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Trading Fractals, Multiple Trendlines and Momentum


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Trading Fractals, Multiple Trendlines and Momentum

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  #1 (permalink)
Colorado Springs
 
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tdaman's Avatar
 
Posts: 130 since Oct 2010
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After watching a few of the Shadowtraders.com videos on YouTube I learned just enough on how to trade Fractals (aka pivot points) and multiple trendlines.

Example...
When two or more trend lines converge (begin to cross) in the direction of the trend the trend strengthens. When a trend line crosses in the opposite direction the trend weakens causing an inversion effect (support is now resistance and visa-versa).

I then come across A LOT more info on the web about using trend lines with momentum indicators like momentum, RSI and MACD.

So I overlayed a simple momentum indicator on a 5 min price chart with 10 autotrend lines (progressive strength from 1-10) and a Fractal indicator (see "Fractals_Mike" and all others here on futures.io (formerly BMT)).

Since Fractals are nothing more than a plot indicating a pivot point they still represent a form of support or resistance to be recond with when tested. Apparently, if price closes near the down side of a Fractal/pivot low or near the up side of a Fractal/pivot high and either is in the same direction of the overall trend chances are it will take you for a profitable ride!

Combine the Multiple Trend lines with Momentum and Fractal theories together and you've got a simple methodology to track range, trends, breakouts...!

So how do we make this profitable???

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  #2 (permalink)
Colorado Springs
 
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tdaman's Avatar
 
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Almost forgot... consider a higher trend chart and a lower entry chart both with 50 moving averages. I like a 5 minute trend chart and 1 minute entry chart. Yet, these details are subject to change based your feedback.

One last comment... I'd really prefer to keep this thread about how to fine tune this combination of the multiple trend lines, fractals (or pivots) and momentum type indicators with the primary focus on the main price chart. Therefore no more than 2 indicator panes.

The Gomi CD and or MP indicator is certainly a worthwhile candidate as a means to find support, resistance and open inventory. Definitely has potential to complete this picture.

As for support and resistance perhaps a few more higher strength autotrend lines would work?

Ultimately I'm hoping we can colaberate a way to keep it simple and intuitive...

THX!!!

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  #3 (permalink)
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Resources from Chart on Post #1...

List of futures.io (formerly BMT) indicators...
Auto Trendline
MACDBBLinesV4
DH_HorizPriceLine
DStochZeroLagOptimized
StochasticMomentumIndex
Momentum
Fractals_Mike

See attached current template from post #1...

Test Drive Anybody???!!!!!!!!!!!!!

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  #4 (permalink)
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I've since this post updated the template to include a total of 15 trendlines and a 50 ma. I also slowed the Momentum indicator from 14 to 50.

Here is the longer story showing how the momentum indicator follows the trendlines...

Looking left to track accumulation and momentum range (as per left column) on the same pane.

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  #5 (permalink)
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Added SwingRays indicator for horizontal S/R and added confluence.

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  #6 (permalink)
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Hey TDA,
Welcome to the trendline family Keep it up. You can also apply trendlines to your indicators, maybe you can play around with it.

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  #7 (permalink)
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I think I'll call this thread "PROJECT FOCAL POINT" (to trade Fractals, Momentum and Multi Trendlines)

The concept would be to centralize as much of the needed info in one area as possible while keeping it all quick and easy to read. ...I personally find it stressful having to scan all over my monitor when I'm trading.

For example: In pane 2 I've overlayed 3 indicators on the same pane while keeping them easy to read. To do this I use color and tone (I use to be a professional computer illustrator - note my avatar).

This is the same way that I overlayed the Momentum indicator on the price chart...
This time I added a second Momentum indicator (dot over price bars). Together I can see exactly
what momentum is doing relative to price.

By pulling the overall width of the chart I can register the momentum with price to check for divergences
at double top and bottom conditions.

Also see my analysis showing how to spot S/R on wider (2nd) attachment using a higher 15 min timeframe.

I've included all these updates in the attached template.

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  #8 (permalink)
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Visually organizing (layering) the indicators is key to making "Project Focal Point" work w all the trend lines and on screen momentum indicator.

Adjust the layers of your indicators by holding the shift key down while scrolling your mouse wheel.

1). Select and move the candlesticks to the front.
2). From there I move the on chart momentum indicator with the dot over the candlesticks (there are 2 now... one as a line the other a dot).
3). I prefer to keep all the auto trendlines in the very back as they should now be.
4). Layer any remaining indicators as you wish.
5). Saving your workspace should lock these settings (not always - not sure why).

Unlike my previous charts the attached charts show what it should look like...
Also, the 3 examples show how Widening/Narrowing the chart effects the on chart Momentum indicator (dark grey w dots over candlesticks and line in background)...

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  #9 (permalink)
Colorado Springs
 
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Posts: 130 since Oct 2010
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Just realized I have one too many things going on here...

1). Trading Fractals, Momentum and Multi-trendlines
2). ...and the Focal Point Project

Funny, this being my first major thread I guess I lost my "FOCUS"!

I hope we can marry the two to make this work?

Perhaps we can call it...
Using "Focal Point Visuals" to trade "Fractals, Momentum and Multi-Trendlines!"

Getting closer to technical side of trading Fractals, Momentum and Multi-Trendlines...

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  #10 (permalink)
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tdaman View Post
Just realized I have one too many things going on here...

1). Trading Fractals, Momentum and Multi-trendlines
2). ...and the Focal Point Project

Funny, this being my first major thread I guess I lost my "FOCUS"!

I hope we can marry the two to make this work?

Perhaps we can call it...
Using "Focal Point Visuals" to trade "Fractals, Momentum and Multi-Trendlines!"

Getting closer to technical side of trading Fractals, Momentum and Multi-Trendlines...

This looked to me like a nice thread....where are you know? Thanks for sharing, will watch the videos.
regards.

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