sevensa

I am using MC too, but there are two SetPlotWidth lines in the code, which means they are hardcoded and your changes will have no effect. Try to comment them out and see if this helps to have your settings take effect. The lines are: SetPlotWidth(1,7); setplotwidth(2,7); Or copy and paste the code below where I have commented the lines out already to a new indicator and verify: Inputs: Price(Close), price2(close),Price3(H/3+L/3+C/3), Length(20), Length2(13), Length3(21), Length4(9), Style(1), nK(1.5), nBB(2), AlertLine( 1 ), BuyColor1(blue), BuyColor2(darkblue), SellColor1(red), SellColor2(darkred), NormalColor(Red),AlertColor(Blue), CounterTrend(true); vars:FastVal1(0), SlowVal1(0), Diff1(0), FastVal2(0), SlowVal2(0), Diff2(0), FastVal3(0), SlowVal3(0), Diff3(0), FastVal4(0), SlowVal4(0), Diff4(0), AvgDiff(0), AvgDif(0), poles(4), CCIValue(0),DownCT(0),UpCT(0),SDev(0),ATR(0),LHMult(0),Denom(0),BBS_Ind(0); if Style = 0 then begin {Zero Line - BB Squeeze} if ( barnumber=1 ) then Begin If minmove <> 0 then LHMult = pricescale/minmove; end; {-- Calculate BB Squeeze ----------------------} ATR = AvgTrueRange(Length); SDev = StandardDev(Price, Length, 1); Denom = (nK*ATR); If Denom <> 0 then BBS_Ind = (nBB * SDev) /Denom; If BBS_Ind < Alertline then SetPlotColor(1, NormalColor) else SetPlotColor(1, AlertColor); {-- Plot Index & Alert Line -------------------------} Plot1(0, "Squeeze"); end; if Style = 1 then begin {Zero Line - Gauss filter} value1 = Gauss(Price3,Length3,3); if (Value1) > (Value1[1]) then SetPlotColor(1, BuyColor1); if (Value1) < (Value1[1]) then SetPlotColor(1, SellColor1); // SetPlotWidth(1,7); Plot1(0, "Squeeze"); end; {Histogram} FastVal1 = Gauss(price, 8, poles); SlowVal1 = Gauss(price, 21, poles); Diff1 = FastVal1 - SlowVal1; FastVal2 = Gauss(price, 13, poles); SlowVal2 = Gauss(price, 34, poles); Diff2 = FastVal2 - SlowVal2; FastVal3 = Gauss(price, 21, poles); SlowVal3 = Gauss(price, 55, poles); Diff3 = FastVal3 - SlowVal3; FastVal4 = Gauss(price, 34, poles); SlowVal4 = Gauss(price, 89, poles); Diff4 = FastVal4 - SlowVal4; AvgDiff = (Diff1+Diff2+Diff3+Diff4)/4; plot2(AvgDiff,"DiffHisto") ; //setplotwidth(2,7); if AvgDiff > 0 then if AvgDiff > AvgDiff[1] then setplotcolor(2,BuyColor1) else setplotcolor(2,BuyColor2) ; if AvgDiff < 0 then if AvgDiff < AvgDiff[1] then setplotcolor(2,SellColor1) else setplotcolor(2,SellColor2); {+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++} { Counter Trend Mode} if CounterTrend = true then begin CCiValue = CCI(13); Condition1 = ccivalue[1] > 50; Condition2 = CCivalue < 50; Condition3 = CCivalue[1] < 100; Condition4 = CCiValue > 100; Condition5 = AvgDiff > 0; Condition6 = AvgDiff[1] > 0; Condition7 = AvgDiff[2] > 0; Condition8 = ccivalue < 100; if Condition1 and Condition2 and Condition5 and condition6 and condition7 then begin setplotcolor(2,SellColor2); DownCT = 1; end; if DownCT = 1 and AvgDiff < 0 then DownCT =0; if DownCT = 1 and Condition8 and Condition5 then setplotcolor(2,SellColor2); if DownCT = 1 and Condition3 and Condition4 then begin setplotcolor(2,BuyColor1); DownCT = 0; end; Condition11 = ccivalue[1] < -50; Condition12 = CCivalue > -50; Condition13 = CCivalue[1] >- 100; Condition14 = CCiValue < -100; Condition15 = AvgDiff < 0; Condition16 = AvgDiff[1] < 0; Condition17 = AvgDiff[2] < 0; Condition18 = ccivalue >-100; if Condition11 and Condition12 and Condition15 and condition16 and condition17 then begin setplotcolor(2,BuyColor2) ; UpCT = 1; end; if UpCT = 1 and AvgDiff > 0 then UpCT =0; if UpCT = 1 and Condition18 and Condition15 then setplotcolor(2,BuyColor2) ; if UpCT = 1 and Condition13 and Condition14 then begin setplotcolor(2,SellColor1); UpCT = 0; end; end;

