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DARVAS

BRIEF DESCRIPTION DARVAS ADD-ON

WARNING! Dear customers, before you start working with the Darvas workspace and indicators, we ask that you read these instructions thoroughly before modifying any settings. The Darvas Add-On is an advanced tool that contains a large number of settings and parameters – incorrect settings made due to “curiosity” may lead to undesired behavior.

IMPORTANT! You can carry out any changes you want in the indicator settings; however, we strongly recommend that you only touch the parameters with which you are familiar. The Darvas Add-On is designed for End-of-Day trading, since the original trading strategy was not developed for intraday trading. You can use the trading signals in every timeframe, but you must be aware that the trading strategy is not optimized for this. Wishing you much success in trading with the Darvas Add-On Your AgenaTrader support team.

INSTRUCTIONS PACKAGE INSTALLATION

• After making your purchase, you will receive the following file sent to you by email:

  • DarvasStandardPackage.atpack / DarvasProfessionalPackage.atpack: this file is the actual package including all components contained within.

ATTENTION! If you are using Internet Explorer or Microsoft Edge, the .atpack file may automatically be renamed as a zip file by your browser. After downloading, therefore, you need to rename the DarvasStandardPackage.zip /DarvasProfessionalPackage.zip to DarvasStandardPackage.atpack / DarvasProfessionalPackage.atpack!

• Save the .atpack file on your hard drive.

• Now you still need to enter your license for the package in AgenaTrader. To do so, click on the symbol with the question mark, select About -> Enter activation key, then navigate to “DarvasStandardPackage” / “DarvasProfessionalPackage” and enter your activation key, which you received via email. Click on “Activate”. Once you see the message that your license has been successfully activated, close this window.

• Open Tools->Packages->Import package, read the subsequent backup information and, if you have already carried out a backup, click on OK. In the next window, navigate to the storage location of the DarvasStandardPackage.atpack file, click on it and then select “Open”. Confirm the request to restart AgenaTrader by clicking on “OK”.

• After restarting, the first step is to establish a connection to the data feed.

• Once you have established a connection to your data feed, select Main -> Workspace -> DarvasStandard / DarvasProfessional to load theDarvas workspace. As soon as all charts are fully loaded, the DarvasStandardPackage is completely ready for use.

Standard ADD-ON

The DarvasStandardAddOn offers great support if you wish to implement Nicolas Darvas’ famous signals semi or fully automatically. However, in order to enable pre-filtering of the values according to Darvas’ logic as well as for the PotentialDarvasBreakout signal, which predicts when a Darvas boundary will be broken through, you do need the DarvasProfessionalAddOn. Indicators:

• DarvasPro: This indicator is the evolution of the DarvasBox indicator that is contained in AgenaTrader by default. What has been improved is the underlying calculation, which has also been equipped with further data series so as to ensure optimal calculation of the signals. Furthermore, we have developed background coloring within the boxes in order to provide a better graphic display of the Darvas boxes. This background color is also the only parameter you can set in the DarvasPro. You can find details on setting up Darvas boxes and how these are constructed in the description of the old Darvas boxes – the logic of the box construction has remained the same: LINK

• ScriptedConditions

  • DarvasBreakout: The classic Darvas breakout signal arises when either the upper boundary of the Darvas box is broken in an upward direction (= long signal) or the lower boundary is broken in a downward direction (= short signal). In addition, the breakout must also have an aboveaverage volume, which suggests a strong movement and enough strength for a breakthrough with high momentum.

The parameters that you are able to set for these scripted conditions are the arrow colors of the signal markings, the arrow size and the basic display of the arrows.

• Stops

  • DarvasInitialStop: Darvas’ strategy is based on the fact that a successful signal should immediately be followed by a strong movement. This is why it is possible to place the initial stop very close with this strategy.The DarvasInitialStop is placed at a distance of exactly 0.5 x ATR(14) from the upper or lower Darvas boundary. This enables very good risk management, since a trade is quickly stopped out if the idea is not successful, meaning that the margin is rapidly freed up and you can immediately look for the next trade. On the other hand, a tight initial stop means that with a successful trade idea, you very quickly generate profit in your account and targets are rapidly reached.

  • DarvasStop:Just as in the original strategy by Nicolas Darvas, the DarvasStop is always trailed at the high/low of the current, confirmed (!) box. For a short trade, it is always the current, most recently confirmed upper boundary of the Darvas box that is used. For a long trade, vice versa; the lower boundary is used as a stop price.

• DarvasGhostStop With the DarvasGhostStop, the stop is trailed at so-called ghost boxes, which are a development from Daryl Guppy. This further development of the usual Darvas stop is intended to enable fast, tight trailing of the stop when it comes to market movements with great momentum. A ghost box is formed when the price breaks through a box boundary and the subsequent movement is so fast that for several bars, no new box can be generated. As soon as the price has run the length of the last box above the upper boundary (for long trades) or below the lower boundary (for short trades), the first ghost box is formed, which has exactly the same height as the last active and valid Darvas box. The stop is now trailed at the low (for long trades) or the high (for short trades) of the ghost box, making it possible to place the stop closer to the market. An unlimited number of ghost boxes can form one after the other; the stop is always trailed at the respective high/low of the ghost box, either until the trade is stopped out or a new, valid Darvas box is formed – then the stop is trailed at the high/low of the valid Darvas box.

