JTrader
Guest
- Messages
- 5,741
- Likes
- 507
Hi
Jan Arps free UST is downloable for all tradestation subscribers at Jan Arps website.
When I saw the indicator on the chart, read the instructions and watched the video demonstration on his website, I was amazed at the pin point accuracy with which the indicator seemed to pinpoint market turns up and down. It looked like a magic formula or "holy grail" to trading success. Look at this attachment -
However, I thought that there MUST be a catch (purely my own fault), and there was! I had misunderstood what the indicator actually does.
Having seen the UST in real-time it doesn't do what i thought it did.
I now see that it is not the holy grail to trading success that I was beginning to hope it might be
It does look very nice on the chart. But as an indicator of potential entries-exits, the signals do not correspond with the high and lows that are captured in hindsight within the UST chart graphics.
Using the UST in order to trade profitably would seem more difficult than i had hoped, and perhaps only 50% (a broad guess) of signals lead to the opportunity to catch a profit, judging from my limited 1 day experience of watching this indicator and recording the alert prices in the message center in action, on 4 different timeframes.
I had thought that if the price moved up to the red dot, or down to the blue dot, this signalled the reversal. However, when the price moves up to the red dot, this is the confirmation of the upswing, and when the price moves down to the blue dot, this signals the confirmation of the downswing - meaning that you get into the trade perhaps up to halfway through the move, and only know to reverse the trade perhaps up to halfway down the next swing, as opposed to at the exact top and bottom extremes which the indicator displays on the chart - a very pretty picture, but does not correspond with the points of entry and exit.
As has been pointed out to me - prices move in waves. An uptrend does not just go up. The majority of an uptrend will be up candles, but there are also down candles leading to mini pull-backs and reversals.
It would be a dream to be able to capture these waves/turning points as the UST on the chart screenshot appears to do. Perhaps developing an indicator that predicts these turns is beyond the realms of possibility :?:
However, its worth asking - does anyone know of an indicator or technique that will enable us to predict and capture these waves/turning points, and with greater accuracy than the UST :?:
I suppose you could use methods such as trendline breaks in order to generate signals that lead to a similar performance as the actual UST signals.....But is there an indicator, or technique that will signal the turns with greater precision, or does such a magic formula not exist :?:
Thanks a lot
Jan Arps free UST is downloable for all tradestation subscribers at Jan Arps website.
When I saw the indicator on the chart, read the instructions and watched the video demonstration on his website, I was amazed at the pin point accuracy with which the indicator seemed to pinpoint market turns up and down. It looked like a magic formula or "holy grail" to trading success. Look at this attachment -
However, I thought that there MUST be a catch (purely my own fault), and there was! I had misunderstood what the indicator actually does.
Having seen the UST in real-time it doesn't do what i thought it did.
I now see that it is not the holy grail to trading success that I was beginning to hope it might be
It does look very nice on the chart. But as an indicator of potential entries-exits, the signals do not correspond with the high and lows that are captured in hindsight within the UST chart graphics.
Using the UST in order to trade profitably would seem more difficult than i had hoped, and perhaps only 50% (a broad guess) of signals lead to the opportunity to catch a profit, judging from my limited 1 day experience of watching this indicator and recording the alert prices in the message center in action, on 4 different timeframes.
I had thought that if the price moved up to the red dot, or down to the blue dot, this signalled the reversal. However, when the price moves up to the red dot, this is the confirmation of the upswing, and when the price moves down to the blue dot, this signals the confirmation of the downswing - meaning that you get into the trade perhaps up to halfway through the move, and only know to reverse the trade perhaps up to halfway down the next swing, as opposed to at the exact top and bottom extremes which the indicator displays on the chart - a very pretty picture, but does not correspond with the points of entry and exit.
As has been pointed out to me - prices move in waves. An uptrend does not just go up. The majority of an uptrend will be up candles, but there are also down candles leading to mini pull-backs and reversals.
It would be a dream to be able to capture these waves/turning points as the UST on the chart screenshot appears to do. Perhaps developing an indicator that predicts these turns is beyond the realms of possibility :?:
However, its worth asking - does anyone know of an indicator or technique that will enable us to predict and capture these waves/turning points, and with greater accuracy than the UST :?:
I suppose you could use methods such as trendline breaks in order to generate signals that lead to a similar performance as the actual UST signals.....But is there an indicator, or technique that will signal the turns with greater precision, or does such a magic formula not exist :?:
Thanks a lot
Last edited:
