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ALF revisited - simple, effective daytrading

  • #521
  • Jun 13, 2010 11:37pm Jun 13, 2010 11:37pm
Quoting iamnoel
Thanks, LouG! Very very nice work here. Totally newbie, so I appreciate the simplicity very much. To all other contributors, well deserved kudos too.

I have a question though, I made the setup as how it was described in post#1, somehow I am not getting the same color and arrow as your post, LouG? Is there a need for any special settings?
Sorry if I confused the issue - I'm beta testing a new version of the candles and inadvertently posted a screenshot from my demo.

You're okay with the setup from Post #1
Old Benjamin was right
  • #522
  • Jun 13, 2010 11:40pm Jun 13, 2010 11:40pm
Quoting iamnoel
Post #332, I dont see the ALF_candles_v2 in post #1, does it mean we dont use this anymore?

I think the Fractal_Candles_v3 supercedes this one, as there's an option to "split candle" or not? Am I correct?

Nice job, Lou G!
You are correct
Old Benjamin was right
  • #523
  • Jun 13, 2010 11:47pm Jun 13, 2010 11:47pm
Quoting Bobcat2
Hi Lou,

Many thanks for this great thread!

Regarding the alert arrows...I consider them distracting. I suppose if traders use them as ALERTS and not trade ENTRIES, they can be considered useful. However, on the right side of the most recent posted chart, Laguere is flat and bisecting the price range, yet we have 3 arrows, which if followed, would have ended in whipsawed trades. There is definitely a lack of price action pulling away from Laguere. Maybe there could be a setting whereby we can adjust the threshold after price opens...
You may turn the arrows off - they are an option on the Inputs Tab.

The purpose of the alerts is to let you know that PA has opened above/below ALF - this may or may not be a good time to trade. That's a decision you'll need to make on your own.

Trying to set a threshold is a very slippery slope from a coding standpoint - almost any value will be wrong some of the time. Unfortunately, the rules of the method are not all mechanical and possible to program - some things can only be done by the computer between our ears...
Old Benjamin was right
  • #524
  • Jun 13, 2010 11:52pm Jun 13, 2010 11:52pm
HI Lou,
have loaded and re-loaded this indicator many times now and I dont get more than this! Can you help?

Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: gy screenshot it candles no bear.gif Size: 28 KB
  • #525
  • Jun 14, 2010 12:14am Jun 14, 2010 12:14am
Thanks for your reply, Lou.

BTW, what was old Benjamin right about?

Inquiring minds want to know...
  • #526
  • Jun 14, 2010 6:54am Jun 14, 2010 6:54am
Quoting dirty
HI Lou,
have loaded and re-loaded this indicator many times now and I dont get more than this! Can you help?

Thank you
Do you also have Instant_Trend.ex4 installed?
Old Benjamin was right
  • #527
  • Jun 14, 2010 7:06am Jun 14, 2010 7:06am
Quoting Bobcat2
Thanks for your reply, Lou.

BTW, what was old Benjamin right about?

Inquiring minds want to know...
Reference is to Old Benjamin (the donkey) in George Orwell's "Animal Farm"...

As it turned out, he was right about everything.
Old Benjamin was right
  • #528
  • Jun 14, 2010 7:08am Jun 14, 2010 7:08am
Hello LouG, I'm having like problem, I add screen so you see

Quoting Lou G
Do you also have Instant_Trend.ex4 installed?
Attached Image (click to enlarge)
Click to Enlarge Name: LouG.jpg Size: 82 KB
  • #529
  • Jun 14, 2010 7:24am Jun 14, 2010 7:24am
Long at the up arrow. I did not take the previous down signal as it was counter-trend.
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 9 KB
Old Benjamin was right
  • #530
  • Jun 14, 2010 7:29am Jun 14, 2010 7:29am
Quoting driftwood
Hello LouG, I'm having like problem, I add screen so you see
You don't need to have Instant Trend on the chart.

Looks like you have your up/down candle colors reversed (on the basic chart). Should be white candles up, black candles down. Probably the basic chart is set to green/black instead of black/white. Hit F8 and check it...
Old Benjamin was right
  • #531
  • Jun 14, 2010 7:31am Jun 14, 2010 7:31am
Took +10 pips on the trade in post #530 - could have been more if I had been paying closer attention...
Old Benjamin was right
  • #532
  • Jun 14, 2010 7:33am Jun 14, 2010 7:33am
Hi Lou, yes Instant trendline is on, removed everything else to make sure there was no interference. Still not working?
Have never had any problems with any of your indies!!
Attached Image (click to enlarge)
Click to Enlarge Name: gy screenshot it candles no bear.gif Size: 20 KB
  • #533
  • Jun 14, 2010 7:36am Jun 14, 2010 7:36am
Quoting Lou G
You don't need to have Instant Trend on the chart.

Looks like you have your up/down candle colors reversed (on the basic chart). Should be white candles up, black candles down. Probably the basic chart is set to green/black instead of black/white. Hit F8 and check it...
Thx to you LouG
  • #534
  • Jun 14, 2010 7:41am Jun 14, 2010 7:41am
Quoting Lou G
Took +10 pips on the trade in post #530 - could have been more if I had been paying closer attention...
Got +6 on this one. Rule is exit right when color changes or when color is changed on closed bar? Or best judgement?
  • #535
  • Jun 14, 2010 7:44am Jun 14, 2010 7:44am
Quoting Lou G
Do you also have Instant_Trend.ex4 installed?


Lou, i did not install Instant_trend either. I just installed all the files from post 1. Do I need instant trend? if so, I did not see it on any post...but maybe I missed it?


thanks
jacob
  • #536
  • Jun 14, 2010 7:46am Jun 14, 2010 7:46am
Quoting dirty
Hi Lou, yes Instant trendline is on, removed everything else to make sure there was no interference. Still not working?
Have never had any problems with any of your indies!!
It's working fine - look back to Friday. There have been no bear candles since then on GY.

Hope you've been long since then - you can buy us all dinner
Old Benjamin was right
  • #537
  • Jun 14, 2010 7:48am Jun 14, 2010 7:48am
Quoting losingtrades
Lou, i did not install Instant_trend either. I just installed all the files from post 1. Do I need instant trend? if so, I did not see it on any post...but maybe I missed it?


thanks
jacob
Only if you are beta testing IT_candles.
Old Benjamin was right
  • #538
  • Jun 14, 2010 7:52am Jun 14, 2010 7:52am
Here you go, even the down move had no bear candles...sorry should of posted this view earlier!..
LOL..did not ride the whole move but taken bits and pieces out!!..
Attached Image (click to enlarge)
Click to Enlarge Name: gy screenshot it candles no bear.gif Size: 26 KB
  • #539
  • Jun 14, 2010 7:53am Jun 14, 2010 7:53am
Quoting evynsdad
Got +6 on this one. Rule is exit right when color changes or when color is changed on closed bar? Or best judgement?
Are you beta testing IT_Candles?

Answer is both - see how PA is moving. If enthusiastically, you can stay with the trade.

In the case of the post #530 trade, note the high of the 12:15 bar is much higher, then a retreat to close (where I got out). What this says to me is that some traders want it higher, others are not convinced, so I took the exit. If the long traders prevail, I can enter again.
Old Benjamin was right
  • #540
  • Jun 14, 2010 7:55am Jun 14, 2010 7:55am
PLEASE - either identify yourself as beta tester or post a chart along with your question so I know which candle version you're using...

Thank you
Old Benjamin was right
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