Looking back over the past seven years of studying SCT (a neverending struggle, on a par with trying to understand women), I am astonished at how often Jack inspired me to do something better simply because he did it so badly. Take, for instance, his concept of sweeping. Check this. Check that. Check the other thing. All eighteen of them, if I recollect rightly. Now I agree that there is great merit in building up a gestalt of the evolution of multiple events in multiple timeframes, so I constructed sweep sequences for my own stuff. But it seriously hurt my head and eyes. So recently I decided to put everything important to me from four other time frames onto one-second for instant comprehension without eyestrain. What I use is as far from SCT as you can get, but perhaps this will give you presentation ideas. I took the time and price scales off to avoid any arguments. Can't find volume? Hahahahahaha!
How very oravaginal of ML_Quant to steal the name of my thread! Just proves that crowd cun't think for themselves. So, today, for a change, SCT was a no brainer (lucky for THEM)! Far from elegant, I admit, but it captured a lot of the range. And gave you lots of time to kvetch on ET.
Well, a dilemma. It's still too early to decide which of these two versions of SCT I'll be bragging about after the close. Both are doing so well! But not to worry, I''ll make the right choice using SCT's most powerful tool: hindsight!
When in the candles with the arrows are the arrows being generated? Upon close? Or does a down arrow appear such that you get in on the first tick of *that* candle?
IronFist, it ill behooves a person of your stature here to post on this thread. You are likely to be labelled as a member of the B-Team, never to be taken seriously again. So behoove yourself!
Great stuff, Joe. I guess i was wrong about simplifying SCT, and so making it not SCT. Great charts by the way. Just had a peep at the 'A' team charts, always reminds me of a picture, it's an illusion, it's the one where your eyes follow the people walking up the steps only to find them at the bottom of where they started. Haha! Maybe it's the steps to bootcamp?HAHAHAHA! Dackster.
The arrows are generated on the "Open" of the candlestick provided the volume criteria is being met. I have found that quite often the spike in volume represents a ... CLIMAX, if you would. If you wait until the candlestick closes you get in too late.
I always thought SCT was too complicated and too subjective. Unfortunately it took me a year to find that out. So I'm interested to know what is the main idea here? I read that PV is the main idea but I have no idea how you're coming up with your criteria to be long or short. How about a hint? Thanks