All you need

August 29th, 2009, 05:11 PM

I have found some of Barry Burns' lessons useful. Here is a link to a free 5 video training course. stock market trading and forex trading strategy - stock and forex trading

Mahlon

August 29th, 2009, 06:00 PM

Hi Jeff,

Can you share your template and indicators from your post #164

August 29th, 2009, 06:08 PM

Hi Milford,

I didn't save that chart as a template. It was just a quick illustration for oscillator comparison. The basis for that chart was Mahlon's template which I tweaked a bit. Mahlon has posted his template on this thread. He called it "My simple chart 20090828" I just added an LBR 3/10 oscillator and changed the slingshot moving averages to 20 and 50 EMA and took off the volume to get a better look at the oscillators.

August 29th, 2009, 06:09 PM

mahlonhersh

Jeff,

Observing divergence is interesting, but is it reliable enough to go to the bank with? I also started out with TI as some other guys on this forum did. Divergence works sometimes and sometimes it doesn't. I have found it messes me up more than helps.

As far as Sharky's implementation of ECO with the blue band - I have added another line at +5 and -5. This is what triggers my entries. If I cross +5 I will look for a long entry. If price crosses -5 I will look for a short entry. Sharky had suggested +/- 10. I found that to be a little late at times. I found that if it crossed 5 it would often continue on to cross 10.

I have had LBR 310 on my charts at times - but usually if an indicator doesn't "gel" with me I don't keep it. But I have often returned to ECO implementations of various forms - paint bars, oscillators, Sharky's systems, etc.

Mahlon

Mahlon, how were you able to adjust the bands from the +/-10 to +/-5, I couldn't see how to do that. I noticed the same thing you did, that by the time you waited for it to go above or below the +/-10, much of the move would have been missed or it would pop above or below and probably get you in only to fail.

Thanks Jeff ( I'm also Jeff )

August 29th, 2009, 06:19 PM

Hi Jeff, Thank you for your replay.

Where can I download slingshot indicator

August 29th, 2009, 06:31 PM

Jeff Castille

Hey Cunparis,

Thanks for the input. I would be very interested in checking out any indicator that you are willing to post. (sine wave/better volume)

I'm attaching the free NT sinewave. I've tested the free NT sinewave & the Better Sinewave for Tradestation ($167) and they're slightly different. I've not decided that one is better than the other. The free one I'm attaching here, it has two methods of calculating: RocketScience & Cybernetics. The two methods are described in Ehler's books of the same names. I tried reading the Rocket Science book. I have an engineering degree and had to take a bit of math. I didn't understand his book and gave up. There's some serious math there.

in my testing on NT I preferred the Cybernetics version which comes from his second book.

For better volume, here's the link:

https://emini-watch.com/uploads/code/BETTER_VOLUME_25JAN09.zip

I have not yet tried to port it to NT, since I use TS it's not a priority. I tried once but NT doesn't have historical upticks & downticks like TS. But the author found a way to do it by coding it as a strategy that you add to your chart like an indicator.

I had planned on starting a thread about all this and I don't mean to get off topic. However if you're wanting to add an indicator, I think it's relevant.

One more thing: It took me several months of manual backtesting and simming to learn how to use the Sinewave. And even then after 2 months of consistent profitability, I started loosing. I think that has more to do with me getting lazy and not reviewing all my trades every day, but I'm just saying this because I used to write a quick backtest for every indicator I found and was disappointed when time and time again they never "worked". now I realize that it takes months of practice and skill to make them work, and I do not believe that it can be automated.

August 29th, 2009, 06:42 PM

milford

Hi Jeff, Thank you for your replay.

Where can I download slingshot indicator

Milford,

Here is the slingshot zip. The first time I have tried this so I hope you get it ok.

Jeff

August 29th, 2009, 06:49 PM

jdella

Milford,

Here is the slingshot zip. The first time I have tried this so I hope you get it ok.

Jeff

thanks Jeff

August 29th, 2009, 07:09 PM

Jeff Castille

Here's my question...... do we need and oscillator on our trading chart? And if so which one would be the most helpful?

As far as I can tell the best use for an oscillator is to identify divergence. That's about it. Perhaps additional confirmation of what we're seeing on the price chart. But again.... the oscillator is not telling me anything that the price is not already telling me.

So, I created a comparison chart that I'm posting to look at two excellent oscillators. The Sharky Eco and the Linda Rashke 3/10 oscillator. I would appreciate some feedback as to which oscillator is the most helpful to your trading. And if neither, which oscillator do you prefer and why.

The chart I'm posting is my tweak on Mahlon's chart. Check it out and let me know what you think.

Jeff

Here is another version with the volume graph applied and the ema colors, just something else to look at. Its on the CL 6 range chart

August 29th, 2009, 07:15 PM

Thank you all for your replies on the oscillator question.

However, I am now more convinced than ever that I don't want to be dependent on oscillators for my trading. ( not to say I'll never look at one again)

For those that read the Linda Raschke article..... a quote. "........oscillators are a crutch for just showing you what's there in the bar chart anyway......You can train yourself to see everything in a bar chart that an oscillator will tell you." Omeaga Reasearch Spring 1998

So....... why not go direct.... eliminate the middleman..... oscillators only have the information that the price provides.

Now, if LBR is correct and oscillators are a crutch..... are crutches a bad thing? Not if you need them to walk!! But it is my goal to one day throw away my crutches and walk on my own. That is why I'm very excited about the "Reading Price Action" thread. I saw that GarryM has posted a list of topics that he intends to address. It looks like it will be an extremely helpful thread.

Bottomline.... if you make money trading with oscillators..... whatever works is good !!!

Off to a wedding tomorrow. Have a great weekend, Jeff

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