Workspace

• DarvasStandard In this workspace, Darvas breakout signals are searched for in the 1Day and 1Week basis; the SP500 stock list is loaded by default. So as not to miss out on any notifications of breakout signals, the daily chart is screened for new signals every 5 minutes, and the weekly chart is screened every hour. Therefore, as soon as the market makes a breakout in the daily or weekly basis, the signal is immediately displayed and you can trade it! Only long signals are searched for in the DarvasLong LCG, and only short signals in the DarvasShort LCG.

Professional ADD-ON

The Darvas Professional Add-On provides you with optimal support when trading the famous Darvas strategy. From the fully-automated filtering of the instruments according to Darvas’ criteria, all the way to the signal search in the highly potential instruments, everything is integrated and prepared for you in the workspace.

Indicators:

• DarvasPro: See DARVAS STANDARD ADD-ON

• MoveSinceLastHighLow This indicator calculates the percentage of an instrument’s movement, measured by the high/low of the last x periods. In the parameter settings, under “Last high or low”, you can select whether the calculation should start from the last high or low. Here, the setting “Lookback period” determines how many bars should be used to detect the last highest high or lowest low. This indicator forms the basis for the filter conditions described in the following point.

Conditions

The following conditions use the MoveSinceLastHighLow indicator to measure the performance of an instrument. Depending on which value this indicator outputs, the respective condition is either “True” or “False”. These conditions are used in the form of filter conditions as an input for the AQConditionFilter to carry out the automatic sorting of the instruments. The names of the conditions here are self-explanatory. The following conditions are included in the DarvasProfessional Add-On:

• • SixtyToSeventyPercentUpmove

  • SeventyToEightyPercentUpmove

  • EightyToNinetyPercentUpmove

  • NinetyToHundredPercentUpmove

  • MoreThanHundredPercentUpmove

  • ThirtyToThirtyFivePercentDownmove

  • ThirtyFiveToFourtyPercentDownmove

  • FourtyToFourtyFivePercentDownmove

  • FourtyFiveToFiftyPercentDownmove

  • MoreThanFiftyPercentDownmove

You can build your own conditions exactly how you would like them, and you can then use these as an input for the ConditionFilter, so you do not have to use the pre-prepared conditions. With the MoveSinceLastHighLow indicator, for this purpose, you can query any performance value since the last highest high / lowest low and include these values in filter conditions.

• ScriptedConditions

  • PotentialDarvasBreakout The PotentialDarvasBreakout signal is outputted when a value runs right up next to the upper or lower Darvas boundary and, in addition, a confirmed Darvas box is also already present. This means that the signal comes earlier than the DarvasBreakout signal, which is only activated when the price actually exceeds the upper or lower boundary of the box. With the PotentialBreakout signal, you have the possibility to place your orders early on, meaning you no longer miss any top signals.

When you start the PotentialDarvasBreakout signal by double-clicking in the list, the entry order is placed directly at the boundary of the Darvas box, and once this is crossed, the trade is opened in accordance with Nicolas Darvas’ rules.

• • AQ ConditionFilter The AQConditionFilter serves to manage the automatic sorting of the values into the corresponding instrument lists. This is a separate product by our tech partner AlgoQuantics that has been integrated into the DarvasProfessional package. You can find a detailed description of this tool in the second attached description, which you should have received when you purchased the DarvasProfessional Add-On.

• Stops: Same stops as DarvasStandard

• Workspace

  • DarvasProfessional

    • Pre-prepared watch list: With the help of the pre-prepared watch list, you receive an excellent overview of all markets that interest you. From the current bid/ask, the volume, the daily performance, main and sub-sectors and the entire pre-screening to the AQConditionFilter, everything is processed and displayed in the watch list. Here, the Russell1000 is loaded as the default instrument list, but you can load any instrument list you like – depending on which instrument you would like to trade. The AQConditionFilters are loaded in the columns 60-70%, 70-80% etc. Whenever a green “1” appears in a column, the filter condition applies and the value is sorted into the instrument list of the same name. The green column “MoveSinceLastLow” measures the increase of the value since the lowest low of the past year. The value measured here is crucial for the sorting into the lists. If, for example, a value of 62.50 is outputted, the instrument will be sorted into the list 60-70%, and therefore the green “1” will also show up in the 60-70% Upmove column. For the red column “MoveSinceLastHigh”, the same thing goes but vice versa, i.e. here, the decrease since the highest high of the past year is measured and is again a decisive value for sorting the Downmove values.

• Fully automatic pre-screening

  • 60-70 % Upmove

  • 70-80 % Upmove

  • 80-90 % Upmove

  • 90-100 % Upmove

  • > 100 % Upmove

  • 30-35 % Downmove

  • 35-40 % Downmove

  • 40-45 % Downmove

  • 45-50 % Downmove

  • > 50 % Downmove

Upmove refers to a movement since the lowest low of the past year. Thus 60-70% Upmove means that all values that have increased their value by 60-70% since the lowest low of the past year are sorted into this list. The opposite goes for Downmove; here, the loss in value is established by the highest high of the past year. So all values that have lost 30-35% of their value since the highest high of the past year are sorted into the list 30-35% Downmove. This pre-sorting makes it possible to determine relatively strong and relatively weak stocks. In the strong values, the software searches only for long signals, and in the weak values, only short signals. Here, the Darvas strategy assumes that the behavior exhibited by a value up to the present moment will continue in the same direction, which is equivalent to a trend-following approach.

