Anyone use my method?

[mli88]

Has anyone used data feed from interactive brokers (IB) for nopm's method? I am trying SierraChart.com product to get intraday chart, but CCI and ADX charting do not look right. Thanks.

 

[mli88]

Ilango,

The chart your posted only showed that the second divergence is a real one. The first is not divergence from what I can see.

And the second signal actually generated a profitable signal.

 

[mark1]

why the first one is not a divergence?

I can see lower low on oscillator and higher high on price.
And I'd say the first one was even very clear compared to the 2nd one

Care to explain ?
TIA

 

[ufo808]

Does anyone use this method for trading the YM, or is it specifically for ES only?

Thanks all.

PS thanks nopm for sharing too.

 

[jdollarr]

ilganzo, what are your settings for the Keltner channel? I put up the ES chart for that day and my chart does not look similar to yours, are you running a 24 hr chart?

 

[ilganzo]

Quote from jdollarr:

ilganzo, what are your settings for the Keltner channel? I put up the ES chart for that day and my chart does not look similar to yours, are you running a 24 hr chart?

Keltner channels are set to 20 periods on my 5min chart.

 

[FuturesTrader71]

Quote from jdollarr:

ilganzo, what are your settings for the Keltner channel? I put up the ES chart for that day and my chart does not look similar to yours, are you running a 24 hr chart?

Doesn't match mine either. It looks the same if the bands are set to 100% rather than 250%. I have dropped Ilganzo a PM. I hope he will reply here instead.

 

[ilganzo]

Quote from FuturesTrader71:

Doesn't match mine either. It looks the same if the bands are set to 100% rather than 250%. I have dropped Ilganzo a PM. I hope he will reply here instead.

You're right, my eSignal formula calculates bands using the average H-L. It doesn't have any multiplier to adjust the bands.

...
for(i = 0; i < nInputLength; i++) {
    vHLC3 += (vHigh[i] + vLow[i] + vClose[i]) / 3;
    vHminL += vHigh[i] - vLow[i];
}

vHLC3 /= nInputLength;
vHminL /= nInputLength;

return new Array(vHLC3 + vHminL, vHLC3, vHLC3 - vHminL);
}

I added a multiplier to the EFS, see the attachments.
BTW, if Keltner bands are based on ATR values, this formula still doesn't look right to me: it's using the current bar High and Low where ATR looks at the previous bar too to calculate the highest differential.

 

[ilganzo]

That's my ES chart with the revised formula for Friday.

 

[FuturesTrader71]

Looks close. Chart revised.