Corona Charts by J.Ehlers - page 3
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Hello Igorad,
thank you for keepin on good work. Just to tell you when i load a template with dashbord on a new currency it keeps print of the one used when the tpl is saved (ya know like some objects on the chart); or may be it's me.
Hi all,
this is a hopefully simple explaination of how to use the Corona indicators. Well this is how I'm using them.
First of all I'd like to thank Igorad for coding them and I have to say that as usual he's done a great job on them.
All together the 4 indicators give you an overview of the pair in a specific time frame. In particular they tell you if the pair is in trend or not. If it's not in trend then it can be moving cyclically or not. So we can trade the pair in two ways... trend following or swing trading using the cycle period.
The first thing I look at is the Signal to Noise indicator (CoronaSNR). If the indicator is below 6 and the indicator has a "corona" around then it means that the pair is trending. If the SNR is below 4 the trend is stronger.
It doesn't tell you in which direction the trend is but if there's a trend or not.
So we got two options: trading or "ranging".
In case of a ranging pair we look at the Trend Vigor indicator for a confirm. If the TV is between -2 and +2 then we got the confirm we needed to say that the pair is in cycle mode.
At this point we look at the Swing Position indicator and we sell on peaks and buy on valleys. Better if the Swing Position indicator hasn't got any corona (meaning a more clear cycle is in action). In this case you can also use the Cycle Period value to "manually" predict next peak/valley.
In case of SNR showing a trending pair, instead, we start to watch the direction of the Trend Vigor to understand in which direction the trend is going. Sometimes the TV tends to be a little "predictive" so you better wait for the Swing Position to show a change in trend before entering the trade. Another confirm comes from the SNR going below the 4 level.
I hope this clears a little how to use them. At least this is how I'm using them accordingly to J.Ehlers writings. Maybe it's a little too simple but those are the basic rules I use.
I personally look at them on a multi time frame base as that way I have a general overview (using the daily) and them move down to H4 and then trade the 1H. For two reasons: reliability of the signals (higher time frames usually give better signals), and time (I'm very busy and don't have time to trade lower time frames).
The Corona Dashboard is a great help for MTF trading. Attached is a screenshot of my "corona" template.
AndreaSomehow, despite my big expectations from the Corona indicators, I'm not impressed by the outcome. For example, bellow is the SNR -- it is below 6 and has substantial "corona" and it is not trending at all.
Examples exist showing that all the other Corona indicators violate these rules.
In other words, I fail to see any consistent behavior of these indicators.
I'd be happy to hear from anybody who is using them profitably and able to attest to some consistency here.
I would be surprised if these indicators are identical to those sold by Ehler.
Is there anybody here who can show us some screen shots comparing the two?
Thanks,
- Trendick
Somehow, despite my big expectations from the Corona indicators, I'm not impressed by the outcome. For example, bellow is the SNR -- it is below 6 and has substantial "corona" and it is not trending at all.
Examples exist showing that all the other Corona indicators violate these rules.
In other words, I fail to see any consistent behavior of these indicators.
Thanks,
- TrendickI am using i-var(variance ratio in mql codebase ,the coder is ilnur) jurik cfb and FGDI instead .I find them much more reliable.
i-var & FDGI
I am using i-var(variance ratio in mql forum ,the coder is ilnur) jurik cfb and FGDI instead .I find them much more reliable.
Hi Biddick,
Where can I find the i-var and FDGI indicators (would it be possible for you to attach them?), and how do you use them?
Regards,
Trendick
Both indicators are recently popularized by John Last (optimized trend trading in ff and Digital ACSTrend thread here in TSD) : Variation Index - MQL4 Code Base MQL4 Code Base: expert advisors, custom indicators, scripts and libraries
Addition to above deviation oscillators in advance elite are pretty good .Regards.
Both indicators are recently popularized by John Last (optimized trend trading in ff and Digital ACSTrend thread here in TSD) : Variation Index - MQL4 Code Base MQL4 Code Base: expert advisors, custom indicators, scripts and libraries Addition to above deviation oscillators in advance elite are pretty good .Regards.
Biddick, thanks very much for the links.
The variation index looks interesting. The hurst and fractal dimension are not entirely consistent.
Regards,
Trendick
Addition to above deviation oscillators in advance elite are pretty good .Regards.
Whar are the names of these indicators from advanced elite?
Hi Trendick,
I have been using the Corona Cycle period in some of my indicators for quite some time and I find it very useful but there are limitations. It works best on daily and weekly time frames and perhaps 4H as well but I tend to look for cycles on a daily chart. Part of the problem is that it is constrained to a maximum of 30 periods and Ehler did this for a reason. According to Ehler anything above 30 periods he considers a trend. Now if you consider that for the most part indicator length should be set to half the dominant cycle you are looking at perhaps a range of 4-15 periods for the half cycle. When I was looking through his work as it is published on his site, I don't think he ever mentions this being useful on anything less than daily data.
In practice, when the market is trending the cycle period will max out but with a value that is tradable on longer time frames. If the indicator was extracting a much larger range it would probably become very difficult to use because of how abruptly it can change values. Still when there are cycles that fit within the indictors range, I find that it works pretty well.
The biggest problem on lower timeframes is finding persistent cycles and then dealing with noise and the fact that Mesa, FFT / Goertzel or any other form of cycle extraction will extract a cycle from a time series even when one does not exist.
regards,
Alex
Hi Trendick,
I have been using the Corona Cycle period in some of my indicators for quite some time and I find it very useful but there are limitations. It works best on daily and weekly time frames and perhaps 4H as well but I tend to look for cycles on a daily chart. Part of the problem is that it is constrained to a maximum of 30 periods and Ehler did this for a reason. According to Ehler anything above 30 periods he considers a trend. Now if you consider that for the most part indicator length should be set to half the dominant cycle you are looking at perhaps a range of 4-15 periods for the half cycle. When I was looking through his work as it is published on his site, I don't think he ever mentions this being useful on anything less than daily data.
In practice, when the market is trending the cycle period will max out but with a value that is tradable on longer time frames. If the indicator was extracting a much larger range it would probably become very difficult to use because of how abruptly it can change values. Still when there are cycles that fit within the indictors range, I find that it works pretty well.
The biggest problem on lower timeframes is finding persistent cycles and then dealing with noise and the fact that Mesa, FFT / Goertzel or any other form of cycle extraction will extract a cycle from a time series even when one does not exist.
regards,
AlexRead this one
http://folk.uio.no/eivindkv/ek-thesis-2003-05-12-final-2.pdf
It is alternative for Ehlers...
And here is some information about denoising data using Teager-Kaiser Operator (with denoising algorithm)
http://www.eurasip.org/Proceedings/Eusipco/Eusipco2000/sessions/ThuAm/PO3/cr1870.pdf
Addition to yours : Forex Factory - View Single Post - Optimized Trend Trading you may want to give us some more hint about how you use this "Teager-Kaiser Energy Operator" in financial time series.