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Hi Fred,
Jeffs document is correct, I think that to really come to grips
with the CCI one has to watch it real-time in order to get a feel
for its behavior and the entry and exit signals. Reading Jeffs
document is not sufficient. What helped me the most was just
watching the CCI indicator real-time. The CCI is a momentum
indicator when looking at the CCI in real-time you can see the burst
of energy of either the CCI or the Turbo. When you see that you know
there is a more than fifty percent change that your trade will have
follow through. I think that these small visual clues are not taken
into consideration when back testing the CCI in the room we call
these the nuances.
When trading manually/ Discretionary one adjusts to the market
environment, while a canned back tester rigidly performs its
algorithm regardless of market conditions and sometimes producing
unrealistic buy and sell signals and unrealistic profits and losses.
Regards
Guno
--- In amibroker@xxxxxxxxxxxxxxx, "Fred" <ftonetti@xxxx> wrote:
>
> Guno,
>
> Although I would agree that Head & Shoulder or Ghost patterns are
> sometimes difficult to detect by AFL or other similar language, I
> would think indicators like zeroline rejects are relatively easy
to
> write code for. The technique as defined in the pdf is pretty
> straighforward. The problem is when some have written code that
> does in fact identify the pattern it is not particularly
profitable
> when traded over lots of issues and long periods of time. So I
> guess the question for those like you who have studied the method
> and trade it manually is ... Is the description in the pdf
> accurate ? If not then I understand the differences. If it is
then
> my conclusion is that on larger testing samples over longer
periods
> of time it isn't practrical.
>
> Christopher,
>
> As far as backtesting goes ... If one can write a system in AFL
one
> can backtest it.
>
> --- In amibroker@xxxxxxxxxxxxxxx, "gunovanengel"
<gunovanengel@xxxx>
> wrote:
> >
> > Hi Fred,
> >
> > I first learned about woodies system about a year ago, while
> > surfing the internet looking for systems and indicators. The
> first
> > two months I just listened to the audio files on woodies
website
> I
> > did not do any actual trading with woodies system.. Up to that
> time
> > I was trading EOD systems I got from various sources. After
> > listening to the soundfiles at the website I decided to purchase
> > Hotcom lite. I simply watched the Hotcom charts and listened to
> the
> > moderators for one or two months. After about four months I
> decided
> > to switch to realtime trading. I purchased Esignal data and
> started
> > experimenting with woodies CCI on amibroker.
> >
> > Putting it on a time line
> >
> > 0 2 4
> > 10 months
> >
>
|__________________|_________________|______________________________|
> > Listening to the sound | Listening to mods | Paper trading
> the
> > CCI later
> > Filles on woodies site | on Hot comm. | trading
> stocks
> > in 5 or 10 lots
> >
> > It was easy to write the code to see whether CCI is above or
> Below
> > the Zero line.
> >
> > The problem I faced was in writing the code the rules to
identify
> > the tradable patterns..
> > Woodie has about nine tradebale patterns
> > 1. Ghost (head and shoulders on CCI )
> > 2. Inverted Ghost
> > 3. Vegas trade
> > 4. Famir Shamu
> > 5. Zeroline Reject
> > 6. Horizontal trendline Break
> > 7. Trendline Break
> > 8. Regular diversions
> > 9. Zeroline rejects
> >
> > The problem is that you recognize the patterns on screen. But it
> is
> > difficult if not impossible to define these patterns into a
> computer
> > algorithm that accurately catches these patterns. For instance
> take
> > the Ghost pattern. How to program my computer the find the head
> and
> > the shoulders? I see it on my screen but I cannot write computer
> > code to find them. In the past three months I traded three
ghost
> > patterns giving me a nice profit. So I know it works but I
cannot
> > program it. When I see it I recognize it, but I cannot program
it.
> >
> > My bread and butter is the Zeroline reject. 95% of my tardes are
> > zeroline rejects. A zeroline reject is a CCI line coming down
from
> > above the 100 Line, the moment it turns up it becomes a zeroline
> > reject. Meaning price hit a resistance point. I see it on my
> > screen but I cannot program it. I have tried to write a
scanning
> > algorithm to find Zeroline rejects without success.
> >
> > What I do every evening is to manually flip through the charts
in
> my
> > Amibroker database ( more than 500) looking for stocks
that
> > show zero line rejects or ghosts. Not very high tech but it
works
> > for me.
> >
> >
> > Hope this helps
> >
> > Regards
> > Guno
> >
> > Check out
> > Activetrader article on the Ghost pattern
> > http://193.203.240.46/woodiescciclub/activetrader-mag/index.htm
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "Fred" <ftonetti@xxxx> wrote:
> > >
> > > I'm not questioning your path or how you got there or how long
> it
> > > took. But straightforward as a term doesn't seem to fit a
> trading
> > > system that takes 8+ months to learn. Can you speak to which
of
> > the
> > > techniques of Woodies you use and how you use them or is that
in
> > > some way proprietary information ? I would think if the
> > methodology
> > > really were straightforward one would be able to write AFL for
> > it.
> > > Can you explain for the benefit of all why that doesn't appear
> to
> > be
> > > the case ?
> > >
> > > Thanks in advance,
> > >
> > > Fred
> > >
> > > --- In amibroker@xxxxxxxxxxxxxxx, "gunovanengel"
> > <gunovanengel@xxxx>
> > > wrote:
> > > >
> > > > Just completed High probability trading
> > > > Take the steps to become a Successful trader by Marcel Link
> > > > Published by Mc GrawHill. a very good book.
> > > >
> > >
> >
>
http://www.amazon.com/exec/obidos/ASIN/0071381562/qid=1107884848/sr=2
> > > > -1/ref=pd_ka_b_2_1/104-2232989-6418306
> > > >
> > > > It took this guy seven years to become a sucessfull trader
> > trading
> > > > for a living. I took me about 10 months to evolve from a
> losing
> > > > trader into a profitable trader trading for living using
> woodies
> > > > system.
> > > >
> > > >
> > > > --- In amibroker@xxxxxxxxxxxxxxx, "Fred" <ftonetti@xxxx>
wrote:
> > > > >
> > > > > Straightforward ? and it takes 8+ months to learn ? Some
how
> > > that
> > > > > doesn't quite seem to fit.
> > > > >
> > > > > --- In amibroker@xxxxxxxxxxxxxxx, "gunovanengel"
> > > > <gunovanengel@xxxx>
> > > > > wrote:
> > > > > >
> > > > > > 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 !
> > > > > > >
> > > > > > >
> > > > > > >
> > > > > > >
> > > > > > >
> > > > > > >
> > > > > > >
> > > > > > > __________________________________
> > > > > > > Do you Yahoo!?
> > > > > > > Yahoo! Mail - Find what you need with new enhanced
> search.
> > > > > > > http://info.mail.yahoo.com/mail_250
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