Woodies CCI
- Thread starter osho67
- Start date
That's the beauty of the CCI --don't even need candlsticks etc. In fact if any of you are familiar with Woodie's people you know none of them even use candlsticks.
As for the time frame--I use Range Bars with a setting of 2 for the ER and ZG and a setting of 4 for the ES and NQ.
I've already shown you how and what to look for. Study the charts yourselves for awhile and do your own analysis and watch.
As for the neural networks and signals I use for visual and auto-trading--not gonna happen.
Woodies system explained and presented by Howard at Ensign.
http://www.ensignsoftware.com/help/woodies.htm
$38 a month seems fair to me.
http://www.ensignsoftware.com/help/woodies.htm
$38 a month seems fair to me.
I 2nd nkhoi's comments...
IMHO, some of the problems with woodies CCI:
1) It is relatively late at showing a trend change as compared to watching price move around something like a T-3 adaptive moving average.
2) I find it too distracting to try to watch price and any woodies CCI cue changes. It seems easier to simply watch price move respect to any trend lines.
3) Woodies will change colors as the price continues to move relative to the chart bar, so you can not be sure of the indicator color until it actually moves onto the next bar indicator.
I think we would all agree we make our best guess at a trend change. You could set up (2) woodies indicators at slightly different ranges, and trade when they agree. However, you could also set up multiple trend lines and trade when the price crosses (2) or more.
Looking at a historical chart with Woodies is one thing,. Watching it real time has been more difficult to use than watching trending indicators and the candle sticks building.
I will admit, giving Woodies more screen time might help me identify trends better. However, I just feel the same investment of screen time watching price around various trend indicators is a better path for me.
One last point... I also feel I can more quickly pull the plug on a bad trade when watching price against trend lines.
However, what ever floats your boat.
If Woodies CCI is working, keep taking the $$$ to the bank.RJ
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Quote from Bytehoven:
I 2nd nkhoi's comments...
IMHO, some of the problems with woodies CCI:
1) It is relatively late at showing a trend change as compared to watching price move around something like a T-3 adaptive moving average.
2) I find it too distracting to try to watch price and any woodies CCI cue changes. It seems easier to simply watch price move respect to any trend lines.
3) Woodies will change colors as the price continues to move relative to the chart bar, so you can not be sure of the indicator color until it actually moves onto the next bar indicator.
I think we would all agree we make our best guess at a trend change. You could set up (2) woodies indicators at slightly different ranges, and trade when they agree. However, you could also set up multiple trend lines and trade when the price crosses (2) or more.
Looking at a historical chart with Woodies is one thing,. Watching it real time has been more difficult to use than watching trending indicators and the candle sticks building.
I will admit, giving Woodies more screen time might help me identify trends better. However, I just feel the same investment of screen time watching price around various trend indicators is a better path for me.
One last point... I also feel I can more quickly pull the plug on a bad trade when watching price against trend lines.
However, what ever floats your boat.
RJ
...
Fair enough and I agree with you in that everytrader has ahis/her own style. But if you go back to page 40 and look at the gray chart you will see that the trend line from the day before is already telling you a day in advance what's going to happend the next day and if you do your trig right you can almost pinpoint the exact time, but I'll let you figure that out on your own and if you use a program called MatLab it'll pretty much give you the exact time +/- 1 minute and the strenght of the move.
Good luck to all of you guys trading.
I found the chart very interesting.
I might add, a similar extended trend line can exist on the price chart, allowing you to see where the price is moving in reference to a multiple day average.
One thing I am noticing about trying to judge moving averages over multiple days...
... at the beginning and end of the day, the large spikes in price can vastly alter an extended time frame trend indicator. I am wondering if some of these spikes are not designed to "fool" the TA of swing traders into drawing the wrong conclusions.
I might add, a similar extended trend line can exist on the price chart, allowing you to see where the price is moving in reference to a multiple day average.
One thing I am noticing about trying to judge moving averages over multiple days...
... at the beginning and end of the day, the large spikes in price can vastly alter an extended time frame trend indicator. I am wondering if some of these spikes are not designed to "fool" the TA of swing traders into drawing the wrong conclusions.
