Resetting of Hourly BuyZone question

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rkave
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Postby rkave » Wed Jan 23, 2008 7:42 pm

Here is a modification to OBX's code (it is for ploting BZ at user defined interval), I hope it helps
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BUY ZONE INTERVAL.ELD
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obx
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Postby obx » Thu Jan 24, 2008 12:20 am

Thanks for posting the eld, rkave.

Got whipped through both end of the zone seven times today but was able to take some pips on one of them.
Kept large % of each position and was able to move position to ?next? zone 5 times and stay in for some really nice runs.

Kept same settings as yesterday (720 start, 48 min intervals). Decided to run the stats daily but only reset starttime and interval when they are flagging or one of the stats make a large jump (like by more than 5 minutes interval btwn days, etc). Zone size did increase by 2 points though. (still not quite enough of course stupid computer optimizing :lol: )

Credits to Tony Crabel, Mark Fischer, and of course TRO. This had been on the back burner for a while and TRO was the catalyst for getting it going again?
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modBuySellZone080123.jpg
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Last edited by obx on Thu Jan 24, 2008 7:19 pm, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Thu Jan 24, 2008 4:05 am

Tony Crabel's Opening Range Formula
This information is only available in Tony Crabel's, "Day Trading With Short Term Price Patterns and Opening Range Breakout". This is a mathematical formula used to play the opening range breakout. If you are unfamiliar with this method it may sound complicated but bear with me.

First Step: you get the (High - Open) and the (Open - Low)

For example: Let's take the S&P 500 emini contract

High: 1294
Low: 1281.5
Open: 1290.50

(High - Open) = 3.5
(Open - Low) = 9

2nd Step: You take the minimum of the two numbers. In this example the minimum would be 3.5.

3rd Step: Add the minimum for the last 10 trading days and divide it by 10. So you would add 3.5 to the minimum of the previous 9 days. In total you will have 10 numbers. Divide that by 10 to get the average.

4th Step: For example, let's say you get a 10 day average of 2.5. You simply play the breakout of the opening range. If prices open up at 1293, you would buy a breakout above 1295.5 and short a breakdown below 1290.50.

Simple and easy. I have not tested this to work but I know this was a famous opening break method amongst the professionals for many years. Alot of traders still use this method. Some may chose to take the 10 day average minimum and multiply it by 1.1 or 1.2 to make slight adjustments to the markets they are trading. Hope it helps.

============================================

Never heard of this method before...LOL!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby TheRumpledOne » Thu Jan 24, 2008 4:11 am

Mark Fishers book "The Logical Trader"

http://www.forexfactory.com/showthread.php?t=6385

Well the A and C values can be obtained like this

A= 10% of ATR
C= 1.5 * A

Well it's all very mixed. The A and C values aren't that important, you can use your own. I have the indicators for ACD, pivot range and 3 days rolling pivot but i dont really know how to upload them.
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Postby TheRumpledOne » Thu Jan 24, 2008 4:14 am

Those guys have methods that are way too complex for me...LOL!
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Postby BlackJack » Thu Jan 24, 2008 7:22 am

Hi Obx,

I've modified the code that I use to reflect ts8+ ability to plot more then 4 values - just change the input values BZ_1 and BZ_2 to .0003 and .0004 for the other $.

Input: Start_Date(1080121), Start_Time(2000), End_Time(2300);
Input: BZ_1(.03), BZ_2(.04);

Var: JPY_Hr_Open(0), Start_Hr(Start_Time), Next_Hr(End_Time), start(0);

if date = Start_Date then
start = 1;

if start = 1 and time >= Start_Hr and time < Next_Hr then begin
JPY_Hr_Open = open;
Start_Hr = Start_Hr + 100;
Next_Hr = Next_Hr + 100;
if Next_Hr >= 2500 then begin
Start_Hr = 0000;
Next_Hr = 0100;
end;
end;

plot1(JPY_Hr_open,"",7);
plot2(JPY_Hr_Open + BZ_1,"",4);
plot3(JPY_Hr_Open + BZ_2,"",4);
plot4(JPY_Hr_Open - BZ_1,"",6);
plot5(JPY_Hr_Open - BZ_2,"",6);


The 'Start_Date' is just so that the code does not run willy nilly on whatever data you have on the chart. 'Start_Time' and "End_Time' need to be set to the last hr and the next hr - ie. if the current time is 1725 - set 'Start_Time' to 1700 and 'End_Time' to 1800. The plot will start now and correct to the hour at 1800.

TS8+ alows you to set the "line" type that is ploted - ts2ki doesn't -- so the "line" type is missing from the 'plot' command --- I find that red "6" and green "4" doted lines with a yellow "7" doted 'open' line are easy to see. Green in the Green going long - Red in the Red going short.

Hope that this helps you and have fun -

BJ

obx
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Postby obx » Fri Jan 25, 2008 1:00 am

Same settings for oZone today.
The black arrows show where got whipped back through the zone.
Otherwise did ok on a small range day session by letting it move to the next zone which narrows the SARs

To reply to the PMs from other forums no, I will not be releasing the code for the oZone at this time. It started out as a potentially collaborative effort but that didn?t go anywhere so like chicken little, I ended up just doing it myself. If you want to reverse engineer it, I mentioned the primary resources yesterday Crabel, Fischer, TRO, plus we wouldd have to throw in some LarryWilliams, an engineer friend from years ago, etc. ++ a lot of screen time? Thanks for the explanations about Crabel and Fischer above.

oZone is not meant to improve on or replace the buyzone. Its simply what I?m doing with some unimplemented ideas Ive had for a long time. The breakouts / zones could actually be placed randomly as long as they are in the neighborhood of price.

In reality, the very best way to improve on buyzone is to improve on ones execution. An analogy - Lots of times when white water kayaking you can just let it drift in any angle and direction. But at certain times, it is imperative to be pointing the craft precisely and paddling at just the right speed. Same deal in proper entries and exits in the buy zone (or oZone or whatever scalping method one is using) ie Much greater gains can be had developing those skills than can be gain from trying to tweak the system. TRO has said the same many times, many ways (and on every freakin trading forum on earth razz :D )

_____
edit 1/31 still could not upload image for 1/24
Last edited by obx on Fri Feb 01, 2008 12:45 am, edited 1 time in total.

brwkem
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Postby brwkem » Fri Jan 25, 2008 1:33 am

Avery,

For example: Let's take the S&P 500 emini contract

High: 1294
Low: 1281.5
Open: 1290.50

(High - Open) = 3.5
(Open - Low) = 9

Would the above method couple posts back work on currencies USD/JPY?
Thoughts?

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Postby TheRumpledOne » Fri Jan 25, 2008 1:53 am

I don't know. That's not my method.

I trade THE BUY ZONE.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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obx
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pippin in the oZone

Postby obx » Fri Feb 01, 2008 12:30 am

pippin in the oZone any ole time :D
spline and flame concept for snicks and exits



btw brwkem, re: method couple posts back work on currencies USD/JPY Yes that does work. However, ACD, etc. requires regular fairly sophisticated re-optimizations to set the size of the zone s. buyzone is simple and straightforward

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