Trading The SPI - NON-Gann Techniques
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professor_frink
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evening prof frink,
the chart runs 24hr, not just a daily, and the bars are of a range, so each bar has to print eg: 6,12,18 etc range before a new bar is printed..so it depends on how you set the ranges up on your chart..on scalping on sc i use a 1 range bar..you can use what no that you like for your bar to print before it moves on.
fd did a lot of work on range bars, and made me, and quite a few others aware of them i am sure
about range bars..
Nicolellis Range Bars were conceived in 1995 by a Brazilian broker and trader - Vicente M. Nicolellis Jr.
During 13 years running a trading desk in Sao Paulo, where local markets tend to be volatile, he wrestled with the problem of how to handle this volatility and its variability. Finally he concluded that the most promising approach would be to eliminate time from the equation, and just concentrate on price.
After all it is price that you trade (rather than time, unless it is an options market).
Essentially this reverts to the early days of Technical Analysis, and the use of Point an Figure Charts which just record price changes.
By using a constant range, ex. 10, and opening a new bar once that range is covered, one can also apply modern concepts of indicators, which are bar based.
In 1996 the concept was computerized, which meant that many more markets could be studied.
Experience in the last 8 years has shown that Nicolellis Range Bars are particularly good at focusing on and clarifying movement.
The way in which a long meandering, horizontal "congestion" is condensed into a bar or two, concentrates attention on the essential underlying price movement while eliminating unnecessary "clutter" and "noise".
This also makes the use of Trendlines easier.
hope this is of some help..
ac
the chart runs 24hr, not just a daily, and the bars are of a range, so each bar has to print eg: 6,12,18 etc range before a new bar is printed..so it depends on how you set the ranges up on your chart..on scalping on sc i use a 1 range bar..you can use what no that you like for your bar to print before it moves on.
fd did a lot of work on range bars, and made me, and quite a few others aware of them i am sure
about range bars..
Nicolellis Range Bars were conceived in 1995 by a Brazilian broker and trader - Vicente M. Nicolellis Jr.
During 13 years running a trading desk in Sao Paulo, where local markets tend to be volatile, he wrestled with the problem of how to handle this volatility and its variability. Finally he concluded that the most promising approach would be to eliminate time from the equation, and just concentrate on price.
After all it is price that you trade (rather than time, unless it is an options market).
Essentially this reverts to the early days of Technical Analysis, and the use of Point an Figure Charts which just record price changes.
By using a constant range, ex. 10, and opening a new bar once that range is covered, one can also apply modern concepts of indicators, which are bar based.
In 1996 the concept was computerized, which meant that many more markets could be studied.
Experience in the last 8 years has shown that Nicolellis Range Bars are particularly good at focusing on and clarifying movement.
The way in which a long meandering, horizontal "congestion" is condensed into a bar or two, concentrates attention on the essential underlying price movement while eliminating unnecessary "clutter" and "noise".
This also makes the use of Trendlines easier.
hope this is of some help..
ac
professor_frink
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Ok gotcha
I was a little confused by the way you worded it. I thought you might have been talking about range bars that incorporated some form of time analysis in there somewhere
I was a little confused by the way you worded it. I thought you might have been talking about range bars that incorporated some form of time analysis in there somewhere
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not good at explaining, could never be a teacher
but talking about time, the ML's go into time..
and you can use them on all things
ac
but talking about time, the ML's go into time..
and you can use them on all things
ac
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professor_frink
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not good at explaining, could never be a teacher
but talking about time, the ML's go into time..
and you can use them on all things
ac
It's all good ac. Don't think I'd make much of a teacher myself
good morning all,
hope you picked a winner at the Melbourne cup yesterday
today's road map
have a great day, and good trades to you all
ac
Had my eye on the 80-82 area myself this morning, and considering the gap we had, was pretty confident of it being tested pretty quickly after the open. Oh well, it went far enough down for stops to come into BE for me, so no real harm done
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morning all, prof frink,
once she broke the 82 she was gone, she tried hard enough to hold up.
today's road map, plus another chart to look at..
big gap left above, doubt that it will be filled today..
have a great day, and good trades.
ac
trying to load the two charts together..will see if not overloaded, if so will re do
once she broke the 82 she was gone, she tried hard enough to hold up.
today's road map, plus another chart to look at..
big gap left above, doubt that it will be filled today..
have a great day, and good trades.
ac
trying to load the two charts together..will see if not overloaded, if so will re do
Attachments
professor_frink
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morning all, prof frink,
once she broke the 82 she was gone, she tried hard enough to hold up.
today's road map, plus another chart to look at..
big gap left above, doubt that it will be filled today..
have a great day, and good trades.
ac
trying to load the two charts together..will see if not overloaded, if so will re do
morning acouch,
was very surprising how well we held up during the day session yesterday considering what was going on with the nikkei and ES.
Won't be looking for a gap fill either today, though do expect a decent rally in the morning session, especially if there is a gap down from the sycom close.
The second chart you posted- what are the thin dotted lines in between the median lines?
Trembling Hand
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Will be a tough day. The ES is still in free fall. US dollar getting a good beating against the Yen but looking strong against all else. Will it continue to run and knock the way to hot commodities (oil, gold etc) and really mess up our market over the next couple of days.
Or will all the Pavlov traders start salivating at lower prices for an entry to the Santa rally? Our close could be a good tell as to the "players" thinking for the silly season.
professor_frink
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Trembling Hand
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welcome back trembling hand
Hope you had a good holiday!
Thanks. It’s nice to be back. Although I think I have contracted SARS or Bird Flue so I may not be around for long :flush:
