Jurik UT

[goldtraderx]

I would appreciate any comments or criticism from anyone using the Jurik indicators for Ninja Trader 7. I checked out their website and these indicators look very professional, I am interested in purchasing them but would like a 2nd opinion from a current or past user

 

[timsk]

Hi goldtraderx,
I'm a past user of Jurik indicators. They do what they claim to do and, if I had a methodology that relied on using one or more of the indicators Jurik supply, I would certainly consider using them again. However, there are two caveats. Firstly, they are expensive and, secondly, I seriously doubt that any trader will have an edge using these indicators that they don't have using the same or equivalent indicators provided by most charting packages. In other words, Jurik indicators aren't going to magically turn an unprofitable methodology into a profitable one.
View attachment Jurik Indicators.pdf
The file gives an idea of what they do that's different to standard indicators. Keep in mind that It's a sales tool and over eggs the pudding but, broadly speaking, I can verify that the basic claims are valid for the two indicators I used the most: JMA and RSX.
Tim.

 

[goldtraderx]

Hi goldtraderx,
I'm a past user of Jurik indicators. They do what they claim to do and, if I had a methodology that relied on using one or more of the indicators Jurik supply, I would certainly consider using them again. However, there are two caveats. Firstly, they are expensive and, secondly, I seriously doubt that any trader will have an edge using these indicators that they don't have using the same or equivalent indicators provided by most charting packages. In other words, Jurik indicators aren't going to magically turn an unprofitable methodology into a profitable one.
View attachment 145672
The file gives an idea of what they do that's different to standard indicators. Keep in mind that It's a sales tool and over eggs the pudding but, broadly speaking, I can verify that the basic claims are valid for the two indicators I used the most: JMA and RSX.
Tim.

Hi Tim
I just saw your reply, thanks for sharing your thoughts and ideas with me, what are the best settings that you would recommend for JMA and RSX, are these the only 2 indicators that you use

 

[timsk]

Hi Tim
I just saw your reply, thanks for sharing your thoughts and ideas with me, what are the best settings that you would recommend for JMA and RSX, are these the only 2 indicators that you use

Hi goldtraderx,
I don't use them any more and, indeed, haven't used them for a number of years, so I can't really help I'm afraid. All I can say is - that if I had a trading methodology that utilised moving averages and/or RSI, then I'd consider using the Jurik JMA and RSX respectively, as they are both very slightly 'better' than standard versions. By 'better' I mean nicer to use and to look at. But they are a luxury rather than a necessity and, as I said in my earlier post, I'd be extremely surprised indeed if anyone claimed they had a significant advantage or an improved edge as a result of using them. To use a driving analogy, a humble Ford Fiesta will get you from A to B but, if you had the choice, wouldn't you prefer to go in BMW, Merc' or whatever?
Tim.

 

[goldtraderx]

hi Tim
Thanks very much I understand quite well the point you are making, I use both indicators now and I do like them and have confidence in them. From the observation I have made so far they appear to be very reliable but I am always curious to find out what settings other users are using, However the user manual you provided does give many practical examples and ideas that can be expanded upon.

 

[timsk]

Hi goldtraderx,
I'm a member of StockCharts (SC) and I use their standard EMA set to 7. For my purposes, that does a half decent job of acting like the dashed line in the middle of the road. Generally, if price is above the EMA I'm bullish and bearish if it's below.

I don't use RSI, but there's quite a lot of stuff in the members' section of SC about using it on a very fast setting. Here's a mean reverting strategy posted in the public section of the site using the setting of RSI2

Marc Rivaland uses the slower (but still fast) period of 5 - applied to weekly charts for swing trading U.K. equities.

How about if you post some charts to this thread with a brief outline of why you've selected these two indicators in particular and what hope hope they'll do. Then invite members to comment and post their own charts with a similar explanation about their choice of settings?
Tim.

 

[Liquid validity]

Just use something like a short period (5-10 ish) TEMA or LinReg as input
instead of price.
All that does is give a smoothed price input instead of smoothing RSI by
increasing the RSI period.
The results aren't a million miles away from certain commercial indicators.

TBH though, personally, I think most indicators are of limited use anyway.
They are great when they work, and give back anything they make when
they don't work.
Price, or even smoothed price would be a better starting point.

Don't expect any indicator to be a magic solution,
most of the time they are worse than a cointoss.
At least a coin toss is truly random, whereas an oscillator will get killed
in prolonged trending markets, and vice versa for trending indicators.
A coin toss has no such bias in range / trend conditions.
For me, when and how you get in are more important than why...
How I get out is largely determined by unrealised PnL.