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This is an indicator of price action that I duplicated from Jeff Copper's Book
Hit and Run Trading. It was originally used on daily bars to identify day trade
set ups for the next day. I posted all the ShowMe's as an ela some time ago.
Here it is again. There are some other rules that go with each set up that I put
into a system that gives the orders for the next day. It has been impossible to
code exits as some signals only yield a 1/16 point. I also wrote the stop
losses into the code based on the rules in Coopers Book. I'll send the system
privately as its large, and is not a true system, but a set of signals. I
originally put all the ShowMes on one chart and saved it as a template, that I
used for scans across a hit list of stocks. Each signal has entry rules that are
outlined in Jeff's book. And yes we used them day trading stocks, the hard part
is choosing a basket of stocks to use them on. Jeff recommends stocks over
50.00, with adx > 30, or IBD's Relative Strength > 95 (Longs Only), and < 30 for
the first time for shorts. We used the S&P 100 as well.
____________________Reply Separator____________________
Subject: Indicator 180'sLong/180's Short
Author: owner-realtraders@xxxxxxxxxxxxxx
Date: 10/19/98 1:42 PM
For those of you who requested additional information regarding this
"indicator", I would suggest contacting the developer, Sentinel Trading at:
rjbiii@xxxxxxxxxx Or maybe he will see your request on this forum and
offer the information to all RTers. He obviously is more able to comment on
the indicator than I.
I, however, am using it in conjunction with several other indicators,
and when all agree to either an uptrend or downtrend, and the 180's
appears and signifies the same direction, I go with it. Am now
experimenting with different time periods (ticks, 1 min, 3 min. 5 min. etc.)
to ascertain the most advantageous results.
Good luck,
John
jdfo@xxxxxxxxx
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