"E" success

Thanks for the comments. I have really liked all the improvements they have made over the months. Very neat and clean. Will probably go ahead and make the switch by the time I go to Survivor 2 in June.

NCT:

Hopefully you know that you can link all charts and timeframes with TradeStation; the crosshairs clicked on a Daily candle several weeks back will pull all your other charts accordingly. (Using the "Pointer Tracking" "Global" feature under Drawing tab.)

Chunk

Thanks Chunk! I started the following discussion to keep "E" Success on target. AlchemCharts

mtut Wrote:
-------------------------------------------------------
> yes 1 plot required try this
>
> input short_average = 5;
> input medium_average = 10;
> input long_average = 20;
> input average_type = {default "SMA", "EMA"};
>
> def MA1;
> def MA2;
> def MA3;
> switch (average_type) {
> case "SMA":
> MA1 = Average(close, short_average);
> MA2 = Average(close, medium_average);
> MA3 = Average(close, long_average);
> case "EMA":
> MA1 = ExpAverage(close, short_average);
> MA2 = ExpAverage(close, medium_average);
> MA3 = ExpAverage(close, long_average);
> }
>
>
> plot Eup = if MA1 > MA2 && MA2 > MA3 then 1 else
> 0;
> def Edn = if MA1 < MA2 && MA2 < MA3 then 1 else
> 0;
>
>
> EUp.AssignvalueColor(IF Eup THEN COLOR.LIGHT_green
> else if Edn then color.PINK ELSE Color.gray);
>
> AssignbackgroundColor(IF Eup THEN
> COLOR.LIGHT_green else if Edn then color.PINK ELSE
> Color.gray);

mtut,
After creating a custom column, how do it get those columns to reflect what is on the various chart timeframes? Do I duplicate the process for each individual column?

rebwayne,

Yes, create 5 separate columns, using the same code, and change the aggregation period of each to match the 5 charts. 30, 20, 10, 5, 3, Can not create one for 8 since TOS does not support custom time frames in the columns.

I call mine E30 E20 E10 E5 AND E3





Edited 1 time(s). Last edit at 05/23/2015 01:26PM by mtut.

mtut Wrote:
-------------------------------------------------------
> rebwayne,
>
"change the aggregation period of each to
> match the 5 charts. 30, 20, 10, 5, 3, >
> [i.imgur.com]


mtut,
Where do I change the aggregation period? Sorry, still a novice at this.

rebwayne

Click DOT then CUSTOMIZE



then OPEN the script by clicking the folder icon





Click this box and choose the time period of choice. Then click ok. Repeat for each column. The order that they are listed is how they will appear on the chart from left to right

mtut,
I got it thanks.

Exited AMZN trade from Friday 5/22



11:15 Bought puts on NFLX



sold NFLX at 11:25







Edited 2 time(s). Last edit at 05/26/2015 01:25PM by mtut.

nice job!

I'm having a bit of an issue with a few things on my E charts- wondering if you can help me:

1) do you have the code for the ADX study for TOS?
2) when specifically do you look for the E cross over? is it all the time and when all of the signals show 'red' or 'green' that is when you get in?

Thanks, NMR

ADX code


declare lower;

input length = 14;
input averageType = AverageType.WILDERS;

plot ADX = DMI(length, averageType).ADX;
ADX.setDefaultColor(COLOR.BLACK);
ADX.SetLineWeight(2);

PLOT STRONGLINE = 20;
STRONGLINE.setDefaultColor(COLOR.WHITE);
STRONGLINE.SetLineWeight(2);


I watch from the open until around 10:30 or 11:00 and again around 13:00 - 14:30. Or as my job permits. I enter when all six charts have an E AND moneyflow and ADX are angled in same direction as the trade AND ADX is greater than 20 (strong ADX )

mtut,
Good work. Thanks for providing valuable, practical, and tested information to the forum. Your process is very solid and is very similar to my small chart trading process. I traded without the "E", but found it to be very useful when Darcy introduced it. An extra bit of security when placing a trade is, when there is a break and close after the previous day's high or low point is broken....Pretty good entry point. Momentum almost always runs behind that break. Also, that window of time from 9:45 and 10:15 is a strong time for a momentum run. Good luck and just know, a ton of money can be made off small charts. Just gotta have the time, a good process, and the temperament.