Sorry, but I still have a difficult time to understand how you will use this to decide the timeframe to trade on? Do you use the Standard Deviation from yesterday to decide what time frame to trade on today? But then the standard deviation at the end of the day will be drastically different than what it was after the first 30 minutes if you continue to include all the data from the beginning. Or do you run it from 9:30 and check it every hour to see what the current calculations are and change your timeframe after each check? I don't think noise and volatility are the same thing. You want to filter out noise and trade volatility. This will be accomplished by trading a higher range than the results of the calculations, which in essence will filter out the noise and allow you to trade the volatile moves which rise above the noise. There is no rhyme or reason to noise. Why would someone want to tade that?

How do you calculate the average price? If you use x minute bars to calculate this average, wouldn't this mean that you always will need to use a time frame less than x to trade? Or do you use x number of ticks to calculate this average? If so, what number of ticks do you use? Wouldn't the result be drastically different depending on the number of ticks you use? Also, wouldn't you want to use an interval with range larger, instead of smaller than the volatility/noise to filter out the noise?

Your whole premise is based on picking a winning strategy. "Pick a strategy that you know makes money eg open range breakout." Without that, your mindset is useless. If you don't have a winning strategy and follow the 20 trades exactly per the rules, you will have a great mindset, but still not be profitable. A great mindset, will not turn a losing strategy into a profitable one, esepcially if you follow the rules 100%. You need both. An edge and the ability to follow it. Even your arguement assumed you start with a winning strategy to "test" your mindset. This is like saying to be a Formula 1 champion, you just need to be a good driver and that the car is irrelevant.

What studies have you done to determine that Sundays are more volatile than in the past? Can you please share your findings? Which markets specifically are you looking at when you say Sundays are more volatile?

Sorry, I don't open Excel or Word documents from unkown sources on the internet. Sounds however that you already know the definitions which you asked about, but need some help to calculate that in Excel. You might be better off asking for help on that in an Excel forum. However, I don't see the difference between using the settlement price or any other random price you pull out of thin air. The formula to calculate your P/L is the difference between your opening and closing price, regardless of where the closing price comes from.

No one replied because your question is either ridiculously simple, or not clear. It appears that you ask how to calculate your profit/loss when you close a position. Do you really not know how to calculate that? This is just basic math. If you buy/short something for x and sell/cover it for y, your gross profit/loss is the difference between x and y. Your net is your gross minus whatever trading costs you have incurred, commissions for example.

I don't work for IB. I suggest you ask them. If you don't like what you get then don't buy it and instead of complaining about it, find something else which give what you want and buy that. I have no need for a true streaming feed like this, so have not investigated that enough to provide you with an answer. Also "best" is a very loose term. What is best for me, is probably not going to be best for you. Start with contacting the bigger datafeed providers to see if they provide what you are looking for. Again, I suggest to go the source and ask IB and not rely on "anonymous" replies on an internet forum to get answers to these kind of questions.

If IB was a datafeed provider then it would be a flaw. But they are not; they are a broker providing customers streaming data. From that viewpoint, their datafeed is excellent for the price you pay. If you need true realtime data, you will need to use a data provider like DTN, or e-signal which will cost at least $100 a month. What you really need to ask yourself is how important receiving true real time data is for your type of trading? Have you already determine that receiving data 5 times a second like at IB is not working for your style of trading and that only receiving true real time data will work? Be careful not to get caught up in what are the best tools to use before you have figure out what kind of trading and time frame you are going to do.

Nothing. This is why not everyone obtain unlimited wealth with trading and why you have to study price/volume at key points. Yes. On an side note. If you are not comfortably with any kind of method and don't believe it will "work", then don't try to use it. You need to find something you are comfortable with and works for you. You will waste your time and trading capital if you try to implement a method, you deep down never really trust, even though someone else is wildly successful with it and tell you it will "work" for your market.

Snackly Can I kindly suggest to read up and study Wyckoff a little more? I don't mean it in a harsh way, but the questions you are asking about Wyckoff doesn't sound like you had read up on it yet. If you did, my apologies for my assumption, and I would suggest that you read the material again. Wyckoff is not just about reading time and sales. Also, the question about if data speed is important, is not relevant to just Wyckoff. This is relevant to the time frame you are trading. If you are trading off daily bars, the datafeed speed is irrelevant. If you do scalping off 1 second bars, then it probably is. However, your question is not really a Wyckoff question, it is a time frame question.