• ListChartGroups:

In the individual list chart groups that are set up in the workspace by default, therefore, the values are automatically sorted as described. Then, AT screens for the DarvasBreakout and the PotentialDarvasBreakout signal in the 1Day and 1Week basis directly in the LCGs. The third column in the list is the “MoveSinceLastLow” in the Upmove lists and the “MoveSinceLastHigh” in the Downmove lists, and therefore displays the same values as in the watch list described above.

To check the superior timeframe, which is located in the bottom right of the ListChartGroup. For additional orientation, the VolumeZoneOscillator is loaded here, with which extreme points in the chart are meant to be determined in order to support your analysis and check that the superior timeframe is not generating any countersignals. Each of the charts discussed has the prefabricated action bar loaded; in the signal and trading levels, in addition, there are also the two EntryEscort buttons “B” and “S”, with which you can enter the entire order construct including stop and targets for trading the volume signals with just one click. For this, you need the Andromeda version of AgenaTrader to be able to use the AT++ functions.

The settings of this setup look like this:

• InitialStop: BarByBar (3BarsBack)

• HardStop: BarByBar (2BarsBack)

• SoftStop: BarByBar (1BarBack)

• Target: Pivot2Levels

Here, again, we are talking about a suggestion that is supposed to give you an idea of how you could trade the volume signals. Obviously, you can modify and change this setup entirely according to your preferences.

Each ListChartGroup also includes a list containing an AnalyzerColumn column that screens according to the eight volume conditions. For the 15-minute lists, it screens for signals every 15 minutes; in the 1-hour lists, the AnalyzerColumns are set to 1 hour – this means that you no longer miss a single signal and can hand over all the screening work to AgenaTrader. In the volume column in the list, the currently traded volume is displayed, so that you can keep an eye on the instruments with the highest activity at all times.

The futures list also contains a column with the expiry dates of the futures, in which you can always check whether the correct contract date is set for every contract. Below the ListChartGroup, there are also two TickCharts including the TickSpeed indicator, which shows when the market exhibits particularly high activity, which can point to changes in the prevailing market direction. The left of the two tick charts is loaded with the DowJones30 values; the most important futures have been deposited into the right-hand tick chart – you can switch between these very simply by clicking on the descriptions beneath the chart. With this, you always have an overview of the most important markets. To finish off, the last component is the DepthOfMarket window including the Times&Sales list, loaded in the very bottom right of the workspace. Here you can enter any symbol, thereby additionally giving you a precise overview of the processes and the volume on the bid & ask side.

1.1.4. DESCRIPTION OF THE INDICATORS

1.1.4.1. VolumeSessionPro

This indicator is equivalent to the well-known VolumeProfile indicator with a display for a specific time span (session). You can determine the start time and the length of a session however you wish. For each session, the VolumeProfile is then shown. Use this indicator only in timeframes smaller than 1 day; the smaller the timeframe selected, the more detailed the display of the VolumeProfile. The price at which the most volume was traded in the respective session is shown as a red bar. The price area in which, for example, 70% of the trading activity for the respective session tookplace, is colored light blue. You can determine this percentage yourself as you wish under the parameter “ValueArea”.

Furthermore, you have four different options for displaying the volume information:

4.1.1. VOC (Volume on close): Loads the entire volume of a bar at the closing price of this bar – e.g. if a 5-minute bar has a volume of 280 and a range of 1.5 points with a closing price at 1534.25, all 280 volume units are counted at the closing price of 1534.24.

4.1.2. TPO (Time price opportunity): This method does not take the actual traded volume into account, but instead counts an individual volume unit for each price in the traded range of the bar – e.g. if a 5-minute bar has its high at 1534 and its low at 1532.5, then one volume unit is counted for each of the following prices: 1532.50, 1532.75, 1533.0, 1533.25, 1533.50, 1533.75, and 1534.

Figure 1-VolumeSessionPro

4.1.3. VWTPO (Volume weighted time price opportunity): This version distributes the traded volume of a bar across its price range – e.g. if a 5-minute bar exhibits a volume of 280 with a range of 1.5 points, with its high at 1534 and low at 1532.5, then 40 volume units (=280/7) are added to each of the seven prices in this range: 1532.50, 1532.75, 1533.0, 1533.25, 1533.50, 1533.75, and 1534.

4.1.4. VTPO (Volume time price opportunity): Here, the traded volume is added to each price of the range – e.g. if a 5-minute bar has 280 volume units, a range of 1.5 points with a high at 1534 and low at 1532.5, then 280 volume units are added to each of the seven prices of the range:: 1532.50, 1532.75, 1533.0, 1533.25, 1533.50, 1533.75, and 1534.

1.1.4.2. VolumeArea

Similarly, with this indicator you can also have your own volume profiles displayed. Here you can now determine the start and end time completely freely by clicking on your desired position. There are no restrictions as to where the calculation should start and end. In the upper right corner you have the setting options with which you can switch between the profile types (for a description of these, read more under VolumeSessionPro). With a click on the little red “+” under the profile settings, you can add a further volume profile to your chart; you do so by once again determining the start and end time by left-clicking. The settings and the display of the indicator are exactly equivalent to the VolumeSessionPro: via ProfileType you select which calculation method should be used; via ValueArea you determine the percentage for what portion of the volume area should be colored with the highest activity.

