Question on ( Fractals )

[eSignal_JasonK]

Hello Nicholle,

Yes, I did get the book and some materials from Marc but I haven't gone through it all yet. There have been a lot of issues in the forums that have taken precedence over formula development. It's still on my list and I plan to look into it. By the way, Chris Kryza recently put together a Fractal.efs. You might want to check that out in the mean time. He also has the Gator.efs, AO.efs, AC.efs and Alligator.efs. You can find them in his file share group, Specialty Scripts under the "Gator" folder.

[Nicholle]

Hi Jason,

Thank you for the reply, yes I will check out what Chris Kryza has put together in the mean time. Have a great day!

Nicholle

[micke256]

Hi Nicholle & Jason, any news on the fractals??? I wanna use it in an essay regarding "trading models"...

Best regards, Micke

[Nicholle]

Hi Micke,

No, there is still not a complete Fractal formula. I have been using the Chris Kryza formula that was discussed a few posts down, and he is working in his spare time to see if he can add the additional fractal variations to his formula. Hopefully in the near future someone will be able to get a complete formula.
In your original post, you said you were working with currency pairs, I have recently started thinking about trading forex and would be interested in any information you could share with me about trading forex.
I will definately keep you posted on the Fractal formula.

Thank you,
Nicholle

[micke256]

Hi Nicholle. So how is the fractals working with your trading ?

Currently I'm writing an essay about "tradingmodels", and still working with it about 10 hours+ every day What kind of information about forex are you interested to know more about? I'll try to help you if I can..

Best regards, Micke

[Nicholle]

Hi Micke,

The fractals are working well in my trading. I have found that Bill
Williams system is the very best I have found and used over the last seven years.
After reading many books, and trying many different approaches to trading, I was very happy to come across Bill Williams book, New Trading Dimensions. I can really identify and believe in his scientific approach to trading.
Your "tradingmodels" essay sounds very interesting, I would be curious to hear more about it.
I have been trading futures and stocks for the last several years, but have recently read some good things about Forex, and feel it would be something that would work out really good for me. The two questions I have about Forex are: Without a central exchange, there is not an accurate reading for volume. With the Bill Williams system volume is needed to calculate squat bars, which I have found are a very helpful, and possibly indespensible, part of the system. My next question is since there are many different banks participating in the trading, I have heard that chart prices rarely match the price quotes for whatever brokerage I will be using. For someone trading intraday, is that going to be a really big problem? How much of a price difference can be expected?
I know I should just go ahead and add forex to my charting package, I just want to find out if these two differences will hinder my trading with my current system.
Thanks a lot for any information you can provide, I really appreciate it!

Nicholle

[maxfurie]

Forex

Nicole,

If you are interested in FOREX you are obviously looking for liquidity, it has it in spades. There is a great deal of money to be made, every tick - referred to as a "Pip" in FOREX lingo is worth $10, margins are low and they trade 24/7 (although weekends are really spotty and not all dealers cover that time). However be warned that the FOREX is a DEALER system and you have to take your positions based upon a market makers spread, they get free money every time you enter a trade, also there are no commisions but here too is a hideous catch, there is a daily "carrying charge" larger than most r-t commisions on futures. This means you could take a position and hold it for three days and pay each day, not one r-t like futures. The short of it all is it is far better to stick to CME currency futures than trade FOREX. If you want more detail or whatever just let me know and I can provide all you need. Stick to fractals, you have come through the looking glass.

[Nicholle]

Hi,

Thanks for your reply, I definately have to weigh the pros and cons of Forex before deciding to give it a try. Right now, I only trade the mini Dow, which is going good, so maybe I will just stick to that for now, and possibly start watching the CME currencies.
I agree with what you said about coming through the looking glass in regards to fractals. As soon as I discovered fractals, and the rest of the Bill Williams system and methodology, I immediately threw everything out that I had previously learned and tried in the past.
Once you discover the reasons why nothing else works, it makes no sense to use anything else.
How long have you been trading with fractals, and which markets and time frames do you watch?

Thanks, and I wish you much success in your trading!

Nicholle

[micke256]

Bill Willams system looks good to me also, even though there is a lot of bull**** in his book (not scientific, he just cut and paste a lot of things he find and a lot of his stuff is irrelevant and misleading). Also, his homepage is a joke and makes you belive he is not serious (www.profitunity.com). BUT, what we should focus on is whether his system works - and hopefully it does. Many seems to use it with success anyway. I wanna try it!

