NexusFi: Find Your Edge


Home Menu

 





The Valley of the Rainbows


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one websouth with 16 posts (25 thanks)
    2. looks_two astra68 with 7 posts (5 thanks)
    3. looks_3 max-td with 6 posts (4 thanks)
    4. looks_4 wh with 3 posts (4 thanks)
      Best Posters
    1. looks_one sefstrat with 3 thanks per post
    2. looks_two websouth with 1.6 thanks per post
    3. looks_3 wh with 1.3 thanks per post
    4. looks_4 astra68 with 0.7 thanks per post
    1. trending_up 30,536 views
    2. thumb_up 45 thanks given
    3. group 13 followers
    1. forum 48 posts
    2. attach_file 29 attachments




 
Search this Thread

The Valley of the Rainbows

  #11 (permalink)
 
websouth's Avatar
 websouth 
Perdido Beach, AL
Market Wizard
 
Experience: Intermediate
Platform: graph paper
Trading: The shiny stuff
Posts: 1,209 since Jul 2009
Thanks Given: 1,116
Thanks Received: 1,335

set a wave on your favorite instrument and use just a line chart (timeframe doesn't matter) and watch how it flows. I attached a ghost template.

The size of the waves vary but there is a similarity among them. This is the flow of the market. Can you figure out how to profit from this....

If any of you surf - you can not tell if a big wave is going to form you can only tell a wave is forming and you react accordingly.


+++++++++++
put chart template in
documents/Ninjatrader6.5/Templates/Chart

Attached Files
Elite Membership required to download: ghost.xml
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Are there any eval firms that allow you to sink to your …
Traders Hideout
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Better Renko Gaps
The Elite Circle
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
Battlestations: Show us your trading desks!
26 thanks
The Program
18 thanks
  #12 (permalink)
 
websouth's Avatar
 websouth 
Perdido Beach, AL
Market Wizard
 
Experience: Intermediate
Platform: graph paper
Trading: The shiny stuff
Posts: 1,209 since Jul 2009
Thanks Given: 1,116
Thanks Received: 1,335

OK the surfing lesson is over...

If you like a cleaner chart take a look at just the pivot lines and the spine. Then use traditional price action (trendlines, flags, etc) with this.



ps.
you need the slingshot and the wmacolored indicators from the download section for this template.

put chart template in
documents/Ninjatrader6.5/Templates/Chart

Attached Files
Elite Membership required to download: BR.xml
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #13 (permalink)
 sukhsan 
Ottawa, Canada
 
Experience: Beginner
Platform: Ninja
Broker: Mirus,Zen-Fire
Trading: Currencies
Posts: 120 since Jun 2009
Thanks Given: 109
Thanks Received: 79


thanks websouth


SSS

Reply With Quote
  #14 (permalink)
 
max-td's Avatar
 max-td 
Frankfurt
 
Experience: Intermediate
Platform: NinjaTrader
Trading: FGBL 6E B4
Posts: 1,752 since Jun 2009
Thanks Given: 2,309
Thanks Received: 927

thanks a lot websouth for the input !

shure, the waves come up in all timeframes - but you have to find out whats really tradeable - in fact of speed + slippage - to get sensemaking fills and enough ticks running after your entry.
in this direction i have no idea yet how this will be in live the c-future + not only watching it from a static chartpicture.
iE rangeCharts -- the fill after a barclose is a minimum 2 ticks away if price doesnt come back some ticks on the next Bar.

max-td
Started this thread Reply With Quote
  #15 (permalink)
 
websouth's Avatar
 websouth 
Perdido Beach, AL
Market Wizard
 
Experience: Intermediate
Platform: graph paper
Trading: The shiny stuff
Posts: 1,209 since Jul 2009
Thanks Given: 1,116
Thanks Received: 1,335

OK OK OK - one more than I'll wait for some feedback. This is a fav.

You need slingshot from the indicators section.... shout out to Roonius. I love this indicator.

This is another wave based on
1-12 ema
42-60 wma
120-200 ema

Modern Art - waves change color with trend. Lots of jump in/out points at intersections or along the way.

Attached Files
Elite Membership required to download: modernArt.xml
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #16 (permalink)
 
max-td's Avatar
 max-td 
Frankfurt
 
Experience: Intermediate
Platform: NinjaTrader
Trading: FGBL 6E B4
Posts: 1,752 since Jun 2009
Thanks Given: 2,309
Thanks Received: 927

lol .......... looks like cubism

max-td
Started this thread Reply With Quote
  #17 (permalink)
 
websouth's Avatar
 websouth 
Perdido Beach, AL
Market Wizard
 
Experience: Intermediate
Platform: graph paper
Trading: The shiny stuff
Posts: 1,209 since Jul 2009
Thanks Given: 1,116
Thanks Received: 1,335


max-td View Post
thanks a lot websouth for the input !

shure, the waves come up in all timeframes - but you have to find out whats really tradeable - in fact of speed + slippage - to get sensemaking fills and enough ticks running after your entry.
in this direction i have no idea yet how this will be in live the c-future + not only watching it from a static chartpicture.
iE rangeCharts -- the fill after a barclose is a minimum 2 ticks away if price doesnt come back some ticks on the next Bar.

Max if you have a risk/reward timeframe you like...don't change it. Time frame is a personal thing. I am just advocating looking at the market a little differently (more visually) then using a derivative of a derivative like stochastics, or macd, or any of the trillion other indicators. Does one way work better than another...? This works for me. The actual colored rainbow is too busy for me but the idea behind it to me resonates.

So- What we are looking for is a price you don't think we will see again for a while. (in other words the market will move away from there) So somehow we have to segment that price in our mind from the rest of the prices. Maybe if it is in a differently shaded region.... hehe. Why is that any different than using the excuse - the macd was rising or the baruck tranken flux capacitor oscillator told me to take the trade. We can't predict what's next. You can only predict what you will do if you are wrong...

Visit my NexusFi Trade Journal Reply With Quote
  #18 (permalink)
 
websouth's Avatar
 websouth 
Perdido Beach, AL
Market Wizard
 
Experience: Intermediate
Platform: graph paper
Trading: The shiny stuff
Posts: 1,209 since Jul 2009
Thanks Given: 1,116
Thanks Received: 1,335


max-td View Post
lol .......... looks like cubism

yeah - is the trade up or down...hehe



Cubism - Wikipedia, the free encyclopedia

Visit my NexusFi Trade Journal Reply With Quote
  #19 (permalink)
 yiman 
London
 
Experience: Intermediate
Platform: ninjatrader, multicharts, MT4
Broker: IB, PFG Best
Trading: 6E, EMD, TF
Posts: 265 since Jul 2009
Thanks Given: 111
Thanks Received: 158

5 min trend follower rules and download

Make Money With This Forex Trading System

Reply With Quote
  #20 (permalink)
 astra68 
Germany
 
Experience: Advanced
Platform: NinjaTrader
Broker: Interactive Brokers
Trading: GBPUSD
Posts: 22 since Sep 2009
Thanks Given: 11
Thanks Received: 14


I trade the Rainbow with 2 Screens - on the left 5 sec and on the right 30 sec for the big picture.
Important is the Spine, S/R and yes Price Action + Speed.
You have to do the same thing 3 - 4 - 5 Month on IB Paper Account, then you know ;-)
Ninja Trader + Interactive Broker is a very good premise.
Every month I try same new indicators, but it does not help :-)
after two days I have the same old screens in front of me...

Attached Thumbnails
Click image for larger version

Name:	Rainbow.jpg
Views:	454
Size:	224.5 KB
ID:	2571  
Reply With Quote




Last Updated on August 30, 2012


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts