**Steinitz** Method Revealed Here - page 87
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I'm using HAS Bar versions:
N4 TF HAS Bar
N4 TF HAS Bar2
which I believe are the current versions updated by Lee. The upper timeframe bars do not appear to update properly. Compare the difference between the HAS Bars on the two charts. Chart 1 is after my platform had been running for a number of hours; chart 2 after I switched to a 30M chart then back to 15M.
Notice the difference in the HAS Bars. Why does this happen?
ChaseI'm not going to say that this is the problem that I try to explain. For all the same other things went wrong...
But that is what you can expect trading these MTF indicators.
If price starts to drop during a 4 hour period then the indicator will turn red in that period or ribbon.
If lets say after 2 hours price starts to go up again and at the end of the 4 hour period it closed higher then at the start and if you then going to jump to an other time frame and back again or as I said re-start your platform, that whole period will show as a blue period and the red dots on that ribbon will not be their anymore.
So for all the same you would have taken a short because all ribbons turned red. Price starts to up again that will make you to have a losing trade and if you change to an other time frame and back or re-start your platform it will give the stupid feeling that you should not have taken in a short because there is no more alignment of all 4 ribbons beeing red....
How will you feel if this happens to you twice a day ??...
Thats what I mean with not tradeble...
That means also that one can only be 100% shure of a color of a certain time frame if that particular time frame is closed or finshed. Meaning that you are only 100% shure of the 4h color on that ribbon if that time frame is closed. at 04.00h or 08.00h or 12.00h or 16.00h or 20.00h etc...
Meaning also if you trade from 4 ribbons and the biggest timeframe is the 4h you can only take in a position every 4hours if all ribbons are the same color.
If you would take the daily ribbon into account also to to make descissions for entrys, you will only be 100% shure of the color of that ribbon if the day is finshed.
because for all the same price goes down in the morning and you have a red ribbon but around 12.00h price start to go back up again seriously at the end of the day and if you re-start or jump between time frames the red ribbon in the morning will have disapeared and will show you ALL BLUE...
Meaning that you could not have taken in a short entry if there was an alignement of all ribbons to red color.
friendly regards...iGoR
Hi
So maybe the ribbons could be changed not to plot anything unless it marks the end of the timeframe so we see a box for every 5 minutes and then blank-blank-box on the 15 minutes when running on a 5 min chart ... I think visually this would give a clearer impression ... I like 30 min charts so taking a trade on a 30 min boundary is fine by me with the 5 and 15 ribbons as filters/confirmations ... now exit points ... that's a whole different matter!!!!!
setting the record straight
Igor is trying to explain the nature by which candles (bar or line) react in real time. Many of us understand that before a candle reaches its particular TF it will be in a state of flux. Meaning it is a current snapshot of what OHLC is displaying. Until it reaches its dedicated TF i.e. 30M or 1hr it is a unfinished candle that is unstable and will change color.
Ok enough of that. Our program does not have any issues with that above as it was programmed with parameters that use CLOSED candle data ONLY. So in back testing there would be issues all over the place if the data bank was unable to give us a tick by tick of what happened in HISTORY. If the tester can do this well then all this discussion is moot. If it does not handle tick by tick properly then Igor has a valid point.
Let me say I am not in favor of backtesting and prefer going forward. Our backtesting showed serious issues with major changes in trend that was not the problem of whether we were off a few ticks or minutes. This is bigger then that.
So in summary lets not get our painties in a wad and focus on the main issue which is how to avoid getting caught in a major TF reversal that doesn't come back. Remember the scalping method takes a piece of the move but will always have a loser at the end of the trend that we are looking to scalp. I always had this problem when scalping trends.
This is why I am hoping the original method will be able to perform better since we are taking initial positions and trying to set a balance between staying power and keeping pips.
__________________
So to summarize........
Our EA's take the close of all bars. Therefore eliminating any issues with what color you are trading. I think Igor "god bless his sole" has over dramatized this and didn't need to start a new thread. If you want to back test and debate tick by tick data being an accurate way to measure the closed vs unclosed bar then by all means start a thread for that.
Our EA's we ALWAYS coded on the closed of BARS PERIOD. Igor next time please email me first before starting a whole new thread on something that really is not important to us as we depend on forward testing. And in fact our results on the back test are higher TF's which means the unclosed vs closed issue is lessened by that fact.
If we were micro trading you point would be more useful.
That means also that one can only be 100% shure of a color of a certain time frame if that particular time frame is closed or finshed. Meaning that you are only 100% shure of the 4h color on that ribbon if that time frame is closed. at 04.00h or 08.00h or 12.00h or 16.00h or 20.00h etc...
Meaning also if you trade from 4 ribbons and the biggest timeframe is the 4h you can only take in a position every 4hours if all ribbons are the same color.
