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?

how are the micro FX contracts? Last time I checked they had almost no volume BUT they might have some potential. And at 1/10 the value of the normal FX contracts, you could afford to make a mistake or two. Has anyone traded them? Or are they only being used by bigwigs to arb against the normal FX contracts?

i think someone on another forum said they are trading when the histogram and centerline match up, trading histogram divergences, and something about when the histogram breaks its own trendline. I can't remember exactly.

thank you, sir (message not long enough ljkfdlkjflkjdfljkfljkdf :p )

Thanks for posting that chart. Would you mind posting another one with the MAs overlaid over the candles, too? I want to see how price bars interact with the MAs. Thanks! btw did something happen to this thread? I got like 50 emails that there were new replies but there was really only one new reply.

Can you post some screenshots of when these indicators gave good signals and when they gave bad signals? Jurik's webpage doesn't have many examples of various time periods. Thanks.

that domain seems to have expired. Any more info about this anywhere else?

Looking forward to trying that out next week after the holiday. Happy Holidays everyone!

Corrections: I've never found volume to be useful, and the successful traders I've spoken with say they don't use it, either. I also say I am leaving it up on my charts just in case I am able to finally get something from it. Re: trendlines. 99% of the posts on ET by "gurus" show beautiful trendlines drawn after the fact, and trades made based on trendlines that could not possibly have been drawn at the time. I'm not saying it's impossible to draw trendlines in real time, just that many, many people draw them after the fact and act like they were there all along. If I sound cynical in that thread, it's because there is so much BS on ET. Fake gurus like to lead newbies astray and try to get them to pay for their courses that don't even backtest profitably (i can name 5 ET'ers off the top of my head who are known for this... and I have them all on my ignore list). I'm putting in a lot of work, I just have my BS detector on from the beginning.

Seems like this thread was made a day after I made this thread over at ET: http://www.elitetrader.com/vb/showthread.php?s=&threadid=146764&perpage=30&pagenumber=1 You may want to check that thread out, too. I'm trying to learn PA and have removed all indicators. So far I'm doing horribly :p That thread is much longer, but is also full of a lot of guru fortune cookie BS which you have to wade through. Glad to see there are some PA thread over here on TL.

like this (IFT (middle) is applied to slow stochs (bottom))