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Here's the latest. I've added the PRC indicator, as it seems to provide some value. I've attached the indicators (zip file), the screen shot (jpg) and the chart template (.xml). Best of luck, mate.
After all, it's what you learn AFTER you know it all, that counts!
This is just great! Thanks so much for taking the time to share. I've been testing and practicing this on market replay and so far it's been helping me make better calls a lot.
This thread has a number of setups dating all the way back to 2010 (NinjaTrader 6.5). I was in my experimental / learning phase (and in some respects, still am!)
Many things have changed since then. Best to scroll down to the last page in the thread …
After all, it's what you learn AFTER you know it all, that counts!
Thanks Wizard! Will do. Man this is just great! I've been making a killing demoing this and using market replay. Trading 4 contracts. Taking off 3 contracts at 4 tick profit then let the last run with a 6 tick trail. I'm using 4 Range bars on ES, 8 Range on Crued, 6 Range on Gold, BP, and Euro. I'm not taking a trade unless price is at the top or bottom of the PRC indicator and reversing. Just now starting to look for confirmation from higher time frames for reassurence and possible longer runs.
Of course I know it's a lot different when real money is on the line. But this is a great start to get my confidence back up. Thanks again.
Just be very careful using PRC. I decided to do that, too, last week, went short at the top of a PRC band, then watch price fall a little bit, then rise & rise & rise & watched the 'down-trending' PRC gradually re-draw itself into an UP-TRENDING PRC. It was then I stopped trusting the little _itch!
SMI won't "re-draw" it's direction on you! When it's pointing up, price goes up, when it's crossed & then is pointing down, price goes down. No 're-calculating' to 're-draw' what IS as opposed to what WAS. Be careful with that wicked little _itch, I'm tellin' ya!
After all, it's what you learn AFTER you know it all, that counts!
