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Hi Natasha
Do not be hard on yourself take the time, give yourself eight
months to a year to learn woodies system. After that you can add to
your trading arsenal by adding other methods and systems. Try to get
a real good grasp of Woodies system.
In essence the system is quite straightforward. It tries to give you
a systematic approach to the markets. The market is a manic
depressive beast. One moment prices shoot up to the sky. The next
minute they plunge to all time lows. Woodies system helps you to
find order in the chaos of rising and falling prices. It signals you
when to trade from the Long side, the Short side and when to stand
aside.
The main rules of the system are.
1. when prices are more than six bars above the zero line only
trade from the Longs Side
2. When prices are more than six bars below the zero line only
trade from the short side
When price are more than six bars above or below the zeroline it
means that there is an established up or down trend.
When you have found an establish up or down trend, look for a
tradable pattern. There are about eight or nine tradable patterns in
woodies system. I use the following three in my trading. My
preference goes to the ZLR.
ZLR - Zero Line Rejects
TLB - Trend Line Breaks
HTLB - Horizontal Trend Line Breaks
The philosophy behind these patterns is to take advantage of prices
hitting support or resistance. The system work on all time frames
(Intraday & EOD) on currencies, stocks and commodities. It is a
censoring system with a trigger to signal you when to enter the
market of your choice.
My suggestion to you is to start with just one pattern for instance
the ZLR.
Jeff `s Document on the CCI is a good starting point.. Here is the
link
http://woodiescciclub.com/Trading-Woodies-CCI-System.pdf
Paper trade the system for a while, after this trade stocks in lots
of 5 or 10 , when you make a mistake you only lose a couple of
cents at the most a few dollars. The advantage of this is that you
are practicing real trading. Paper trading is phony. It is only good
for practicing the moves. But after this move on trading small lots
5 to 10 stocks. As your expertise and confidence grows you can
increase your trading size.
Regards
Guno
--- In amibroker@xxxxxxxxxxxxxxx, Natasha !! <dynomitedoll_ddd@xxxx>
wrote:
> Hi,
>
> Thanks a lot for the information .It was very educative and
helped
> me a lot. I had well just about given up on the woodies and was
looking
> at something else but now i will take a second look.
>
> Here is Mr Herbert's code :
>
>
> @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
> Here is Woodie's CCI 14 code. In my opinion the patterns are more
> suitable for short-term trading. However, I heard that he mentioned
> about some other proprietary pattern/indicator.
>
> Herbert
>
> -----
> _SECTION_BEGIN("Woodie's CCI");
>
> //Woodies CCI, Long term CCI;
>
> T=14;
>
> Title = Name () + " " + FullName() + " "
>
> + "CCI" + " Periods:" + WriteVal(T,0);
>
> B=Cross(CCI(T),0);
>
> D=Cross(0,CCI(T));
>
> COL=IIf(BarsSince(B)>4 AND CCI(T)>0,colorBrightGreen,IIf(BarsSince
(D)>4
> AND CCI(T)<0,colorRed,colorLightGrey)) ;
>
> Plot(CCI(T)," ",COL,styleHistogram+styleThick);
>
> Plot(CCI(T),"CCI 20",colorBlack,styleLine+4);
>
>
>
> // Plot range lines
>
> Plot(200,"",colorRed);
>
> Plot(-200,"",colorRed);
>
> Plot(100,"",colorBlue);
>
> Plot(-100,"",colorBlue);
>
> Plot(0,"",colorYellow,styleThick);
>
> PlotGrid(50,colorGreen);
>
> PlotGrid(-50,colorGreen);
>
> GraphXSpace=2;
>
> _SECTION_END();
>
> @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
>
> This is coded by Mleonsprint:
>
> Formula:
> Title = "Woodies CCI " + " " + FullName() + " " + Date( ) ;
>
> A=Param("CCI TURBO PERIODS",6,3,14,1);
> A1=Param("CCI 14 PERIODS",14,7,20,1);
> A2=ParamColor("CCI TURBO",colorBrightGreen);
> A3=ParamColor("CCI 14",colorRed);
> A4=CCI(A);
> A5=CCI(A1);
> A6=IIf(A5<0,colorBrightGreen,colorRed);
> A7=IIf(Ref(A5,-5) <0 AND Ref(A5,-4) <0 AND Ref(A5,-3) <0 AND Ref
(A5,-2)
> <0 AND
> Ref(A5,-1) <0,colorRed,A6);
> A8=IIf(Ref(A5,-5) >0 AND Ref(A5,-4) >0 AND Ref(A5,-3) >0 AND Ref
(A5,-2)
> >0 AND
> Ref(A5,-1) >0,colorBrightGreen,A7);
> Plot(A5,"CCI TURBO HISTOGRAM",A8,styleHistogram);
> Plot(A4,"CCI TURBO",A2,styleThick);
> Plot(A5,"CCI 14",A3,styleThick);
> Plot(0,"ZERO LINE",colorBlack,styleThick);
> Plot(100,"HUNDRED LINE",colorBlack,styleDots);
> Plot(-100,"MINUS LINE",colorBlack,styleDots);
>
> @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
> Coded by wring:
>
> AFL Library
> List Add formula
>
> Details:
> Formula name: CCI Woodies Style
> Author/Uploader: Larry Jameson - cljameson@xxxx
> Date/Time added: 2004-11-16 18:13:49
> Origin:
> Keywords: Woodies CCI
> Level: semi-advanced
> Flags: indicator
>
> Download formula file | Delete formula
>
> Description:
> This CCI chart incorporates some of the features seen on a Woodies
CCI
> Chart.
