Spydertrader's Jack Hershey Futures Trading Journal

Didn't touch on mine.

 

right....

now also on my chart after refreshing IB data :-(

amazing.

Ivo

 

Yes, you can 'redraw' the channel using the FBO as a new pt 3.

As a side note...it appears from your chart you are only looking at price and not volume.

Volume is key. Volume leads price, as price lags. Add to your chart the volume level rays for Very Dry Up, Dry Up, etc. See the beginning of this journal for the levels for the ES and YM charts. Then start drawing the volume gaussians - this will help with drawing the channels. When you get to the point of adding the YM, remember that YM annotations always precede ES annotations.

-Mike

 

Hi bi9foot,

I agree and the video confirms all of this. The increasing black volume started after RTL was broken. The stretch started right before RTL (on YM) and after the break.

+PRV is increasing volume and increasing price in direction of the new trend.

regards,
Ivo

 

Thanks. I will try it tomorrow.

 

I plan to spend the rest of the week traveling, and may not have an opportunity to post my charts each day.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1469936>

 

Today's ES Chart

 

Thanks Pr0crast! I sincerely appreciate your efforts that resulted in the QuoteTracker PRV upgrade...

 

Many people have asked if the 10:10 bar was an FTT.

On my chart it looks like it touched if I use thick lines, not if I use thin. On others it looks like it missed by a tick. Who is right?

Looking at the strict geometry:

p1: 9.75
p2: 13.25
p3: 10.25
gradient: 0.5/6
channel width: 13.25 - (9.75+1x0.5/6) = 3.416r

10:10 bar therefore has to reach or exceed 13.83r for a full traverse. It only reaches 13.75 and so fails to traverse. (BTW, even if it was not identified as an FTT in real time, the behaviour of the bar at or near the LTL should have led to the same conclusion.)

I monitor tapes for ftts based on this strict geometry. Looking back further than 3 bars presents cumbersome coding problems. However, you can see with this example that you only need to keep track of a few data items to know everything you need about the channel. Has anyone made progress identifying FTTs automatically?

All you need is some way of keeping track of the gradient, the last point 3 and the width. It can't be beyond the wit of the Medveds.

PS. Thanks to Pr0crast for the QT PRV upgrade - I've got it running side by side with Mak's excel and it seems to work as advertised.

 

vol 3 posted. links to the old ones too for those who missed them. vol 4 coming by end of may.

spyfut.vol1.zip
spyfut.vol2.zip
spyfut.vol3.zip