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  • #1,241
  • Aug 6, 2014 2:45pm Aug 6, 2014 2:45pm
Quoting blackridge
From the setup Vantage and Pres78 have talked about, is there any way to create an alert when the combination of the 210 CCI crosses the 100 and the 14 CCI was made its pullback to opposite side for a possible entry? Clive does have an alert when the 210 CCI crosses the 100 but its a lot of alerts when the 14 CCI has not done its pullback like it needs to do. Dont know if that makes any sense.
I think so just use the CCI that pres78 coded for both the 15 min and 1 min cci's and set the alerts accordingly. wait for the 15min alert and then the 1 min cci alert should follow shortly afterwards assuming it sets up ok.
Feel the Fear and do it anyway!!!
  • #1,242
  • Aug 7, 2014 4:54am Aug 7, 2014 4:54am
Quoting clivepackham
{quote} I think so just use the CCI that pres78 coded for both the 15 min and 1 min cci's and set the alerts accordingly. wait for the 15min alert and then the 1 min cci alert should follow shortly afterwards assuming it sets up ok.
Pres78 only caters for 210.....wish a combination of two is possible, that would help....below -100/+100 at 210 corresponding with opposite 14 at +100/-100. as its the basic of this system, the rest are filters
  • #1,243
  • Aug 9, 2014 7:45pm Aug 9, 2014 7:45pm
Quoting pres78
{quote} My gift for anyone that wants to test it... Clive's CCI with the pop up alert fixed to only take into account the trend CCI (no way do I want pop ups every time the CCI 14 hits the 100 levels, for anyone that uses the entry CCI all in one window). So turn the alert on the CCI 210 only and off on the CCI 14 window (unless you use all in one). You will then get a pop up that tells you the CCI 210 has entered trend (hit the +100 or -100). {file}
Hi Pres78,

Is it possible to get a version of this indicator that works on build 509 as the copy I put in the indicator folder will not show up on the charts. I now have the build 670 where it shows up but a very important indicator I also use is not displaying correctly in build 670 I guess one can't have his cake and still eat it Anyway, it's no big deal, just wanted to know it you have a copy otherwise don't worry about it.

Cheers

George
Low Risk Low Stress High Reward High Probability Trades
  • #1,244
  • Aug 10, 2014 8:51am Aug 10, 2014 8:51am
Quoting 919gilead
{quote} Hi Pres78, Is it possible to get a version of this indicator that works on build 509 as the copy I put in the indicator folder will not show up on the charts. I now have the build 670 where it shows up but a very important indicator I also use is not displaying correctly in build 670 I guess one can't have his cake and still eat it Anyway, it's no big deal, just wanted to know it you have a copy otherwise don't worry about it. Cheers George
George,

I am sorry but I do not have a version that will work with that older build.
Today's zone = Tomorrow's opportunity!
  • #1,245
  • Aug 11, 2014 2:05am Aug 11, 2014 2:05am
Quoting pres78
{quote} George, I am sorry but I do not have a version that will work with that older build.
Thanks Pres78. I will be testing build 670 and will see how it goes

Good trading to you

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #1,246
  • Aug 11, 2014 4:47am Aug 11, 2014 4:47am
Hi Guys

Been a bit busy lately doing backtesting etc and have come up with a trading strategy that appears to be working quite well and one of the things I'm doing is using Elliot wave theory to access where I am using a very simple Elliot Wave of 5 waves followed by a simple ABC correction, but I'm no expert so thought I would throw this question out there to any budding Elliot Wave practitioners.

After a 5 wave trend move followed by a correction say ABC for simplicity, are there any clues as to which way price is going to trend after the correction???

Thanks in advance to anyone who answers....
Feel the Fear and do it anyway!!!
  • #1,247
  • Aug 11, 2014 4:54am Aug 11, 2014 4:54am
Quoting clivepackham
Hi Guys Been a bit busy lately doing backtesting etc and have come up with a trading strategy that appears to be working quite well and one of the things I'm doing is using Elliot wave theory to access where I am using a very simple Elliot Wave of 5 waves followed by a simple ABC correction, but I'm no expert so thought I would throw this question out there to any budding Elliot Wave practitioners. After a 5 wave trend move followed by a correction say ABC for simplicity, are there any clues as to which way price is going to trend after the correction???...

Hey!! Think I might of found the answer???

Have a look at the timeframe above it to see which wave the 5 waves was in the timeframe above.

