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Multicharts, Setup, Toby Crabel


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Multicharts, Setup, Toby Crabel

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  #1 (permalink)
 Locust 
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Has anybody seen setups according to Toby Crabel for Multicharts or wants to join creating some of them?

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 Fat Tails 
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Locust View Post
Has anybody seen setups according to Toby Crabel for Multicharts or wants to join creating some of them?

What setups are you looking for exactly?

Toby Crabel has used statistical analysis for determining the breakout points. How do you want to intergrate this? The values of Toby Crable are obsolete and cannot be used today.

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 Locust 
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Fat Tails View Post
What setups are you looking for exactly?

Toby Crabel has used statistical analysis for determining the breakout points. How do you want to intergrate this? The values of Toby Crable are obsolete and cannot be used today.

According to his book, he had specific bar patterns.
If I recollect right. D1, D2 etc..... which are fairly straight forward.

A few of them still work.
With others, he just gave an idea what to look out for.

I looking to create a test framework for this kind of pattern, not just to duplicate his patterns but to find new ones.

Locust

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 Fat Tails 
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Locust View Post
According to his book, he had specific bar patterns.
If I recollect right. D1, D2 etc..... which are fairly straight forward.

A few of them still work.
With others, he just gave an idea what to look out for.

I looking to create a test framework for this kind of pattern, not just to duplicate his patterns but to find new ones.

Locust


Makes sense. Using NinjaTrader and currently evaluating MultiCharts, might purchase once they come up with a DOM and chart trader.

(1) I have an indicator that plots NR7 and IR4 bars.
(2) I have also worked on indicators to replicate the ACD pattern of Mark Fisher. This also needs statistical analysis, if you want to apply it.
(3) Have coded an indicator that plots opening ranges and pivot ranges.

Will have a look at Toby's book again. Also refresh my knowledge of Mark Fisher's book.

https://www.mbfcc.com/logicaltrader.html

I am also interested in porting the indicators above to MulitCharts.

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 Snoop 
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Interested as well, though I'm not up to speed on EL. Not enough hours in the day it seems.

I still use crabel's basics everyday. Mypivots compiles crabel price patterns across a number of instruments.
eg. E-mini S&P500 December 2010

Still very effective on alerting when pressure has been built and trend days are highly probable.

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 Fat Tails 
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Locust View Post
Has anybody seen setups according to Toby Crabel for Multicharts or wants to join creating some of them?


Have you already started to code some of the setups? Do you want to apply them on daily bars or intraday?

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  #8 (permalink)
 Snoop 
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This seems as good a place to post this:

On the topic of Crabel - CL was NR7 today and I believe yesterday as well. Today's reaction was quite typical.

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 Fat Tails 
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Snoop View Post
This seems as good a place to post this:

On the topic of Crabel - CL was NR7 today and I believe yesterday as well. Today's reaction was quite typical.

Narrow range days for CL in 2010 taken from my chart:

Tuesday, September 28
Monday, September 27
Monday, September 13
Thursday, August 26
Thursday, August 5
Friday, July 23
Friday, July 9
Thursday, July 8
Thursday, June 24
Tuesday, June 22
Thursday, June 17,
Tuesday, June 8
Monday, May 24
Wednesday, May 19
Monday, May3
Friday, April 30
Tuesday, April 6
Tuesday, March 30
Thursday, March 11
Thursday, March 4
Monday, February 22
Wednesday, Feburary 17
Monday, January 25
Thursday, January 14

Makes 6 Mondays, 5 Tuesdays, 2 Wednesdays, 8 Thursdays and 3 Fridays.

This is not astonishing. Wednesday is the news day, so this raises expectations and volatility. Friday has a higher volatility in general for many markets. Mondays are often dull days. Tuesday and Thursday are the days before and after the oil report day. We have an interesting pattern here, which, if confirmed by narrow range bars, can certainly be exploited.

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 Locust 
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Fat Tails View Post
Have you already started to code some of the setups? Do you want to apply them on daily bars or intraday?

I thought to start eod, just as a filter.
Yes I did the Nrīs already, will post on the weekend, when multicharts is not actively trading.

