I don’t use standard stoch, but I will have a look at DiNapoli anyway
Yeah baby!! I’m a convert of the “20” xlv4!!
Found a DiNapoli strategy that also uses a WMA crossover
arrow.
If you know what you are doing ( only trade with trend in direction
of higher TF ) it seems remarkably accurate
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Hey @Jerome32… Quality, informative thread you have running here… Glad to be of help…
From memory you’ll use the 8,3,3 and overlay the signal(?) line for best results…
Jeepers. Talk about complications!!! LOL!!!
Can somebody, anybody, just tell me which platform this is and what indicator that is (the thick line at the bottom of that Gold chart that changes color).
Seeing as I am flat at the moment I have time to play. And from what I am seeing that thing could have two very different but profitable applications on its own
Hey @dpaterso, It’s the DiNapoli Stochastic Signal line with the XLV4 Indicator overlayed on the D1.
DiNapoli Stochastic (8,3,3,Curve 10) (Above)
DiNapoli Stochastic (6,3,2,Curve 10) (Above)
Edit: False signals dialed out by tuning the settings… some serious pips on 95%+ of the signals.
Surprisingly accurate, If you know what you’re doing.
I cannot see any signal line in the pic. But what I do see is how that thing would perform with my core trading system’s method of entry.
Which platform or charting software is that (I most certainly don’t have any Dinosaur Dino Stochs. on mine!!! LOL!!!)???
Jerome is using iTradeaims Proprietary Platform, I don’t know it.
The “Dinosaur Dino Stochastic” is underneath the (XLV4) Coloured Slope Indicator…
It’s a more accurate Oscillator than the Coloured Moving Slope so the way it’s applied in Jerome’s charts is it uses the “DDS Indicator” data to draw the XLV4 Coloured Moving Slope…
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Pity. I just looked there. Doesn’t help. I don’t want to know THAT badly that I have to pay for the privilege!!! LOL!!!
Damn sure I’ve seen this before though. Seem to remember that exact same indicator being on ThinkOrSwims’s trading platform some many years back (friend of mine traded Options with them).
cousin how much have you made so far since the beginning of your journal?
( - $300 approx )
I’ve got a bit lost in some of the interchanges, but I don’t use
’Itradeaims’ platform, they don’t have a proprietry platform.
I just use bog standard MT4
Their proprietry AIMS boxes are simply a helpful way of viewing
Fractals, which I’ve never really found that profitable. You can
buy those boxes for £3 independently of AIMS
But they also have modified Bill Williams’ Alligator to include
’Purple Line’
this represents the Green of Gator on the 5 x Higher Time frame
and I think the Green is MA 20, not certain about that, nevertheless
I do still use purple as a quick guide as to whether I am under or
over 20 on the HTF, and thus trading with trend or not.
COLOUR STOCHASTIC 10 3 3 is quite good, its what I’ve been using,
you can pick this up anywhere. I just like it visually, but so far I
would say the DiNapoli has the edge
In fact I have just changed my colour stochastic to 6. 3. 2 as suggested
by TWB and it is definitely an improvement
but 6,3,2 colour stoch or better defined cross of 6.3.2 DiNapoli?
The jury is still out, they both do a very similar job, its just what
works best for the individual trader
and whilst I’m editing my edit, I will add that using DiNapoli 6.3.2
when price closes out of and then back into a wide open
BB, would seem to be extremely profitable
but TWB adds a criticallly important caveat that applies to
all these options …
‘if you know what you are doing’
A far better system is to spend thousands of hours improving
your chart reading skills. I don’t believe there is any susbstitute for that.
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This is an excellent point! Having a better understanding of what the chart “saying” is critical. There is a lot of information in each candle/bar and even more as you look at groups of them. I think indicators paint a different picture of the same information that can make it easier to understand for different people.
It’s all lagging information - even PA - “You can never step into the same river twice” - But the impact of the lag depends on the time frame you are trading.
Tx @Jerome32 for posting the details of your journey from demo to live! It’s been an educational trip for me - a real learning experience!
KC
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This thread started off really well, focusing on Engulfing patterns.
I would still put a lot of store on such a pattern, especially at key
levels of S/R
Everything I’ve ever written over the last 20 months regarding
Price Action I still stand by.
Where this thread has gone silly is where I infatuate a magical
combination of ‘infalllible’ repainting indicators that has 100%
success (in hindsight)
So how can you make a million dollars with the right combination
of repainting indicators?
