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Luckshury

@Luckshuryy

Aug 2, 2023 • 10 tweets • 3 min read • Read on X

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Dynamic Profile Tool (fixed range) 👨‍💻

🧵 Thread

in this thread, I will cover the following:

- my settings
- use cases of the dynamic profile tool
- differences between this and TV
- specific nuances

Tradingview vs Exo

Tradingview's Fixed range tool and Exo charts dynamic profile tool are quite different.

Exocharts dynamic profile tool has more capabilities.

TV's fixed range tool simply provides you with volume data whereas Exo can provide:

OI data
Buys vs Sells
& more

My settings:

I prefer to use the OI cluster type within my dynamic profile tool.

Typically im only using this to find where NEW positions have been opening rather than ones that have closed out.

Trending moves:

OI/new position spikes in trending moves can be extremely useful in determining trend strength/weakness

If we have a bullish trending move and can decipher where the most longs are opening within that trend, we can then use that as a strong reference point.

Info box:

This info table can provide some extremely useful statistics in particular the following 2:

- Net change in OI (Open Interest)
- CVD

With a single dynamic profile pull, you can know what the majority are siding towards through those 2 figures.

+ CVD w + OI = New Longs
+ CVD w - OI = Shorts Closing
- CVD w + OI = New Shorts
- CVD w - OI = Longs Closing

The visual profile tells me at which price point those majorities are coming in, to use as key s/r levels

Ranges:

Now you know where the majority are sided you can anticipate potential fakeouts of a range based on this data

ie - if we have a build-up of new longs within a range a possible move down to stop them out before moving up would be my preferred scenario.

Further tip:

text type - my preferred is short vs long (new)

I use this tool to mainly identify key s/r levels within a certain trend or recognize what the majority are sided towards within a range.

To use this tool to its fullest you must know how to pull a regular fixed-range tool

(Free video about this on my Youtube)

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More from @Luckshuryy

Luckshury

@Luckshuryy

Dec 5

entry triggers: a complete guide

a thread 🧵

fading breakout traders:

open interest increases upon a key level being breached, followed by a sharp reversal putting those new positions offside.

when new positions are forced offside it creates fuel for reversion as they are forced out thus trading in the opposite direction.

liquidation flushes:

flushes often creates inefficiencies in price, which tend to fill quickly.

longs liquidated in a flush often create a big wick. I trade towards the wick for at minimum a 50% fill.

good for volatile environments towards the end of a big move.

stop positioning in my system would be above the point in which new shorts began entering as if they get caught offside that would revert price.

example ↓

Read 6 tweets

Luckshury

@Luckshuryy

Nov 21

open interest: a complete guide

a thread 🧵

what is open interest?

total number of outstanding derivative contracts not yet settled.

for every buy there is a sell, but not every buy is a new long and not every sell is a new short.

short close = buy
long close = sell

open interest increases when both sides are opening.

open interest indicator:

when plotted as an indicator below price its particularly helpful for spotting:

> new traders becoming offside
> traders opening positions early
> positional squeezes

more importantly, when watching key areas, watching how open interest reacts as you probe certain levels, such as range highs/lows.

one of my favourites is watching new positions rapidly join in minor bounces as price is in free fall, you see them instantly regret this as momentum continues against them and are forced to close.

example ↓

Read 6 tweets

Luckshury

@Luckshuryy

Oct 10

market microstructure (liquidity)

how markets move...

a thread 🧵

market/limit orders:

the market moves solely based on events not time.

market order (taker)
limit order (maker)

stop orders/triggers → triggered at market and most of the time forced with someone being forced out the market (stopped out).

note - pattern/breakout traders in general can also use trigger orders to buy/sell the breakout.

footprint charts:

displays ONLY market orders.

most common setups is to see market sells on the left with market buys on the right → bid-ask profile

I find footprints the best for spotting absorption or exhaustion in the markets as they display already transacted data.

i.e when you see lots of sell orders at the same price level without price able to budge it is sufficient evidence to say limits are holding up price.

footprints do not have to be shown on time based charts only either, they are extremely useful when monitoring volume charts, delta charts or range bars, in particular on lower time frame equivalents.

tldr: footprints show a record of already transacted orders, unlike heatmaps displaying resting orders, which have the ability to be pulled/added to.

Read 8 tweets

Luckshury

@Luckshuryy

Sep 26

absorption (simplified)

a thread 🧵

what is absorption?

when market orders cannot bypass limit orders you get absorption.

how you spot this is NOT through watching resting limits in the orderbook, but tracking the level of market order aggression at various stages.

CVD explained:

cumulative volume delta.

tracks buying/selling pressure over time, this allows for easy comparison between pivots.

it can be displayed as a line, candlesticks, or straight up values.

Read 8 tweets

Luckshury

@Luckshuryy

Sep 16

market structure (breaks & failures)

a thread 🧵

basics of structure:

at every origin of new structure is a swing point, either a swing high or low.

you can identify swing points easier through the use of 'williams fractal' indicator on tradingview.

confirmed breaks in structure:

sustained time spent above swing point (bullish break) without the ability for price to swiftly come back below the level.

market aggressor participants should still be active and quickly push price into an imbalanced state (trending).

I don't want to see CLOSES back below the level, especially when the delta is heavily against the break of structure.

Read 7 tweets

Luckshury

@Luckshuryy

Sep 4

fair value gaps (imbalances)

a thread 🧵

also known as:

- single prints
- gaps

the naming is meaningless, the core fundamental behind it is that there is a piece of price which price moved quickly through (one candle), relative to the time frame you look at.

first touches:

when price initially revisits this void it can act as a level where:

1. stops are triggered
2. traders attempt to trader for the fill (anticipate a move)

the edge then comes from being able to spot these traders at this initial touch and fade them.

Read 8 tweets

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