As I’ve been mentioning… Bill’s Arrows are awesome. But, they are also conservative. And, even if it’s not in their best interests, some people want more action than that. I swear, many beginners would rather lose money trading fast than make money trading slow. Sad but true.
So, I’ve been working on a new kind of entry indicator, that attempts to catch all the moves in the market. Sure, if you attempt to do that, you have to be willing to take some swings that miss. But, this morning I arrived at something that looks promising. Here’s Friday’s action in 2584 share bars, across two screenshots:
There’s 18 trades on Friday, 9 trades on each screenshot. 16 Wins and 2 Losses. I highlighted the losses on the charts above… it was easier than highlighting all those wins! :-) Obviously more research is needed…
The indicator is built out of GCycle Stochastics, Market Sync, VRam Bars, the Rank Sum Tests, Alla’s Average, the Rolling VWAPs, and a new variant of volume indicator I threw together this morning. Except for the new volume variant, all of these are available today from eotpro.
The tall Red and Green lines are meant to be the more confident entries, while the shorter cyan and magenta lines are more for aggressive entries or trend hijacking. That’s the intent anyway… I’m not sure yet if you should play them any differently. This chart is set up so that early exits are gauged by Bonnie’s Bars (the paintbar), as usual. That’s how I gauge which are wins vs losses, anyway, for these purposes. It’s assumed that if you show 1.5 points or more profit, that you won’t let the trade become a loss.
Just please try to remember that the faster your signals are, the more skill and discipline you need to actually make money from them. Beginners really would be best served by learning a conservative approach like the Arrows we’ve released.
Dang gum sir! There should be a cherub that follows behind you picking up your gems that roll out of that brain of yours and put em in a book. :)
E.
Thanks. Hopefully this will turn into something usable… but there’s lots more study that needs to be done. It happened to look great on Friday’s data so I posted it. I looked across the last five days and they looked decent. There are trouble spots, though. I’ll need to go over months of data, and try to make improvements.