Sherlock

Mike Am not familiar (yet, hope so to become soon) is the EOD and longer period trading so cannot comment on that. However intraday is fraught with fake outs and these are treacherous and in my honest opinion on the shortest timeframes (let's say below 500 - 800 ticks) Barros rule does not apply. More often than not it turns out to be just the high, the low or the hesistation around the open of the day and depending on the momentum those moves mean either a continuation or a reversal. If you are on the wrong side then it will cost you dearly and it is a tricky business to ensure you enter at the correct side. Breakouts intraday are now a no-no in my book as the times it makes a big loss have outweighed the gains (even if these were parabolic). Sherlock

The problem with zig zags ( imho ) is that the market can drift sideways for quite a while and you get too many false signals with resulatnt whipsaws. I am more of a momentum player: when the momentum is at an extreem swing often it is an exhaustion of the move and you do a counter trend trade. However there is a fine line there, if it goes a tad further then you have moved into a parabolic move which (imho) is something you should never go against. Sherlock

Thanks for reminding me of those. I looked at those a long time ago, together with the Pitchfork. Never did anything for me at the time but I'll dig them out again and will see if I can mimic the chart posted by Mike. Sherlock

This will need quite some work to get it going under TradeStation 2000i: for startes all the comments made the whole thing too long and then i started to run into some reserved words of later versions of TradeStation, possibly version 8 or so. Was still worth the experiment and if I have more time I may have another go at it as some time in the future. Sherlock

Mike, I am running TradeStation 2000i and use IB as broker and am not with TradeStation securities. As such I cannot see what is written in the thread you are mentioning. Would it be possible for you to post / private message / email me the text of the *.ELD so i can convert? It surely looks promising. Personally I am using something else but this may throw a different spin on longer timeframes. Many thanks, Sherlock.

yesterday high & low, last weeks high and low, this weeks open and todays open in EL TS2000i: If changing the value of weeknumberhighlow from 1 to 0 then it will be the high and low of the current week up until today (handy after Christmas) set it up as an indicator, you'll need 10 days history prcescale the same as the symbol and update it not at every tick: so'll you will have to wait until the first bar is completed. Otherwise with every tick you get some annoying screenflicker. Make sure to have a bit of space on the right side of your prices that's where the lines will appear. enjoy Sherlock paste=====> Inputs: lineColorOpenDay(darkGreen), {yesterdays close} lineColorHighDay(Blue), {yesterdays high} lineColorLowDay(Red), {yesterdays low} lineStyleDay(tool_Solid), {Tool_Solid,Tool_Dotted, Tool_Dashed, Tool_Dashed2, Tool_Dashed3} lineSizeDay(0), {thickness of line 0 - 6, if larger than 0 then dotted, dashed etc will not work} lineColorOpenWeek(darkGreen), {this weeks open} lineColorHighWeek(darkBlue), {this weeks high} lineColorLowWeek(darkRed), {this weeks low} lineStyleWeek(tool_Dotted), {Tool_Solid,Tool_Dotted, Tool_Dashed, Tool_Dashed2, Tool_Dashed3} lineSizeWeek(0), {thickness of line 0 - 6, if larger than 0 then dotted, dashed etc will not work} weekNumberHighLow(1), {when history is short last week is no good, 1 = last week, 0 = this week} displaceLine(1); {displacing will only work on minute and daily charts, not on tick charts :-( } Variables: maxpts(6), count(0), dateOK(True), lastDisplayTime (2359); Arrays: level[6](0), lineID[6](0), lineColor[6](0), lineStyle[6](0), lineSize[6](0); If lastBarOnChart then begin {delete the lines - they are overlapping the old bars} for count = 1 to maxpts begin if Level[Count] <> 0 then begin TL_delete(LineID[Count]); end; end; {initialise values - unfortunately they'll have to be re-initialised} Level[1] = OpenD(0); Level[2] = LowD(1); Level[3] = HighD(1); Level[4] = OpenW(0); Level[5] = LowW(weekNumberHighLow); Level[6] = HighW(weekNumberHighLow); LineColor[1] = lineColorOpenDay; LineColor[2] = lineColorLowDay; LineColor[3] = lineColorHighDay; LineColor[4] = lineColorOpenWeek; LineColor[5] = lineColorLowWeek; LineColor[6] = lineColorHighWeek; LineStyle[1] = lineStyleDay; LineStyle[2] = lineStyleDay; LineStyle[3] = lineStyleDay; LineStyle[4] = lineStyleWeek; LineStyle[5] = lineStyleWeek; LineStyle[6] = lineStyleWeek; LineSize[1] = lineSizeDay; LineSize[2] = lineSizeDay; LineSize[3] = lineSizeDay; LineSize[4] = lineSizeWeek; LineSize[5] = lineSizeWeek; LineSize[6] = lineSizeWeek; {if the bar is minutes then the trednlines do not have to go back all the way to the price bar.} {unfortunately this only works with minute bars and not with tick bars} if dataCompression = 1 then value1 = displaceLine * barInterval else value1 = 0; value2 = calctime(lastCalcTime , value1); {need to check if the bar gets displaced beyond 2400 because then it plots on YESTERDAY's bars} if value2 >= 2358 then value2 = 2358 ; {now draw the lines} for Count = 1 to maxpts begin { fill the array with the TL parameters for deleting it later and plot the new trendline at the same time} LineID[Count] = TL_New( Date,value2 , Level[count], Date, lastDisplayTime, Level[count]); {complete the TL: set the trendline display parameters} TL_SetColor(LineID[Count], LineColor[count]); TL_SetStyle(LineID[Count], LineStyle[count]); TL_SetSize(LineID[Count],lineSize[Count]); TL_SetExtRight(LineID[Count], true ); end; end; <=======end paste

