What happened to "no holy grail" thread?

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kmeade

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Hi all,

I was following a thread call "no-holy-grail-make-it-happen-by-using-wave-theory" that was started by J007RMC and it seems to have disappeared, does anyone know why?
 
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The original author @J007RMC appears to delete most of his messages within that thread. So there were a lot of missing pieces there. I removed it to avoid any confusion.

If you guys have any questions in particular, let's use this thread as a new place for that.
 
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I'm still using the wave system my PL is through the roof been averaging around 4k / day in catching the bottoms and top plays Especially good are the ab=cd plays the d legs pay well rarely does a stock reverse its direction until after it has completed its current wave. Sorta like ground hog day lol I welcome it Ive played apple every day now going on 3 weeks.
 
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What I have found over time is the completion of the wave guarantees a reversal however once the stock has drawn a a high or low line this is where it gets tricky ok.

What is the overall market doing? Is to stock liquid and tradable? News, momentum.

Every morning I Look at that and have two charts up the spy and aapl.

I want to see the. I know if the spy is weak so will be aapl. I wait for a drawn line or completed wave top and bottoms I merely look for the ride.

No guarantees here stocks can continue to push up or down so I watch the price action on 2-15 min charts. Seems I can never tag a high or lo spot on but I begin to leg in. So two contracts may be 4 then 6 then 12 or more if needed because I know its going to happen.

I watch the action I want to keep my avg as low as possible if I miss because I know trend change is coming and I'm good with the price moving in my direction its just a waiting game.

I strictly watch the 2 min chart while watching fibs and the swing hi lo all of it if I feel good price is moving in my favor I load the boat. Just simple, but works well for me.

I play the morning after open... more volatility and I'm usually done by 07:00 in and out no screwing around. Do I leave money on the table yes but Ive hit my daily goal and traded my plan tomorrow is another day.
 
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J007RMC said:
I'm still using the wave system my PL is through the roof been averaging around 4k / day in catching the bottoms and top plays Especially good are the ab=cd plays the d legs pay well rarely does a stock reverse its direction until after it has completed its current wave. Sorta like ground hog day lol I welcome it Ive played apple every day now going on 3 weeks.
Click to expand...

Great job @J007RMC ! I guess you focus mainly on trading AAPL options? Post an updated chart when you get a chance. Thanks!
 
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Here is the basis for my original post.


Simple Options Trading Strategy

Develop a Routine

Identify a small list of stocks that are widely traded and know trade management is one of the most important facets of successful trading. Markup your charts for support and resistance lines, i.e., entries and exits the night before the trade. Always have a contingency plan. Know the general direction of the market before placing the trade, i.e., expected news, earnings, and other events.

I check the 4-hour, 1-hour, 15-minute, 5-minute time frames to find strength in a stock, but I trade short term and like to be in and out of my trades the same day. The 15-minute time frame is telling and a frame to view the overall wave structure unless you trade mid-swing to longer trades. In that case, the 4-hour is as low as I go. Review Option Graphs for call, put, volume data current week stats mark the lower to higher volume boundaries based on the current week’s options. I find it easier to follow the swing high/low with knowing the put/call options volume ranges.

The most important moving averages, in my opinion, the 20, 30, and 50 exponential moving averages are a mainstay. I watch how price action reacts to moving averages. I like to throw up 8, 15, 49 exponential moving averages and I keep the 100 and 200 simple moving averages on my charts.


Short-term wave A

Medium-term wave B

Long-term wave C

Wave D the projected AB equals CD


Look for entries near the top and bottoms of wave B and wave C. Depending on one’s risk/reward these entries are oftentimes profitable. It's always a good idea to view upper/lower times to more accurately find your entries and exits very simple for best odds. Time your entries and exits by tops and bottoms of wave lines and the/stochastic tops and bottoms. Most important-greed kills accounts. Position/sizing can kill accounts. Unless you are comfortable with it, do not average down on trades. Have a trade plan for entry and exits... remember to set stop losses. If you’re down on a trade and how often do stocks recover after a 5- 10% drop and greater? Negative percentages are telling you the trade is not moving in the expected direction. Set your stops accordingly and do not exceed your percentage loss threshold. Unless you have an education in trade management keep it simple. Odds are you will win far more than stop losses.

I trade waves but not as the Elliot wave theory is explained my trade time is short.

https://imgur.com/HlvubO2
 
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J007RMC said:
Absolutely I only trade options
Click to expand...
I assume this works for stocks too... one question.. how you know what waves are which ones? like where is 1, 2 or 5 .. or A B C confirmation points.. sorry very confused lol... and also.. when the top bar says confirmed is that mean the set up is ready?
 
