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Recently I had the opportunity to review both websites for the DecisionBar and the Trendline
Trader software by Les Schwartz.
An attempt to look for reviews left me pretty undecided still as there were both pros and cons
to it. Then again, one can argue that there's both positive and negative to any system. If a system
was 100% profitable, it would NEVER be sold in the first instance. Lol...
Anyway, I'm looking to sign up for either one but I just can't fathom which is better. Would any of you be kind enough to help me here?
As of now, I trade the Euro FX futures 6E and my trading set-up is as follows:
1) 4 Better Renko charts (for trade entry)
2) 4 Better Renko charts with Bollinger Band and RSI for trend determination and possible reversal
3) 8 Better Renko charts for longer term direction
4) 250 Wicked Linebreak, 3 Period charts
The reason I'm looking at the Decision Bar and Trendline Trader are to put them on either tick or minute charts
as an added confirmation to the signals generated on my main 4 Better Renko charts.
As for Decision Bar and Trendline Trader, which do they work better on? 1, 5 and 15 min charts or 610, 377 and 233 tick charts?
All help is much appreciated
Can you help answer these questions from other members on NexusFi?
Broker: Tradestation/Tradestation, NinjaTrader, FXCM and Tallinex
Trading: ES, CL, EUR/USD, TF
Posts: 173 since Aug 2009
Thanks Given: 105
Thanks Received: 61
Hi WeirdTrader
I have used both Trendline Trader and Desicion Bar. I use it for crude oil 1 min. I prefer Decision Bar. The only problem I see is that the algorithm is not based on swing lows and highs. Instead, it is based on closed of bar and open of bar. so sometimes you might get chopped out of the breakouts and breakdowns.
you have go just test to see which timeframe is right for you. I remember asking support the same question and then learned for myself that they really do not know the answer. For me, 1min on CL and 8Range on CL works pretty well.
When I take the trade, it is based purely on price and not on another indicator. their strategy is usually going to get in into the trade late. to save money, you can just use the indicator called "swing" already in ninja. it uses swing high and low and you can play the breakout it it goes 1 tick or 2 ticks above or below, etc..
in a trending market... trend line trader, in a sideways market decision bar. you are only trending 25% of the time. so decision bar. i have used it 10 years ago