>
> Formula:
> ///////////////////////////////
> // CCI Woodies Style - Coded by Wring
> // Amibroker 4.63.1
> ///////////////////////////////
> //
> // Note: Set Custom Scaling in dialog just below this dialogue box
> // to Min -350, Max +350
> //
> // Set Background color to DarkOliveGreen
> // Set Axes color to white
> //
> ///////////////////////////////
>
>
> z = CCI(14);
> LSMA = LinearReg(C, 25 );
> EMA34 = EMA(C,34);
>
> Title = Interval(2) + " " + Name() + ", " + EncodeColor
(colorOrange) +
> "CCI 14=" + round(z) + ", " + EncodeColor
(colorLightBlue) +
> "CCI 6=" + round(CCI(6)) + EncodeColor
(colorPink) +
> "\nPrice=" + H + ", " + L + ", " + C +
> EncodeColor(colorWhite) + " " + Date();
>
> // Colour the bars for Woodies Trend Following
> Plusbars = BarsSince(z < 0);
> Minusbars = BarsSince(z > 0);
> TrendBarCount = 5;
> for( i = 0; i < BarCount; i++ )
> {
> if (Plusbars[i] >= TrendBarCount)
> Color[i] = colorGreen;
> else
> if (Minusbars[i] >= TrendBarCount)
> Color[i] = colorRed;
> else
> Color[i] = colorBlack;
> }
>
> // CCI Histogram
> Plot(z,"",Color,styleHistogram | styleNoLabel);
> // CCI Line
> Plot(z,"CCI 14",colorWhite,styleLine | styleNoLabel | styleThick);
> // Turbo CCI
> Plot(CCI(6),"CCI 6",colorLightBlue,styleLine |
styleNoLabel);
> // zero line 25lsma
> Plot(0,"",IIf(C > LSMA,colorGreen,IIf(C<LSMA,colorRed,colorBlack)),
> styleThick | styleNoLabel);
> // Print the price label - Note div by 1000 to position price near
0
> line
> Plot(Prec(C / 1000,3),"",
> IIf(C >=Ref(C,-1),colorGreen,colorRed),styleNoLine);
>
> // Set up color for the 100s, green if 34ema above red if below
> Color = IIf(C>EMA34,colorGreen,
> IIf(C==EMA34,colorBlack,colorRed));
> // Plot the 100s
> Plot(100,"",Color,styleDots |styleNoLine | styleNoLabel |
styleThick);
> Plot(-100,"",Color,styleDots |styleNoLine | styleNoLabel |
styleThick);
> // Plot the 50s
> PlotGrid(50,colorTeal);
> PlotGrid(-50, colorTeal);
> // Plot the 200s
> PlotGrid(200,colorTeal);
> PlotGrid(-200,colorTeal);
> // Plot the 300s
> PlotGrid(-300,colorTeal);
> PlotGrid(300,colorTeal);
>
>
> @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
>
> I would be very much interested in your views and what if anything
is
> needed furthur in the above since you are already using the
woodiescci
> strategies and are more equipped than many to analyse.I did apply
these
> but since i was not too sure whether to pursue them further i didnt
> study them with interest.
> Thanks once again.
>
>
>
> =====
> Warm regards,
> Natasha !
>
>
>
>
>
>
>
> __________________________________
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