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Hello Wes,
One thing I've played with a bit is to create a summation of tiki. No
real nice looking curves so far but I do think there is a kind of
"balance of power" reading to be had. Not for scalping but to see if
stealth accumulation is taking place prior to the rest of the market
reacting. something like this:
summation(tiki's > +20, 15 minutes) 0 summation(tiki's < -20 , 15
summation(tiki's > minutes)
a sort of net extreme tiki over the last 15 minutes.
Thursday, February 21, 2002, 3:34:06 PM, you wrote:
WW> Bill,
WW> I am unsure of your intent or the timeframes you used, but were you using
WW> 1-minute bars on the TIKI or something else? Program trading only lasts for
WW> a short while and when it starts, the TIKI will move but then return to
WW> "normal," whatever that may be in a few minutes. So, if you were using a
WW> longer timeframe for Data2 perhaps you have a reason why? The TIKI is for
WW> day trader timing only, in my opinion. Even then, there are other things
WW> that can make the TIKI move other than program trading, which is why it is
WW> imperfect. But program trading will move it.
WW> Sincerely,
WW> Wes
>> -----Original Message-----
>> From: Bill Wynne [mailto:tradewynne@xxxxxxxxxxx]
>> Sent: Thursday, February 21, 2002 1:00 PM
>> To: softexcl@xxxxxxx; mr_bond@xxxxxxxxx; ebonugli@xxxxxxxx;
>> omega-list@xxxxxxxxxx
>> Cc: rfurse@xxxxxxxxxxxx
>> Subject: RE: OddBall as a market timing tool
>>
>>
>> {S&P data1, TICKI data2}
>>
>> Inputs: RL(14);
>> If rsi(Close Data2, RL) > rsi(Close[1] Data2, RL) Then Buy;
>> If rsi(Close Data2, RL) < rsi(Close[1] Data2, RL) Then Sell;
>>
>> Here you go, check how "robust" it is for yourself.....sorry,
>> I just can't help it some times. :-)
>>
>> BW
>>
>> Disclaimer: DON'T USE THIS SYSTEM! As far as I can tell it loses
>> money across all time frames and parameter sets.
>>
>>
>> >From: "Wes Williams" <softexcl@xxxxxxx>
>> >Reply-To: <softexcl@xxxxxxx>
>> >To: "Bill Wynne" <tradewynne@xxxxxxxxxxx>, <mr_bond@xxxxxxxxx>,
>> ><softexcl@xxxxxxx>, <ebonugli@xxxxxxxx>, <omega-list@xxxxxxxxxx>
>> >CC: <rfurse@xxxxxxxxxxxx>
>> >Subject: RE: OddBall as a market timing tool
>> >Date: Thu, 21 Feb 2002 12:16:18 -0700
>> >
>> >I agree with David's assessment on the TIKI as it stands, but do
>> this: Run
>> >an RSI against it and use that as your indicator rather than the
>> TIKI per
>> >se
>> >(you won't read that in the books). It is still imperfect but I had a
>> >friend
>> >who used it to verify the trade he was about to take. If the RSI on the
>> >TIKI
>> >was strongly pointing the other direction, he wouldn't take the
>> trade until
>> >more information came in.
>> >
>> >Jim Johnson cited the Larry McMillan book I read on the TIKI. I wouldn't
>> >recommend the book for just the chapter on the TIKI unless you can get it
>> >from the library or borrow it.
>> >
>> >Sincerely,
>> >Wes
>> >
>> > >
>> > >
>> > > David:
>> > >
>> > > My take is the ticki is generally too noisy, while in
>> > > strong trends it may not get to some arbitrary point
>> > > (say -20) and you miss the move. But hey, if someone
>> > > has a ticki system that beats the basic OB, or whatever,
>> > > please post the results.
>> > >
>> > > Perhaps my comment "a complete waste of time" is too
>> > > harsh, but I think there are better places to look.
>> > >
>> > > BW
>> > >
>> > >
>> > > >From: "David Folster" <mr_bond@xxxxxxxxx>
>> > > >To: "Bill Wynne" <tradewynne@xxxxxxxxxxx>, <softexcl@xxxxxxx>,
>> > > ><ebonugli@xxxxxxxx>, <omega-list@xxxxxxxxxx>
>> > > >CC: <rfurse@xxxxxxxxxxxx>
>> > > >Subject: Re: OddBall as a market timing tool
>> > > >Date: Thu, 21 Feb 2002 10:28:01 -0800
>> > > >
>> > > >Bill,
>> > > >
>> > > >I found TIKI had some value as a daytrading technique if you
>> > > used it as an
>> > > >oversold measure in a rising market and vice versa for a falling
>> >market.
>> > > >i.e. If 5 minute SP > than 25 period MA and tiki = -20 or less, buy.
>> > > >Didn't
>> > > >define an exit technique but one possibility would be exit when
>> > > you have a
>> > > >profit and the majority of a 5 minute tiki bar is < 0. Possibly
>> > > adding my
>> > > >OB DB as a filter for longs/shorts would work better.
>> > > >
>> > > >Any comments?
>> > > >
>> > > >David
>> > > >
>> > > > > Raschke, Conners, Schwartz all talk about tick and tiki
>> >methodologies
>> > > > > in recent books..... (IMHO a complete waste of time...the tiki
>> >systems
>> > > >that
>> > > > > is). Ned Davis and many others have been doing breadth (i.e.
>> > > > > A/D) research for decades.
--
Best regards,
Jim mailto:jejohn@xxxxxxxxxxxxxxxx
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