Another BCT

See if you have Parabolic SAR. I don't use either. Way too much info and clutter for me which keeps me from trading...but that is me. We all develop our own style. See if they help you.

Thanks for the reply BCT.

I knew Autowave was the other indicator you were referring to. Unfortunately "autowave" is not part of TOS. As others have quickly pointed out it’s really just a form of Elliotts Wave. There is an Elliott Oscillator within TOS, but I can’t say for sure it works the same.
I'm not sure anyone has figured out how to duplicate Qcharts “autowave” in TOS yet. If they have they aren't telling :-) Lol.

Thanks again, and keep posting your big chart trades. I enjoy playing back trades in TOS and watching them unfold using the "On Demand" feature in TOS.

Actually, the QCharts AutoWave indicator (developed by Mike Condra when QCharts belonged to quote.com and trademarked by QCharts according to the documentation I have on it) has nothing to do with Elliott waves. The subtitle of the AutoWave documentation is "Fibonacci Pattern Finder." It uses Fibonacci calculations to draw various lines on a QCharts workspace. Because of RTP non-disclosure issues, I don't feel comfortable providing any more detail. In my experience the AutoWave indicator always looks better in retrospect than it does at the "hard right edge" of the chart. Don't forget that many people had retirement choice well before the AutoWave indicator was available. Remember, "it's only a piece of the puzzle," and not a major one at that, IMHO.

To quote directly from the QCharts AutoWave documentation:
"AutoWave™ is a new family of tools from Quote.com that finds Fibonacci price patterns, and suggests patterns that may emerge in the future.

AutoWave™ is open and does nothing in secret. It applies, automatically, a virtual Fibonacci Projection tool in as many places as possible on the chart, and reports patterns that match your definition of success."

I'm still learning TradeStation so I have not yet had a chance to experiment with the ZigZag studies available that seem to do much the same thing as AutoWave. I am also a TOS user, but I have not looked for any "zigzag" or Fibonacci pattern finder studies available. In addition to the studies available on TOS itself there are also third parties like www.thinkscripter.com that have additional studies available for free and for sale. One of these third parties might have such an indicator.

agree 100%. It is "nice to know" and not need to know.

BCT

I'm not familiar with TOS or tradestation and haven't been to RTP yet... but im guessing, if they offer something called zigzag and you set it to Fibonacci periods... 13, 21, 34, etc... you'll probably see the same thing... as Dan said its a minor support indicator but you will probably be able to judge the strength of the indication by the zigzag line that shows up... 13 being a weak indication of a wave end vs something higher

Dan Wrote:
-------------------------------------------------------
> Actually, the QCharts AutoWave indicator
> (developed by Mike Condra when QCharts belonged to
> quote.com and trademarked by QCharts according to
> the documentation I have on it) has nothing to do
> with Elliott waves. The subtitle of the AutoWave
> documentation is "Fibonacci Pattern Finder." It
> uses Fibonacci calculations to draw various lines
> on a QCharts workspace. Because of RTP
> non-disclosure issues, I don't feel comfortable
> providing any more detail. In my experience the
> AutoWave indicator always looks better in
> retrospect than it does at the "hard right edge"
> of the chart. Don't forget that many people had
> retirement choice well before the AutoWave
> indicator was available. Remember, "it's only a
> piece of the puzzle," and not a major one at that,
> IMHO.
>
> To quote directly from the QCharts AutoWave
> documentation:
> "AutoWave™ is a new family of tools from
> Quote.com that finds Fibonacci price patterns, and
> suggests patterns that may emerge in the future.
>
> AutoWave™ is open and does nothing in secret. It
> applies, automatically, a virtual Fibonacci
> Projection tool in as many places as possible on
> the chart, and reports patterns that match your
> definition of success."
>
> I'm still learning TradeStation so I have not yet
> had a chance to experiment with the ZigZag studies
> available that seem to do much the same thing as
> AutoWave. I am also a TOS user, but I have not
> looked for any "zigzag" or Fibonacci pattern
> finder studies available. In addition to the
> studies available on TOS itself there are also
> third parties like www.thinkscripter.com that have
> additional studies available for free and for
> sale. One of these third parties might have such
> an indicator.


Thank you Dan. That was very informative. Agreed! It is a "nice to know" sort of thing.

Autowave was by far one of the strongest indicators I have ever encountered, but that function alone costs nearly $40 extra a month with Qcharts. Autowave simply amazes me. It is was beautiful thing to see that line draw.

MTUT,

would love to see Autowave study for TOS.

thanks for offering to share

TCB,

have you tried the zigzag study? i'm loading on TOS to see how it works this week.

thanks for the tip.

I do not have the autowave but could possible convert it to tos if I new what it does. I believe that you will find that the zig zag indicator looks back x number of periods so any change is always x number of periods lagging. In other words, it will go back x number of periods and physically change the zigs and zags based on current period data. If you watch it on a daily chart for any period of time, you may see directional change today and a few days later that same candle will show a straight line. Understand, there are no forward looking or forecasting applications available that can do more than GUESS at what the market MIGHT do.



Edited 1 time(s). Last edit at 10/06/2013 03:49PM by mtut.

Mtut

No guessing here. Autowave + indicators = trade. Indicators with no autowave, no trade. Also , exit criteria for me is when an autowave forms.

BCT



Edited 1 time(s). Last edit at 10/06/2013 05:55PM by BigChartTrader.

Check the following URL (http://forum.esignal.com/printthread.php?t=35706&pp=40) for a discussion of QCharts' autowave indicator and a link to the autowave documentation written by the person who coded it for QCharts. It's not magic, just a Fibonacci pattern finder.

I use ZigZag with TradeStation as a comparable indicator.

Sorry, my comments on zigzag were for TOS platform only.

Traded FOSL yesterday off of the 233,Daily. It had a HRFP on them and also spotted a bullish divergence on the 233 and Daily where stock made it higher but the StockRSI did not make the same high. My entry was around 12:30 and later than I would have liked but although the 233 was decision I waited on the candle on the 55 to close below the 200ma. Exited today when GTC was hit for a small brick.

I like to trade FOSL. This is a stock I have traded since learning how to trade. I know how and when it sets up to move up or down. As stated in an early post, this is a really good seasonal stock to trade. If you take a look at this stock and watch how it performs to the 8MA off the 34. Normally, when you get a solid close above the 8MA, you can ride until it closes below-or you identify YOUR reversal signal. When it is below, you have about the same. Watch your BBs. If they are tight, no trade. Take a look at how the stock responds to the 8MA when the BBs are not tight!!!! It is a stock with a bit lower volume, so the really "big money" does not manipulate this stock as much as some of the other "hot stocks". I can enter this stock and not be AS concerned about getting flushed out because of sudden spikes that typically occur. Again, my rationale is, the big money is not manipulating it as much, so it tends to be a stock that trades well for the new folks who do not know much about trading-and need to build confidence while practicing or need to make a couple of small trades. This is the stock I started trading because Gary talked about trading a stock that you like-and that moves. I only wear Fossil watches, so I started studying the stock from the beginning.

As some of the others state, I am not trying to persuade anyone to trade this stock. I am just sharing some of my thoughts.

Looks like we will have a strong open! Trade well!

Anyone have a clue how to set up autowave in StrategyDesk?

Quote
RaleighTrader
Anyone have a clue how to set up autowave in StrategyDesk?

As far as I know, it is exclusive to QCharts.