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To answer another question
The position in question for tomorrow's open is (GMG). This candidate appears to have moments that we are trying to capture.
Skate.
Dump it Here
- Thread starter Skate
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The position in question for tomorrow's open is (GMG). This candidate appears to have moments that we are trying to capture.
Skate.
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Additionally, I've been asked
What steps do I take to ensure I am aware of any factors that may have spiked the volatility of a particular company?
Regarding this question, I have decided to adhere strictly to the signals generated by the (MACD-sv) trading strategy, without applying any subjective analysis. This is a conscious decision, as relying on subjective assessment can potentially lead to skewing the results. Maintaining this disciplined, rules-based approach allows me to better evaluate the effectiveness of the strategy itself, without introducing personal biases.
Skate.
What steps do I take to ensure I am aware of any factors that may have spiked the volatility of a particular company?
Regarding this question, I have decided to adhere strictly to the signals generated by the (MACD-sv) trading strategy, without applying any subjective analysis. This is a conscious decision, as relying on subjective assessment can potentially lead to skewing the results. Maintaining this disciplined, rules-based approach allows me to better evaluate the effectiveness of the strategy itself, without introducing personal biases.
Skate.
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Constructive Feedback
I've been receiving wonderful feedback on my (MACD-sv) trading strategy. One member has taken the time to compare their range of indicators, with my (MACD-sv) system for (ASX:GMG). It's great to see that our results are quite similar at times, yet dissimilar at other times.
One interesting point the member raised is that their indicators often signal a buy a day before my (MACD-sv) and at a lower entry price. Additionally, their indicators tend to keep them in the trade for longer, with a higher exit price than my (MACD-sv) system.
As the member mentioned, it's crucial to look for additional confirmation before entering a trade, a point expressed earlier by @DaveTrade. Currently, the member's indicators suggest that an entry tomorrow "11/6/24" would not be advisable, as more confirmation signals are needed before making such a move.
I truly appreciate the member's feedback and agree that having different perspectives is always valuable. I'm here to learn, and input like this helps me improve.
Skate.
I've been receiving wonderful feedback on my (MACD-sv) trading strategy. One member has taken the time to compare their range of indicators, with my (MACD-sv) system for (ASX:GMG). It's great to see that our results are quite similar at times, yet dissimilar at other times.
One interesting point the member raised is that their indicators often signal a buy a day before my (MACD-sv) and at a lower entry price. Additionally, their indicators tend to keep them in the trade for longer, with a higher exit price than my (MACD-sv) system.
As the member mentioned, it's crucial to look for additional confirmation before entering a trade, a point expressed earlier by @DaveTrade. Currently, the member's indicators suggest that an entry tomorrow "11/6/24" would not be advisable, as more confirmation signals are needed before making such a move.
I truly appreciate the member's feedback and agree that having different perspectives is always valuable. I'm here to learn, and input like this helps me improve.
Skate.
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@Skate I assume by the 'thumbs up' at the bottom of your post that the other member that you speak about is @DrBourse . I haven't tested his method but I've have had a look at the indicators he uses and how he uses them and it all looks like it would work very well, although it's a bit too complex for me. I agree with him that, for me, I would not enter this trade tomorrow because I would feel that I would be entering too late in the move, it may go further, I don't have an exit signal on this more yet but if you enter late and the move suddenly finishes with a pullback then you have another loss to suck up.
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@DaveTrade, there is a case to be made that the exit circled in the (MACD-sv) "bottom section" of the chart seems premature, but the momentum had stalled, potentially justifying the exit. It will be interesting to see how this trade signal ultimately performs.
Skate.
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Ahoy Dear Old Friend Skates
It is Great to see you playing around with Technical Analysis instead of Dividends , Franked , Half Franked and Fly-Buy carrots
You could also try a few other Technical Indicators IMHO
In late 1993 METASTOCK asked to see if their program would work in the new Windows '95
It worked Beautifully as you can see
I combined my 4 favourite indicators into ONE BINARY White line Ultimate Indicator
I Back Tested it in 100 years of Data
What do you think?
It is Great to see you playing around with Technical Analysis instead of Dividends , Franked , Half Franked and Fly-Buy carrots
You could also try a few other Technical Indicators IMHO
In late 1993 METASTOCK asked to see if their program would work in the new Windows '95
It worked Beautifully as you can see
I combined my 4 favourite indicators into ONE BINARY White line Ultimate Indicator
I Back Tested it in 100 years of Data
What do you think?
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@Captain_Chaza, your dedication to delving into the world of technical analysis is commendable. Your innovative approach of combining your preferred indicators across multiple time frames showcases a deep commitment to charting. Your adept handling of technical analysis, as evidenced by your thread, underscores your exceptional analytical skills.
