Intraday HGI or what ever is next :)

[slowkey]

Intraday HGI or what ever is next

Well I had to find someway to stay one step ahead of Bob so if he moves to an even greater and more significant indicator than I am covered. So this way I do not become obsolete ...

I wanted a place to casually place some Intraday HGI trades. I consider intraday 60 minutes and down. So I thought I would start this thread. For HGI changes everything and there was really no reason to further continue the thread on Secret Bob. When I see something interesting I like to share it and this gives me a place to do that with out the demands of a specific agenda. So this is just a nice place to put some thoughts on intraday trading with HGI and some observations on how Gann can be helpful. So in that sense this thread will be relative as long as HGI is relative. If a newer super HGI indicator comes along that to will be discussed here. Bobs mind is so creative there probably will be enhancements and further development. Just an observation from someone that has been observing him since the Forex Factory days. Creative minds continue to create. Just sort how it works. They never fully rest in their accomplishments.

This is an open thread for anyone who wants to post intraday HGI charts. I specifically will be posting full spectrum Gann charts with HGI incorporated into the template. HGI does not invalidate Gann and Gann offers a nice explanation of what is occurring with S/R. Adding HGI completes Gann in that we can see wavy line resistance and support. So out in those open areas TMA slope steps in to say "look this is where the road ends for now". Where we do not have wavy lines we can see Support and Resistance along ribbon edges which make nice take profit areas. Gann is best used intraday. Really, you do not need Gann for higher time period trading because it is more based on a daily or weekly trend and CSS serves that very well but intraday it shines. The other thing is that being bottom up in its math it looses some accuracy on the 4 hour charts although it can still give some general guidance.

It usually is an misadventure for me to trade 4 hours and up. The minute I try I get all disoriented and lost. I am just a intraday trader at best. I probably just lack the patience to trade higher time periods and I am to much an action junkie for that.

Even though I will posting Gann charts with HGI feel free to post any charts of your own creation as long as it is using HGI intraday. This is just a nice place for intraday traders to reflect on what they are seeing with HGI. However I will continue to promote Gann as a great way to understand dynamic S/R.

So I will post a template for those who want to explore what I trade but feel free just to post what ever you find useful for intraday trading with HGI.

The new Gann Package look like this

EURUSDM15.png

12/19/2014 HGI Hurst Gann ZF Package

New Package for Gann. This is a total remake of the template to be Zoom friendly and to incorporate Hurst and Bollinger with out being to intrusive. The Shadow Ribbons are turned off for the lower time periods. If you wish you can turn them back on in the visualization setting. I just wanted to make the template very clear to trade HGI but still have BB, Hurst and Gann S/R. If at some time in the future we get Hurst incorporated into HGI I will turn back on the shadow ribbons with that package update. You will need to copy over all the old indicators with all of the indicators in the Package. Some may be the same name but they have been changed to make this template work as it does. The template can be zoomed to any degree and remain clear. There is a lot on this template but remember that each ribbon can be identified easily by hovering your mouse over the ribbon ... Thanks so much to Padnoter for this change early in the development of the indicator. This allows freedom to incorporate changes in the ribbon edge, color and thinness with out the worry that you can not identify the ribbon. The Crimson ribbon remains the slow ribbon edge. The fast edge has been muted and thinned to make the template less intrusive for zooming. See thread posts for more information and thoughts on this setup.

12/19/2014 BB Hurst HGI_v4 Package

Now the BB Hurst HGI_v4 package just has the new indicator incorporated into the template. No other changes were made.

The Manual in the 10.7 thread explains the Gann Ribbons and how to get more bars on your chart. You know R/S on the ribbon edges do not need to much explanation ... Just look.

[slowkey]

Just an illustration of a chart showing how Gann and HGI work well together intraday. This is a one hour EURUSD chart below.

The chart shows five check marks by white angled lines showing resistance or support areas on the Gann ribbon edges. All these areas would have been great places to take a profit. Every candle is 1 hour so you can see how long it takes to penetrate these resistance and support zones. As you can see HGI is perfect in its direction but there is significant S/R to overcome. Take the profits and move on to the next chart. Why waste time tied up in resistance or support zones or take profits and setup pending trades to reenter the trend once these zones are cleared. However it is clear that the Gann Ribbons and HGI play well together.

EURUSDH1_gann.png

[slowkey]

Can you trade HGI on the five minutes.

Sure looks like it ... I got in on this trade late at the check mark but still got 18 pips out of it at the other check mark. This is GBPCHF on the five minute chart. I exited at the level of the previous high marked by the wavy lines. There is a concept call horizontal resistance. I have an indicator that I use to draw horizontal lines from a previous highs or lows. Don't use it any more with Gann but the idea is that there is a resistance at that level of the most recent high that needs to be broken. So I took the 18 pips and ran.

