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

  #31 (permalink)
Trading for Fun
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OmegaWave 1400 - 1600 GMT continuation:

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H1 OmegaWave still intact and still has Omega-Tactical over Omega-Strategic. M5 OmegaWave has cycled twice, while M15 and M30 are both working on their first OmegaWave cycle. As long as the H1 Omega-Tac (Gray MA line) remains > H1 Omega-Sac (White MA line), the daily session is still in Expansion Phase (see original OP post for explanation).

Neither 1200, 1300, 1400 or 1500 brought about a strike on Maximum Omega-Absolute (White Solid Line inside H1 Indicator Window), so my expectation would be for that strike to occur during this hour - if not, the next hour and so on, until H1 Omega-Tac crosses below H1 Omega-Sac, which would indicate the end of the Daily Omega Expansion Phase and the start of the Daily Omega Compression Phase. At that point, the types of trades that I take would change, as the probability for Omega continuation through its TAC/SAC level(s) starts to diminish.

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  #32 (permalink)
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Since this is essentially the certification phase of a new signal, which will ultimately become a filter for the already existing primary trade signal for the system, I don't have any particular rules of engagement for money management on these types of trades.

Right now, the current money is: +21.9 pips. 21.9 + 18.4 = 40.3. 40.3 - 28.9 = 11.4. So, I could take the 11 and wait for the next H1 OmegaWave signal. But, I'll just hold this current Long position, given that I know Maximum Omega-Absolute is still lurking for the day on the H1 chart (White Solid Line inside H1 Indicator Window).

OmegaWave is an ND signal and a pure momentum trade. So, there is no directional bias to the signal. The entry is purely determined by the intersection of Omega-Absolute (Yellow bar) and Omega-Tactical/Omega-Strategic (White and Gray MA lines seen inside H1 Indicator Window).

Right now, the 2B Vic Short signal at 1.36379 is providing the source for the stall in upward MO on the EURUSD.

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  #33 (permalink)
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H1 OmegaWave Entry Levels

Entry = Intersection of Omega-Abs with Omega-Tac + Omega-Sac

Right now, for H1 1600 GMT, Omega-Tac = 32 pips and Omega-Sac = 29 pips. So, those two averages make up the entry level for either the Long or the Short trade (If I were flat the market right now).

Because these are hourly signals, I simply subtract Omega-Tac + Omega-Sac / 2 from the current High to obtain the H1 OmegaWave Short entry level. Or, I simply add Omega-Tac + Omega-Sac / 2 to the current Low to obtain the H1 OmegaWave Long entry level. So, one can see that the entry levels are dynamically changing until the intersection between Omega-Absolute (Yellow bar) intersects Omega-Tac/Omega-Sac.

Right now, I'm currently holding a previous OmegaWave signal (Long). If I were flat the market, my next (dynamic) H1 OmegaWave Long Entry would be 3660.1 and the H1 OmegaWave Short Entry would be 3615. Note - both entries locations are dynamic and subject to change based on where price happens to be at the moment Omega-Absolute (Yellow bar) intersects Omega-Tac/Omega-Sac (White and Gray MA lines plotted inside the H1 Indicator Window).

As price changes AND until the intersection occurs, the actual entry levels will adjust as well. These are not fixed entry points - they move with the market, up to the point of Omega-Abs and Omega-Tac/Sac intersection.

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  #34 (permalink)
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JetTrader View Post
I don't trade on the IBFX platform - I use their data for my test signals. Observe the box in the lower right corner of all the screens posted - that might help.

so you trade off a demo data feed for generating your signals? interesting...

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  #35 (permalink)
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Only 14 minutes remaining in H1 1600 (GMT) and still no strike on Maximum Omega-Absolute Value (White Solid Line inside H1 Indicator Window). Which means either two things:

1) Today's Daily range will be truncated

or

2) A fairly large scale thrust is imminent

Again, OmegaWave is a non-directional signal - the key is to lurk and pounce. The timing comes with the entry intersection as described above.

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  #36 (permalink)
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sysot1t View Post
so you trade off a demo data feed for generating your signals? interesting...

For testing purposes, yes. On BARX, no. BARX tends to be a lot smoother and that's where my production trading takes place, until I get over to FXall.

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  #37 (permalink)
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6 minutes remaining before the new H1 1700.

IOC re-cycling on M5, M15 and M30, which is a natural occurrence before the next larger move - or - just before Daily Omega goes to sleep. It seems a bit early for Daily Omega to start sleeping (though it can sleep early), and the H1 Maximum Omega-Absolute Value spike has not happened yet.

So, I wait/lurk patiently.

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  #38 (permalink)
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H1 OmegaWave 1400 - 1700 continuation:

Note M5, M15 and M30, all have Blue Omega-Absolute bars in their respective Omega indicators. This simply shows that Omega-Tactical (Gray MA line) has crossed below Omega-Strategic (White MA line) for each respective indicator. Recall, Omega-Tac is the faster, while Omega-Strategic is the slower of the two MAs.

The most important thing that stands out in my mind is on the H1 Omega Indicator. You can see H1 Omega-Tac and Omega-Sac is now 29 pips. That means they are at parity with each other in the middle of the U.S. trading session. Either volatility is going to sleep on the EURUSD for the remainder of the day, or a rather large spike is forthcoming.

Still, H1's Maximum Omega-Absolute has not yet been struck and that's what I'm hunting.

The hunt for Max Omega.

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  #39 (permalink)
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r3algood View Post
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?

With things a bit slower now...

What's being posted here is not the trading system I use. In my first post, I indicate that I am in the final phase of certification of three (3) new additions to the larger scale system and that I expected to either find that they act as Filters or Anti-Primary Signals. So, there is no system being shown here.

However, to answer your question, no. Omega might take-off and run against the trend (as it has for the past 4 hours). Also, when speaking of trends, one has to define the time frame, else the term has little to no meaning. An M1 "trend" -vs- the MN "trend" can be quite different.

Ultimately, the OmegaWave signal should put me directly inline with the 'current' market flow - whatever that is and whenever it occurs. So, OmegaWave simply becomes the on-ramp to the market's freeway. But, the idea is to only use this type of signal/indicator when the probability for continuance AFTER the entry is the highest. That's the key. If that probability is high, then momentum takes care of the rest. The indicator itself simply breaks down the natural volatility into measurable and quantifiable components that can be used in an algorithm for entry.

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  #40 (permalink)
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Current money picture is now: +16.9 pips. I won't let this one get negative. The previously mentioned 2B Vic Short entry turned out to be trade-worthy for those that use such signals.

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