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Williams%R, SAR X-over 15 minute candles

  • #3,521
  • Jan 3, 2023 4:33pm Jan 3, 2023 4:33pm
Quoting iwan73
You mean 5 ticks? In that case (ES) it would be 1,25 points.
Needless to say, sometimes that chart gets ripping in a hurry, up and down.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,522
  • Jan 3, 2023 6:05pm Jan 3, 2023 6:05pm
Vidvad...just confirming...is your 4-9-18 ema all on the "close" ?
  • #3,523
  • Jan 3, 2023 6:18pm Jan 3, 2023 6:18pm
Quoting Ed777
Vidvad...just confirming...is your 4-9-18 ema all on the "close" ?
Yes, for the 4-9-18 ema I use ema's of the close, which is very likely the standard setting on almost all charting platforms.

For the rocky template, I use the 9 ema of the highs and the 9 ema of the lows. The trigger ema is the 4 ema of the close.

I have also used the 18 ema of the high and 18 ema of the close and I have live traded both sets.

After reviewing my live trades, I prefer the 9 ema of high and low for the rocky template.

I belive rocky uses 8 ema. I doubt there is any difference in the long-term performance of the signals using the 9 vs the 8.

Tomorrow is FOMC meeting minutes at 2PM. That is definitely a red news event. I am usually not trading that late in the day. However, I do sometimes trade the aftermath of these Fed news events.

In the morning we have important jobs data and ISM data both at 10 AM NYC time.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,524
  • Jan 3, 2023 6:43pm Jan 3, 2023 6:43pm
Quoting Ed777
Vidvad...just confirming...is your 4-9-18 ema all on the "close" ?
Are you using Ninjatrader and the Renko with Heikin Ashi?
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,525
  • Jan 3, 2023 6:55pm Jan 3, 2023 6:55pm
Yes..i am using Ninjatrader with renko and heiken ashi. I used to watch different futures and multiple charts from different timeframes and that was exhausting keeping up with it all. Now I am only focusing on 6E and 6B and it feels so much more relaxing.

I am unclear when you use Rockpoint's template of the 9 high and 9 low ema compared to when you use 4-9-18 ema on the close? Thanks
  • #3,526
  • Jan 3, 2023 7:33pm Jan 3, 2023 7:33pm
Quoting Ed777
Yes..i am using Ninjatrader with renko and heiken ashi. I used to watch different futures and multiple charts from different timeframes and that was exhausting keeping up with it all. Now I am only focusing on 6E and 6B and it feels so much more relaxing. I am unclear when you use Rockpoint's template of the 9 high and 9 low ema compared to when you use 4-9-18 ema on the close? Thanks
I trade rocky 9/9 100% of the time. The 4-9-18 I look at from time to time to see how close the two systems are to agreement.

Pick one or the other.

Since you have Ninjatrader and you are trading the same chart template as rocky, then my suggestion would be for you to stick with that one.

Yes, sticking with one or two instruments and this one template is one of the best things I have done.

I mentioned several times hat I have also been working Stacey Burke's concepts. As a result, I was watching two charts: One a 15 minute Stacey Burke template, the other a Renko HA rocky template. I started making errors. There would be apparent conflicts. The conflicts were in my head with no way to sort them out other than to make more errors.

I now only watch the rocky template ES and the rocky template 6B. I completely and utterly trust the system and the rules that I have developed to use it. The rules are based on observations of nearly every trading day since last May. The closer I come to trading the system with my rules flawlessly, the more profitable and consistent I have become.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,527
  • Jan 3, 2023 7:49pm Jan 3, 2023 7:49pm
My BASIC RULES

1) Enter immediately at market without hesitation when signal bar closes with 4 EMA above the 9 ema highs for a long or below the 9 ema lows for a short.

2) Immediately enter a stop loss of 12 ticks for ES and 10 ticks for 6B (Ninjatrader does this automatically for me)

3) Immediately enter a take profit order of 40 ticks, or 10 points for the ES, and 50 ticks for the 6B.

4) A. If the entry candle or the candle immediately after the entry candle closes as a doji, exit the trade at the market.
B. Be prepared to re-enter the market in the direction of the trade if the market prints another signal candle.

5) Never let a trade that has run +13 ticks (ES) or +15 ticks (6B) become a loss. Always be willing to renter a trade if stopped at breakeven and then price prints a new signal candle.**

**This is how I am trading this rule this week. Once I start the week with a rule in place, I Must follow it strictly 100% until the weekend, when I can evaluate its effects on my performance and determine it is solid or develop a competing hypothesis that causes me to revise or eliminate a rule. Of my current rules, this is the only one I consider a work in progress. The others are solid and are keepers.