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alexqqq said:
I assume this works for stocks too... one question.. how you know what waves are which ones? like where is 1, 2 or 5 .. or A B C confirmation points.. sorry very confused lol... and also.. when the top bar says confirmed is that mean the set up is ready?
Click to expand...

All waves work and they all lead to a cycle ie wave D it can take 3-4 days to form. When wave D forms you should see a convergence of waves usually a trend setter depending on market momentum and direction/reversal AB=CD. Ben has a good script on site to help identify these. The harmonic script also identifies Elliot pattern waves.


Code: 
#----------------------------------------------------------------#
#============== Syracusepro Harmonics and Fractals ==============#
#----------------------------------------------------------------#
#===== This program was made with the intention of educational   #
#===== purposes. It contains fractal and harmonic patterns.      #
#===== On the zigzags, the Fibonacci sequence numbers are also   #
#===== included, and shows what makes each patterns valid with   #
#===== their correct names.                                      #
#=========== I hope people interested can make a great program   #
#=========== out of this material. Thanks. ======================#
#----------------------------------------------------------------#

#---------------- Total of 12 Harmonic Patterns -----------------#

#================= Http://www.thinkscriptcode.com ===============#

#---------------------------------------#
#===== Irregular fractals function =====#
#---------------------------------------#
###### mcdon030 addded tolerance per Larry Pesavento
##### and roughly 17 more patterns.
script isRegularFractal {
    input mode=0;
    plot ret = if mode == 1 then high[4] < high[3] and high[3] < high[2] and high[2] > high[1] and high[1] > high[0] else if mode == -1 then low[4] > low[3] and low[3] > low[2] and low[2] < low[1] and low[1] < low[0] else 0;
}

#---------------------------------------#
#===== BWilliams fractals function =====#
#---------------------------------------#
script isBWFractal {
    input mode=0;
    plot ret = if mode == 1 then high[4] < high[2] and high[3] <= high[2] and high[2] >= high[1] and high[2] > high[0] else if mode == -1 then low[4] > low[2] and low[3] >= low[2] and low[2] <= low[1] and low[2] < low[0] else 0;

}

input showPatterns=Yes;
input showBarColors=No;
input filterBW=No;
input ShowHHLL=No;
input ShowTimeFractals1=No;
input showArrows = No;
input tolerance =.06;
input timeframe1={MIN, TWO_MIN, THREE_MIN, FOUR_MIN, FIVE_MIN, TEN_MIN, FIFTEEN_MIN, TWENTY_MIN, THIRTY_MIN, HOUR, TWO_HOURS, FOUR_HOURS,default DAY, TWO_DAYS, THREE_DAYS, FOUR_DAYS, WEEK, MONTH, OPT_EXP};

input showchannel1=No;
input showchannel2=No;
input showchannel3=No;
input showZigZag=Yes;

def bn=barNumber();
def h2=high[2];
def l2=low[2];

def filteredtopf = if filterBW then isRegularFractal(1) else isBWFractal(1);
def filteredbotf = if filterBW then isRegularFractal(-1) else isBWFractal(-1);

plot TopFractals=filteredtopf[-2];
plot BottomFractals=filteredbotf[-2];
#def TopFractals=filteredtopf[-2];
#def BottomFractals=filteredbotf[-2];

TopFractals.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_DOWN);
TopFractals.SetDefaultColor(color.RED);
BottomFractals.SetPaintingStrategy(PaintingStrategy.BOOLEAN_WEDGE_UP);
BottomFractals.SetDefaultColor(color.GREEN );

def b1_0=if bn==0 then -1 else if filteredtopf == 0 then 0 else if b1_0[1]>-1 then b1_0[1]+1 else -1;
def b1_1=b1_0+Getvalue(b1_0,b1_0+1,0)+1;
def b1_2=b1_1+Getvalue(b1_0,b1_1+1,0)+1;

def b2_0=if bn==0 then -1 else if filteredbotf == 0 then 0 else if b2_0[1]>-1 then b2_0[1]+1 else -1;
def b2_1=b2_0+Getvalue(b2_0,b2_0+1,0)+1;
def b2_2=b2_1+Getvalue(b2_0,b1_1+1,0)+1;

