ProfLogic's Method

[shrike 10]

Hi Logic:)

 

thanks for the reply,I see that you insert 2 different kinds of CVB on the same chart(2401 & 16807) after you insert your indicators,the first calculated on 2401 CVB, and the second is calculated on 16807 CVB .this ,I think ,is what you intend about the different speeds.

 

I didn't believe was possible putting different formats of a symbol in the same graph whit MC without to have issues of rappresentation of the Symbols(e.g. different spaces between the symbols and indicators).

 

Could you tell me how this is possible? Maybe this is possible using ADE or can be made with buying some third-party sw

[Marsupilami 10]

Hi Logic,

 

thanks for the explanation. How do you deal with choppy /range bound trading sessions ?

[Logic 10]

Hi Logic,

 

thanks for the explanation. How do you deal with choppy /range bound trading sessions ?

 

Simple.

If you learn to read a chart for its main attributes of "Price Direction" & "Strength" and the chart becomes choppy and range bound you can easily see see "Price Direction" (up at an oscillation of support or down at an oscillation of resistance) but you have no confidence due to the "Strength" being neutral or even totally against the trade so you STAND ASIDE!!!

 

Why trade during choppy range bound times? Charts offer more opportunities to profit than they do chop so learn to have the patience to wait for those times.

[vegasfoster 10]

Huh? Can someone knowlegeable please explain in simple english, or even simple cantonese so I have an easier time translating? Thank you.

[BlowFish 10]

 

Why trade during choppy range bound times? Charts offer more opportunities to profit than they do chop so learn to have the patience to wait for those times.

 

That is debatable depending of course on how one defines range bound. I can't recall how you do that using your paradigm? I guess I'll remember eventually There is plenty of opportunity as price bounces between the top & bottom of a range too.

 

Hi Logic,

 

thanks for the explanation. How do you deal with choppy /range bound trading sessions ?

 

In a nutshell buy support and sell resistance whereas if a market is trending do the reverse buy break outs of resistance and sell bo's of support.

[BlowFish 10]

Huh? Can someone knowlegeable please explain in simple english, or even simple cantonese so I have an easier time translating? Thank you.

 

If you search you will find background information at a similar site (well similar but a cesspool) that might help you make sense.

[Logic 10]

That is debatable depending of course on how one defines range bound. I can't recall how you do that using your paradigm? I guess I'll remember eventually There is plenty of opportunity as price bounces between the top & bottom of a range too.

 

In a nutshell buy support and sell resistance whereas if a market is trending do the reverse buy break outs of resistance and sell bo's of support.

 

My position is still valid but let me make myself clearer.

 

Trading on a range bound chart is a lot harder than trading on a chart that is showing clear strength either up or down. If one chart is range bound, simple speed the chart up one volume bar increment and you usually will find yourself outside the choppiness and back into a strong directional move. If the consolidation is really bad and you find more choppiness on the next fastest chart. Go to any other market. There are so many liquid profitable markets out there that is seems silly to marry a single market or chart.

 

Trading simply at points of support and resistance is acceptable for the experienced trader but for someone on the long end of the learning curve learning to see "strength" is crucial to longevity in this business. Adding strength to the specific support or resistance creation will increase your profit potential of any trade by 10 times. Once you can read strength (trending charts) it is still better to buy support in a clear uptrend as to wait for the breakout of resistance and it is better to sell resistance in a clear downtrend as to wait for the breakout of support.

[Logic 10]

Huh? Can someone knowlegeable please explain in simple english, or even simple cantonese so I have an easier time translating? Thank you.

 

Ask a specific question and I will answer it.

If you live in Vegas I can direct you to someone that can explain it in person in about 30 minutes but you will have to buy him lunch.

[vegasfoster 10]

The PPF and Breach things seem straight forward, I don't have the indicator so I am just going to wing it.

 

Prime = +/- 10, is that correct?

 

I use ninja (yes, it's ok to feel sorry for me) and I would like to validate that my ERG plots similar to yours, but my data doesn't go back as far as any of the charts on this thread. Would someone mind posting a current chart for reference?

 

Also, I am assuming that 49-fast, 49-slow, 147-signal. Is that correct?

 

The text file says

 

"(In Trading Decision Chart)

 

(1) Prime Trading PPF trade through to Prime Trading Breach.

- In Trading Decision chart when PPF label shows then confirm previous label is Breach label.

 

(2) Verify Histogram is in Prime.

- For Long Position histogram must equal or below -10 (When PF confirms, histogram can swing back above -10).

- For Short Position histogram must equal or above +10 (When PF confirms, histogram can swing back below +10)."

 

I am plotting the ERG that I have and I am looking at your charts and rarely is the histogram is at -10 where there is a PPF after a breach to setup a possible long and vice versa for shorts. Are you looking for one trade every few days or so on a 2401 chart or am I looking at it wrong?

 

Thanks again for any help.

