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Nova Volume Trading System

  • #841
  • Jan 8, 2025 11:48am Jan 8, 2025 11:48am
Quoting dot
Would like to compliment you xkwisit2001 on sharing this strategy that seems to be working well. I went over the complete thread and found it simple and profitable. I would you to explain a bit more on the MTF approach, where you look at say 5 min to signal a change of direction and then switch to 1 min to start taking entries. For e.g. if the 5 min signal line crosses the zero line, would you then see if the price is above the 200EMA for long trades or below for short trades? Once again a nice system!
Hi Dot, what I would do is wait for the higher timeframe signal line to cross the 0 level direction of the trend.

Then I would go to my lower timeframe and follow the nova signals.

As long as you can see clear market structure then you can have more confidence knowing it should be more in your favour.

Make sure whatever you are looking at on the HTF, ensure there is a clear trend direction.
You can lead a horse to water, but you can't make it drink
  • #842
  • Jan 9, 2025 3:39am Jan 9, 2025 3:39am
Not much news today so it could possibly range but bear that in mind. I will be taking trades around London/NY crossover.
You can lead a horse to water, but you can't make it drink
  • #843
  • Jan 9, 2025 5:31am Jan 9, 2025 5:31am
Quoting xkwisit2001
Not much news today so it could possibly range but bear that in mind. I will be taking trades around London/NY crossover.

rememeber NY is closed today due to president carter. so volume might be affected
  • #844
  • Jan 9, 2025 6:03am Jan 9, 2025 6:03am
STUDY THIS CAREFULLY!

When it comes to volume here is the best thing you will see today, week, month or even year!

On the left we have XAUUSD (IC Markets) & on the right is GC Futures both M1 chart

Nova as it is works very profitably with this IC Markets data but by using the futures centralised data you will never be more confident... I am going to switch to GC data!!!

You can see on the left chart during the range that the data nova is receiving is awful and has no clear direction, whereas on the right chart GC feed you can see the white histogram bars showing the buying volume from smart money.

Also have a look at the signal lines on both charts... GC you'd know exactly what is happening and what may happen next.

Marking the low of that first strong volume candle (far left of both charts - Also check the nova histogram) you can see that when price returns to it it rockets up but comparing the 2 you can see GC went exactly to the pip whereas IC Markets did not and you'd have missed the fill.

Is this not AMAZING???????

I think I have found my new edge

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You can lead a horse to water, but you can't make it drink
  • #845
  • Jan 9, 2025 6:13am Jan 9, 2025 6:13am
Quoting xkwisit2001
STUDY THIS CAREFULLY! When it comes to volume here is the best thing you will see today, week, month or even year! On the left we have XAUUSD (IC Markets) & on the right is GC Futures both M1 chart Nova as it is works very profitably with this IC Markets data but by using the futures centralised data you will never be more confident... I am going to switch to GC data!!! You can see on the left chart during the range that the data nova is receiving is awful and has no clear direction, whereas on the right chart GC feed you can see the white histogram...
That's an amazing discovery. Thank you for sharing.
  • #846
  • Jan 9, 2025 6:34am Jan 9, 2025 6:34am
Quoting PereRaphael
{quote} That's an amazing discovery. Thank you for sharing.
It was extremely surprising considering I already knew GC is the best data but comparing the 2... it's crazy as you will definitely remove many losses.

I've just been too comfortable with my current profitability, but this will change a lot... especially the signals created by nova.
You can lead a horse to water, but you can't make it drink
  • #847
  • Jan 9, 2025 6:39am Jan 9, 2025 6:39am
For those wanting real-time data, it's an addon to the TV subscription.

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You can lead a horse to water, but you can't make it drink
  • #848
  • Jan 9, 2025 7:12am Jan 9, 2025 7:12am
trades for the day. still keeping simple till i understand well
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  • #849
  • Jan 9, 2025 7:18am Jan 9, 2025 7:18am
Quoting xkwisit2001
STUDY THIS CAREFULLY! When it comes to volume here is the best thing you will see today, week, month or even year! On the left we have XAUUSD (IC Markets) & on the right is GC Futures both M1 chart Nova as it is works very profitably with this IC Markets data but by using the futures centralised data you will never be more confident... I am going to switch to GC data!!! You can see on the left chart during the range that the data nova is receiving is awful and has no clear direction, whereas on the right chart GC feed you can see the white histogram...
Thanks for highlighting this. I'm very interested to see how you get on and will take a closer look. I've always suspected that exchange volume was the way to go, but have read that broker data is very close to exchange volume data (and if it wasn't there would be an arbitrage opportunity, though I've no idea how true this is). What your chart comparison seems to be showing is that it may be true that broker exchange volume data are mostly similar, it's where they are different that is important.

