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Ultimate Tick Bars
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Ultimate Tick Bars

  #21 (permalink)
Market Wizard
Las Vegas, NV
 
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MWinfrey View Post
funny...wonder if i can make money like this. you know if you all contributed $10 to me I'd be very glad to post pictures of everything Betsy and I did with the money. You all would be able to live through us. Wow what an idea!

Hmm...guess I should start my own thread instead of hijacking your's. Sorry.

@MWinfrey,

Funny. You can name it Reality Forum with $50 membership fee. There are enough of those that watch reality shows to support your expenses beyond your dreams. Hurry, Copywrite fast

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  #22 (permalink)
Elite Member
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Heiken Ashi / PLA/ UTB

So here are the results after a small coding exercise. The standard Heiken Ashi formula is in play for rising / falling "average" bars however I have coded the PLA into the mix as follows:

If HA goes negative, but PLA is still positive we get light green bars, instead of red.
If HA goes positive but PLA is still negative we get salmon bars, instead of green.

The result shows weakness in a trend and then a clear reversal signal confirmed by the PLA instead of a stoplight red green for every minor pullback etc.

Obviously the subjectivity comes into play based on an opinion of where the trend is going. Light green bars at a presumed Top can signal a reversal to the down side, whereas light green bars in the middle of a trend simply signify some responsive selling, profit taking, resistance, etc.

Thanks @Fat Tails for the Heiken Ashi V4... It's taken me a long time to figure out how to modify your bars but I think I now understand what you're doing in there. Very cool Plot Override. I had to add two new plots to make this happen. One for the OnBarUpdate section to store the PLA values and a second one to be consumed inside the Plot Override populated from the first plot with the (idx) value inside the loop. Rising / Falling keywords didn't work for me inside the Plot Override loop so I just used > previous bar < previous bar for my conditions and it seems to work

Wolfie

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Ultimate Tick Bars-heiken-ashi-pla-utb.jpg  
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  #23 (permalink)
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Still Pleased?



WolfieWolf View Post
Right, so I've been playing with the UTB's for a couple of days now. I spent most of the day yesterday playing with chart resolutions and finally found that the 233 Tick UTB's were not responsive enough for me. I scaled back to 175 and I have to say these bars are amazing. Here's why.

Not only do the bars themselves show the trend, but the way they organize the data makes my indicators smoother. Let's start with the bars. During periods of consolidation, in particular the overnight session, which I regularly trade, there are fewer elongated bars. As the market begins to trend the bar frequency increases and there are a lot more of them. See the attached screen shot.

As for smoothing indicators, my main indicator is the PLA Dynamical which, on it's own, does an excellent job of filtering the trend. With the UTB's, however, it does an incredible job compared to Tick Bars, Time based bars or Renko Bars (which I have come to despise).

First, take a look at the first test of my VP High. My Heiken Ashi turned red but the PLA stayed positive for two red bars before HA went positive again, keeping me in the trade. This is exactly what I want. I don't mind holding the position so long as I have a reason to. Immediately after we took out the VP High with a series of very small UTBs we rejected 99.17. As we came off there was a green HA but the PLA stayed negative. The same scenario plays out late in the day when we break out of the range and make new highs. HA goes red, PLA stays positive.

I've started modifying the HeikenAshi V4 so that the bars will stay positive, with a different shade of green, if they turn negative but PLA doesn't confirm. So instead of red bars I'll get a light green bar, showing me that there's weakness but not a reversal. Obviously I'll do a similar thing for the other side.

I've recently had people ask me if the price I paid for my indicators is "worth it" and I've read comments that "these bars are expensive". What I have to say to that is this. If anyone thinks spending $500 for a bar type this sophisticated isn't worth it, you might want to rethink your approach. I made significantly more than the price of the bars on _one trade_ this afternoon _because_ I was using them. Any purchase is like any trade, the cost of evaluating the bars is $50.00. I don't know about you but my stops, which I take regularly, are usually a bit bigger than that.