Figure 2-VolumeArea

The most effective way of working with the VolumeArea is to place this indicator in the action bar and assign it a hot key. In this way, if necessary, the indicator can be quickly called up and you can specify the desired volume area.

1.1.4.3. KlingerVolumeOscillator

The KlingerVolumeOscillator is a technical indicator that was developed by Stephen Klinger in order to determine long-term trends of the money flow. At the same time, the indicator is sensitive enough to also identify short-term fluctuations, thereby giving the trader the possibility to detect even short-term reversals in the market. The indicator compares the influent and effluent volume of an instrument with its price movements, and is outputted as an oscillator. A signal line (13-period moving average) is used for generating signals. Divergences in the KlingerVolumeOscillator in comparison to the price movement can also be used for entry and exit decisions. A bullish signal is formed when the KlingerVolumeOscillator start to rise while the price continues to fall; the opposite goes for a bearish signal.

Figure 3-KlingerVolumeOscillator

1.1.4.4. VolumeKeltnerChannels

The VolumeKeltnerChannels are a great tool to determine very high or very low volume in comparison to past periods. Beginning with an upper Keltner channel line calculated with volume data, this line is shifted ever further upwards or downwards using special multipliers. Volume that is higher than the highest Keltner channel line can be interpreted as extremely high volume that shows that huge numbers of trades have been carried out in the current price period and that an unusually large number of traders are buying or selling positions at the current price level.

Figure 4-VolumeKeltnerChannels

On the other hand, a volume smaller than the lowest Keltner channel line is an indication of particularly low activity during the current price period, and only unusually few traders are interested in buying or selling positions at the predominant price.

1.1.4.5. VolumeUDR

The VolumeUpDownRatio is the relationship between UpVolume and DownVolume, displayed as an oscillator. Volume is classified as UpVolume when the current close of the price candle is located above the close of the prior candle; the opposite applies for DownVolume. Values above 80 are to be graded as a bearish signal; values under 20 as a bullish signal. Besides this, a moving average can be shown, which can serve as an additional signal generator.

• Using “DrawCandleOutline”, you can have the border of your candles colored accordingly when bullish/bearish extreme values occur.

• PriceWeightChange regulates whether you would like to have the weighted change of the market price flow into the calculation of the indicator

Figure 5-VolumeUDR

1.1.4.6. VolumeTickSpeed

ATTENTION! You can only use this indicator in the tick chart! The indicator measures the number of ticks that are traded during a number of seconds defined by the user. You can set the number of seconds under the parameter “Period”. A high tick speed can, therefore, be equated with high trading intensity, which can in turn often be observed at turning points in the market. With the parameter “LimitValue”, you can specify from which number of ticks during the selected period the background should be colored in order to display extreme values.

Figure 6-VolumeTickSpeed

1.1.4.7. VolumeZoneOscillator

The VolumeZoneOscillator divides the volume activity into UpVolume and DownVolume, similarly to the VolumeUDR. Volume is ranked as UpVolume when the current closing price is located above the prior closing price; vice versa for DownVolume. The oscillator calculated hereby outputs relative percentage values. An instrument is in a positive trend when the VolumeZoneOscillator rises above a level of 5% and vice versa in a negative trend, when it falls below -5%. Values above 40% show overbought situations, while values above 60% are an indication for an extreme exaggeration in the market. On the other hand, values smaller than -40% are deemed oversold and values smaller than -60% to be classified as enormously oversold and exaggerated.

Figure 7-Volume Zone Oscillator

1.1.4.8. VolumeRiseFall

The VolumeRiseFall indicator is a normal volume display as volume bars, with, however, a different coloring than normal. A volume bar is drawn in green when the volume of this bar is higher than the volume of the previous bar, meaning that rising volume is present.

A volume bar is drawn in gray when the volume of this bar is lower than the volume of the previous bar, thereby showing falling volume.

Figure 8-VolumeRiseFall

1.1.4.9. WyckoffWave

The WyckoffWave indicator adds the volume for each following bar until a price wave is over / finished. You can set the sensitivity of the price waves. When the volume of a wave rises to particularly high values, is it very often because a turning point in the chart has been reached. When the volume bars are colored red, we are dealing with a short wave; green volume bars indicate a long wave. Using the parameter “MedianPeriod” you can select how sensitively the indicator should determine the individual price waves. The smaller the value, the larger the price waves that the indicator calculates. The parameter Poles serves to fine-tune the display of the volume waves; you can select a parameter between 1-4. Changing this value usually causes only imperceptible changes.

Figure 9-WaveVolume

1.1.4.10. VolumeGraph

This indicator contains a normal volume histogram, but here, the coloring takes place based on price trends. The VolumeGraph determines short- or long-term price trends; you can set the sensitivity for this using the parameter “SlopeLength”. A high value delivers long-term trends; low values represent short-term price trends. Using the setting “Exponential”, you can select whether the calculation for trend determination should be based on an exponential (=True) or linear (=False) algorithm. This is about the fine-tuning, and no large changes should be expected with this parameter. In addition, the volume histogram also contains a moving average, for which you can enter the period using the parameter “AvgLength”.

