CCI Pattern Recognition for Woodies

[snaphook]

CCI Panel

Sorry about that ali. The Forecaster is fine, the Panel is old. Try this one. I will stasimul409

[snaphook]

CCI Panel

Sorry about that ali. The Forecaster is fine, the Panel is old. Try this one. I will start packaging the two together to avoid this problem.

[tomek001]

That worked for me. Thanks Snaphook

[aligator]

Thanks Snaphook, It Works great now. A couple of questions: Is the SS signal similar to woodies new SS and/or Flatfoot? Also, does the expansion of the SS bands in the new forecaster mean there can be an optimized size for the bands, If so, are the default band values optimized? I am trying to understand the logic behind expanding the band range.

Appreciate all your great work!

[bk1010]

aligator, I was wondering if your cci indicator is working with NT 7.03 beta, and service pack 1, or have you not upgraded? Thanks

[snaphook]

ali,
I have yet to figure out the params for Woodie's SnS trade. The S in the Forecaster is similar but is based on the old Slingshot which requires a hook. The SnS trade does not seem to require a hook. I plugged in default values based on the direction the wind was blowing that day. You will need to play with them to see what gives the best results.

bk,
I am still in the stone ages running 7.03 on XP and it is fine.

[bk1010]

Thanks Snaphook

[aligator]

aligator, I was wondering if your cci indicator is working with NT 7.03 beta, and service pack 1, or have you not upgraded? Thanks

bk1010,

Upgraded and It works fine with NT 7.03 beta and service pack 1.

[aligator]

Thanks Snap.

[bk1010]

snaphook, Is the new cci panel you posted combined with the forecaster, and if so, is it in the indicators list? Thanks

[bk1010]

snaphook , any answer?

[joao30]

Hello,

What kind of settings are you using as time frame for the charts?

I´am using a 5 range bar but I use 3 different charts, one 377Volume, one 987Volume and the 5range with wcci. I first determine the trend on the longer time frame chart and then go too the 377Volume chart where I put in the pivots of the day, trend lines and I have the ema34 on it and a longer term ema that is corresponding with the 34EMA from the 987chart. I look for major support and resistance areas and and when price reaches this areas I then goo too the 5range chart with wcci to determine the entry.
I always trade with the trend of the longer time frame.

And what about the settings of the wcci panel v7? what are the best settings?

Best regards,
Joăo Soares

[aligator]

Hello,

What kind of settings are you using as time frame for the charts?

I´am using a 5 range bar but I use 3 different charts, one 377Volume, one 987Volume and the 5range with wcci. I first determine the trend on the longer time frame chart and then go too the 377Volume chart where I put in the pivots of the day, trend lines and I have the ema34 on it and a longer term ema that is corresponding with the 34EMA from the 987chart. I look for major support and resistance areas and and when price reaches this areas I then goo too the 5range chart with wcci to determine the entry.
I always trade with the trend of the longer time frame.

And what about the settings of the wcci panel v7? what are the best settings?

Best regards,
Joăo Soares

Joao, your setup has too much information to watch. The wcci is a momentum indicator and you need more than 5 range bars to establish momentum. Let's say you trade TF, all you need is a simple 15 range bar chart with the wcci, wcci_panel, and Forecaster plotted. You can have a 34 ema plotted, but you don't really need it since it is already built in the forecaster and you are trading momentum not the trend anyway (you don't even need price bars either). You can put daily pivots for S/R. Then trade the signals generated by the forecaster. The point is to keep it simple so you don't have to guess, just trade the signals. The key is money management to succeed.

[joao30]

Hello aligator,

I have looked at a 15 range chart for the 6E but it is not so impressive. You need a stop of +-17 points per trade and in average you get 15-20 points out of a winning trade so the win ratio is in some casses below the 1 and that is not a good money management.

My system is not so difficult. I start in the morning to look at the 987Volume chart only to see what the trend is and to see some support and resistance points. The rest of the day I don't look at the 987V chart. In the 377V chart I put in the major support and resistance points and I put in the pivot point for the day. The 377V chart is the chart that I look at the hole day so I don´t look at 987V and don´t look at the wcci chart. If I see price reach major resistance or a break out of the price I then begin to look at the wcci chart for an entry. That entry is close to the resistance, support or EMA34 so we can use a tight stop. I always look for trades that are giving me a win ratio of 1:2 minimal.

I think that chart analysis is a really important step in trading. You can look at the chart and it will speak to you!

[joao30]

PS. Is this working in Ninjatrader verrsion 7.0.1000.4?