TRO DYNAMIC FIBS SR2 - NEW

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TheRumpledOne
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TRO DYNAMIC FIBS SR2 - NEW

Postby TheRumpledOne » Thu Aug 02, 2007 10:53 pm

TRO DYNAMIC FIBS SR2 - NEW



There are new TRO DYNAMIC FIBS SR indicators:

TRO DYNAMIC FIBS SR2U and TRO DYNAMIC FIBS SR2L.

SR2U displays the "+" and dots in the price pane.

SR2L displays the PMSM dots. Cyan go long, Magenta go short, Yellow stop out of trade.

There are 2 new inputs:

iMaxStop - is the maximum amount you want to risk. If the difference between the trigger and the stop is greater than the max stop, the trade trigger will not show because it's more than your risk amount.

iSROffset - is a "fudge" factor. If the price is within iSROffset range of dynamic support/resistance it's as good as a touch. This allows the trade entry trigger to trip earlier in some cases.

ELD attached.

P.S. DON'T BE GREEDY!
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TRO_DYNAMICFIBSSR2.ELD
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Postby stationmichal » Fri Aug 03, 2007 12:35 am

WOW!!! Just amazing. You need to be challenged all the time so you can be creative. Your genius should not be wasted. (':lol:')

One suggestion: Could you modify the code to display: For long, the cyan should be at the bottom (or below) of the bar; and for short, the magenta should be at the top (or above) of the bar in the chart.
Thank you.

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Postby TheRumpledOne » Fri Aug 03, 2007 12:42 am

No because that wouldn't show you where the entry should be!!
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Postby cvax » Fri Aug 03, 2007 7:04 am

Hi TRO
I've been really fiddling with DynFibsSR lately and I am just getting hammered when AAPL trends. For example, I see the old Dynamic Resistance with the High touching it. Then the bar closes below the Resistance so I am going to short at the open of the next bar. All is nice and dandy until all of a sudden the stock goes and breaks the resistance and triggers my stop immediately after entry with successive higher highs in the next few bars. It tricks me every time and I end up with 3-4 consecutive stop loss trades.

Is this in concert with your experience? The DynamicR/S just keeps moving on me when I enter trades resulting in losses :(. Am I missing an entry condition here? I know in backtests you only enter if the current DynamicR/S is the same as the previous candle's R/S, but in live trading it always looks like its the same for a second or two at open and then BAM it gets moved up/down.

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Postby TheRumpledOne » Sun Aug 05, 2007 3:44 am

cvax:

If you have been reading what I post then you know that you need to go short at the SHORT TRIGGER PRICE and NOT when the next candle opens!!

The safer short trade, as posted before, is to wait for a red candle on the five minute chart after resistance has been touched and go short at the close of that candle.

The safer long trade, as posted before, is to wait for a green candle on the five minute chart after support has been touched and go long at the close of that candle.

HTH.
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Postby cvax » Sun Aug 05, 2007 4:44 am

OO! I was under the impression the algorithm to plot the short trigger price was the next candle open! I probably got confused with an older version when I was trying to convert your work to NinjaTrader. That makes a world of differences! Thank you.

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Postby TheRumpledOne » Sun Aug 05, 2007 4:59 am

Now where did you get that idea?

Look on the homepage.... I thought I explained it all there!!

The short trigger price is the LOW of the candle that made the current dynamic resistance.
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cvax
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Postby cvax » Sun Aug 05, 2007 5:35 am

I see it! My mind was just stuck with the TRO_DYNAMIC_FIBSSR - ENHANCEMENT code. The long trigger price is the HIGH of the candle that touched dynamic support! (Lightbulb flashing over my head)
Would you mind posting the code? Thanks a million TRO.

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Postby dbw451 » Sun Aug 05, 2007 1:41 pm

cvax,

I'm glad you posted your question because I had the same understanding as you about the opening price of the next candle being the entry price. I think I got the idea from a member post analyzing Dynamic S/Rs. The post included the psuedo code for the trading strategy. Anyways, the low/high of the DSR candles make much more sense. I marked up TRO's chart with what I think are the entry prices (or at least as close as I could place with my mouse).



I've marked 14 potential entries (although I'm not sure about the long at 9:40 because the same candle also made a new low which could have came before or after the entry). The entries are marked 'S' for short and 'L' for long. I tried to draw a line to the price on the candles that are the entry prices. The entries that have a '1' by them have a potential of making a $1 or more move. The entries that have an 'x' by them would probably result in losses. The entries marked with just as 'S' or 'L' have potential for some profit if traded well.

The lightbulb has been turned on for me as well. :)

Regards,

David

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Postby TheRumpledOne » Mon Aug 06, 2007 1:35 am

The FIRST trade is the BEST trade.

I usually only take ONE trade per support/resistance touch. Going for that second trade can be a tough trade.

Remember the point of trading is to MAKE MONEY not make ALL THE MONEY.

Be patient, another trade is on the horizon.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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