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If 10 traders look at Market Profile, they will all see the same key locations. If 10 traders try to draw some Fibonacci confluence zones the chance is high that most of them will get different levels. That's what i meant.
In my trading plan i often fade a key level as they provide the most reward. Pivot S2 was a good case yesterday on the ES. You can be wrong many times if you take a trade at an extreme. The need for additional information is understandable but there are limits. Many times it's preferable to take a risk without this additional information.
Can you help answer these questions from other members on NexusFi?
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Thanks for the great information. I do not understand the trigger line statements. Which indicator do you use for the trigger lines?
Are you using the Keltner indicator to get the Upper, Middle, and Lower Bands?
LineReg(80) and EMA (LinReg(80), 20). EMA is comparable to signalline of MACD.
Small Trigger Lines
LinReg(20) and EMA(LinReg(20), 5).
Bands
With ChannelThis you can put a variety of volatility bands around a variety of moving averages. Standard Bollinger Bands use a simple moving average of the close and the standard deviation as indication for volatility. Standard Keltner Channels use a simple moving average of the typical price and Wilder's average true range as indicator for the volatility.
The version used here is probably a modified Keltner Channel, using an exponential moving average of the typical price with a period of 55 as centerline and then adding volatility bands based on 3*ATR(55).
I have not tested this. I personally use modified and smoothed Keltner Channels with a shorter period.
Let me also add that the settings for the channel are the exact duplicate of what NexGen use as well as the settings for the trigger lines. You may want to modify these settings but using them as defined on a 1210 tick chart for the ES you will get a good framework to read price action. The actual settings with 1210 ticks per bar give almost the same value you would get from Market Profile (30m timeframe) for the Value Area High, Value Area Low and oftentimes the Developping POC will match to the tick. Also, you need to take into consideration that the settings is coherent with the whole framework. When the MACDBBLines hover around the zero line, when price crosses the large trigger lines, when price closes above the MidBand, your directional bias should be fixed. You should know what direction to place your orders. These indicators cooperate and reinforce each other. That's what you get under the actual settings.
You might also use the sling shot indicator as a replacement which is in the same league but i prefer the trigger lines as i am used to them.
Too much guesswork. I use Keltner Channels with a period of 33 and a displacement of 1 bar, because I do not want that the current close has an impact on the location of the channel. Then I smooth with a simple moving average just to please my eye.
funny this is here i got to see them live last Tuesday Wednesday. I read the thread it does not matter what they use in my opinion, if they can not show how they make money live with their map process . All I saw was a guy talking his lungs out about complex ridiculous concepts each morning CT, BT, last op trade. I have not seen a trade while the tape was showing decent ranges for 2 days.
Is the eminiacademy.com worthless or a scam I do not yet and do not care, but what i saw was not re-comforting and felt like i wasted 2 mornings even though they sound cool and their operation is commercially pro but did not see one pro trade live there