Slim Miller's Long-Term Trend Trading Chart

markos

markos

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I use this chart to see if I am buying into a counter trend rally. Also, excellent for ETF's and 401k's, IMO.

Open the chart and check for clues. BTW, my short term, "be careful" signal is when the Hull MA changes polarity. My absolute time to get in/out signal comes at the cross of the 43 week EMA. Your signal should be what you make it.

Code:
http://tos.mx/r5TdS5j
 
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mc01439

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Nice use of the Heikin_Ashi. Is a great chart to help determine long term action as well as signs of a breakdown. Thank-You for sharing
 
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netarchitech

netarchitech

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@markos Thanks for sharing...I like what you've put together...simple is the way to go...

I hope you were in ALGN for that awesome bull run :) For what its' worth, I think ALGN might be basing on support and readying for another run...

On that note, I thought I would share my own Long-Term Chart setup with you and the uTS community. I use a home-grown volatility study, a support/resistance study, generously shared by a fellow thinkscripter, and candlestick analysis whilst trying to extract wealth from the market...



Despite my best efforts, I cannot get the colors properly displayed on the uploaded charts. Everything washes out. Not to be deterred, I dialed up the contrast and this is what I got... 😣

Essentially, the faint yellow candles are long signals, red candles are short/sell signals, the green candles are cover signals and the white candles indicate chop/ranging/consolidation requiring further analysis on lower timeframes. The horizontal lines are the aforementioned support/resistance indications. The rest comes down to candlestick analysis...

This post is not what I hoped it would be, but I say if ya got lemons, make some lemonade :cool:

Good Luck and Good Trading...
 
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skynetgen

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@markos Thanks for sharing...I like what you've put together...simple is the way to go...

I hope you were in ALGN for that awesome bull run :) For what its' worth, I think ALGN might be basing on support and readying for another run...

On that note, I thought I would share my own Long-Term Chart setup with you and the uTS community. I use a home-grown volatility study, a support/resistance study, generously shared by a fellow thinkscripter, and candlestick analysis whilst trying to extract wealth from the market...



Despite my best efforts, I cannot get the colors properly displayed on the uploaded charts. Everything washes out. Not to be deterred, I dialed up the contrast and this is what I got... 😣

Essentially, the faint yellow candles are long signals, red candles are short/sell signals, the green candles are cover signals and the white candles indicate chop/ranging/consolidation requiring further analysis on lower timeframes. The horizontal lines are the aforementioned support/resistance indications. The rest comes down to candlestick analysis...

This post is not what I hoped it would be, but I say if ya got lemons, make some lemonade :cool:

Good Luck and Good Trading...
What do you use to determine the color of candles?
 
netarchitech

netarchitech

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@skynetgen The coloring of the candles is a critical component in my homegrown, proprietary volatility study. Thanks for asking...

Would you happen to have a Long Term Trading Chart to share? I would be interested to see it if you're so inclined...

Good Luck and Good Trading :)
 
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skynetgen

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@skynetgen The coloring of the candles is a critical component in my homegrown, proprietary volatility study. Thanks for asking...

Would you happen to have a Long Term Trading Chart to share? I would be interested to see it if you're so inclined...

Good Luck and Good Trading :)
Certainly. its kinda complicated and overloaded though. This is my current working swing and positional chart:

It has some elements which are more for testing/analysis. However those are the core concepts I use:
1) Multiple timeframe - daily , weekly and monthly
2) Volume profile support and resistance : Point of control, and value area high/value area low. Monhtly on daily chart. Quarterly on Weekly and yearly on monhtly
3) Overextension - (bollinger band +3Atr pierce). SQZ
4) Anchored vwap

I verify targets and possible pivots points based on Volume profile on MTF. The daily price action/oscillators help determine entry point
p.s. and those little arrows and horizontal dashed lines - that is my WIP box system for S&R . Its in progress and not very useful yet. The programatic MTF support and resistance script you posted I gonna be using to improve this part
 
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netarchitech

netarchitech

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@skynetgen Thanks for sharing :) IMO, as long as the charts work for you and help to extract wealth from the market, complicated and overloaded is fine...especially if you're focused on swing/positional trading...

For me, initially I found myself drawn to fast charts with many indicators trying to catch every twist and turn. Ironically, I discovered moving to higher timeframes, slowing things down, identifying the indicators that really work for me and being able to focus on seeing larger trends, I increased profits and have more time for other endeavors...Ultimately, if you are able to figure out what works for you, that's the key...especially since apparently 90% of traders lose money...

