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THREE SET UPS


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THREE SET UPS

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  #851 (permalink)
 shodson 
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cory View Post
it looks the same as better volume indicator, select lowbar and lowchurnbar

Yeah, it's my version of BetterVolume with a few of my own additions, but the colored volume bars are essentially just BetterVolume.

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  #852 (permalink)
 shodson 
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vast View Post
Shodson, what is the new filter you are using? Is this tied in with the post a few pages ago about the HVC bars? Better volume?

Here's an example of today's IBs using free and publicly available indicators. I would have passed on one loser and two winners but got 1 winner in the afternoon. Realistically, trading all IBs, the 3rd trade would not have been taken because I would have still been in the 2nd trade, so actually normal results would have been 2 winners and 1 loser. However, with the NR4 and volume filters, instead, I would have just had 1 winner and no losers, just taking the last IB trade. The winner would have been a multiple > 1 winner as well.


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  #853 (permalink)
 shodson 
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shodson View Post
Here's an example of today's IBs using free and publicly available indicators. I would have passed on one loser and two winners but got 1 winner in the afternoon. Realistically, trading all IBs, the 3rd trade would not have been taken because I would have still been in the 2nd trade, so actually normal results would have been 2 winners and 1 loser. However, with the NR4 and volume filters, instead, I would have just had 1 winner and no losers, just taking the last IB trade. The winner would have been a multiple > 1 winner as well.

So you may be asking "shodson, based on your testing, you must be trading these and making money hand over fist, right?" Well, not yet, and here's why: Session start time. When I backtest I usually start the session 1-2 hrs in front of the open so I have some bars before the open but I don't backtest a 24hr session in order to speed up the backtesting on the 1-range bars. The problem is that I get different results with different session start times, especially since the BetterVolume needs 20 bars (5hrs on a 15min chart) to compute its averages so my quandry is whether or not I should backtest the 24hr session, just the RTH session, or a few bars in front of the session like I was doing before (for the NR4 calculations). Take a look at these variances on CL-09.

In my time zone (Pacific) CL opens at 6am, closes at 11:30am, CL-09, 7/20 - 8/19, IB must be NR4 and normal volume.

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  #854 (permalink)
 Big Mike 
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@shodson,

With such a small sample size (12 trades), I think you should ignore the 'performance' results (net profit). If your indicator requires 5 hours of historical data prior to plotting @ the open, then it seems like you need to probably run a 24h ETH chart, and just set the strategy to only trade during RTH.

Mike

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  #855 (permalink)
 shodson 
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I have my IRA at thinkorswim, and it's been all cash for years now, and I think I'm getting ready to trade this account soon. So I thought I'd do some SIM trading on TOS do get used to their DOM/ladder. I saw what I thought looked like an unconvincing reversal bar so I went with-trend and shorted it for a nice 2pt SIM win.

I like the TOS DOM, it's nice, but it doesn't have ATM like Ninja, but I don't really use ATM anyways so it may not matter. Or, I'm stupid for not using ATM. The $7 RT commission at TOS doesn't get me very excited either, and I might be able to negotiate that, but I like the ability to trade stocks, options, futures and forex (not in IRA though) from one single account, not 4 separate accounts like you have to have with Tradestation. But if I'm just going to trade futures I might as well move it to Tradestation so I can get some of the advantages of that platform in addition to Ninja.


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  #856 (permalink)
 papa15 
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I do my futures trading at ToS and I don't pay $7 RT. I wrote Tom Sosnoff (sp?) the president of the company and asked for a lower rate and he gave it to me since I was "a long time swimmer". If you have been there for years, you will most likely get a lower rate. I pay $5 per RT for any futures contract. Not as good as some for emini's, but better than most for currencies and crude oil.....

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  #857 (permalink)
 jtrade 
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Jeff - should you, shodson, FT or other generous programmer ever be in the mood, I'd be very appreciative for a ReversalsV7 featuring a marker above the IB, OB & RB that also happen to be NR4 bars. An NR4 alert would be even better, especially if it would work in a Market Analyser window.

Ninja's Bertrand coded an elegant NR* indi, which I attach here if reference would help. The trouble with simply adding this indi is that it marks all NR4 bars, as opposed to only those that are also "The Castille Three".

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  #858 (permalink)
 jtrade 
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Jeff Castille View Post
I thought it might be a good idea to look at each bar type on a individual basis.

So........let's start with the "INSIDE BAR"

Since 5/17 until today 6/16 on a 15 minute chart of CL during the hours of 6-9 am PST and 10-11:15 am PST there have been 46 inside bar trades......40 have been winners (at least +8+1) 2 have been stop outs......and 4 have met the criteria for a stop and reverse.

For a trade to qualify for a stop and reverse.......it must hit the initial stop within the trigger bar. On the 2 regular stop outs......the trades did not reach their targets or stops within the trigger bars (15 min) and the initial stops were moved to take us out of the trades without having to reach the initial stops.

Also, I have been trading signals that set up pre pit open and during lunch as long as the trigger bar is within the trading times listed above.

Jeff - I just reviewed this thread and thought I'd add the SAR set up for IBs as you describe.

However, if I read your rules correctly, surely it's no longer an IB : it has become a standard Outside Bar entry (in which case your stats above should read "46 IB trades total : 40 winners / 6 losers; 4 of the losers were followed immediatey by Outside Bar winners") !?

Please let me know if I've misunderstood - sorry if this was covered and I missed it - and have a great weekend.

J.

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  #859 (permalink)
 shodson 
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Saw a nice IB setup but felt like going for a big move instead of a scalp, trailed it with a LinReg and MOBO bands on the 3min, got +57 ticks




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  #860 (permalink)
 Jeff Castille 
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Excellent work Shodson!!! You da man.

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