Yes, IB's TWS has both.

{ UKR Breakout } Input: ProfitFactor( 9 {0 = no target}), StopLossInDollars( 2000 { 0 = no stop}), BreakoutAmount( 10 {Purchase limit order at high+breakoutamount in points}), LL( 11 {Look back period for the lowest low }), BSI( 5 {Bars Since Entry - when to exit trade}), UseFixedRatio( false {Enable/Disable fixed ratio position sizing}); Variables: ATR(0), TotalContracts( 0 ), TotalProfit( 0 ); Condition1 = Low < Lowest( Low, LL )[1]; Condition2 = Close > Close[1]; If ( Currentbar > 1 ) And ( marketposition = 0 ) And ( Condition1 ) And ( Condition2 ) Then Begin // Ryan Jones Fixed-Ratio Position Sizing If ( UseFixedRatio ) And ( NetProfit > 0 ) Then TotalContracts = IntPortion( 1 + SquareRoot(1 + 8 * NetProfit/4000) * .5 ) Else TotalContracts = 1; Buy TotalContracts contracts next bar at (High+BreakoutAmount) limit; ATR = AvgTrueRange(LL); End; If ( BarsSinceEntry(0) = BSI) Then sell("expiration") next bar at market; If ( StopLossInDollars > 0 ) Then SetStopLoss( StopLossInDollars ); If ( ProfitFactor > 0 ) Then SetProfitTarget( ATR*ProfitFactor );

I assume this means you won't be opening another thread to discuss a little more about what you do and why you think Wyckoff is not worth your time? That is really unfortunate since you thought this was worth your time to come to the Wyckoff forum to say that this is useless and it sounded like you might have more concrete examples and comparisons with what you do to share and contribute, but it appears that I was mistaken. No hard feelings. To each their own...

Hi AgeKay Are you planning to contribute something related to Wyckoff in the Wyckoff forum other than saying you have no need for it and think it is useless? If you think Wyckoff is a waste of time, maybe you can start another thread elsewhere to discuss the problems you have with it and explain why your method is superior and let the people who want to discuss Wyckoff related topics do it here?

Interactive Brokers is one of them. I never had issues withdrawing money from my account. See the below link with regards to trading Forex with them. http://individuals.interactivebrokers.com/en/trading/pdfhighlights/PDF-Forex.php?ib_entity=llc

Hi Sledge I think the "issue" and what the other people are alluding to is with what you are saying above. Maybe I am not understanding clearly what exactly it is you want, but when you say "...simple concept of discussing candles, their formation and what that candle says to the trader looking at it...", this is the core of the whole issue. A candle pattern by itself doesn't tell you anything and this is a rather pointless excercise to identify them all, although there are several resources giving explanations on what a specific pattern is supposed to mean. Is this what you are looking for? You did mention context, but when trader273 said candle patterns are more relevant at Support/Resistance, you shot that down and say you just want to talk about individual candle patterns. Isn't Support/Resistance context? I think maybe this will be helpful if you can give us an idea of what you mean by context, if you don't consider S/R as context? If you really do not want to talk about context, but just about specific candle patterns and what they mean, maybe this would be easier to look at some of resources Brownsfan has posted with regards to candle patterns elsewhere? I noticed you used to be fairly active on the VSA thread. The same goes for that. This is easy to identify a "no demand" bar, but without looking at where it occurs, it is not really telling you much. If someone post the exact same text you use here on the VSA thread, but instead of using "candle formations" use "VSA formations", would that sound like a logical approach to you to want to look at just the formations and disregarding the big picture? Somehow I suspect though that there is a misunderstanding here on what it is you really are trying to do here. Maybe you can try to explain this again?

But you already have the code. You copied and pasted it above. If you can copy and paste it here, surely you can copy and paste it into the editor of TS, or MC?

I don't think when it is said that you need to confirm your entries on the bigger time frame, it is meant that you actually need to get a signal there or wait for the bar to close. If you are using VSA, I would suggest to use the bigger time frame to determine the strength of the market, is it going up, down or nowhere (and one bar is not enough to determine that, you need to look at the overall picture, i.e. one no demand bar does not mean the market is weak), and then take your signals as they come on your tick chart. I wouldn't wait for a bar to close on the higher frame time chart if I have already determined the direction there.

