Profiting from noise. Price Action Trading on tick charts

Coming to the realization that you need to be true to yourself and that doing what everybody else does is probably not a good idea is one of those turning points IMO. This is me and how I trade is just reflective of this fact. It’s one of the few advantages we have as armchair traders, there are no rules. No right no wrong. Just your way. And a lot of hard work.

Losses are par for the course and again IMO one of the hardest lessons to learn.That’s why we have to stick to what ever plan we have developed. That, over time, gives us the confidence to trade our systems.

But I have a very special gift for all. The result of my hard work. It’s a custom indicator I have just finished developing and I call it “Market Blend”. Now, keep in mind I have developed it specifically for tick charts. In my eyes, time-based charts are distorted because of volume. By eliminating this distortion one can more accurately measure what the market participants are doing. And let’s face facts, participants are only doing one of 4 things, buyers enter and leave the market, sellers enter and leave the market. The result, price goes up, price goes down.

This clever little indicator tries to map that activity. Not going into how to use it, those who are clever enough can ask questions. This is it in action

Those also clever enough will see a new panel in the screenshot. This is the start of my trading bot. The bars are just a histogram of the Market Blend indicator. But the boxes are now linked to the indicator to advise in trade bias. I have also included that in the goodie bag. Again anyone with the skills should be able to tell when I’ve entered, and why a added to the position.

Finally, here’s why I’ve got the confidence to let a winner run - boxes never lie and now I know what the players are doing …

Gift.zip (48.4 KB)