Slowkey,slowkey wrote:Greetings Traders
I encourage a New trader to learn and master NB 10.2 first before looking to strike out on there own with the analysis this setup is designed for. Some success in trading is a prerequisite for this setup. I just think that Bob's KISS approach is the best way to learn for a new trader.
[[I am starting this thread to share the setup I have been using to trade analyse price intraday. It is also to investigate NeoTraders "NT TMA-CSS-SP" indicator and how best it can be used for entries and exits with confirmation from MACD. The latest version can be found in NeoTraders NB Lab Indicator Thread in the 10.2 section. Initially we have Baluda's great contribution to thank for the origin of this indicator and than Neo's adaptions he made for his own trading. I am very grateful that Baluda and Neo have shared their indicators with the community. If you want to understand slope read Bobs NB 10.2 explanation of it in his booklets. If you want a description of Baluda's and Neo's indicators please read their threads. I was using the setup I will share here as part of a top down approach to trading Bobs system on the intra-day charts. Now with NeoTraders indicator I have found what I need to trade intra-day without the top down approach.]]
Edit 7/11/2012
So the above seems now ancient history in light of the new indicator Neotrader has created. The new indicator is the NT TMATrue SlopeHisto MTF. It will be along with the SDC channel and the Blau SMI the heart of the setup. The setup will over time become a combined setup with the Four Hour and Daily position setup in my other thread but this will be just the integration of the intraday setup into a larger strategy to trade all time periods. The intraday setup will be much the same except for the adoption of the Blau SMI and the New NT indicator.
This is a setup for analysis of intraday daily range and how the setup might be used to develop trades from the analysis.
In this setup I use a Standard Deviation Channel tool that is free from Compassfx. This is not an endorsement of them. I am using THV daily pivots only and you will need to set them to your Crims server time. Local time I have set as the NY close. I am using a Demark trend trader tool. Tom Demark devised a way of drawing trend lines from right to left using just two point. There is only one way to draw them and this indicator does that and gives you a projection. I also threw in a nice little indicator that displays price, spread, and Daily Range. It goes on all my charts. The Demark lines are nice and so are the projections.
The heart of this setup is Neo's indicator, Blau SMI indicator and the Standard Deviation Channel. The channel has a 5 day look back so you do not have to look at the four hour or daily for trend. It is just visible in the channel. You do need to look at the daily for analysis of the overall price movement related to potential price bottoms, tops and pull backs. The channel use Fibonacci for its deviation. What you will see with the Channel is that price will move within it in characteristic ways. So it gives you nice background to understand price at the moment.
(There are four templates adjusted to volatility of Min, Max, Std and All. Once you see them you will understand. Place the max template on GBPNZD for instance and you will get the insight.)
I will be moving to a combined All template. I will have two packages. One for those who are still comfortable with the original setup with the MACD and the Old indicator. But my development of the setup will now be based around the combined Template.
---------------- This section will be revised extensively from time to time 6/29/2012 .
For now read the thread and the PDF. A copy of what was here is in the thread so you will be able to view it historically. I will be revising the PDF but it still is a good summation of the setup.
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One thing I have learned about trading is this. Always Respect Price. There is no indicator or system that has anything on price. The market does not care about you and when price is going against you .... You are just wrong. Sit on your hands until you are WILLING to do the right thing. Learning this little lesson has done more for my trading than any system or indicator.
I will attach a little package with my indicators and templates. My templates are dark because I need contrast to see. Feel free to beautify. I will try to participate as much as possible here but I have a laundry list of things health wise going on with me and from time to time I need my rest. I will share some charts in the following post.
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BELOW IS Old History .... Edit 7/11/2012
Left here just so you will understand why an indicator needs to be non-repainting for analysis. I knew this but just did not know about the setting being there. [[...............................................]]
[[When I posted the initial charts I was unaware of the the True TMA switch. This was a mistake on my part that I did not realize that there was such switch on NeoTraders inidicator. That being said you may find some value in the posted charts regarding the setup. However any conclusions I drew from the NT indicator on the initial charts are suspect. By leaving the charts there I think you can get an idea later on how the setup is evolving.
Any future charts posted will clearly show the indicator in TRUE TMA mode. So take with a rather big grain of salt what I thought was happening with the indicator in these first few charts I posted. This is not to devalue the indicator or the FINE work NeoTrader did in making the indicator. Having initial success with the indicator was real and even when it is not in true tma mode the indicator is "accurate" at the hard right edge of the chart. So the signals I was trading were good signals but in that mode the visual look back is not accurate to what I was trading at the hard right edge of the chart and it should not be used for the development or illustration of strategy. Needless to say I was rather startled to realize I had done this at the time. NeoTraders and others comments have righted the boat and as I write this it is a new day and I like this setup.]]
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I took some things from every book I have ever read or system I have ever studied. There is no holy grail but there is a way to think about the market that works. If you take nothing from this thread but a way to think about the market in a satisfying systematic way than this thread has served its purpose. The time I spend here is as much for my own self as you. I am always learning and reviewing, trading is a satisfying experience. I know I will eventually reach my financial goals if my health allows for that but being a cancer survivor I have learned that what I am doing at the present moment is where life really has authenticity and the satisfaction of knowing I am doing it well. So in that sense I hope to rewrite how I trade this setup as I experience new insights.
6/29/2012
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I hope that this setup will evolve into a systematic way of thinking about trading. That through a simple setup a trader will find the satisfying experience of being there own analyst. An experience that is about enjoying the process as much as the reward of trading. The setup is all about complimentary tools that have all the necessary rigor to make some simple predictions about where the market is headed and what might be the best entry and exits for the day.
7/11/2012
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7/17/2012
Below you will find the old package which I will leave here for those who would like to use it and also the Combined Package that I will be using in both threads. The combined package is setup on the Four Hour with Baluda's TMASlopeMTF so we can look at NB 10.2 style slope on the higher time period of Four hours for swing trading. The Intraday has the NT TMATrue SlopeHisto MTF indicator by Neotradier. Both indicators are very nice. The PDF still is very much the way I trade. I think it translates well enough to the new package for now but I will be updating it in the near future.
7/19/2012
Version 4 of the Combined Template. Huge improvement to the Four Hour SDC and the Daily SDC. Now you will find trading off of those two time periods very much like trading the hourly. I realized that the SDC deviation channel were really not calibrated to the time period. I shortened them up to an 140 period look back on the Daily and a 28 day look back on the Four Hour. The difference is remarkable and now the time periods of 1 hour, four hour and Daily are in sync. It will be a lot easier to trade each time period and compare them. Very beneficial to swing trading and position trading. I thank Zah1231 for getting me thinking about the deviation channel look back and his input in the thread.
my friend I have been Wondering where you were all this time, so this is where the Action is ! hmmm this should be interesting, I'll have a go at this System and see what it throws up.
Happy Trading.
xrismak.
