Pick the 3 LARGEST VOLUME bars and plot to INCLUDE THE MOVEMENT FROM THE PREVIOUS CLOSE to show "KEY LEVELS" in stocks.
I think this is a worthwhile way to look for important "activity" in any stock or market and be aware of the mid-point of that bars activity as a key level.
I could paint the volume bars yellow also to indicate the bars too.
When you add this to your "Key Earnings Levels" you get an added dimension of important levels in a stock. (Note: KEY EARNINGS LEVELS only work in equities).
Regards,
Tim
Kommentar
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LOOK FOR YOURSELF AND SEE where INTC bottomed in the recent downdraft!!!
Amazed??
I hope so.
Cheers.
3/9/2017 11:18PM EST
Kommentare
kenny1924
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Great observation. Lets wait and jump in when the next high bar happens,
IvanLabrie
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This has worked well in many instruments with real volume data. Great find.
CoffeeHero
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Additionally, you can do a deeper analysis on the high-volume days and look at what time (on a 60/30/15 min. frame) when the stock was BOUGHT in high volumes to look for support levels. I did this analysis for the MOST RECENT high volume day (9-February) and came to the conclusion that a lot of INTC stock was bought at a certain time, creating a bottom at price level $35.52. Checking the daily chart I noticed something quite peculiar happening the last 4 days. :)
A-shot
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Interesting! Won't it be too many levels though on a chart creating a incomprehensible noise?
timwest
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@2use, Good point - We can avoid putting the line on and just use the triangle so you know where the biggest volume bars are.
timwest
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@2use, I think the bolder, darker-green KEY EARNINGS levels are the most important, but many of them tend to be the HIGHEST VOLUME bars also. I think it adds value or I wouldn't have put it on here. It's only 3 lines.
timwest
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@2use, It worked like a charm! Nice, right?!
A-shot
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@timwest, yes, something indeed to look out for - are you in only above 37?
timwest
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@2use, I was in already. Click on the "Play" button and see how it held the lower volume price in the selloff....
A-shot
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@timwest, Yes, i've seen. But were you in at the time of publishing the idea? But why not wait for a breach of the level to the upside? Or you went in at 34.77 once it hit it??