So true. I think JH2.0 was just his attempt to automate. it may help some but is not needed.P.S.
I think you are over complicate this stuff. In reality it's very simplebut not easy.
fortes fortuna juvat
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All of Spyder's channels are valid one.
Not sure what you mean, but if you intended to be derogatory, in my opinion Spydertrader doesn't deserve that.
Like most others here who have a modicum of dangerous knowledge on the subject of JHPV, I'll let it be known, in passing, that the "spyder was a hack" comment is not called for, and imo, baseless. Everyone is entitled to their opinion.
That said, I dug up text of a Jack post regarding VE. It confirms the validity of the "extra blue lines". And also offers a possible explanation (I say possible, because volume is not shown) for why the "green channel" may (or may not) be valid.
I think there are 2, what I consider basic "rules", that many/most "forget"...
1) VE only occurs after point 3
2) FTT is not a requirement for completion.
Wish you included the volume.
This is being tested within an automated system.I do not add volume to the mix.
According spydertrader one should look for FTT even after VE.
It's easy to see on spyder's charts below.
15:30 Bar
14:50 Bar
10:55 Bar
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From my dataset:
1) Correct.
On the fastest fractal, a pt3 can be bwt the 2nd and third leg of a bar, the VE being within the 3rd leg.
Or more common, the 2nd bar of a two bar combination.
Or on the n+1 bar of a n +1 bar combination, n>=1. This is typical of a lateral movement prior to a BO and VE or FBO and FTT of traverse/channel or BO on one fractal and then FTT on faster fractal.
2) Incorrect. FTT's always occur after a pt 3 either before or after a VE. When Pace accelerates then VE. When Pace de-accelerates then FTT. A VE is not necessary for completion but a FTT by it's nature is a completion. Whether an exhaustion of the current dominant or an interruption by a new opposite dominant.
Of the three turns, two go to Dominant.
C turns - Dom to Dom,
2 and multi bar formations - B2B, R2R, and single bar formations OB (IBGS)
B turns - Non Dom to Dom - 2B, 2R, OB (IBGS)
Sometimes price lifts on low volume but only on a larger (frequently unseen) short channel.
Tiddlywinks, The FTT can occur within a bar perhaps this is what you mean. If you have an example at hand, it would be interesting to see the difference.
His work speaks for itself and deserves the highest respect. Different people need to hear it in different ways. I derived tremendous value from Spydertrader's work. He helped open up Jack's concepts to countless folks including me and was an exceptional example of transference and paying it forward. I became profitable from his approach in teaching Jack's material.
He walked his talk and supported others to do the same.
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