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Nova Volume Trading System

  • #41
  • Oct 30, 2024 6:30am Oct 30, 2024 6:30am
Quoting since80808
Hello and thanks for the sharing. Several questions please: {quote} There are 3 EMAs, which one slope is a signal? You (or the Author of Nova system) use classic 3 EMA method for HTF trend confirmation - it's lagging as all MAs but it's ok and usable. The question is: {quote} If you say (and I hope that) {quote} then it can be EA-converted and tested automatically. But there is no MT4/5-version and TV-version was publshed 16 hours ago only. I want to kindly ask how long have you back tested it? And, the general question, how long have you forward...
I posted the indicator yesterday on TV to share it here whilst I have the MT4/5 indicator coded and tested which I will share here as soon as it's ready.

The 3 EMA's are my personal choice but my previous posts explain how I use them if you have a look.

Default EMA is the 200 which is what the indicator will use to filter the trades but you can use any EMA you wish.

If you follow the entry rules you can backtest it, I use the replay feature on tradingview to test other instruments with it and it works well on the 1/5m chart which are my primary entry timeframes.

Its based on volume and so as soon as you see a sudden increase in volume you can know that the move is going to be in your favour most times.
You can lead a horse to water, but you can't make it drink
  • #42
  • Oct 30, 2024 6:30am Oct 30, 2024 6:30am
Quoting xkwisit2001
{quote} would like people to use it alongside their own current systems and get a better feel for what it is telling you... use it as a confluence to begin with and not a strategy. Hope this helps & makes sense bud
Thanks for that.....confluence is my thing....which is why i always look at new methods to see what i can add to my
bag of tricks and what I can replace.
I have noticed good entries from 5 and 2 minute charts
Its all just one persons opinion
  • #43
  • Oct 30, 2024 6:37am Oct 30, 2024 6:37am
Quoting axecap
{quote} Thanks for that.....confluence is my rging....which is why i always looka t new methods to see what i can add to my bag of tricks and what I can replace. I have noticed good entries from 5 and 2 minute charts
This is what I was doing for so long but for me I was getting frustrated with all these different indicators and systems as I found I tried to merge them together and just ended up with analysis paralysis.

In the end I sat down and thought, when will I know the move is actually here? - hmm it has to be with volume so I set out to only focus on volume. However I needed a bit more than just that so I added the signal line so I know when things will work out better for me.

What I would say is just look at past and current moves and just watch the indicator and see what information its giving you. On the 1 min chart it's so accurate that I have zero emotion and when I lose I know there will be a series of wins around the corner.

My aha moment was when I realised it will keep me out of ranging markets and that was where I lost most of the time.

So using the EMA, try to focus on being on the correct side of it when taking entries... I don't tend to counter trend trade as I get burnt.

If you do see volume increasing but the indicator background is white or black then you can sometimes enter in those areas but as mentioned before I like a swing to protect my entries.
You can lead a horse to water, but you can't make it drink
  • #44
  • Oct 30, 2024 6:38am Oct 30, 2024 6:38am
I will be back later with some trading examples from today. Always best to analyse the most recent trades
You can lead a horse to water, but you can't make it drink
  • #45
  • Oct 30, 2024 6:48am Oct 30, 2024 6:48am
Very interesting, looking forward to the MT4 version.
Regards, Baz
  • #46
  • Oct 30, 2024 6:53am Oct 30, 2024 6:53am
These are the most recent trades on the 1M chart for gold. You can go back and look yourselves for clarity.

You'll also see that some entries I will not use the full swing low and instead the top of the large impulse candles.

I usually like to see big volume and 1 red/green bar on histogram or 2 good volume histogram candles in a row in the direction of the trend when I am entering a position. With 1m charts you have to be quick and you can often get 1:2 but 1:1.5 will yield better results.

I am presenting my approach more mechanical but when I am trading I will do on the fly changes depending on the situation. W

With experience you will have that intuition of when to enter or when to break even etc...

This is just to aid you.