Well, regarding the essay with "tradingmodels" we are getting closer to our goal! This is how we've done so far:

- Tested 5-min EBS data (with ticks included *note very unusual for normal traders as go no access to this*) on 5 very liquid currency pairs (EUR-USD, EUR-JPY, USD-JPY, GBP-USD and USD-CHF).

- We started to use the standard default settings in Tradestation 2000i for some of the more common indicators, such as RSI, Stochastics, MACD and DMI. All without stoploss!
Then we added 2 different kind of moneymanagement strategies with T/P (take profit) and S/L (stoploss). One of our moneymanagement approches turned out positive for all four indicators. After that, we changed the default settings trying to better catch the 21 hour trend (we're only trading when some of the major tradingplaces are open, eg London, Tokyo or New York). And then we tested this new lenght of the indicators, all turned out positive for one of our moneymanagement systems.

We're measuring the risks with sharpequote and maybe another measurement soon... The final goal will be to use a combined strategy.. we're working on that part now. Would like to test AO (awesome oscillator) as a part here..

If there is any Tradestation user who read this, plz send me a mess I got one question for you regarding one function of the program!

Ok Nicholle, you ask: "Without a central exchange, there is not an accurate reading for volume. With the Bill Williams system volume is needed to calculate squat bars, which I have found are a very helpful, and possibly indespensible, part of the system".

TRUE, this can be a problem. However, if you got access to EBS or Reuters new system you can get "tick data" which is a tick indication as you can substitute with "actual" volume.

Ok, regarding different banks or marketmakers.. yes they do quote their own prices, and got the possibillity to hit your S/L or T/P for instance. I've checked a few of the banks and maketmakers against EBS indicative prices, as well as Reuters data feed... and come to the conclusion that the difference is normally very very small (1-3 pips for www.cms-forex.com or www.refcofx.com). I've heard of other brokers done worse, but you better check yourself in order to make sure your broker are a good one! I don't consider it a "big" problem, if it was a big difference the arbitrage possibillites will be bigger as well, and you can take advantage of that...

If you need to know anything else, feel free to mail me any time Nicholle!

BTW, I don't understand how to use the easy language and Tradestation work together, anybody know how to import and use EFS files??? anybody?

Merry Christmas to all!!!

Best regards,

Micke

[Nicholle]

Micke,

Thank you for all of your help, it is most appreciated! The research you are doing with your "tradingmodels" sounds very interesting and exciting!
Thank you very much for answering my questions regarding FOREX. Your answers have been very helpful, if I have anymore I won't hesitate to ask!
Thanks again, and Merry Christmas to you, and to everyone who participates in this forum!
I hope you all have a very safe, happy, and abundant New Year!

Best Wishes,
Nicholle

[micke256]

Merry christmas Nicholle and all others!
I cannot work it out how to install a efs file yet is there any "in depth" guide?

[dloomis]

Re: Reply to post 'Question on ( Fractals )'

micke256

If you save the efs file into the eSignal/Formulas directory, then right
click on the chart, select Formulas, you should see the file listed.

Move the mouse pointer over the file name and click the mouse button, the
efs will now be on the chart.

[micke256]

bro, I've "only" had tradestation 2000i (omega prosuite).. and are not familiar with this type of files... guess I must have an easylanguage file with ts though..
thanks for your help, micke

[freehouse]

Gator Oscillator (related to this old thread)

Sorry for bringing up this old thread.

I was wondering if somebody could help me with the Gator Oscillator.

Chris did post gator.efs back in 2003 (http://share.esignal.com/groupconten...or&groupid=114), but the plot is not like it is supposed to be:

The plot is described here:

The Gator Oscillator

The Gator Oscillator shows the degree of convergence / divergence of the Balance Lines:

The Gator

In order to build the Gator Oscillator in MetaTrader 4 follow the "Insert -> Indicators -> Bill Williams - Gator Oscillator" menu sequence.

The Gator Oscillator is displayed as two histograms:

* the histogram above zero shows the distance between the blue and the red lines (between the Alligator's jaw and teeth);
* the histogram below zero shows the distance between the red and the green lines (between the Alligator's teeth and lips).

All the bars of each histogram are either green or red:

* histogram bar is red if it is lower than the preceding one;
* histogram bar is green if it is higher than the preceding one.

The Gator Oscillator clearly shows convergence and intertwining of the Balance Lines when the Alligator is asleep or awake thus helps identify a trend.


Thanks.