit. HOWEVER, recently I've found a new way to evaluate Volume that seems much more reliable/repeatable, as a profitable qualifier for trading signals (entry &/or exit).

The simplest explanation is that it uses a process of extreme-V-spike "capping", which feeds one of eight optional Cumulative-Volume calculations (one is OBV), which in turn is evaluated versus two MA's for Stack & Slope "voting" indications, to identify where *meaningful increases* in volume seem to indicate the beginning of a price-move ... and where *meaningful decreases* in volume might indicate a good time to exit. Together, these rules define an "Active Trading Zone" by which potential Entries & Exits can be vetted.

There's a lot more to this ... Beta testers will get detailed explanations. If you're interested enough to pay in advance for this and do some testing, you'll get $100 off the release pricing. Email me ASAP if you'd like to participate ... this is happening right now.

And ... Merry Christmas to all of you! (or Happy Hanukkah or Happy Holidays, whichever fits you best ;~)

PS: after this, there are three more new things that you'll have the opportunity to beta-test, as well as an update to MTV ... hopefully all within the first half of 2019. Wheee!
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