Đối với những Newbie hoặc những bạn tuy đã tham gia thị trường lâu, nhưng vẫn loay hoay chưa tìm được cho 1 mình 1 hệ thống giao dịch phù hợp, hoặc là đã có rồi nhưng vẫn có tinh thần học hỏi, tìm hiểu sâu hơn về nhịp chạy của thị trường, thì theo cá nhân mình thì phương pháp Price Action có lẽ sẽ là 1 chủ đề mà các bạn nên dành thời gian để tìm hiểu. Do đó, hôm nay mình xin chia sẻ với các bạn bộ sách của Galen Woods: How to trade with Price action. Review sơ qua về cuốn sách: 1 – Kickstarter: cuốn này giới thiệu sơ qua về Price Action, các mô hình nến và mô hình giá phổ biến trên thị trường 2 – Strategies: cuốn này nói về 10 system tương ứng với 10 mô hình Price action được nói đến trong cuốn 1 3 – Master: kết hợp mô hình giá với các Indicator, cách nhận diện Trader bị mắc bẫy và cách tận dụng nó để kiếm lợi nhuận,v.v
Day Trading with Price Action Indicator Manual Galen Woods Trading Setups Review Copyright © 2014 Galen Woods NinjaTrader Edition (Version 1.0) Cover Design by Beverley S www.tradingsetupsreview.com i Copyright © 2014 by Galen Woods (Singapore Business Registration No 53269377M) All rights reserved Day Trading with Price Action Indicators - Version 1.0 Released on September 2014 by Galen Woods (Singapore Business Registration No 53269377M) All charts were created with NinjaTrader™ NinjaTrader™ is a Registered Trademark of NinjaTrader™, LLC All rights reserved No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, without written permission from the publisher, except as permitted by Singapore Copyright Laws Affiliate Program If you find this set of indicators to be valuable and wish to offer it for sale to your own customers or readers, please contact Galen Woods to be an affiliate to get a percentage of each sales as commission Contact Information Galen Woods can be reached at: Website: http://www.tradingsetupsreview.com Email: galenwoods@tradingsetupsreview.com www.tradingsetupsreview.com ii Disclaimer The information provided within the Day Trading with Price Action eBook series and any supporting documents, software, websites, and emails is only for the purposes of information and education We don't know you so any information we provide does not take into account your individual circumstances, and should NOT be considered advice Before investing or trading on the basis of this material, both the author and publisher encourage you to first seek professional advice with regard to whether or not it is appropriate to your own particular financial circumstances, needs and objectives The author and publisher believe the information provided is correct However we are not liable for any loss, claims, or damage incurred by any person, due to any errors or omissions, or as a consequence of the use or reliance on any information contained within the Day Trading with Price Action eBook series and any supporting documents, software, websites, and emails Reference to any market, trading timeframe, analysis style or trading technique is for the purpose of information and education only They are not to be considered a recommendation as being appropriate to your circumstances or needs All charting platforms and chart layouts (including timeframes, indicators and parameters) used within this eBook series are being used to demonstrate and explain a trading concept, for the purposes of information and education only These charting platforms and chart layouts are in no way recommended as being suitable for your trading purposes www.tradingsetupsreview.com iii Charts, setups and trade examples shown throughout this product have been chosen in order to provide the best possible demonstration of concept, for information and education purposes They were not necessarily traded live by the author U.S Government Required Disclaimer: Commodity Futures Trading and Options trading has large potential rewards, but also large potential risk You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets Don't trade with money you can't afford to lose This is neither a solicitation nor an offer to Buy/Sell futures or options No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site The past performance of any trading system or methodology is not necessarily indicative of future results CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDEROR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN Hyperlinks in this series contain Amazon affiliate links www.tradingsetupsreview.com iv Contents Chapter – Introduction Chapter – Setting Up 2.1 - NinjaTrader 2.2 - Indicators 2.3 - Chart Template 2.3.1 - Loading the Chart Template 2.3.2 - Modifying and Saving the Chart Template 2.3.3 - Additional Considerations 2.4 - Market Analyzer 2.4.1 - Loading the Market Analyzer template 2.4.2 - Understanding the Market Analyzer Chapter – Trading Tools 3.1 - Price Action Time-Frame Index (PATI) 3.1.1 - Construction 3.1.2 - Plots & Inputs 3.1.3 - How to Use 3.2 - Reward-to-Risk (R2R) Indicator 10 3.2.1 - Construction 10 3.2.2 - Plots & Inputs 11 3.2.3 - How to Use 12 Chapter – Price Pattern Tools 13 4.1 - Congestion Zone / Break-out Failure 13 4.1.1 - Construction 