Turtles CCI

[kindman]

Hi Rajputz ...

Your chart is colorful.. looks nice...

Are u sure that ur cci settings are correct? I am just asking...
Before using some thing we should have full knowledge about it...
i hope u know correct cci settings.. and time period...

anyway good luck...

 

[rkkarnani]

Can you kindly mention a few lines about : Turtles method of pivot based trading system.
Or may be direct me through a link.
Thanks.

 

[AW10]

Its good to see you around AW sir. These colors in CCI panel and lines are alot of help to the CCI users. That is the main reason that i have given a book with it, so that the new readers can understand the system. Once the eyes get adjusted to color, these are really helpful.

The first time Linkon sir showed me the charts, it was pretty awfull to me too. But then i started to see the results and effect of these different color, i really got addicted to it.

Like Red Color defines a downtrend has been created over CCI, Blue is for Uptrend. Yellow is Fast CCI line, which gives the early warning for the future movement and makes one cautious of what can happen. White is Main CCI line. LSMA, the 0 line changes color for choppy market or trend changing conditions. The ribbon at the top also stays Blue for uptrend, and Brown for down trend. So every color shows a relevant information to user. All we need is get addicted.

Also the method, i have discussed, doesnt focus on those much things. It just needs what i have mentioned.

Thanks for your input though. It makes me cautious posting some thing.

Thanks rajputz. I have never used CCI so have least knowledge of it.
Maybe I am going to learn something on this thread..

All the best

 

[rajputz]

Hi Rajputz ...

Your chart is colorful.. looks nice...

Are u sure that ur cci settings are correct? I am just asking...
Before using some thing we should have full knowledge about it...
i hope u know correct cci settings.. and time period...

anyway good luck...

CCI settings used in it are of 14 periods and TCCI is 6 periods. Untill and unless we are using it on time frame less then Hourly, these can be used. Above that we need to use 20 as CCI period settings. These are standards of Woodies CCI. I prefer 14 periods on 5 min chart and 15 min chart, as my intention to use this method for purely intraday breakouts. Any more then this will miss the major move. Over time i will have to chose one of these. Although in time i will try to shift between 5 minute chart and other bigger time frame, so that can have a look at trend on bigger picture. cause if 5 minute has early entry, then it has early exit too. So will tweak it on the go.

 

[rajputz]

Can you kindly mention a few lines about : Turtles method of pivot based trading system.
Or may be direct me through a link.
Thanks.

It is not purely turtle based pivot system. Turtle Method as AW sir explained me once, and i read in a book, used to take high and low of last 20 and 50 days. If price goes even one tick above or below that, we initiate buy or sell. And Original Turtle Method was used on commodities.

The one i have mentioned is based on Pivot high and Pivot low. But as it is also a slow but good system, and that is the reason i like to call it TURTLE PIVOT only. As the basic idea meets the original turtle rule some where. Although original turtle rule comprised of many factors, and one of which is position sizing, and break of previous high or low by a single tick. But here i dont take consider position sizing as i am using it for intraday, plus i only take a trade in which price closes above the pivot high. Thats y i have mentioned to take trade in last 15-20 seconds before the candle close.

There are some further tweaks also which i will introduce on the go, only if i found them useful.

If you are interested in learning turtle system then you can look into scribd.com and search for original turtle trading rules. But mine is totally tweaked.

 

[rkkarnani]

It is not purely turtle based pivot system. Turtle Method as AW sir explained me once, and i read in a book, used to take high and low of last 20 and 50 days. If price goes even one tick above or below that, we initiate buy or sell. And Original Turtle Method was used on commodities.

The one i have mentioned is based on Pivot high and Pivot low. But as it is also a slow but good system, and that is the reason i like to call it TURTLE PIVOT only. As the basic idea meets the original turtle rule some where. Although original turtle rule comprised of many factors, and one of which is position sizing, and break of previous high or low by a single tick. But here i dont take consider position sizing as i am using it for intraday, plus i only take a trade in which price closes above the pivot high. Thats y i have mentioned to take trade in last 15-20 seconds before the candle close.

There are some further tweaks also which i will introduce on the go, only if i found them useful.

If you are interested in learning turtle system then you can look into scribd.com and search for original turtle trading rules. But mine is totally tweaked.

Ohh!! Sorry to have bothered you. I always called them "BANDS" hence was confused when read Turtle Pivots....

 

[rkkarnani]

Thanks for sharing your system and its explanation.
The Turtle Pivots that I see on your charts do not seem to be at any High or Low level as nowhere I see the High or Low of the Candles touching the Red or Green bands. Have you used any 'Filter'? What period Turtle are you using.

 

[rajputz]

Thanks for sharing your system and its explanation.
The Turtle Pivots that I see on your charts do not seem to be at any High or Low level as nowhere I see the High or Low of the Candles touching the Red or Green bands. Have you used any 'Filter'? What period Turtle are you using.

It is generally a trend following system. And once i tried to correlate it with checking what type of periods it is using. But problem was that it was having random pivot periods. And then i asked Linkon sir, who told me that it is trend following system and very slow to follow on EOD basis.

To be frank, i dont know how the afl is written, other then that it calculates the pivot high or low of last few periods. Out of which i just derived the common fact that whenever price breaks the last range and closes above that, it is because of force in that direction is increasing. Momentum is gaining to that side, in the particular time frame we are working in. Also price goes up by breaking the previous range to upside, and down to breaking the range to downside. Thats how the charts are formed. I never complicated the theory with the understanding of the AFL. I just sticked to the basic theory of breaking of previous high to gain more height.

CCI and Pivot both act as a filter to each other. If one is right and other is wrong we dont take the trade. Both should be suggesting momentum in the direction. Remeber the entry points i discussed in the First Post.

 

[rajputz]

The only problem that occurs some time is of missing the moves bcoz of time frame setting. That is either 5 minute or 15 minute. Cause some times on 5 minute chart a breakout occurs on Pivot method, but CCI is in between 100 and 200. At that time we cannot take the trade as it is against the rule. So at that time we can shift the chart period to 15 minute and apply the rules again. And they can fit well. like check the example below. First is 5 minute chart and second is 15 minute chart. 5 Minute chart is telling us not to take trade, where as 15 minute is telling us to take the trade. So on the basis of confirmation from next bigger time frame we can take the trade.

This is for those who dont wont to miss the opportunity and trade it. Signal came 10 minutes later on 15 min chart with less points but was according to rules. So it is better to counter check with 15 min also.

 

[rajputz]

Tony Trade turned into FAMIR...and Pivot Break.