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not trading off the seat of my pants
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not trading off the seat of my pants

  #81 (permalink)
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triple color

curious, triple means background, painted bar and MA color on panel 1?

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  #82 (permalink)
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Triple....


supermht View Post
curious, triple means background, painted bar and MA color on panel 1?


Yes.........................

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  #83 (permalink)
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rpm123 View Post
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)?

Are you using any other rules besides 3 colors? Support and Resistance, MA, anything?

Any more insight to why diamonds and arrow sometimes appear and sometimes do not?

Lots of questions, you've developed something great here, want to fully understand it before I try it on more expensive markets. thanks again.

Patrick, you did a fine job Friday as the YM was yielding the points. I saw YM's performance so I switched my attention to it also. The SuperTrend can be a great stand alone strategy or like yourself, you double it up with another strategy. I was thinking that the SuperTrend can also be an early alarm for a pending trade in the Triple Color strategy. Or how you were using the two together.

I have not back tested the strategy at all. Just forward testing. I have been working on a Triple Color strategy for a while, but as of June 1st, I settled on the SharkTrend zlema as the ema for the strategy. And of course I have the variations of the Triple Color as this is a work in progress.

I wasn't using any other rules for the Triple Color strategy. On Friday when I was playing with the 4 renko YM I was using the numbers 1-5. I figured when you get to 5 the trade was over or almost over.

Next week will be a big week for this strategy because I am really zoned into it with the charts. Studying the price action and the colors with laser sharp attention.

Another possibility of just using the SuperTrend is that you get whip sawed. And that is why the SharkChop may be of help. The gold and green dotted lines are the chop lines on the SharkChop indy. The chop zone is between the 40 and 60 lines. If the chop lines cross the 50 line than we have a trend reversal as long as the lines continue to exit the chop zone. If there is a 50 line rejection and the lines exit the chop zone, we have a continuation trade. If chop lines stay in the chop zone than price is consolidating. The least likely is the chop lines will plot wider swings inside the chop as price chops while in trend, a whip sawed sloped trend. The best triple color trade is when the chop lines paint the background, price is trending.

And finally for the diamonds and arrows.................I'm not getting the logic behind their plotting. So right now for me they are a distraction. The more I post the more I learn myself.

Tiberius

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  #84 (permalink)
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ZLEMA beats anaST

My journal shows I had a bad day, did not follow the indies, but here's the theoretical charts with the anaST marked up, and the zlema calc'd to, with the zlema coming out strong on both the 8 and 20 range charts. Good stuff.

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  #85 (permalink)
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ichi cloud

So i noticed that last chart you posted on my journal page had an ichi cloud. Thoughts?

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  #86 (permalink)
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looking at Trend


rpm123 View Post
So i noticed that last chart you posted on my journal page had an ichi cloud. Thoughts?

Even though JW used it as support and resistence, stop placement as well as trend. I had the cloud on the chart, as to stay in the trade like the zlema. I was looking at it's utility in my trading style.

Like this chart that I just whipped up: it uses the SuperTrend to enter and stop placement. Just go in the direction of the Trigger Lines and zlema. Use the background also? The TriggerLines are like a cloud.

I was looking at this chart and one probably should shorten the parameters on the SuperTrend.

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not trading off the seat of my pants-tuesday.jpg  
Attached Files
Register to download File Type: xml Beta v1 SuperTrend TriggerLines.xml (30.4 KB, 17 views)

Last edited by Tiberius; June 21st, 2011 at 02:02 PM. Reason: template
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  #87 (permalink)
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make it a cloudy chart...

now with this you have to wait for two clouds before it starts raining money....................

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  #88 (permalink)
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Volatiliy can only be measured on time-based charts

The SuperTrend is a modification of the Chandelier Stop, which was tested by Charles LeBeau. For the chandelier stop the highest high is used and typically 2 average true ranges over the last n bars are deducted.

The Supertrend use the Median instead of the high, so you would not need to deduct 2 ATRs, but can try 1.5 ATRs over a few bars. If you apply this indicator to a range chart, your average true range is always the range that was selected for the chart. So you have replaced the idea of a volatility based stop with a stop that uses a fixed offset from the median. This is not what the SuperTrend was designed for.

To catch the original idea of a volatility based stop on a range chart, you would have to calculate volatility from a secondary bar series via a multi-timeframe indicator. This will be available soon.

If you look at the SuperTrend applied to a 5 min chart (time-based) it does work quite well, if you give it a little wiggle room, see chart 1 attached.

You could also try something like the BrainTrend1, which is attached to the highest low from which it dedcuts a fraction of volatility, but uses the stochastics to identify trend changes, see chart 2 attached.

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not trading off the seat of my pants-supertrend-m1.jpg   not trading off the seat of my pants-braintrend-1.jpg  
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  #89 (permalink)
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Fat Tails View Post
The SuperTrend is a modification of the Chandelier Stop, which was tested by Charles LeBeau. For the chandelier stop the highest high is used and typically 2 average true ranges over the last n bars are deducted.

The Supertrend use the Median instead of the high, so you would not need to deduct 2 ATRs, but can try 1.5 ATRs over a few bars. If you apply this indicator to a range chart, your average true range is always the range that was selected for the chart. So you have replaced the idea of a volatility based stop with a stop that uses a fixed offset from the median. This is not what the SuperTrend was designed for.

To catch the original idea of a volatility based stop on a range chart, you would have to calculate volatility from a secondary bar series via a multi-timeframe indicator. This will be available soon.

If you look at the SuperTrend applied to a 5 min chart (time-based) it does work quite well, if you give it a little wiggle room, see chart 1 attached.

You could also try something like the BrainTrend1, which is attached to the highest low from which it dedcuts a fraction of volatility, but uses the stochastics to identify trend changes, see chart 2 attached.

@Fat Tails . Wow. Learn something new every time I log on. I've been using anaSuperTrend on Range bars and its worked better than any other system I've had. Maybe mostly because Range bars let me "see" better than anything else I've used. Will look for the BrainTrend1 and cannot wait for your new indicator to be available soon.


Last edited by rpm123; June 21st, 2011 at 07:53 PM. Reason: spelling
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  #90 (permalink)
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rpm123 View Post
@Fat Tails . Wow. Learn something new every time I log on. I've been using anaSuperTrend on Range bars and its worked better than any other system I've had. Maybe mostly because Range bars let me "see" better than anything else I've used. Will look for the BrainTrend1 and cannot wait for your new indicator to be available soon.

Actually, when you use the Supertrend on a range chart, there is a volatiliy component. But it is not the ATR, it is the period of the median. Consider the multiplier of the ATR as a fixed amount for the offset, whereas the increase of the period for the median allows you to catch momentum, which is a projy for volatility. So, whether with a fixed offset or an increased median period, the SuperTrend can definitely be used on range charts. But it gives slightly different results from its application on time based charts.

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