Thanks to all for your continued input and assistance to others.

Rookie30

thank you- its great that you shared this with the community here... and I appreciate the details of what you are looking for and when also

Rookie30,

Thanks for the words! Since 30 min is my largest chart, do you think a break of the previous day's hi/lo on the 30 would be as good of momentum play as a break on the daily?

NMR,

Props out to Darcy for sharing the E concept and Robert who designed much of the chart setup.

Yes! I agree thank you to all who have shared their information.

Another question on the MF indicator, which one do you use as there are several in TOS and there are various settings.

Thanks everyone.

mtut,

I am not an intraday trader but I would suggest sticking with break of previous day high or low. A lot of intraday trading techniques that are taught look at breaks of these levels in addition to opening price signal, net price signal, and last close in relation to 8 period MA. The goal is to go with the momentum and not be the first one in line for a dance when no one else shows up. I am also not big on watching the 8 MA as GW's CC pretty much gives you that. IF you have a CC then 90% to 95% of the time you have a close crossing the 8 MA.

All,

mtut has shown strong evidence that E only trades do work as a pure momentum play. That said I believe Darcy and her S/O occasionally traded E only trades but the description of her bread and butter type trade so to speak included a lot of GW components. I looked at a lot of her trades when she posted and most could be considered a GW type trade without the E. Several were a continuation in the direction on the Daily/233 or when Daily/233 pulled back to obvious S/R where a bounce was expected. She was also looking for FP/HRFP on a few different charts in conjunction with the E. She also said she wanted to see room left to go (not butted up against strong S/R on Daily/233 that could stall the trade). Just paraphrasing what I recall. Once you all nail the pure momentum play then the next step might be incorporating and layering in GW thought process so that you can take the expected 0.50 per trade you are shooting for now up to the dollars Darcy was capturing around the time she quit posting. Just a thought.

NCTrader,

Thank you for your well timed comments. As this thread grows, I may need to reiterate that my trading is based on MY interpretation of Darcy's E, not an exact replication of how she trades it. I don't reference any chart larger than the 30 nor do I look at the 50 and 200 ma. I trade from my laptop and adding the 50 and 200 crunches my charts. I have incorporated the FP/HRFP on the 30 and 20 but honestly have not found much value from them when they have formed. I am, however, intrigued with the opening and net price. I will play around with that as well as the break of the previous days high/lo. I am interested in 'Up a buck' and appreciate the suggestions.

I must say that regardless of what this is or is not, I am very happy with the results so far and may not want to fix something that is not broken. Also, while sharing my trades, I try to post the purchase and sale as soon as I make it to validate that I am really making these trades and not presenting after the fact information. The times are stamped on the printout as well as inside the thread.

The previous comments from Rookie30 and NCTrader epitomize the beauty of this forum. Traders helping Traders. Each of us can take what is presented here, twist and turn it, and make it our own.

(As I read over what I wrote, I realize that I do not articulate well. I hope that my words do not offend or come across as angry as I am grateful for the input and appreciate engaging conversation on one of my most favorite subjects)


Trade Well!!

MTUT,
I only look for 10-20% gains on my trades, so waiting for the break on prev day hi/lo is a big indicator for me. If all lines are up, Dow is moving strong in my direction, mf is going in my direction, above/below 8 MA, trade has formed in my small critical window, and a couple of other small things, I want that break, but I will jump without it. Again, I only plan to gain 10-20%. I also place one trade during a market day. If i miss, i am done for the day. If i have success, i am done for the day. I do not care what happens after i am out for the day. I just want my 10%. A little math.... if my position size is 10k, and I gain 10-20-3 days a week, I am a pretty happy with that. Those who think success has to come in huge percentages, that is simply not true. I am not very good outside of strict momentum trading. I tend to lose confidence if i jump in on momentum, but get greedy and stay too long, and i fall from 25% to 15%. I have still met my goal, but that emotional blow is not good for me. I need to ride momentum and get out. It is that simple. Honestly, I am pretty bad with other styles-well AWFUL! Those who are stuck and want to trade small charts, listen to these last few posts and others from the past. A lot of good stuff.