Your "little arrows and dashed lines" look very interesting...I'm glad to hear you are thinking about incorporating aspects of the Programmatic Support and Resistance indicator...I would enjoy taking another look at your charts when you're done :cool:

Good Luck and Good Trading :)
 
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skynetgen

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For me, initially I found myself drawn to fast charts with many indicators trying to catch every twist and turn. Ironically, I discovered moving to higher timeframes, slowing things down, identifying the indicators that really work for me and being able to focus on seeing larger trends, I increased profits and have more time for other endeavors...
Its all about finding a system that works. My swing system is not where I want it to be yet so its like 6th iteration and work in progress. I learn some concepts, try to build a system on them, backtest and if not satisfied iterate more. I tested several hundreds of indicators, wrote about a hundred myself. I go through several dozen charts daily testing and trying concepts. I like solving puzzles and this so far is a very resilient puzzle.

I am very curious about your custom volatility indicator though. Are you using implied/historical volatility data? Or maybe you built your own indicator based on something else (ATR change?). Volatility is something very interesting however I havent found a good use out of it yet (aside of using it for option pricing estimations)
 
netarchitech

netarchitech

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Its all about finding a system that works.
I'm wondering if the search for a system is like yet another search for the Holy Grail :) While not a cash machine, my current setup does help me extract wealth from the market, as long as I remember to also incorporate my Risk Management/Position Sizing parameters with each trade...Moving out to swing/position trading using 4Hour/Daily/Weekly timeframes allows me the time I need to methodically step through each step of the system without neglecting/overlooking critical clues...

I am very curious about your custom volatility indicator though. Are you using implied/historical volatility data? Or maybe you built your own indicator based on something else (ATR change?). Volatility is something very interesting however I havent found a good use out of it yet (aside of using it for option pricing estimations)
I built my own so-called "Volatility" indicator as a result of spending years pairing up and analyzing the VIX and the S&P. I could clearly see the inverse relationship between the two, but it took me a long time to finally figure out a way to profit from it...

In the spirit of sharing and the uTS community and since you like solving puzzles, below please find the links/information I found on the Internet that started me on the journey down the "rabbit hole"...

Link 1 Link 2 Link 3

Good Luck and Good Trading :)
 
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skynetgen

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I'm wondering if the search for a system is like yet another search for the Holy Grail :) While not a cash machine, my current setup does help me extract wealth from the market, as long as I remember to also incorporate my Risk Management/Position Sizing parameters with each trade..
Exactly my goal. I started with intraday timeframe and spent majority of time focusing on that. My system for that timeframe is at better state.
After trying swing for a few month it became clear that i must use quite different techniques for daily and up timeframes (especially and UP). So further I must dig


I built my own so-called "Volatility" indicator as a result of spending years pairing up and analyzing the VIX and the S&P. I could clearly see the inverse relationship between the two, but it took me a long time to finally figure out a way to profit from it...

In the spirit of sharing and the uTS community and since you like solving puzzles, below please find the links/information I found on the Internet that started me on the journey down the "rabbit hole"...

Link 1 Link 2 Link 3
Thank you for pointing me in the interesting direction.
 
netarchitech

netarchitech

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@tabs999 Who? Me? On Discord? If so, no...

What's a Discord anyway? Just kidding...

Good Luck and Good Trading :)
 
netarchitech

netarchitech

Member
@skynetgen As luck would have it, @horserider has taken the reins and posted his implementation of the Williams VIX Fix. I don't know if he checked out the links I provided to you, but, more importantly, he has gone ahead and improved on it by inverting it. Yet another piece of the "puzzle" falls into place :cool:

FWIW, given the relevance, I think it might be a good idea to continue this discussion over on @horserider's thread...

Good Luck and Good Trading :)
 
markos

markos

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Why 43 weeks?
@john3 43 weeks is an EMA used by people at stockcharts. Others use a 47 week. There is no right or wrong answer.
As I've mentioned, find what works for you and make it your own.
 
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john3

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@john3 43 weeks is an EMA used by people at stockcharts. Others use a 47 week. There is no right or wrong answer.
As I've mentioned, find what works for you and make it your own.
Yes, I know that is what they use. The question is, why? Just wanted to know their rationale for using 43 weeks, if there is any. If they just have chosen a random number, that is cool, too, no judgment.
 
markos

markos

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Yes, I know that is what they use. The question is, why? Just wanted to know their rationale for using 43 weeks, if there is any. If they just have chosen a random number, that is cool, too, no judgment.
They don't give rationale for it. A person could just as easily use a 40 week SMA which probably matches up with a 43 week EMA. But, I really don't know the why.
I just use it, it works for me.
 
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