Moving to PVSRA - Tools & Terms
Posted: Mon Jul 25, 2022 11:05 am
Good day everyone. I'm hoping that this thread will help persons to make the move to PVSRA easier. I'm going to review terms that I've seen, and include information about my personal move. I'll add to this as things progress.
Would like admins to advise if I'm free to make some outside links to various tools mentioned below. Otherwise I'll just talk about them and members can search for themselves.
For the admins, please feel free to correct any areas that I've made mistakes - add on - explain. Thanks in advance for indulging.
WHAT IS PVSRA?
All of that should be covered here.
viewforum.php?f=7
IMO - this is a trading strategy focused on the items in the name. Price - Volume - Support - Resistance - Analysis.
Price - I take to be price action - in terms of what price is currently doing. Where price is on the chart in the larger picture (higher time-frames) and where it is now relative to various items (S/R / Levels).
Volume - This is something that I've not fully understood. I take this to mean the number of orders that have pushed price in one direction or another. This is seen at the bottom of the PVSRA template and has a "grayish" look normally - but can be red, green, purple or blue. I'm still learning this so I'm not sure what the different colors mean, but I assume it has to do with the number of orders at that particular time which then would push price one way or another. From what I've seen though....
[*]"Grayish" - Normal price movement - minimal volume.
Four situations below edited by Tah:
[*]Red - Bear candle push on relative high activity
[*]Purple - Bear candle of relative high activity but without major movement (MMs concentrate on filling orders, but they can be either bull or bear initiated!)
[*]Green - Bull candle push on relative high activity
[*]Blue - Bull candle of relative high activity but without major movement (MMs concentrate on filling orders, but they can be either bull or bear initiated!)
Again - I'm not 100% sure about my analysis of things at this time, but I'm not very sure about the blue or "grayish" volume indicators. The purple I've seen after certain pushes, and even if the market continues in that direction, it hesitates or stabilizes a bit at that purple volume bar and candle before moving again.
The idea or premise behind PVSRA that I've seen thus far is pretty simple, but complex in another way. It's always like that with trading where a simple statement can have a lot of meaning. So PVSRA is more of a trend following system - short term preferred - where at least 20 pips are more likely to be acquired. I say "more likely" instead of "guaranteed" because this is Forex. I should say it like "THIS IS SPARTA!!!!" and be like "THIS IS FOREX!!!" if you get my drift.
Personally, I've seen market manipulation. I've seen where medium and high impact news (orange and red) have done absolutely nothing to the market. I've seen where no news release came out - not even related news - and the market surges in one direction or another. I've seen where IMMEDIATELY as news comes out the market surges. I've seen where high impact news comes out and it takes 30-90 minutes for the market to react. As a retail trader - you cannot tell what the market makers will do. It's best to acquire an "edge" against these crooks and ride the wave. Will get into that later on.
TERMS
There's a lot of different terms used in PVSRA. I'll try to define the most common ones here and throw in a few others that I've seen.
PVSRA - What this site is about. Price. Volume. Support. Resistance. Analysis.
HTMRW - How The Market Really Works.
TVT20 - "Trend Validated Trade for 20 pips (MOL)" - where MOL means "More Or Less".
FIFO - First In First Out according to brokers - Fast In Fast Out based on this site's usage.
LS - London Session.
AS - Asian Session.
NYS - New York Session.
EP - Entry Point / Entry Position.
PA - Price Action.
TP - Take Profit.
SL - Stop Loss.
MM - Market Makers.
PA - Price Action.
QT - Quarter's Theory.
More will be added as things go along.
TOOLS
Within all of this I've come across a lot of tools that I've used before coming to PVSRA. I'll cover them in case you want to get.
TIME ZONE MANAGEMENT - NEWS
This is something that I used previously. With PVSRA it's not needed as much. Two tools would be QLOCK and SHARP WORLD CLOCK. The former is small and fairly cheap. They have a free version that works, but support is kinda lax. The latter is FAR better IMO and has a "scheduler" which allows you to see what time it will be in your zone when it's a certain time elsewhere.
Sites like ForexFactory and MyFXBook have tools to show when news is coming out in your own time zone - so those tools aren't needed as much. It's more for cases where you literally have meetings planned with persons in different time zones.
PVSRA removes the need to visit any of the websites by showing upcoming news for the pair you're on right at the bottom of the indicator window. Very convenient. No need for the other tools.
SCREENSHOTS
Persons have spoken about GREENSHOT and SNAGIT - both are awesome tools. GREENSHOT is totally free while SNAGIT is not. While the free tool is very good, it sometimes falls short when it comes to capturing your specific screen information, and it also doesn't do scrolling screenshots very well.
Exporting to a picture is easy from within MT4 and doesn't require any third-party application. Editing however, is where both of the tools mentioned above will shine.
For specifically editing your pictures - I recommend PAINT.NET as the tool to use. Search for them because the website is not "paint.net" - and you may get something undesired from going to "paint.net" instead of searching.
