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VTTrader: Indicator Discussions for VT Trader

  • #1
  • First Post: Jun 12, 2006 3:27pm Jun 12, 2006 3:27pm
If you have an idea for an Indicator, post your request here.
I make no promises but will see what can be done to constuct it.
  • #2
  • Jun 20, 2006 3:03pm Jun 20, 2006 3:03pm
Bemac- I loved that Fantail indicator. Aesthetically it is quite pleasing.
  • #3
  • Jun 21, 2006 9:49am Jun 21, 2006 9:49am
Hi PR,

Glad you like it {Fantail} I think it does have some merit beyond Art.

If you look at it and can't see the candles, don't trade. I know that leaves a ton o' pips on the table but it sure garners a bunch more.

I was asked if it actually bore any base in Guppy's trading methodology and haven't responded yet because I have been attempting to compare it to all 6 of his methods. So far the only conclusion I have reached on that front is that it does seem to comply with "Bubble Trading" [without the 2 group gap] still trying to compare it to the others.

I'm seeing Entry opportunities @ MA1 Crossing MA49
and Exit suggestions @ MA1 crossing MA12.

{Those are the only 3 values that show up in the inspect window}

btw. I've been working on your BB request and have it pretty close but not quite there yet. I will post it when I feel it's ready for you to test.
  • #4
  • Jun 21, 2006 5:43pm Jun 21, 2006 5:43pm
Bemac- I do see that the fantail has trading potential. The only problem I see is that a setup would have to be designed and centered around the indicator itself- because it takes up alot of screen space. If I put it with B Bands or Vegas Tunnel- my eyes will explode. It is perfect at showing trending versus non-trending markets.

I am also starting to notice that if one actually takes time to look for patterns with all the different ma's in fantail- you could trade off the balloning( gaining momentum) and contraction of ma's(stalling momentum). Coupled with the ADX you could also look into position sizing techniques based on some stuff that I have read from Chuck LeBeaus TraderClub Forum- he has extensive info on ADX. You could come up with some profitable setups I am sure.

I found it interesting that you say when you cannot see candles- no trade. Is that because the market is contracting, or stalling, and you want to wait until a trend to trade with fantail?

I am not that familar with? Daryl Guppy? I think I have heard that he is famous for his trendfollowing technique and community?

I would post a image of a fantail but I am having problems with my VTTRADER software currently!

TY- Rip
  • #5
  • Jun 21, 2006 7:46pm Jun 21, 2006 7:46pm
Quoting PipRippy
Bemac- I do see that the fantail has trading potential. The only problem I see is that a setup would have to be designed and centered around the indicator itself- because it takes up alot of screen space. If I put it with B Bands or Vegas Tunnel- my eyes will explode. It is perfect at showing trending versus non-trending markets.
Change the colors of most of the MA's to the same as {or very close to} your Chart Background Colour. Keep the Main 3 MA's evident.

Quoting PipRippy
I found it interesting that you say when you cannot see candles- no trade. Is that because the market is contracting, or stalling, and you want to wait until a trend to trade with fantail?
I like it because it seems to bounce inside those walls a little regularly until it decides a break direction, besides, it eliminates a couple of pairs from my radar.

TY- Rip[/quote]
  • #6
  • Jun 22, 2006 5:37am Jun 22, 2006 5:37am
Bemac- I wake up this morning and decide to demo some fantail trades at start of euro morning 5am eastern(live in Texas).

All of the majors are showing strong trending fantail formations on lower timeframes(5min-10min). Like you said wait until you can see the candles- you can actual buy the pullbacks- because the longer Ma's on fantail display longterm trend. I am using a PPO oscillator- but any oscillator or CCI etc.

see image
TY
RIP
Attached Image
  • #7
  • Jun 22, 2006 6:15am Jun 22, 2006 6:15am
Here is a image of that same profitable fantail trade- this shows me using the Bollinger Band Bands as a trailing stop. I closed the trade when the red candle closed below the 1 dev Band (red arrow)

IT also appears that you can use the shortest fantail MA as a trailing stop- close the trade when price closes back in the fantail etc. It appears that this type of trading will work in all timeframes.

