- Can I use the program with interday data?
While it mechanically could work, we won't support it. After extensive testing we like the legs to be somewhere between 7 and 21 days. Statistically less than three days is usually a flip of a coin. The market is like a rubber band, it can be stretched for a while before it breaks. There are probably organic reasons to the three days also, such as margin calls. Back to top
- Does Ord Volume work with options and futures?
While the data can be imported you must remember that open interest in options is a moving target. Roll over and hedging skews the value of volume traded since you don't know the purpose of the contracts. We prefer to use ETF's for the commodities to give the signals for our Futures and Commodities trades. The float is usually constant and the signals very good. A good examples of this is the November 13th low in gold double ETF (DGP).Back to top
- Can I use 50 day moving average/macd/etc trend following indicator?
You could but it would hurt your results over time. By there vary nature trend following indicators are 90 degrees out of phase. The first 25% of the of the wave with be wrong, the middle 50% right, and the last 25% wrong again. They get in in late and out late. We would refer you to Evidence-Based Technical Analysis or Rocket Science for Traders as points for further study. If you find extreme volume changes, they have a magnatude better results than trend following indicators.Back to top
- What does "Proving The Point" mean in Ord Volume?
The term "Proving the Point" comes from a term coined by the original evangelist of price and volume trading, Richard Wyckoff. The term refers to when a stock goes through a previous swing with significantly less volume and pops back into the trading range defined by the previous swings. It has proved the point that there was no demand for higher prices or supply for lower prices, at that time. Back to top
- What does "Sign Of Strength" and "Sign of Weakness" mean in Ord Volume?
The term "Sign Of Strength/Weakness" is a one day pattern where the price has a huge interday change at previous swing points. The huge price change interday also has a huge volume day. One that stands out like a sore thumb. These days stand out easily against a back drop of the usual up down of the rest of the charts at previous changes in price direction. We believe that these show the path of least resistance in a stocks future price. Back to top
Tim Ord is now a ForExPros Contributor. Please click on the icon above to view his contributions to this site.