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Stock.Jock
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Posts posted by Stock.Jock
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Good question. I'd like to hear from some experienced traders who use the Wyckoff method, if the trading game that's done in other countries is similar to the game played on Wall Street. I see that SMI offers a different course for trading on the international market, so this aroused my curiosity.
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Tell me, gassah, what books have you read that cover only Wyckoff's method and does not include any SMI materials?
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Yes. It appears that SMI has come up with their own indicators. Anyway, as I said before one of Hank Pruden's articles says the On-Balanced-Volume indicator is like the Optimism/Pessimism Index. Well, in the Investopedia website they have something else to say about the OBV.
I wonder what Dr. Pruden would say about the A/D line, if he read this. Would the Optimism/Pessimism Index be better represented by the A/D line?One of the most commonly used indicators to determine the money flow of a security is the accumulation/distribution line (A/D line). It is similar to on-balance volume indicator but instead of only considering the closing price of the security for the period it also takes into account the trading range for the period. This is thought to give a more accurate picture of money flow than of balance volume. -
Ask Any Wyckoff-Related QuestionSorry, I must be in the wrong thread.
Regards,
StockJock
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HyperTrader,
No, I haven't found anything yet. I have some ideas that might apply to those concepts; however, I don't have confirmation that they are the same as what Wyckoff teaches.
For example I thought the The Trend Barometer is similar to the ADX, +DMI and -DMI parameters after I read the article ADX: The Trend Strength Indicator
The concept of the Wyckoff Wave is similar to using market indicies such as the S&P500, but the Wyckoff Wave uses only 8 stocks. In my trading platform, TOS, I can make a chart with the percentage relationship between the S&P500 and the stock I'm analyzing. This seems similar to what the Wyckoff Wave is trying to accomplish, but again, I have no confirmation on that.
I'm still looking for something related to the The Pulse of the Market.
Please continue looking for the correct answers and if you find something, let me know.
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I have a question on some indicators that are used in the SMI training and I was wondering if there are common equivalent indicators that are available for the same results. For example one of Hank Pruden's articles says the On-Balanced-Volume indicator is like the Optimism/Pessimism Index.
The Law of Effort vs. Results – divergencies and disharmonies between volume and price often presage a change in the direction of the price trend. The Wyckoff “Optimism vs. Pessimism” index is an on-balanced-volume type indicator helpful for identifying accumulation vs. distribution and gauging effort.So does anyone know of equivalent indicators that most traders can use for SMI indicators such as:
1. The Wyckoff Wave.
2. The Trend Barometer
3. The Pulse of the Market
Also would using the On-Balanced-Volume indicator as the author Joseph Granville recommends be the same as the way the Optimism/Pessimism Index would be used?
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These videos might help.
[ame=http://www.youtube.com/watch?v=lThXQvu3z3g]YouTube - How to Draw Trendlines Using the Richard Wyckoff Method - Example 1[/ame]
[ame=http://www.youtube.com/watch?v=STsXRUJ3iAo]YouTube - How to Draw Trendlines Using the Richard Wyckoff Method - Example 2[/ame]
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Is this the PnF method used in Wyckoff trading?
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I see that Amibroker has code to plot PnF charts, but the codes don't adapt to plot the Wyckoff way. There must be something different in the programming code logic between the Wyckoff way and other PnF; because Bull's Eye Broker can do it, but Amibroker can't. At least with Amibroker, the user can customize the code.
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Does anyone know where I can find some examples of how Wyckoff’s Five Steps are used? I'd like to see how each step is applied to making a trade decision with charts and an explaination of chart observations.
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1. What trading platform or analysis program is best to work with PnF charts?
2. Can a 1 minute PnF chart be as useful as a 1 minute bar chart in doing day trading?
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If your new to Point and Figure Charting I recommend that you take the free training at the PnF University.
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I have a data source from TOS. Amibroker and Metatrader can link to TOS by using a DDE. Can NinjaTrader do that? If so, then I can tryout NinjaTrader.
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I know that NinjaTrader as well as MetaTrader are free; however, the data sources are free depending on the brokerage company you get them from. So where did you get your download of NinjaTrader and what broker do you use as a data source? Also does your free data source include stock data? Thanks for the info.
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Getting historical quotes are a challenge. I like to work with 1 minute bars, but historical quotes are generally 1 day bars. Attached is an Excel spreadsheet that downloads your stock symbol data from Yahoo to a csv formatted file. There's one csv file for each symbol. From there you can import the data into your trading platform.
If anyone finds free historical data with 1 minute bars, please reply and let me know how to get it.
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Thank you for your reply with attachment.
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Where can I get the code manual for Amibroker so I can understand its programming commands?
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Thanks for the info.
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I have an indicator code made for Amibroker that I would like to examine for possible translation; however, I cannot open an AFL file. If someone with the Amibroker platform could help me, please open it and save the code into a text file. See attachment. Thanks for your help.
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I have some indicator codes made for TradeStation that I would like to examine for possible translation; however, I cannot open an ELD file. If someone with the TradeStation platform could help me, please open it and save the code into a text file. See attachments. Thanks for your help.
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I have an indicator code made for Amibroker that I would like to examine for possible translation; however, I cannot open an afl file. If someone with the Amibroker platform could help me, please open it and save the code into a text file. See attachment. Thanks for your help.
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Thanks Tams,
All I need is them to be saved as text files for me to study. I have the TradeStation EasyLanguage Manual to help me translate.
Oops. I should have started a new thread. How do I delete this post?:doh:
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Tams,
I sometimes come across some EasyLanguage indicator code that I would like to translate; however, they have the ELD extention and I don't have TradeStation. Is there any other way to open these files for me to examine the code? I usually can do the translation myself, but I can't open files with this extention.
Trading The Wyckoff Way
in The Wyckoff Forum
Posted
Does anyone know where to buy this book? I've searched the internet, the SMI website and Amazon.com, but I can't find it. I'm still trying to get these indicators or their equivalents. Has anyone read it?
This is my attempt to synthesize these indicators. Click on this link to see the chart.