Live Trading With Grey1 ( Monthly Members Only )

[Blu-Ray]

Ely

The version you have downloaded is meant for radarscreen

Try downloading this one here:

http://www.trade2win.com/boards/technical-trader/29739-tt-toolbox-3.html#post434305

Cheers

Andy

 

[ely37]

Ely

The version you have downloaded is meant for radarscreen

Try downloading this one here:

http://www.trade2win.com/boards/technical-trader/29739-tt-toolbox-3.html#post434305

Cheers

Andy

Andy,

Thank you for pointing me in the correct direction.

-E

 

[jitasb]

Hello All.

I have been reading thru this forum and a few seminars with great interest. And wonder if i could ask a couple of questions:

1. Determining weak/strong stocks to daytrade each day.
I think most people are using the N-min utility which Grey1 kindly provided, but wonder if anyone is using the top down approach (I think mentioned in the seminar last month ?). I.E. using market sectors which are strongest/weakest then strongest/weakest stocks in those sectors as an alternative way of getting a list of stocks to look at for the day ? For example using FinViz or Esignal scanner. Just wondering really of the relative merits of the two approaches.

2. Someone posted a way of getting MACCI signals using either CCI or Stochastis with sma applied ? But i can't find the post now and maybe someone knows where it is. Essentially for people who don't have Tradestation and maybe want to use MACCI on Quotetracker or another charting system.

Many thanks in advance.

 

[Charlton]

Hello All.

I have been reading thru this forum and a few seminars with great interest. And wonder if i could ask a couple of questions:

1. Determining weak/strong stocks to daytrade each day.
I think most people are using the N-min utility which Grey1 kindly provided, but wonder if anyone is using the top down approach (I think mentioned in the seminar last month ?). I.E. using market sectors which are strongest/weakest then strongest/weakest stocks in those sectors as an alternative way of getting a list of stocks to look at for the day ? For example using FinViz or Esignal scanner. Just wondering really of the relative merits of the two approaches.

2. Someone posted a way of getting MACCI signals using either CCI or Stochastis with sma applied ? But i can't find the post now and maybe someone knows where it is. Essentially for people who don't have Tradestation and maybe want to use MACCI on Quotetracker or another charting system.

Many thanks in advance.

(1) For daytrading I would always use the N-min utility. The N-min utility does not ,in itself , provide a list of stocks. It ranks the stocks that you have entered into Radar screen in order of weakness/strength compared to INDU at that moment in time, based on price movements over the last x minutes related to volatility.

How you provide the candidate list is up to you. In a previous seminar Iraj suggested that you could use Finviz to "collect" a population of stocks over a period to feed into the Iraj-N minute utility. You could use the Finviz heatmap or you could use the list given to JayJay recently.

There is no need to change this population all the time, as long as there are sufficient candidates for you to work with

(2) You take a CCI length 6 and apply an SMA smoothed over 5 periods.

The ELA code is shown below and you should be able to adapt it to whatever you are using

Charlton

-------------------------------------------------------

inputs:
Length( 6),
SmoothingLength(5),
OverSold( -100 ),
OverBought( 100 ),
OverSColor( Cyan ),
OverBColor( Red ) ;

variables:
CCIValue( 0 ) ;

CCIValue = CCI(Length) ;

Plot1( Average(CCI(length), SmoothingLength), "CCI" ) ;
Plot2( OverBought, "OverBot" ) ;
Plot3( OverSold, "OverSld" ) ;

{ Color criteria }

if average(CCIValue, SmoothingLength) > OverBought then
SetPlotColor( 1, OverBColor )
else if Average(CCIValue, SmoothingLength) < OverSold then
SetPlotColor( 1, OverSColor ) ;

{ Alert criteria }
if Average(CCIValue, SmoothingLength) crosses over OverSold then
Alert( "Indicator exiting oversold zone" )
else if Average(CCIValue, SmoothingLength) crosses under OverBought then
Alert( "Indicator exiting overbought zone" ) ;

 

[jitasb]

Thanks

Thanks Charlton for the info.

 

[moreagr]

Hello All.

I have been reading thru this forum and a few seminars with great interest. And wonder if i could ask a couple of questions:

1. Determining weak/strong stocks to daytrade each day.
I think most people are using the N-min utility which Grey1 kindly provided, but wonder if anyone is using the top down approach (I think mentioned in the seminar last month ?). I.E. using market sectors which are strongest/weakest then strongest/weakest stocks in those sectors as an alternative way of getting a list of stocks to look at for the day ? For example using FinViz or Esignal scanner. Just wondering really of the relative merits of the two approaches.

