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Nova Volume Trading System

  • #741
  • Dec 12, 2024 4:07pm Dec 12, 2024 4:07pm
Quoting LubeDaddy
{quote} Excited to hear that there might be an update upcoming! If you are in the updating process currently, I‘d have another suggestion for an additional feature: Since many of us follow your HTF approach, would it be possible to add an option that allows changing the timeframe? So for example while watching the M1 chart you could add another NOVA indicator above/below, that displays the signal line of M15 for example. Split screen does the job as well of course, and I don’t know how much of an effort it would be to add that (maybe...
So you want an option to see the HTF nova on the M1?

That could would work well as you'll find the best nova entries are when the 5M background colour changes in line with the trend.

Only difference is that the best entry will usually be on the M1 buttt using the HTF will eliminate losses also.

I've taken note and will let you know over the weekend how what I'll be adding to the next version.

As long as it's helping you guys and working for you, I'm happy to make modifications.

I have so many different versions of nova on my side but this is the one I use for simplicity.

You may also have a play around with nova settings as it is possible to modify the current nova version to show the signals faster or slower.

The current settings are balanced.
You can lead a horse to water, but you can't make it drink
  • #742
  • Dec 12, 2024 4:24pm Dec 12, 2024 4:24pm
Quoting xkwisit2001
{quote} Oh yeah, I can do that. It will be in the next update which will be a big one so keep any suggestions coming as I'll try and get as much implemented as possible. The first bar can be the best entry but the issue is that sometimes there will be a big bar fake out and i'll reverse. If you scour the charts for any moves that hit +200 or -200 they most times tend to pullback hard but that can be an entry method... to enter maybe on 50% of the last big bar to eliminate that happening. However, if it works for you and you end up making way more...
Thank you. Alerts for this will make it much easier. Also you can't just enter blindly when nova says so we all know that
Anything above the line is an uptrend, below the line is a downtrend.
  • #743
  • Dec 12, 2024 4:34pm Dec 12, 2024 4:34pm
Quoting Degolep
{quote} Thank you. Alerts for this will make it much easier. Also you can't just enter blindly when nova says so we all know that
I should have rephrased it, if there is a strong trend you can often still come out profitable lol
You can lead a horse to water, but you can't make it drink
  • #744
  • Dec 12, 2024 4:51pm Dec 12, 2024 4:51pm
Quoting xkwisit2001
{quote} So you want an option to see the HTF nova on the M1? That could would work well as you'll find the best nova entries are when the 5M background colour changes in line with the trend. Only difference is that the best entry will usually be on the M1 buttt using the HTF will eliminate losses also. I've taken note and will let you know over the weekend how what I'll be adding to the next version. As long as it's helping you guys and working for you, I'm happy to make modifications. I have so many different versions of nova on my side but this...

Thank you!! :-)

And yes, that is exactly what I meant. Actually the same like having open M1 and M5/15 charts with NOVA on both of them, showed split screen next to each other. That’s my current setup.

But for better visualization it might be more efficient to only have the M1 chart open, but with several NOVAs calculated on higher timeframes. Wouldn’t replace the check of market structure on HTF of course, but if you monitor several assets it’s helpful for quickly browsing through.
  • #745
  • Dec 12, 2024 6:35pm Dec 12, 2024 6:35pm
Quoting LubeDaddy
{quote} Thank you!! :-) And yes, that is exactly what I meant. Actually the same like having open M1 and M5/15 charts with NOVA on both of them, showed split screen next to each other. That’s my current setup. But for better visualization it might be more efficient to only have the M1 chart open, but with several NOVAs calculated on higher timeframes. Wouldn’t replace the check of market structure on HTF of course, but if you monitor several assets it’s helpful for quickly browsing through.
I think the option to set the time frame according to the chart (default) or manually would fix it. So you would then have 2 instances of nova running. One according to the chart time frame and then a second panel set to what ever higher time frame you want. That way you coule have 3 or more running if you wanted. Hopefully that will work for XK
Its all just one persons opinion
  • #746
  • Dec 13, 2024 2:49am Dec 13, 2024 2:49am
Quoting axecap
{quote} I think the option to set the time frame according to the chart (default) or manually would fix it. So you would then have 2 instances of nova running. One according to the chart time frame and then a second panel set to what ever higher time frame you want. That way you coule have 3 or more running if you wanted. Hopefully that will work for XK
Exactly!
  • #747
  • Dec 13, 2024 7:00am Dec 13, 2024 7:00am
I do like gaps in the market. Below shows USDCHF and a gap from a couple of weeks ago that has just been filled.

