Is It Really The Start of Something New? July 20, 2011

[Rembert]

I have made a linkable version of a 3-day chart. Just change the number of days manually and "update" for other periods.
http://stockcharts.com/h-sc/ui?s=$TICK&p=1&yr=0&mn=0&dy=3&id=p91815521896&a=18 0203587

I think you need to be a real-time subscriber ($34.90/month, but big discounts for yearly).

Billy

I'm a regular subscriber (no realtime). I can see your chart just fine.

[nickola.pazderic]

try: $TICK

[Billy]

-1- We always hear from technical analyst that previous support now becomes resistance. Why does cluster analysis ignore this "concept"?
-2- Does Ichimoku supplement S/R analysis in any way then?
-3- Finally, IWM is trading just below the Senkou Span A ( the bottom of the 60 minutes bearish cloud) which should act as resistance. For months now, you have no longer presented Ichimoku short term analysis. Is this by design because it no longer part of your investment process? I for one use them for risk and E(r) analysis and would be quite interested from time to time to get your view on this as far as IWM is concerned.

Pierre Brodeur

Bonjour Pierre,

-1- Cluster and pivot analysis is not different from other technical analysis. Previous support becomes resistance and inversely. Only interpretation is easier with multi-pivots, since for each timeframe you can make the distinction between equilibrium S/R at pivot levels and intermediate consolidations in a trend at the various S123 and R123’s.

-2- Ichimoku analysis is better for discretionary trading and for making real-time decisions intraday. It can complement S/R analysis but is hard to quantify. We know the optimal timeframe is the 60 minute with Ichimoku, while the multi-pivots weighings start on the daily timeframe, 6.5 times longer.

-3- I still do my ichimoku daily routine analysis and know very well what you are talking about with the Senkou Span A. But remember that this forum is for discussing the robot signals and Ichimoku is no part of them, neither as Fibonacci or MIDAS for example.

Knowing where the Ichimoku clouds and spans are is certainly impacting my commentary. I will try to make some Ichimoku updates in the VIT main forum when I find the time. It must encompass all timeframes and compare all main indices to be useful. While it takes me only 5 minutes in my daily routine, posting clearly and concisely about it to a mostly novice public would probably require me 2 hours of work. Also such posts usually spur tons of questions and I must sacrifice more of my rare and precious leisure time.
Again, Ichimoku is mostly helpful for discretionary trading decisions and therefore cumbersome for robot traders.
Billy

[Pierre Brodeur]

. Also such posts usually spur tons of questions and I must sacrifice more of my rare and precious leisure time.

... and I thought that with the robots, you NOW had plenty more of leisure time [lol]

Thanks for the answer

A bientot

Pierre Brodeur

[manucastle]

For anyone who's interested, these are the settings for the out of the can "Custom 4 Lines" indicator in TradeStation that will replicate Billy's settings.

Attachment 9409

EB,

I have this up and running and it is VERY useful.

Also useful is using this with $TIKRL which is the Russell 2000 Tick index which is possibly very useful for IWM.

Trev

[ilonaross]

Hi.

The problem's not with getting $TICK. The problem was getting identical settings. Thanks anyway, though. I'm going to sign up for Stockcharts or Tradestation, and if I ever figure out how to get the settings on ToS I'll post it.

Thanks to all who posted instructions.

[davidallison@gmail.com]

I guess $TIKRL, is not available on stockcharts.com, which is unfortunate. I only see $TICK and $TICKQ. Perhaps I will ask stockcharts.com if they will add the symbol. Dave

[Billy]

I guess $TIKRL, is not available on stockcharts.com, which is unfortunate. I only see $TICK and $TICKQ. Perhaps I will ask stockcharts.com if they will add the symbol. Dave

Excellent initiative, Dave. I propose that all interested do the same; a massive demand has much more impact!
Billy

[nickola.pazderic]

Hi.

The problem's not with getting $TICK. The problem was getting identical settings. Thanks anyway, though. I'm going to sign up for Stockcharts or Tradestation, and if I ever figure out how to get the settings on ToS I'll post it.

Thanks to all who posted instructions.

Perhaps I'm in the same boat: playing catch up with indicators and terminology. Let me know what you might find.

Thanks...

[davidallison@gmail.com]

If all subscribers to stockcharts.com and those interested would kindly go to
http://stockcharts.com/help/doku.php...symbol_request
Please ask them to add the tick chart for the Russell 2000, symbol $TIKRL.
I believe this would be very helpful to our IWM robot community.
Thanks, Dave