This comes from is an entire thread devoted to this method.
The Wizard produced the following on a 1-year backtest for YM (4-tick MedianRenko):
$231K Gross Profit (almost $164K after commission assuming $5 rt)
close to 13,500 trades / 37 trades per day (hope to reduce it w filters to minimize choppy trades)
66.2% win rate
Trade Size: 1 contract/trade
Profit Target: 25
SL: 15
I believe the following filters will make this strategy a very profitable one when running live:
- minimize choppy signals and
- adjust the initial 15-tick SL to B/E when the trade starts working
This is a linear undecimated Haar transform implemented via lifting.
I had intended on posting this indicator here a while back but at the time I was getting swamped with questions about the particle oscillator and I didn't want …
This is a linear undecimated Haar transform implemented via lifting.
I had intended on posting this indicator here a while back but at the time I was getting swamped with questions about the particle oscillator and I didn't want to add fuel to the fire considering that this indicator is significantly more complicated with a large number of options and different ways it could be used.
I made two annotated screenshots that explain the basic options and some background on wavelets. The third screenshot shows a time decomposition as well as another colorscheme.
I don't mind fielding questions about this indicator or wavelets in general but please try and ask good questions, ie not 'what settings do i use for intstrument xx'
While this indicator can be used 'as is'.. I would still encourage any who are interested in wavelets to read up on the theory behind them and how to construct other wavelet transforms via lifting. The more you understand wavelets the more useful they will be for you. A good place to start learning about more advanced techniques would be to research nonlinear transforms commonly used for 'edge detection'.
Volume/Stochastic/Reversal Bars
wanted to go ahead and share something that Big Mike wrote for me that may help you in your trading. This indicator utilizes Volume, Stochastics, and Reversal Bars, to plot out potential reversals in the market.
I have found that it works especially well with Range Charts. I will say the Volume component has to be tuned down under 1.00 or a lot of triggers get filtered out. Probabably some enhancements could be made in that arena.
Caution should be taken on Trending days as a lot of false signals will be generated. It is best used as a supplement to other indicators.
Hey Elite Circle Members!.. I wanted to go ahead and share something that Big Mike wrote for me that may help you in your trading. This indicator utilizes Volume, Stochastics, and Reversal Bars, to plot out potential reversals in the market.
There have been some recent additions to the forum as far as indicator toolsets. I thought I could start a thread where people could post their favorite combinations of these tools and templates to share with the group...
Please post a picture, brief …
This one has -
slingshot
stepmaSharky
OBV Diver
TripleEMA Dots (sharkys variation)
d9 PhaseShift
This uses the classic several indicators showing different things but confirming mantra -
ma stuff, price with detrended price(cycles), volume
partyPack has all the indicators. Just import with ninja utility.
The d9 Phaseshift is a variation with colorbars and cunparis' S/R lines (nice job cunparis)
To me simple is better..... I don't want to look at too many indicators. Besides, all indicators are doing is telling me is what the price is doing so.... why not learn to read price action? Some of the tools that help me do this are the 50 EMA and the 14 HMA with Sharky's ECO bars and a swing high/low.....that's it. Knowing what time of day is best to trade is also very helpful. 85% of daily price movement happens in the morning. So, for what it's worth.... here's my 2 cents. Check it out and let me know what you think.
This version of Ninja's Bar Timer will work with NT7.
Code will not work on NT6.5.
v3 Some Minor alterations and code tidying. Jan 24 2011.
v Forum Major change - now use Ctrl + Numbers to move clock around chart - see Notes inside code.
There is a video review ( 2 mins) here.
Update 8 Jan 2013. Corrected minor Font serialisation issue.
Features
Shows Clock and Bar lapsed time.
Alerts can be visual or sound based ( or both).
Clock works independently of OnBarUpdate().
The visual alert can 'flash' the whole screen, the clock area or just the text from a user defined interval before the end of the bar.
April 20th, 2025 12:49 PM jrs659 still on 7 thanks
December 20th, 2013 02:46 PM Jonson big thanks!
May 13th, 2011 08:24 AM cw30000 Mindset,
Very nice indicator.
Is there an option to set the alarm sound to have the same property as the flash? It only sound off at the end of the ba
r.
Thanks
March 24th, 2011 06:52 PM jrayroc Thank you!
January 26th, 2011 09:27 PM fusion The indicator provides options for user to choose preferable alert duration, display type and flash type. It's really ni
May 8th, 2017 10:13 AM moneypenny Mike - This indicator has made more difference in my trading than any other so far! THANK YOU!!!!!whoo:
January 10th, 2016 07:01 PM bobc635 Thanks Mike.... looks very nice. Playing with PnF on CL futures. PnF seems to give a better look for my eye... I am l
iking it.
Bob
October 16th, 2014 10:20 AM ShaunG I am not a hundred present sure how it work's Mike! Sure is a thing of beauty! Thanks!
October 6th, 2014 11:37 PM TakingStock12 Very nice indicator Mike! Very helpful -- thanks!
February 2nd, 2011 01:48 PM minsalaco Mike: I've loaded the Wave Indicator but looks different from your four screen shots in that the entry and exit indicat
ors that are below the price action are missing. For this indicator, what are you using for entry and exit points? Is
there another indicator I should be using with the Wave Indicator? Thanks in advance.