The goal is 100% compliance with my rules, and at the end of each day I print a physical copy of the chart, mark my trades by hand, and journal a self-evaluation as to how well I kept to my rules and any violations of those rules.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,528
  • Jan 4, 2023 5:55am Jan 4, 2023 5:55am
Hello,

I have tried to replicate the template of ninjatrader in trading view using range Bars.

Could you please share a logical setting for the range bars?

Setting 1000R per bar seems to be working for me

However I am not aware of the functionality of these bars could @vidvad maybe share a comment on my setup

Hopefully I can make it look closer to the Ninjatrader setup

My current setting are 1000 Ranges per RangeBar


I have attached the 4EMA(white Line)

The green Channel is a combination of EMA9 High and Low

I have also attached the SMA200 taken from another method to have a confirmation of the BIAS

I am using the 3 Extra indicators which are actually showing the difference between following EMAs

EMA DIFF 4-9
EMA DIFF 4-18
EMA DIFF 33-55

The 3 Histogram indicators help me check momentum and is another way of visualising the position of the EMA4 to EMA9 and EMA18 in order to catch easier potential entries or exits.

The EMA DIFF 33-55 are slower EMAs to check current momentum

Any comments are welcome
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2023-01-04 at 13.01.48.png Size: 283 KB
  • #3,529
  • Jan 4, 2023 8:14am Jan 4, 2023 8:14am
Quoting papadas
Hello, I have tried to replicate the template of ninjatrader in trading view using range Bars. Could you please share a logical setting for the range bars?
I'm unfamilar with trading view.

My comments: What does knowing the difference betweent eh various MA's do other than take up valuable chart real estate? What rules are they generating for you?

200 SMA for bias? Again, how is this helping you trade? What rule have you generated from the 200 SMA that affects how you will trade?

In my opinion, there should be nothing on your chart other than the information you need to apply whatever rules you have generated for your trading plan.

If you have rules for each of those indicators, then keep them. Otherwsie it looks like way too many indicators to me.

rocky uses more indicators than I do. However, rocky has a rule for each indicator.

Do you have a rule for each indicator?
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,530
  • Jan 4, 2023 8:18am Jan 4, 2023 8:18am
Ninjatrader's website says they offer free demo and free live data. I Know that it runs all data, stocks, futures, and forex.

Anyone looking to trade this systme should at least look ininto seeing if they can get access to the ninjatrader software, and perhaps see if they can open an account with Ninjatrader brokerage.

I think someone may have posted that this template can be put together somehow on MT4 or MT5. I don't know who posted it or when, but I do think that information is in this thread somewhere.

Futures Trading Demo & Free Market Data| NinjaTrader
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,531
  • Jan 4, 2023 10:40am Jan 4, 2023 10:40am
Quoting vidvad
Ninjatrader's website says they offer free demo and free live data. I Know that it runs all data, stocks, futures, and forex. Anyone looking to trade this systme should at least look ininto seeing if they can get access to the ninjatrader software, and perhaps see if they can open an account with Ninjatrader brokerage. I think someone may have posted that this template can be put together somehow on MT4 or MT5. I don't know who posted it or when, but I do think that information is in this thread somewhere. Futures...
HERE is the MT4 template
Don't think!
  • #3,532
  • Jan 4, 2023 11:30am Jan 4, 2023 11:30am
Quoting LiboCop
{quote} HERE is the MT4 template
Thanks LiboCop!
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,533
  • Jan 4, 2023 4:43pm Jan 4, 2023 4:43pm
Hi Vidvad,
I like your rules simple and direct. I think the only thing we disagree on is discretion, which I feel is a valuable part of trading especially day trading.
I think your system has more discretion in it then you think.

Sitting on the deck of our beach casita having a beer, 2 2hour surf sessions, I am tired not as young as I used to be. Playa Zicatela is tough even though its not
the high season, waves running 5 to 15 ft, high season 8 to 20+. Its not called the Mexican Pipeline for nothing
  • #3,534
  • Jan 4, 2023 4:46pm Jan 4, 2023 4:46pm
I always bring 4 boards to Zicatela, because there is a good chance I have 1 or 2 snap.
  • #3,535
  • Jan 4, 2023 8:05pm Jan 4, 2023 8:05pm
Quoting rockypoint
I think your system has more discretion in it then you think.
I have very little freedom of decision built into my trading plan currently. The closest thing to discretion is that I can reduce a profit target if there is a major pivotal point between my profit target and my entry. So if my profit target is 10 ES points, but the high or low of yesterday, the high or low of last week, today's central pivot, or today's Globex open is between my entry and my profit targte, then I will exit at the market if we get an HA doji at or near that pivotal level. Such was the case thisa morning. The central pivot was 3855.50, my profit target was 3854. Price made a low with six ticks of the pivot (actually got to within 4 ticks, but 6 is my "close enough to be cautious" level), and then we saw a quick HA doji candle. I already had my mouse on the buttom to close the trade, which I did.

