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Ludwig Levels recommended – Anyone have a review?
Trading: 6C (Low Margin,) 6E, CL, GC, ES and Maybe DX for smaller tick value
Posts: 1,394 since May 2011
Thanks Given: 1,719
Thanks Received: 1,020
Traders News Network, Ludwig Levels™ are algorithmically generated Key Areas for entering trades, and more importantly Taking Profits. The market action determines what the Key Areas will be and more importantly when the Key Areas will shift into new Levels.
Ludwig Levels™ operate 24 hours a day resetting levels as needed for a large number of markets.
A sophisticated trader recommended them recently and a trial is available. May I request any feed back on the value of these levels, especially for currencies and crude. Any hints on use also appreciated.
Ludwig Levels offer a free 3-day trail which I took advance of this week. Later on, I was informed by Pamela Ludwig that the trial offer was actually good for the entire week, so that was good news! I currently use Prediction Points price levels to help me with market bias and overall narrative, however, I figured I'd give the Ludwig Levels a 'look see' thinking that it might serve as backup levels, maybe supporting cast type levels, or maybe even work in conjunction with Prediction Points.
The Ludwig Levels are dynamic levels which means levels are plotted automatically on your charts (I am on NT8) and new levels can plot at any time during the trading session. It provides levels for several markets such as ES, CL, NQ, GC, RTY, and YM. I was only interested in CL & YM, and really only concentrated on CL so as not to confuse me and allow me to focus on just one instrument to see how it might fit into my current trading methodology.
From the limited time of the trial offer, I found the levels very reactive to the CL market and I think it might actually provide me with additional context without creating too much dissonance. In any case, I have not made a definitive decision and/or opinion on the levels overall except to say that I will probably subscribe for a month or two and see how well it performs and integrates with my current trading methodology.
I have provided some screen shots here on a few sessions and marked up the charts on how I might possibly trade these levels.
Hope this helps a little bit but I may provide more insight after I get more experience with these levels.
These levels have been around for a long time. I remember having done a trial many yeasr ago and was never able to find an edge. They are mathematical levels and as such do not take liquidity into consideration so they just give you a probable projection where price might go.
I did an indicator which operates in a different way. It does not predict anything but just use a fixed interval which provides just as much accurancy as anything else.
Here are a few pictures of recent price action on CL:
I did share this indicator in one of my thread.
Now, add my latest indicator into the equation and use it in conjonction with your brain power and common sense to identify S&R and press the Forecast button to see the probable future where price might reverse ;-)
Still this indicator is in the download section which you can get with no monthly subscription.
I want to test something. It's simple. Place some random lines on your chart prior to the day opening, and see if at the end of the day you feel like those lines were important (try to imagine they weren't random, but some expensive or complicated …
Anyone who hasn't read this thread to the end and done or thought about the little experiments probably would benefit from it.
I don't know if Ludwig levels are any better than any others, and I am not saying they are any worse either (frankly, I don't know a thing about them. )
Probably some levels do work. But they all tend to look great in hindsight, including ones that have no value at all. That's all that thread is saying, but it has opened some eyes. I suggest everyone read it and think on it. It's old enough now that probably a lot of FIO members haven't seen it.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I created this indicator 'tiyfDrawGrid' to explore a few ideas related to grid trading. You can create grids of any size between 1 to 100 pts. Here are the parameters:
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