If you would take the daily ribbon into account also to to make descissions for entrys, you will only be 100% shure of the color of that ribbon if the day is finshed.
because for all the same price goes down in the morning and you have a red ribbon but around 12.00h price start to go back up again seriously at the end of the day and if you re-start or jump between time frames the red ribbon in the morning will have disapeared and will show you ALL BLUE...
Meaning that you could not have taken in a short entry if there was an alignement of all ribbons to red color.
friendly regards...iGoRIgor I completely agree with you. I pointed out this problem just one month ago, but it seems people here dont' want to get this point and understand it.
Most of the time these forums really seem to be playground for people dreaming of the holy grail or someone who provides it... just give your topic a somewhat "secret" title, throw in some theories and past history of yourself to gain credits, start to collect emails....the rest is always the same...it's just a matter of time when these topics run out and people jump to another "system"...
Igor I completely agree with you. I pointed out this problem just one month ago, but it seems people here dont' want to get this point and understand it. Most of the time these forums really seem to be playground for people dreaming of the holy grail or someone who provides it... just give your topic a somewhat "secret" title, throw in some theories and past history of yourself to gain credits, start to collect emails....the rest is always the same...it's just a matter of time when these topics run out and people jump to another "system"...
Johnny....
Why are you talking in "3rd" person? Just step up and say what you mean directly to me. I know very well how candles behave. You aren't listening to what I said about this concept or how I coded the EA on CLOSING bars.
Many people on here just want to sit back and reap the rewards of people that try hard to put out an honest method. If you don't like what you see here don't let the door slam you on the ass.
I have had offers from about 25% of my members to help pay to code the EA. Ask anyone here if I have asked for a dime. I recommend that you go somewhere else with your rude comments. If my work turns out to help others that will be great. If not, at least I tried to code an EA that as you might know are few and far between that actually produce money.
Now for the hundreds of emails I have received that thank me for discussing a method that they understand and feel comfortable trading I say this. I want you all to give back the money you have made with this method(s) since I am being told it doesn't work. Yes it was a figment of your imagination that you are finally becoming profitable. Please don't be fooled its all smoke and mirrors. Please give back all the profits at your earliest convienance.
Thanks
2 iGoR
Hi there,
Its all true what you say about MTF indicators, they have this nasty habit of color changing. But as I understand (correct me if I'm wrong) this repainting could be avoided if we use signals that occur just after the biggest used timeframe has completed its candle. Of course number of entries will be reduced, but also repainting thing will be gone too. Is this a possible approach or I am missing yet something else here?
It Works
Steinitz-
Your system really WORKS. I have never seen any better and simpler method than this one till date.
Keep up the good work.
God bless
- Sukhen
Johnny....
Why are you talking in "3rd" person? Just step up and say what you mean directly to me. I know very well how candles behave. You aren't listening to what I said about this concept or how I coded the EA on CLOSING bars.
Many people on here just want to sit back and reap the rewards of people that try hard to put out an honest method. If you don't like what you see here don't let the door slam you on the ass.
I have had offers from about 25% of my members to help pay to code the EA. Ask anyone here if I have asked for a dime. I recommend that you go somewhere else with your rude comments. If my work turns out to help others that will be great. If not, at least I tried to code an EA that as you might know are few and far between that actually produce money.
Now for the hundreds of emails I have received that thank me for discussing a method that they understand and feel comfortable trading I say this. I want you all to give back the money you have made with this method(s) since I am being told it doesn't work. Yes it was a figment of your imagination that you are finally becoming profitable. Please don't be fooled its all smoke and mirrors. Please give back all the profits at your earliest convienance.
Thankssorry if you get me wrong steinitz. i did not want to sound rude, (instead i think you use a somewhat rude language ;-)
i just made a point in 3rd person, because you are not the only person who setup a system "that works", and i wanted to referr to them also.
i'm glad you found something that works for you and your followers. wish you good luck and would be one of the first to congratulate you if you could manage to make your EA work with success!
ps: do you really think that hundreds of emails are a prove that your system is profitable?
"A man wears one watch and thinks he can tell the time. A man wears two watches and get's enlightened about the relativity of time"
new jb proverb.....
Steinitz-
Your system really WORKS. I have never seen any better and simpler method than this one till date.
Keep up the good work.
God bless
- SukhenHi Sukhen,
That is nice to hear.
In this very same section of this forum I have a topic. On a regular base I post my daily results so people can follow the evoluation of my account and results. I do this by a printscreen. So people would have no doubts what so ever about what I say.
It would be nice if you could post a printscreen of the results you have made so far, so people can follow or checkout how you made these profits and most important the speciefic time you entered your trades or took the exits...
friendly regards