Allow me to give you a masterclass ( which btw is quite convincing
looking back in hindsight )
First we see price has gone well below the Bands and it will
ALWAYS revert to mean ( really?) and of course, you
can bet your life price will always revert to that colourful
nose of Market Profile indicator. and of course we have the
confluence of that mother of all repainting indicators, the
white harmonic arrow
and of course the XABCD Harmonic patterns do actually
work out sometimes
but thats only because price does indeed sometimes go up
or down
and how long was I deluded by that STR window, and note
below that perfect STR line crossing right up through zero
line
It never happened in reality!
It is all utter and total BS!
Beguiling BS I grant you, but it is just chasing after the wind
I have trialed several other indies but most of them at least had
some merit.
but the ones I most obsessed over were the ones that never
seem to lose historically, the ones that rewrite history to put themselves
in a favourable light, or repaint as we say.
One or two reliable non repainting indicators may help to put the
price action into a context
Lets say that price keeps respecting 20 MA or an established
Trendline
These are merely visual aids that contextualize the Price Action,
they are not predictive in themselves
This ties in with the whole concept of trading in the zone
I lampooned myself recently for taking a trade because it ‘looked
like’ it would win, despite no set up
but actually you do recognise a really good set up.
The Gambling Adage is so apt
Don’t go looking for bets, let the bets come looking for you!
An outstanding set up screams out at you. You can hardly
miss it.
All we have to do is wait for them to appear
Several indicators, especially repainting
Are your False Friends, as we see in the SC below
LMAO!!! So True!!! I’ve gone down the same rabbit hole!!
Exactly! This is what I believe and have been saying but not as eloquently. I had a mile long list of indicators that I downloaded and have ended up on the trash heap. The primary ones that I use now are ADX sans +/-, sheved_supply_and_demand for confirmation of zones, and fibs (these don’t stay on the chart). These with s/d lines and bushels and bushels of patience!
Patience is a virtue but is also very hard to corral and ride!!!
Great post, Excellent screen shot - I am sure you will be receiving the question “How do I set-up my charts like that?!” and asking for a list/link to all those inicators.
Honesty is the best policy!
Big Thanks @Jerome32!!
KC
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KC, I thought exactly the same! a ton of enquirers
completely missing the point. Yes, even i thought
it was a great looking template. You could easily
market that system template.
Imagine if selling repainting indicators carried a ten
year jail sentence, that would shake things up a bit,
if all systems were then really as good as they looked
but my indicators above always get it right! They truly
have a marvellous strategy! They wait until the
price makes a big move, and then they pretend
they were alerting you to that move before it happened
But they didn’t. They have no predictive ability whatsoever.
ADX is actually one of the better indicators, without modification,
when green crosses red supported by appropriate colour of
signal candle, is very effective indeed
credit to Las L - the guy has real aptitude for patterns, all his
100+ video strategies work but this one of the better ones.
Not familiar with him. Is that the correct spelling?
Hey.
Well first (and re: my “analysis paralysis” comment on that other thread): my apologies. NOW I get what you were trying to say.
Second (and more important):
This not directed at you so if you know what I’m talking about then skip this. BUT: there’s a pile more to ADX than just the two DI lines. As but one example the actual ADX line is uncannily good at indicating the end of a move. If you take a look at my TPS thread there’s a download link to Wilder’s book there which explains in minute detail. This is possibly the most misused and misunderstood indicator on the planet if the truth be told.
All this BS about repainting Indicators…It’s the reason you utilise Data from more accurate Indicators to steer the direction of a superior visual Indicator… It wasn’t repainting for the 5 days of the previous uptrend…
You have had 3 days warning (420 pips) from this so called “repainting” Indicator setup that price is heading south and this includes confirmation from the Price action.
As someone said to me over the weekend…“An Indicator of an Indicator”…
Simple strategy… 250+ pips had 48 hours later…
Above - Chart from Friday 28th (XAUUSD D1)
Above - Chart from Monday 30th (XAUUSD D1)
So, before the usual suspects start throwing toys from the pram…This is not “my” Oscillator displayed on this Chart… It’s the DiNapoli Stochastic… Instead of the cross of the stochastic which at times is hard to visualise… It’s just an overlay simplifying the data from the DS Indicator…
One clean concise Indicator on a clean and concise Chart…So so simple…
Unfortunately some traders in here couldn’t make a dollar out of a Bank heist… So busy looking for the next best thing or complicating their strategies with Intellectual pretentiousness…
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Now that’s funny!! LOL!!!
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