No doubt. Price Drivers are the first quantification of fundamental market moving data combined with before the fact price action of significant players on the DOM and or past COT data et al. It's a truly revolutionary real time system of determining bullish/bearish bias across multiple time frames. I am really excited by the potential! surf
Each of the players "action" is based on a different expectations. Some buy or sell looking for immediate movement in their desired direction, others are short/long covering. Others are investing medium and long term and are not as specific about what price they get, others are hedging, still others are working small pieces of a larger order and are scaling in and the list goes on and on. So many different reasons/expectations and their associated trades, are simultaneously and continuously occurring in the mkt. You don't need to know which will "influence" price, all you need to determine are the moments when price is likely to move in your desired direction. TA allows you to see market data and manipulate it into a way to read that direction. It's not rocket science, but it ain't easy either.
Slow your roll!! LOL I'm a big proponent of multiple time frame analysis; it lies at the core of my method actually.
Just to clarify for others, the PD has nothing to do with multiple chart time frame analysis. I never understood why folks perceive a difference between one 15 minute bar or 15 one minute bars when the base drivers creating those bars are not quantified, surf
You can only see what has happened. In no way does what happened influences what is going to happen. If it did, it could be quantified and tested to obtain odds. The odds are unknowable by looking at past price action only-- think about it, if you could just get it to 51% accuracy of X move, you could corner the markets provided enough capital. You still can't quantify the odds of a price move continuing or reversing by looking at a price chart-- therefore I fail to understand the value proposition of a chart. Sometimes your right, sometimes you are wrong you can't know until you enter. Charts are a hindrance not a tool. surf
I have 13+ years of day trading metrics recorded; I have a VERY GOOD idea of the odds of my trades working out, as well as a 100% objective approach. I'm sorry you don't understand multiple time frame analysis, but that's not my problem. If I get alignment on one of my time frame pairs, and price triggers an entry, I get in without hesitation. Sometimes the entry is wrong but usually these wrong entry's occur at inflection points and I'll reverse at my stop and ride the move in the opposite direction. And then there are the times where neither work and these suck but fortunately don't occur very often. Charts may be a hindrance to you, but the visual data is very useful for me.
That's all well and good, I am happy for your success. However, why not automate the system and go fishing or whatever? There has gotta be more fun things than screen based trading-- right?? That is unless your method is subjective, then I understand why you need to trade it. Nothing wrong with subjective systems, my issue is when folks consider their trading objective when its really subjective. surf
Funny you mention this, one of my hedge fund contacts put me in touch with an old friend who manages a group of programmers here in NYC and I have spoken to him about doing just this. I have all the rule sets laid out; now it's just a question of breaking up the code so that no one person has access to the whole thing. I am very protective, I guess you gotta be in this business.
No doubt about the wisdom of keeping the components separate. Good luck with the project! You will be the FIRST one I am aware of to have succeeded with such an endeavor to program a working TA system. By the way, someone just contacted me-- are you really a female? :eek: