I LOVE IT — STARC sounds like some CIA offshoot, out there protecting america from the evil short sellers, or something !
but the reason i like it is kinda simple —
for many a year now i have used QUOTETRACKER charts (free if you trade with ameritrade btw, and awfully cheap otherwise, although it costs 55 bux a month for the data feed for forex (which is cheap, btw)
now QT does some pretty high end stuff, and some of that is AUTOMATICALLY draw my LRC’s from the largest (which we call the SHI channel) down to whats happening on a tick by tick basis)
THIS is a tremendous advantage while trading and especially while scalping, and its one i cant seem to solve with MT4 at the moment, SO ---- while there are some shortcomings (that can be worked with and altered with differing values i would imagine) the STARC (still think it sounds like a stealth fighter or something) bands “immitate” my auto LRC on the shorter term trades.
they are like bols, in that they are redrawing (especially when hit and then violated) and you can then move to the next higher timeframe to pick up where they failed, BUT THEY HAVE A LOT OF PROMISE as ultimate s+r points and are worthy of some attention, once taken close to the busom, wined and dined and invited home for an aperitif or four !
Like all things new, it will take me 27 more minutes to analyze fully and write a 400 page PDF, but dinner is ready so my mind is not on that and the McG’s are NOT expected tonight, so just maybe . . . . . . . . . . . .
MP,
Starcs…hmmm… sounds a lot like Tymen’s tools. The impression I got from the little drama session a few pages back was that you hated the guy. Suprised to see you adopt his tools
Anyway, I hope you do not think I am jumping ship. While I enjoy and will continue to learn and hone my abilities with the free form trading style that your wisdom offers, his mechanical system stimulates my left brained trading needs.
Plus the fact that I stick with EU only for “market trading”, I can easily take a look at the other majors and try and make some more pips since that is what the game is all about
BTW, I am long on EU Since 1.2700, Since today was the day of the “S’s”, I think tomorrow will be the day for the “R’s”, heck we are already at R1. I am looking for R2 though
STARC! hey pretty neat… VT trader has got the STARC aka �Stroller Average Range Channels� and they look pretty cool. You know when using bollinger bands and a lot of time the bars seems to drag along the inside of the bottom band or just under the top of the band and it take 2 or 3 bars before you see the reversal? It looks like Mr Stroller�s bands bounce a little better than BB bands
FYI I cut & pasted the STARC description from VT Trader
Stoller Average Range Channels
(STARC Bands)
Overview
The Stoller Average Range Channels (a.k.a. STARC Bands) indicator was developed by Manning Stoller in the 1980’s. Similar to Bollinger Bands, the STARC bands are designed to interpret market volatility using a measure of the Average True Range (ATR). The STARC Bands create a channel above and below a moving average of the instrument’s underlying price; the width of the channel expands and contracts depending on the fluctuation in the ATR.
The upper STARC band is calculated by adding a value of the (ATR * ATRMultiplier) to the moving average. The lower STARC band is calculated by subtracting a value of the (ATR * ATR Multiplier) to the moving average.
Interpretation
The STARC Bands are considered to encapsulate the majority of the instrument’s price action between the bands allowing the bands to define the normal upper and lower limits of price action. This helps the trader determine higher probability, lower risk trading opportunities using the general assumption that price often returns to its median (the moving average).
Price action that rises to the upper band offers a lower risk selling opportunity (and a high risk buying opportunity.
Price action that declines to the lower band offers a lower risk buying opportunity (and a high risk selling opportunity.
These assumptions are not to say that the price action will not go against these rules. In fact, some traders believe that a penetration of the upper or lower STARC band indicates an increased momentum in the direction of the band penetration.
Implementation
The ATR Periods and ATR Multiplier as well as the STARC Bands Price, Periods, and Band Type inputs have been parameterized to allow the user full customization of this indicator.
Oh Great. I sense a little foreshadowing here. Are you throwing out your whole methodolgy in favor of something else? That would be so RIGHT brained!
I’m now going to have to start over. <lighting 49 pages of notes, on the MP not so secret secret thread, on fire as I gouge my right eye out of its socket>
On a brighter note you could call your thread…“The Joy of STARC Band Trading”
but with only 24K views, i figured id hotten this place up for youse guys and change the title which would bring in a few hundred thou more AND the women — now i know youse guys would like the women
Tex could “saunter” over and give em that “country boy aw shucks” routine, and you could dazzle em with your engineering abilities and tghere would be peace in the valley !
i had visited starcs years ago while trading equities, but they really didnt do much and/or my trading methods didnt suit them.
while the LRC is still king, and the starcs only show you part of the move, missing a very large amount in intraday trading, ive been watching how they can be imporoved.
my reason for bringing them up is partly cause i snuck a peek at mr. tymans thread, and knowing he would treat them as “box stock” movements, i knew i could improve on them for those who didnt have my auto LRC for intraday, short term trading, so i took a look !
they have a few problems, especially when trading the ups and downs of the intraday market, and agree with the bols on the longer term which also agrees with the LRC, so theres NO improvement there, but then no harm either !
i have little real need of them, as they are invariably short of the mark of a normal move, but they show promise when modified, and i believe that will help YOUSE peeps, and besides becoming filthy rich myself, its what i want for youse !
thinking of changing the title of the thread to “make at least 350 pips per day and then you can open your eyes” or something like that.
much less laggy? Now you got my attention and I will have to haul my butt over to Tymens post and see what the hoopla is about.
Even without going there I have an inkling it is good suit for ya’all scalpers, but me being the patient observer of the market and taking maximum one or two positions in a day after very l00ng studies, I guess I may just stick to the channel afterall, but I first need to see how sexy this baby is!!
hi guys…ive been a silent reader of this thread. I need some one to help me with the LRC. Don’t feel im doing it properly. If anyone can spare some time on YM…i would be grateful. Im on most of the day. my ym is <[email protected]>
I used to subscribe to stockcharts.com and one of the overlays was just simply called �Price Channel�. It auto drew channels based on moving averages. Nice horizontal channels not roller coaster tracks like the bb bands. I liked them a lot…could really see the big ping-pong game! Oops sorry, If I�m to be respected in these parts, I must use the proper forex-speak. I�d like the rephrase that last sentence. I liked them a lot…could really evidence the hesitancy & neutrality of the price action beginning to surface and confidence waning in favor of profit taking/re-positioning. LOL!!!
But yes LRC still the king!
AND long live the king!
