People are super excited about everypush, and I can certainly understand why. I was showing it off in the live room again today. Here’s a shot from this afternoon….

The arrows here aren’t added by hand… I made a secondary indicator that marks the entries that meet some strict criteria. I DO NOT take all of the trades where arrows show up, and I DO take some everypush trades where arrows don’t show. They are just there to highlight the better-looking ones.

Anyway…

It works on futures. It works on stocks. It works on freaking everything. And it’s available on Nov 1st for Tradestation, Multicharts, and Ninjatrader as part of my offering through eotpro.

[Edit: here's another shot... see? Some of the entries marked with arrows don't work. But a ton of them do!

]

[Edit: even more shots.... my screen just keeps looking so gorgeous I can't help but post them...

]

I coded a simple arrow indicator on ninja to capture the kinds of trades that I have been looking to take. It’s just the simple stuff I’ve been talking about in the eotpro live room, like:

• Candle body below the fast MA
• Volume pressure accellerating in the right direction
• First new push from everypush

… and that’s it! The indicator gives an audio alert, which is nice. Actually, people that know me know that I tend not to boil my entries down to arrows. That’s because I never just blindly take any entry, but rather examine local price action etc… and I hate to give people something that they will understand as “Richard thinks you should buy here,” because that’s not what it means at all. But, I did this one to test the audio alert feature that we’re building into Bill’s Chopometer Arrows.

Here it is on my 3-tick range bar chart at the moment… I thought it looked especially beautiful, so I decided to share:

BTW, everypush(tm) looks good even on daily stock charts….

Why did I choose Alcoa, Inc (NYSE: AA)? Because it was the first stock listed in my ninjatrader Dow-30 list. Yeah, I am lazy. But when your indicators rock, you don’t have to be picky about which chart you pull up.

I traded everypush today on a pretty fast 3-tick range bar, and even in the whippy market it was loads of fun. They saw first-hand in the eotpro live room that not every trade was a winner, but that the win rate was good. One guy even said he made back most of the money he had lost in the morning just by looking at my everypush charts over the live room connection! And there’s even a 1 or 2 second delay in the live room transmission! Not bad… can’t wait to see what they can do with it when it’s right on their screens.

Stocks Mentioned In This Article
Stock	Links
AA	| |

Most people who are interested know that my everypush indicators are coming to tradestation and multicharts next week. Well, people were clamoring for the Ninja release, sending me mail after mail… so I gave in and went ahead and coded it. Here it is, shown both filtered and unfiltered:

As with most of my ninja paintbars, you can either plot it as a paintbar, as a histogram, or both. So, in this screenshot, the upper, filtered version is powering both the paintbars and the histogram. The unfiltered instance in the bottom panel is just plotting the histogram. You can see how the filtering keeps you out of a couple spurious trades on this chart alone!

I do prefer the filtering for my trading. But, the unfiltered version is much more aggressive, and you may find better filters for it than the ones I used. That’s why I left the unfiltered option available: to give you the most flexibility possible.

Anyway, this paintbar/histogram looks pretty great on every chart I throw it at. I think it’s one of my best indicators to date! Available next week for all three platforms as part of my eotpro package.

Blog reader Jeff can’t get enough of Ultrashort Financials Proshares (AMEX: SKF), so I’ve picked it again at his request. Lower-than-average volume gave us fewer bars than I’d like, and our rule about not getting in while the cycle-EMA touches the candle body kept us out of the initial run up. Oh well…. But, the simple system did take two stabs short in the afternoon, for two wins. Not bad!

The ability to adjust the chart levels, or make judgment calls about getting in on the second bar of a run, would have helped us grab more of the profit today, but I don’t want to do anything too complicated in the simple demonstration posts. It’s consistently profitable, which is more than I can say for most traders. Most people don’t understand that you need to get profitable first, and then try to fine tune stuff. Be smarter than most people, and you’ll be fine!

There were no stock suggestions today, so I went with UltraShort Basic Materials ProShares (AMEX: SMN) because it was the most-discussed stock on stocktwits.

