Disliked{quote} I'm not sure what you're showing here. Are you drawing some lines?Ignored
4
{quote} SilentFather is one of the few on here that is always trying to innovate and come up with his own pioneering ideas to trade the markets successfully, always thinking outside the box, and I will always respect him for that.
Always happier when someone really appreciate someones work. I'll definitely do my best. {quote} Yes, I followed SilentFather's work, last one with keltner channels was great. But these lines remain a mystery to me. Hopefully some light someday.
However, problem is, you need to create such "spiderweb" to trade what it really shows you. I'm trying to make much fewer lines. Hmm, we could try to trade this when we get high/low from ZigZag... As I'm looking on some of those signals. Or the way dancingphil said. Check picture, it might work... somehow.
please include indicators or how to draw the spiderweb, thank you
DancingPhil ZigZag strategy still rules btw.
What is interesting about that indicator for pullbacks, we can use it with "our" ZigZag idea. (Changed settings for pullbacks.. settings before was for trendlines)
What I also like is sentiment. We all know most of the time people are in wrong positions. Always going against the trend. We can use this sentiment to make our win ratio even higher. Simply go against the crowd... But bear in mind that sometimes people are right with their positions. This happens mostly when trend is changing or mini trend changing. Check this for example.
As you see, people are correct with their positions but as price is going higher, people start selling. This means for US "BUY ON LOW". If we hold this trade from today, we would get simple 50 pips or so. This is very nice for doing such simple thing.
SF
- #32
- Mar 21, 2024 8:24am Mar 21, 2024 8:24am
Actual trade example. Opened a sell position 6 min ago and closed it 3 min later at the projected TP level. The blue/pink dots are DP's starting points for calculating orders.
It takes blood, sweat and enough tears to wash away the blood.
- #37
- Mar 27, 2024 2:47pm Mar 27, 2024 2:47pm
- Joined Aug 2019 | Status: Like everyone, Light from Light! | 2,352 Posts
brother... the man saw something... but he said something else... don't look at what he said... look for what he wanted to say... there is a truth here...
God bless you Phil and God bless everyone!
God bless you Phil and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
- #38
- Mar 27, 2024 5:06pm Mar 27, 2024 5:06pm
- Joined Aug 2019 | Status: Like everyone, Light from Light! | 2,352 Posts
as I said before... I don't answer PMs...
I'm really sorry....
RIP Phil and God bless everyone!
I'm really sorry....
RIP Phil and God bless everyone! The only impartial feeling is love. It is also the only feeling of God.
Actual trade example. Opened a sell position 6 min ago and closed it 3 min later at the projected TP level. The blue/pink dots are DP's starting points for calculating orders. {image}
Have some troubles in life, but if I survive, I'll definitely check this.
- #40
- Apr 9, 2024 5:27am Apr 9, 2024 5:27am
{quote} I came here after a long time. Nice info You posted. Will definitely check it out soon.
...I want to quantify how much this line extends for. That is, I want to get an idea on the average number of pips it repaints by; so marking the chart with the price when it first forms would be great... With this average of repaint-pips known, I think I can code an EA for it trade profitably... The EA I have in mind would set limit orders "x-pips" away from when the line is first created... These limit orders would be set with a take-profit at the average repainted pips in the last z-number bars....
The EA is capable of calculating and logging it's own trade statistics and I track exactly what DancingPhil was looking for: the average number of pips a leg would expand over the breakout point, and the average number of pips it would go against that direction.
Let's take an example: a GBPJPY,M1 test from 15.01.2024-01.03.2024 with ZigZag period=30 (full stats attached)
We have 1016 trades which is enough to be statistically relevant. And indeed, without any costs the average profit per trade is -0.2 pip (that's almost breakeven). However, the maxRunup and maxRundown numbers are interesting: on average we see a profit of 12 pip and a drawdown of -6.5 pip. These are the numbers DancingPhil was looking for. It's just an example but we can see a clear imbalance caused by changing market behavior when a breakout occurs. It can be exploited using Phil's entry technique (wait for a few pip minus before entering) and adding a smart exit condition (breakeven stop + profit target).
Btw: Using BarModel=ControlPoints doesn't affect signal statistics. Of course it affects trade statistics but this example is just about ZigZag stats.
In reality one would switch to at least M5, so numbers/imbalance become larger and it's easier to overcome noise and transaction costs.
It takes blood, sweat and enough tears to wash away the blood.