[Logic 10]

The PPF and Breach things seem straight forward, I don't have the indicator so I am just going to wing it.

 

Prime = +/- 10, is that correct?

 

I use ninja (yes, it's ok to feel sorry for me) and I would like to validate that my ERG plots similar to yours, but my data doesn't go back as far as any of the charts on this thread. Would someone mind posting a current chart for reference?

 

Also, I am assuming that 49-fast, 49-slow, 147-signal. Is that correct?

 

The text file says

 

"(In Trading Decision Chart)

 

(1) Prime Trading PPF trade through to Prime Trading Breach.

- In Trading Decision chart when PPF label shows then confirm previous label is Breach label.

 

(2) Verify Histogram is in Prime.

- For Long Position histogram must equal or below -10 (When PF confirms, histogram can swing back above -10).

- For Short Position histogram must equal or above +10 (When PF confirms, histogram can swing back below +10)."

 

I am plotting the ERG that I have and I am looking at your charts and rarely is the histogram is at -10 where there is a PPF after a breach to setup a possible long and vice versa for shorts. Are you looking for one trade every few days or so on a 2401 chart or am I looking at it wrong?

 

Thanks again for any help.

 

I'll make it easy on you. Send me an email at wm.schamp@gmail.com and I will send you the indicator for NT. Just let me know whether you need it for 6.6 or 7. The indicator is free . . . learning to use it takes patience.

[vegasfoster 10]

Thank's Logic, that looks cool. Right now I am a down and dirty scalper in my day trading, but I am trying to reduce the number of trades and increase their quality while still maintaining a similar risk profile. Haven't had much luck so far. If I can add a quality trade ever couple days that would be good.

[Logic 10]

Thank's Logic, that looks cool. Right now I am a down and dirty scalper in my day trading, but I am trying to reduce the number of trades and increase their quality while still maintaining a similar risk profile. Haven't had much luck so far. If I can add a quality trade ever couple days that would be good.

 

Here's an example of the Australian Dollar Future's swing chart from early April. This chart has produced over 1050 pips in just over 3 months. Tha isn't bad.

[wunderlich 10]

From father to son the blood runs thin

See faces frozen still against the wind

The seam is split, the coal face cracked

The lines are long, there's no going back

Through hands of steel and a heart of stone

Our labor day has come and gone

 

-Bono-

 

The labor day of which decade was meant?

[jack411 10]

Ask a specific question and I will answer it.

If you live in Vegas I can direct you to someone that can explain it in person in about 30 minutes but you will have to buy him lunch.

 

Logic,

Was this system ever automated ? Do you provide or sell the code?

I was reading through the thread over on ET. Sorry, but could you explain what is meant by: "prime"? And "breach" just means a breakout, or a hh or ll correct?

 

I would like to understand the system a little better but the terminology has thrown me off a bit.

 

Your system seems eerily similar to the one I trade in terms of using an oscillator and multiple charts/time frames to look for confluence!

 

Is the ergo indicator you use also known as a True Strength Index indicator? I didn't see it on Sierra Charts.

[Kiwi 16]

yeah, erogodic and tsi are the same thing.

[Logic 10]

Logic,

Was this system ever automated ? Do you provide or sell the code?

I was reading through the thread over on ET. Sorry, but could you explain what is meant by: "prime"? And "breach" just means a breakout, or a hh or ll correct?

 

I would like to understand the system a little better but the terminology has thrown me off a bit.

 

Your system seems eerily similar to the one I trade in terms of using an oscillator and multiple charts/time frames to look for confluence!

 

Is the ergo indicator you use also known as a True Strength Index indicator? I didn't see it on Sierra Charts.

 

Yes, it was recently automated for both grey box and black box applications utilizing MultiCharts and eSignal.

I freely provide the indicator for a few charting programs: MultiCharts, Tradestation, NinjaTrader & AmiBroker. The AmiBroker code is the weakest because it is the oldest and hasn't been updated in a long time.

I only offer the box applications to former students and I no longer teach.

The information on the method is freely available on EliteTrader but you have to search for it. I have a book on my site but free is a lot better, just takes a bit of birdogging on the site.

The key to what I do is the volume bar charts but I'm told Sierra doesn't build them correctly.

I use multiple chart increments as well but I embed them and build them into a single chart instead of trying to watch multiple charts, less distraction.

The TSI is the same as the ERG. I prefer the ERG because it can be adjusted and tuned easier.

Email at wm.schamp@pricephysics.com and let me know if you want one of the free indicators.

[jack411 10]

Yes, it was recently automated for both grey box and black box applications utilizing MultiCharts and eSignal.

I freely provide the indicator for a few charting programs: MultiCharts, Tradestation, NinjaTrader & AmiBroker. The AmiBroker code is the weakest because it is the oldest and hasn't been updated in a long time.

I only offer the box applications to former students and I no longer teach.