Being a properly capitalized trader means more than having enough margin to cover your intraday positions. You need to have enough cash to live off while you learn how to trade, lose money, and purchase quality technology and education. Sure there's a lot of free stuff out there, thanks to Mike and the awesome contributors on this forum, but there are also a lot of really smart people writing some really cool technology who, for whatever reason, want to get paid for their efforts. Some people say, "If they make money trading why do they have to sell software?" Who knows and who cares; it's what they want to do. I'm sure Mike takes money out of the market regularly and yet he spends a substantial amount of time working hard to make futures.io (formerly BMT) the incredible resource that it is. I've now spent a couple of days exchanging emails with Rob Mitchell, the creator of the UTBs and I can assure you all that, from my perspective, and you can base your value of this on your opinion of me, he knows what he's talking about.

Sure, I've purchased some crap along the way, some of it I was able to give back for a full or partial refund, but these bars, and PLA Dynamical are an absolutely amazing combination. Thanks Rob and Roger.


So now that you've had another week or so to work with the ultimate tick bars, are you still pleased with your purchase?

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  #24 (permalink)
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Comparison with other tick bars

Has anyone compared the Ultimate Tick Bars discussed here with RJay's TimeRangeAdaptive bars or PureLogik's LogikDynamicRange bars?

Here are the links to the two alternative bar types.

Pure Logik Trading

TimeRangeAdaptive | NinjaTrader Bar Chart By RJay

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  #25 (permalink)
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topstep View Post
So now that you've had another week or so to work with the ultimate tick bars, are you still pleased with your purchase?

Two months since WolfieWolf's positive report now. The $500 should have been repaid many many times over by now.
@WolfieWolf: Any update on your UTB experience?

Richard
Hong Kong
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  #26 (permalink)
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Richard,

I'm happy to update this thread. I am still enjoying the UTB's and using them as my primary bar type on a daily basis. I've now had the chance to compare them, over and over again, with other bar types including Renko and Volume which I keep coming back to for deeper analysis and I still can't find anything that does a better job. If I say that they've paid for themselves over and over again I'd be taking away from all the other factors that go into being a consistently profitable trader, we all know it takes more than a magic bar type, but I wouldn't be telling the whole story either if I didn't say that this choice in bar type has improved my entries and exits substantially. Additionally, and I think I said this initially, they smooth my indicators. I've been playing around lately with the D9 Particle Oscillator from the Elite section comparing it to the PLA and I'm finding this to be a winning combination.

Kind Regards

Wolfie

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  #27 (permalink)
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Topstep, sorry for my slow response. I have compared the UTB's with both of the bar types you mentioned. I have, in fact, purchased the Logik Dynamic Range and there is no comparison. I completed my trial of the RJay time adaptive range bars and didn't go ahead with a purchase and I do not use the Logik Dynamic bars at all.

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  #28 (permalink)
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WolfieWolf View Post
Topstep, sorry for my slow response. I have compared the UTB's with both of the bar types you mentioned. I have, in fact, purchased the Logik Dynamic Range and there is no comparison. I completed my trial of the RJay time adaptive range bars and didn't go ahead with a purchase and I do not use the Logik Dynamic bars at all.

Hi WolfieWolf,

Can you post a 800 ultimate tick chart from cl? Just to compare my chart.
(a naked chart without heikinasi)

Thanks,
JJ

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  #29 (permalink)
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No need to post a picture.

I have already figured out how this bar works.
I have filled out the activation form : Activate & Register Your UTBs » DAY TRADING DIVERGENCE.com
without paying any thing. Bars were activated yesterday and could test this bar. Today it is not working anymore, received an email about sending paypall payment receipt and of course I do not have that.

The bar is formed with a bunch of indicators, the ADX, JurikDMX and JurikJMA. You could see on the chart that the bars form a parabolic line. I think you can get the same by implementing the heikenasi.
$500 for this bar? For me not!

If you want to try it just fill in the activation form but be quick with testing this bar they will quickly mail you about the payment.

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  #30 (permalink)
The Wolf of Wall Street
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Jseng how did you come to that conclusion?

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