Focusing On Variations of the MACD Indicator
Currently, my primary focus revolves around presenting information about the use of the MACD indicator in trading. The Moving Average Convergence Divergence (MACD) stands out as an invaluable tool for identifying trends and momentum, empowering new traders with a simple indicator to generate buy and sell signals. Presenting this information using free software is simply a bonus.
Value of Community Feedback
I find receiving feedback from fellow members greatly rewarding as our community thrives on shared knowledge and experiences, and your contributions certainly add value. Keep up the good work.
Skate.
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Sorry @Skate I missed reading the post correctly, I'm on holiday with my wife at Port Macquarie and am guilty of dividing my attention while posting.
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It would be interesting if anyone in this forum would code Captain Chaza's idea in afl format. I used to use metastock but due to its limitation I abandon this software. Now I am still learning and quite busy converting my old system to new platform. By the end of this week hopefully it will be done. By the way Skate, your MACD system looks nice and where can I find the detail for your indicator? 
maybe we can match it up with other indicators and a different exit strategies
maybe we can match it up with other indicators and a different exit strategies
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@bettamania, TradingView offers a comprehensive suite of technical analysis tools, including the MACD indicator and MACD trading strategy, as part of its free software package. The MACD (Moving Average Convergence Divergence) is a popular momentum indicator that can be easily accessed and utilised by traders directly within the TradingView platform.
Move detailed information can be found here: https://www.tradingview.com
In addition, TradingView offers both an internet-based version and a desktop application, providing users with access to news, market data, and trading capabilities across a wide range of asset classes, including stocks, ETFs, cryptocurrencies, futures, and bonds.
Whether you're a beginner or an experienced trader, TradingView's comprehensive suite of tools and resources can be a valuable asset in your trading journey, helping you analyse the markets, develop your strategies, and make more informed investment decisions.
Skate.
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The Exercise: Trading 20 Top ASX-Listed Companies
The goal of this exercise is not to focus on the specific indicator used, but rather to demonstrate the process of following a signal generator. The key is to condition ourselves to accept and follow the strategy, regardless of the technical indicator employed.
In this case, I've chosen to experiment with a modified version of the MACD (Moving Average Convergence Divergence) indicator, which I'll refer to as the (MACD-sv) which is a twist on Spiroglous MACD-v indicator. The rationale behind this is to test whether a customised MACD-based strategy can produce viable trading signals that can be reliably followed.
As @DaveTrade pointed out, false signals can create significant grief when trading, as they often lead to "sucking up losses." However, the purpose of this exercise is to train ourselves to disassociate from the emotional aspect of trading and focus on strictly following the strategy.
The ultimate goal is to develop a trading approach that is less stressful and more profitable over the long run. Losses are a natural part of trading, and how we cope with them will ultimately determine the type of trader we become.
If the (MACD-sv) strategy proves to be profitable, that would be a bonus. However, the primary focus is on conditioning ourselves to follow the procedure without hesitation, regardless of the indicator used. Developing the discipline to trade with a detached mindset, where the money flows freely, is the key to success in this exercise.
Skate.
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I am almost certain the McD indicator that you've been using is a further development of a conventional McD. Am I right?
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Any hint for that?
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@bettamania, I was in the process of starting another trading exercise and was planning to use TradingView's in-house MACD Trading Strategy. However, when @peter2 suggested I look at Alex Spiroglou's MACD-v indicator.
I decided to code it from scratch based on the released white paper. To make it my own, I used a different measure for volatility and added momentum into the mix. Below is the chart that compares the in-house MACD to my customised chart. I've also included my modified (MACD-sv) indicator, which I turned into a trading strategy (MACD-sv), and this is the strategy I'm currently using for the exercise. I've made several posts discussing the MACD-v indicator and my (MACD-sv) Trading Strategy.
TradingView MACD
The chart below displays what the in-house MACD and what it looks like on a price chart
Skate's Modified MACD (Upper)
The upper chart below displays the in-house MACD, which I have customised and prettified, plotted on a price chart.
Skate's Modified Spiroglou's MACD-v (Lower)
The lower chart below displays my modified version of Spiroglou's MACD-v indicator, also plotted on the price chart. I've included both versions on the same graphic so others can easily compare the signals generated by each.
Skate.
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For anyone interested, you can use Chat GPT to code Pinescript (Trading View). It's not perfect but it has it's uses.
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@investtrader I've not found any (AI) model that can program successfully in TradingView or Amibroker. The primary issue with ChatGPT or other (AI) models lies in its failure to provide a meaningful responses. Instead, it fabricates an answer, leading to nonsensical or factually incorrect content.
This issue is particularly problematic when ChatGPT is used for tasks such as writing code. The model may invent non-existent function names, libraries, or other programming constructs, and incorporate them into its output. In most cases, the resulting code is flawed and unusable.
Skate.
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Wesfarmers at the open
Skate.
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no thank you
am nicely up on WES ( nearly $30 a share ) so will probably resist selling/reducing as well
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