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Indicators Looks like EOT Allas


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Indicators Looks like EOT Allas

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  #11 (permalink)
Sydney - Australia
 
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Hi Elliot Wave,

That's pretty amazing. Im sure most indicators can be tweaked to show similar results. Afterall, they are all using the same data, ie price, volume, time etc. This is probably where newbies get sucked into buying fancy looking indicators from Gurus as the newbie thinks that this new fancy line or colour or dot will make him tons of money and save the world! I know that I did this in the beginning!

Is it possible to plot the Stepma, on a similar chart with the two indicators above so we can see how similar they all are?

Thanks,
Alan

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  #12 (permalink)
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I don't get why people are fascinated with the indicator debate. Elliot says that this Alas Avg thing is not complex like Stepma. What does that mean or more important why does the complexity matter? It's almost like it is a prerequisite that only complex indicators are worth having.

Everyone needs to remember that indicators are all based on price in one way or another. Some of you guys have posted charts, Todd I think is the name that have two or more indicators that look nearly identical as such the zero line crossing is almost identical. CCI, ECO, these things use different methods but many times have similar results. Haven't you ever noticed all these fancy indicators look the same it's just a matter of how much lag there is built in to the indicator to affect smoothness vs an exact mimic of price.

Not to stray off topic but I just don't get the fascination with why one product is put down and other alternatives of the same thing are so welcome. In the end arent they all the same?

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  #13 (permalink)
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Caprica,
One of the nice things about this forum is, one of the reasons it was put together is to have people put ideas together and maybe try to think out of the box if you will. Maybe your comfortable with what is on your chat and your set with your trading method. Others are still learning or trying to find a method they are confident will work. I think what we see here is not over complicating anything, just adding to or eventually subtracting from ideas that people put together here.

Vic

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  #14 (permalink)
Vancouver, BC
 
 
Posts: 9 since Jun 2009
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caprica View Post
I don't get why people are fascinated with the indicator debate. Elliot says that this Alas Avg thing is not complex like Stepma. What does that mean or more important why does the complexity matter? It's almost like it is a prerequisite that only complex indicators are worth having.

Everyone needs to remember that indicators are all based on price in one way or another. Some of you guys have posted charts, Todd I think is the name that have two or more indicators that look nearly identical as such the zero line crossing is almost identical. CCI, ECO, these things use different methods but many times have similar results. Haven't you ever noticed all these fancy indicators look the same it's just a matter of how much lag there is built in to the indicator to affect smoothness vs an exact mimic of price.

Not to stray off topic but I just don't get the fascination with why one product is put down and other alternatives of the same thing are so welcome. In the end arent they all the same?

You're right, complexity doesn't necessarily matter for trading, but in a forum called "programmer's paradise", it relevant. If someone wishes to try and code an open-source alternative, they might appreciate a less complex reference point than StepMA.
-----

Some people believe that using some special proprietary indicator will make them a better trader and the way I see it, if it helps their trading psychology (more important than any indicator), then it does.

On the other hand, others like to fully understand the concept they are trading and the code behind it, that is their psychological 'edge'.

Whatever work's for you.

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  #15 (permalink)
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KJAVED View Post
EOT Pro allas based on average of swings high and low. Stps are contoled in hey control the stps in allas.
Step Ma under discussion is basically Ma average with stp controled feature. This means one feature step cntrol available to us. Then how we get average of swing high and low. There is one old version of DMA, that have one indicator inside Dynamic SR. This indicator works on high and low. and draw a new line. When I use it to make it double then I got some images that I attach here for information and further discussion.
So If we make such indicator that have the following featurs, may be it close Allas
1- Contol the step size
2- Add coloring feature
3- Add swing high low average
4- Add level of sensitivity control
5- Add coloring Feature.

All these features are available in Two Indicators. a) Step Ma B) Dynamic SR
Dynamic SR is not available with New Version of DMA.

Step Ma Give better results when we apply it with setting of Riverend. This is just an idea, If some thing wrong with it forgive me, because I am not programmer.

KVAVED, what do you mean by "Riverend settings"

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  #16 (permalink)
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Elliott Wave View Post
While I won't deny Allas average is quite useful, I certainly don't think its anything special. For those thinking its something complex like StepMA or NonLagMA, take a look at this screenshot I just made and tell me if you don't think it could be something simpler.

It took me a couple of minutes. Given more time I'm sure I could get the plots to match closer.

EOT's 'proprietary' AllasAvg Vs. a displaced Donchian channel. Which is better? (I'm sure similar results could be achieved with StepMA or NonLagMA, the secret in my opinion is the displacement)

Often I have found myself impressed with some 'special' indicator simply because its methodology is hidden, costs money and has a fancy website and some marketing behind it when the reality is, freely available indicators or even NT's built in ones can achieve almost the same results...


Elliott Wave, what is your displacement setting on the DonchianChannel(70)?

Thanks, Saroj

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  #17 (permalink)
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Saroj,

This is pretty much the history on how we got this stepMa to work.


You have to have color size set to 2
KV is now .3
length is now 10
MA type I'm using WMA
Step size was 5 now I'm using 4
TenthPip was 10 I'm now using 8

Vic

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  #18 (permalink)
Vancouver, BC
 
 
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Saroj View Post
Elliott Wave, what is your displacement setting on the DonchianChannel(70)?

Thanks, Saroj

I believe I used 10 in the screenshot. There are likely better settings, I gave it very little thought.

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  #19 (permalink)
Dallas TX/USA
 
 
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Elliott Wave View Post
While I won't deny Allas average is quite useful, I certainly don't think its anything special. For those thinking its something complex like StepMA or NonLagMA, take a look at this screenshot I just made and tell me if you don't think it could be something simpler.

dude, you don't have to guess about the complexity. In this case, you don't even have to guess about the algorithm. We tell everyone that asks, for years now, that it is an average of swing highs and swing lows.

Not sure why everyone has so much fun trying to imply that I'm trying to pull the wool over everyone's eyes pretending things are "special" or "hidden." We released it because we found it useful for our own trading. End of story.

Again, I try to visit these forums, and again I must leave, pissed off. *sigh*

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  #20 (permalink)
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we just all need to learn to take things with a grain of salt including me lol and im sorry for getting upset before at you guys i think ill just make the peace now and say i probally had alot to do with instagating this so be upset with me and lets move on...sharky

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