opm8, It's way too big to post, and would only make sense to Matlab programmers. PM me is you want a copy of the source code in plain text. I've promised to e-mail it to a few folks in the next few days. I'm tidying up the code as we speak.
I'll give myself an A+ and several gold stars for todays call. We got the pullback to support for a perfect entry, and in fact the market gave us a chance to add to the position. Gotta love that. Then we rallied right up to my target - which I mistakenly referred to as a vaccuum in my pre-market post but is actually S/R. Had the wrong colour on my chart - sorry about that. I was actually thinking about raising my target as we got close but it blew right through in a flash - must have hit some stops. In the afternoon we pulled back to the breakout-level which is very common. We then rallied into the close on strong volume. Again I only got one trade in today before my bed won me over, but it was a work of art. Similar action on the YM. As I said I would have been looking to buy at the UVA and we had two opportunities to do just that. Although I didn't trade the YM yesterday. Gets more difficult to trade a market when it is in new territory when we don't have any overhead refrence points. I think next week I'll try covering the ER2 instead - just for a change. <a href="http://tinypic.com"><img src="http://i1.tinypic.com/nxn7ub.png" border="0" alt="Image hosting by TinyPic"></a>[img] bolter
Decent thread...giving all the secrets away! I want to code my own TPO charts in OBJ-C but simply cannot find the algorithm/logic on how a TPO chart is plotted. I suppose once I have the logic even if it's in excell I could translate/port it. Any help appreciated. tia MPx.
Bolter. Hi Bolter, The data feed is Esignal. I have no idea what the data is (tick) I don't know. I am not the most computer literate. I got the template from someone on Ensign. the numbers are very close to MP and the developing is just as good. This has been working for me very well. Take Care-- Lotus 7
My pre-market call is a little early and brief today. Got plans for this evening. Should be back before the open. Levels: ES 1288.50 1288.00 1283.00 YM 11095 11075 11067 AB 731.80 731.40 728.80 We're pointing a little lower on Globex - but we look to be opening above the UVA in all 3 markets. Posetive bias - you know the drill by now. On the ES the UVA and POC are in close proximity, and we have S/R right there at 1288.50. So that's my preferred play at the open. Buy a pullback to this level, with a fairly tight stop, and an initial target of yesterday's HOD (1292.75). But I will extend my target if the action looks perky. If we are not in the mood to confirm yesterdays range extension just yet we should bracket between between the LVA (buy) and UVA (sell). Overhead it is clear all the way to 1301, where we have the 2006 high. On the YM we have a potentialyl good setup also. Same deal, my preferred opening trade would be to buy the pullback to the UVA, with a farily wide stop. Actually buying the 11075 level would be an even better trade, because we have S/R, the POC and yesterdays UVA in this area. We also have S/R a bit lower at 11035. Overhead, we have nothing but wild blue yonder. In this case I'll set an aggressive target arbitrarily (say 100 points) and then work the target from there. Gotta be patient and give it plenty of room. As an aside, I have seen stats that suggest there is an 80% chance of prices "touching" the POC, on any given day, on average. Seems a little high to me but it certainly is very commonplace. Worth bearing in mind. Bon chance mon amis.
It is magic....Yesterday the H/L on the YM was 11133 -11059. Using the MP provided by Guy the VAH was 11068. However, after reading the thread by They I picked up this little gem: "the market gaps up, the market begins to sell off, where will it stop? at yesterdays highs? maybe, many traders will jump in at that level only to have the market go down another few points in to the previous day's range and stop them out, I have found that it will have it's best playable bounce at the previous day's Upper Value Area." The previous day VAH was 11063. Getting kinda weird. The R2 yesterday was 11134. Remember the H/L was 11133/11059.... All links were found here on this thread. Thanks Bolter. Here is a link some may find useful when using MP on regular $INDU charts. It's the daily Fair Value. The MP on Guy's website works very well on the regular Dow charts in finding S/R. Add fair value and you will see where/why the YM chart is where it is. Found this to work well during basing periods during this run into 4 1/2 year highs. http://www.indexarb.com./ Armed with all of this knowledge I lost 3 points trying to be cute and sat on the sidelines watching in amazement as the numbers fell into place.
Bolter, Curious at to what a tight stop is for you? 1 point? Would you have been stopped out on the ES this morning had you bought the 1288.50? It may be a little premature (can't say I've never been accused of that before ), but I will really be sad to see you leave this thread. You have really added a lot of clarity to MP for me. Thanks!