Anytime... I have read and studied a lot but my time never allowed me to really get into intraday trading and have settled on the big charts. The other item that you might add to your test list to see if it helps is the opening 15 minute range. Some intraday traders allow the market to do it's thing the first 15 minutes and simply watch. Once price breaks the 15 minute high or low then they trade only in that direction. Never tested it myself but have read it many times over the years. It also keeps you out of amateur hour which might not be good for you as I think you have popped a few at the open that worked out well. Just something else to consider.

NCTrader Wrote:
-------------------------------------------------------

> I am also not big on watching the 8 MA as GW's CC
> pretty much gives you that. IF you have a CC then
> 90% to 95% of the time you have a close crossing
> the 8 MA.

Just to make sure I understand what "CC" is, does the first C refer to a certain religious holiday?

Yes
I tend to totally agree with the fact that if you have the CC, almost 100%of the time candles closes are on the trading side of the 8 MA.

You can have the 50 and 200ma on your charts without crushing them. Add the indicators. Then right click on the chart and go to "Chart Scale". Under chart scale you will see a box labeled "Fit Studies".
If you remove the check from the box (by clicking on it) it will restore your charts, and you still have the benefit of having the 50ma and the 200ma without it crushing your charts down.

Thanks RR Tried it and I liked it (old commercial from the 70's)

Got AMZN just now for .50 Entered around 13:25 Did not think I was going to get a signal when AMZN, NFLX and AAPL all fired around the same time.

Not sure if I am going to keep posting my trades here. May just put them into a goggle page and post a link.
A better posting here may be the charts at the beginning of the trade

Entered @ 13:21 exit @14:05





Edited 1 time(s). Last edit at 05/28/2015 06:51AM by mtut.

NMR,

Here is MF code I use

declare lower;
input price = close;

plot MF = TotalSum(if price < price[1] then -price * volume else if price > price[1] then price * volume else 0);
MF.SetDefaultColor(COLOR.BLACK);
MF.SetLineWeight(2);


plot ZeroLine = 0;
ZeroLine.SetDefaultColor(COLOR.WHITE);
ZEROLINE.SetLineWeight(2);

Dan, sorry for the delay. I believe Rookie might have answered the question but yes, the first "C" can refer to a religious holiday. Early in my trading career I could not see QCharts during the day. Before WebEx, GoToMyPC, and phone apps to connect to my PC were popular. I did all my research at nights on QCharts but had to use another online charting software for intraday entries. I could only match 2 of the 4 indicators. The third was a very close approximation but the package would not allow me to create CC. After a lot of reading and testing other things I discovered that a close crossing 8MA matched up pretty well to CC so that is what I used for the first couple of years. I agree with Rookie that the correlation between CC and 8MA is closer to 100% but I am always a bit conservative with my estimates.

NCT

No trades yesterday while traveling. Got AAPL this a.m. for a small amount.

Notice STRONG TREND missing from 30 and 20 charts so I entered with caution. The Chart is how it looked when I opened my position.



Chart when I exited trade









t

Got in CMG this afternoon





Chart on Entry




chart at exit





Edited 3 time(s). Last edit at 05/29/2015 02:00PM by mtut.

Play puts on NFLX at open





Around noon i entered LNKD AND BIDU calls

Chart at time of signal. Note I have added a "TREND" element to each chart








Sold out of everything by 13:05







Edited 2 time(s). Last edit at 06/01/2015 12:07PM by mtut.

thank you for sharing- do you use the ADX at all of just MF?
in your CMG example above- are the 3 MA's the 5, 10 & 20? what are the others?

Are you using the E crossover on the 6 charts to give you a signal before you get in? (the six red or green boxes)

NMR,

Looking at my screenshots, all six charts have the 5, 10, 20 (pink, blue, and green) 50 and 200 (black) moving averages. Along the top of each chart is displayed the 'E' signal, money flow (MF up or MF down), Trend (8ma in relation to 21ma) and the ADX (in blue) will appear if ADX is greater than 20. The chart under the candle chart is Money Flow. ADX is under that but is not displayed on my laptop screen due to display limitations

For my entry, look at my last post where I show my chart at entry. Simplified, I want all the first three items along the top to be the same color and the STRONG ADX to be displayed on ALL charts