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Has anyone tried eminiacademy.com?

  #18 (permalink)

Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
trendisyourfriend's Avatar
Posts: 3,866 since Oct 2009
Thanks: 3,457 given, 4,917 received

Fat Tails View Post
There is no need to stay with the NEXGEN concept, as it can be modified or further improved.

That's the programmer in you that speaks like that. I know as when i was younger and a programmer i could not resist and i wanted to re-invent the wheel every time i had to edit someone else script.

Fat Tails View Post
(1) I do not think that you need 2 sets of trigger lines, I do not use them.

That must be a good reason! ;-)

More seriously, i have tried many times to add or remove some elements but i always revert to the core indicators. There is a good reason why i use two sets of trigger lines: i have learned to interpret price action with these two sets.

Here is an example that occured a few minutes ago on the ES:

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There is no magic but simple common sense.

Fat Tails View Post
(2) My fibonacci indicator does not produce the same lines as NEXGENs indicator, but different confluence zones. The logic could be similar, but I have no idea about the exact settings of NEXGEN's indicators.

That is one reason why i throwed these Fib lines to the toilet. Since no two traders can't agree on which pivot to look at in order to calculate the next level where price is likely to stall or revert then my common sense told me: why bother about such a fuzzy concept. Work with what is real and can be measured. That's why i now use Market Profile. There is no second guessing with this tool. The Value Area is not predicted but is a developping area where the main actors play. You can extrapolate all other key levels from this developping zone as the session progress.

Fat Tails View Post
(3) You can try a different oscillator or settings to replace MACDBBLines. A combination of CCIs would also work.

I don't think so. MACD operates on standard values that are used by many traders. Apart from a moving average i think the MACD is the most used indicator in town. To me, it makes sense to use the same pair of binoculars used by my peers. With the MACD you can detect support/resistance without prediction. The likelyhood of a break or a bounce off of a key level. If you need to exit ot keep your position opened etc. This simple tool is so versatile that i can't see what other indicator can replace it.

Fat Tails View Post
(4) You should try to find the optimum settings for the Keltner Channel. These depends on timeframe and instrument.

I do not believe in optimisation as price will do whatever it wants no matter your settings. What you need to do instead is to find where price might cheat and trick the indicator, ie, where price is more likely to give you two conflicting possibilities under the standard settings. At these sweet spots where one trader would win and the other would lose using the same indicators.

Here is one example i took in my library of tricky possibilities:
This is a case where my bias had changed to the upside when the large trigger was broken and even the midband but look at the strength of the small trigger lines and the position of the MACD. Everything was screaming: a zero rejection line is more likely.
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Fat Tails View Post
(5) There are also other indicators that indicate support and resistance that could be used: pivots and current day volume weighted average.

Yes, you are right. I already use these levels:

1) Yest. close, high/Low
2) yest. value area
3) Floor pivots
4) some extention from the value area

That's it.

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