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Profile: traderlady
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User Name: traderlady
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Joined: Thursday, October 07, 2004
Last Visit: Thursday, September 21, 2017 12:29:42 PM
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Last 10 Posts
Topic: A Support & Resistance Story Problem
Posted: Wednesday, September 20, 2017 1:13:22 PM

Yes, that is helpful.  I am not actually counting, just finding 1-minute S&R that takes place over three consecutive bars. 

Can't do this with just two bars as the occurrances are much too frequent.  For agile trades at the open, the three bars seem to work.

Maybe it's because the market has been slow yesterday and today. 

We'll see as I continue to experiment and test with the combos you've provided.

Thanks!

 

Topic: A Support & Resistance Story Problem
Posted: Wednesday, September 20, 2017 1:08:59 PM

I see the error of my ways in using AOBC as an example for today.  The trade I described actually took place in the last half hour yesterday.  (Forgot to be in real-time streaming.)

Topic: A Support & Resistance Story Problem
Posted: Wednesday, September 20, 2017 12:48:19 PM

I am placing these 3-bar-S&R-patterns as Custom PCF % True on my chart.  Each 3-bar-S&R pattern would probably have to be placed as a separate plot (or on a separate chart).

 

A SECOND EXAMPLE IS AOBC TODAY:

Following a True Doji in the last hour yesterday, on a 1-minute chart AOBC opens up strongly with a higher Volume Bar than yesterday's closing 1-minute Volume Bar.

Assumed Intraday Entry is at 1-minute candle #2 at $15.275 (mid-candle). 

Exit Signal is the 1-minute Support & Resistance Line formed at 1-minute candles ten through twelve.

Candle #10 closes at $16.14.  Candle #11 also closes at $16.14.  Candle #12 opens at $16.14.

Thus, we again have the magic three candle Support and Resistance Line as our Exit Signal.

Assuming an Exit at the next 1-minute candle (candle #13) at $15.90, our profit is estimated at $0.625 per share.

 

IN CONCLUSION:

The TROX three-bar-S&R-pattern is:

C2=O1 and O1=O (all equal at $22.07)

Whereas the AOBC three-bar-S&R-pattern is:

C2=C1 and C1=O (all equal at 16.04)

We have two of the 3-bar-S&R-patterns that are possible as examples, but there are other combinations of three bars that can make up S&R levels.

I haven't figured all of them out, and am hoping you can help me with this conundrum of how many combinations are possible.

 

Topic: If Only...
Posted: Wednesday, September 20, 2017 12:21:40 PM

Okay that won't work.  But I've another idea that does work.

 

Topic: A Support & Resistance Story Problem
Posted: Wednesday, September 20, 2017 11:41:39 AM

Not $25.425 (A typo), but...

Between the mid-range entry at $22.925 and this Support & Resistance Line at $22.07, the potential profit is already $0.855 per share in ten minutes.

Topic: A Support & Resistance Story Problem
Posted: Wednesday, September 20, 2017 11:37:13 AM

Let's take a look at TROX on a chart set the Hourly.  From 3:00 to 4:00 PM EST yesterday, the Open was $23.39 and the Close was $23.38 (a very-near-Doji).

Now let's switch top a chart set to 1-minute.  See the large move down on the first 1-minute candle -- as well as the large Volume.

Let's suppose that a agile intraday trader sees the Exponential Moving Averages spreading down (34, 21, 13, & 8)  -- and s/he dares to go short at the mid-range of the second 1-minute candle  ($22.88 & $22.97) -- about $22.925 per share.

The math: 22.88 + 22.97/2=22.925

Now the question becomes where to exit?  And possibly quickly!

Now please focus on the tenth through the ninth through eleventh 1-minute candles.

Notice the Support/Resistance Line that has formed between these three candles.

The Close of candle #9 is $22.07.  The Open of candle #10 is also $22.07.  The Open of candle #11 is $22.07 as well. 

VOILA!  (There it is!)  An extremely short-term Support & Resistance Line -- but so what!

You're aware that Price has pulled away from (below) your moving averages.  (Good.)

Between the mid-range entry at $25.925 and this Support & Resistance Line at $22.07, the potential profit is already $0.855 per share in ten minutes.

I would like to place a Custom PCF on my 1-minute Chart to alert me as to this Support & Resistance Line.  So, I can code this and place it on my chart as this:

C2=O1 and O1=O

Now, why did I go to all this trouble to write this narrative?

Well, it's because I need Bruce, again.

Between the Opens and the Closes (not even considering the Highs and the Lows), there must be many combinations of how things can work over a three day period.

Is there any way you, Bruce, can codes these possibilities?

Thanks again for your brain power, Bruce.

Sincerely, traderlady

Topic: If Only...
Posted: Wednesday, September 20, 2017 10:34:55 AM

My intraday trading wish is to be able to quantify price action in the last hour of trading yesterday. 

An unchanged numerical value for Open to Close during the timeframe from 3:00 to 4:00 the day before is what I am seeking.  This would need to be as a Column -- and/or as an indicator that could be put into an Easy Scan.

As it is now, I use an Hourly Chart to visually scan yesterday's last hour's Candle. I am focusing on finding Dojis or small candlestick bodies. My experience has been that these result in profitable morning trades.

I am thinking this is not possible in TC now, but would appreciate passing this on to those who consider adding worthwhile features to TC.

Do you have an opinion about the likelihood of this quantification becoming part of TC, Bruce?

 

 

Topic: Copy to Layout Group to a Flash Drive?
Posted: Friday, September 15, 2017 2:01:17 PM

Thanks.  That's what I've done previously.

Topic: Copy to Layout Group to a Flash Drive?
Posted: Friday, September 15, 2017 1:55:19 PM

Bruce, I am scheduled to give a presentation to my Seattle TC Users' Group tomorrow.

Perhaps you know if it's possible to copy one Layout Group to a flash thumb drive.

If so, any instructions. 

I am using Windows 7.

 

Topic: Wick Pressure
Posted: Monday, September 11, 2017 2:54:52 PM

I've noticed at other times that when I've worked on and changed things while the market is open, sometimes an issues resolves after the market close or by the market open ( can't remember exactly).

Also can't remember exactly what I've worked on when this happens.  Could be PCFs, Easy Scans, Columns, or Charts...

I will contact tech support if this continues.

Thanks for your PCFs and advice.