Hello, In order to use the setup parameters to effectively yield similiar results, one must setup, monitor, and record the same data. I notice you have the Chaikin Oscillator which has been discarded for the CCI. Use only the ADX itself, and block the DMI. Here's why the simpler the better. The DMI being on ones screen could lead one to misinterpret or have paralysis by analysis. The visual aspect of it being on ones screen, will eventually lead one to want to utilize it. I trade using ADX, as it is the best indicator I believe for gauging trend strength, up or down. Unless one has specific setup criteria using DMI, why have it plotted? Since what is offered here doesn't, it's worthless and a distraction. Since the opportunities are on the lower frequency side, being able to take all the trades is paramount to achieving the maxium gains. Missing one or two, or even three trades could diminish returns substantially. I add this as an aside, as one never knows which trades will produce the average win, average loss, or one of the outlying winners. So each trade is very important, both individually and collectively speaking. Please don't misconstrue the intent of this mesaage. It's only meant to help derive the best of what is apparently, a very viable strategy. Good Trading and God Bless! Kelly
i reread the previous thread and this thread a second time. this time around i looked at the charts more carefully and tried to replay each scenario live. it sure seems that there isn't a clear measure of divergence. it is easy to see after the fact when he draws the yellow lines to show divergence. but if you were trading it live, how would you know? in many of the trade examples, if you measured your divergence using a shorter time frame, you would actually see a parallel rather than a divergence. are there clearer rules to measure divergence? this will make all the difference.
I don't think nopp indends on trading a trending day. By his definition there are very few trending days a month (1-2 or 3). He certainly has enough setups to deal with using this method.
Short of someone actually pushing the button to make the trade for you, everything has been explicitly layed out in exquisite detail by npp and others in the original thread and this one. Try and learn the logic behind the system and play with your indicators till something talks to you. Divergence trades work off *any* momentum oscillator in any time frame. You seem to be a newbie, why don't you try putting in some real time screen time and find a combination that you feel comfortable with.
Jerryz, beside the problem of setting the indicators to match those of NPP. What you are facing with divergence is the "hard right edge" syndrome. Everything is simple reading a chart at the end of the day. You need to learn to read a chart when it's shaping. That comes with experience, experience wil give you confidence. This sys gives you enogh time to spot those divergences. I can only suggest you to simulate a market session and never looking at a chart completed. You'll learn how to see those freaking divergences. Anyway I see you are a persistent SOB, so I'm sure you gonna make it Good luck with your efforts Edit: You can try and ask to Medved staff to give you those parameters to match NPPs. If you inform them of this thread and the big success it's having, I'm quite sure they'll help you.(it's always a positive ad for them) Don't forget to post them here and to subscribe to QT
Not trying to add noise to this thread, but I also trade a simple trend following system off 60 min. data. Should take about 5 min. to code up and backtest for those interested.
The ADX has just crossed above 30, however there won't be any trade here because this is just a continuation of yesterday's trend up move (of which the method would have already triggered a trade). The ADX will have to quiet down or the market trend down before I'll be looking for a trade.
if this sys is as good as the other one I'm gonna take back all the bad things I said about lack of generosity in human race Gonna study it
I understand that you use Parabolic after the opposite Keltner is touched. What if the Parabolic is reached first, do you exit? An example is today's gold market. (I will learn how to post a chart, but not today). Thanks.