Wishlist for Daytrading
I have only one thing on my wishlist for 2024. I am a technical trader and a daytrader on most days, so I am hoping for a technical instrument that would help me with my daytrading.
Volume-Positioning Overlay
There is a tool that I have seen which overlays the market positioning or the volume of transactions onto the chart at the specified price points. This tool is dynamic as it changes in real time as transactions are taking place. And the volume bars change to correlate with any position on the chart as you zoom in/out or scroll left/right on the charts.
This technical indicator has been called many things, like the position cost distribution, market positioning overlay, or volume postioning overlay. This is an example of what it looks like on a chart.
Moomoo has a tool similar to this but it's data does not change in real time and you cannot overlay it onto the actual chart where the price points on the stock chart line up perfectly with the price points on the tool. Also, you can't use the indicator on an intraday chart or on timeframes with candlesticks smaller than the daily candles. Like 1-minute candles or 1-hour candles. Here is an example of Moomoo's feature.
If the tool on Moomoo added the features that I mentioned, then it would provide valuable real-time information to a daytrader or swingtrader. It would indicate where, or at what price points, there were a large or small number of transactions. With this info, you can quickly determine potential supply/demand zones or support/resistance areas. This could possibly give you good entry and exit points for viable swing trades.
So are there any other daytraders or swingtraders out there that would like a feature like this?
I almost forgot to add one thing to the wishlist. BRING CRYPTO TRADING TO THE MOOMOO PLATFORM!!!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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Keith123 : you want day trading to change your life. check out the indicator by, luxalgo price action concepts.
SpyderCallOP Keith123: I'll check it out.
EROD42069 : My wish list is a Time Machine
Stock_Drift Keith123: Where? I’d check it out
SpyderCallOP EROD42069: That would make it too easy
SpyderCallOP Stock_Drift: I saw something like what he was talking about on youtube.YouTube. I haven't watched the video yet but there is something on youtube
Keith123 : go on,trading view. there you will find it all. and it's all free.
Keith123 :
SpyderCallOP Keith123: Looks legit to me at a quick glance. Aside from the acronyms on the chart, it looks a lot like how I already map my charts out.
Trading View is actually a really good resource for newbies and the more experienced trader. Good stuff.
102640653 : Need help . R you free. Technical readings on baba, Tencent, hang Seng index, Shanghai Composite
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