Thanks, it certainly looks like it will work in TradeStation 2000i. I am waiting for the book and will evaluate what he discloses about the logic. If I decide to use it then I'll get the licensed version. ( I have been burned once by some thing that deleted all my Easylanguage stuff and took me 5 weeks to recover from. It was not immediately apparent and it wiped all my backups on hard disks and infected both my computers. Downtime was far more expensive than having to fork out the money in the first place, I will not travel that road again: once was enough) Regards, Sherlock.

Will the BarrosSwings in TradeStation work in TradeStation 2000i and where can you obtain these? Many thanks, Sherlock

Thanks for the link :thumbs up:, just bought the book. Was not aware he had written books, must be about ten years ago I came accross a quote by Ray on "The ranking of a trend" and the implications for the trading scope thereof. :applaud: :applaud: That became the backbone of my trading setup although I achieved this in a different way and am only using it for intraday futures trading. I really look forward to see how he applies it all to the EOD trading. The information I got from the preview of the book already indicated to me that his line of thinking is very much in line with my own. :thumbs up: :beer: Sherlock

As Jesse Livermoore, Richard Wyckoff and others have stated: It is great fun trading the daily wiggles but the real big money is made trading the longer pull. In fact Livermoore stated that he made the millions easier tradign the long pull than making the hundreds trading the intraday wiggle. Sherlock.

The timeframe that a trader is using to make trade decisions is in direct proportion to the experience that the trader has. Sherlock

SOCRATES: There is a very fine line dividing sense from nonsense. The great majority are unaware of its existence, or, choose to ignore it. Consequently they succeed in misdirecting themselves to choose the wrong side of this line, for reasons best known to themselves. This is a source of amazement to those very few able to correctly logically deduce and reason, viewing nearly everything you will encounter here as nonsense, pure nonsense, that the majority ultimately embrace. Hofstadter's law: It always longer than you expect, even when you take Hofstadter's law into account. Wirth's law: Software is getting slower more rapidly than hardware becomes faster. Roald Admundson (1927): Visotry awaits those who have everything in order - people call that luck. Defeat is certain for those who have forgotten to take the necessary precuations in time - that's called bad luck. Confucius: The superiod man makes demands on himself, the inferior man makes demands on others. Tao te Ching: Tetragram fifty-six: Those who know do not speak Those who speak do not know Block the passages Close the door Blunt the shaprness Untie the tangles Harmonize with the brightness Identify with the way of the world chapter 11 of Tao te Ching: Using what's not Thirty spokes converge on a hub What's not there makes the wheel useful Clay is shaped to form a pot What's not there makes the pot useful Doors and windows are cut to shape a room What's not there makes the room useful Take advantage of what's not there By making use of what's not Kenny Rogers: The Gambler You have to know when to hold them You have to know when to fold them You have to know when to walk away You have to know when to run