As with all recent stock posts, the demonstration method used here is:

• Volume chart chosen based on 30-day average volume (I generally use the overview settings from this reference post on these stock charts).
• New push on the everypush paintbar (first red or green bar)
• Volume pressure on b/a-histogram is up for long, down for short. Not positive whether I care if it’s rising or falling yet…
• Closes above the cycleMA for long, and below for short. Candle body must not be touching the cycleMA… candle wick can be touching the MA… that’s still ok.

I’m still solidifying how I want to do money management on these… but right now I put the stop below the entry candle, and then switch to trailing the stop below each candle as soon as doing so would lock in profit. Obviously you want to hold off on moving the stop if the price closes on the low of a candle, or you are just stepping in front of a bus. So there’s some subtlety there, which I’ll try to codify for you as much as I can as time goes on. Opposite for short trades.

Anyway, with that stop strategy only the first trade (marked 1) would be a loss. The other 6 trades all made money. Trades 2 and 3 would meld together (because you’d still be in trade 2 when trade 3 came around, and make a small amount of money. 4 and 5 make money. 6 is a really close call, but ends up making money just before trade 7 fires. And, obviously, trade 7 is a huge gain compared to all the other trades.

Seriously, people, you can’t tell me it’s ambiguous, now… you don’t even have to understand what a pullback is, anymore. Our eotpro stuff is really, really good.

People in the eotpro live room today know that my chart in the morning was a bit bland… basically stuck in a sideways channel. But, this pic shows that, with patience, eventually a good setup materializes. Right at the end of the day!

What a nice drop! Simply trail the stop above the high of each candle until you are stopped out for 17 points per contract.

Blog reader Jeff requested SKF today. So, here it is:

I’m calling this one five trades for four wins and one loss. If you use the previous plot cycle for stops, you’d have no losses, actually… but I’m generally thinking of a tighter money management scheme than that.

As always, I show the whole day, and I show every qualifying signal. No funnybusiness. Is this the best system there is? Heck no. But, it just takes a couple of my eotpro indicators and uses them together to trade in a way that’s consistently profitable.

The methodology I’m currently using to select the entries is unchanged from the past few days. I thought I might have to add some additional filters to the system to keep out bad edge cases, but so far the simple approach has worked just fine. Anyway, here it is, and it is 100% completely unambiguous so far.

• Volume chart chosen based on 30-day average volume.
• New push on the everypush paintbar (first red or green bar)
• Volume pressure on b/a-histogram is up for long, down for short. Not positive whether I care if it’s rising or falling yet…
• Closes above the cycleMA for long, and below for short. Candle body must not be touching the cycleMA… candle wick can be touching the MA… that’s still ok.

Look at the chart on the left. It’s an overview chart, covering the entire day. Now look at the chart on the right… it’s basically showing just the last leg down.

So, the right-hand chart is just a “zoomed-in” view of the last leg down. But, look at how the trend channels look really similar! We have a push down, and a chop up, and a push down. Also, in both cases, the lower trendline on the second push down is pretty parallel and close in price with the upper trendline on the first push down. Also, see how the overall look of the volume splitter histogram is the same for both charts. Wow! It manages to surprise me every time I see it.

So, the internals of the last leg down are mimicking the overall day’s action, just on a smaller scale. If only there were a way to make use of this in a predictive fashion…

Anyway, it’s been a while since I’ve posted an example of self-similarity in price action. In fact, the last time was July of 2007! But, if you are looking for it, you can find it all the time.

Here’s today on my 17711 share bar trading chart, with just EveryPush paintbars and my new auto-trendline prototype. Looks pretty clean, huh? I’ve drawn in arrows at the failures to traverse the channels. If you could get in at those arrows you’d make a fortune every single day. The question, of course, is how fast can you determine that a turnaround in price is really going to turn out to be a failure to traverse, rather than a mere hiccup? Well, you can wait for everypush confirmation… and today anyway, you’d jump right on the two down moves within a couple bars of the arrow. There are longer waits before hitting the up moves so depending on your sensibilities, you’d skip them.