For some, on this chart you may not take the full profit each time but you can't deny that it picks out good signals

Attached Image (click to enlarge)
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You can lead a horse to water, but you can't make it drink
  • #47
  • Oct 30, 2024 6:54am Oct 30, 2024 6:54am
Quoting Bazzza
Very interesting, looking forward to the MT4 version. Regards, Baz
I am hoping to have it later today or tomorrow mate
You can lead a horse to water, but you can't make it drink
  • #48
  • Oct 30, 2024 7:04am Oct 30, 2024 7:04am
Well-done sir. Please what time frame is used?
  • #49
  • Oct 30, 2024 7:17am Oct 30, 2024 7:17am
Hello friends! I am interested in the strategy and I am joining the test. I am really looking forward to the indicator version for mt4
  • #50
  • Oct 30, 2024 7:21am Oct 30, 2024 7:21am
Quoting Lanzo
Well-done sir. Please what time frame is used?
I mainly use 1 and 5 minute for entries and then can use the higher timeframes for direction.
You can lead a horse to water, but you can't make it drink
  • #51
  • Oct 30, 2024 7:26am Oct 30, 2024 7:26am
Scalping NQ
Attached Image (click to enlarge)
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  • #52
  • Oct 30, 2024 7:37am Oct 30, 2024 7:37am
Quoting axecap
{quote} There is only 2 pages 2 read...Have a look
ok
  • #53
  • Oct 30, 2024 7:40am Oct 30, 2024 7:40am
Quoting xkwisit2001
{quote} I am hoping to have it later today or tomorrow mate
Great
  • #54
  • Oct 30, 2024 9:14am Oct 30, 2024 9:14am
Live Entry

When I see a Squeeze (Green Candles), I look for the obvious fake out, an area in the market that captured trapped traders. In this case it was bears that were trapped to the downside. I then use NOVA to time my entry with a bullish bias, and in this example I'm ignoring the background/ema bias because I already found it.

The other candle colors represent expansion and contractions. Basically, we want the Candles to remain a light color (light blue for buys).


All in one squeeze indicator with candle colors.

https://www.tradingview.com/script/1...-Pro-Overlays/
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  • #55
  • Oct 30, 2024 9:27am Oct 30, 2024 9:27am
Quoting MachineLearn
Live Entry When I see a Squeeze (Green Candles), I look for the obvious fake out, an area in the market that captured trapped traders. In this case it was bears that were trapped to the downside. I then use NOVA to time my entry with a bullish bias, and in this example I'm ignoring the background/ema bias because I already found it. The other candle colors represent expansion and contractions. Basically, we want the Candles to remain a light color (light blue for buys). All in one squeeze indicator with candle colors. https://www.tradingview.com/script/1...-Pro-Overlays/...
Done (M5)
Attached Image (click to enlarge)
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  • #56
  • Oct 30, 2024 9:35am Oct 30, 2024 9:35am
Nice logic!
Quoting MachineLearn
squeeze indicator
Have you an analog for mt4?
Just an opinion. Based on research
  • #57
  • Oct 30, 2024 10:15am Oct 30, 2024 10:15am
Quoting xkwisit2001
{quote} I am hoping to have it later today or tomorrow mate
Id like to test this, and assist in a way, can we try getting a ninja trader version out for it?
  • #58
  • Oct 30, 2024 10:17am Oct 30, 2024 10:17am
Quoting since80808
Nice logic! {quote} Have you an analog for mt4?
Thanks.

I use tradingview for indicators and broker. Unfortunately, I don't use MT at all.
  • #59
  • Oct 30, 2024 11:17am Oct 30, 2024 11:17am
Quoting xkwisit2001
{quote} I am hoping to have it later today or tomorrow mate
@xkwisit2001

We know there is no real volume in FX.
So, is your indicator going to use just tick broker's volume for FX?
  • #60
  • Oct 30, 2024 12:22pm Oct 30, 2024 12:22pm
Quoting Merka
{quote} @xkwisit2001 We know there is no real volume in FX. So, is your indicator going to use just tick broker's volume for FX?
Good point—there’s no centralised volume in FX, so of course we are working with tick volume, which reflects price movement frequency.

While it’s not the full picture, I’ve found it reliable for gauging momentum shifts, especially with broker-specific data.

The Indicator does use tick volume, yes, but it’s not just any volume reading. It's set up to identify momentum patterns with higher accuracy by filtering out noise and focusing on volume changes that align with trend strength.

Results have been solid so far, and I think you’d be surprised at how well this approach holds up even with FX tick volume.
You can lead a horse to water, but you can't make it drink
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