GBPCHFM5.png

[nanningbob]

Cool I love those ribbons

[slowkey]

Cool I love those ribbons

You will love this to Bob. Look at the same trade area on the 15 minute GBPCHF comparing it to the previous post.
Trade stops dead on the Daily Ribbon.

GBPCHFM5.png

Now the 15 minute...

GBPCHFM15.png

Cheers,
Doug

[slowkey]

Just a thought about the angst some are feeling trying to trade intraday on the smaller time periods with the indicator.

I have had some fun looking at a few nice trades on the 5 minutes and 15 minutes.

However, I do not feel comfortable with the lower time period yet because this is a very complex indicator when used intraday. What I mean by that is that there are a lot of signals.

There are a lot of signals and at the end of the other SB thread I stated I would go up to the four hour until I felt comfortable with the signals. Well I decided on the 60 minute which does seem a nice compromise. I am trading the 60 minutes until I get familiar with the indicator.

The indicator does seem to adjust to the lower time periods as far as the wavy lines etc. but I think that in final analysis we may find that it will require a lot of experience to trade intraday with the indicator. I am focusing on trading the indicator on the 60 minutes. I also am using the 2:1 stochastic indicators set to 240 and 1440 on the 60 minute as you can see on the template I put in post one. I have a comfort zone with the 2:1 stochastic giving a solid trend and counter trend signal. One thing I am concerned about intraday is that the angle arrows seem to be quite frequent and usually when you see one you will have a retrace quite often. However until I have more experience trading the indicator on the 60 I really do not want try to interpret to specifically what I am seeing on the smaller time periods. It is a little unfair to trade the hardest time periods with a system I am not totally experience with using and I feel that it does take a little time to make the good reads because on the lower time periods there are a lot of signals.

I am not a four hour trader I just get lost up there. 60 minutes seems to be a nice compromise. I love TMA slope. I love that the indicator can give us these reads. I think that is just terrific. It looks very good. Bob trades the four hour and no doubt he refined the idea of the indicator around his 4 hour approach to trading systems. I try to adapt them intraday. I end up making some adjustments sometimes. I have no idea what that may be until I have more experience trading it.

I will take a little while to sort it all out. My initial enthusiasm was heart felt. I think this is the start of something real special. I am going to take my time to explore it. However I just wanted to make it clear that I am personally not comfortable enough with using it intraday to venture lower than the 60 minute for now. I have taken a few trades on the 5 minutes and 15 minutes but I have been tempered by some failed trades also. I think I can master it on the 60 minutes than I will proceed to looking at the lower time periods.

Cheers,
Doug

[slowkey]

Screen door template added so that the arrows would not become blocked by the ribbons. Old template is still in bundle. You will need to add the indicators in the package to the data folder in Empty4. Just copy over top the old ones. Easier that way.

First a naked view of the HGI and than the new template added.

GBPNZDH4.png

Now look with the screen door effect ribbons.

GBPNZDH4clear.png

If you hover your mouse over the ribbon it will tell you which ribbon you are looking at. Also I illustrated a few fundamental ribbon laws.

As ribbons get wider they become less resistant. Narrow usually means more resistance. At the point where the two edges cross over or the x cross price can easily pass through a ribbon. The shadow ribbon here is the 1 hour which is quite a lot of resistance or support to pass through. Smaller time periods ribbons follow the same rules but are weaker support and resistance so they can be passed through more easily by price. When you see price obeying the ribbon laws than a bell goes off and your realize you can trade using these principals.

Cheers,
Doug

[fire580]

Thanks slowkey

[slowkey]

Forgot to put the new indicator HGI_Dark.V.14.05 onto the new template in the new package. See first post. This uses the screen door effect so the arrows can be seen better.

Cheers,
Doug

[slowkey]

I took a few trades on the 15 minute this AM ... I do not have a lot of hands on time to trade this week. So I set up a couple of trades on the 4 hour. I like HGI intraday. You need to realize that when the RAD arrows occur you may see a retrace. So enter on the retrace or set up a pending on the break out from the rad arrow. Keep an eye on a lower time period CSS like the 30M when your trading the intraday 15M time period and you will see where the intraday strength lay. Today the JPY was strong intraday. However I have set up some trades on the 4 hour that are based on overall JPY weakness. So intraday and Daily trends can be quite different. However HGI adapts well to what ever time period you are trading.

Yea I know I am not really a 4 hour trader but I really need to just walk away from the charts and let it do its own thing. That is what I plan to do this week. Setup trades and let them run checking them every few hours.

Cheers,
Doug