def higherhigh = if filteredtopf == 0 or b1_2==b1_1 then 0 else GetValue(high[2],b1_1,0) < GetValue(high[2],b1_0,0) and GetValue(high[2],b1_2,0) < GetValue(high[2],b1_0,0);
def lowerhigh = if filteredtopf == 0 or b1_2==b1_1 then 0 else GetValue(high[2],b1_1,0) > GetValue(high[2],b1_0,0) and GetValue(high[2],b1_2,0) > GetValue(high[2],b1_0,0);
def higherlow = if filteredbotf == 0 or b2_2==b2_1 then 0 else GetValue(low[2],b2_1,0) < GetValue(low[2],b2_0,0) and GetValue(low[2],b2_2,0) < GetValue(low[2],b2_0,0);
def lowerlow = if filteredbotf == 0 or b2_2==b2_1 then 0 else GetValue(low[2],b2_1,0) > GetValue(low[2],b2_0,0) and GetValue(low[2],b2_2,0) > GetValue(low[2],b2_0,0);

AddChartBubble(ShowHHLL and higherhigh,high[-2],"[HH]",color.CYAN,yes);
AddChartBubble(ShowHHLL and lowerhigh,high[-2],"[LH]",color.CYAN,yes);
AddChartBubble(ShowHHLL and higherlow,low[-2],"[HL]",color.GREEN);
AddChartBubble(ShowHHLL and lowerlow,low[-2],"[LL]",color.GREEN);

def hh=if bn==0 then -1 else if higherhigh == 1 then 0 else if hh[1]>-1 then hh[1]+1 else -1;
 
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Here is another script written and shared in the think script lounge.
Code: 
## START CODE
## ZigZagSign TOMO modification, v0.2 written by Linus @Thinkscripter Lounge adapted from
## Thinkorswim ZigZagSign Script
## Mods by Larry to add chart bubbles & horizontal lines
## Mod by Larry to add Chart Bubble  for HH/LL indication
## 7.1.13 Added Volume Wave (similar looking to other Wave Volume studies) as a lower study. To use this, just load 2 versions of this study and designate one for the upper panel and one for the lower panel. For the lower panel, select input showvolumewave == yes. For the upper panel input showvolumewave ==no and then select the other options as usual.
##7.27.13 Added 2nd Zigzag from new TOS ZigZagHighLow indicator (can see smaller zigzags if used)
##8.24.13 Mod by Lar to add Supply/Demand Levels (Red Zones are Supply, Green are Demand), ability to enter percentage, amount or atr for reversalAmount (using the greater of the three at any reversal)

def   price               = close;
def   priceH              = high;    # swing high
def   priceL              = low;     # swing low
input ATRreversalfactor   = 3.0;#Hint ATRreversalfactor: 3 is standard, adjust to whatever instrument/timeframe you are trading.
input ATRlength           = 5;#Hint ATRlength: 5 is standard, adjust to whatever instrument/timeframe you are trading
input useatr              = yes;#Hint useatr: set to no to use manual zigzagamount for reversalamount before a new zigzag is drawn. The ATR will still be used for auto fibs.
input zigzagpercent       = 0.20;
input zigzagamount        = .15;
def ATR                   = reference ATR(length = ATRlength);
#def reversalAmount        = if useatr == yes then ATRreversalfactor * ATR else zigzagamount;
def reversalAmount        = if (close * zigzagpercent / 100) > Max(zigzagamount < ATRreversalfactor * ATR, zigzagamount) then (close * zigzagpercent / 100) else if zigzagamount < ATRreversalfactor * ATR then ATRreversalfactor * ATR else zigzagamount;
#addlabel(yes,(zigzagpercent*close/100)+"   "+zigzagamount+"  "+(atrreversalfactor*ATR));
input showsupplydemand    = no;
input showhorizontal      = no;#Hint showhorizontal: set yes to display horizontal lines at low/high of each zigzag high/low reversal bar to use for possible entry point
input bubbleoffset        = .0005;
input pricecolor          = no;
input showVolumeWave      = no;#Hint showvolumewave: set all other bubbles to no if showvolumeWave is selected yes
input showcombinedbubble  = no;#Hint showcombinedbubble: set other bubbles contained in combined to no if combined selected yes
input showcombinedbubble2 = no;#Hint showcombinedbubble2: shorter version. set other bubbles contained in combined to no if combined selected yes
input showBubbleshhll     = no;
input showBubblesprice    = no;
input showBubbleschange   = no;
input showBubblesbarcount = no;
input showBubblesVolume   = no;
input showFibLines        = no;
input showFibExtLines     = yes;
input usemanualfibskip    = no;#Hint usemanualfibskip: Select no to use preprogrammed fibskip amounts. Select no, to use the amount entered at input fibskip.
input fibskip             = .50;#Hint fibskip: Set input usemanualfibskip == yes to use this amount versus preprogrammed amounts. Standard is 1.0. This is percentage difference between fib high and low before a new fib grid created.
input showBubblesfibratio = no;
input showFibLabel        = no;#Hint showfibLabel: Select yes to show label of current fib level as of last price
input fib1level           = .236;
input fib2level           = .382;
input fibMlevel           = .500;
input fib3level           = .618;
input fib4level           = .786;
input showArrows          = no;
input useAlerts           = no;
input showconfirmedLabel  = yes;#Hint showconfirmedLabel: Select yes to see current status of ZigZag, either unconfirmed or confirmed
input showBubblewaveC     = no;#Hint showbubblewave123: Not complete, work in progress

