The basis of what I will give the trader is a foundation from which to trade different styles of trading with in a proven structure. Whatever indi's, EAs, etc. a trader wishes to add will be up to them. The difference between the 30M and 1H charts is trader's choice not a recommendation by me. I basically have never used Fibs in trading but there are many who like them so they can use it if they wish. The fundamental idea behind the whole series will be traders will be able to choose a style that best fits them. I will just give the basic outline but each trader will have to choose which style fits them best.atharmian wrote:Bob,
Truly a great summary of what we have been struggling to identify as the overall rules for various market conditions.
Looking forward to your New Year's Gift, and wishing it comes before the Chinese New Year !
My wish list:
1. Don't know what might the difference be between Fib M30 and Pivots H1. Could the coders provide both Fibs and Pivots?
2. Similarly for the trend indicator, TMA Slope. Would it be possible to substitute other trend indys, e.g., the traditional RSI, Bollinger Bands or perhaps TrendMagic from FF's good ol' days (based on CCI)?
From my non-coder POV, all a coder need do is provide menu choices to the trader with the parameter range being read off by the EA/Indy (e.g. -.4/.4 for TMA Slope.)
What I personally find is that the TMA is lagging quite a bit- not great for trend continuations, and so-so for reversals. Of course your own method doesn't depend upon a specific trend indy.
3. CT trading with that hedging is great stuff and I wish Phil had stuck around, but could the CT be applied to more than one TF here? That is, this CT strategy being used in its own right, as opposed to 'merely' a hedge?
4. I am hoping that Don and Paul would be producing what you mentioned. Should we also be expecting an EA by someone in addition to Don's Indy?
It is probable that the flexibility I ask for doesn't get too difficult to code, or confusing. Ultimately, what we want is to gauge a trend or reversal, and also look at the pivot alignment (maybe even a dynamic fib alignment in the future), just like all trading based on trending or breakouts. Then apply smart techniques like CT hedging, and have some inkling of volatility conditions for various pairs traded to judge their respective likelihoods of S/R or reversals.
The remaining is luck, aka, statistics (as in lies, damn lies, and statistics !)
Regards,
Athar.
Just to let you know I probably will be adding the TMA slope indi back in on the 4H and/or Daily chart. However, I will be going back to the original slope that everyone hates and repaints but I still consider it the best indicator for strength of move. The non repainting one does not give me strength of move until it is too late. The repaint or readjusting the bars shows how the move has really been running in the past. It gives me its overall strength and move for me to judge by. The True TMA slope is just another MACD or Histogram Oscillator. I dont find it as useful or as helpful. So that will cause a stir I am sure. Anyway, anxious to try out Don's updates.