Today’s Powerful Trading Tool: The Red K Everrex Effort Versus Results Explorer

Are you looking to take your trading experience to the next level? Do you want a tool that can help you analyze price action on a completely different level, taking into account momentum, volume, and market sentiment? Look no further than the Red K Everrex Effort Versus Results Explorer.

Understanding Volume Price Analysis

The Red K Everrex Effort Versus Results Explorer is a script that explores volume price analysis basic concepts and Wyckoff law effort versus results by inspecting the relative volume and the associated price action for each bar, showing the analysis as an easy-to-read stacked bands visual. Based on detailed analysis, it generates a metric known as the relative rate of flow, an intuitive oscillator that ranges between 100 and -100.

Core Concepts of Volume Price Analysis

Volume refers to the number of shares or contracts that exchange hands over a specific period, reflecting market activity and liquidity. Price, on the other hand, is the cost per share or contract at a particular point in time, influenced by supply and demand dynamics. Price and volume interact to provide insights into market trends and potential reversals.

Wyckoff Law: Effort Versus Result

The Wyckoff principle states that the volume of trading or the effort should generally produce a corresponding change in price or the result. By monitoring the relationship between volume and price, traders can predict potential price movements and identify trends or reversals.

Applying the Red K Everrex Effort Versus Results Explorer

To apply the features of this indicator in practice, adjust the settings for buy and sell signals. A buy setup involves the indicator falling below the -50 level, with a cross of the smooth band over the signal band. Confirm the signal with volume and price bars meeting specific criteria.

Enhancing Signal Confirmation

For additional confirmation of buy and sell signals, consider using tools that identify long-term trends and market consolidation zones. Tools like Nick Ryback Trailing Reverse and Consolidation Zones by Lonesome can provide added insight into market conditions.

Examples of Trading with the Red K Strategy

By spotting patterns in price movements and using the Red K Everrex indicator, traders can capitalize on trend continuations and reversals. By following clear rules and signal confirmations, traders can make informed decisions and potentially increase profits.

Conclusion

The Red K Everrex Effort Versus Results Explorer is a powerful tool that can enhance your trading experience and improve the accuracy of your trade entries. By analyzing volume, price, and market sentiment, traders can make more informed decisions and potentially increase profits while minimizing losses.


49 COMMENTS

  1. 👎Sorry, CONFUSED: you suggest 1:53 & 2:40 the lower part of the bar is price but the Read More for this Indicator on Tradingview says ' – the lower band represents the relative volume, the upper band represents the relative price strength'👎

  2. You have explained the Volume and Price on the colored bars reversed and wrong. the upper part of the bar is the result (price) and lower part of the bar is the effort (volume).

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  15. I am just going to say…I am super grateful for you sharing some wisdom. Thank you for teaching me how to get indicator. Thank you for sharing a few ways how to confirm signals. I've seen a lot, tried a lot, and this truly is goat. Thanks

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  22. the color have changed in terms of volume and price….@ 4.22 volume was green and price was blue ..but @ 4:39 its changed to volume is blue and price is green.. so its confusing as your explanation is referring to previous version of colors @ 4.22.. so please elaborate & also the price bar is located in the opposite direction of your explanation @ 5.08

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  40. What I've learned of my experience is that the most important thing about trading is risk management. You can have a great strategy, be emotionally stable and still lose money, if you do not have a system that minimizes risk and maximizes reward. Therefore, as all the new indicators and strategies are all fun and sexy, they can get you only so far.
    Most of the time the market will be sideways, confusing you into following false entry signals, that end up in reversing price action. Trends are short and – especially in this economy – seldom. Therefore you need to have a sound system that will first of all allow you to quickly recognise and exit a losing trade with no or minimal losses, and on the other side – maximize the trade payoff, if it goes your way.
    As I sell no course, aimed at making profit from subscribers – I will not fool you with a ready system. You need to build it yourself. Depending on the market it will vary.
    I can only suggest a step 1.: find out how many pips your market usually goes to the wrong side of your trade, before you can be pretty sure, it is time to forfeit.
    Build on that.

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  43. Has anyone tried any of these strategies pls? And yes I agree if anyone gives some feedback on a period of time with the inclusion of capital gains and losses, this channel has lots of strategies, and on which markets are suitable? tks

  45. A couple of people have already mentioned that you have mixed up the stack bars.
    From the author's notes -"…. the lower band represents the relative volume, the upper band represents the relative price strength – with clear color coding for easier analysis."
    At 1:55 you have the price bar as the lower bar, with volume on top.
    At 4:28 you change the price (upper) bar to bright blue, but at 4:40 the colors have strangely reversed with the blue at the bottom.
    At 5:09 you give the rule that the price bar should be taller than the last bearish bar. But you're pointing to the volume at the bottom.
    You should clarify what you mean.

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