Here’s my chart from today. Pretty nice looking, no?

Pretty cool how price often (but not always, I know) moves about 2 to 3 math lines at a time…. and the everypush paintbars help you catch…. wait for it… … every push. Especially in combination with a contextual chart and the volume splitter, I think it looks pretty good!

Actually, if you are curious, here’s the contextual chart I used… you could also just trade it if you had the guts to use huge stops:

I think it’s neat that I’ve been using basically the same chart on futures and on my stock demonstrations lately.

You all should feel free to suggest stocks.. I know I still owe Quentin a volume-splitter screenshot, but I’ve just been too busy to get it on my screens in the morning and leave it to collect the data. Anyway, I picked Apple Inc (Nasdaq: AAPL) today because it was the top stock mentioned today on stocktwits.

Same critera as the last few days for picking entries. You can see we ride the move down, then hop on again in the afternoon a bit late to get much more. But, at least it tried to hop on again…

Not bad!

Stocks Mentioned In This Article
Stock	Links
AAPL	| |

I’m playing with some code for auto-trendlines. I wanted something based on my (minimal) understanding of the Jack Hershey-esqe style of drawing trendlines. I whipped this up in about 20 minutes, so it’s far from perfect, but I am trying to see if I can eventually get something usable in the auto-trendline genre.

Here’s a Mosaic Company (NYSE: MOS) daily chart:

Here’s a fast 2584-contract S&P500 e-mini futures (ES) chart:

One of the most basic methods of trading these, as I understand it, is to look for a place where price “fails to traverse” the trend channel, and then take the trade opposite that trend. That’s extremely simplistic, though… because basically, any double top in an uptrend would be a failure to traverse the upward trend channel, and thus an opportunity to get short. Make sense? Anyway, just thought I’d post some early pics.

Stocks Mentioned In This Article
Stock	Links
MOS	| |

Here’s the last two days of the Mosaic Company (NYSE: MOS) using the current version of the simple stock system demonstration setup. I just want to highlight how well a couple of my eotpro indicators can do on intraday stocks.

Why the last two days? Well, I accidentally annotated Friday, before realizing that I needed to refresh the data. Oops! :-) Anyway, it’s nice to see that I’m not cherrypicking the days, either… so I just showed both. It did well, as usual!

You can see that the two days were very different. Today was a relatively flat, low volume market day, and that’s definitely reflected in today’s MOS chart. The simple demonstration system basically urges you to buy all day as it drifts up. It’s a nice call! Note that a human probably would know to get in on the obvious long in the morning, but this system does not allow me to put an arrow on the second green bar. So be it! Recall, the current rules for entry are:

• Volume chart chosen based on 30-day average volume.
• New push on the everypush paintbar (first red or green bar)
• Volume pressure on b/a-histogram is up for long, down for short. Not positive whether I care if it’s rising or falling yet…
• Closes above the cycleMA for long, and below for short. Candle body must not be touching the cycleMA… candle wick can be touching the MA… that’s still ok.

Stocks Mentioned In This Article
Stock	Links
MOS	| |

I just did Chesapeake Energy CP (NYSE: CHK) on Friday, so I thought you might like to see how it did today. Ok… so also it was already in the workspace when I opened it up, and I was too lazy to look for another stock to do. :-)

Looks good!

Once again, the current (in-progress) entry rules for this simple demonstration of eotpro indicators on stocks are:

• Volume chart chosen based on 30-day average volume.
• New push on the everypush paintbar (first red or green bar)
• Volume pressure on b/a-histogram is up for long, down for short. Not positive whether I care if it’s rising or falling yet…
• Closes above the cycleMA for long, and below for short. Candle body must not be touching the cycleMA… candle wick can be touching the MA… that’s still ok.

Stocks Mentioned In This Article
Stock	Links
CHK	| |