metalhead

I wanted to refresh this thread and see if people were using this indicator.

Is this something that can be done intraday? Initiate a long position when the index closes at a 7 bar low.

From the first image the chart seems confusing: Looking at the one marked buy 48, it doesn't appear to sell after a 7 day high. It looks to be sold after a 6 day high.

Does this give as good of gains as dogs of the dow?

Let me preface this post by saying I am not trying to be a hater. I have been reading this thread over the last couple days and am happy to see people having success with this method. I noticed on many of the entry charts people posted, there were numerous trades that would've been losers prior to the current entry. I did not see this addressed anywhere. I am not saying that a method should have 100% winners, I just wanted to point out that according to the entry methods described in this thread, some of the charts would've had losing trades in the past if they had been taken (they were not taken, though, because they were from a time before this thread was created and before whoever posted them was using this system). For example, this chart was posted: Before the rally beginning in the middle of January, there were around 5 losing trades. Now that this thread has been going on for over a year, what sort of win rate are you experiencing? Is anyone trading this method intraday? I agree with the Optiontimer's premise that despite using indicators you are really trading price action. This method is entering on pullbacks in a trend. It works well in trends. It works really well in big trends, especially if you pyramid. It fails to work when a trend ends, when a HH is followed by a LL, or when price chops. Are you having success on things like the S&P (which people say tends to be less trendy) or currencies (which people say trend like crazy for years)? Alright those were my questions and comments after reading this whole thread.

How are you doing intraday with this?

How would your answer by different if this were day trading?

Unfortunately there are no effective chop filters because they only tell you if price has been chopping, not if price will chop in the future. That's why I asked about the HH/HL thing.

I coded up a "red light/green light" version of the rules on the first page in SierraChart. Works well during trends as you may expect since it has you buying the pullbacks. Not all of these signals would be taken like the ones where price is way outside the 65EMA. I only coded it to check if the low was below the 21EMA if the 21EMA is above the 65EMA for long positions and vice versa. You'll see. Green dot = long signal Red dot = short signal Grey background = regular trading hours. It worked great on April 3rd. Not so much on March 12. Question (sorry if I missed it in the thread): do you only take long trades following HH/HL or do you take tall long trades given by the indicators regardless of where they occur in swing highs/lows?

I just read this entire thread and saw I had posted in it a few years ago. I tried to make something like this in SierraChart but it seems SC is limited by its smallest unit of time being 1 second. So with tick or volume charts, I can check to see if the time it took to create the bar was less than one second, which is basically 0 seconds, because SC cannot work with values less than 1 second but faster than zero seconds. So I was able to using a tick chart of any size and measure the time between bars. Naturally the smaller size tick charts, the more accurate this would be. However, since it is limited to 1 second at the smallest, using too small of a tick chart size results in too many signals, and using too big of a tick chart size results in too few signals. ES 500 tick chart: http://www.sierrachart.com/Download.php?Folder=SupportBoard&download=185 ES 2000 volume: http://www.sierrachart.com/Download.php?Folder=SupportBoard&download=186 ES 250 tick chart: http://www.sierrachart.com/Download.php?Folder=SupportBoard&download=187 You can see there are many false signals on that last one. I'm sure this isn't really close to UrmaBlume's but I also don't think you can get any closer with SC since 1 second is as fast as they can get.

ZLEMA is fun to play around with. You can smooth it with a fast HMA and get a pretty good MA. However, it's still a MA and doesn't really offer any advantages. Trade in the direction of its slope? Get chopped out from time to time. Fade it? Lose in trends. It has the same limitations as any other MA.

Want to share those, too?

anyone still using this indicator?

No replies cuz everyone is too busy making money with this indicator!

Just read this entire thread. Has anyone adopted this indicator into their trading? Has anyone coded it for SierraChart?