FishNet

If you do have some basic concepts people should follow, it would be very helpful. Otherwise, it's like shooting in the dark and I don't think many people will want to do that, unless they are truly desperate.

TM Trader
 
I saw a similar one to the fishnet, a whole series of stochastics rather than moving averages, the guy that invented it was actually doing pretty good at looking ahead a few days, he could say which issues were going to peak within the next couple of days or something like that, was accurate for a period of time then it would be innacurate for awhile, accurate a lot more than not, it did not quite broach the threshold of usability for what I'm doing.

Thanks for the code and the references, always happy to check out anything and everything and always looking for new ideas.

:D
 
Basically when the fishnet is pointing toward one direction, and price is reversing, you would look for a "slingshot" back towards the trend. Your entries can be based on candlestick patterns or some other indicator.

It's kind of like pulling a rubber band and then releasing it. You really don't need a program that has a "fishnet" indicator. For example, to make a RSI fishnet, just keep plotting a different RSI on the same chart region. Try length increments of say 10.

10, 20 , 30 , 40...etc. until you get a good looking fishnet.

I guess the point of the fishnet is to easily identify the bigger trend and timing pullback entries. Just another visual aid.
 
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