Wolfe

[bubba]

i found this pic of a WW on ebay.(someone selling a WW indicator).
anyway, do you consider it a WW? if so, how would you play it?

thanks

[bh_trade]

I hope the someone selling it goes by the name of Clyde Lee because it sure looks like his indicator from a few years ago.

	Quote:	bubba
	i found this pic of a WW on ebay.(someone selling a WW indicator). anyway, do you consider it a WW? if so, how would you play it? thanks

[waveslider]

Not technically, because the #3 pt. is above #1, but who cares - it worked. You have a good eye for them hubba bubba. All we're looking for is a failed pattern, in this case a failed descending triangle. Wolfe adds the price target for the failure.
It's usually hard to find a true ww on a trending day. I think it's more likely to see a failure like the one you found.

[waveslider]

Sorry, that was regarding bubba's post of the ES chart. Whats that weird red bar covering a critical pivot point?. Looks like a junk indicator, number 2 point is wrong, and it looks like the #5 point never actually met the upper red line.
I think it's hard to code this indicator. Probably the best would be jan arps, I think he calls them fox waves or arps waves, duh....

[waveslider]

Clyde lees was ok but not accurate either. It misses the good ones.

[waveslider]

Here's one of the most useful tools I have seen for visual trading, all credit goes to Hamfon on TS forums..
It displays lines connecting highs with highs, lows with lows. I'm just startgin to play with it...

http://www.hamfon.com/daytrade/HamFonMovingTrend-I.eld

[bubba]

i have a WW indicator - think I found it here actually. but, it's not dependable
as i'm sure you guys know. it will find some, but plots some awful 1's too. i've been working w/ the trendlines-auto in TS. it makes for a messy chart, but seems to help me recognize a ww in the making. actually, i 'seeing' them better nowadays.
thanks waveslider, for the indicator

[bubba]

would like to hear what you guys think of this one. very high time frame..
i thought it was interesting.
* have another question plz. when you say "just looking for a failed pattern", is it the failure of the
2-4 trendline after point 5?.. meaning, the break out of the wedge? if so, does this mean you don't
take the entry at point 5?

sorry - i kinda barged in yalls thread. i'm merely a novice, wannabe thusfar.

[Tasuki]

bubba, feel free to barge in any time! Regarding the "failed pattern" that waveslider mentioned in permalink #103, the pattern is the wedge formed by the trendlines from pivot points 1-3-5 and 2-4. When that wedge fails, we take the trade in the direction of the failure.

The chart you posted gives a perfect example. You have the 1-3-5 line in red and the 2-4 line in blue, and the two lines form a rising wedge. If/when that wedge breaks to the downside, we take the trade.

For future reference, bubba, please include all necessary details of the chart you're posting:
1) contract name (or symbol, if it's a stock)
2) timeframe (or tick-frame if its a tick chart)
3) X and Y axes--at least you did get these into the chart, but I still can't figure out what contract or timeframe.

It's a courtesy to your TradersLab friends to tell us what we're looking at--many of us like to pull up the chart on our own software platforms and see what else we can see---sometimes that can be very helpful both to us and to you, if we report back that we've found something interesting.

[bubba]

thanks Tasuki,
here's a better shot of the chart. for some reason, i felt i needed to conserve
screen space on the last 1.
* notice the display reads "1765 vol bars". in TS2000i, this =
176,500 vol bars. at least thats my understanding.