I am still thinking though of taking his patterns to a next level, by trying to find more setups based on his approach.

Locust

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 Fat Tails 
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Locust View Post
I thought to start eod, just as a filter.
Yes I did the Nrīs already, will post on the weekend, when multicharts is not actively trading.

I am still thinking though of taking his patterns to a next level, by trying to find more setups based on his approach.

Locust

Actually what I want to do is to categorize the days to understand what type of price action might evolve. For me this could be a two.step process

First step: Use daily data only

This already allows to look at various price patterns

- pivots, pivot ranges
- rolling pivots, balance point
- narrow range, inside and outside bars
- closes above or below the midline
- closes in the upper or lower x %
- dojis: |close -open| < 10% of range
- overlap of daily bars
- hooks

Second step: Add intraday information, which is availbale

- european session high and low
- globex high and low
- RTH open and opening gap
- opening range

This should allow to identify some patterns which are statistically relevant and which - if confirmed by price action - can be exploited.

And it would be a nice way to better prepare the trading session. I still sometimes just hunt signals without really knowing what I am doing.

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 Snoop 
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Fat Tails,
Not sure what you mean by "This is not astonishing."

The number of instances of NR7 and on what day they take place is not really relevant (at least to me) - it's the price move that follows these days that is of significance. You mention news as the cause if i understand you - yet there were only 5 NR7 Tuesdays in your sample, out of a possible 36 (4 days per month x 9 months).

Your numbers confirm my back of the napkin analysis that there are approx two NR7 readings a month. What I do know from experience is that there is a 2-3% price move (even greater if you measure from low to high) in the day or two following these readings (guesstimate is 3 out of 4 times). NR4 readings have similar effect but with less predictability. I haven't run the hard numbers because my moto these days is "hand grenade close".
But I know it works for me from my P/L.

NR7 is just an alert to me and ultimately the success comes from the execution of the trade.



Fat Tails View Post
Narrow range days for CL in 2010 taken from my chart:

This is not astonishing. Wednesday is the news day, so this raises expectations and volatility. Friday has a higher volatility in general for many markets. Mondays are often dull days. Tuesday and Thursday are the days before and after the oil report day. We have an interesting pattern here, which, if confirmed by narrow range bars, can certainly be exploited.


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 Fat Tails 
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Snoop View Post
Fat Tails,
Not sure what you mean by "This is not astonishing."

The number of instances of NR7 and on what day they take place is not really relevant (at least to me) - it's the price move that follows these days that is of significance. You mention news as the cause if i understand you - yet there were only 5 NR7 Tuesdays in your sample, out of a possible 36 (4 days per month x 9 months).

Oil reports are on Wednesdays. So it is not astonishing that there are few narrow range Wednesday. The expectation of the news already may create higher volatility on Wednesday morning prior to the news release at 10:00 AM EST.

Then on Tuesday (prior to the news) and Thursday (after the news) you expect some narrow range days. 20.8% of this years NR7 days were Tuesdays, 33.3% Thursdays and 25.0% Mondays.

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 Snoop 
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Hi Locust,

Did you end up posting this?


Locust View Post
I thought to start eod, just as a filter.
Yes I did the Nrīs already, will post on the weekend, when multicharts is not actively trading.

I am still thinking though of taking his patterns to a next level, by trying to find more setups based on his approach.

Locust


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 Locust 
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Did not get around to do it yet,

but found this on the multicharts forum
MultiCharts: Trading Software for Automated Trading and Backtesting &bull; View topic - Using MultiCharts To Update Crabel Patterns

Locust

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 Locust 
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Snoop View Post
Hi Locust,

Did you end up posting this?

That would be my first attempt, so be kind with me.......

Input: NR(4);
IF H-L<LOWEST(H-L,NR-1)[1] Then Begin
PlotPaintBar(high,low,open,close,"Up",Blue,default,1);
IF CheckAlert Then Alert = TRUE;
End;


Locust


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 Locust 
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Big M. we have to coax this "furytrader" on our forum, may be free elite membership?
( I would sponsor him / her )

Locust


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