LR Channel Indicator

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lutra
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LR Channel Indicator

Postby lutra » Mon Feb 19, 2007 5:49 pm

I have been using TRO's Lr Channel indicator for quick scalps with great results. Unfortunately I am not able to get it to work in the Radar Screen. All the fields stay blank. What am I doing wrong??



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TheRumpledOne
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Postby TheRumpledOne » Mon Feb 19, 2007 9:05 pm

_LR_Channel is a CHART INDICATOR.

_SMAA_LinReg is the radar version.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby cfrn » Mon Feb 19, 2007 10:59 pm

Have all the motherlodes but can't seem to find
_LR_Channel .eld

Can you post it or point me to it?

How about a screen shot of how you've been using it?

thx

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Postby lutra » Tue Feb 20, 2007 2:27 am

Thank you TRO for the fast reply. Have googled _SMAA_LinReg so far with out any results. have checked the TS forum and searched it still no joy. OPlease give me an idea about how long ago this was posted.

CFRN attached is TRO's LR Channel. It is the best I have seen, and there are a few of them out there.
Hope this helps,
Attachments
LR CHANNEL.ELD
(9.21 KiB) Downloaded 160 times

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Postby TheRumpledOne » Tue Feb 20, 2007 6:34 am

SMAA_LinReg




ELD attached.
Attachments
SMAA_LinReg.ELD
(5.48 KiB) Downloaded 115 times
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby Oli » Tue Feb 20, 2007 7:57 am

Lutra:

could you please give us a step by step run through on how you are using the LR indicator to scalp? That would be very educational!

Thanks,
Oli

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Postby lutra » Tue Feb 20, 2007 1:15 pm

TRO you are a prince. Thank you!!

Oli give me a day and I will show you how I scalp using the channels

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Postby lutra » Tue Feb 20, 2007 5:17 pm

Ok Oli here we go. Scan for a bunch of stocks that move nicely with good volume. Preferably NASDAQ stocks that can be shortened with out an up tick. You are looking for fat channels anything over 50 cents at least. Put on a chart TROs LR Channels watch for them to be touched or pierced . Wait for a reversal bar. Short if coming of the upper channel, long if coming off the lower channel. Keep fairly tight stops in case it is heading for a break out.. Use two or three lots place sell orders on the opposite channel for one lot. If it is a breakout or breakdown you have the second lot to mop up more gravy . If it is a choppy day take you first lot out at mid channel and set stop to break even.
As a filter: Set up a 2 minute trin bar chart with a 20 SMA. Keep a beady eye on the direction . When it is pointing up no longs when it is pointing down, no shorts. When it changes direction whilst you are in a trade get ready to close and maybe reverse. don't be a hero go with the flow.

I also use a 38 jtHMA and jtHMA Paint bar to keep on the right side of the trend.

See enclosed chart of a couple morning trades. Short at 9.45 Reversed at 10.40 sold one lot at 187.60 and am still long with two lots since it is rocking the trin is pointing down (buyers are in control) and the jtHMA is solid green .

TRO’s Radar screen will allow me to keep an eye on a whole bunch of candidates. Up to now I have kept a worksheet with 6 open charts which meant that I have missed on quite a few really good prospects.

TRO again thank you for all the marvelous tools.



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Postby Oli » Tue Feb 20, 2007 7:44 pm

Lutra,
thanks so much for that instruction!
Nothing better than hearing an actual trader using live tools talk about the way he uses them - FANTASTIC STUFF!

Only problem for me is there doesn't seem to be a TRO LR channel for eSingal and I have no idea what a jtHMA is!

I like your style, very cool!

Cheers,
Oli

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Postby TheRumpledOne » Tue Feb 20, 2007 11:44 pm

Lutra,

Add the _TRO_DynamicFibsSR to your chart. I think you'll like it.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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