What do you do if your 500 Tick chart still have 200 ticks before it close? Couldn't you miss the entry then too? I guess I am confused when you say you will miss an entry on a time based chart. Isn't the whole point to wait for the bar close, regardless if this is a tick or minute chart? Would you also say that if a trade confirms on a 200 tick chart, that you missed it when you are trading on a 500 tick chart and it didn't confirm there? I guess the point I am trying to make is that you will always feel that you miss a trade if you look at one timeframe/interval and wait for it to confirm on another. If you trade on a specific interval, tick, minute, volume, or whatever, then this is your trading chart. You cannot consider trades missed because they occurred on another timeframe/interval, but not on the one you trade. If you look at it that way, you will always have missed trades.

You know one is an indicator and the other a strategy/signal? There are no errors with the Indicator when I compile it. Here is the code for the indicator: {Renko-Adaptive indicator (based on ATR) Written by konkop 07.03.2002. ********************* Attention: set MaxBarsBack (f.e. =30) in this study according with MaxBarsBack value in the Renko_Adaptive strategy for correct step-by-step calculations of the buy/sell levels *********************} Inputs: K(1), Smooth(10); vars:Brick(0) ,DN(0), UP(0), BricksUp(0), BricksDn(0); Value1 = AvgTrueRange(Smooth); If BarNumber = 1 Then Begin Up = H; Dn = L; Brick = K*(H - L); End; If BarNumber > 1 then begin If C > UP + Brick Then begin BricksUp = IFF(Brick = 0, 0, Floor((C - Up)/Brick)*Brick); UP = Up + BricksUp; Brick = K*Value1; DN = Up - Brick; BricksDn = 0; End; If C < Dn - Brick Then begin BricksDn = IFF(Brick = 0, 0, Floor((Dn - C)/Brick)*Brick); Dn = Dn - BricksDn; Brick = K*Value1; Up = Dn + Brick; BricksUp = 0; End; End; Plot1(UP, "Up"); Plot2(DN, "Dn"); The signal was using "short" as and input name which is a standard word which cause a syntax error. I change that to "ShortTrades". Also "exitlong" is not supported anymore and this is just "sell "now. The "trading rules" section does not make a lot of sense to me, but the code compile now with fixing the above two issues, for what it is worth. {Renko-Adaptive signal (based on ATR) Written by konkop 07.03.2002. ********************* Attention: set MaxBarsBack (f.e. =30) in this study according with MaxBarsBack value in the Renko_Adaptive indicator for correct step-by-step calculations of the buy/sell levels *********************} Inputs: K(1), Smooth(10), ShortTrades(false); vars: Brick(0) ,DN(0), UP(0), BricksUp(0), BricksDn(0); Value1 = AvgTrueRange(Smooth); If BarNumber = 1 Then Begin Up = H; Dn = L; Brick = K*(H-L); End; If BarNumber > 1 then begin If C > UP + Brick Then begin BricksUp = IFF(Brick = 0, 0, Floor((C - Up)/Brick)*Brick); UP = Up + BricksUp; Brick = K*Value1; DN = Up - Brick; BricksDn = 0; End; If C < Dn - Brick Then begin BricksDn = IFF(Brick = 0, 0, Floor((Dn - C)/Brick)*Brick); Dn = Dn - BricksDn; Brick = K*Value1; Up = Dn + Brick; BricksUp = 0; End; {Trade Rules with or without short trades} If ShortTrades = false then begin If Up > Up[1] then buy this bar at C; If Dn < Dn[1] then sell this bar at C; End; If ShortTrades = true then begin If Up > Up[1] then buy this bar at C; If Dn < Dn[1] then sell this bar at C; {If C < Dn[1] then exitlong; If C > Up[1] then exitshort;} End; End;

Initial margin is the amount you need to open a position. Maintenance margin is the amount you need to keep your position open. If Initial Margin is $1000 and Maintenance is $700, this mean you need to have $1000 in your account to open a position and if you are starting to lose on your position, you will get a margin call when your account dips below $700. With regard to software... There are 1000's. Do a search on google and you will find plenty to look into. Many brokers also have their own application you can use. This varies from fairly advanced to very basic.

http://www.interactivebrokers.com

I don't really understand the part of your statement which I marked in bold and I will preface my questions with admitting that I don't use tick charts. Since tick charts are based on x number of ticks, doesn't this mean that you have to wait for the number of ticks to complete until the close of the bar anyway to take your entry? Or do you enter before the close of the tick bar, and if you do that, why can't you do it on time charts too? Also with regards to this question of you... The signals will not lined up and will be different, but hypothetically, shouldn't your system rules apply to both tick and time charts?

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