working without OHLC, just C

Hi all, first time poster here.

I am a big fan of Bill Williams Gator system, however much of the discussion around it applies to how the OHLC bar is constructed. However in my data sets I am working with, I only have the close; nothing intra-day.

Three questions:

1. Is this so big of a limitation as to invalidate most technical systems?

2. Bill Williams writes that he constructed his balance line parameters using "nonlinear feedback calculus" (whatever that is...), however I am finding that there are more optimal configurations. Should I be concerned in deviating from the 13,8; 8,5; 5,3?

3. How can one identify the bearish/bullish divergent "bars" (points in my case) without an OHLC? Certainly the angulation can be calculated, but is this is losing idea that one could find the divergent points without OHLC?

Any suggestions would be greatly appreciated!

You're barking up the wrong tree, mate. This sounds like classic displacement behaviour when a fine mind can't stand the thought of losing. The Gator system is just another crappy indicator which will let you down. Learn about calculus or learn about trading.

Learn about price action around support and resistance levels, and wade in.

How does one work with PA using only daily close? A lot of the detail is lost.

I am intrigued. I don't understand why the data sets you are using only have a daily close. What platform are you using? Maybe someone will be able to guide you.

I am trying to apply some of the techniques here to a different market than forex. These markets do not capture the intra-day PA. Therefore I am looking for some guidance on adapting some of the ideas here on this forum to my markets.

To get only close prices in metatrader, just set a line chart.

I'm sorry, that's not what I'm asking. I am trying to explain that in my unique market (which is not forex, but I want to apply the same ideas), I do not have OHLC data. Its simply not available. All I have is the close. I am looking for helpful suggestions as to how to:

-interpret PA from only c (even possible?)
-adapt some of the technical systems here to my markets.

Not sure you can port your FX strategy to this new market. - but I guess that depends on your strategy - if you can trade it in FX w/ close only - then possibly.

Dow theory could apply in this instance. A higher high or a lower low over the course of some time period would give you the trend. Do you have volume available? Also, google the market - if there is public participation someone has got a forum discussing it.

I'm intreagued... What market are you planning to trade?

I'd prefer to not say, but its a relatively obscure, somewhat thin, brokered OTC market. While its liquidity is much much lower than forex, I believe its sufficient to employ some technical strategies. I'm already trading it on fundamentals/POV and a tiny bit of technicals, but I would like to enhance my ability to execute my POV (or anticipate when the market is going to heavily penalize my POV).

That's fine; You have given me some things to think about by opening this thread anyway. Good luck, I think I can see some entrepreneurial spirit in you.

Regards, Leon