Nova Volume Trading System

Quoting LubeDaddy

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{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...

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Quoting xkwisit2001

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{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...

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Quoting Degolep

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{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

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Quoting xkwisit2001

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{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...

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Quoting LubeDaddy

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{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.

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Quoting axecap

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{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

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Quoting xkwisit2001

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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...

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Quoting PereRaphael

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{quote} What is the Indicator you are using to show Market structure please? Thanks for sharing the system.

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Quoting xkwisit2001

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{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.

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Quoting xkwisit2001

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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...

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Quoting xkwisit2001

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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}

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Quoting LubeDaddy

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{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...

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Quoting xkwisit2001

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{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.

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