AHG - Profitable Strategy for Struggling Traders

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I agree with BMW. Take a look at the anchor chart (NQ 10000V) to see the downtrend.

Monday's close was in the 38.2% - 50% retracement area from the 12/18 low, so wouldn't be surprised to see a turn soon, but have to wait for confirmation of that (HH and HL).
 
jychiu,

The Tickvalue in TS(EL) is computed as MinMove.

MinMove/PriceScale gives the Minimum Tradable tick for any instrument.

So, you can have MagicTick input to allow users for 1, 2,3... magicticks.

Then have a variable: MT(0);

MT = MagicTick*(MinMove/PriceScale);

::::::::
::::::::

Plot1(High[1]+MT,"buyp",BuyColor);
Alert("3BR Buy");

::::::::
::::::::

Plot2(Low[1]-MT,"sellp",SellColor);
Alert("3BR Sell");

::::::::
::::::::
Regards,
Suri


Quote from jychiu:

Just learn a bit on the Easy Language on TradeStation and wrote my first ShowMe code on 3 Bar Reversal.

This is written to have a 'dot' printed on the magic tick on the printbar when the signal is generated. As the tick size for various contract is different, the default is 0.25 (applicable for NQ and ES), you could change it to 0.1 in the 'Magictick' Input parameter for the ER2 contract.

To allow for Modified HA Paintbar to show simultaneously, the signal color can be changed at the 'BuyColor' & 'SellColor' input value as well. The default setting is 'Cyan' and 'Magenta' respectively.

Please see an attched price chart with the signal on the Friday morning NQ 1000 share volume chart (price action showme is set to on as well).
http://img233.imageshack.us/img233/4350/3barreversal1anq071231ey9.jpg

As it is my first code, error might be made or improvement can be made, your feedback is welcome. Tradestation 'alert' feature is programmed, you will need to enable it. When this signal is triggered you will be alerted.


Please see the ELD file attached and code :
--------------------------------------------
Inputs:
BuyColor(Cyan),
SellColor(Magenta),
Magictick(0.25);

If High>High[1] and Low>Low[1] and Low[1]>=Low[2] and Low[2]<=Low[3] and Low[3]<=Low[4] Then
Begin
Plot1(High[1]+Magictick,"buyp",BuyColor);
Alert("3BR Buy");
End;

If Low<Low[1] and High<High[1] and High[1]<=High[2] and High[2]>=High[3] and High[3]>=High[4] Then
Begin
Plot2(Low[1]-Magictick,"sellp",SellColor);
Alert("3BR Sell");
End;
------------------------------------------------
More...
 
Quote from Anekdoten:

I want to wish everyone reading my journal, actives and passives, a great new year, full of happiness, health, companionship and love.

I hope I was able to improve your trading by at least a little bit but in the end it is only you that's in charge of everything especially in the world of trading, a world full of psychological angels and demons.

Best of skill trading in 2008 from your AHG host,

Anek
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Anek,

Thank you for everything you have done to help all of us that have been struggling traders. I am very grateful for your help, as well as the help from others like Piscuy & Mark. What you have done by sharing is sure to change the lives of all those that take your teachings and apply them.

I hope you and your family enjoy a blessed and prosperous new year.

Chris
 
Suri,

Thank you for your input, I will try it out (you see this forum is a great place to learn from the seniors!).

As pointed out by babe714 that Martin Pring has a description of 2 and 3 bar reversal in his book, there are very little information on this elsewhere. Will you include this in your new revision of your book ?

Will you be able to give a definition of 3 bar reversal as there are several variations mentioned in this thread, but no one give a definition ? Probably I am asking too much ! But a definition coming from you will carry weight.

Chiu

Quote from suriNotes:

jychiu,

The Tickvalue in TS(EL) is computed as MinMove....

Suri
More...
 
jychiu,

Thanks for your post.

There is plenty of information on the web on one/two/three-bar patterns and
my book covers extensively three-bar patterns material...
Chapters 'Three Bar Groups', 'Market Structures'....

(1-3) bar patterns and its reversals were well discussed by
Gartley, Dunnigan, and Crabel in their books also... Other references may include
Nison's Candle patterns, Lockharts Market Structures, Williams Oops pattern, Joe Ross Books (?)...

A Three bar pattern is a powerful pattern and a simple comparision of Highs/Lows may not
fully justify its effectiveness. A Three Bar Pattern High/Low relative positions combination could
itself set to 81 variations... I don't want to bore you with the math, but A Full
Open/Close/High/Low relative positions on three bars can derive 41,472 pattern variations...
This number gets astronomical with 4, 5, 6.. bar OHLC combinations.

In simplistic terms, A Three Bar pattern may not always be a trading signal by itself but when used
as a 'Trigger' or part of other indicators/patterns, it may be quite effective. Also, Three Bar
patterns are more effective during the exhaustive moves to signal reversals than in the middle
of trends. Another concept must be included as Anek points out is 'Confluence'...

This topic is very elaborate and probably too academic but I'll leave you with few more ideas to think about Three Bar Paterns...

1. Range Comparision/Expansion
2. Include/Ignore Narrow Range Bars within the pattern
3. Wide-Range Bars
4. Gaps prior to ThreeBars or Within
5. Volume
6. Pattern formations near Pivots or near Daily Highs/Lows, MAs.
7. Compare Three Bar Patterns with Other Three Bar Patterns in Size, Locations etc.
8. ...

Regards,
Suri


Quote from jychiu:

Suri,

Thank you for your input, I will try it out (you see this forum is a great place to learn from the seniors!).

As pointed out by babe714 that Martin Pring has a description of 2 and 3 bar reversal in his book, there are very little information on this elsewhere. Will you include this in your new revision of your book ?

Will you be able to give a definition of 3 bar reversal as there are several variations mentioned in this thread, but no one give a definition ? Probably I am asking too much ! But a definition coming from you will carry weight.

Chiu
More...
 
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