Figure 10-VolumeGraph

1.1.4.11. VolumeSentimentLong

This indicator detects bullish volume activity based on the analysis of the volume of a period, the price span of a bar and the close of the bar (=VolumeSpreadAnalysis). It screens for 3 signals (listed are the sub-criteria that must be met for the respective signal):

• SellingClimax (dark green)

6.11..1. Lowest low since 50 periods 6.11..2. Bar with large range 6.11..3. Extremely high volume

• DemandComingIn (lime green)

6.11..1. UpBar (current close larger than previous close) 6.11..2. Previous Bar: DownBar (close smaller than previous close) 6.11..3. Previous Bar: Bar with large range 6.11..4. Previous Bar: Above-average high volume

• BagHolding (light green)

6.11..1. Lowest low since 50 periods 6.11..2. DownBar 6.11..3. Bar with small range 6.11..4. Above-average high volume 6.11..5. Close larger than or equal to the middle of the bar

The VolumeSentiments provide the foundation for the calculation of the volume condition; see point 5. When a bullish VolumeSentiment occurs, the bar is colored in the respective color of the signal; you can change this color in the parameter settings.

Figure 11-VolumeSentimentsLong

1.1.4.12. VolumeSentimentShort

This indicator is the counterpart to the VolumeSentimentLong and detects bearish volume activity based on the analysis of the volume of a period, the price span of a bar and the close of the bar (=VolumeSpreadAnalysis). It screens for 3 signals (listed are the sub-criteria that must be met for the respective signal):

• BuyingClimax (dark red)

6.12..1. Highest high since 50 periods 6.12..2. Bar with large range 6.12..3. Extremely high volume

• SupplyComingIn (red)

6.12..1. DownBar 6.12..2. Previous Bar: UpBar 6.12..3. Previous Bar: Bar with large range 6.12..4.Previous Bar: Above-average high volume

• EndOfRisingMarket (coral)

6.12..1. Highest high since 50 periods 6.12..2. UpBar 6.12..3. Bar with small range 6.12..4.Above-average high volume 6.12..5.Close smaller than or equal the middle of the bar

The VolumeSentiments provide the foundation for the calculation of the volume conditions; see point 5. When a bearish VolumeSentiment occurs, the bar is colored in the respective color of the signal; you can change this color in the parameter settings.

Figure 12-VolumeSentimentsShort

1.1.5. DESCRIPTION OF THE CONDITIONS

Volume signals should generally not be traded with market orders immediately, but instead one should wait for a confirmation of the signal with stop orders at the high or low of the signal candle. You should avoid trading long signals in downwards trend if at all possible; conversely, we advise you not to trade short signals in upwards trends. The basis for the long signals are the VolumeSentimentsLong; in order for a long signal to occur, a VolumeSentimentLong must have occurred during the last 50 bars; the opposite is true for short signals with the VolumeSentimentsShort.

The signals are based on the VolumeSpread analysis; the principle of this theory states that strength in the market becomes visible in DownBars (a bar that closes lower than the previous bar), and that weakness can be recognized in UpBars (a bar that closes higher than the previous bar). For this, certain conditions regarding the volume, the range of the bar and the position of the closing price must be fulfilled. The conditions can, in general, be applies in all timeframes, but application only makes sense for values for which there is sufficient volume information. For Forex values, therefore, the conditions are not applicable.

1.1.5.1. Long_NoSupply

• UpBar

• Volume larger than volume of the previous bar

• Previous Bar: DownBar

• Previous Bar: Small range

• Previous Bar: Below-average volume

• Previous Bar: Volume smaller than the two previous periods

A NoDemand bar has the largest hit probability when it is in the range of a previous long sentiment with very high volume. The market will very likely not be in a position to break through the VolumeSentiment signal in the opposite direction with the current low volume. NoDemand shows that there is currently no interest in lower prices.

1.1.5.2. Long_StoppingVolume

• UpBar

• Very low volume

• Previous Bar: DownBar

• Previous Bar: Bar with small range

• Previous Bar: Very high volume

Stopping Volume means that after a bar with high volume, the direction cannot be continued. If the high volume were to consist exclusively of sell orders, then the next period would be unable to close higher i.e. the sell direction would have to continue. There would, therefore, have to have been many buy orders included in the high volume, meaning that there is increasing interest in higher prices or at least no more interest in lower prices.

1.1.5.3. Long_TestBar

• DownBar

• Bar with small range

• Very small volume

• Volume smaller than that of the previous period

Professional traders will only open large buy positions in a market when they can be relatively sure that the market is not yet full of sellers. One way of checking this is to drive the market slightly downwards, which is supposed to cause the potential sellers to react to the small short movements. If, despite a sinking of the price, only very low volume with very low price range can be observed, this is an indication that there is no strong pressure to sell weighing on the market – according to this, the test has had a positive outcome and the professional traders are now ready to open their long positions. With this signal, too, it is very clear to see that the future strength of a market can be observed in DownBars.

1.1.5.4. Long_TwoBarReversal

• UpBar

• Range of the bar average to high

• Close of the bar near to the high

• Above-average high volume of the current or previous period

• Close above the high of the previous period

• Previous Bar: DownBar

• Previous Bar: average to high range

A TwoBarReversal optimally occurs at support zones. One of the two bars of the TwoBarReversal has to exhibit above-average high volume, which can be interpreted as high activity of the market participants at the current price level. The second bar changes the market direction, thereby clearly insinuating that the market participants currently have no interest in lower prices.

1.1.5.5. Short_UpThrust

• Highest high since 50 periods

• UpBar

• Close near to the low

• Average or large range of the bar

• Very high volume

Commonly, markets react negatively when a new high with very high volume is reached; it is precisely these situations that are searched for here.

