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JetTrader: Developmental Live Cash Journal
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JetTrader: Developmental Live Cash Journal

  #11 (permalink)
Trading for Fun
Edmonton, Canada
 
Futures Experience: Master
Platform: BARX
Favorite Futures: Currency Pairs
 
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Posts: 187 since Apr 2011
Thanks: 12 given, 161 received

OmegaWave Long Trigger:

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Long is now +5 and moving. I'm looking for the H1 Maximum Omega-Absolute value to be struck today. That can be seen by way of the White Dotted Line inside the Indicator Window on the H1 Chart. Maximum Omega-Absolute value represents a routine daily expansion point on the H1 chart. At some point during a normal OmegaWave range, the H1 bar will start to produce at least one strike against Minimum Omega-Absolute value (Purple Dotted Line inside Indicator Window) and Maximum Omega-Absolute value (White Dotted Line inside the Indicator Window). Thus far, there has been no H1 strike on Maximum Omega-Absolute value. That tells me that the big H1 bar has probably not happened yet.

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  #12 (permalink)
Trading for Fun
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The -28 loss was way too much for this type of signal. I got caught between typing my post and closing the trade. By the time I got back to the trading platform, it was too late. Like I said, these OmegaWave trades can be over in seconds.

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  #13 (permalink)
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Because I don't have a Short re-trigger, I am holding the Long position in the 1400 GMT H1 bar. Currently, -2.1 pips with 10 minutes remaining in the 1400 bar.

The way this works is that I will continue to hold the previous signal (Long in this instance) through the start of the next H1 bar, and wait to see if the OmegaWave continues to push through. Currently +4.8 pips.

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  #14 (permalink)
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JetTrader View Post
- OmegaWave on the H1 time-frame
- CD Harmonic Intercepts on the M1 time-frame
- AB-127 Recovery from CD Harmonic Intercept Failure on the M1 time-frame



- OmegaWave on the H1 time-frame:
[INDENT]Omega was the first indicator that I created, almost 10 years ago. It was patterned after Wilder's ATR. Like ATR, it measures the volatility in all bars and for all time frames. It is the purest form of real momentum in existence. There is no other form of market momentum as pure as ATR. Omega, goes a few steps beyond ATR, by plotting multiple moving averages of the Deltas produced by the High and Low of each bar within a specific range of dates. Those MAs produce the OmegaWave effect that can been witnessed inside a chart's indicator window. In addition, I use a modified calculation to produce the Deltas that Wilder, first created. So, my Omega Indicator will not produce the same Delta that is obtained with a basic ATR Indicator.

Research shows that all currency pairs produce an OmegaWave, but that not all OmegaWaves are reliable for the purpose of executing momentum trades. However, the secret to understanding the OmegaWave effect is very simple. The higher the volume, the smoother the OmegaWave. The smoother the OmegaWave, the more reliable the momentum. Poor OmegaWaves, produce momentum price action that is subject to rapid stalling characteristics.

The idea, is to enter a trade during the highest period of momentum, while the OmegaWave is in its Expansion Phase and at the intersection where Omega (the bar's High/Low Delta) crosses one of more of the MAs produced by the OmegaWave calculation. Essentially, these MAs are what I call Tactical Omega (fast) and Strategic Omega (slow). There are other advanced Omega derivatives, but they will be beyond the scope of my purpose, here. Again, the quality of the trade, is typically dependent upon the quality of the instruments OmegaWave Form.

Just to try and begin to wrap my head around the idea behind your system here, you say that "The idea, is to enter a trade during the highest period of momentum, while the OmegaWave is in its Expansion Phase and at the intersection" meaning that this system has some of the same characteristics of a trend following system? What I mean is, you won't be trying to (the system won't) be picking tops and bottoms?

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  #15 (permalink)
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Have to deal with Q&A later - I'm barely able to keep up with TinyPic, print screen saves and update posts - not to mention, actually trading the signal. Normally, (obviously) I don't have to do all this. Sorry.

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  #16 (permalink)
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H1 1500 GMT now underway. Holding previous OmegaWave Long @ -3.1 pips.

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  #17 (permalink)
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OmegaWave 1400-1500 continuation Long (Hold):

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  #18 (permalink)
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Note that Omega-Absolute (Yellow bar seen in Indicator Window) is just starting out for the H1 1500 hour. I'm still looking for a strike on Maximum Omega-Absolute Value (now seen in a White Solid Line). I changed the line properties to make it easier to see. Minimum Omega-Absolute Value is now a Purple Solid Line inside the Indicator Window. Both are in the H1 chart.

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  #19 (permalink)
Trading for Fun
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Note also that I have not moved the OmegaWave trigger lines (dotted green and red) in the H1 chart. That's because I am holding the "previous" or "last" OmegaWave Signal.

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  #20 (permalink)
Trading for Fun
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Posts: 187 since Apr 2011
Thanks: 12 given, 161 received


I have not checked the news at all today, which is something I normally do before 5am. These are just live confirmation tests, so it is not that critical. However, normally, I am well aware of any news events that might coincide with my trades. Current: +5.3 pips.

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