[Ranger]

Statsign

thanks for the modifications - glad you were able to help chloe.

Ranger

Originally Posted by statsign »

added inputs for session times

{plots previous day hi/low/close - open {x} out below}
{plots camarilla lines}
{rev date 07aug09}


input: Sessstart(1803),sessend(1615);

variables:
Var0( 0 ) ,
var1( 0 ) ,
var2( 0 ) ,
var3( 0 ) ,
var4( 0 ) ,
var5( 0 ) ,
var6( 0 ) ,
var7( 0 ) ,
var8( 0 ) ,
sessreset( false ) ,
camarillareset( false ) ;

	
sessreset = t = sessend;
camarillareset = t = sessstart;

if sessreset then
begin

var0 = var0 + 1 ;
var1 = var2 ;
var3 = var4 ;
var5 = var6 ;
var7 = close;
end;

if camarillareset then
begin

var2 = open ;
var4 = high ;
var6 = low ;
end

else
begin
if high > var4 then
var4 = high ;
if low < var6 then
var6 = low ;
end ;
condition1 = var0 >= 2 and bartype < 3 ;

value10 = ((var3 - var5)*(1.1/2)) + var7 ; {h4}
value20 = ((var3 - var5)*(1.1/4)) + var7 ; {h3}
value30 = ((var3 - var5)*(1.1/6)) + var7 ; {h2}
value40 = ((var3 - var5)*(1.1/12)) + var7 ; {h1}
value50 = var7 - ((var3 - var5)*(1.1/12)) ;{l1}
value60 = var7 - ((var3 - var5)*(1.1/6)) ;{l2}
value70 = var7 - ((var3 - var5)*(1.1/4)) ;{l3}
value80 = var7 - ((var3 - var5)*(1.1/2)) ; {l4}

if condition1 then

begin
plot1( var1, "y-o" ) ;
plot2( var3, "y-h" ) ;
plot3( var5, "y-l" ) ;
plot4( var7, "y-c" ) ;
plot10( value10, "h4" ) ;
plot20( value20, "h3" ) ;
plot30( value30, "h2" ) ;
plot40( value40, "h1" ) ;
plot50( value50, "l1" ) ;
plot60( value60, "l2" ) ;
plot70( value70, "l3" ) ;
plot80( value80, "l4" ) ;
end ;

[Ranger]

@ Blow Fish “Tact is the art of making a point without making an enemy.” Sir Isaac Newton.

@ Chloe - awesome that StatSign made that mod .... that should work.

@ Tams - Nice work on all your contributions ...

[chloe31]

Ranger,

Many thanks, you are a very nice person. I will try to understand the modifications made by Statsign.
So, thanks to you and Statsign.

Thanks also to Tams and Blowfish who tried to help me to become autonomous using EL coding (but it is not very easy).

See you next week
Regards,
Chloe

[BlowFish]

Originally Posted by Ranger »

@ Blow Fish “Tact is the art of making a point without making an enemy.” Sir Isaac Newton.

Indeed. However when the tactful approach falls on deaf ears then you have to be more direct. As Tams pointed out the advice in posts 2 and 3 still holds good. If you read the thread from the start you will see my posts where pretty 'tactful' and the first one that was remotely critical was explaining other peoples reticence to help further.

Trading is a tough business at the best of times. I wonder whether I do people a dis service by being too tactful. I miss DBPhoenix's posts he used to get to the heart of the matter without much molly codling. I am probably far less blunt than Svensa or even Tams (I mean that in a good way) but it is always hard to tell people things they don't want to hear. There is an awful lot in trading that we (and I include myself) do not want to hear let alone accept, there is not much room for tact in those instances.

Anyway Chloe is still talking to me (as are you so far!) and I am pleased about that

[Ranger]

Sunshine

I read the posts; I reviewed the links as indicated; I downloaded Tams indicator; (it didn't work on the initial configuration; the code looked sound(Tams does awesome work).

Anyway, other fish to fry ...

any ideas on scalper exits or do we accept what others tell us - use a 4pt stoploss on e-minis.

[BlowFish]

The good thing about pivots is they adjust for volatility based on the previous days range. The bad thing about pivots is that they adjust for volatility based on the previous days range. That means that they are great a lot of the time but after a break out of a narrow range day they are too narrow and after a wide day they are way to far apart. On a break out day you may hit R3/S3 after a wide range day you might want to use mid points.

Why all this? Well one of the 'classic' ways to trade pivots is to use the lines themselves as stops as well as targets. They have the advantage of adjusting to the previous days range. S1 is probably too far away from a PP entry for scalping though You could perhaps use mid points of even the 25% point. This gives a passing nod to volatility.

Price action confirmation works OK with pivots too (take a PA based break out at a pivot line) with a stop outside the previous swing high swing low. Pick a suitable bar size for how 'scalpy' you want to be.

One thing I have noticed in the past is that you very often get a reaction of a point or two off these lines even if they subsequently break. I have a hunch you could come up with a fairly high probability 'scalp' strategy that capitalises on this though it might not be active enough for some people.

Just a couple of ideas

I have quite a fondness for pivots (though a while since they have been on my charts) and if you add a bit of longer term context (from the last few days) they can be pretty effective.

[symmetrics]

you may also need to get data where you can use intraday 1min to convert to a daily , where you time frame you mentioned can be manipulated to a trading day

i have done this due to the overnight time contraints , pivots have many types of claculations, i think you also need to specifiy what platform your trying to program up in too OR are you programming it yourself ?

there are forums which will have done alot of work already in certain platforms . e.g tradestation miriads of free work indicators already done.

anyway i think what some fo the guys are askign for is place soemthing in the fourms which help others, you may be talented IT person, so maybe post somethign on computer systems, hardware etc....

anyway good luck

[Ranger]

Thanks for the input Blowfish.

I'm using dynamic breakout levels ie SwingHi/SwingLo of a moving average function. What's nice about breakouts on a dynamic basis is that they tend to be market head fakes, if there's not enough strength behind them ... so, if it's not breaking out; then it's reversing ..... so, I have a catostrophic stop and likely will use some type of dynamic fibnode calculation for reversing my position.