How to use ergodic TSI and bressert oscillator?

[dang3276]

I'll start by noting that I typically use an elliot wave trading strategy. However, in small range activity (like we've been seeing for the past couple of weeks) I've been tinkering w/ a "plan b" strategy for very quick scalps.

I've researched Fisher's Transform and a number of different stochastic indicators, but I think that the combination of the Ergodic TSI and Bressert's oscillator may be more advantageous. I"ve only backtested this theory over the past couple of weeks and still need to tweak my entry/exit strategies.

My question to the forum is: How does one best use the ergodic and bressert indicators to capitalize on very short-term trading opportunities? What are the right "levels" to enter longs/shorts and when should one exit?

Thanks in advance for your thoughts.

[dang3276]

Thanks for the reply, Linus. I have reviewed the info provided by eSignal on these tools. I'm looking for some more specifics - whether they are anecdotal or backtested strategies - on how to best utilize these two.

I understand my question is tricky in the tools are not appropriate for all securities in all time frames. Let me try to narrow the field a little bit:

I am using these indicators for trading the S&P 500 e-mini (ES U3) in a 1 min timeframe. The tools also seem to work on longer time frames, but I find there is an "edge" in using them for very quick trades. Furthermore, the tools seem to work well in combination in a non-trending market (i.e., little or no up/down direction or sideways) with a range of at least 2 ES points. My strategy, for a long scalp, thus far has been to:

1. Wait for the ergodic TSI 2 to fall below zero
2. Check to see if Bressert confirms price/momentum action - if it does proceed in step #3; if it does not then trade opportunity is negated
3. Watch for Bressert to curl up and cross through the 20 level
4. Enter long position when ergod passes through its MAs
5. Exit the trade when area between Bressert line and its MA starts to diminish

I would like to know if others use a similar strategy or do something different than this. I'm also interested in knowing what others think about using these tools for very short-term trading.

Thanks!

D

[betsteven1]

Fisher Does Not Print/Update

The Red/Black lines...will update if I manually reload them...Otherwise the Black line will not update at all..just the red line until I reload then it will not update from that point...I sit part of the coding that needs to be de bugged.

Thanks