everyone talks about watning a tops and bottoms indicators, so I made one

Discussion in 'Technical Analysis' started by IronFist, Oct 11, 2021.

  1. Here's the last few days on the S&P.

    Dots print in real time. No reprinting.

    tops and bottoms 10-4.jpg tops and bottoms 10-5.jpg tops and bottoms 10-6.jpg tops and bottoms 10-7.jpg
    userque likes this.
  2. SunTrader


    The trouble is, what to do when there are multiple dots:- !eMini Signal.png ;)
    murray t turtle and KCalhoun like this.
  3. SunTrader, is your chart an excerpt from IronFist's chart? I can't really make out much on IronFist's chart.

    Those multiple dots indeed seem to be a problem. :)

    What if you interpreted it as first time you see a buy dot, you buy and hold until you get the first sell dot, then you hold until the next buy dot, and so on? Has anyone run those numbers to get the results?
  4. SunTrader


    No my chart is my chart.

    What I do is filter the signals. ;)

    Time/price/pattern. In that order.
    murray t turtle likes this.
  5. As a poster mentioned in another thread, you wait until you get a buy command and then put an order above the high of that candle. You walk it down each candle until it's filled. This skips many of the bad identifications.


    you can just start averging in and have a hard stop.

    Frequently multiple buy dots appear before a sell dot, so you can't go from one to the other. I don't mean in-a-row, I mean like buy dots here, and then like a bit later, more buy dots, but no sell dots. Price either went up and wasn't flagged or kept going down.
    Can you talk about time?
  6. Handle123


    Multiple dots as Bollinger Bands are trending hard, degree of slope, your "dots" are not showing to reverse but clear pattern of sustained trend. I learned this the hard way as I use trade divergences and they can clean you out unless you learn that multiple divergences are actually showing sustained trend.

    "Dots" work well with trend or chop. Also, when slope of price is not strong and allowed to have normal pullbacks, selling into pullback couple times works ok.
    beginner66 likes this.
  7. tomorton


    Not everyone wants a top and bottom indicator........
    murray t turtle likes this.
  8. That's a good notion...'cause there is no such thing.

    However there are "conditions which indicate a possible top/bottom"... which if you know them you can take a shot at catching. (The biggest problem with trying to catch top/bottom... is that there will be several/many setups which could mark the shift... but only ONE is THE one for each big swing.)

    While the conventional wisdom is to NOT try to pick tops and bottoms (see above), I advocate for trying to catch them as the rewards can be HUGE. However it is necessary to adhere to strict discipline not only as to where you "take a shot", but in utilizing stops.

    KISS Baby, as always!
    Last edited: Oct 12, 2021
    murray t turtle likes this.
  9. SunTrader


    I've got an excel algo - yuuuge took a long time and a lot of effort.

    Can't say more than that - other than it is gann based sorta.

    Anyway Synthetic Range Bars (and Kagi, Kase, Momentum, P&F, Renko) eliminate time.

    And that is why I don't use them. I only posted chart pic to show I have something similar.
  10. when you say time, do you mean like certain times to do trades, or certain times to leave them live, etc.?
    #10     Oct 13, 2021