For instance a 5 wave move up on a 5 min chart could be the wave 2 of the 15 min 5 wave down so in that case it would be best to sell the 5 min correction back with the 15 min wave 3, does that make sense???
Feel the Fear and do it anyway!!!
  • #1,248
  • Aug 11, 2014 5:23am Aug 11, 2014 5:23am
Well if that is the case heres what I've done on that basis, if this is wave 3 on 15min move then I've just sold 2 units one for a short term gain and one to hold for the wave 3 move.

Attached Image (click to enlarge)
Click to Enlarge Name: 15 min wave 3.png Size: 72 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 5 min 5 wave move up.png Size: 71 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 1 minute sell 2 units.png Size: 63 KB


Well thats my thinking but of course it could just as easily fly up the page but will take a small profit from one entry and hold the 2nd for the wave 3 15 min move.

This is all part of my new trade startegy which is based on my old one with one little twist that seems to be making it all work out.

Time will tell but if this all starts to work out will share my new trading strategy later see you all later...
Feel the Fear and do it anyway!!!
  • #1,249
  • Aug 11, 2014 5:23am Aug 11, 2014 5:23am
Quoting clivepackham
Hi Guys Been a bit busy lately doing backtesting etc and have come up with a trading strategy that appears to be working quite well and one of the things I'm doing is using Elliot wave theory to access where I am using a very simple Elliot Wave of 5 waves followed by a simple ABC correction, but I'm no expert so thought I would throw this question out there to any budding Elliot Wave practitioners. After a 5 wave trend move followed by a correction say ABC for simplicity, are there any clues as to which way price is going to trend after the correction???...
Nope; don't know that much about Elliot, sorry
  • #1,250
  • Aug 11, 2014 5:30am Aug 11, 2014 5:30am
By the way I'm not really an Elliot Wave trader i'm far simpler than that, just identify the ABCD moves and where they might be in a possible 5 wave move but even simpler than that where is the 1 min abcd move in the higher timeframes abcd move???

Just identify strong AB's in strong trending markets then trade the CD move.

Simple as that just decide which CD you're trading and go for it.

Ideal scenario??? Sell/buy a daily CD move entering on a 1 min abcd move, simple as that....

Attached Image (click to enlarge)
Click to Enlarge Name: So far so good.png Size: 62 KB


Gotta go to work catch you all later...
Feel the Fear and do it anyway!!!
  • #1,251
  • Aug 11, 2014 12:59pm Aug 11, 2014 12:59pm
Well that was interesting both my GBPAUD trades stopped out at BE and no sign of that wave 3 on the 15 min timeframe????

I kinda think these 5 wave patterns are easy to mark out after the act but not so easy before the fact???

CAD was strong across the board today so rather than predict the future waves that might or might not happen better to just trade the strong or weak currency like CAD today. Cad was strong across the board and its no coincidence that it was massively overbought on Friday after a negative news release. This reinforces my beliefs in my new system which is very focused on buying oversold markets and selling overbought markets because thats exactly what happened today. probably the most oversold currency Friday was the CAD, but today it just went through the roof!!!

This is why from now on I'm looking for the most overbought or oversold 15 min CCI then wait for a reversal signal on the 1 minute eg a ABCD pattern against the 15 min CCI. If I get it right then moves like that GBPCAD move today should be caught more often than not on my 1 minute timeframe.

Sure there's gonna be plenty of false starts and a handful of losers but the point is that the winners will be far bigger than the losers and that, IMHO is the secret to a successful trader.

I will post later about my new way forward later on if I get a chance...
Feel the Fear and do it anyway!!!
  • #1,252
  • Aug 11, 2014 3:26pm Aug 11, 2014 3:26pm
Just another observation about the strongest movers today some of the CAD pairs went overbought on Friday by quite enormous amounts like usdcad +952 eurcad +639 Gbpcad +666 is it just pure coincidence that they went flying the other way today???

I don't think so, I'm beginning to realise these overbought and oversold markets present us with an enormous opportunity to trade the reversal the other way and to hold until the reverse oversold or overbought conditions exist then close out when they start to move back the other way and of course price action backs it up too.

Lets have a look at that EURCAD trade as a perfect example of what I'm talking about with oversold and overbought markets. I've used the 5 min timeframe so I can get all 3 days price action in the chart but would probably trade off of the 1 minute chart. Thursday it went down to produce an oversold market of -691.538 on the CCI, then it shoots up from here 174 pips to go overbought to 410.979 on CCI where it then falls 117 pips (approx 61.8 retracement) today and now sitting oversold again so where tomoz????

