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Bill Shepard and Acccumulated Volume Depth

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    Bill Shepard and Acccumulated Volume Depth

    I'd like to thank NinjaTrader for providing the webinar with Bill Shepard, it was very interesting.

    If I might be allowed to make a few comments; I think there are two important issues raised from his webinar

    1) The usefulness of Bid/Ask Depth of Volume studies as an indicator in looking for entry and exit points,


    2) The phenomenon of large volume orders several levels away from the price action *attracting* the last traded price, rather than driving it further, as is conventional wisdom. This phenomenon could only be observed when using the indicator as in point 1.

    I'm not going to try and explain the reasons for number 2, but the issue raised in number 1 brings me to ask if NinjaTrader is going to reconsider incorporating some form of Bid/Ask Depth of Volume indicator in the future. I know I have asked before, and Ninja did mention that they had something similar in an early version of NT, but it was discontinued because it seemed that people weren't using it. It seems to me this is largely because of misunderstanding how bid/ask and last traded price actually works, and how such an indicator could be used to give one a measurable edge.

    As Bill's webinar clearly showed, there is something of value in the study of market depth changes. Although Bill is looking for 2 ticks in profit, which is a bit small for my liking - it works for him because he is operating an immediate time frame, so 2 ticks is all that could expected at that fine a detail, however, if one were to extend their study to larger time frames, and by definition, slower price action, then the tick gains one could expect are much greater. As he said, the system works well for all timeframes. I have been using it with some measure of success on stocks which has a much slower change of bid/ask volume, and thereby have been doing calculations in my head.

    Fast markets have a much faster change in bid/ask volume and therefore makes it harder to do mental calculations, and as Bill's PSP and Parabolic Stochastic indicators showed, bid/ask depth of volume can be successfully depicted on screen.

    Which prompts me to ask, does NT have plans to include something like what Bill demonstrated in the platform? If you promoted Bill's webinar, it seems to me you guys are certainly thinking about it. Hopefully my feedback here will tip you over the edge to going ahead with it!

    thanks again,

    Antraman,

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    You are welcome

    We do have partners coming out with various different forms of volume analysis indicators. I know Bill and his team are working on putting out some of his indicators in NT. Depth analysis is on our list but it is lower on priority based on other things that we need to get done.

    Ray
    RayNinjaTrader Customer Service

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