Attached is my first attempt at drawing the channels and annotations using the Jack Hershey method.
Beyond the hype of hershey futures method journal
- Thread starter RoughTrader
- Start date
Ok, it's been a while, but I've been busy coding the tapes and channels.
I've reached a milestone of sorts, building the foundation for tracking and constructing tapes and the channels that capture those tapes.
Please look at the attached image. It shows the tapes and channels in indicator form being mapped out in real time for today's ES session.
As a start, I'll provide a little background on what's what, and then we can go from there.
The primary chart is a 1m ES chart. I use this chart to build synthetic 5m bars and store them in memory. I use these 5m bars to construct the sequence of tapes.
Note that I don't draw RTL and LTL for tapes, rather a lightgray or darkred line from L to H or H to L of the tape, depending on direction.
The numbers are the 1-2-3 formations, with color indicating direction of the new channel that the formation starts.
The volume bars are also based off the 1m chart, but are synthesized to accumulate and dump every 5 minutes. This yields the actual 5 m volume. The bright green volume bar at the most current bar is the PRV, and that is progressing real-time.
I have made the system of tapes and channels programable so that I can enter any fractal. I have chosen 5m, but I can change it to 10m, 15m, 30m, etc. by changing the fractal factor in the input. Any integer multiple of the bar interval of the primary chart is possible.
If you have questions for me, let's keep posting. I also have some questions to be clarified, so I'll post those as I think of them.
Let's get the ball rolling.
RoughTrader
I've reached a milestone of sorts, building the foundation for tracking and constructing tapes and the channels that capture those tapes.
Please look at the attached image. It shows the tapes and channels in indicator form being mapped out in real time for today's ES session.
As a start, I'll provide a little background on what's what, and then we can go from there.
The primary chart is a 1m ES chart. I use this chart to build synthetic 5m bars and store them in memory. I use these 5m bars to construct the sequence of tapes.
Note that I don't draw RTL and LTL for tapes, rather a lightgray or darkred line from L to H or H to L of the tape, depending on direction.
The numbers are the 1-2-3 formations, with color indicating direction of the new channel that the formation starts.
The volume bars are also based off the 1m chart, but are synthesized to accumulate and dump every 5 minutes. This yields the actual 5 m volume. The bright green volume bar at the most current bar is the PRV, and that is progressing real-time.
I have made the system of tapes and channels programable so that I can enter any fractal. I have chosen 5m, but I can change it to 10m, 15m, 30m, etc. by changing the fractal factor in the input. Any integer multiple of the bar interval of the primary chart is possible.
If you have questions for me, let's keep posting. I also have some questions to be clarified, so I'll post those as I think of them.
Let's get the ball rolling.
RoughTrader
Here is the same chart with tapes and channels set for 15m fractal.
RoughTrader
RoughTrader
Quote from nkhoi:
pretty impressive in how closely your auto channel matching against the 'gold' standard.
It's a direct consequence of stacking rule sets one on top of the other. The foundation rule set (how to properly construct tapes from individual bars) is built first. Upon this foundation is the rule set on how to build channels. Once this is done, the rule set for annotation (FTT, BO, FBO, etc. etc.) is built upon the channels, which are used as a context for price.
If rules are carefully and precisely described for each layer, the end result will be a consistent synthesis of the rules prescribed by the authorities.
At this point, I am constantly reviewing the rules of each layer, seeing if I am missing anything. I probably am, and will see If I can patch those holes with this thread.
RoughTrader
I understand what you are saying. What I have noticed, though, is that the mostly the up and down tapes that are constructed by my code line up precisely with the build-up and build-down of volume (gaussians). The cases where they are not consistent are the following:
1) hitches
2) stalls
3) rare 1m bars that see huge volume but little price translation
number 3 occurs very rarey, and is indicative of 1,2 or a turning point where long and short interest are both heavy and fighting each other.
In general, one can look at it this way: dominant and non-dominant price translations happens as a result of market participation, reflected in volume. If the tapes capture the price translation correctly, they will in turn also capture volume translation correctly too.
I am currently in the process of auto-notating gaussian formations in the volume indicator, I'll post that when I've completed it sufficiently.
RoughTrader
Here is today's chart so far.
RoughTrader
RoughTrader