TY
RIP
Attached Image
  • #8
  • Jun 22, 2006 2:20pm Jun 22, 2006 2:20pm
Quoting PipRippy
Coupled with the ADX you could also look into position sizing techniques based on some stuff that I have read from Chuck LeBeaus TraderClub Forum- he has extensive info on ADX.
I do not think Chuck LeBeaus Traderclubforum has anything to offer the fantail. I had been looking into some of his position sizing off the ADX. Basicall rising ADX you increase lots- and falling ADX after trending run you start taking profit etc. There is not any way to get a normal reading with ADX unless you use a seperate indicator. I am at a point in my trading that I try and use the least amount of indicators as possible and focus more on money management.

TY- RIP
  • #9
  • Jun 23, 2006 1:12pm Jun 23, 2006 1:12pm
The setups I have been looking for with the fantail have been with a 1hr fantail and 5min fantail. These are some high probability shorterm trades in obvious trending markets. The 1hr fantail, or any timeframe, does a very good job of displaying a trending market. What I have been looking for is the longterm ma's falling in line with the shorter ma's. This is how I guess it got its name as fantail. In the 1 hr image you can see the fan starting to open up and sreading out- I personally consider, in all of trading, these type of trends are the most desired.
Switch down to the 5min and look for similar setups- or buybacks/pullbacks. In the 5 min you can see that it stalled- the candles fell back into the fantail- I am waiting for it to come out of the fantail to buy- see image.

I can just spend my time looking at longer timeframe fantails(1hr-4hr) and then dropping down to lower fantails and picking my spots to enter trades.

It is true that you can scan markets with just two simple ma's- and with a well trained eye you can find the same trending pairs. I just personally like the way you are looking at the shorterm-midterm-longterm players in the market.

I would appreciate any positive or negative comments about different setups with the fantail- or my method. This is the first setup I naturally started with.

TY- RIP
Attached Images
  • #10
  • Jun 24, 2006 8:44pm Jun 24, 2006 8:44pm
I was thinking of something like this about a week ago....very interesting indicator, seems like there is definetly some aplication for this.
Same Whore .... Different Dress
  • #11
  • Jun 24, 2006 10:24pm Jun 24, 2006 10:24pm
Quoting johnedoe
I was thinking of something like this about a week ago....very interesting indicator, seems like there is definetly some aplication for this.
Try applying the standard version with the Same Parameters over top of it to show you momentum changes.

In other words, if you apply a 4 Hour 21 period Variable Timeframe SMA on a 1 Hour Chart, also apply a Standard 21 SMA to the same chart.
  • #12
  • Jun 24, 2006 11:01pm Jun 24, 2006 11:01pm
yeah I've been doing a lot of experimenting with it....doing just what you suggested..I am seeing some potential here.
Same Whore .... Different Dress
  • #13
  • Jun 26, 2006 6:57am Jun 26, 2006 6:57am
As far as some trading rules with variable ma's- EX. 1hr chart with 21 ma and variable 4hr 21 ma- are you looking for the quicker 1hr 21 ma to agree with the 4hr 21 ma. The foundation of most multi-timeframe systems(triple screen) is for your smallest timeframe to be in sync with the bigger. I think we all understand the basic premise of triple screen trading. The one problem I have is that you give up the very big initial breakout moves why the bigger timeframe catches up with the new trend change. Any trader knows the frustration of watching a big trend reversal and your system will not let you take the trade because the bigger timeframe is lagging. I am curious to any suggestions or setups anybody has with the variable ma's. There has to be something more then the "Elder" method of both ma's in agreement. I have only been trading for about a year so I am searching for a method to use besides the typical "Elder" method.