2. Someone posted a way of getting MACCI signals using either CCI or Stochastis with sma applied ? But i can't find the post now and maybe someone knows where it is. Essentially for people who don't have Tradestation and maybe want to use MACCI on Quotetracker or another charting system.

Many thanks in advance.

hi jitasb,

I have QT and if you select indicators.. search for CCI histogram indicator not cci and hit edit

for period select 6 and 5 for signal... for signal is the smoothed out line which is the macci... on the lower right part of the edit box you can increase the width of the line to.

hope this helps

 

[jitasb]

Macci

hi jitasb,

I have QT and if you select indicators.. search for CCI histogram indicator not cci and hit edit

for period select 6 and 5 for signal... for signal is the smoothed out line which is the macci... on the lower right part of the edit box you can increase the width of the line to.

hope this helps

Hello moreagr.

It's certainly does help a lot.

P.S . In Quotetracker for CCI Histogram, there is also a setting for "based on". The default is (H+C+L)/3. Do you leave it as this or do you use a different value ?

Many Thanks.

 

[moreagr]

Hi,

Yes I have it on default ... I personally dont think it matters. but ???

If anyone on this forum knows if there is a better setting please let us know.

 

[ely37]

I've used the CCI Histogram in Quote Tracker, but it does not appear that the reading is the same as the MACCI as far as I can tell.

I've attached a screenshot of AAPL's 5-min chart from the 10/03 session with MACCI.

 

[Charlton]

I've used the CCI Histogram in Quote Tracker, but it does not appear that the reading is the same as the MACCI as far as I can tell.

I've attached a screenshot of AAPL's 5-min chart from the 10/03 session with MACCI.

In my earlier post I showed you the ELA for the MACCI - the important bit being:

Plot1( Average(CCI(length), SmoothingLength), "CCI" ) ;

If it helps the ELA for the CCI function used in the above line of code is:

inputs:
Length( numericsimple ) ; { will get divide-by-zero error if Length = 0 }

variables:
Mean( 0 ),
AvgDev( 0 ),
Counter( 0 ) ;

Mean = Average( H + L + C, Length ) ; { don't have to divide H+L+C by 3, cancels out }
AvgDev = 0 ;
for Counter = 0 to Length - 1
begin
AvgDev = AvgDev + AbsValue( ( H + L + C )[Counter] - Mean ) ;
end ;
AvgDev = AvgDev / Length ;

if AvgDev = 0 then
CCI = 0
else
CCI = ( H + L + C - Mean ) / ( .015 * AvgDev ) ;

Also the ELA code for the Average function used in the above script is:

inputs:
Price( numericseries ),
Length( numericsimple ) ; { will get divide-by-zero error if Length = 0 }

Average = Summation( Price, Length ) / Length ;

Also the ELA code for the Summation function used in the above script is:

inputs: Price( numericseries ), Length( numericsimple ) ;
variables: Sum( 0 ) ;

Sum = 0 ;

for Value1 = 0 to Length - 1
begin
Sum = Sum + Price[Value1] ;
end ;

Summation = Sum ;

So the code is now fully deconstructed and should help you work out where the differences lie if you translate the logic in these code snippets to your own case.

Charlton

 

[jitasb]

Couple of further questions.

Charlton, Thanks for the code , I'll go thru it when i have time over the weekend.

A couple of other queries/points if you kindly have time to answer (or anyone else for that matter).

1. Even if macci values are not exactly the same, does it matter that much? Presumably we are more interested in the direction and the OB and OS "regions". As long as you use the same "formula" across the timeframes then you become familiar with the cycles. So when you get the appropriate direction on the longer tf (30, 60) confirmed with a turning point on the 10min then you have a possibility of an entry signal ?

2. There was some position sizing code somewhere on TT, but is was solely for use with TradeStation. Just wondering if there was a brief summation of it (or readable code) so that people who don't have TS can adapt it for their purposes.

Many Thanks

 

[Charlton]

Charlton, Thanks for the code , I'll go thru it when i have time over the weekend.

A couple of other queries/points if you kindly have time to answer (or anyone else for that matter).

1. Even if macci values are not exactly the same, does it matter that much? Presumably we are more interested in the direction and the OB and OS "regions". As long as you use the same "formula" across the timeframes then you become familiar with the cycles. So when you get the appropriate direction on the longer tf (30, 60) confirmed with a turning point on the 10min then you have a possibility of an entry signal ?

