Yep, I only misseed approximately 30 fricking points!!
AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Yep, I only misseed approximately 30 fricking points!!
Yes, I was using the 60 minute anchor chart for the ES this morning. I saw it break a 3 or 4 day trend, made a couple points, but was too naive to let it run.
I have been trading stocks for about 1 year now, but I think I will focus 100% on futures from here on out.
When something meaningful happens on a big chart, pay attention.
Look how much the NQ gave back by breaking the daily trendline last week.
The bigger the chart the more important the technicals. In contrast the smaller, the fastest, the more noise and insignificant moves you will witness.
Anek
Yes, definitely. I was half joking. Really, I'm just happy to be in the green after 4 days of trading!
Thanks for all of your help!
For anybody using QT here is a simple code for a paintbar that will put a shape above the candle for a doji. Usefull when a a trend is in progress and it pauses before you re-enter among other things.
if ABS(Bar Close-Bar Open)<0.001 set color to Yellow
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if ABS(Bar Close-Bar Open)<0.001 set color to Yellow
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Quote from cchili00:
Something I've noticed a lot with some of the people struggling with entries on pullbacks.... it's important to wait for the chart to tell you that the pullback is over and the trend is resuming. In other words, you can't try and "guess" where the pullback is gonna end and just blindly take a shot at it. Wait for resistance within the pullback to show itself (for longs) and enter as that minor resistance is taken out. Anek went into a very detailed explanation of this a while back in the journal using the "strong bar" to indicate a return of strength with the trend. I keep seeing people try to buy the very bottoms of pullbacks, instead of waiting for confirmation of strength. Sometimes you get lucky and it works, but it is guessing at best, and that is one thing we never want to do. Just my .02
Thanks for that helpful reminder. Reading back over the journal I noticed there has been mention of the 3 bar reversal by StealthTrader, and now a helpful reminder to enter when minor resistance is broken. What about when the pullback (in a long) is just a series of red candles with lower lows and lower highs with no obvious minor resistance? Would one enter with the first bullish candle that appears -say 1 tick higher than the close of that bullish candle? How does one combine this technique with entering when previous resistance has now become support? Thanks.
Tick Money Flow
A possible upcoming enhancement to AHG, possible being the keyword here.
This indicator was written by John Hudson, it pretty much measures where the big money is going. In other words, what's important.
I'm still in the preliminary stages of my studies behind the TMF but here is a real quick summary.
As an oscillator, watch the trend, highs, lows of the buying/selling pressure in comparison to price.
As a plot on the tick/volume charts watch divergence between price and the TMF.
This tool is NOT a signal it is a confirmation meant to increase accuracy when searching for entries, perhaps exits too. Price is and always will be king, this one you could call, prince?
I like to add two instances, one to the chart as a line plot to look for divergences, and another as an oscillator to study its trend more carefully. That's right, you load it twice.
Since this is not my own work I will let you guys do most of the research as I do my own and perhaps in the future we can compare notes and share them here.
Attached please find the code for Tradestation and a quick chart so you can see one of its capabilities/potential.
So far, i like what I see but no final conclusion, yet.
Make sure you realize this is a slightly more advanced tool than the usual stuff so take your time to digest it well. Works much better on fast tick/volume charts, 55, 89, 144, 233 tick (max) seems ok, 610 tick too slow for it imho. Depends on the instrument too, make sure to do your research.
The reason why I like it so far it's because it seems to be something very similar to reading the tape.
One final note, due to the mechanics of the indicator, this only works in REAL TIME, if you lose connection or reset the workspace the past data will dissappear since calculations are done on present bid/ask pressure and you lose it all. It will start plotting again once the connection is re-established. So you won't see it in action until regular market hours are here.