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On the H1 Nova gives an excellent indication of trending vs ranging. The gap gives something to aim at.
  • #748
  • Edited 10:38am Dec 13, 2024 9:23am | Edited 10:38am
SP500 - D1 lower low, H4 high breakout and fail (maybe a sweep?). Not quite to the rules but I guess we could consider it an aggressive entry. As soon as price comes back below the 200 and back inside of the H4 high. THe pullback give another entry.
Attached Image (click to enlarge)
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UPDATE: 2 days to set up and the main move takes about an hour, targeting the stops of long, higher time-frame traders who put there stops at the low of the previous day and the low of the day 2 days ago.
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  • #749
  • Dec 13, 2024 2:43pm Dec 13, 2024 2:43pm
Was having a little play around with something that Lubedaddy mentioned about the background change on Nova M5.

If following structure and price is bullish on the HTF, If you start marking the background colour change on the M5 with a vertical line and enter with stops at the recent low you can get some really good returns.

I am using an indicator to show the market structure in the image but targeting the major swings which are the blue dots as take profit you can see its extremely profitable.

There were many many other entries on the M1 but I think the M5 entries could be much better if you are happy to hold trades a bit longer.

Take a looky

NOTE: the 3rd trade was a trade I took today as was up with baby. I didn't take any of the others and I TP a bit earlier than on the chart below but it eventually hit.

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You can lead a horse to water, but you can't make it drink
  • #750
  • Dec 13, 2024 3:31pm Dec 13, 2024 3:31pm
UPDATE: I will be looking to implement the following things over the weekend.

Background Color Change Alerts

Alerts triggered when the background changes between bullish (green), bearish (red), or neutral (black). It'll then be able to notify you of any momentum changes in real-time without needing to watch the charts constantly.

Dashboard for Multi-Timeframe Status

A dashboard displayed in the corner of the chart showing Nova's status (bullish, bearish, neutral) across multiple timeframes (M1, M5, M15,H1, H4 etc...)

Multi-Timeframe Functionality

Ability to select a higher timeframe (HTF) for Nova's analysis while trading on a lower timeframe (i.e see 5M Nova on the 1M chart). That way you can align lower timeframe trades with higher timeframe momentum and trend. So will add a dropdown in settings to choose the desired HTF.

This one may be a bit of weird one to implement because the volume bars will look weird as 5M nova on a 1M chart will be stretched to fit across the 5 1 minute bars.

Maybe the dashboard will be better?

I think these things will be extremely helpful
You can lead a horse to water, but you can't make it drink
  • #751
  • Dec 13, 2024 3:37pm Dec 13, 2024 3:37pm
Quoting xkwisit2001
Was having a little play around with something that Lubedaddy mentioned about the background change on Nova M5. If following structure and price is bullish on the HTF, If you start marking the background colour change on the M5 with a vertical line and enter with stops at the recent low you can get some really good returns. I am using an indicator to show the market structure in the image but targeting the major swings which are the blue dots as take profit you can see its extremely profitable. There were many many other entries on the M1 but I...
What is the Indicator you are using to show Market structure please?

Thanks for sharing the system.
  • #752
  • Dec 13, 2024 3:42pm Dec 13, 2024 3:42pm
Quoting PereRaphael
{quote} What is the Indicator you are using to show Market structure please? Thanks for sharing the system.
It's called Major Minor Fib Points - HERE

It'll show blue dots for major swing points and then the purple colour for the minor ones.

I will also implement that in the Nova indicator update as well as the EMA's.

Got a lot of work to do but it'll be worth it when done so everything will be in a single indicator.
You can lead a horse to water, but you can't make it drink
  • #753
  • Dec 13, 2024 3:50pm Dec 13, 2024 3:50pm
One tip.

