Asi trendline strategy! - page 10
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Hi kinjaheed,
So, James the Giant improved Welles Welder's system. No one could improve since 1978. Yes, it is 5 minutes to do to improve just looking on the chart and say "it is good!"
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It is trendlines based on 8 bars back (drawing based on 8 candles):
and same chart with trendlines based on 15 candles back:
MaksiGen Trading system (light Paramon):many veriations of the system is here, examples of market condition is in the end of this thread.
And it is Channel Trading system for M5 timeframe.
yes, I also traded it on demo and live.
It was posted on the forum.
Same - trendlines and support/resistance lines:
Nothing by hand job - all the lines are drawing automatically by indicators.
So, James the Giant improved Welles Welder's system. No one could improve since 1978
Hi newdigital,
I see your point, and there are allot of other trendline systems and channels systems just as you pointed out, "many others similar on the forum" like you said on first page of this thread. And many thanks for that.
One observation that intrigues me of this suggested strategy is the manual interaction that is required between that of manually drawing trendlines and that of custom indicator. It was in 1978 a "new concept", and today could be a concept for traders such as James who, like doing things in old fashion way (drawing trendlines) but at the same time enjoy the custom indicator that is automatically calculated for them with software. Kind of a hybrid between that of old and new. Perhaps James had this in mind on his gann mtf system which requires the parameters to be constantly adjusted according to the readings of another indicator (again interaction). You can argue a point that programs can do these things for you, and you could be right. I can not possibly debate this, because I only know one side, that of a trader not programmer.
That is just what I found to be interesting and creative to me. But what I might think is creative might also be "old news" to someone like you who has many more years experience. Anyways, thanks again, I look forward to looking at the above systems you pointed out!
FROM: Kinjaheed
Hi kinjaheed,
I do not dispute about.
I just saw that you saved this thread and this idea by your previous posts so thanks for that.
I just wanted to say that drawing trendlines can not be random as it is always based on some bars back.
i guess this is a good example of the usage of ASI...it is 4H AUDNZD chart...and the bottom resistence is broken...and it is a good position for SELL...at least i think so...
i guess this is a good example of the usage of ASI...it is 4H AUDNZD chart...and the bottom resistence is broken...and it is a good position for SELL...at least i think so...
This is a good example, especially after taking a quick look at the Daily. 1 Hr looks like anything can happen though.
james i hope you saw this...GOLD H4 chart...and i guess it is the C wave of Elliot wave theory...and is supposed to go deeper than the A wave...it is also a good place for SELL (i think so)
mouteklinenextgen_changed
I do not dispute about.
I just saw that you saved this thread and this idea by your previous posts so thanks for that.
I just wanted to say that drawing trendlines can not be random as it is always based on some bars backhi newdigital,
I know you didn't dispute, I guess I just didnt understand, sorry....
but now I do.....
I think this mouteklinenextgen_changed alows to adjust the number of trendlines drawn (showing steps) and also adjust how many bars drawn back (fractal of level),,,,,,?
I'm trying to find the right settings that might work for this strategy, in this picture I set (showing steps=1) and (fractal of level=1) and it looks pretty good, but I won't know until the market is open
thanks
hi guys...
As james pointed out in the name of the thread we shud be looking for solutions or indicators which draw trendlines on the ASI indicator.As known it was basically designed to eliminate the fake breakouts..Sometimes when u draw trendlines on the chart,and when the price breaks that line,after a while it again moves back to the level before breaking the trendline...
i have got two pictures below..they are from (M30) AUDUSD pair ...When u daraw a trendline on the chart , u can easily notice that there are two fake bereakouts.But if u adraw the same trendline on ASI you can see tahat there are no breakouts/signals for SELL...
So instead of improving the trendline drawer (on the chart) indicators there shud be done some other things like :
- ASI shud be improved to be shown on the cahart window instead of remaining as a sub-window equipment
-Trendline indicators shud be improved in order to draw trendlines trendlines on ASI ITSELF....Then we can make great use of ASI and eliminate fake signals...
regards....
As I remember from the theory (which I also used in practics) - trendlines (and any support resistance lines) can be fake broken 2 times before real breakout, or just ... without breakout.
This "2 times" are written in many sources and it is well-known situation: almost everyone who is trading support/resistance or using it for some analysis - knows it. I also used this theory when trading maksigen for example.
So, to say that if the price broke trend line by next/previous candle and because of that we can consider it as a buy or sell signal - it is totally not true/wrong.
Just practical evaluation.