I aim to trade these runs from greatly oversold like Thursday to the overbought levels like Friday, closing out after a failed drive. My entries will be the LH's for selling and the HL's for buying. I have marked out some of the CCI entries on the chart with vertical yellow lines. They are all qualifying ABCD entries eg with strong AB moves followed by nice BC moves(pullbacks)

See how its also appearing top of the 5 minute TT's along with GBPCAD, well thats how I'm going to be looking for these oversold and bought markets, anything top of my 5 minute trenders has got to be a strong reversal suspect so I will be watching the top 4 for reversal signals on my 1 min timeframe.

I'm no longer looking for continuation trades where I enter a buy trade if overbought or a sell trade if oversold, rather I will use them as hold levels from my reversal entries and not entries for buys or sells. In fact I will almost make it a rule not to buy an overbought market and not to sell an oversold market. However the overiding qualification for entry will be a strong AB move clearly taking out the last CD move.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM5.png Size: 98 KB


Heres a the same EURCAD chart just showing my strategy from now on where I will be looking to sell overbought 210 CCI using market structure eg selling LH's buying HL's . I will be trading from the overbought level looking for sell setups after the 210 CCI has given a sell signal by crossing down over the +100 level and will be looking to buy when the 210 CCI has crossed up over the -100 level. I will hold until 210 CCI crosses the 100 levels and price structure confirms the reversal.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM51.png Size: 67 KB


Well thats it in a nutshell I'm a seller of overbought and a buyer of oversold +/-100 levels using market structure to confirm reversal. Plus I will hold sell trades all the time the 210 CCI is below -100 level and hold buy trades all the time its above the +100 level on the 210 CCI.
Feel the Fear and do it anyway!!!
  • #1,253
  • Aug 11, 2014 4:06pm Aug 11, 2014 4:06pm
Quoting clivepackham
Just another observation about the strongest movers today some of the CAD pairs went overbought on Friday by quite enormous amounts like usdcad +952 eurcad +639 Gbpcad +666 is it just pure coincidence that they went flying the other way today??? I don't think so, I'm beginning to realise these overbought and oversold markets present us with an enormous opportunity to trade the reversal the other way and to hold until the reverse oversold or overbought conditions exist then close out when they start to move back the other way and of course price...
What TF are you using to determine OB or OS? Obviously the 210 CCI is showing something different on a 5 min chart than the 1 min chart and different again on a 15 min chart etc...

Also what is considered OB or OS? You say you are a seller of OB and a buyer of OS +/- 100 but then you say you will hold sells below -100 and buy trades above +100 but isn't that your opposing trade signal also?

Or are you only looking for severely OB or OS and if so what is that value?

EURCAD your first chart just to the left we have a major OS and the market does stop going down but it also only goes up 40 or so pips before falling 75 pips and finally taking a strong move up?
Today's zone = Tomorrow's opportunity!
  • #1,254
  • Aug 12, 2014 6:57am Aug 12, 2014 6:57am
Quoting pres78
{quote} What TF are you using to determine OB or OS? Obviously the 210 CCI is showing something different on a 5 min chart than the 1 min chart and different again on a 15 min chart etc... Also what is considered OB or OS? You say you are a seller of OB and a buyer of OS +/- 100 but then you say you will hold sells below -100 and buy trades above +100 but isn't that your opposing trade signal also? Or are you only looking for severely OB or OS and if so what is that value? EURCAD your first chart just to the left we have a major OS and the market...

Hi Pres78 how you doing???

Heres what I'm saying, we are better off buying oversold markets and selling overbought markets on the 15 min CCI by buying/selling oversold/overbought 1 min CCI signals . We should hold buy trades all the time the 15min CCI stays above the +100 level closing out when it crosses back down below the +100 level. The exact way to close out is once this happens trail the 1 min candle lows until stopped out. (the next failed drive up basically).

Be careful taking any new buy entries on the 1 min if the 15 min is overbought above the +100 level and only take entries if the BC move is proceeded by a strong AB move.

A picture paints a thousand words so here's what I'm trying to say in a chart. this morning before the LO GBPCHF was very oversold on the 15 min CCI and it was sloping back up towards the zero level. Basically coming back from the OS level. This is the time to look for oversold signals to buy on our 1 min chart, but always confirm with market structure, are they HL's??? Are the proceeded by strong AB's??? Was the last LH taken out??? If yes then take the first 2 at least.

After the 15 min CCI goes over +100 level be careful of taking anymore 1 min OS signals -100 unless proceeded by a strong AB move.

Oh and by the way look whats happened since the end of the buy trade??? As 15 min has been overbought and come back down below=100 level take the next 2 1 min CCI overbought signals, aren't looking too bad are they???

