Tweaks/Experiments in Saint's Intraday Miniflow Method.
- Thread starter manojkch
- Start date
HI
I got an idea that i would like to share.
We use the system on the " Triple screen" method as propounded in the " New concepts in technical trading systems". Author I have forgotten.
We use the concepts as in the 30 minute flow/ 60 minute flow system's, that are basically very sound. The 2ema and 5 ema are also incorporated.
...... Now we examine three timeframes for a decision to enter or sell. Each timeframe has to be 5 times loner than the first.This is so stated in the Triple screen method.
.......Hence to my mind the 3 min, 15 minute, 60 minute come near this
.The 60 minute gives us the trend and the 15 minute should confirm it or give an early warning signal.Their will be 4 bars in the 60 minute timeframe and the latest 2 bars are to be read with the 60 minute trend.
...Entry and exit signals are seen on the 3 minute TF.
Just an attempt o earliest possible signals.The pivots on all TF's should be in conformity.I dont know if it will work...but i am trying to fit in a concept propounded by a great master of technical trading.:clapping:
I got an idea that i would like to share.
We use the system on the " Triple screen" method as propounded in the " New concepts in technical trading systems". Author I have forgotten.
We use the concepts as in the 30 minute flow/ 60 minute flow system's, that are basically very sound. The 2ema and 5 ema are also incorporated.
...... Now we examine three timeframes for a decision to enter or sell. Each timeframe has to be 5 times loner than the first.This is so stated in the Triple screen method.
.......Hence to my mind the 3 min, 15 minute, 60 minute come near this
.The 60 minute gives us the trend and the 15 minute should confirm it or give an early warning signal.Their will be 4 bars in the 60 minute timeframe and the latest 2 bars are to be read with the 60 minute trend.
...Entry and exit signals are seen on the 3 minute TF.
Just an attempt o earliest possible signals.The pivots on all TF's should be in conformity.I dont know if it will work...but i am trying to fit in a concept propounded by a great master of technical trading.:clapping:
Manoj,
Wonderful study my friend and thanks for your kind words
.
You are light years ahead interms of your knowledge related to "Indicators". I will try to learn these indicators and try to incorporate stuff. Your study on entries is really interesting, do share the result with us when you have completed.
B/w there's another reason i need to personally thank you. In Sharekhan TradeTiger terminal, when i draw the EA 2 and EA 5 curves, these curves started with the "2nd" and the "5th" candlestick bars irrespective of the TimeFrame. In plain, if I stare at the 30min TF I will not know anything until 12.00, because the EA 5 curve starts at 12.00 . And in todays case, the "Reversal" was way before that at 11.00. After reading your post again now, I thought why shouldn't I consider the previous day as well and voila, the 30min TF confirmed a cross-over at 11.00 :clapping:.
I should say, this is the power of sharing one's ideas, you are made to think in a completely different way :thumb:.
Yippieeeeeeee, I got the "Thanks Button" [my 51'st post].
Regards,
-Sri
Wonderful study my friend and thanks for your kind words
. You are light years ahead interms of your knowledge related to "Indicators". I will try to learn these indicators and try to incorporate stuff. Your study on entries is really interesting, do share the result with us when you have completed.
B/w there's another reason i need to personally thank you. In Sharekhan TradeTiger terminal, when i draw the EA 2 and EA 5 curves, these curves started with the "2nd" and the "5th" candlestick bars irrespective of the TimeFrame. In plain, if I stare at the 30min TF I will not know anything until 12.00, because the EA 5 curve starts at 12.00
. And in todays case, the "Reversal" was way before that at 11.00. After reading your post again now, I thought why shouldn't I consider the previous day as well and voila, the 30min TF confirmed a cross-over at 11.00 :clapping:.I should say, this is the power of sharing one's ideas, you are made to think in a completely different way :thumb:.
Yippieeeeeeee, I got the "Thanks Button" [my 51'st post].
Regards,
-Sri
Thanks and Best wishes!
Manoj
HI ALL
We need to follow this system proposed by 'Humble' a bit more closely.It gave really good results today in NF, RIL, EDUCOMP.
The 'MF' was not getting filled for a long time even after the NF had lost well over 100 points.
This idea of 'humble' gave an early entry and +70 points in the 'NF'.
PL SEE ATTATCHED CHART.
We need to follow this system proposed by 'Humble' a bit more closely.It gave really good results today in NF, RIL, EDUCOMP.
The 'MF' was not getting filled for a long time even after the NF had lost well over 100 points.
This idea of 'humble' gave an early entry and +70 points in the 'NF'.
