Folks the best way to deal with the nuisance posters is to click their id, then click on ignore. It seems they keep reposting. Deleting their posts only prompts them to repost. Banning only prompts registering as another user. This will be my last post on this topic (and I hope tums as well) so we can keep this thread on topic. FYI, thanks for all supportive PMs about the thread. I hope you continue to enjoy it. I especially thing that delving into a little B.P.R. now will be most interesting. I'd like your feedback on that. Sincerely, Wayne
Okay, will do. You make the suggestion suggestion for that. And you're right. I won't have time till late tonight. It was suggested in a PM to use ES. And I will do so. Later, I will post again late tonight. Sincerely, Wayne
Jack confirmed a few posts back that the '7 cases' would be the smallest fractal to use. I think this is synonymous with 'taping' for our purposes. Your annotations seem to be a bit more broad, with 2 lines encompassing several (5+) bars at some points. I would suggest using ehorn's posts from 9-15 & 9-16 as a proxy. I believe his ATS annotated the 7 cases perfectly, not to mention moving the tape at each tick if necessary. I think this would be invaluable when making decisions intrabar, but I am nowhere near worrying about that yet LOL Scott, great post!
Jander, have you read Jack's explicit detailed instructions on how to do taping in Channels for B.W.? I followed them to the t. He has diagrams and step-by-step how to handle all the exceptional cases. Frankly, ehorns didn't look like what Jack described very much. So I would appreciate if Jack has time to weigh in. Maybe ehorn has it right as you say. Still, please answer if you did study those instructions I mention because maybe I completely goofed. Wayne
FYI. Jack posted his 'Seven Cases' some time ago. However, some might wish to consider a few 'additional' cases when attempting to draw 'tapes' (manually or as part of an ATS). HTH. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2075118>
Wayne, I agree that it is very important to have an established and consistent understanding of what constitutes proper annotation and IMHO, it turns out that this takes some time to thoroughly understand, because channels cannot be properly annotated without the use of volume as a "tell". For example: there are times when the behavior of price and volume (at the RTL) suggests that one would fan a channel and other instances where this is not the case. I have attached an annotated chart (from 9/12) displaying my understanding of the 3 envelopes of channels and their corresponding volume annotations (necessary to the P/V relationship and proper channel construction). Any comments as to the accuracy would be appreciated.
Thank you! Most helpful. I see now that I confused these 7 cases for starting a taping channel with the 7 points for P,V relationship. Spydertrader, thanks for joining the thread!!! Can you answer the question Jander had earlier about the length of tapes? It appears, to me, that the 7 cases discuss the how to start a tape but that tape, it seems, should continue until??? Until the bars take a turn and break the trend line, eh? By the way, I did follow all of these cases but got confused with the ones with the inside bar on bar 2 which you cleared up with this post. Thanks. I'll take another shot at it on the ES tonight. Sincerely, Wayne Thanks!
Wow. Now that DOES look like Jack's diagrams. The only part that confuses me is your taping. I will try again tonight and compare mine to yours on the ES with volume. It appears that you reapply the 7 cases at every bars. Jacks's examples seem to skip doing them for bars that are still withing the channel of the previous bar. Am I wrong? It's clear that I must graph how this works through manual effort before attempting to automate. Wayne
One more question, ehorn. I don't follow why you have the horizontal line channels at intervals. Is that due to one of the seven cases? It appears to be a lateral case at first but they don't all seem to fit that. So please elaborate. Wayne
You are correct. If after 3 bars the trend continues the tape from bar 1 should be extended and can create an expansion. Also, there are variations of tapes. This is discussed in the Futures Journal and IR thread. I have not applied coding to extend 2 bar tapes out beyond to make tape extensions, chubby tapes, etc...)