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Brian,
> How about some trading insight using YOUR SOFTWARE
> rather than a blank message and your URL. HMMM, that
> sounds like a way to advertise and show how it can help others.
Thanks for the opportunity to elaborate on price levels strategies.
1. We do not sell trading systems and I do not want to give too
specific insights into our functions. Tickscape is a tool - like any
other graphing method - it is a tool to express something. The
software gives you the freedom to express some functions which you
could not express otherwise.
2. So what kind of functions are these ? Tickscape is based upon
price levels since price levels is everything a trader is concerned
about.
If I get into position I want to know at which price level I can go
in, how is my risk and how far can the market go from there im my
direction - do I cover my transaction costs ?
So what Tickscape tries to do is to show indicators across ALL
prices and not just what the indicator is NOW at the current price.
Most traditional indicators cannot do that because they only
calculate the value for the current tick.
A different kind of category is a trendline. They calculate values
for some price range. If I believe in trendlines then I know I must
buy/sell whenever that line is broken. So I can plan my trades
and make stop orders.
So now suppose you had found a more complex function than a
trendline that is not just present at a specific level. Suppose your
function gives you values across a whole range of prices then you
need some kind of 3D (or arrays) approach to make your strategy.
If you cannot imagine what kind of functions these could be
then basically imagine several trendlines plotted above each other
which can accumulate and substract. If you do have functions like
that then you need some tool like Tickscape.
Many kind of traditional trading concepts are based upon the same
ideas. If you think about retracement levels, market profiles,
trendlines then all these techniques have got something in common:
They are based upon absolute price levels.
The reason why price levels are important is because people look at
them and can remember them unlike some elaborate indicators. If the
market turned at some point or did show some other action then this
price level gets stored into thousands of traders brains and becomes
important.
This is why it is important to follow this and this is why you need a
tool to show this process.
As said before I do not want to reveal our functions because we are
not system sellers. We want to give you a tool to explore
your strategies based upon price levels.
Some SIMPLE questions which Tickscape answers:
Show me the volume seperately for all price levels.
Show me the volume negative for the price levels if the price
went down afterwards and positive when the price went up after the
trade.
Show me the absolute percentage that the market moved after it
hit this price level (find volatile levels).
Regards,
Gerrit Jacobsen
http://www.tickscape.com
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