Inputs: Length1(500),Length2(100), upcolorPlus(blue), dncolorPlus(red), upcolorMinus(yellow), dncolorMinus(darkbrown), colorbar(1);
Vars: IntrabarPersist TickFlag(0),
IntrabarPersist OldPrice(0),
IntrabarPersist TMF(0),
IntrabarPersist NewTickVol(0),
IntrabarPersist MyBarVolume(0);
if BarNumber >= 1 then
begin
NewTickVol = Ticks - MyBarVolume;
MyBarVolume = MyBarVolume + NewTickVol;
if (C>=CurrentAsk) then begin
TMF=TMF + (C * NewTickVol);
TickFlag = 1;
end;
if (C<=CurrentBid) then begin
TMF=TMF - (C * NewTickVol);
TickFlag = 2;
end;
if (C<CurrentAsk and C>CurrentBid) and C>OldPrice then TMF=TMF + (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C<OldPrice then TMF=TMF - (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 1 then TMF=TMF + (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 2 then TMF=TMF - (C*NewTickVol);
OldPrice = C;
if BarStatus(1) = 2 then MyBarVolume = 0;
end;
Plot1(TMF, "TMF");
Plot2(0, "Zero");
if (TMF > TMF[1]) then
begin
if (TMF >=0) then
SetPlotColor[colorbar](1, upcolorPlus)
else
SetPlotColor[colorbar](1, upcolorMinus);
end
else if (TMF < TMF[1]) then
begin
if (TMF >=0) then
SetPlotColor[colorbar](1, dncolorPlus)
else
SetPlotColor[colorbar](1, dncolorMinus);
end;
Plot2(LinearRegValue(Plot1,Length1,0));
Plot3(LinearRegValue(Plot1,Length2,0));
For the instance that you load on the charts, delete the last two lines or the last two plots as you only want the red line on the chart.
A possible upcoming enhancement to AHG, possible being the keyword here.
This indicator was written by John Hudson, it pretty much measures where the big money is going. In other words, what's important.
I'm still in the preliminary stages of my studies behind the TMF but here is a real quick summary.
As an oscillator, watch the trend, highs, lows of the buying/selling pressure in comparison to price.
As a plot on the tick/volume charts watch divergence between price and the TMF.
This tool is NOT a signal it is a confirmation meant to increase accuracy when searching for entries, perhaps exits too. Price is and always will be king, this one you could call, prince?
I like to add two instances, one to the chart as a line plot to look for divergences, and another as an oscillator to study its trend more carefully. That's right, you load it twice.
Since this is not my own work I will let you guys do most of the research as I do my own and perhaps in the future we can compare notes and share them here.
Attached please find the code for Tradestation and a quick chart so you can see one of its capabilities/potential.
So far, i like what I see but no final conclusion, yet.
Make sure you realize this is a slightly more advanced tool than the usual stuff so take your time to digest it well. Works much better on fast tick/volume charts, 55, 89, 144, 233 tick (max) seems ok, 610 tick too slow for it imho. Depends on the instrument too, make sure to do your research.
The reason why I like it so far it's because it seems to be something very similar to reading the tape.
One final note, due to the mechanics of the indicator, this only works in REAL TIME, if you lose connection or reset the workspace the past data will dissappear since calculations are done on present bid/ask pressure and you lose it all. It will start plotting again once the connection is re-established. So you won't see it in action until regular market hours are here.
Inputs: Length1(500),Length2(100), upcolorPlus(blue), dncolorPlus(red), upcolorMinus(yellow), dncolorMinus(darkbrown), colorbar(1);
Vars: IntrabarPersist TickFlag(0),
IntrabarPersist OldPrice(0),
IntrabarPersist TMF(0),
IntrabarPersist NewTickVol(0),
IntrabarPersist MyBarVolume(0);
if BarNumber >= 1 then
begin
NewTickVol = Ticks - MyBarVolume;
MyBarVolume = MyBarVolume + NewTickVol;
if (C>=CurrentAsk) then begin
TMF=TMF + (C * NewTickVol);
TickFlag = 1;
end;
if (C<=CurrentBid) then begin
TMF=TMF - (C * NewTickVol);
TickFlag = 2;
end;
if (C<CurrentAsk and C>CurrentBid) and C>OldPrice then TMF=TMF + (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C<OldPrice then TMF=TMF - (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 1 then TMF=TMF + (C*NewTickVol);
if (C<CurrentAsk and C>CurrentBid) and C=OldPrice and TickFlag = 2 then TMF=TMF - (C*NewTickVol);
OldPrice = C;
if BarStatus(1) = 2 then MyBarVolume = 0;
end;
Plot1(TMF, "TMF");
Plot2(0, "Zero");
if (TMF > TMF[1]) then
begin
if (TMF >=0) then
SetPlotColor[colorbar](1, upcolorPlus)
else
SetPlotColor[colorbar](1, upcolorMinus);
end
else if (TMF < TMF[1]) then
begin
if (TMF >=0) then
SetPlotColor[colorbar](1, dncolorPlus)
else
SetPlotColor[colorbar](1, dncolorMinus);
end;
Plot2(LinearRegValue(Plot1,Length1,0));
Plot3(LinearRegValue(Plot1,Length2,0));
For the instance that you load on the charts, delete the last two lines or the last two plots as you only want the red line on the chart.
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