14 4.1.2 - Plots & Inputs 15 www.tradingsetupsreview.com v 4.1.3 - How to Use 16 4.2 - Trend Bar Failure 17 4.2.1 - Construction 17 4.2.2 - Plots & Inputs 18 4.2.3 - How to Use 19 4.3 - Deceleration 19 4.3.1 - Construction 19 4.3.2 - Plots & Inputs 20 4.3.3 - How to Use 21 4.4 - Anti-Climax 22 4.4.1 - Construction 22 4.4.2 - Plots & Inputs 23 4.4.3 - How to Use 24 4.5 - Pressure Zone 24 4.5.1 - Construction 24 4.5.2 - Plots & Inputs 25 4.5.3 - How to Use 26 www.tradingsetupsreview.com vi Chapter – Introduction This is a guide to using the “Day Trading with Price Action” indicators This version consists of the following indicators: Trading Tools Price Action Time-Frame Index (PATI) Reward-to-Risk (R2R) Indicator Price Action Congestion Zone Trend Bar Failure Deceleration Anti-Climax Pressure Zone This bundle of price action indicators serves as a complement to the “Day Trading with Price Action” eBook series It is strongly recommended that you read the series before using these indicators Do not employ them mechanically This manual will cover the following aspects for each indicator Construction of each indicator Explanation of its inputs Summary of its usage The default settings of each indicator correspond to the version explained in the “Day Trading with Price Action” eBook series www.tradingsetupsreview.com Chapter – Introduction Refer to the series for the trading concepts underlying these price patterns and the trading techniques associated with them www.tradingsetupsreview.com Chapter – Setting Up To use the indicators on the NinjaTrader platform, follow the instructions below These instructions are the minimal steps to use the indicators and related templates They are not an exhaustive guide to NinjaTrader For the official guide to using NinjaTrader, please refer to its online guide 2.1 - NinjaTrader You need the NinjaTrader charting platform to use the indicators Download the NinjaTrader charting platform from www.ninjatrader.com Install NinjaTrader If you need intraday futures data to get started with the indicators, contact one of NinjaTrader’s partner brokers (or NinjaTrader Brokerage itself) and request for a demo account Learn the basic functions of NinjaTrader with this short article It covers how to connect to a data source, load a chart and apply indicators If you are new to NinjaTrader, please not skip this step 2.2 - Indicators Before you can use the price action indicators, you need to import them into NinjaTrader Follow these steps to import the price action indicators www.tradingsetupsreview.com Chapter – Trading Tools Risk Parameters Input Field Remarks Probability of Winning The winning probability used to derive the required trade reward The default value is 40% Long shows only bullish targets Short shows only bearish targets Both shows targets in both directions Number of ticks to add to trade risk Use it to include the impact of commissions and slippage Target Direction Buffer Amount Table 3-2 Volatility Add-On Input Field Filter Period Remarks Choose if you want to hide the targets for wide range bars (i.e higher trade risk) Bars with range above the average bar range are considered ‘wide range’ The average bar range is calculated based on this period Table 3-3 3.2.3 - How to Use Enter a trade only if your target lies beyond the R2R target plot (i.e positive expectancy) You must set Calculate on bar close to False for effective ongoing analysis of trade expectancy If you want to avoid using wide range bars as setup bars, choose True for the Filter option under Volatility Add-On Refer to Volume IV Chapter 5.1.1 of the eBook series for details www.tradingsetupsreview.com 12 Chapter – Price Pattern Tools These price pattern indicators are meant as educational tools rather than trading tools They mark out price patterns according to our definition in the “Day Trading with Price Action” series to facilitate your learning While you may also employ them in your trading process, there are two important points to note: You should also be able to pick up these patterns without the help of the indicators You should not base any trades on these indicators in isolation You should not trade these indicators mechanically There are five price pattern indicators GalenWoodsCongestion GalenWoodsTrendBarFailure GalenWoodsDeceleration GalenWoodsAntiClimax GalenWoodsPressureZone For these indicators, Calculate on bar close must always be set to True 4.1 - Congestion Zone / Break-out Failure This indicator identifies areas of congested price action It also marks out possible failures of congestion break-out www.tradingsetupsreview.com 13 Chapter – Price Pattern Tools 4.1.1 - Construction The indicator will mark out a Congestion Zone when three consecutive price bars fail to close beyond their preceding price bar A Congestion Zone is defined as the area between the highest close and lowest close of the bars forming the Zone If the market is in congestion, the indicator will also look for Congestion Break-out Failures A bullish Congestion Break-out Failure occurs when: The market is in congestion A bar closes below the range of the