PDN (Paint.NET / Paint Dot Net) is an awesome tool for editing your screenshots and adding information. Great for blurring information if needed or adding text/information to a chart before posting it.
PVSRA vs OTHERS
I think I said it before - I've been using a "bastardized" version of a number of things. Namely...
[*]BTMM
[*]Price Action
[*]S/R Trading
[*]Quarter's Theory
[*]Harmonics
[*]ADR
[*]TDI
That's not even everything. But the ones that I found to make more sense are those above. Here's how.
[*]BTMM - Showed that the markets can be unpredictable due to MMs. Seems to me to be a mix of PA and QT. Seems to me to focus more on reversals.
[*]Price Action - Showed that price reacts a certain way and paints patterns on the chart that can help you determine trends and reversals.
[*]S/R Trading - Showed that price will respect certain levels - but some of the levels are skewed...
[*]Quarter's Theory - Gave more insight into the S/R levels and how to read where price bounces/hesitates more easily.
[*]Harmonics - An interesting view of how certain price patterns may signal potential reversals.
[*]ADR - Learned through BTMM. Found that it's a powerful tool that can be used to gain pips from price moving within these levels
[*]TDI - Another tool purchased based on BTMM. Seems to help mostly with finding price divergence, which is helpful in some cases for reversals.
That's cherry-picking certain parts for the purpose of this thread. How does PVSRA differ or how is it better? Because PVSRA seems to focus on the more important points and gives good ideas of what to look for. The community is FREE! Yes - you need to register to participate - but that's to keep persons that don't show a genuine interest out of it. I realize that the forums are pruned periodically as well. If persons are actually interested in trading, they would post things to ask for help with charts and such. Persons looking for the free indicator only can get it otherwise.
PVSRA looks at the levels - similar to QT - and where price is now relative to the levels, previous price movement and the MAs - similar to PA. ADR is used for DAILY and WEEKLY within PVSRA as good targets to look for when entering/exiting. It also helps with finding the direction. Add that to the outlined rules and you've got a system that is more likely to produce wins.
Personally - I'm working on migrating fully to PVSRA. I still have the older charts that I'm more familiar with opened in tandem, but I'm looking at how the setups are and I'm hoping to fully wean myself soon.
Also - loving the dark template. The white template is nice, but especially for those of us who trade later in the night - LS is night for us - then the dark template is golden.
-----------------------
That's all for now. Will add more as things progress and as long as admins allow.
If I've put anything that needs correction, please feel free to do the corrections and notify me. As I progress with learning PVSRA I'll add more details as well.
Keep up the good work PVSRA team!
Would like admins to advise if I'm free to make some outside links to various tools mentioned below. Otherwise I'll just talk about them and members can search for themselves.
For the admins, please feel free to correct any areas that I've made mistakes - add on - explain. Thanks in advance for indulging.
WHAT IS PVSRA?
All of that should be covered here.
viewforum.php?f=7
IMO - this is a trading strategy focused on the items in the name. Price - Volume - Support - Resistance - Analysis.
Price - I take to be price action - in terms of what price is currently doing. Where price is on the chart in the larger picture (higher time-frames) and where it is now relative to various items (S/R / Levels).
Volume - This is something that I've not fully understood. I take this to mean the number of orders that have pushed price in one direction or another. This is seen at the bottom of the PVSRA template and has a "grayish" look normally - but can be red, green, purple or blue. I'm still learning this so I'm not sure what the different colors mean, but I assume it has to do with the number of orders at that particular time which then would push price one way or another. From what I've seen though....
[*]"Grayish" - Normal price movement - minimal volume.
Four situations below edited by Tah:
[*]Red - Bear candle push on relative high activity
[*]Purple - Bear candle of relative high activity but without major movement (MMs concentrate on filling orders, but they can be either bull or bear initiated!)
[*]Green - Bull candle push on relative high activity
[*]Blue - Bull candle of relative high activity but without major movement (MMs concentrate on filling orders, but they can be either bull or bear initiated!)
Again - I'm not 100% sure about my analysis of things at this time, but I'm not very sure about the blue or "grayish" volume indicators. The purple I've seen after certain pushes, and even if the market continues in that direction, it hesitates or stabilizes a bit at that purple volume bar and candle before moving again.
The idea or premise behind PVSRA that I've seen thus far is pretty simple, but complex in another way. It's always like that with trading where a simple statement can have a lot of meaning. So PVSRA is more of a trend following system - short term preferred - where at least 20 pips are more likely to be acquired. I say "more likely" instead of "guaranteed" because this is Forex. I should say it like "THIS IS SPARTA!!!!" and be like "THIS IS FOREX!!!" if you get my drift.
Personally, I've seen market manipulation. I've seen where medium and high impact news (orange and red) have done absolutely nothing to the market. I've seen where no news release came out - not even related news - and the market surges in one direction or another. I've seen where IMMEDIATELY as news comes out the market surges. I've seen where high impact news comes out and it takes 30-90 minutes for the market to react. As a retail trader - you cannot tell what the market makers will do. It's best to acquire an "edge" against these crooks and ride the wave. Will get into that later on.
