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Nova Volume Trading System

  • #301
  • Nov 12, 2024 10:06am Nov 12, 2024 10:06am
Quoting cuchuflito
{quote} I am not making any publicity for Ic Markets, but it is the best broker on a raw account for spread, which is almost 0. I have a "decent raw spread account" with Peperstone, still I get often stopped out too soon or the entry is sluggish because of the spread. Then I have 2 other non- raw accounts, with "low spread" with 2 other "reputable brokers", the spread destroys any system on M1 charts. M1 is great for me but only with Ic Markets, there are probably other brokers with almost 0 spread out there, but Ic Markets also has a big client...
This!

Gold is a breeze but also FX pairs are amazing with zero spread. Yes you pay a commission but it's so much better this way.

Razor sharp entries and none of that weird manipulation the spread adjusts to not open your positions.

Nothing worse getting the perfect entry and the spread doesn't allow you to get in.
You can lead a horse to water, but you can't make it drink
  • #302
  • Nov 12, 2024 10:11am Nov 12, 2024 10:11am
Hi, just wanted to say thanks for sharing your system.

Been trading it for 2 weeks while also keeping market structure in my mind.
  • #303
  • Nov 12, 2024 10:21am Nov 12, 2024 10:21am
Quoting LazyDog
Hi, just wanted to say thanks for sharing your system. Been trading it for 2 weeks while also keeping market structure in my mind.
Great! how have you been doing with it?

Everyone don't be afraid to show your trades because I mainly use Gold so it would be great to see everyone elses entries/exits.

It will help others.
You can lead a horse to water, but you can't make it drink
  • #304
  • Nov 12, 2024 10:44am Nov 12, 2024 10:44am
Quoting xkwisit2001
{quote} Great! how have you been doing with it? Everyone don't be afraid to show your trades because I mainly use Gold so it would be great to see everyone elses entries/exits. It will help others.
I quite enjoyed using this, as it provided just the kind of confirmation that I was looking for when entering a trade. I found there were too many entry points on the 1 minute chart and I was not comfortable with that high frequency of trading. 5 minute seems to be the sweet spot for me.
These are the trades that I took on USDJPY today.
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  • #305
  • Nov 12, 2024 11:02am Nov 12, 2024 11:02am
Quoting LazyDog
{quote} I quite enjoyed using this, as it provided just the kind of confirmation that I was looking for when entering a trade. I found there were too many entry points on the 1 minute chart and I was not comfortable with that high frequency of trading. 5 minute seems to be the sweet spot for me. These are the trades that I took on USDJPY today. {image}
Well looking at those trades you certainly grasped the system. When following the trend and a loss occurs it's time to change your outlook as it could be about to reverse.

As long as you follow structure you will be fine. With the waves you'll find there is usually 3 decent impulse moves and then it will start to range before either continuing or reversing.

Just check a higher tf to see what the trend is and follow structure on the lower tf following the htf structure and you'll be sweet.

Also, you'll see repeatedly how the trend starts to form (when the emas flip/twist) so that first pullback after the flip is usually the best entry setup.
You can lead a horse to water, but you can't make it drink
  • #306
  • Nov 12, 2024 11:21am Nov 12, 2024 11:21am
Quoting xkwisit2001
{quote} Well looking at those trades you certainly grasped the system. When following the trend and a loss occurs it's time to change your outlook as it could be about to reverse. As long as you follow structure you will be fine. With the waves you'll find there is usually 3 decent impulse moves and then it will start to range before either continuing or reversing. Just check a higher tf to see what the trend is and follow structure on the lower tf following the htf structure and you'll be sweet. Also, you'll see repeatedly how the trend starts...
yeah that’s true, it’s best to wait for a good pullback before entering or the trades tend to get invalidated or the market gets a bit choppy.
  • #307
  • Nov 12, 2024 12:44pm Nov 12, 2024 12:44pm
Trading done for the day - and what a rollercoaster it was - 16 trades in total -
Gold was retracing on the higertimefra after yesterday's bearish rally, so my bias was bullish on the 1 minute with a few good trades initially and then the choppy shitshow started - I had expected price to retrace further back then it did - but price started to go sideways for a period leading to either loses or small wins.

Overall after 15 trades and two hours of trading i was breakeven - but breaks of structure on the lower timeframes indicated that price would continue the higher timeframe trend, so once a few broken trendlines were confirmed I entered my last trade of the day and hit my tp of 5% after two hours.

Wednesday 6/11 (5 trades - 4 win 1 lose 80% win rate - Only Gold) +3,65%
Thursday 7/11 (7 trades - 1 win 6 lose 14% win rate - Only Gold) -4,11%
Friday 8/11 (15 trades - 8 win - 7 lose 53% win rate - Only Gold) +4,65%
Monday 11/11 (17 trades - 7 win 10 lose 41% win rate - Gold, EURUSD) +3,41%
Tuesday 12/11 (16 trades - 9 wins 7 lose 56% win rate - Only Gold) +5%

After 5 trading days using this strategy as my baseline combined with my own intuition and acquired knowledge I have netted a total of 12,6%

Trades from mt4
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Analysis of last trade that not was a textbook trade in regard to the strategy - but still a brilliant trade, that combined parts of the strategy with parts of technical analysis and price action.