Attached Image (click to enlarge)
Click to Enlarge Name: Buying oversold market followed by a sell setup.png Size: 90 KB


This is the way I am trading from now on always looking for overbought or sold levels on the 15 min CCI and by the way it can be done on any timeframe using the one above for the trend and the one below for the entries. Will look into an EOD system using weekly and dailys in exactly the same way and see how it goes.

Any questions please fire away....
Feel the Fear and do it anyway!!!
  • #1,255
  • Aug 12, 2014 10:02am Aug 12, 2014 10:02am
Hi,

Good thread. Subscribed.

Have a question.

Pl check the chart attached.

If I want to trade in 5 min chart, is this setting right ?

I have CCI with 210 for 15 min, 70 setting for 5 min, 14 setting for 1 min.

The MA and Heikhenashi as per your system.

All CCI same colour, with 100 Moving average showing same colour entry ?
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 70 KB
Intraday only.
  • #1,256
  • Aug 12, 2014 12:09pm Aug 12, 2014 12:09pm
Quoting navk
Hi, Good thread. Subscribed. Have a question. Pl check the chart attached. If I want to trade in 5 min chart, is this setting right ? I have CCI with 210 for 15 min, 70 setting for 5 min, 14 setting for 1 min. The MA and Heikhenashi as per your system. All CCI same colour, with 100 Moving average showing same colour entry ? {image}
You wouldn't need the cci 210. Also whilst some moves will work with a ha colour change the major focus is on the a b c (or 1 2 3) reversal for entry. Also the 1 min cci210 or 5 min cci70 should reach -100 to start looking for sells and +100 for buys.
  • #1,257
  • Aug 12, 2014 12:56pm Aug 12, 2014 12:56pm
Quoting Vantage
{quote} You wouldn't need the cci 210. Also whilst some moves will work with a ha colour change the major focus is on the a b c (or 1 2 3) reversal for entry. Also the 1 min cci210 or 5 min cci70 should reach -100 to start looking for sells and +100 for buys.
Clive's chart shows 210 CCI setting in 5 min chart ?
Intraday only.
  • #1,258
  • Aug 12, 2014 1:22pm Aug 12, 2014 1:22pm
Quoting navk
{quote} Clive's chart shows 210 CCI setting in 5 min chart ?
On a 1 Min chart the entry is CCI 14, trend you can use one or both. 5 min trend is 14x5 = CCI 70. 15 min trend is 14x15 = CCI 210.

If you jump to a 5 min chart rather than a 1 min chart the 15 min CCI 210 you were looking at on a 1 min chart would now be CCI 14 (equal to the CCI 70 on the 1 min chart) x 3 for a trend CCI 42 (this is the same as a 210 on the 1 min chart).

Now to get really tricky if you hate the 1 min noise or like a little more time to make decisions you can use the 15 min trend CCI 42 but drop the entry CCI to be a CCI 3 which is roughly equal to the CCI 14 on the 1 min chart. So you get the same information as you had on the 1 min chart except with 5 minute bars.

Confused yet?

I am .
Today's zone = Tomorrow's opportunity!
  • #1,259
  • Aug 12, 2014 3:46pm Aug 12, 2014 3:46pm
Confused.

I like to trade in 5 min chart as you stated, the reason being 1 min is too noicy.

If it is 5 min chart, trading, CCI 14, CCI 70, CCI 210 would be required or not ?

This is equivalent to :

I see 1 min, 5 min, 15 min CCI in 5 min chart.

Am I right ?
Intraday only.
  • #1,260
  • Aug 12, 2014 3:54pm Aug 12, 2014 3:54pm
Quoting navk
Confused. I like to trade in 5 min chart as you stated, the reason being 1 min is too noicy. If it is 5 min chart, trading, CCI 14, CCI 70, CCI 210 would be required or not ? This is equivalent to : I see 1 min, 5 min, 15 min CCI in 5 min chart. Am I right ?
Not it's not seeing those 3 TF's on the 5 min chart.

A CCI 14 on the 5 min chart replicates the 70 CCI on a 1 min chart.

A 70 CCI on the 5 min chart would be a 25 min CCI.

A 210 CCI on the 5 min chart would be a 75 min CCI.

I told you above if you want to see the 14 CCI for all 3 TF's on the 5 min chart you would need to use CCI 3, CCI 14 and CCI 42.

You have to consider the multiple of the next higher TF. 1 min to 5 min is 5, 5 min to 15 min is 3, 15 min to 1hr is 4 and so on...
Today's zone = Tomorrow's opportunity!
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