some notes on data difference:
http://www.elitetrader.com/vb/showthread.php?s=&postid=2028332#post2028332
Iterative Refinement
- Thread starter Spydertrader
- Start date
some notes on data difference:
http://www.elitetrader.com/vb/showthread.php?s=&postid=2028332#post2028332
I keep this as a reminder:http://www.elitetrader.com/vb/showthread.php?s=&postid=1804531#post1804531
Hi Spyder,
A question re the Jokari Window signals.
In the snippet above the first ellipse (green) shows a JW triplet which indicates continuation of the current trend. The second ellipse (blue) gives a JW triplet which indicates change at the traverse level.
I thought that a JW signal would be acted on during or after the last bar in the triplet. Thus with the first threesome you would still be holding long at the end of the third bar while with the second threesome you would make a decision to go short sometime during the third bar or at the end of the third bar.
I understand why there is no indication to act on the JW change signal present in the red bar down cascade.
Is this stuff correct? Is there some other way I should be looking at what the JW siganl is 'saying'?
TIA
lj
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2028163>
My question may be similar to lj. The first highlighted bar [14:00 on this chart] has increasing volume and increasing price. So I don't see why it's a JW change on this level. We do have increasing volume and decreasing volatility, another type of change. And it does pull back off it's highs, sort of spiking, and closes inside the previous bar.
How does that fit the JW change (as P and V are up), or have I missed something in the JW definition? - EZ
My question may be similar to lj. The first highlighted bar [14:00 on this chart] has increasing volume and increasing price. So I don't see why it's a JW change on this level. We do have increasing volume and decreasing volatility, another type of change. And it does pull back off it's highs, sort of spiking, and closes inside the previous bar.
How does that fit the JW change (as P and V are up), or have I missed something in the JW definition? - EZ
Spydertrader
Registered: Feb 2003
Posts: 7331
08-13-08 11:30 AM
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Quote from icarus618:
Do you believe the market must conform to your or anyone else's idea of what each and every 5 minute bar should do?
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It might be enlightening to read your reply to my question posed before this one: What do 5 minute bars show?
In any event my comments were directed toward a person who apparently has organized himself quite well to trade--he has the opportunity to monitor the market every day; he does so diligently and well enough to discern fine details of how price moves through the day; and he's acquired extensive knowledge and vocabulary about the method he uses to ask nuanced questions.
Except he doesn't put on a single trade.
He's like the person standing by the pool with his swim trunks on who wants to learn how to swim but he refuses to go into the water. He feels he lacks something. He's studied all about swimming, and every day he picks the brain of a person whose backstroke he admires. My intention was to give him, and others similarly situated, a little nudge. It is clear that there's no point for me to continue.
With regard to your comments, my reply follows:
You're leaving out a critical step. Knowing p3 is here. Do you believe the market always makes a p3 without exception?
Not sure I get you here. Every bar within the lateral represents continuation of WHAT? The lateral? If so, the lateral itself is change (nondominant movement) and the bars within it are not as neat as bars in a dominant (continuation); they will often falsely signal change from a PV standpoint, unless you know you're in a lateral and ignore the PV signals.
I'm missing something here. I see at least half a dozen change signals for bar 55. But I don't see where the signal for change is on bar 58.
I take it you mean each and every 5 minute bar. I'm not disagreeing with you, but I'd be interested to know what you think the 5 min bars really show.
Registered: Feb 2003
Posts: 7331
08-13-08 11:30 AM
--------------------------------------------------------------------------------
Quote from icarus618:
Do you believe the market must conform to your or anyone else's idea of what each and every 5 minute bar should do?
--------------------------------------------------------------------------------
It might be enlightening to read your reply to my question posed before this one: What do 5 minute bars show?
In any event my comments were directed toward a person who apparently has organized himself quite well to trade--he has the opportunity to monitor the market every day; he does so diligently and well enough to discern fine details of how price moves through the day; and he's acquired extensive knowledge and vocabulary about the method he uses to ask nuanced questions.
Except he doesn't put on a single trade.
He's like the person standing by the pool with his swim trunks on who wants to learn how to swim but he refuses to go into the water. He feels he lacks something. He's studied all about swimming, and every day he picks the brain of a person whose backstroke he admires. My intention was to give him, and others similarly situated, a little nudge. It is clear that there's no point for me to continue.
With regard to your comments, my reply follows:
I have no confusion about the use of WMCN here. I know you're not using it literally, as in "only one thing can come next."
Nothing to comment here except that overbalance is a market phenomenon I take notice of when it occurs.
You're leaving out a critical step. Knowing p3 is here. Do you believe the market always makes a p3 without exception?
Not sure I get you here. Every bar within the lateral represents continuation of WHAT? The lateral? If so, the lateral itself is change (nondominant movement) and the bars within it are not as neat as bars in a dominant (continuation); they will often falsely signal change from a PV standpoint, unless you know you're in a lateral and ignore the PV signals.
I'm missing something here. I see at least half a dozen change signals for bar 55. But I don't see where the signal for change is on bar 58.
I take it you mean each and every 5 minute bar. I'm not disagreeing with you, but I'd be interested to know what you think the 5 min bars really show.
This is the post which forms the basis for my interpretation of the JW signal for change:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=924
Certainly the most straightforward view is that the lower P and V on the first red bar provide the change signal but I don't know if there is something else prior to that, i.e., the points that Ezzy raised, e.g., pace deceleration and a close of the bar with a higher H and higher L BELOW the H of the prior bar, also may be of consequence.
lj
http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=924
Certainly the most straightforward view is that the lower P and V on the first red bar provide the change signal but I don't know if there is something else prior to that, i.e., the points that Ezzy raised, e.g., pace deceleration and a close of the bar with a higher H and higher L BELOW the H of the prior bar, also may be of consequence.
lj
ES U8 Daily Chart August 13 2008
+P +V is definitely continuation. The bar after the highlighted one is -P -V but moving in a non-dominant direction. JW is applied to the dominant. I'm assuming the 1st highlighted bar is the one we are talking about having JW change.
So if the bar closed within the previous bar, sort of a FBO, does that mean it didn't increase (vs a C>O or C>C[1] measure of increase), therefore the lack of a close above the previous high is read as declining price with regard to the JW?
Check out the link to Spyder's labelling of the TIKI chart of 7-24-08 http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=955 and tell me what you think. I'm gonna eat and then I'll tell you what I think. What I think right now is that nobody (and especially me) on the thread except Spyder et al., know what the JW signal is. If any of you all do, please enlighten. I'm not whinging just making an observation, occasioned by the silence except for Ezzy.
lj