1M Chart
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5M Chart
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30M Chart
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1H Chart
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  • #308
  • Nov 12, 2024 2:22pm Nov 12, 2024 2:22pm
Quoting TranceGhost
Trading done for the day - and what a rollercoaster it was - 16 trades in total - Gold was retracing on the higertimefra after yesterday's bearish rally, so my bias was bullish on the 1 minute with a few good trades initially and then the choppy shitshow started - I had expected price to retrace further back then it did - but price started to go sideways for a period leading to either loses or small wins. Overall after 15 trades and two hours of trading i was breakeven - but breaks of structure on the lower timeframes indicated that price would...
Really positive stuff!

The chart below is the outcome from yesterday/today IF every signal within reason was taken. It was 9 wins 4 losses for a 14R return.

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This is the follow on from around NY open which resulted in 7 wins and 2 losses for a return of 12R

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So that's 26R in under 24 hours.

I am only showing this so that you can be confident in the signals... a win is always around the corner and multiple ones too.
You can lead a horse to water, but you can't make it drink
  • #309
  • Edited 2:48pm Nov 12, 2024 2:33pm | Edited 2:48pm
Quoting TranceGhost
Trading done for the day - and what a rollercoaster it was - 16 trades in total - Gold was retracing on the higertimefra after yesterday's bearish rally, so my bias was bullish on the 1 minute with a few good trades initially and then the choppy shitshow started....
Fantastic results.
Something to point out to anyone else caught in the chop. If you draw a line across from the low of the previous day you'll see the region of chop was yesterday's low. Price tends to 'bounce' off or chop at these important levels (or sometimes just power on through!), presumably triggering stops of traders who had a good day Monday, and Asian Open breakout stops (traders at breakeven). I hit the same patch, but was anticipating the chop (or powering through), got out and waited for a clear signal of a US open reversal (pretty well the same as your last trade).
This 'pattern' is fairly common in gold and worth trying to commit the 'look' of the day to memory. Nova will help (I use WAE on MT4 and am testing Nova on TV) with confirmation and timing.

Edit: It's also important to be aware of the timing. At 1430 UK (0930 NY) the main exchanges open. The 1430 M15 candle creates a new high for the US session and falls away for the next 2-3 hours. Sometimes days it's like clockwork.
  • #310
  • Nov 12, 2024 3:53pm Nov 12, 2024 3:53pm
Quoting axecap
{quote} Free version allows for 2 indicators so it is fine. By using the 3 ema indicator it counts as one , not 3, so works with free version. But it is simply 3 EMA'S when you search for a currency pair on TV it comes up with 5 or 6 depending on the pair. Just select IC markets. No acount required and free version of TV is fine. It seems you need to spend some time on TV and find your way around. You can get help easier if you have a specific issue.
i appreciate the assistance. i really need to start using the TV often
  • #312
  • Nov 12, 2024 7:45pm Nov 12, 2024 7:45pm
Quoting Dilyxs
Trying to understand more the concept behind this indicator and how it works, could someone explain in detail the indicator. Here's what I think is going on: Volume data is collected and magnitude is saved If candle is bearish volume candle is red, otherwise green Some sort of weight is then applied according to previous candles to determine if candle is green or red Ema of volume is applied If slope of Ema>0+ spike in volume(green candle): bullish signal? with some space allowed? trying to code this indicator as it seems amazing would love to add...
Nova Volume Indicator

The Nova Volume Indicator is an innovative trading tool designed to enhance your trading strategy by analysing volume momentum and market dynamics. This indicator empowers traders to make informed decisions by providing clear and actionable buy and sell signals based on real-time data.

How It Works:

The Nova Volume Indicator utilizes advanced algorithms to assess volume changes and price movements. Key features include:

Volume Momentum Calculation: By evaluating the relationship between price changes and volume, the indicator identifies significant momentum shifts, enabling traders to pinpoint entry and exit points with precision.

Trend Direction Filter: The indicator includes a price filter that determines the prevailing market trend based on a moving average. This ensures that trades align with the overall market direction, enhancing the probability of success.

Alert System: With customizable alert thresholds, users receive notifications when momentum crosses defined levels, keeping them informed of potential trading opportunities without the need for constant monitoring.

No Trade Signal: A black background on the histogram indicates that there are no valid trading opportunities at that moment. Use this feature to avoid entering trades during uncertain market conditions.

How to Use the Nova Volume Indicator for Entries:

Identifying the Trend: Before making any trades, check the indicator's trend direction. If the price is above the moving average, focus on bullish signals; if below, look for bearish signals.

Spotting Entries:

Buy Signal: Look for a green histogram bar indicating positive volume momentum. Enter a trade at the close of the candle when the momentum score exceeds your alert threshold and the price is above the moving average.

Sell Signal: A red histogram bar signals negative volume momentum. Enter a short position at the close of the candle when the momentum score falls below the alert threshold and the price is below the moving average.

Setting Stops and Targets: Place your stop-loss below the recent swing low for buy trades or above the recent swing high for sell trades. Aim for a minimum 1:2 risk-to-reward ratio to maximize your profitability.

