Excellent.. mind to share your screenshot(s)?
Nice to read such post...
Very interesting picture...
Hi Raff, what is that? your new indicator? new system?
OK, if you don't laugh at my approach:rolleyes:
I don't use VQ alone. I use two copies of it (3313 and 5313) and in combination with AscTrend and MACD. I have to have agreement on AscTrend and both VQs, and MACD is just an additional confidence builder.
I've figured how to use iCustom with the VQs to determine line color (red, green, transition/arrow) and AscTrend (red, blue, green [neutral]) as well as MACD (signal and trigger) with iMACD.
So when I get the 2 VQs and AscTrend in agreement, then I generate an Alert (75% confidence). When I get that with a MACD agreement, I generate an Alert (>75% confidence). I also continue to get the VQ alerts, which keeps me on my toes that something may be coming up.
At least for the last few days, these have given me a few minute head start on big moves.
Wish I hadn't missed the big move just before London Open, but the system worked.
I have been using this indicator in a similar was as you do 67-17454. In the screen shot you provided there is some type of price channel (big dot then a channel of smaller ones) in your chart. Which one is that and would you mind posting it here? Thanks, and your system looks very good.
I think you're talking about the blue (uptrend) or red (downtrend) lines above/below the price. That's part of the AscTrend. A large red or blue dot represents a change in trend. The smaller ones are supposed to represent stop-losses, but I never use them for that. I use a different S/L approach - but you could use them as a reference when to move your S/L.
The large dots I use for flags, the smaller ones just for continuation.
Usually before a change in trend, the bars go from red/blue to green [neutral/uncertain]. That's what I key on as a possible change in direction more than the little dots.
If I haven't answered your question, help me to understand it a little better.
Thanks 67-17454... Could you post he one that generates those anyway. I have ASCTrend but mine just paints the bars.
Also, how do the two versions of the VQ indicator you are using differ? Thanks again 67-17454.