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walterw

What Really is Momentum ?

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  daedalus said:
^^ Appreciate the OEC conversion... Gonna take a look at it today. Cheers!

 

By setting the Icycle colour to ‘transparent’ I only see the unbound cycle.

In this format (unbound) this indicator is excellent to spot divergences, I did superimpose few indicators (ROC, Momentum and 3/10 MACD) and found TCC impressing.

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Sounds nice, we got now the unbound ( non capped Version ) on TOS, OEC ( courtesy trendup), and NT (courtesy Kit )... anyway we can program an unbound version for TS ?... so far the one I posted here is a capped one... cheers Walter.

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  Trendup_ said:
TCC2. txt in post #49 should work with TS and MC, just need to be compiled.

 

Ok got it... thanks Trendup for guidance, I attach the TCC2 indi for TS without +-1 capping... it will look exactly the same as the ones I am showing on TOS... Specially on ES we had the issue because the values on the euro are so small they never reached +-1 to get capped...

 

The default inputs are the ones used on EUR/USD... cheers Walter.

TCC2.ELDFetching info...

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  Kit said:
Usefull method..indicator to determine correct momentum condition to trade the

 

chimp method or another, when we realy need in strong inertia of the market, I begin better

 

descerning when trade or not by the chimp. Thank you Walter. :) Let me share indicator,

 

which I find on net, make little bit changes in code and now it looks same as on

 

thinkoswim.

 

p.s for NT.

 

Thanks Kit for the NT version you posted, took a look on it and works just fine, exactly as the TOS one...

 

Was wondering if you could create a new version that could trigger a sound alert when it crosses out the thresholds levels... If you can program that it wold be much appreciated... thanks Walter.

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  Kit said:
Try to add alert when indicator cross 0.0005/-0.0005 levels,.... but in that case we can't

 

manage levels( where you want hear alerts), type of alerts and on/off alert by extern settings

 

panel... only by NinjaScriptEditor:confused: It will be great if someone can make it

 

indicator correct.

 

Thanks Kit, I will take a look on it... cheers Walter.

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So lets see how EUR/USD did monday and tuesday... on monday the US session was impressive, the more further from the threshold box, te more momentum you can expect... cheers Walter.

5aa71023b7ef9_mondayeuro.thumb.png.365efd377eb724306cd69e6b5fe1e412.png

5aa71023c0af6_tuesdayeuro.thumb.png.242f36632bb8709c34245e635c1a69fb.png

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Check previos indicator...it not ringing :(, dont know why( for MT4 write alert-mesage more

 

simple that for NT) Rewrite alerts block( take some examples from another forums), check it,

 

now it make alert when indicators line cross level that you can change from "settings", also

 

possible change on/off and alert file name.

CCAlert.zipFetching info...

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  Kit said:
....and little bit more changes in indicator: add friquency settings and now it will ringing only

 

during next bar after crossing momentum level( shure it more comfortable then previos)

Sounds great Kit, I am very greatfull for your contribution. I will be taking a look on the alarms during live trading hours next week... have a great weekend, cheers Walter.

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Hello fellow traders hope you got a great weekend and a great monday trading you all ¡¡

 

I will post now the EUR/USD momentum contexts charts for friday and today monday... you will notice how news on friday gave us a great momentum burst to the upside...

 

On the other hand today we did not have US news, giving a very chopy range wise trading that could only work ok with RRR type strategies...

5aa7102565dc2_friday1.thumb.png.d44eba68b5a78767ef5b0a3799f6c883.png

5aa710256edc2_friday2.thumb.png.d947400879791816cc5b870aa37a4ae1.png

monday.thumb.png.d9b7a4ca7c9f143fabfa6a5be7566bf5.png

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And lets see how an ES trader did on friday... with great momentum climate...

 

and how today monday, our indicator told him to stay out on choppiness....

 

As you can see this momentum filter may help a lot of traders that need to know when to use their normal strategies and when to avoid them due to more or not recomendable momentum conditions.... have a good one, cheers Walter.

