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CL 01-12 is in a downtrend, as indicated by the 60 minute chart. Yesterday's VWAP was 94.70 (orange line, ETH). Any move up to 94.70 can be considered a test of value, which should be considered for a short.
However, there is a number of reversal bars up on that chart, which indicates that there is upward pressure. Worse, we are close to rollover to CL 02-12, and given the recent down trend a short squeeze of some traders that are trapped with the old contract cannot be excluded.
If I look at the 5 min chart, I see a nice reversal bar touching the 3rd standard deviation. This was indeed a clear short at 94.70, which I exited one tick above the floor pivot PP at 94.44.
Where can I find the ACD indicators you wrote. I just got a quote from a guy asking for $400 to code me an OR and pivot indicator. I know you don't trade the exact system but have coded them for comparison.
Exported using NT Version 7.0.1000.26
Indicators will only run on NT 7.0.1000.5 or later.
Family of 6 indicators to display daily, weekly and monthly pivots and OHL of current day, current week and current month. The package includes
- anaPivotsDailyV43
- …
Exported using NT Version 7.0.1000.26
Indicators will only run on NT 7.0.1000.5 or later.
Family of 3 indicators to display daily, weekly and monthly pivots. The package includes
- anaPivotZonesDailyV43
- anaPivotZonesWeeklyV43
- anaPivotZ …
Exported using NT Version 7.0.1000.26
Indicator will only run on NT 7.0.1000.5 or later
The indicator displays the opening range and the current open of the RTH session. This version is a multi-timeframe (MTF) version of the standard OpeningRange …
Exported using NT Version 7.0.1000.26
Indicator will only run on NT 7.0.1000.5 or later.
The indicator displays the current open, the initial balance (IB) and upper and lower range bands that are calculated by adding and subtracting fractions …
You will not find anybody who would code something similar for just $ 400.
Sorry but this message is a response to your PM, but I can't respond bc of the 5 post rule.
That sounds great, I also read that you think the noise bands are better indicators as breakouts being valid or not and using the volatility bands as targets. I happen to agree with you that ACD signals mostly happen too late into the breakout, therefore missing a lot of the move. I must say you got my attention with the noise and volatility bands. Is there any way you could explain how you use those indicators, as I saw you wrote in your one post (#66) that you could use the noise and volatility bands instead of ACD.
