It includes two - 60 Secret Bob templates one with CSS and one without CSS. The same applies to the two - 240 Secret Bob templates. There is also an analysis template with all the ribbons. If you do not have enough bars the indicator will not try to load that time period. You will see a message in the left hand corner stating to look under experts to see which ribbon is not loaded. On the lower time periods this will tend to be the weekly ribbon mostly if you have at least a moderate amount of bars. You can see the Gann 10.7 manual to learn how to fix this in my other thread. Higher time period Ribbons are best evaluated on Higher time periods anyway. So if you move up to the 4 hour for instance you will see clearly how they relate to price.
Ok ... so after spending a lot of time in the Fxblue trading simulator looking at the Secret Bob indicator I realized that just like the 10.7 system on the 15 minute we need an intraday trend.
What I mean by this is that we will use the 240 time period to give us a trend to take both counter trend and trend signals in agreement with its 240 trend signal. The 240 trend is not the same as the daily and I suspect the Secret Bob signal is based on a higher trend like the daily. When you get down as low as the 15 minute you have what I like to call intraday trends. I think that the 240_2:1 stochastic does a nice job of pointing these out. The daily trend is 96 times bigger than the 15 minute time period. The 240 is only 16 times bigger. So the 240 picks up on these intraday moves better. If the signal is on the top of the Stoch box it is a bullish signal and if on the bottom of the Stoch box it is a bearish signal for those who are unfamiliar with 10.7.
So going through looking at the signals I found that when you follow the 2:1 stochastic direction you can have more confidence that the trade will succeed. You can also live longer with a trade if the 240_2:1 stochastic remains in the direction of the trade. If you take a trade in the middle of a consolidation it will be less likely to work out. By definition you want to trade toward the center of a consolidation. So out some from the ribbons are good locations trading down or up into a consolidation. In a trend regular trend signals will occur nicely in agreement with the 2:1 stochastic indicator.
We will miss a few good signals and that is where your judgement comes into play. You will see one of those misses on the chart below.
You can see how the yellow checks would work nicely with the signals in agreement with the 240_2:1 Stoch. Whether they are counter trend or trend. We take what the indicator gives us in the direction of the 240_2:1 stochastic.
If Bob at some time releases the code we may find we can adjust the Secret Bob signal better for the 15 minute time period but for now your best trades will be in the direction of the 240_2:1 Stoch.
You can see near the beginning of the chart a nice counter trend signal that would be missed. However there are many more that just would not work at all if against the direction of the 240_2:1 Stoch. Now I do not have an active feed being Sunday early afternoon outside of trading hours. So maybe the signals would not have been missed with an active feed. This is a static chart.
The CSS is there to look at if you want. I will try to incorporate it into the discussion later if we get a strong feel for the basics of trading this on the 15 minute. I did give one example and it might work nice to point out exceptions to the 2:1 signal. However for now I think this will be enough.
So lets talk about counter trend and trend. On a 15 minute chart that takes on a different meaning as you can see by the use of the stochastic. The indicator gives trend and counter trend signals. Using the 240_2:1 for our trend does not change what those signals are called.
This is the exact same thing we did with Gann 10.7 on these very small time periods. We used an intraday trend.
I do not know the coding of this indicator but I am starting to have some ideas. My secret.
I am using just a simple MTF stochastic to do the 2:1 signal. Very CPU efficient I think. I made a change in the code to get it to work with the current version of Empty4 so if any coders out there want to take a good look at the indicator for me I would be delighted. I basically just commented out the problem line. It does seem to work now.
Cheers,
Doug
