We Love Tj - System (WLTS)

[linkon7]

TSl hits at 5006

re entry at 5013
sl at 5001

this re entry will be with 3 lots... as entry is in the same direction. Price just corrected more than we expected.

 

[InvestoMania]

Can We Use this Indicator for Swing Trading(Day Time Frame)? and one more thing is woodies system itself is a complete system...then why we are using other indicator...while woodies says they are not using even price action or 34 ema to trade...


I checked several places for NIFTY-FUT Eod chart and i observed several places where Zero-Line Rejection is happening but popcorn indicator is sill saying "uptrend", but if we will trade only with woodies then it might be a nice trade

 

[linkon7]

Can We Use this Indicator for Swing Trading(Day Time Frame)? and one more thing is woodies system itself is a complete system...then why we are using other indicator...while woodies says they are not using even price action or 34 ema to trade...

In my experience with indicator based systems, all of them needs to be curve fitted to a particular time frame and trader's mind set. Take the logic, twist it to your comfort level and then backtest... and then trade it...!

woodies uses angle of ema34 and lsma25 as input for his sidewinder and and ema34 for his CZI...

woodies is a pure trend / counter trend system... does very badly when market is sideways.

Dr Bob used cci 50 to determine direction and same concept is used in st-pop.

 

[gautam129]

Linkon7 ji,

I am new in the forum and was quite interested in all your threads and found them to have wealth of information. However, since there is huge info, it's getting little overhelming for me. Could you please let me know which of your threads/posts have the most recent system info so that I can concentrate on that to start with.

Many Thanks

 

[GreedyTrades]

Hey can someone provide me with WLTS in TradeStations Easy Language ?

 

[mastermind007]

I think the first thing that needs to be done here is to look at what this indicator really is. Maybe see if it really is a magic indicator, or if not, take some of the magic and mystery out of it. If you look at the code it only consists of a few lines.

Here�s the code:

1. Calculate the Typical Price = (High + Low + Close) / 3
2. Calculate the simple moving average item #1. We�ll call it SMATP.
3. Calculate the Mean Deviation: delta_i = abs(last_SMATP � TP_of_period_i) (for all i from 0 to N, where N is the length of a period used to calculate the SMATP). MD = sum_for_all_i(delta_i) / N
4. Calculate the CCI = (TP � SMATP) / (0.015 * MD)

A close approximation of the CCI can be replicated easily by the use of Bollinger Bands.

In the above chart we again have the CCI (20) in the bottom subgraph, and I have returned the non-detrended typical price [ ( H+L+C)/3 ] line along with the 20 period simple moving average. I added the Bollinger Bands.

The zero line of CCI is the same as the moving average
and is coded as yellow.

I plotted to Bollinger Bands as a dashed grey line so it can easily be referenced to the plus 100 and minus 100 CCI reference lines. I�m sure my estimation isn�t perfect. I wasn�t trying to get a perfect match. But you can see it is very close. So close that for all practical purposes it is the same. Just look at the excursions outside the CCI bands and then refer to the same spot on the Bollinger Bands. Now the 100 lines are accounted for.

linkon7

I know that this is a very old thread, but I saw it recently, but I am confused.

Which system are you explaining here? Except for use of Typical price, this description does not seem to match with the code presented in post # 7

Was the code replaced later or was there some code that is now deleted?