preceding bar The next bar is a bullish bar A bearish Congestion Break-out Failure occurs when: The market is in congestion A bar closes above the range of the preceding bar The next bar is a bearish bar www.tradingsetupsreview.com 14 Chapter – Price Pattern Tools 4.1.2 - Plots & Inputs Figure 4-1 ES 5-minute chart with Congestion Zones and Break-out Failures This indicator plots the Congestion Zone by drawing a rectangle to surround the congested price action area Some Congestion Zones are concentrated at a single price level For such instances, a horizontal line, instead of a rectangle, will be drawn As a Congestion Zone is only confirmed with its third bar, the first and second bars are included into the marked Zone retrospectively It also marks out arrows for Congestion Break-out Failures An upwards pointing arrow marks out the setup bar for a bullish pattern A downwards pointing arrow marks out the setup bar for a bearish pattern www.tradingsetupsreview.com 15 Chapter – Price Pattern Tools Congestion Zone Input Field Color Remarks Opacity Opacity of Congestion Zones is transparent and 10 is opaque Thickness of single-price Congestion Zones Line Width Color of Congestion Zones Table 4-1 Congestion Break-Out Failure Input Field Remarks Show Signals Bullish Signal Color Choose if you want the Break-out Failure patterns to be marked or hidden Color of bullish Break-out Failure signals Bearish Signal Color Color of bearish Break-out Failure signals Table 4-2 Under Visual, there is a Signal Displacement field It allows you to adjust the distance (in number of ticks) between the indicator arrows and the price bars If you use multiple price pattern indicators, you can increase the displacement to avoid overlapping of signal arrows 4.1.3 - How to Use Beware of trading when the market is in congestion Congestion Break-out Failures must be triggered within one bar If not, the signal should be ignored Refer to Volume III Chapter and of the eBook series for details www.tradingsetupsreview.com 16 Chapter – Price Pattern Tools Advanced For the Market Analyzer and using the indicator within another indicator or strategy, the following states are exposed Failure Value Meaning Default Bullish Congestion Break-out Failure -1 Bearish Congestion Break-out Failure Table 4-3 Congested Value Meaning Default; not in congestion In congestion Table 4-4 4.2 - Trend Bar Failure The Trend Bar Failure indicator identifies the lack of followthrough price action following a clearly directional price bar 4.2.1 - Construction The body of a price bar is the difference between its open and close The range of a price bar is the difference between its high and its low A trend bar is a price bar with a body that takes up more than half of its range www.tradingsetupsreview.com 17 Chapter – Price Pattern Tools When a bullish trend bar is not followed by another bullish trend bar, a bearish Trend Bar Failure is highlighted When a bearish trend bar is not followed by another bearish trend bar, a bullish Trend Bar Failure is marked 4.2.2 - Plots & Inputs Figure 4-2 ES 5-minute chart with Trend Bar Failure indicator This indicator marks out arrows for Trend Bar Failures An upwards pointing arrow marks out the setup bar for a bullish pattern A downwards pointing arrow marks out the setup bar for a bearish pattern Display Input Field Remarks Bullish Signal Color Color of bullish Trend Bar Failure signals Bearish Signal Color Color of bearish Trend Bar Failure signals www.tradingsetupsreview.com 18 Chapter – Price Pattern Tools Table 4-5 Under Visual, there is a Signal Displacement field It allows you to adjust the distance (in number of ticks) between the indicator arrows and the price bars If you use multiple price pattern indicators, you can increase the displacement to avoid overlapping of signal arrows 4.2.3 - How to Use Trend Bar Failures must be triggered within one bar If not, the signal should be ignored Refer to Volume III Chapter of the eBook series for details Advanced For the Market Analyzer and using the indicator within another indicator or strategy, the following state is exposed Failure Value Meaning Default Bullish Trend Bar Failure -1 Bearish Trend Bar Failure Table 4-6 4.3 - Deceleration The Deceleration indicator finds weakening price thrusts 4.3.1 - Construction A bearish Deceleration must meet the following criteria: www.tradingsetupsreview.com 19 Chapter – Price Pattern Tools Three consecutive bars with higher bar highs The distance by which the preceding bar is exceeded must be decreasing A bullish Deceleration must meet the following criteria: Three consecutive bars with lower bar lows The distance by which the preceding bar is exceeded must be decreasing 4.3.2 - Plots & Inputs Figure 4-3 ES 5-minute chart with Deceleration indicator This indicator marks out arrows for Deceleration patterns An upwards pointing arrow marks out the last bar of a bullish Deceleration pattern A downwards pointing arrow marks out the last bar of a bearish Deceleration pattern www.tradingsetupsreview.com 20 Chapter – Price Pattern Tools Display Input Field Remarks Bullish