Tiddly's winks
- Thread starter tiddlywinks
- Start date
Many here know I am Jack Hershey practitioner with my trading.
One particular Hershey concept is known as IBGS, or Inter-bar Gaussian Shift.
When isolated in practice, IBGS is merely a simple type of PRICE ACTION.
This chart is todays RTH 3 minute (my primary timeframe) of YM, which is the instrument I traded today. I have isolated only the IBGS short and long alerts. Besides volume, all other chart stuff is removed.
Using only these simple IBGS alerts you can see the value. And it is not a fluke.
Real quick... dark blue bars are IBGS short alerts, yellow bars are IBGS long alerts.
Stops can be placed 1 tick above the alert high for short, or 1 tick below the alert low for long.
However, IBGS IS NOT AN EXIT/REVERSAL signal... IBGS occurs when it occurs...
IBGS is NOT a system!! It is one particular type of price action.
Best results are achieved when used with 10-case and volume analysis...
LAT and CCC formations are not preferable.
My platform is SierraChart. Happy to discuss.
Good trading to all.
One particular Hershey concept is known as IBGS, or Inter-bar Gaussian Shift.
When isolated in practice, IBGS is merely a simple type of PRICE ACTION.
This chart is todays RTH 3 minute (my primary timeframe) of YM, which is the instrument I traded today. I have isolated only the IBGS short and long alerts. Besides volume, all other chart stuff is removed.
Using only these simple IBGS alerts you can see the value. And it is not a fluke.
Real quick... dark blue bars are IBGS short alerts, yellow bars are IBGS long alerts.
Stops can be placed 1 tick above the alert high for short, or 1 tick below the alert low for long.
However, IBGS IS NOT AN EXIT/REVERSAL signal... IBGS occurs when it occurs...
IBGS is NOT a system!! It is one particular type of price action.
Best results are achieved when used with 10-case and volume analysis...
LAT and CCC formations are not preferable.
My platform is SierraChart. Happy to discuss.
Good trading to all.
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Great post tiddlywinks! I had never considered highlighting IBGS bars even though I know, as their name implies, these are areas where sentiment has shifted ("change" in JHM nomenclature) and often form channel "points" (1-2-3-FTT in JHM). Color coding IBGS bars will be helpful when reviewing past static charts as well as helping that proverbial fifth grader to see the sentiment shift intra-bar.
Do you use these coded bars, as they develop in realtime, for execution decisions (e.g. using the coded IBGS bar as it changes color as your indication that "change" has arrived)?
Do you code outside bars, which to me are special cases of IBGS bars, as well?
Thanks again for the thought provoking post.
-river
Hi River. Thanks for the questions! Hope you are doing well..
I do use the IBGS bars. But the isolated that I'm showing are merely the very simple price action calculations created as a ColorBar Alert. I have an ACSIL coded version with more complexities, such as relationship to total range of the bar and a volume check. Bar closing is the timing I use. One caution about using IBGS... You really need to know what is dominant, black or red volume, and IBGS are associated with "tapes" a majority of the time. Just saying. I like IBGS for what I consider scalping... and the bigger picture eventually, always unfolds!
As for OB's, yes, they are special cases. In JH version 2, OB's get 2 pieces of volume sequence, with certain exceptions of course. It's JH... gotta have exceptions!! Even without IBGS, OB's as standalone things, are areas of interest at the very least.
I stopped trading around 11:45am pst today. Here's my YM chart, a bit more messy, but still cleaner than normal.
OB's highlighted purple.
Note how the fresh lows on the right are just ticks with less than impressive volume? My gaussians are wrong! Therefore my bigger channel is wrong too!
I do use the IBGS bars. But the isolated that I'm showing are merely the very simple price action calculations created as a ColorBar Alert. I have an ACSIL coded version with more complexities, such as relationship to total range of the bar and a volume check. Bar closing is the timing I use. One caution about using IBGS... You really need to know what is dominant, black or red volume, and IBGS are associated with "tapes" a majority of the time. Just saying. I like IBGS for what I consider scalping... and the bigger picture eventually, always unfolds!