2. There was some position sizing code somewhere on TT, but is was solely for use with TradeStation. Just wondering if there was a brief summation of it (or readable code) so that people who don't have TS can adapt it for their purposes.

Many Thanks

jitasb
(1) I think if the values were hugely different then there would be concern. If they are close it may simply be due to differencs in the data sources used. I would suggest that from time to time we all synchronise our MACCIs.

At 12:00 (exchange time) today my readings are:
1 min - 10.87
3 min -86.20
5 min -67.97
10 min -111.14
30 min - 91.77
60 min -134.36 (at 12:30)

I would appreciate it if some others can confirm these settings. This is for Tradestation 8.3 and using the data source provided by TS. There have been issues with their chart updates today, so there could be a problem with these figures.

With regard to your point about the formula It is not necessarily true that the same formula used across all timeframes would give the same entry signals as a different formula used across all timeframes. The only way to check this out I think would be to compare the high, low and closing prices of the $INDU for a defined set of 1 minute bars (say the first 10 in the session) and to see what the MACCI values are for those - then at least you can determine whether differences lie in the data or the formula.


Position size code (thanks go to Glenn for providing this originally) is shown below

Charlton

[LegacyColorValue = true];

{Calculates position size based upon Fixed Percentage (1% of Capital) Money Management stop-loss
Capital = X, Fixed Percentage = X/100.
Say Capital = $120,000 based on 4x margin allowed, and FIxed Percentage = 1
Money Management Stop = $120,000 *( 1/ 100) = $1200.

Use the ATR(14) in each timeframe to calculate the Position size:-
e.g.
10 minute ATR(14) = $1.00
Position Size = MM Stop / ATR = $1200 / 1.00 = 1200 shares.

******* For Day-trading or Scalping using 10 min INDU cycle, set the Data Compression of this indicator to 10 minutes.
******* For Swing Trading, set the Data Comperssion to Daily}

Inputs:
Capital(0), {e.g. 120000 means $120,000}
FixedPercent(0), {e.g. 1 means 1 percent}
BASKET(0), {e.g. 3 means calculate position size assuming that you are taking 3 positions at once}
MaximumShares(0); {e.g. 1200 Shares.This is to ensure that non-volatile (Low ATR)stocks are not used for Scalping or Day-Trading.
Position Size will show 0 (zero)and Magenta backgound if the calculated Size is greater than the MaxShares}
Variables:
MMStop(0),
PSize(0);

MMStop = (Capital * (FixedPercent/100))/(BASKET);
Psize = (MMStop / (AvgTrueRange(14)));
If Psize <= Maximumshares then begin
Plot1(Psize,"Size");
Setplotbgcolor(1,black);
End;
If Psize > MaximumShares then begin
Psize = 0;
Setplotbgcolor(1,magenta);
Plot1(Psize,"Size");
end;


Value1 = Ticks ; { Force RadarScreen to update every tick. }

 

[ely37]

At 12:00 (exchange time) today my readings are:
1 min - 10.87
3 min -86.20
5 min -67.97
10 min -111.14
30 min - 91.77
60 min -134.36 (at 12:30)



Charlton

I got
30 min -91.78
60 min -132.94

The other TF are spot on.

-E

 

[Charlton]

I got
30 min -91.78
60 min -132.94

The other TF are spot on.

-E

Ely

Thanks for that - I have just rechecked the 60 min and it is now showing the same figure as yours. The 30 min doesn't concern me too much because it's probably just rounding error.

Which platform and data source are you using ?

This is is useful because we now have a benchmark that others can compare against

Charlton

 

[Trader333]

This is what I had at the same time using IB data

1 min -6.41
3 min -87.97
5 min -69.27
10 min -111.06
30min -90.62
60 min (12.30 EST) -133.94


Paul

 

[Charlton]

This is what I had at the same time using IB data

1 min -6.41
3 min -87.97
5 min -69.27
10 min -111.06
30min -90.62
60 min (12.30 EST) -133.94


Paul

Thanks

I know you use Tradestation and the MACCI code as supplied, so clearly there are some minor differences based on the data source, but it's encouraging that we are all very close

Charlton

 

[ely37]

Ely

Thanks for that - I have just rechecked the 60 min and it is now showing the same figure as yours. The 30 min doesn't concern me too much because it's probably just rounding error.

Which platform and data source are you using ?

This is is useful because we now have a benchmark that others can compare against

Charlton

Charlton,

I'm using TS 8.3 (TS as source) with the MACCI_TM code.

-E