Nice! Looks a lot like the Chop Zone Indicator (CZI) used with Woodie's stuff.
Just got PM from Igorad that he developed indicator similar with STIX (attached).
May somebody tell what is STIX?
STIX is a short-term trading oscillator that was published in The Polymetric Report. It compares the amount of volume flowing into advancing and declining stocks.
According to The Polymetric Report:
STIX usually ranges between +42 and +58.
If STIX gets as low as 45, the market is almost always a buy, except in a raging bear market.
The market is fairly overbought if STIX rises to 56; and except in a new bull market, it's wise to sell if STIX should go over 58.
Traders and investors should modify these rough rules to suit their own objectives.
In normal markets, STIX rarely gets as high as 56 or as low as 45, so rigid use of these rules of thumb would keep you inactive most of the time. For active accounts, the rules might be made much less stringent.
Extremely Overbought greater than 58
Fairly Overbought greater than 56
Fairly Oversold less than 45
Extremely Oversold less than 42
The following chart shows the S&P 500 and the STIX indicator.
I drew "buy" arrows when the STIX fell below, and the rose above, the oversold level of 45. I drew "sell" arrows when the STIX rose above, and then fell below, the overbought level of 56.
STIX is based on a variation of the Advance/Decline Ratio:
The STIX is a 21-period (i.e., 9%) exponential moving average of the above A/D Ratio:
ND can you tell me how the ChoppyBars indicator works? Blue is for Bullish, Red is for Bearish.. Yellow is for..... ??
So this STIX is almost as Demarker, right?
As to ChoppyBars indicator so Igorad explained me that we may buy on strong blue color and sell on strong red. Yellow is not trading. Also we may see the strength of the trade by color changing. It should work better on hogher timeframes. If we use this indicator on M15 or M30 for example so we should change the settings (optimize let's say).
I did not try this indicator live (just on historical data only).
This StepChoppyBars_v1.1 is using StepMA_v7 indicator and StepRSI_v5.2 indicator (attached).
Names (meaning) of the color in ChoppyBars indicator are the following:
MediumBlue: Strong UpTrend.
Crimson: Strong DownTrend
DodgerBlue: Retrace UpTrend
Tomato: Retrace DownTrend
LightBlue: Choppy UpTrend
Orange: Choppy DownTrend
Aqua: Be ready to change UpTrend
Yellow: Be ready to change DownTrend
I not sure how Demark would be used, but I would use STix like this..
When Market is Trending (Use VQ to find long term trend) then Buy/Sell in the direction of the trend ONLY -- when STIX extremes below or above 50.
So for example there is a a bearish trend, then you would never buy when STIX is below 50 this would more then likely only be a retracement. Instead you would wait for the optimum time to sell when STIX is above 50.
When the Market is consolidating/ranging buy/sell at any time when STIX extremes below or above 50.
It looks like a good indicator to use like this.
In the last days I have been trying to discover how www.tradingcentral.com draws Support and Resistance levels. Because that levels works damn pretty well.
The first thing comes to my mind was dynamic levels. However after a little test and error I discarded possibility.
The second think I thought was dynamic fibo zones, so, I opened (another) trial with fibonacci trader to be sure. But there are not fibonacci zones.
The third thing is manual drawing. But it´s strange for company which provides signals and strategies to other companies doing all work manually. The charts are updated every certain time, so, they must have some automation to make the process easier.
I´ve attached some pics to see what I´m talking about.
First one is for the NY morning, second is current.
Maybe somebody can see something that I missing and we can develop an indicator to automate the process.
They call the blue line the "pivot", red lines are support and green resistance.