I know a few folk who have moved from spot/cfd to futures but I've not looked into it at all. Are you considering trading futures?
  • #850
  • Edited 7:57am Jan 9, 2025 7:35am | Edited 7:57am
Quoting TableTop
{quote} Thanks for highlighting this. I'm very interested to see how you get on and will take a closer look. I've always suspected that exchange volume was the way to go, but have read that broker data is very close to exchange volume data (and if it wasn't there would be an arbitrage opportunity, though I've no idea how true this is). What your chart comparison seems to be showing is that it may be true that broker exchange volume data are mostly similar, it's where they are different that is important. I know a few folk who have moved from spot/cfd...
Yeah the CME feeds the futures data into the other banks and brokers that have their own liquidity pools. So with IC Markets they get their actual data from a bunch of different pools but they all come from the CME initially.

I don't think I will move to futures as I am happy how things are, but I am possibly going to incorporate the 2 in certain conditions (GC & IC).

If you go on to GC you will see Nova receives so much data that the histogram bars are insanely large which means you have to superzoom into the histogram to see the smaller bars.

The difficulty here is that you need to adjust entry style with the GC data to maybe enter directly after background change whereas you can gradually see things building up on IC markets feed which is why I like my 3rd histo bar open entry style.

So without making things sound complicated or confusing... I will just put it like this:

  1. The GC (CME) data is best for seeing the institutional volume and what they're doing especially during ranges... especially perfect during ranges to see if they're buying or selling mainly
  2. IC Markets or other data with deep retail liquidity is good to see what is going on on the retail side

I think I've cracked that so far so will let you know about my findings... always learning something new each day!

You can lead a horse to water, but you can't make it drink
  • #851
  • Jan 9, 2025 8:52am Jan 9, 2025 8:52am
Hi xkwisit, as I've been focusing on trading FX pairs (mainly USD/JPY), what would you recommend regarding volume? Would switching to the FX futures volume feed from CME be better, or is retail volume from IC Markets still sufficient for Nova?
He bought? Dump it!
  • #852
  • Jan 9, 2025 9:12am Jan 9, 2025 9:12am
Quoting ifurlan
Hi xkwisit, as I've been focusing on trading FX pairs (mainly USD/JPY), what would you recommend regarding volume? Would switching to the FX futures volume feed from CME be better, or is retail volume from IC Markets still sufficient for Nova?
IC Markets data is fine mostly, it certainly has been good for me. But I do believe having the CME data will give you an edge over retail simply because it is the institutional data feed.

In my previous post I mentioned that the data is huge from CME/COMEX so nova ends up going crazy... it works fine but I mean the scaling is crazy as you cant see the low volume bars on the histogram and not sure how to combat that really. You just have to zoom in closer.

Before you purchase the data feed, have a look at the futures instruments on tradingview first so you can see how it reacts.

For me, I have 2 screens with both charts open split screen so its very easy to follow and monitor both at the same time and then place trades on my broker account with MT4.

USD/JPY is called 6J in the futures market but it is basically upside down to USD/JPY chart if that makes sense.
You can lead a horse to water, but you can't make it drink
  • #853
  • Jan 9, 2025 9:52am Jan 9, 2025 9:52am
Quoting xkwisit2001
STUDY THIS CAREFULLY! When it comes to volume here is the best thing you will see today, week, month or even year! On the left we have XAUUSD (IC Markets) & on the right is GC Futures both M1 chart Nova as it is works very profitably with this IC Markets data but by using the futures centralised data you will never be more confident... I am going to switch to GC data!!! You can see on the left chart during the range that the data nova is receiving is awful and has no clear direction, whereas on the right chart GC feed you can see the white histogram...
So I dont know if I found something that actually works or not I' m testing it right now, but I think using the nova indicator and marking where there is a "not smooth movement" and marking for the bullish candle a rectangle on the bottom and viceversa for the bearish it seems to get lots of responsive movements.
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  • #854
  • Jan 9, 2025 10:12am Jan 9, 2025 10:12am
Quoting YugizTM
{quote} So I dont know if I found something that actually works or not I' m testing it right now, but I think using the nova indicator and marking where there is a "not smooth movement" and marking for the bullish candle a rectangle on the bottom and viceversa for the bearish it seems to get lots of responsive movements. {image}
Looking at that where you have marked has the strong volume bars so when price returns to that area you could get a low risk entry.

