I have found the Holy Grail indicator for the Dow Jones - 100% right so far

[TEAMTRADER]

I have a day trading system that when I use it with your signal I have never lost.
When the winter comes and the electic/gas bills get stupid there will be a lot of interest!
Hope I am still alive then.
TEAMTRADER

 

[batsonar]

I have a day trading system that when I use it with your signal I have never lost.
When the winter comes and the electic/gas bills get stupid there will be a lot of interest!
Hope I am still alive then.
TEAMTRADER

I'm going to start giving intraday signals for the US 30 (Dow Jones) using the 30 minute time frame so keep a look out for my posts every day.

 

[batsonar]

As you can see on the top half of the chart the DOW is near a support level (see blue dotted line) at 31,294. I would expect the DOW to bounce off this level at some point but it could break this level considering the bearish sentiment. I will not enter a trade until there is a "BUY" label on the chart or the bottom indicator turns from red to green. Will keep you undated.

 

[AriaS]

As you can see on the top half of the chart the DOW is near a support level (see blue dotted line) at 31,294. I would expect the DOW to bounce off this level at some point but it could break this level considering the bearish sentiment. I will not enter a trade until there is a "BUY" label on the chart or the bottom indicator turns from red to green. Will keep you undated.

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Batsonar, is this a regular Heikin Ashi or some kind of tweaked version of it? Is this the one that gave you the 484 trades?

 

[batsonar]

Batsonar, is this a regular Heikin Ashi or some kind of tweaked version of it? Is this the one that gave you the 484 trades?

Yes it's regular Heiken Ashi within Tradingview. It doesn't really matter what kind of candles you use the indicators work the same. I don't use the Heiken Ashi to enter a trade. I based the 484 trades off the buy and sell labels and also mostly the bottom indicator.

 

[batsonar]

I just back tested the EzAlgo buy and sell indicator which is a paid Tradingview indicator. I back tested it on a 30 minute time frame from the 27th September 2021. There were 525 trades in total. I had 320 wins against 205 losing trades. This means that this strategy has a win rate of 60.95% which is quite good really. To get the EzAlgo indicator search the YouTube channel Ez Trades. It's a very good indicator because it automatically plots support and resistance levels. With this strategy you only exit a trade on the next buy or sell signal. This way you can let your trades run and catch some big moves.

 

[batsonar]

This is a daily chart of the Dow Jones (US 30). As you can see on the chart there is a support level round about 30,000 (see blue dotted line). I wouldn't be surprised if we hit that level before a bounce up. It certainly looks like the Dow has further to fall. Don't try and catch a falling knife as they say.

 

[batsonar]

This is a chart of the Dow Jones (US 30) on a daily time frame. As you can see on the chart there is a purple dotted line pointing downwards in front of price. This is the "Price Projection Forecast" indicator. The indicator does suggest that the Dow Jones has further to fall in the short to mid-term and shows it could fall to the 30,000 level or even lower. See support level on the chart (blue dotted line).

 

[Lord Flasheart]

I told you the other day that I was experimenting with a new Tradingview indicator. I just back tested it 100 times on a 30 minute time frame on the US 30 and it had 78 wins against 22 losing trades. This means it has a 78% win rate which is quite impressive.

When you say 78%, what do you mean. To how many points was this and what was the stop. I have a 100% indicator, you buy the dow with a 1 pip target and 10,000 pip stop. A CCI indicator will always give a least 1 pip but at what loss. I hope you take my point.

 

[batsonar]

When you say 78%, what do you mean. To how many points was this and what was the stop. I have a 100% indicator, you buy the dow with a 1 pip target and 10,000 pip stop. A CCI indicator will always give a least 1 pip but at what loss. I hope you take my point.

There was 100 trades that I back tested. Out of those 100 trades 78 were winning trades and 22 were losing trades that means this strategy has a 78% win rate in 100 back tested trades. I didn't take notice of amount of points that the DOW moved in each trade nor set a stop loss for each trade. I just looked to see if they were winning trades or not to produce a win rate percentage. You place your stop loss at swing low for a buy and at swing high for a sell.

