We were using it in combination with other indicators like Stochastics. Friday specifically. It's easier for me, perhaps, because I have two monitors. I can watch QCharts normally in one and QPnF in the other.
Been messing around with different time frames, box sizes, and reversals. Friday afternoon we just looked at a 5 minute chart with a 0.50 size.
Today I'm trying on 1, 5, and 30 minute charts with various box sizes. More on the 30, less on the 1 and 5.
My friend is working independently, he's using 1 minute and changing the reversal number a lot. I have all I can do to follow my own much less follow his.
It's hard to backtest, that's a real problem. Just because we were nailing it on Friday does not mean it's repeatable so we are trying to hit it from two different angles during the day and compare notes later. He uses the same stochastics and other indicators that I use, for the most part, so it's easy to visualize it and discuss it later.
His phone bill Friday must have been rather large, so at the moment we are just exchanging notes over the internet.
Another piece of it that helped me Friday was I "knew" where the Stops should be, roughly what the target could be depending on how the columns shaped up. I was Short at point, for example, and just moved the stop based on where there may be a chance for a Double Top to form.
Not such a piece of genius, but sometimes you don't visualize where the Doubles may be when working off a normal chart. That particular trade started having trouble in the low 40's and for whatever reason I pulled it out and killed the stop just before it rallied as I recall. I think it was something in the X/O pattern that I saw, but don't recall at the moment.
Anyway, what I was saying is that in combination with the indicators that we have been using and testing we had a better feel for when and where the Entries and Exits were. There was a late run up for example, and although Atin's program does not support drawing lines it was easy to see where the trend would change, so when the other indicators kicked in you knew to hold the trade because it went through a trend line.
Stuff like that.
EDIT
You know, I 'm using the New SI and cannot post this? I have to go back to the Classic one. I wonder what the excuse will be once that is no longer available.
EDIT
Yep, posted right away on the old version. |