It would typically be an order block in the ICT world but just go to keep the overall trend direction in mind. So if in a bullish scenario you could get a very low risk entry on retest but after the bearish volume has reduced or swapped sides on histogram (where your vertical line is)... that was a good entry and you marked it.

You could also see the bearish volume reducing on the retest of the low (divergence) and signal line starting to cross back up.

Good stuff, love hearing everyones insights.

Also, if you are bored you can have a play around with the settings.

Signal period will be more responsive whereas higher numbers i.e 20 you'll see it smooth out.

Volatility period is based on how many bars you want it measure.
You can lead a horse to water, but you can't make it drink
  • #855
  • Jan 9, 2025 10:32am Jan 9, 2025 10:32am
Just took this on gold

Quick 2:1
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You can lead a horse to water, but you can't make it drink
  • #856
  • Jan 9, 2025 10:52am Jan 9, 2025 10:52am
Quoting xkwisit2001
{quote} ... I mentioned that the data is huge from CME/COMEX so nova ends up going crazy... it works fine but I mean the scaling is crazy as you cant see the low volume bars on the histogram and not sure how to combat that really.
Is there a function in Pinescript to allow users to define the max/min of the indicator window? I think there is a way in MT4/5 but no idea about TV. (Rescaling is no biggie)
  • #857
  • Jan 9, 2025 10:56am Jan 9, 2025 10:56am
Quoting TableTop
{quote} Is there a function in Pinescript to allow users to define the max/min of the indicator window? I think there is a way in MT4/5 but no idea about TV. (Rescaling is no biggie)
Just found it.

Right click on the far right of the nova indicator where the values are and you can set it to auto scale.

This helps when jumping from 1 timeframe to another but you still have to scale in to see the smaller bars if there is much higher volume.

It's a bit finicky though as you sometimes have to press auto again - not sure why.

EDIT: I think if you don't mess with nova scaling after you hit auto it won't revert back but as soon as you do and try to see smaller bars it will reset.
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You can lead a horse to water, but you can't make it drink
  • #858
  • Jan 9, 2025 11:07am Jan 9, 2025 11:07am
Quoting xkwisit2001
{quote} Just found it. Right click on the far right of the nova indicator where the values are and you can set it to auto scale. This helps when jumping from 1 timeframe to another but you still have to scale in to see the smaller bars if there is much higher volume. It's a bit finicky though as you sometimes have to press auto again - not sure why. EDIT: I think if you don't mess with nova scaling after you hit auto it won't revert back but as soon as you do and try to see smaller bars it will reset. {image}
Got it - that makes it easier to review - thanks
  • #859
  • Jan 9, 2025 1:31pm Jan 9, 2025 1:31pm
Quoting xkwisit2001
STUDY THIS CAREFULLY! When it comes to volume here is the best thing you will see today, week, month or even year! On the left we have XAUUSD (IC Markets) & on the right is GC Futures both M1 chart Nova as it is works very profitably with this IC Markets data but by using the futures centralised data you will never be more confident... I am going to switch to GC data!!! You can see on the left chart during the range that the data nova is receiving is awful and has no clear direction, whereas on the right chart GC feed you can see the white histogram...
Hi, so you just analyse market o futures and trade on spot for getting better signals and less fakes by purchasing real time data for futures markets?
  • #860
  • Edited 2:09pm Jan 9, 2025 1:58pm | Edited 2:09pm
Quoting Ju4ara
{quote} Hi, so you just analyse market o futures and trade on spot for getting better signals and less fakes by purchasing real time data for futures markets?
Yes to a degree, you want to have both at your disposal to monitor what smart money is doing and what retail is doing.

Retail entries will be easier to enter as you are seeing the lower volume as things ramp up which is in line with my 3rd histo bar open entry.

Depending on the time, the CME data can be traded as is but if it's moving heavily then it can be difficult to read the data as every bar is large....... buuutt if you get in at the earliest signs then you can follow smart money.

Have a look at GC and IC markets (XAUUSD) and can then analyse how it moves.

The insights are pretty great!

Check below and you can see in this instance IC Markets actually looks better here compared to the actual CME data.

This may be because smart money isn't trading as much right now and a lot more traders through the liquidity provider that IC Markets use are active (retail)

EDIT: Funnily enough there is divergence on those lows between the 2.
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