Any Thoughts?
RIP
  • #14
  • Jun 26, 2006 8:21am Jun 26, 2006 8:21am
the projection oscillator(widner) seems great, where can i find this indicator?
thanks

Quoting PipRippy
Bemac- I wake up this morning and decide to demo some fantail trades at start of euro morning 5am eastern(live in Texas).

All of the majors are showing strong trending fantail formations on lower timeframes(5min-10min). Like you said wait until you can see the candles- you can actual buy the pullbacks- because the longer Ma's on fantail display longterm trend. I am using a PPO oscillator- but any oscillator or CCI etc.

see image
TY
RIP
Trading is a long and a short story.
  • #15
  • Jun 26, 2006 9:13am Jun 26, 2006 9:13am
Quoting spinmypip
the projection oscillator(widner) seems great, where can i find this indicator?
thanks
Hi spinmypip,

I have the Stickies in this forum split in an effort to help you find any Indicators or Strategies that have been posted. So.. if you see a discussion on one that interests you, you should be able to find it in this thread

Indicators & Trading Systems Only. No Discussions please.

If you are looking for the Fantail MA's,
here's the link.
http://www.forexfactory.com/forexfor...1&postcount=11

hth
  • #16
  • Jun 26, 2006 10:06am Jun 26, 2006 10:06am
Quoting PipRippy
Bemac- I wake up this morning and decide to demo some fantail trades at start of euro morning 5am eastern(live in Texas).

All of the majors are showing strong trending fantail formations on lower timeframes(5min-10min). Like you said wait until you can see the candles- you can actual buy the pullbacks- because the longer Ma's on fantail display longterm trend. I am using a PPO oscillator- but any oscillator or CCI etc.

see image
TY
RIP
Hi RIP,

I have a look at Overlayed Stohs for timing your entry. Pay particular attention to the Horitontal Blue/Red line that runs along the 50 mark.

http://www.forexfactory.com/forexfor...00&postcount=9
Attached Image
  • #17
  • Jun 26, 2006 9:49pm Jun 26, 2006 9:49pm
Bemac- Here is an example of a trade using the Overlayed Stoichastics and Fantail(see image). I started focusing on the EUR/USD because the longterm fantail was sweet. I dropped down to 5 min for a shorterm trade. I am still working out on the overlay timeframe. And truth be told- when I actually start trading real money most likely it will be on 1hrtimeframe. I am trying to work out some methodology with the fantail and multitimeframe stoichastic and ma's.

I am guessing that when using the Overlay stoic. you want to go to the next highest or the 2nd higher timeframe? Here is a perfect trade on 5 min eur/usd w/ 15 min overlay stoichastic and fantail. As you can see in the image- the price is visible above fantail. The 15 min and 5 min stoichastic is sreaming buy crossover/oversold. I always use a price projection oscillator because it seems to signal a little bit earlier over most oscillators. This is about as good as a trade as you can get! I am interested in any suggestions on what mixture of timeframes to use with overlay stoichastic. What type of overlay stoichastic settings on a 5min,15min,30min,1hr,4hr timeframes. Is there some general rule of thumb, like the next highest timeframe, or do you just eyeball it?
Thanks again!
RIP

Sorry but another posting question. It will not accept a full size screenshot. When I capture each image- it will not accept it until I make it real small and minimze the length and width of pic until the froum will accept its size! Is there any other way to post a bigger screenshot. Ty
Attached Image
  • #18
  • Jun 26, 2006 10:19pm Jun 26, 2006 10:19pm
Quoting PipRippy
Bemac- Here is an example of a trade using the Overlayed Stoichastics and Fantail(see image). I started focusing on the EUR/USD because the longterm fantail was sweet. I dropped down to 5 min for a shorterm trade. I am still working out on the overlay timeframe. And truth be told- when I actually start trading real money most likely it will be on 1hrtimeframe. I am trying to work out some methodology with the fantail and multitimeframe stoichastic and ma's.