Is that discretion? I really don't think so because I have a rule to exit on a doji if price gets to within 6 ticks of one of those pivotal price levels.

I didn't take anymore trades today though there were actuall several really great and profitable set ups? Was that my discretion? No, because I started this week with a rule that once I have $500 in closed profits (not open - if I have open profits I let them run to my ptake profit or my stop loss or I exit if we get a doji at a pivotal level), so once I closed that trade, which was my second of the day, and I had in excess of $500 in closed profits, I was done trading for the day.

I think you may think I Have more discretion than I do. I have worked and will continue to work on squeezing every inch of discretion out of my trading plan.

It sounds like you're enjoying your vacation, rocky. I hope you and your wife have a blast!
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,536
  • Jan 5, 2023 5:15am Jan 5, 2023 5:15am
Hi Vidvad....is my understanding correct that you take every trade when 4 ema closes above the 9ema ? If that is correct, in a trending market when you are going against trend it seems you would be getting caught in small pullbacks? Also. how do you avoid chop with your rules? Thanks
  • #3,537
  • Jan 5, 2023 7:06am Jan 5, 2023 7:06am
Quoting Ed777
Hi Vidvad....is my understanding correct that you take every trade when 4 ema closes above the 9ema ? If that is correct, in a trending market when you are going against trend it seems you would be getting caught in small pullbacks? Also. how do you avoid chop with your rules? Thanks
Post a chart and circle the areas you're seeing as problems.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,538
  • Jan 5, 2023 6:29pm Jan 5, 2023 6:29pm
Quoting vidvad
{quote} Post a chart and circle the areas you're seeing as problems.
No chart, Ed777?

There is one indicator that I have left on the chaqrt and I don't mention much at all, and that is the swing indicator that rocky uses.

That swing indicator is one of the best indicators for telling you when a signal has a chance to run, and when you should wait for a second signal bar before jumping.

Also, we often forget that the candles themselves are indicators, especially the ones we use: renko bricks with heikin ashi applied to them.

There are really just a few price action patterns that repeat over and over again using this template.

If you are finding it difficult to avoid repeated stop outs, I would suggest that instead of trading, maybe take a week or two to just watch price action and take notes.

I did htis back in July during my vacation. I watched the market every day, but I wasn't trading. You learn alot about the way these candles form doing that. I probably learned more in those two weeks than I did the the whole three months before that.

I'm going to back off from posting my trades and my trade blotter here as that probably isn't really helping anyone and I am not trying to make myself look good.

If anyone has questions specifically for me and the way I trade Rocky's system drop them here and I'll do my best to answer them. If you are able to include charts with notes or markings, so much the better. This really is a visual learning process, if you ask me.
Life itself is a privilege, but to live life to the fullest is a choice
  • #3,539
  • Jan 5, 2023 7:50pm Jan 5, 2023 7:50pm
Hi Vidvad....actually as i reviewed, I was surprised there were not a lot of examples I could find. And knowing that you exit on a doji, risk is low along with high probability of winning trades.

This chart example is from yesterday of two trades with yellow line marking the entry candle It seems to be an example of proper entries of 4 ema over the 9ema that seemed to be countertrend that would have stopped out. But as I shared, it was hard for me to find examples and of course it is expected to have trades that are not profitable.

I am still not able to get 4 ema dot to show up in the candles so I created an indicator with two 9ema high/low and 4ema with dot to help give me a visual. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 03-23 (5 Renko) 2023_01_04 (8_36_48 PM).png Size: 87 KB
  • #3,540
  • Jan 5, 2023 8:00pm Jan 5, 2023 8:00pm
Quoting Ed777
Hi Vidvad....actually as i reviewed, I was surprised there were not a lot of examples I could find. And knowing that you exit on a doji, risk is low along with high probability of winning trades. This chart example is from yesterday of two trades with yellow line marking the entry candle It seems to be an example of proper entries of 4 ema over the 9ema that seemed to be countertrend that would have stopped out. But as I shared, it was hard for me to find examples and of course it is expected to have trades that are not profitable. I am still not...
I like the indicator you created. Very nice work around. I think you may be using a different version of Ninjatrader than I am.
Life itself is a privilege, but to live life to the fullest is a choice
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