Attention! If the market continues to climb further after an upthrust, this is a clear long signal.

1.1.5.6. Short_HiddenUpthrust

Same logic as the upthrust; however, here, the new high is achieved with a DownBar. For details, see point 5.5.

1.1.5.7. Short_NoDemand

• DownBar

• Volume larger than volume of the previous bar

• Previous Bar: UpBar

• Previous Bar: Small range

• Previous Bar: Below-average volume

• Previous Bar: Volume smaller than for the two previous periods

A NoDemand bar has the largest hit probability when it is in the range of a previous short sentiment with very high volume. The market will very likely not be in a position to break through the VolumeSentiment signal in the opposite direction with the current low volume. NoDemand shows that there is currently no interest in higher prices.

1.1.5.8. Short_TwoBarReversal

• DownBar

• Range of the bar average to high

• Close of the bar near to the low

• Above-average high volume of the current of previous period

• Close below the low of the previous period

• Previous Bar: UpBar

• Previous Bar: Average to high range

A TwoBarReversal optimally occurs at resistance zones. One of the two bars of the TwoBarReversal has to exhibit above-average high volume, which can be interpreted as high activity of the market participants at the current price level. The second bar changes the market direction, thereby clearly

MT on live signal

BRIEF DESCRIPTION OF THE ON PACKAGE

Warning! Dear customers, before you start working with the ON workspace and indicators, we ask that you read these instructions thoroughly before modifying any settings. The ON-Addon is an advanced tool that contains many settings and parameters – incorrect settings made due to “curiosity” may lead to undesired results. IMPORTANT! The ON-indicators in general operates with all kinds of charts, the relevant upper trend size = Grosswetterlage (GWL) needs a time-based chart. The ON-Addon is based on real-time, not on closing prices. In each timeframe, the package displays the relevant trend in the signal size as well its upper timeframe. Different trend sizes are generated with a change of the time frame.

You are free to carry out any and all changes; however, we recommend that you only touch those setting which you are already familiar with. Please ensure to use identical values at “Bars required" in the Chart and in ListChartGroups.

INSTRUCTIONS FOR PACKAGE-INSTALLATION

• After the purchase, you receive the MTOnLiveSignal.atpack by email: this file is the actual package including all components contained within. ATTENTION! If you are using InternetExplorer or MicrosoftEdge, the browser automatically converts the atpack file to a .zip-file. After the download you therefore have to rename the MTOnLiveSignal.zip to MTOnLiveSignal.atpack!

• Save the .atpack file on your hard drive.

• We now still need to enter our license for the package in AgenaTrader. For this, click on the symbol with the question mark, select About -> Entering Activation Key, navigate to “MTOnLiveSignal” and enter your activation key that you have received by email. Click on “Activate”. Once you receive the notice that your license has been successfully activated, close this window.

• Now open Tools -> Packages -> Import Package, read the following backup information and if you have already carried out a backup, click on OK. In the next window, navigate to the storage location of the MTOnLiveSignal.atpack file, click on it and select “Open”. Confirm the Agena restart request with OK so that your AgenaTrader can be restarted.

• After the restart, the first step is to establish a connection to your data feed.

• As soon as you have established a connection to your data feed, select Main -> Workspace -> ON – markttechniktrading.de to load the ON workspace. As soon as all charts are completely loaded, the ON-Package is fully ready to go.

CONTENT MT ON LIVE SIGNAL (ON) - ADDON

The Market Technical Trading illustrates the current supply-/demand-situation in the form of trends. At this it is critical to consider two associated trend sizes: The signal size, in which you are trading, and the GWL, the relevant upper trend size. For that reason, the ON-Addon always considers the situation in the signal size as well as in the GWL. The assignment of the appropriate trend sizes is not governed by an individual perception, but A) a specialized, professional derivation and B ) by the definition of Spot & Future markets and the connection between them. Ultimately the Futures Market is the hour of birth of the Market Technical Trading.

Since the ON-Addon only needs one time frame to display the trend in both the signal size & the GWL, using AgenaTrader in combination with the new ON-Addon is an extremely efficient way to work and to carry out your analyses. The package masters trading the trend as well as movements, including appropriate stop management (cf. “PREDEFINED SETUPS”).

To bring your attention to particularly interesting constellations and possible entries directly in the chart, the ON-Addon can use different flash techniques. With that you stay on top of even very dynamical market situations and lose no chances.

The package is also capable of recognizing and displaying opposite signals in the signal size as well the GWL – you always stay on top of present market events, independent of their complexity or constellations. Another specialty is the resumption of temporary broken trends in case of their renewed validity. That ensures a so far unmatched closeness to the market that won’t let you miss any trend.

The traffic lights concept of the TradingZone offers a further optical aid in the signal size and GWL. In its overall height, it represents the last correction zone of a valid trend and additionally symbolizes via its color gradient from Red to Green the actual correction-depth/-height. The used traffic lights concept simplifies the orientation during the trading of corrections as the attractivity of any given correction is visible at a glance.