Signal Color Color of bullish Deceleration signals Bearish Signal Color Color of bearish Deceleration signals Table 4-7 Under Visual, there is a Signal Displacement field It allows you to adjust the distance (in number of ticks) between the indicator arrows and the price bars If you use multiple price pattern indicators, you can increase the displacement to avoid overlapping of signal arrows 4.3.3 - How to Use This indicator marks out the last bar of a Deceleration pattern which is not always the setup bar For bullish patterns, wait for a bullish bar to serve as the setup bar For bearish patterns, wait for a bearish setup bar Refer to Volume III Chapter of the eBook series for details Advanced For the Market Analyzer and using the indicator within another indicator or strategy, the following state is exposed www.tradingsetupsreview.com 21 Chapter – Price Pattern Tools Deceleration Value Meaning Default Bullish Deceleration pattern -1 Bearish Deceleration pattern Table 4-8 4.4 - Anti-Climax The Anti-climax indicator finds climatic and exhaustive price thrusts 4.4.1 - Construction A bearish Anti-climax pattern must meet the following criteria: Three consecutive bars with higher bar highs The distance by which the preceding bar is exceeded must be increasing A bullish Anti-climax pattern must meet the following criteria: Three consecutive bars with lower bar lows The distance by which the preceding bar is exceeded must be increasing www.tradingsetupsreview.com 22 Chapter – Price Pattern Tools 4.4.2 - Plots & Inputs Figure 4-4 ES 5-minute chart with Anti-Climax indicator This indicator marks out arrows for Anti-climax patterns An upwards pointing arrow marks the last bar of a bullish Anticlimax pattern A downwards pointing arrow marks out the last bar of a bearish Anti-climax pattern Display Input Field Remarks Bullish Signal Color Color of bullish Anti-climax signals Bearish Signal Color Color of bearish Anti-climax signals Table 4-9 Under Visual, there is a Signal Displacement field It allows you to adjust the distance (in number of ticks) between the indicator arrows and the price bars If you use multiple price pattern indicators, you can increase the displacement to avoid overlapping of signal arrows www.tradingsetupsreview.com 23 Chapter – Price Pattern Tools 4.4.3 - How to Use This indicator marks the last bar of an Anti-climax pattern However, the marked bar is not always the setup bar For bullish patterns, wait for a bullish bar to serve as the setup bar For bearish patterns, wait for a bearish setup bar Refer to Volume III Chapter of the eBook series for details Advanced For the Market Analyzer and using the indicator within another indicator or strategy, the following state is exposed Anticlimax Value Meaning Default Bullish Anti-climax pattern -1 Bearish Anti-climax pattern Table 4-10 4.5 - Pressure Zone The Pressure Zone indicator identifies areas that exhibit buying or selling pressure 4.5.1 - Construction This indicator marks out Pressure Zones when three consecutive price bars exhibit overlapping tails/shadows/wicks A bullish Pressure Zone occurs when the lower tails overlap A bearish Pressure Zone occurs when the higher tails overlap www.tradingsetupsreview.com 24 Chapter – Price Pattern Tools As a Pressure Zone is only confirmed with its third bar, the first and second bars are marked as part of the Zone retrospectively 4.5.2 - Plots & Inputs Figure 4-5 ES 5-minute chart with Pressure Zone indicator This indicator plots a Pressure Zone by drawing a rectangle to surround the overlapping tails Bullish Pressure Zones and bearish Pressure Zones are distinguished by their colours Parameters Input Field Remarks Overlap Filter Color of Pressure Zones Table 4-11 www.tradingsetupsreview.com 25 Chapter – Price Pattern Tools Display Input Field Remarks Bearish Zone Color Color of bearish Pressure Zones Bullish Zone Color Color of bullish Pressure Zones Zone Opacity Opacity of all Pressure Zones is transparent and 10 is opaque Table 4-12 4.5.3 - How to Use The setup bar is not static Start looking for setups after a Pressure Zone forms Use bullish bars for bullish Pressure Zone setups, and bearish bars for bearish Pressure Zone setups Refer to Volume III Chapter of the eBook series for details Advanced For the Market Analyzer and using the indicator within another indicator or strategy, the following state is exposed Pressure Value Meaning Default Bullish Pressure Zone -1 Bearish Pressure Zone Table 4-13 www.tradingsetupsreview.com 26 ... www.tradingsetupsreview.com vi Chapter – Introduction This is a guide to using the ? ?Day Trading with Price Action? ?? indicators This version consists of the following indicators: Trading Tools Price. .. Website: http://www.tradingsetupsreview.com Email: galenwoods@tradingsetupsreview.com www.tradingsetupsreview.com ii Disclaimer The information provided within the Day Trading with Price Action eBook.. .Day Trading with Price Action Indicator Manual Galen Woods Trading Setups Review Copyright © 2014 Galen Woods NinjaTrader Edition (Version 1.0) Cover Design by Beverley S www.tradingsetupsreview.com