I am guessing that when using the Overlay stoic. you want to go to the next highest or the 2nd higher timeframe? Here is a perfect trade on 5 min eur/usd w/ 15 min overlay stoichastic and fantail. As you can see in the image- the price is visible above fantail. The 15 min and 5 min stoichastic is sreaming buy crossover/oversold. I always use a price projection oscillator because it seems to signal a little bit earlier over most oscillators. This is about as good as a trade as you can get! I am interested in any suggestions on what mixture of timeframes to use with overlay stoichastic. What type of overlay stoichastic settings on a 5min,15min,30min,1hr,4hr timeframes. Is there some general rule of thumb, like the next highest timeframe, or do you just eyeball it?
Thanks again!
RIP

Sorry but another posting question. It will not accept a full size screenshot. When I capture each image- it will not accept it until I make it real small and minimze the length and width of pic until the froum will accept its size! Is there any other way to post a bigger screenshot. Ty
Hi Rip,

Firstly Posting Images.
The Maximum size for an Image is 600 pixels x 600 pixels so when you resize your image, Maintain Aspect and reduce to 600 pixels wide. If you only add 1 attachment, that should post the largest image directly into your post.

Overlayed Stohs.
The shortest timeframe Chart I use them on is a 30 min Chart.
I like to overlay with a multiple of the Chart Time frame.
ie. 30 x 2 or 30 x 4 etc.
So 30 Min Stoh overlayed with 1 Hour or 2 Hour stohs.

I prefer to see if I can catch a 6 - 10 bar move so that relates to a 3 -5 hour day trade. But I don't hold it for a specific # of bars. Move Stop to BE asap and set Limit at next Pivot.
  • #19
  • Jun 29, 2006 12:25am Jun 29, 2006 12:25am
BEMAC-After looking over hundreds of charts with the Overlayed Stoichastic I am never going to be able to go back to the single timeframe stoichastic. The basic rule of thumb of " x 2" or "x 4" fits, each chart will naturally point to the right multi etc.. Those "big breakouts" always seem to happen when both stoichastics are overbought/oversold and both signal crossovers.
I am happy that the indicator(stoichastic) that you decided to make multi-timeframe is the same indicator that I always use. That saves me from requesting your services for one more indicator request!

Bramhall- It looks like you been reading all the same books that I have the last couple of months or what?. Before Boris, I read Cater's Mastering the Trade, I have started his bollinger squeeze setups but I dont use the momentum indicator.

After reading your post I am nervous that the bollinger squeeze indicator I am using is illegal. I just hope that John Bollinger does not demand that everybody give his bollinger bands back! After I think about it- I think he was the first to mention the bollinger squeeze in his book anyway.

Good Luck,

Rippy
  • #20
  • Jul 1, 2006 3:47am Jul 1, 2006 3:47am
Bemac- I have some questions about the fantail indicator. I started searching for material that pertained to the fantail and the only thing I could find was in some Darryl Guppy newsletters. In the newsletters he makes some comparisions between his Guppy Multiple Moving Averages (shorterm 3,5,8,10,12,15 and longterm 30,35,40,45,50) and a indicator he calls the rainbow. The indicator at first glance looks like the fantail. I am assuming that you are familar with Guppy's indicators because they are so similar to the fantail and you posted some of his indicators.

He makes a claim that the rainbow indicator is not as reliable as his Guppy indicator. He goes on about how it lags and it does not react fast enough. However, you cannot make the same claim about the fantail because it uses multipla variable ma's correct? The comparision of guppy to fantail is not valid because of the difference in the use of variable ma's.

So if anybody reads those articles and clumps the fantail indicator with the rainbow indicator- they are making a technical error. The fantail will react quicker during consolidation (adx falling) and tighten up during a trend (adx rising).

My second question has to do with the ADX part of the fantail. I am assuming that the variable, or the multiple, is the actual adx result?

If it is below 20-25 price is non-trending- above 25 and rising trend starting. So when a trend develops, the ADX rises, also making the variable ma's longer, so they stiffen up to display the trend more consistent.

I just want to make sure that I am thinking correctly while comparing the two indicators.

Thanks for all your hardwork!

Rippy
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