TERMS
There's a lot of different terms used in PVSRA. I'll try to define the most common ones here and throw in a few others that I've seen.
PVSRA - What this site is about. Price. Volume. Support. Resistance. Analysis.
HTMRW - How The Market Really Works.
TVT20 - "Trend Validated Trade for 20 pips (MOL)" - where MOL means "More Or Less".
FIFO - First In First Out according to brokers - Fast In Fast Out based on this site's usage.
LS - London Session.
AS - Asian Session.
NYS - New York Session.
EP - Entry Point / Entry Position.
PA - Price Action.
TP - Take Profit.
SL - Stop Loss.
MM - Market Makers.
PA - Price Action.
QT - Quarter's Theory.
More will be added as things go along.
TOOLS
Within all of this I've come across a lot of tools that I've used before coming to PVSRA. I'll cover them in case you want to get.
TIME ZONE MANAGEMENT - NEWS
This is something that I used previously. With PVSRA it's not needed as much. Two tools would be QLOCK and SHARP WORLD CLOCK. The former is small and fairly cheap. They have a free version that works, but support is kinda lax. The latter is FAR better IMO and has a "scheduler" which allows you to see what time it will be in your zone when it's a certain time elsewhere.
Sites like ForexFactory and MyFXBook have tools to show when news is coming out in your own time zone - so those tools aren't needed as much. It's more for cases where you literally have meetings planned with persons in different time zones.
PVSRA removes the need to visit any of the websites by showing upcoming news for the pair you're on right at the bottom of the indicator window. Very convenient. No need for the other tools.
SCREENSHOTS
Persons have spoken about GREENSHOT and SNAGIT - both are awesome tools. GREENSHOT is totally free while SNAGIT is not. While the free tool is very good, it sometimes falls short when it comes to capturing your specific screen information, and it also doesn't do scrolling screenshots very well.
Exporting to a picture is easy from within MT4 and doesn't require any third-party application. Editing however, is where both of the tools mentioned above will shine.
For specifically editing your pictures - I recommend PAINT.NET as the tool to use. Search for them because the website is not "paint.net" - and you may get something undesired from going to "paint.net" instead of searching.
PDN (Paint.NET / Paint Dot Net) is an awesome tool for editing your screenshots and adding information. Great for blurring information if needed or adding text/information to a chart before posting it.
PVSRA vs OTHERS
I think I said it before - I've been using a "bastardized" version of a number of things. Namely...
[*]BTMM
[*]Price Action
[*]S/R Trading
[*]Quarter's Theory
[*]Harmonics
[*]ADR
[*]TDI
That's not even everything. But the ones that I found to make more sense are those above. Here's how.
[*]BTMM - Showed that the markets can be unpredictable due to MMs. Seems to me to be a mix of PA and QT. Seems to me to focus more on reversals.
[*]Price Action - Showed that price reacts a certain way and paints patterns on the chart that can help you determine trends and reversals.
[*]S/R Trading - Showed that price will respect certain levels - but some of the levels are skewed...
[*]Quarter's Theory - Gave more insight into the S/R levels and how to read where price bounces/hesitates more easily.
[*]Harmonics - An interesting view of how certain price patterns may signal potential reversals.
[*]ADR - Learned through BTMM. Found that it's a powerful tool that can be used to gain pips from price moving within these levels
[*]TDI - Another tool purchased based on BTMM. Seems to help mostly with finding price divergence, which is helpful in some cases for reversals.
That's cherry-picking certain parts for the purpose of this thread. How does PVSRA differ or how is it better? Because PVSRA seems to focus on the more important points and gives good ideas of what to look for. The community is FREE! Yes - you need to register to participate - but that's to keep persons that don't show a genuine interest out of it. I realize that the forums are pruned periodically as well. If persons are actually interested in trading, they would post things to ask for help with charts and such. Persons looking for the free indicator only can get it otherwise.
PVSRA looks at the levels - similar to QT - and where price is now relative to the levels, previous price movement and the MAs - similar to PA. ADR is used for DAILY and WEEKLY within PVSRA as good targets to look for when entering/exiting. It also helps with finding the direction. Add that to the outlined rules and you've got a system that is more likely to produce wins.
Personally - I'm working on migrating fully to PVSRA. I still have the older charts that I'm more familiar with opened in tandem, but I'm looking at how the setups are and I'm hoping to fully wean myself soon.
Also - loving the dark template. The white template is nice, but especially for those of us who trade later in the night - LS is night for us - then the dark template is golden.
-----------------------
That's all for now. Will add more as things progress and as long as admins allow.
If I've put anything that needs correction, please feel free to do the corrections and notify me. As I progress with learning PVSRA I'll add more details as well.
Keep up the good work PVSRA team!