If nova issues an entry signal and its off a big candle - enter at the 50% of that big candle as it'll often pull back on the next candle unless it's a news move.

My 3rd bar entry would have been the best entry anyway but it's just a good way to know a nice area to enter.
Attached Image (click to enlarge)
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You can lead a horse to water, but you can't make it drink
  • #754
  • Dec 13, 2024 3:54pm Dec 13, 2024 3:54pm
Quoting xkwisit2001
{quote} It's called Major Minor Fib Points - HERE It'll show blue dots for major swing points and then the purple colour for the minor ones. I will also implement that in the Nova indicator update as well as the EMA's. Got a lot of work to do but it'll be worth it when done so everything will be in a single indicator.
That's great. Thank you.
  • #755
  • Dec 13, 2024 4:01pm Dec 13, 2024 4:01pm
Quoting xkwisit2001
UPDATE: I will be looking to implement the following things over the weekend. Background Color Change Alerts Alerts triggered when the background changes between bullish (green), bearish (red), or neutral (black). It'll then be able to notify you of any momentum changes in real-time without needing to watch the charts constantly. Dashboard for Multi-Timeframe Status A dashboard displayed in the corner of the chart showing Nova's status (bullish, bearish, neutral) across multiple timeframes (M1, M5, M15,H1, H4 etc...) Multi-Timeframe Functionality...

Great stuff, xkwisit2001!!
A dashboard would be awesome and is more than I was expecting would be even possible to implement - already very excited to see the new version!

And I know what you mean with the stretched bars of HTF NOVA. I would still find it very useful (maybe only using the next higher timeframe then), and if it would be too confusing one could still only show the signal to display the momentum of HTF.

But as mentioned, dashboard would be absolutely amazing, and I think both additions (HTF-Option AND dashboard) would have their right to exist!

Hope you enjoy the time with the baby and your nights are not too short, bud!
  • #756
  • Dec 13, 2024 4:05pm Dec 13, 2024 4:05pm
Quoting xkwisit2001
One tip. If nova issues an entry signal and its off a big candle - enter at the 50% of that big candle as it'll often pull back on the next candle unless it's a news move. My 3rd bar entry would have been the best entry anyway but it's just a good way to know a nice area to enter. {image}
That’s what I try to do too - using NOVA as direction/signal and then use market basics to time the entry.
  • #757
  • Dec 13, 2024 4:25pm Dec 13, 2024 4:25pm
Quoting LubeDaddy
{quote} Great stuff, xkwisit2001!! A dashboard would be awesome and is more than I was expecting would be even possible to implement - already very excited to see the new version! And I know what you mean with the stretched bars of HTF NOVA. I would still find it very useful (maybe only using the next higher timeframe then), and if it would be too confusing one could still only show the signal to display the momentum of HTF. But as mentioned, dashboard would be absolutely amazing, and I think both additions (HTF-Option AND dashboard) would...
I'll try both and see how it turns out but the dashboard will definitely be added. As soon as it goes from neutral to bullish it'll then alert you and you can jump in.

Thank you and I think the early mornings will be a blessing in disguise as I can get more done in the day

The black/white background is the neutral zone and its more based on some thresholds I've set but you'll find it'll turn colour in line with market structure breaks at times.
You can lead a horse to water, but you can't make it drink
  • #758
  • Dec 13, 2024 4:47pm Dec 13, 2024 4:47pm
Quoting xkwisit2001
{quote} I'll try both and see how it turns out but the dashboard will definitely be added. As soon as it goes from neutral to bullish it'll then alert you and you can jump in. Thank you and I think the early mornings will be a blessing in disguise as I can get more done in the day The black/white background is the neutral zone and its more based on some thresholds I've set but you'll find it'll turn colour in line with market structure breaks at times.
Sounds really promising!

And I agree, the early bird catches the worm
  • #759
  • Dec 13, 2024 4:56pm Dec 13, 2024 4:56pm
Nova NAS100 H4 - Nice trades entering on bar close of colour change.

16R 1:2 Target in a month for those who like to take it slow.

Non trade if signal is below the 0 level.

Of course during ranging periods stay out!
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You can lead a horse to water, but you can't make it drink
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