My recollection about degapping: - first time I heard the term from spydertrader, on ET, referring to day-to-day; much later he introduced the bar-to-bar degapping too - initially Jack was trading after the first 3 bars of the day, ignoring any carryover; later he bought into degapping everything I manually degap the opening by translating up or down only the previous day's price pane annotations, which seems to be all that's needed. Occasionally I re-draw up to a handful of bars I consider important, and change the color of the first bar of the day (price and volume).
ET search on spydertrader + degapping produce no results Your post emphasize my believes that every JHM practitioner has his/her own version of JHM. Did you been at Las Vegas meeting? Or NYC year before? Or NYC another year before? I hope I am mistaken, but out of people who made to Vegas or NYC events, nobody are active on ET anymore.
It is not clear what your intent is, but it is likely that at some point you will need access to a price\volume chart. If so, rather than creating patch work of multiple applications, consider using NT 8 for all of your needs. You will probably not need a vast (100k or 1M rows) amount of data. For such relatively light loads, a text file will do just fine. Using LINQ within NT, you will have access to a powerful query language that may be more powerful than SQL. If you are still convinced that Python and SQLite combination is your best solution, then consider using Jupyter: http://jupyter.org/
Hey hey, Thanks everyone for providing some context. Here are some artifacts of my recent explorations. svrz, your ideas are sound. In my research with Jack's method, I see having a growing db of examples supports knowing that you know. With this is having a searchable list of all the EE's, giving Signals of Continue or Change. VSA has software that provides contextual analysis bar-to-bar and it wouldn't be too hard to code the volume formations in a similar manner. An error table, would also be helpful in logging changing market dynamics. My computer days were a couple of careers ago so the idea of python and sql is a natural extension of my knowledge and skill base. I walked out of a kush consultancy to travel with my sweetheart and be bohemian. Tired of talking to machines, growing food and medicine became much more rewarding. Times, they are a changing !! Long story short, I would prefer not to do the actual coding, but will if necessary. In the spirit of Jack's pay it forward, I see it more open source than closed - PEP to solve problems on Main St. vibe. Given the current political climate, the idea of trading from a cloud platform has it's advantages for an aspiring world traveler. My intent is to translate Jack's ideas into a usable dashboard for extracting the market's full offer and to help anyone I can along the way. With that said, I'm far from expert and I have hand drawn thousands of charts. My sticking point is consistent logging to have this EOD view during RTH. Heroic, this is my interpretation of the day you posted as per my current understanding of Jack's material. Here are some supporting tools I used to derive my conclusions: My current understanding of the Bands and EE's: Band A Band B- K fwiw, JHM 2.0 from my current understanding REQUIRES degapping - mentally or with software. HTH
Thank you for your examples. I don't understand your bar color coding. RT#4 - Bar 9:45, 9:50. They have closes opposite their open and yet are colored the same. As for your examples, I don't have an answer to your dilemma. It's outside my current scope and awareness.
Searching in old threads yielded this: https://www.elitetrader.com/et/threads/questions-to-jack-hershey.229669/page-41#post-3367613 A couple of posts down Jack discusses differentiating the mind. Great stuff !!
https://www.elitetrader.com/et/thre...-on-a-daily-basis.275733/page-33#post-3830716 Heroic, I suspect there is insight to be had here. Failsafe is next for me to understand.
I translate "failsafe", in this case, as "the 2 two-bar cases that don't need squishing", as per Jack's post you just quoted above: Jack Hershey: Two Cases of the market make money and all ther cases are squished to have the two cases that make m0oney. You have all the pieces and as they form you squish them into the "long" or the "short" case. When a squishable case straddles a "right" boundary you decelerate the money velocity of the RTL by geometrically fanning the RTL. When the price exceds the LTL, you accelerate the boundary by redrawing the new steeper container.
In addition perhaps as a reference to volume suppression, the term failsafe as I know it best was frequently used for two End Effects based off geometry to limit losses. At the start of every new trend segment a horizontal bookmark goes out from the opposite extreme of the bar and if there is a close below that line it's an automatic sentiment switch. That End Effect is called BM Reversal. BO T1 is where the drawn-in right trend line has a close outside of it. This considerably shortens the length of a lot of trend segments with the RDBMS. In the chart you posted, if you do have Ab - Long sentiment on the 1525 bar as indicated, 1530 bar is going to be a BM REV - Short, and then 1535 will be a double BM REV - Long back into a PP4 - Short from the OB. And so on. But again, my examples aren't significant in themselves. Even if there happens to be an error, there are other charts with the same occurrences that will not have errors. It's simple a by-product of using a rigid mechanical system to classify sentiment. Not trying to knock the system by any means but for me it's been proven time and again that success with it isnt as simple as just mastering all of the EE's and the syntax; there's an additional step after that, be it more rules, intuition, etc. required to consistently profit. These days that extra step and how different individuals accomplish it in varied ways is where my interest lies. I've known a few individuals who have developed lasting success with foundational P/V principles but none from pure application of the RDBMS. So if you start to make headway there please keep us posted; you've seemed to make a lot of progress in a short amount of time and I can't imagine it will be too much longer before you start getting into the D of MADA.