Anyone use my method?

Has anyone used data feed from interactive brokers (IB) for nopm's method? I am trying SierraChart.com product to get intraday chart, but CCI and ADX charting do not look right. Thanks.

 

Ilango,

The chart your posted only showed that the second divergence is a real one. The first is not divergence from what I can see.

And the second signal actually generated a profitable signal.

 

why the first one is not a divergence?

I can see lower low on oscillator and higher high on price.
And I'd say the first one was even very clear compared to the 2nd one

Care to explain ?
TIA

 

Does anyone use this method for trading the YM, or is it specifically for ES only?

Thanks all.

PS thanks nopm for sharing too.

 

ilganzo, what are your settings for the Keltner channel? I put up the ES chart for that day and my chart does not look similar to yours, are you running a 24 hr chart?

 

Keltner channels are set to 20 periods on my 5min chart.

 

Doesn't match mine either. It looks the same if the bands are set to 100% rather than 250%. I have dropped Ilganzo a PM. I hope he will reply here instead.

 

You're right, my eSignal formula calculates bands using the average H-L. It doesn't have any multiplier to adjust the bands.

Code:

...
for(i = 0; i < nInputLength; i++) {
    vHLC3 += (vHigh[i] + vLow[i] + vClose[i]) / 3;
    vHminL += vHigh[i] - vLow[i];
}

vHLC3 /= nInputLength;
vHminL /= nInputLength;

return new Array(vHLC3 + vHminL, vHLC3, vHLC3 - vHminL);
}

I added a multiplier to the EFS, see the attachments.
BTW, if Keltner bands are based on ATR values, this formula still doesn't look right to me: it's using the current bar High and Low where ATR looks at the previous bar too to calculate the highest differential.

 

That's my ES chart with the revised formula for Friday.

 

Looks close. Chart revised.