PL SEE ATTATCHED CHART.
Looks like we forgot the idea proposed by 'humble'.
One of the key questions in my mind today was that what if the MF does not materialise after a slide of 100 points?
Keep waiting?
The 15 min charts showed no reversal that took out the previous high on 30 TF / 60 TF.
On failure of the 15 min bar to take out the 30 min bar top, should not I ignore it and watch the next bar.
If the next bar is also declining without the MF materialising then what to do?
This happened for 6/7 bars. NF was +100 points down.
Perhaps the system has limitations in strongly trending markets... just like momentum indicators have their limitations. For example the 'Rate of change' indicator is known to give erroneous readings in 'gap up' or 'gap down' situations.
Hence, the importance of this system.:clapping::clapping:
One of the key questions in my mind today was that what if the MF does not materialise after a slide of 100 points?
Keep waiting?
The 15 min charts showed no reversal that took out the previous high on 30 TF / 60 TF.
On failure of the 15 min bar to take out the 30 min bar top, should not I ignore it and watch the next bar.
If the next bar is also declining without the MF materialising then what to do?
This happened for 6/7 bars. NF was +100 points down.
Perhaps the system has limitations in strongly trending markets... just like momentum indicators have their limitations. For example the 'Rate of change' indicator is known to give erroneous readings in 'gap up' or 'gap down' situations.
Hence, the importance of this system.:clapping::clapping:
Yes Jatayoo sir, for days like yesterday this would definitely provide a good entry. However on days like last "Friday", we would have had 4 reversals . We will have to use this cautiously as of now.
Also i see that the if a reversal is due then we can look at the 1, 3, 5, 10, 15 and 30 to confirm the same. Why do we do this and How?
Say we have a reversal in 3min TF and say on BAR 10 [for example]. If the 11th BAR does not negate the reversal of BAR 10, we will not get a reversal in 5min TF.
Similarly, lets say we have a reversal in the BAR 10 in the 5min TF. This reversal should not be negated or in other words there should not be another reversal in the next 3bars i.e 11th, 12th and 13th. If there is a second reversal within the next 3 bars of the 5min TF, we will not see the reversal in the 15min TF else we will see it. [This usually happens before a Break-out/down] .
So like this, if we can keep a watch at the 3min TF and 5min TF for the reversals, we might be in a better position to go with the flow of the market. We will have a maximum lag of 6 minutes wrt to the movement of the market.
But on days like today, even this 6 minutes lag will not work, within 5 minutes, NF fell over by 55 points. The closest we can get to the flow of the market is by following the 1min TF. Only and Only when NF moves with pace as of today's fall in the later half, we can decide our trades based on 1min TF and 3min TF. Further, we can keep switching from 1,3,5,10,15 and 30 TFs with the above mentioned examples.
Key is identifying a reversal in 3, and 5 and continuously checking/verifying whether a reversal is being negated. This though keeps you busy and might make you shed a bit more for your broker, will help minimize our "losses" or in other words, "maximizes" our profits. I am a beginner and your inputs most welcome.
Regards,
-Sri
. We will have to use this cautiously as of now. Also i see that the if a reversal is due then we can look at the 1, 3, 5, 10, 15 and 30 to confirm the same. Why do we do this and How?
Say we have a reversal in 3min TF and say on BAR 10 [for example]. If the 11th BAR does not negate the reversal of BAR 10, we will not get a reversal in 5min TF.
Similarly, lets say we have a reversal in the BAR 10 in the 5min TF. This reversal should not be negated or in other words there should not be another reversal in the next 3bars i.e 11th, 12th and 13th. If there is a second reversal within the next 3 bars of the 5min TF, we will not see the reversal in the 15min TF else we will see it. [This usually happens before a Break-out/down] .
So like this, if we can keep a watch at the 3min TF and 5min TF for the reversals, we might be in a better position to go with the flow of the market. We will have a maximum lag of 6 minutes wrt to the movement of the market.
But on days like today, even this 6 minutes lag will not work, within 5 minutes, NF fell over by 55 points
. The closest we can get to the flow of the market is by following the 1min TF. Only and Only when NF moves with pace as of today's fall in the later half, we can decide our trades based on 1min TF and 3min TF. Further, we can keep switching from 1,3,5,10,15 and 30 TFs with the above mentioned examples. Key is identifying a reversal in 3, and 5 and continuously checking/verifying whether a reversal is being negated. This though keeps you busy and might make you shed a bit more for your broker, will help minimize our "losses" or in other words, "maximizes" our profits
. I am a beginner and your inputs most welcome.Regards,
-Sri
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