after Tuesday's tidbit we had a pullback in trend. Maybe at the time one would think it was a tread change. But anyhow just after 11:00 AM, we got a triple RED again. Okay trading fans we know what this means. Again this is another example of this strategy. Also, all my readers know what I am thinking at this time. Yes, futures.io (formerly BMT) members and followers of my thread......................"stay with the trade with the zlema". So I stayed with this short and gathered 50 ticks. On the range chart the 50 ticks worked well, it was a beautiful thing. But looking at the better renko chart, 100 ticks was the result. I realize it was in real time and the future was unknown. Check out the images. My point is the SharkTrend zlema is a fascinating moving average and worth a second look and maybe the glue to this strategy.
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I got the Range V4 loaded up tonite and it looks good. I'll keep it up tomorrow with the version 2. That Shark Chop is an ornery looking thing, but I see it's doing a fine job. (Several jobs actually). Started rereading Sharky's thread too.
You've put together a Great combination of indies and interpretation/methodology. Thanks.
I put this version on a YM 8 range chart, chose to show the FTZ Shark trend arrows (red and blue), and added back the anaSuperTrend with default 2.168, 2,2 settings to get a nearest match. (white and black).
1) The Shark Trend did not print arrows at 9:03, 10:02, and 10:19 even though the stop lines printed.
2) The anaSuperTrend default of 1,3,3 is tighter than your set up, coupla earlier entries, but more frequent chop. The settings above match more closely.
3) Do you use the 1,2,3,4,5 counts or keep it simpler to 3 reds or 3 blues.
Great stuff and great day for these systems. Thanks again.
My Asian and European readers and followers of this strategy did very well. The image again demostrates this strategy. The Asian session caught a triple RED and the European session caught a triple BLUE. The triple BLUE was good for almost 100 ticks.
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The rules for the strategy are triple BLUE, long and triple RED, short. Everything else would be guidelines, but those belong to trading style and trading style belongs to you. Less is more that is why I removed the anaSuperTrend. But maybe it is of greater value than the SuperTrend built into the SharkTrend.
1) I know the arrows don't always print. I do not understand the SharkTrend 100%. Maybe there is another condition in the code that has to be met for the arrows to print.
2) I was setting the parameters wide enough on the SuperTrend to stay in the trade with the zlema. Chop, that's why I added the SharkChop indy, to supplement your trading style with this strategy. Maybe the anaST is the way to go.
3) I don't use the numbers as a rule. All the indies can paint the price bars and when I was playing with that, I set the numbers to print in panel 1 so to know what the ESFX CCI was doing. I believe ESFX says when you see the #5, exit the trade. That's the way ESFX trades his strategy which is different.
Less is more: That's why I don't need to see the TSI and CCI indies in the template. Just the painted background and painted price bar. A future version would make these indies invisible. And for the SharkChop indy, if you study the price action and the SharkChop, you can anticipate the "lines" in the indy. You will know what the lines will do if price moves higher or lower and that before it happens. It's like if you had the indy imprinted on your brain, your inner vision would plot the lines as the price action unfolds. The SharkChop is like a crutch you can throw away when you can read price action.
More or less: The chop lines show divergence and a trend change cross also. And they show rejection. Rejection off the chop lines and rejection off the center line. For me the double stoch shows divergence and cycles. That's why in a zlema trend the stoch will diverge and head higher only to be rejected in the center of the indy scale as price consolidates and the cycle leg is truncated. And lastly, I need to study the ZiNonLagMA in the SharkChop vs. the zlema in the SharkTrend to get a handle on this relationship. Maybe it's love at first sight.
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I posted my results in my journal. Working great. $700 before 12:30 and off to golf. Another 60 points if I had not golfed.
I added the anaSuperTrend with 1,3,3 settings, it's getting me in earlier, but on two occasions it got me out too early. So I boldly tried a new rule and re-entered on the 3 colors and it worked great. The three color system is also comforting and confirming when you've taken the earlier anaSuperTrend trade.
As I review the day with just your 3 color goggles and following just your rules and ignore the anaSuperTrend, it would have kept me from getting stopped out on the 2nd trade in the afternoon (when I was actually golfing, but marked up anyway), it would have kept me out of a couple 8+0 trades, those being about a wash. If I had not re-entered though, I would have missed some good runs. Going to keep them both on, but might start leaning your way.
I'm still looking how to take actionable steps with the Chop indicator. Do you have any insight?
Have you manually back tested a bit to see how your system works on certain types of days - narrow range, wide range, choppy, (obviously trending is good)?