To make trading and analyses using the ON-data as simple and intuitive as possible, the ON-Addon contains the following components:

• ON-Workspace for an effective working- and trading-style

• ON-Indikatoren for the Market Technical Trading

  • ON123Pro

  • ONMarketPhasesPro

  • InsideBarsON

• ON-Conditons for easier execution of your trading

  • Screening

    • ONGwlPhase

    • ONSigPremium

    • ONSigSecond

  • Trading

    • ONDeepReversal

    • ONDeep

    • ONReversal

    • ONEarlyBird

  • Additional-Condition: ONReversalBar

• Predefined Setups for semiautomatic ON-Trading

1.1.1. ON–WORKSPACE

Figure 1 - ON-Workspace

The following content is predefined in the ON-Workspace:

1.1 Tabs: Appropriate to a proper work style the workspace is segmented in SCREENER- and Watchlist-Tabs. Due to the used small time frames and the consequent high trading-/signal-frequency the Intraday-Tab is not further segmented in Screener & Watchlist. Within the SCREENERS instruments are scanned for valid trends in signal size and GWL. Instruments that raise your attention and additionally are marked with two identical colored signals (Green=Long or Red=Short) can be added to corresponding watchlists by a mouse click on the respective Actionbar-Button. The successful implementation is displayed by a red coloring of the corresponding Watchlist-Button.

1.2 Instrument lists Intraday, 10min-Watchlist, Stunde-Watchlist, Tag-Watchlist, ON SCREENER STUNDE 10min, ON SCREENER TAG Stunde, ON SCREENER WOCHE Tag including indicators. You can pull up these preset indicators to carry out analyses for all asset classes and markets.

The following components are available in the ON GWL+Sig-template (the further Template„ON GWL“ is not including the signal size):

• Trading Chart

  • GWL+SIG: Display of signal size and GWL

  • PHASE: Display of trend direction, -phases & depth of correction

• Relevant upper chart

  • SIG: Display of signal size

• Actionbar

  • Tag-Watchlist

  • Stunde-Watchlist

  • 10min-Watchlist

  • Buy/Sell onmove: Initial- and HardTrail-Stop = ONBewegungsstop

  • Buy/Sell ONP3: Initial- and HardTrail-Stop = ONP3Stop

  • Buy/Sell ONP3 (Fake): s. a.*

  • Buy/Sell ONP3 (Fake & Close / Tolerance): s. a.*

  • Buy/Sell ONP3 (Fake & Tolerance): s. a.*

  • GWL+SIG+Boxes

  • GWL+SIG

  • GWL

  • SIG

  • PHASE

  • InsideBarsON

    • Following Options only for User of the Add-In “Professional Unsharpness”

  • Fake - GWL+SIG+Faketrends

  • Close+Tol - GWL+SIG+Faketrends+Min(Close v Tolerance)

  • Tol - GWL+SIG+Faketrends+Tolerance

  • MP-Fake – PHASES+Faketrends

  • MP-Close+Tol – PHASES+Faketrends+Min(Close v Tolerance)

  • MP-Tol – PHASES+Faketrends+Tolerance

1.3 Scanner-Templates with useful information

Available templates are divided in three groups:

• SCREENER

  • WOCHE Tag

  • TAG Stunde

  • STUNDE 10min

• Watchlist

  • Tag

  • Stunde

  • 10min

• Intraday

1.1.2. ON-INDICATORS

2.1 ON123Pro This indicator is the core of the ON-Addon, that can display the high performing trend detection of the signal size as well the GWL. Herein you find the specialty of the ON-Addon – you only need one timeframe to automatically display both corresponding trend sizes of signal size and GWL. That is saving PC-resources, accelerates screenings and reduces sources of error – as e. g. the skipping of trend sizes. Please pay attention to the therefore firmly mapped assignment of signal sizes and GWL in the ON-Addon, compliant with the classic four trend sizes of Market Technical Trading:

Trend size	Signal size	GWL
Smallest	< 5 Minutes	10 Minutes
Small	>= 5 Minutes	Hour
Medium	Hour	Day
Big	Day	Week

The following options are available for the ON123Pro:

• Show 123s: Display P1-P3

• ShowTradingZone: Display TradingZone

• DrawLines: Display trend lines

• ShowToleranceZone*:Display ToleranceZone

• ShowFakeTrends*: Display & Consideration of Faketrends

• UpTrend color: Color trend lines uptrend

• DownTrend color: Color trend lines downtrend

• NoTrend color: Color trend lines no trend

• History Color Uptrend: Color historical trend lines uptrend

• History Color Downtrend: Color historical trend lines downtrend

• History Color NoTrend: Color historical trend lines no trend

• History Color Faketrends*: Color historical trend lines Faketrends

• Text color: Color P1-P3

• Schriftgroesse: Font size P1-P3

• Linienstaerke: Thickness trend lines

• Linienart: Style trend lines

• Lineart Faketrends*: Style trend lines Faketrends

• BlinkType: Choice of BlinkType during interesting chart constellations and possible entries directly in the chart

• TradingZoneTransparency: Transparency TradingZone

• ToleranceZoneTransparency*: Transparency ToleranceZone

• HistoryMode: Choice of displaying invalid historical trend lines

• GwlBoxes (only @Grosswetterlage)

  • ShowGwlBars: Display GWL-timeframe & -direction in the form of boxes

  • UpColor: Color during uptrend

  • DownColor: Color during downtrend

  • HistoryColor: Color during invalid historical trends

  • Transparency: Transparency boxes

• GwlPeriode (only @Grosswetterlage and solely for visualization within charts)

  • Day: Assignment of aGWL

  • Hour: Assignment of aGWL

  • >=5 Minutes: Assignment of a GWL

  • <5 Minutes: Assignment of a GWL

  • Seconds: Assignment of aGWL

  • Ticks: Assignment of a GWL

The following parameters are available for the ON123Pro:

