Iterative Refinement

Quote from LittleMac:

Yea I understand but how do you know at the point 3 of the light blue channel in my chart that it is not the actual channel yet. Was the channel established before that point or does the channel not establish til after that point(basically where the dark blue channel becomes evident)
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The channel did establish itself at the end of november (at your B2B). I don't think your R2R is correct, so the B2B is still in effect. You should allign your channel so it starts with the B2B.

Also, I have enclosed your chart to this post. Take a look at my 'circles'. If it was a dominant traverse in a up-channel, you should have increasing black volume. On your chart you have decreasing red volume. As they should match, you can conclude that you should redraw the channel.

Furthermore, if you look at the fast stochastic, you'll see that it turns just after each FTT. I have started you use fast stochastic as a help to identify FTT's. Maybe it can help you too :)

I hope the above clarifies things a little :)
 

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Quote from ivob:

If volume doesn't 'drop off' at the Open like today. Wat does that mean?
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It could mean any number of things. However, when 'Volume Drop Off' does materialize, you do know what such circumstances represent.

- Spydertrader
 
Quote from Munck:

I'm very interested in knowing more about the new software you mentioned. So if you care to tell, I (and assume many others) are eagarly listening :)
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Once I have had an opportunity to thoroughly evaluate the available platforms, I'll gladly provide a recommendation. Expect some additional information, either just before, or just after, the NYC Traders Expo. This includes a platform for both Futures Traders and Equities Traders (Forex and Options too).

- Spydertrader
 
Below is a screen shot of a model that I have been developing (its a work in progress). It consists of three OHLC-volume charts with automatic lateral and pennant annotations and logic for flaws and continuation/change. Eash chart is a “moving window” of the last 10 bars. The other day I had somewhat of an AH-HA moment regarding continuation/change. As it has been said many, many times before, by the end of each bar, volume and price will tell you one of two things: Continuation or Change. If it hasn’t told you change, then you can expect continuation. And, you will know this AT SOME POINT based on PRV weather or not you have continuation or change. So I decided to simply model continuation or change to “point out the obvious.” The blue up and down arrows are based on this logic. You can think of it as sort of a “Dynamic” Jokari Window. You can't trade purely off these, but they are there as a reminder. I added additional logic for flaws. If the volume of a bar is less than 60% of the previous bar, it is flagged as a flaw. Some other annotations made are the % complete of the PRV (the blue % number in the cross-hatched PRV of the current bar). This gives me a visual of how far along the bar is. The other thing I label is the % change of the bars volume compared to the previous bar. This gives me a number of the juice behind the moves. The model automatically takes pdf snapshots every 15 seconds which I can review later in the day. I am working on taking all those "snapshops" and making a video, but I end up with a REALLY BIG file. It's a work in progress, but I thought I would share. I am working on the FTT logic, but that may take a while!

Temp_01-14_152139.gif
 

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Quick question on using my tick chart....
I noticed this today and am wondering if it is significant.

Is this volume change on the tick chart one of my clues for change?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1748291>
 

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I wonder if automatic annotation helps... For me annotation has to be an active (not passive) process, that puts me in tune with the market. There are almost no two identical situations in the market, and having something else pointing me in one direction might obscure other possibilities, and might throw me off course.

What is your opinion on this?
Quote from Spydertrader:

Testing New Charting Software. All annotations (arrows, highlights, etc.) from within the Charting Software.
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Quote from WGTrader:

Below is a screen shot of a model that I have been developing (its a work in progress). It consists of three OHLC-volume charts with automatic lateral and pennant annotations and logic for flaws and continuation/change. Eash chart is a “moving window” of the last 10 bars. The other day I had somewhat of an AH-HA moment regarding continuation/change. As it has been said many, many times before, by the end of each bar, volume and price will tell you one of two things: Continuation or Change. If it hasn’t told you change, then you can expect continuation. And, you will know this AT SOME POINT based on PRV weather or not you have continuation or change. So I decided to simply model continuation or change to “point out the obvious.” The blue up and down arrows are based on this logic. You can think of it as sort of a “Dynamic” Jokari Window. You can't trade purely off these, but they are there as a reminder. I added additional logic for flaws. If the volume of a bar is less than 60% of the previous bar, it is flagged as a flaw. Some other annotations made are the % complete of the PRV (the blue % number in the cross-hatched PRV of the current bar). This gives me a visual of how far along the bar is. The other thing I label is the % change of the bars volume compared to the previous bar. This gives me a number of the juice behind the moves. The model automatically takes pdf snapshots every 15 seconds which I can review later in the day. I am working on taking all those "snapshops" and making a video, but I end up with a REALLY BIG file. It's a work in progress, but I thought I would share. I am working on the FTT logic, but that may take a while!
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Wow, thats pretty good stuff WG. Nice.
 
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