 

[Lord Flasheart]

There was 100 trades that I back tested. Out of those 100 trades 78 were winning trades and 22 were losing trades that means this strategy has a 78% win rate in 100 back tested trades. I didn't take notice of amount of points that the DOW moved in each trade nor set a stop loss for each trade. I just looked to see if they were winning trades or not to produce a win rate percentage. You place your stop loss at swing low for a buy and at swing high for a sell.

My point is that it's so easy to find a system that is 78% accurate but not if you apply stops and targets. It completely changes the dynamic of the trade.

 

[batsonar]

My point is that it's so easy to find a system that is 78% accurate but not if you apply stops and targets. It completely changes the dynamic of the trade.

Yes I understand what you are saying. Live trading is going to be different. I don't use a risk to reward ratio as such although I do use a stop loss. What I do is let my trades run that is I exit a trade on the next buy or sell signal that is given by my indicator.

 

[Lord Flasheart]

Yes I understand what you are saying. Live trading is going to be different. I don't use a risk to reward ratio as such although I do use a stop loss. What I do is let my trades run that is I exit a trade on the next buy or sell signal that is given by my indicator.

Add in a good plan, stick to it and you may be ok

 

[TEAMTRADER]

Here is a spreadsheet that automatically tells you what amount to trade the following day.
Pressures are great in the day trading community and certainly there will be times when you want to 'double-up' to cover losses but if you stick to your plan and this spreadsheet it will keep you out of trouble.
It progesses for one month to give you confidence in your system - whilst you may make a small daily loss occasionally, you should NEVER EVER make a weekly loss - a key factor in day successful trading.
TEAMTRADER

 

[batsonar]

The closing price of the DOW Jones on Tuesday and 6th September 2022.

 

[batsonar]

The "SELL" signal I gave in post 1597 for Friday 2nd September 2022 turned out to be correct and the DOW Jones fell by 170 points today. Support level round about 30,000.

 

[batsonar]

I have been experimenting with one of my indicators on the trading platform I use. It's called the MVMF indicator. I just back tested it on the daily time frame of the Dow Jones (US 30) from a 20th April 2018. There were 206 trades in total. 145 were winning trades against 61 losing trades which means that this strategy has a win rate of 70.39% which is quite impressive. I will be now using the MVMF indicator on the daily time frame to give signals and I will be posting them here.

 

[Lord Flasheart]

I have been experimenting with one of my indicators on the trading platform I use. It's called the MVMF indicator. I just back tested it on the daily time frame of the Dow Jones (US 30) from a 20th April 2018. There were 206 trades in total. 145 were winning trades against 61 losing trades which means that this strategy has a win rate of 70.39% which is quite impressive. I will be now using the MVMF indicator on the daily time frame to give signals and I will be posting them here.

Great stuff but this is not a true indication of it's performance. Once you put in a stop and target it will all change. It could be better. Look at +20 or -20 pips and see what happens then..sorry to moan but it really gets to me when(not you) vendors/mentors claim their signals are 90% accurate etc. I have an indicator that is 100% accurate. Just trying to help.

 

[batsonar]

Great stuff but this is not a true indication of it's performance. Once you put in a stop and target it will all change. It could be better. Look at +20 or -20 pips and see what happens then..sorry to moan but it really gets to me when(not you) vendors/mentors claim their signals are 90% accurate etc. I have an indicator that is 100% accurate. Just trying to help.

Yes I agree with you. I find knowing where to place a stop loss is a problem for me. I only trade at the end of the trading day on the DOW Jones. The 70.39% win rate was for the next trading day after I had a signal from my indicator. In other words 70 out 100 trades were correct on predicting which way the DOW would move the next trading day.

 

[Lord Flasheart]

Yes I agree with you. I find knowing where to place a stop loss is a problem for me. I only trade at the end of the trading day on the DOW Jones. The 70.39% win rate was for the next trading day after I had a signal from my indicator. In other words 70 out 100 trades were correct on predicting which way the DOW would move the next trading day.

Thats a good place to start