Well, It may not be the Holy Grail, but it comes pretty close.
September 12, 2009 update: *** SEE POST # 396 for latest (probably the last) CHART TEMPLATE UPDATES.
**** SEE UPDATED POST # 349 - dated September 3, 2009 for the LATEST HOLY GRAIL UPDATE / CHART TEMPLATE ***** AND - I've added a *NEW* indicator that helps keep you out of 'false signal' trades. If you haven't tried the HolyGrail package, I encourage you to download all the stuff at post # 353 of this thread & give it a try! I think you'll find that it's as good as some of the commercially available $3k / 4k packages out there!
SEE UPDATED POST - DATED 07/27/09
(Thank you for asking. Here are the indicators & screen shots of all the settings. Let me know what you think. I welcome all suggestions for improvements / enhancements.)
Last edited by TheWizard; July 28th, 2009 at 03:10 PM.
Reason: SEE 07/28/09 Post for Indicators & Template
The following 3 users say Thank You to TheWizard for this post:
I think I got it from this forum (NinjaTrader indicator downloads). As far as I can tell, it stands for Stochastic Momentum Indicator. It seems to have a smoothing function that filters out most of the noise. I had looked for something like this for a long time. Fast Stoch / Slow Stoch / Double Stoch, etc. - Always gave funky readings that I couldn't correlate to price-action. This seemed a better fit. I changed the default settings for a better match (indicator-to-price action). You could fine-tune it a little better by changing the settings of 14,13,5 to 10,13,3, but that makes it a little harder to read (too close to it's signal line most of the time) & a lot of false indications.
Ntsst3: (and all others who may share an interest...)
I'm working on writing up exact entry/reverse position/exit rules with accompanying *new* indicator(s)/settings & screenshots. I should have something to post 7/26/09. I discovered some short-comings in the settings / indicators I was using 7/22 & 7/23 & decided to give everything a closer look & came up with something much more accurate than what I had been using (enhancements, mostly). I'm taking the day off today. Here's a (enhanced) screen shot of Friday's TF (233 tick) with the new indicators/settings & lines drawn to indicate where I went long/short / reversed position. Thanks for your interest!
BTW: I forgot to mention, I finally gave in & changed the "green" settings to "blue", since that seems to be the 'industry standard' out there in the trading world & it will make it easier for everyone else, since they wont' have to go in to modify settings to change my green indicators to blue.
Last edited by TheWizard; July 28th, 2009 at 03:11 PM.
Reason: SEE 07/28/09 post for Latest Indicators & Template
The following 5 users say Thank You to TheWizard for this post: