Arthur I have expanded your chart and highlighted your work. It appears to have volume built in to the work. Dk.green low_v hold. Br green inc_v and continue. Just the opposite of red. While in a trend the non dom color change ignored. This image was taken from the Hubble scope due to its ability to magnify extremely small objects. Thanks for the image.
Hey Jack. Looks like you already have 2 "Master Trader" votes on my "Jack Hershey" poll that I just created. Looking good so far..... Jason Poll is here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=192448
Tik, the scheme is bright red means high confidence short, maroon means hold that short with lesser confidence. Lime means high confidence long, dark green lower confidence hold. Orange means stand aside. Volume is used as Jack says to. Erroneous or whipsaw trades are not my fault. They are a 'feature" of SCT well known to its practitioners, or perhaps, victims. I freely and generously give of this rendition. Is it because I got filthy rich trading it and retired to my private Polynesian island? Or becuase it is worthless? Ah, the ambuggeryouities of the SCT community.
Very nice work and a nice chart. I do like it. I just need to expand it to see well, otherwise very good highlights on the indicator.
Your warm praise made me feel like I wet my pants for the second time this evening. But no credit is due to me. I have pubelished it here before to no acclaim. For reasons which become oblivious if you attempt to use it. My only pride it that it took me only two minutes to code it up. I like it so much that I steadfastly refuse to backtest it, although I could do that with another two minutes of effort. I want to always believe that I could have made money with SCT, rather than losing bigtime with my homegrown and rolled stuff. And if you suspect that I picked a good day as an example, why, where is the trust Jack encourages you to have?
yes during backtests little things that I have highlighted may surface. Does it highlight during the signal or two bars after ? It is nice that you are sharing your charts and thanks. Sorry about your pants edit: LOL I could not imagine ever you cherry picking a perfect chart for the purpose of getting some point across
All my codes trigger at the close of the bar. So when you see red, as I often do when thinking of SCT, it means short on the bar whose center lines up with the leading edge of the red indicator. I like my SCT algorithm because it is minimally invasive of the PV theorem, sort of like a sigmoidoscopy is to a colonoscopy. Not that I think SCT was pulled out of anyone's ass.
I thank you very much for your detailed explanation and of pleasant memories of a colonoscopy. As you can imaging being sedated for a colonoscopy and you do not remember much but you know something wrong has taken place, just like a wonderful day reading ET
Occasionally I take time to analyze my own stuff. Having spent two more minutes doing that with this code, I conclude that SCT often works so breathtakingly well that it brings tears of joy to your eyes. And the oposite. Either way, you are going to cry.