3 Line price break charting

[stevecartwright]

Thanx Anyway
Find The 5 And 10 Line Breaks And Just Write It Down---one Day U Gonna Remeber That Prices-----use Them As Targets


Thanx Again

I'll have a look at that its only a couple of lines of code need changing (used to be a programmer) s its only a couple on minutes. I'm busy with FX at the moment, lots of good free stuff. If you are interested look at Moneytec and Moneymaker system.
Steve

 

[Lightning McQueen]

if anyone stumbles by this thread and is interested in this strategy but is none the wiser then this link should help.

3 line break, point break, bricks all the same really

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1180+26255,00.html

if anyone knows any other links to this strategy please post them

Don

 

[rols]

if anyone stumbles by this thread and is interested in this strategy but is none the wiser then this link should help.

3 line break, point break, bricks all the same really

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1180+26255,00.html

if anyone knows any other links to this strategy please post them

Don

Don

There is very little info available online about three line break trading but if you are interested and willing to spend £35 then Steve Nison's 'Beyond Candlesticks' devotes a whole chapter to it. A pattern such as 'man in white suit with black shoes and emerging white neck' is very strong especially combined with entry on a conventional tick chart. Of course it's not a magic solution but another way of thinking 'outside of the box' so to speak.

http://www.amazon.co.uk/exec/obidos/ASIN/047100720X/026-9349113-0138039

 

[Lightning McQueen]

Don

There is very little info available online about three line break trading but if you are interested and willing to spend £35 then Steve Nison's 'Beyond Candlesticks' devotes a whole chapter to it. A pattern such as 'man in white suit with black shoes and emerging white neck' is very strong especially combined with entry on a conventional tick chart. Of course it's not a magic solution but another way of thinking 'outside of the box' so to speak.

http://www.amazon.co.uk/exec/obidos/ASIN/047100720X/026-9349113-0138039

Hey thanks rols I have just stumbled on your reply been far too busy working my ticket to Switzerland on that thread you dislike so much.
I can see you lurking waiting to pounce on probable imminent disaster
Anyway thanks for the info it is much appreciated.

Don

 

[rols]

Hey thanks rols I have just stumbled on your reply been far too busy working my ticket to Switzerland on that thread you dislike so much.
I can see you lurking waiting to pounce on probable imminent disaster
Anyway thanks for the info it is much appreciated.

Don

That's a pleasure Don.

Re. that other thread. I think the thing that finally pushed me over the edge was the "indiscriminate" use of "inverted commas" on every "post."

Below is a link to to the Swiss clinic where all such threads should be dispatched. I wonder if they do package tours?

http://216.239.37.104/translate_c?h...4.htm&prev=/search?q=Dignitas+&hl=en&lr=&sa=G

 

[TWI]

Problem with 3lb charts is that they look very appealing when viewed in an historical context but when you try to trade them realtime it is far less rewarding as the colour change often does not occur until a large move but shades an area below(Buy)/above(Sell) where the signal is received. This is not to say they are pointless, just not as good as they may initially appear.

 

[Lightning McQueen]

Hi twalker
thank you for your insight, the strategy looks so simple ive tried the paintbar version off the tradestation forum but didn't like that. the metastock version is next to useless as it runs in its own time frame rather than drawing blocks over the bars in realtime. thats why I like ttm bricks
really nice clean blocks over price bars but as you point out all is not as it seems ah well.

Regards

Don

 

[rols]

Problem with 3lb charts is that they look very appealing when viewed in an historical context but when you try to trade them realtime it is far less rewarding as the colour change often does not occur until a large move but shades an area below(Buy)/above(Sell) where the signal is received. This is not to say they are pointless, just not as good as they may initially appear.

This is precisely why they are so salutary. Through reading these charts in tandem with bar charts and others we can begin to gain an empirical insight into the notion that an essential ingredient of successful trading is to become contrarian and hence look forwards rather than backwards.

"Hindsight is always twenty-twenty."

 

[apig]

I use three line break charts for trading automation. The returns are higher than any other method.
One expert software guy told me he did not believe in them. First, you have understand them. One thing is that you have to understand that if your not just using them as an indicator other rules apply. You need very very very fast executiions or your testing of the strategy will be flawed. Use only 1 tick charts. Using one tick charts will capture all the data. Contrary to popular belief that the blocks are imaginary. A simple test will prove they are accurate. Simply take a one minute bar look at the range compare it with the blocks they are the same. If you backtest (aside from the fact that backtesting does not work)The blocks will show the full range of the of the trade or bars. Here is where you will have a problem. You will find the execution will be a few bars away from where they are indicated because you are dealing with one tick. If you where dealing with one tick and were not executed on that tick you would no find it unusual. But, because they have a different name some think there is a problem that does not exist. That is why you need fast fast executiion. If your program makes enough money and you have enough money to purchase a HFT platform it is worth doing but, in automation it will not work on a retail platform.

 

[stevecartwright]

I wll probably have more time in the new year to spend trading. At the moment I have a full time job. How and what are you trading to make a profit on just 3 ticks? Strikes me that with spread betting you need 6 to 8 points just to get in and out without loss. My startegy at the moment is PUT writing for the premium. I don't have to watch the screen to closely for this and it fits in with work.

10 years on, anyone still about