Customizable Settings:

The Nova Volume Indicator offers several input settings to help you tailor the indicator to your unique trading style:

Signal Period: Adjust the period for calculating the signal line (EMA of momentum score). A shorter period reacts quickly, while a longer one smooths the signals.

Volatility Period: Control the lookback period for assessing market volatility. Shorter periods capture recent fluctuations, and longer periods provide a broader view of price behavior.

Price Filter MA Length: Set the period for the moving average used to filter trades based on price action, helping determine the trend direction.

Alert Threshold: Define the level at which the indicator signals potential buying or selling opportunities. Customize this setting to suit your trading preferences.

The Nova Volume Indicator is a powerful addition to any trader’s toolkit, designed to simplify decision-making and improve trading outcomes. Whether you're a beginner or a seasoned trader, this indicator offers the insights you need to navigate the markets confidently. Explore its customizable features to create a unique trading experience tailored to your needs. Start using the Nova Volume Indicator today and elevate your trading journey!
Trade Without Fear
  • #314
  • Nov 12, 2024 9:21pm Nov 12, 2024 9:21pm
Quoting Dilyxs
xkwisit2001. Are you ever planning on making the pinescript public?
No

I'm sure I'll then see it for sale somewhere in the forex world.
You can lead a horse to water, but you can't make it drink
  • #315
  • Nov 12, 2024 10:33pm Nov 12, 2024 10:33pm
Just want to say it works. If you are struggling strip all the other indicators away and just use the nova and 3ema. If you are getting lost trading on the 1m, zoom out to the 30m or 1h and use a 3m chart to take your entry signals and set stops and targets based on structure.
  • #316
  • Nov 12, 2024 10:42pm Nov 12, 2024 10:42pm
Quoting Rubernet
{quote} Nova Volume Indicator The Nova Volume Indicator is an innovative trading tool designed to enhance your trading strategy by analysing volume momentum and market dynamics. This indicator empowers traders to make informed decisions by providing clear and actionable buy and sell signals based on real-time data. How It Works: The Nova Volume Indicator utilizes advanced algorithms to assess volume changes and price movements. Key features include: Volume Momentum Calculation: By evaluating the relationship between price changes and volume, the...
Hi Rubernet,

Is there an mt4 version of the NVI Indicator?

Thanks.

RoyPK
  • #317
  • Nov 13, 2024 6:24am Nov 13, 2024 6:24am
Beware of CPI - personally I won't be trading before at least 30 minutes after the news.
  • #318
  • Nov 13, 2024 7:01am Nov 13, 2024 7:01am
Quoting PiipPool
Just want to say it works. If you are struggling strip all the other indicators away and just use the nova and 3ema. If you are getting lost trading on the 1m, zoom out to the 30m or 1h and use a 3m chart to take your entry signals and set stops and targets based on structure.
sounds like a good idea. i'm having difficulty getting entries on M1
  • #319
  • Nov 13, 2024 7:43am Nov 13, 2024 7:43am
Hey, I was wondering if an experience trader can comment on this trading strategy with nova:

1. Check if important new incoming, if yes within 1 hour(before and after), do not trade and only trade within NYS:
2. Go on daily TF and check for trend using MA, and other confluence and determine either sell or buy:
3. Go on 15 min time frame and check for Nova signal that matches Daily trend:
4. If Nova== signal, Check whether the slope ema on 15min is in the same direction:
5.Place Trade at market, but if market closing within 1 hour, ignore
6.If Nova indicator completely changes sign(went long and nova gave a red background), stop trade
7. If Nova indicator gives a black background, check wheter the ema present on Nova is positive or negative, if the ema is in opposite sign with trade, stop
8.If daily TF bias changes, stop trade.

Now, what I need help with is where and how to implement st and tp, in this strat, there is no defined tp and sl and I'm trying to ride with the trend as long as possible. From my prev strat, it would usually be fine to do this, but with massive stops(100 pips), will such an implementation work? The conditions for this strat are already very specific.

Moreover, could someone explain the underlying principle that the Nova Indicator uses? I get that it's profitable and works, but I'm wondering HOW is it profitable, what "principle" does it use to be so succesful? Also, I convert this strat into an algo, was wondering if nova would still work(with the conditions presented above) or is Nova purely made only for humans?
Any tip would help, thank you!
  • #320
  • Edited 9:12am Nov 13, 2024 8:51am | Edited 9:12am
Gold
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MRN - we see a spike to yesterdays NYO high and there is no momentum. FOr the next hour price is in a 50 pip box and seems to be working the high - no doubt pulling traders long. Then NY equity open and we get an engulfing with confirmation from Nova to go short. It may be a bit early but the candle engulfs and then we get a pin bar. 2nd entry also lined up.

Edit: 3pm in the UK and I've taken 3 trades after the news. The first was a fail, about 15 minutes after the news, which I closed before the SL was hit and noticing there was no momentum behind the move. The next 2 came after the NY equity open and both tagets were hit. I've left a 3rd of each open and will trail them down to yesterdays low, maybe further if the move looks solid.
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