• OutputTimeFrame: Choice of Trendsize

• Placeholder UNSCHÄRFE SIG:

• Trendbreak on Close*: Activation Unsharpness: Trendbreak only @Close

• Faketrend Filter*: Aktivation Unsharpness: Faketrends

• Tolerance Factor*: Aktivation Unsharpness: Tolerance (0-2x)

• Trigger all selected filter*: Activation Unsharpness: AND correlation Unsharpnessn

• Placeholder UNSCHÄRFE GWL:

• Trendbreak on Close*: Aktiviation Unsharpness: Trendbreak only @Close

• Faketrend Filter*: AktivationUnsharpness: Faketrends

• Tolerance Factor*: Aktiviation Unsharpness: Tolerance (0-2x)

• Trigger all selected filter*: Activation Unsharpness: AND correlation Unsharpnessn

Figure 2 – ON123Pro Indicator

2.2 ONMarketPhasesPro

This indicator displays the current trend directions & -phases as well as the respective depth of correction of signal size and GWL, including graphical illustration of the phases.

The following parameters are available for the ONMarketPhasesPro

• OutputTimeFrame: Choice of Trendsize

• Placeholder UNSCHÄRFE SIG:

• Trendbreak on Close*: Aktiviation Unsharpness: Trendbreak only @Close

• Faketrend Filter*: Aktivation Unsharpness: Faketrends

• Tolerance Factor*: Aktivation Unsharpness: Tolerance (0-2x)

• Trigger all selected filter*: Aktivation Unsharpness: AND correlation Unsharp.

• Placeholder UNSCHÄRFE GWL:

• Trendbreak on Close*: Aktiviation Unsharpness: Trendbreak only @Close

• Faketrend Filter*: AktivationUnsharpness: Faketrends

• Tolerance Factor*: Aktiviation Unsharpness: Tolerance (0-2x)

• Trigger all selected filter*: Aktivation Unsharpness: AND correlation Unsharpness

Explanation of the different Phases of the ON123MarketPhasesPro:

• Phase 1: Undefined Trend

• Phase 2: Arising Trend

• Phase 3: Trend beyond P2

• Phase 4: Trend in Correction

• Phase 5: Trend in Correction, but in P2-Direction

  • 5.0: No deep Correction

  • 5.1: Deep Correction

  • 5.2: Prom Queen (Trends in GWL & Sig): No deep Correction

  • 5.3: Prom Queen (Trends in GWL & Sig): Deep Correction

• Phase 6: Trend in Correction, but in P2-Direction & just before P2-Breakthrough

• Phase 7: Trend beyond P2 (min. 2 P3s)

• Phase 8: Broken Trend

• Phase 9: Trendreversal

Figure 3 – ONMarketPhasesPro Indicator

2.3 InsideBarsON This indicator visualizes present inside bars.

The following parameters are available for the InsideBarsON:

• Parameters

  • Tolerance unit: Choice of tolerance unit

  • Tolerance value: Choice of tolerance value

• Visual Parameters

  • Color: Choice of background color of inside bars

  • Opacity: Choice of opacity of background color

Figure 4 –InsideBarsON Indicator

1.1.3. ON-CONDITIONS

Scripted Conditions include diverse requirements, which are validated by the PC. Please refer to the recorded descriptions within AgenaTrader for all factored in qualifications per condition.

3.1 Screening-Conditions These conditions serve the market screening process and illustrate at a glance present interesting market situations, which are represented by parallel valid trends in signal size as well GWL (cf. ON-Workspace):

• ONGwlPhase

• ONSigPremium

• ONSigSecond

3.2 Trading-Conditions These conditions are used in the Trade-column and signalize definite entries, which are displayed as proposal directly in the chart by a mouse click:

• ONDeepReversal: Upper Trend & Signal Trend & Deep Correction & Reversal Bar

• ONDeep: Upper Trend & Signal Trend & Deep Correction

• ONReversal: Upper Trend & Signal Trend & Reversal Bar

• ONEarlyBird: Signal occurs if a P2-breach is imminent

Following conditions do not represent explicit entry-signals, but ReversalBars, which serve within the aforementioned Reversal-conditions:

• ONReversalBar

1.1.4. PREDEFINED SETUPS

Setups for the semiautomatic trading are included, which enable you to conduct a proper Market Technical Trading by just one mouse klick. In case of an existing spread that is automatically considered. You can deactivate that functionality or switch to “bid”, respectively “ask” – depending on your data feed. The stop position is changed in real-time, hence on a tick by tick basis.

4.1 Trend trading: The Trading-Conditions (except for the Reversal-condition), as well as the mapped ONP3-Buttons within the Actionbar, use the corresponding P3 as Trailing-Stop with the following configuration:

• InitialStop: ONP3Stop_Spread

• HardStop: ONP3Stop_Spread

• SoftStop: InitialStopOnly

• Targets: NoTarget

4.2 Movement trading: The mapped onmove-Buttons within the Actionbar as well as the Reversal-condition use the InsideBars as Trailing-Stop with the following configuration:

• InitialStop: ONBewegungsstop_Spread

• HardStop: ONBewegungsstop_Spread (InitialStopOnly)

• SoftStop: InitialStopOnly (ONBewegungsstop_Spread)

• Targets: NoTarget