5aa710257fc47_esfriday.thumb.png.f2f27a7d767bd61770b712c1caf9058c.png

5aa7102588938_esmonday.thumb.png.4e308852b457813e7b1b3de2132d1885.png

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Seems like a real simple method using this momentum filter would simply be to wait for counter trend pullbacks and sell the continuation using buy/sell stops at prior highs or lows of the swings.

 

This is kind of similar to how you trade using pullbacks and ADXVMA's isn't walter?

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  daedalus said:
Seems like a real simple method using this momentum filter would simply be to wait for counter trend pullbacks and sell the continuation using buy/sell stops at prior highs or lows of the swings.

 

This is kind of similar to how you trade using pullbacks and ADXVMA's isn't walter?

 

Well as any other trend trade, I trade subcicles from cycles... my true edge I believe is how I put in perspective RRR into a method... unfortunately cant explain much here as I decided to keep it private, but still there are several methods from mine here on TL that follow the same filosofy...

 

Now adding this momentum filter can give an extra edge to the trend trader... cheers Walter.

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Well that really looks cool Trendup... Its so straightforward the reading of this momentum filter that it can really organize the visual of whats going on to the trader... cheers Walter

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  Kit said:
....and little bit more changes in indicator: add friquency settings and now it will ringing only

 

during next bar after crossing momentum level( shure it more comfortable then previos)

 

Hi Kit, this one seems to work ok when it crosses outside of the threshold level... how can I choose a sound wave and wich folder should be used for this sounds files... thanks a lot, Walter.

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Hello Walter, to choose/change sound file, just write name of the file ( name . wav) in to the

 

indicator settings - "AlertWavFileName". C:\Program Files\NinjaTrader 6.5\sounds - it folder

 

for sound files. Hope I correct understand you.

 

P,S I add in last indicator popup-window function :cool:

CyberCycle.zipFetching info...

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Hello Everyone, hope you guys are enjoying your trading as usual....

 

I attach once again our momentum filter indicator... you may notice on the EUR/USD what a great move we had during this filter conditions... take care, cheers Walter.

5aa7102ae7395_eurusd25-8.thumb.png.c9ea776271c8546ce891f6045cecc4bb.png

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Hi Walter. I count your moves as 1 and 2, also add 3,4. The 3-d move can give as some profit

 

(with reenter trade,depending from approach), 4-d probably loss trade, because downmove will

 

not develop. I want to ask about criteries, when you find that market on momentum. For

 

example I like to see that indicator out of (-1) - 1 (0,001) zones and inflections not touch -0,5-

 

0,5(0,0005) lines. Sorry if question not exactly about theme of the thread.

 

Regards.

eur_bot.thumb.gif.e0c5c7846280ef0b185e0fe0437ad546.gif

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Hi Kit, well you see that would be a complete different issue actually as how would you time your entries and manage your exits ( key part to success ).

 

My Filosofy is that any given method MUST have a very clear set of rules for ENTRY , EXIT and STOP ... when you combine entry/exit (profit potential) vs entry/stop ( risk potencial ) you get a RRR ( Risk Reward Ratio )... under smart and racional thinking, the RRR should always be positive... That means stops should be smaller than exits, in relation to the very same entry...

 

So having a good RRR depends on the methodology you have that has embeded this RRR considerations into it.

 

There are several threads from mine here on this forum wich have aproaches that favor a good RRR... my private method also lives thanks to a good RRR...

 

NOW, the momentum filter in this case would be some sort of climate where you may consider trading or not trading if you dont have this conditions...

 

So myself I persoanlly would not develop from this indicator itself a RRR aproach... as I consider it is not the best indicator for the RRR issues... but I found it to be an interesting filter for momentum climate conditions...

 

If you would ask me for a thread here on TL that would be one of the best of mine in terms of RRR... I would choose this one http://www.traderslaboratory.com/forums/f24/walter-s-forex-trend-trades-2364.html

 

Thats the pre-evolution of what then became my propietary stuff... but its really a great begining into a sound RRR aproach... even a trader can adapt his timeframes (larger or smaller) to suit his style...

 

Hope that answers Kit, sorry I can not create more new stuff as I decided my personal technical stuff is for good, and no more new technicals I need to create any more...

 

I notice you have the indi on mt4... is it shareable ? thanks Walter.

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