Hello Sword of Management,
I think I know what the Daily Extremes are… Highs or lows of the daily. I do see hundreds of pips in a Daily Candle. What I dont know is how to benefit from that. Like in my pic posted, a new day. How does one even start to go about knowing where the high and or low will be. Is it a calculated guess from the previous day’s extreme?
A range starts out as a minute then hour, day, week, month, & finally year.
If everyone knew that price would fall 1,719 pips from the extreme that they saw on the minute chart (later the year extreme) then who would trade it to you?
A short term position from a daily low has a lot more value than a short term trade from an hourly low.
The lesson of the extremes is to trade as normal but also consider the long term potential of your position.
Pointy places and this thing I call space is what it is all about…we’ll get to the latter.
I really want to get this long term trading. This is my stab at it, my logic, right or wrong, how I think I see it.
We look at last 3-4 bars for extremes?
Close over/under…I think i have got it…with wickdolls, and failed attempt.
Looking at it with the ts indi…it looks like i may have entered countertrend
-dojirock
You really want to use TS on a 1 to 15 or maybe a 30 minute chart.
On a 15 minute chart it could be over an hour before a black CC is printed & around 4 hours
before a red CC prints. 3a/b CC on the same chart would be around 5 hours.
Ah, ok, I see, and it would have given me more supporting confirmation and a better price. :13:
thank you
-dojirock
Hello Dojirock,
many thanks for your posts and sharing, can you post your pictures with a higher resolution? It is hard to read the words.
Best regards.
-guandi
Helo SwordOFManagement,
May i ask what is the purpose of the 3a/b CC?
Best regards.
-guandi
3a/b is a 2xCC :39:
What is a xCC?
When a single custom candle uses 2 periods to form its body then there are 2 possible starting locations (shifts); if you try and make a third shift with a 2xCC then you will end up with an exact copy of the first chart.
When ALL of the shifts are shown on the same chart it is known as a xCC chart.
Here is a 3xCC chart (3 possible shifts, 3 shifts shown):
So, to answer you question :18:
3a/b is a cave man version of a 2xCC of the red trend setter CC.
Coming soon from (coder) jscar:
The plan is to show multiple trends of trends on one chart without having to scroll backwards.
The released version will have the option to show more than what you see here.
I am still very confused about how to implement this method. Are you trading daily? Could you post up a trade you take and how you manage space around it?
You have seen the trees.
You have seen the forest.
Now see the ocean:
It is a compressed TS with multiple trends of trends (consecutively higher/lower closes of underlying/black/red/blue).
You can see hours to years of data on one chart to better plan your position.
ZING!!!
my brain just exploded…
-dojirock:30:
WOW, I am now dead. :30:
I understand the main concepts of trend and intermediate trends, but how to use this indicator?
I’m very happy your finally sharing your Insight/wisdom with the masses Mr. SwordFishManager, but remember, this IS "baby"pips after all. I’m not sure they can Immediately jump to the stars or heavens without first jumping up onto an end table. LOL
:30:
Okay I finally understand all of this space shenanigans, and even though managing space may be the most important thing to you, someone still has to learn to trade before they can utilize this method of reinvesting profits. I would love to see the profile, or trade history of someone who has used this to exponentially increase their account, because frankly it would be cool.
And whats all this trendsetter business about: what if I subscribe to the notion ‘body in the direction of profit, wick in the direction of loss’, show me the damn wicks!. Or since the indicator is combining directional candles it is easier to see if it closes above or below…something.
Someone still has to learn to be a profitable trader; even subscribing to your above or below something idea could have someone entering a trade but then it hits their if then so they close out, and it can be tough… as much as the technical analysis might only be 10% it is the toughest to learn, because everyone is trying to have a system where they can take profits from the market but not everyone can.
And who wants to take a trade to only be knocked out at ‘Line on Sand’; thats just a waste of…space.
Think of it as the last time you will ever switch chart periods.
It is much the same as 4 normal periods on one chart only each higher period is the 2 body trend of the last.
What is awesome is that the bodies are all at the correct price levels; if you see a swing in blue that is 270 pips higher it is because the swing was 270 pips higher at that exact price level.
All that you need to do is scale fix the chart so that you can see the charts that go off of the screen.
If you still don’t understand then look at post #3 as this is basically the TS without the gaps in CC.