#Assert(reversalAmount > 0, "'reversal amount' should be positive: " + reversalAmount);

#Original TOS ZigZag code Modified by Linus
def barNumber = BarNumber();
def barCount = HighestAll(If(IsNaN(price), 0, barNumber));

rec state = {default init, undefined, uptrend, downtrend};
rec minMaxPrice;

if (GetValue(state, 1) == GetValue(state.init, 0)) {
    minMaxPrice = price;
    state = state.undefined;
} else if (GetValue(state, 1) == GetValue(state.undefined, 0)) {
    if (price <= GetValue(minMaxPrice, 1) - reversalAmount) {
        state = state.downtrend;
        minMaxPrice = priceL;
    } else if (price >= GetValue(minMaxPrice, 1) + reversalAmount) {
        state = state.uptrend;
        minMaxPrice = priceH;
    } else {
        state = state.undefined;
        minMaxPrice = GetValue(minMaxPrice, 1);
    }
} else if (GetValue(state, 1) == GetValue(state.uptrend, 0)) {
    if (price <= GetValue(minMaxPrice, 1) - reversalAmount) {
        state = state.downtrend;
        minMaxPrice = priceL;
    } else {
        state = state.uptrend;
        minMaxPrice = Max(priceH, GetValue(minMaxPrice, 1));
    }
} else {
    if (price >= GetValue(minMaxPrice, 1) + reversalAmount) {
        state = state.uptrend;
        minMaxPrice = priceH;
    } else {
        state = state.downtrend;
        minMaxPrice = Min(priceL, GetValue(minMaxPrice, 1));
    }
}

def isCalculated = GetValue(state, 0) != GetValue(state, 1) and barNumber >= 1;
def futureDepth =  barCount - barNumber;
def tmpLastPeriodBar;
if (isCalculated) {
    if (futureDepth >= 1 and GetValue(state, 0) == GetValue(state, -1)) {
        tmpLastPeriodBar = fold lastPeriodBarI = 2 to futureDepth + 1 with lastPeriodBarAcc = 1
            while lastPeriodBarAcc > 0
            do if (GetValue(state, 0) != GetValue(state, -lastPeriodBarI))
                then -lastPeriodBarAcc
                else lastPeriodBarAcc + 1;
    } else {
        tmpLastPeriodBar = 0;
    }
} else {
    tmpLastPeriodBar = Double.NaN;
}

def lastPeriodBar = if (!IsNaN(tmpLastPeriodBar)) then -AbsValue(tmpLastPeriodBar) else -futureDepth;

rec currentPriceLevel;
rec currentPoints;
if (state == state.uptrend and isCalculated) {
    currentPriceLevel =
        fold barWithMaxOnPeriodI = lastPeriodBar to 1 with barWithMaxOnPeriodAcc = minMaxPrice
            do Max(barWithMaxOnPeriodAcc, GetValue(minMaxPrice, barWithMaxOnPeriodI));
    currentPoints =
        fold maxPointOnPeriodI = lastPeriodBar to 1 with maxPointOnPeriodAcc = Double.NaN
            while IsNaN(maxPointOnPeriodAcc)
            do if (GetValue(priceH, maxPointOnPeriodI) == currentPriceLevel)
                then maxPointOnPeriodI
                else maxPointOnPeriodAcc;
} else if (state == state.downtrend and isCalculated) {
    currentPriceLevel =
        fold barWithMinOnPeriodI = lastPeriodBar to 1 with barWithMinOnPeriodAcc = minMaxPrice
            do Min(barWithMinOnPeriodAcc, GetValue(minMaxPrice, barWithMinOnPeriodI));
    currentPoints =
        fold minPointOnPeriodI = lastPeriodBar to 1 with minPointOnPeriodAcc = Double.NaN
            while IsNaN(minPointOnPeriodAcc)
            do if (GetValue(priceL, minPointOnPeriodI) == currentPriceLevel)
                then minPointOnPeriodI
 
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