As for OB's, yes, they are special cases. In JH version 2, OB's get 2 pieces of volume sequence, with certain exceptions of course. It's JH... gotta have exceptions!! Even without IBGS, OB's as standalone things, are areas of interest at the very least.
I stopped trading around 11:45am pst today. Here's my YM chart, a bit more messy, but still cleaner than normal.
OB's highlighted purple.Note how the fresh lows on the right are just ticks with less than impressive volume? My gaussians are wrong! Therefore my bigger channel is wrong too!
YM, 3 minute. Since 11:00am pst.
I put on the built-in jig-jag study to display the number of points (same as ticks for YM) per segment! fwiw, the RTH linear high-low points is (only) 600+ today.
Note the OB's and IBGS-Long alerts.
Is it possible to catch 25% of the runs? 50%? 80%? 10%?
Good trading to all!
I put on the built-in jig-jag study to display the number of points (same as ticks for YM) per segment! fwiw, the RTH linear high-low points is (only) 600+ today.
Note the OB's and IBGS-Long alerts.
Is it possible to catch 25% of the runs? 50%? 80%? 10%?
Good trading to all!
I don't need to state the obvious regarding the US indexes.
The daily ranges on YM have been amazing. This is why traders who can trade, trade!!
Once you learn the personality of an instrument and how it affects your signals and order methodology, well... trade on!!
The most interesting thing I did this week was put on a 6C short for a swing... entered on Wednesday and exited today for profit. I think Trudeau is destroying the trustworthiness of Canada. I expect to put on a fresh 6C short for swing by Tuesday. Monday is a holiday in the USA... the Canada situation is fluid, but for now, Trudeau continues moving towards complete Marxism for the country and it's unlucky citizens.
The reason why 6C rather than M6C is Volume... M6C has next to nothing.
Go Truckers!!
The daily ranges on YM have been amazing. This is why traders who can trade, trade!!
Once you learn the personality of an instrument and how it affects your signals and order methodology, well... trade on!!
The most interesting thing I did this week was put on a 6C short for a swing... entered on Wednesday and exited today for profit. I think Trudeau is destroying the trustworthiness of Canada. I expect to put on a fresh 6C short for swing by Tuesday. Monday is a holiday in the USA... the Canada situation is fluid, but for now, Trudeau continues moving towards complete Marxism for the country and it's unlucky citizens.
The reason why 6C rather than M6C is Volume... M6C has next to nothing.
Go Truckers!!
Exited 6C for profit today. Trudeau reversed Emergency Act yesterday. It seems no one care/s/ed as the action in (most) currencies was (and has been for some time) more like a lemming trade.
Anyway, my 6C thesis remains. More trading and attempts for longer than overnight (lol) 6C shorts will continue. As a side bar... anyone that thinks the worse is behind is just a fool. US indices too!!
BTW... LIMIT UP ZW (wheat) today! No, I did not participate there.
FJB
ZW 5 minute...
ZW Daily...
Anyway, my 6C thesis remains. More trading and attempts for longer than overnight (lol) 6C shorts will continue. As a side bar... anyone that thinks the worse is behind is just a fool. US indices too!!
BTW... LIMIT UP ZW (wheat) today! No, I did not participate there.
FJB
ZW 5 minute...
ZW Daily...
In a different thread, there was a brief discussion about temporary day-trading margin increases. This morning AMP restored previous day-trading margins on indexes.
Just in time, because the CME boosted their exchange minimums by 5%. Oy!
I haven't looked at a CME Performance Bond Bulletin in some time.
Here's the one which became effective today.
https://www.cmegroup.com/content/dam/cmegroup/notices/clearing/2022/03/Chadv22-070.pdf
I don't recall what "HRP" and "Non-HRP" stands for/means. I'm not even sure if this new nomenclature or not! LOL
Does anyone know what "HRP" and "Non-HRP" means or stands for in context of performance bonds??
Thanks