I had a quick read through and it sounds very impressive. what do other people think? is it good? has an AE been done before based on this theory?
I thought it is similar to FractalsEdge software (which is what I am hoping). I have not heard of an EA, but would be interested in one if provided.
Is there a place I can download his book? You can PM me with it...
Any success in building an EA?
There are many different EAs for Williams rules. All of them are similar in one - losing money. Here it is the one of them - http://forum.mql4.com/ru/5289 . Look at the bottom - ID_1.mq4 (direct link http://forum.mql4.com/c/forum/2006/12/ID_1.mq4 - I'm not sure if it works from other sites)
The problem is some of his technical tools are really questionable. His fractal theory to me is quite flawed
and the Alligator is too subjective and not usable at all on lower timeframes in my opinion.
Even the AO (his best indicator) is just a variation of MACD.
None of his books are true books about 'Chaos' theory either. They are merely books about trading.
He makes some conflicting statements as well....e.g 'Traditional technical analysis doesn't really work' and
then goes on to describe AO which is just MACD in disguise. Right on.
Having said all that I still quite like them for the trading psychology/philosophy side of things....
I would not trade using williams and those theories. ...
Chaos Theory Overview Alligator and Gator Market Dimensions:
FractalsAwesome Oscillator (AO)
Acceleration / Deceleration Oscillator (AC)
Trading in the ZoneBalance Line Trades
Exit the Market Market Facilitation Index (BW MFI)
Bla, bla, bla. Its amazing how these sites show you the "perfect" uptrend and downtrend to show how you make tons of cash. Hmm. selling a book perhaps? Trading is about the first 2 hours of any market open and s/r. By the time you got this junk on your chart your account would be wiped out.
when these guys start talking about getting within 1 pip, thats the only time I would start listening.
If what all say is true of his system then I don't understand how anyone can say his book is invaluable. Do you think its still worth it for me to spend the money on his book?
from what i can tell, this is education and not a trading plan. There is plenty of education on the net...just my 2 cents . If you have more room on your shelf .. have at it .
Thanks for your enlightment of BW. I do agree with you wholeheartedly on others opinion of the book in amazon that it all depends upon where they are coming from. Based upon what you have said, BW presents trend, breakout and divergence is something that is proabably nothing more than variations of what is presented in these forums. I have read many books, some have substance while others are just selling a book that offers no value whatsoever whether it be forex or not. I guess what we are all looking for is something that is invaluable to forex that will offer potential methodologies and insights.
Thanks for your input