The information on the method is freely available on EliteTrader but you have to search for it. I have a book on my site but free is a lot better, just takes a bit of birdogging on the site.

The key to what I do is the volume bar charts but I'm told Sierra doesn't build them correctly.

I use multiple chart increments as well but I embed them and build them into a single chart instead of trying to watch multiple charts, less distraction.

The TSI is the same as the ERG. I prefer the ERG because it can be adjusted and tuned easier.

Email at wm.schamp@pricephysics.com and let me know if you want one of the free indicators.

 

 

 

Really? I always heard that it was Tradestation that didn't build the volume bars correctly. My Sierra charts have always looked fine. I'll check and see what other charting programs works best with my platform then I'll shoot you an email.

 

Thanks!

[forrestang 10]

Anyone watching this thread still around?

[Logic 10]

I'm always around the computer.

[forrestang 10]

I'm always around the computer.

 

Yay! Me too.

 

I have a few questions if you or anyone else has the time.

 

The Theory:

OBJECTIVE buying and selling of HLs and LHs. As stated elsewhere the idea isn't necessarily trading trend, but trading oscillations.

 

Overall trend is determined by the erg from the 'strength' chart, which is one fractal higher/slower than the 'trading' chart. If that erg is above zero general trend is up, so we'd be looking to buy HLs? If the erg is below zero, general trend is down, so we'd be looking to sell LHs?

 

I guess the next line of questions would be WHEN to enter on that pullback that is occuring? The idea is to wait for a 'Prime' pullback of the HISTOGRAM on the 'trading' chart, or your MIDDLE bar interval chart.

 

Once this occurs, the entry, is it based on an oscillation of histogram color of the MIDDLE chart, or do you look to the ENTRY chart, and look for an entry as the erg from the ENTRY chart breaks back through the prime level?

 

The exits I am unclear of. I have read the rules, the problem it seems is the deciphering of what all that means if that makes any sense?

 

I have attached a pic of the idea as I understand it so far. I am HIGHLY confused still.

[Logic 10]

Yay! Me too.

 

I have a few questions if you or anyone else has the time.

 

The Theory:

OBJECTIVE buying and selling of HLs and LHs. As stated elsewhere the idea isn't necessarily trading trend, but trading oscillations.

 

Overall trend is determined by the erg from the 'strength' chart, which is one fractal higher/slower than the 'trading' chart. If that erg is above zero general trend is up, so we'd be looking to buy HLs? If the erg is below zero, general trend is down, so we'd be looking to sell LHs?

 

I guess the next line of questions would be WHEN to enter on that pullback that is occuring? The idea is to wait for a 'Prime' pullback of the HISTOGRAM on the 'trading' chart, or your MIDDLE bar interval chart.

 

Once this occurs, the entry, is it based on an oscillation of histogram color of the MIDDLE chart, or do you look to the ENTRY chart, and look for an entry as the erg from the ENTRY chart breaks back through the prime level?

 

The exits I am unclear of. I have read the rules, the problem it seems is the deciphering of what all that means if that makes any sense?

 

I have attached a pic of the idea as I understand it so far. I am HIGHLY confused still.

 

I'm currently annotating the Crude chart for Monday and Tuesday for a student to show him how to trade during consolidation. Give me a 15 minutes and I'll post it here. I promise it to be detailed.

[Logic 10]

Here is a chart covering 2 days of Crude Oil (Monday & Tuesday).

This shows entries, exits, recognizing and trading in consolidation.

[forrestang 10]

The labels that used to be there seem to be gone, but it looks like you're selling as price is making HHs? Like on that leg up at the beginning of the chart?

 

I was under the assumption that the idea was to sell LHs and buy HLs?

[Logic 10]

The labels that used to be there seem to be gone, but it looks like you're selling as price is making HHs? Like on that leg up at the beginning of the chart?

 

I was under the assumption that the idea was to sell LHs and buy HLs?

 

I've improved on the technique by giving everyone the ability to trade using strength and the oscillations. the strength indicator is the one on the bottom. In a few weeks I will detail the improvements on here.

[forrestang 10]

I have a few questions on the way the chart is built in NT7?

 

Say I had 1 chart open in NT7 with the indicator set put on them. The labels that are on the price..... They are the labels that would be created by the oscillations based on the ERG from the NEXT FASTER chart correct?

 

OR..... is the erg present on the chart simply create the labels based on minor oscillations from the erg on THIS CHART, and the prime oscillations used to measure STRENGTH. By 'Strength' I mean say a prime oscillation occurs on the chart, and this places the major swing points.......that is the MAJOR trend like L-H-HL-HH? And all the PPF labels are created via the minor oscillations of this erg?

 

I guess I am asking using the NT7 indicator, how would I set up my charts? There are 3 settings, Trend, Strength and Trading. Would I need 2 separate charts, or is all the information needed on one chart? If any of that makes sense?