CCI Pattern Recognition for Woodies

[joao30]

Here you can see a trade that I took yesterday in the euro 6E.

You can see that the overall trend is down. At the open, price is going up but when it reaches the daily pivot price stalls. You can see that there is convergence in the rsi and there is some kind of head and sholders forming in the price patern and we have 3 resistances from EMA-LONGTERM, Pivot and the trendline break that is not holding so at this point you can look at the 5range WCCI chart and look for a counter trade patterns at this chart because at this chart we can see that we are in an up trend so that is why we are looking at a counter trend al the other signals we ignore. The trade that we are gone take is infect a trend following trade in the longer time frame.

This kind of setup is coming over and over again. It is always the same picture. At monday 14-03-2011 at 9:30 - 9:45 the same setup is happening but now it is going long.

So I think chart analysis is very important. You are trading price and not a WCCI value!
WCCI can help us to get a good entry because it works with patterns too. If you look at a setup and see someting is going to happen it is very fine to see the WCCI confirming that what you just have seen in the chart.

[Elmi]

Thanks Snap

[bk1010]

I did the download for ninja version 7.04 and lost all snaphooks indicators. Anyone else have this problem? Thanks

[joao30]

bk1010,

Can you try to import the indicators again into NT7.04?

I dit bot migrate to version 7.04 because of this.

[snaphook]

bk,
Look at the Log Tab and tell me if there is an error.

[joao30]

hello snaphook,

Do you have NT 7.04 installed? Does you indicator work in NT 7.04?

Best regards,
Joăo Soares

[snaphook]

New SS Test Indicator

I am posting this here as a beta. It runs fine under 7.0.1000.3, I have not yet gone to .4

I will confess that I traded Woodies for years, but have migrated away from it since I developed the Forecaster. As a result, I don't watch patterns from day to day and have been depending on you all for guidance. The SS is based on the old Woodies Slingshot which is well documented on the Internet, but actually triggers before the hook back. The official one in the Indicators forum triggers on the hook back. I understand Woodie is also now trading the old Plateau pattern which is also well documented. It is not included here, however.

If you want to use this, do so at your own peril. I have renamed it so you can have this and the old one on your charts together for reference.

I set the SS default params as best I could. You'll need to tweak them for your own use.

Good Trading to all

[bk1010]

joao30, I did the down load and the indicators were not there, I removed the version 7.04 and had to re load an older version. Are you using 7.03 beta with microsoft service pack 1 on your machine?

[bk1010]

Hi snaphook, I did not look at the log, I removed that version. Thanks for the help. Ninja has told me that these indicators have to be re-coded for SP-1. Thanks snaphook.

[joao30]

No. I´am using 7.02. I dit the same as you dit. Uninstall 7.04 than reinstall 7.02.

[bk1010]

jao30, thanks for reply, Are you using service pack 1 on windows 7? This seems to be a big problem. Thanks

[snaphook]

No. I am still using Windows XP SP3.

[joao30]

I´am gona try to install 7.04 in the weekend. I think we must uninstall the old version from NT and delete all the folders from the old NT too (Documents/NT7).

[joao30]

Hello,

I have just installed NT 7.04 and it is working with all the indicators.
You must first delete all the old files from NT.

Snaphook,
I know this indicator is written for range bars but is it possible to code it for Volume bars?
Then the signals are given after the bar has closed.


Best regards,
Joăo Soares

[snaphook]

joao30,
I don't know what Sidewinder0 value Woodie uses for volume bars. If you find out, simply change that variable to the necessary value and turn off the LSMA, CZ and SW forecasters. It should work fine. If you don't trade ZLRs, you can even ignore that because I think the SW is only used in ZLRs.