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Getting practical for a moment about multiple timeframes.....
Take for granted familiarity with the concepts of "tide", "wave", "ripple"
as described by Elder, et al, even if one disagrees about the indicators to
be used for them....
Also, take for granted Earl's point below, which it took me awhile to
get....
.....What are the various ways that folks have found it useful to POSITION
the various timeframe bars and associated indicators on the screen.
I've tried:
- ripple bars at the top, wave bars in the middle, and tide bars at the
bottom within a single TS workspace chart. Indicators were positioned just
below the bars. (This was before I got the point Earl makes below.) This
doesn't work very well because there isn't enough horizontal space for the
larger timeframe bars to set context.
- Most recently I've been putting a single timeframe within a TS chart
within a single workspace. This is better but harder to follow. And I'm
only looking at a single symbol.
- I've thought about the need for multiple monitors. This would help
alot. But then I'd have to think again about symbol/indicator timeframe bar
positioning.
What do you think?.....
Steven Buss
Walnut Creek, CA
sbuss@xxxxxxxxxxx
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, November 11, 1998 6:02 PM
Subject: Re: Multiple Time Frame Question
>If you run a 1 minute chart with 10 period ma, and then throw on a 50 pma
>and a 300 pma you're still looking at a microcosm of data. I don't care how
>long and hard you look at it, you will never get the larger picture which
>you will see looking at a 5 min chart with 10 pma and a 30 min chart with
10
>pma. If you trade daily, you should be looking at weekly and monthly charts
>to get the larger picture.
>
>Earl
>
>-----Original Message-----
>From: Philip Schmitz <pschmi02@xxxxxxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Wednesday, November 11, 1998 4:20 PM
>Subject: Re: Multiple Time Frame Question
>
>
>>Don't understand, Ira. Since Elder has been
>>mentioned as an advocate of multiple time frames,
>>what's the difference between Elder's use of an
>>EMA(13) for his first, long term "market tide"
>>screen, and Goslin's 10-week moving average as a
>>long-term indicator.
>>
>>> This doesn't qualify as multiple time frames. It
>>> is multiple moving
>>> averages.
>>
>>This is where I'm not getting it. How do you
>>define the time frames? Could you shed some light
>>on this? I thought if I set the data to "weekly"
>>and dropped a 10-period moving average on it I
>>would have an indication of a trend in a weekly
>>time frame.
>>
>>> the other favorite for longer term traders is MA
>>> of 10H, 8L,3C. Cover shorts as 3C crosses 8L go
>>> long when 3C crosses 10H. Reverse for the down
>>> side. I am not a MA advocate, but if that is
>>> your thing, here is something to occupy your
>>> time.
>>
>>No, mistaken though I may be, my interest lies in
>>the "multiple time frame question. From what I
>>recall, Goslin is not about moving averages
>>crossing. Thanks, though.
>>
>>Philip
>>
>>
>>> Ira.
>>>
>>> Philip Schmitz wrote:
>>>
>>> > Not to mention Chick Goslin's Intelligent
>>> Futures
>>> > Trading (thank you Steve Karnish for the tip).
>>>
>>> > Goslin uses a "Direction Line" (long term
>>> > indicator: 10-week moving average); a "Timing
>>>
>>> > Line" (short term indicator: MA(2) or (3) or
>>> (4)
>>> > minus MA(9) or (10) or (11)); and finally a
>>> > "Confirming Line" (intermediate term
>>> indicator:
>>> > an MA(13) of the "Timing Line".)
>>> >
>>> > This is one of those topics, I think, where it
>>>
>>> > would be REALLY HELPFUL if some of the
>>> experienced
>>> > traders out there would step up to the plate.
>>> >
>>> > Hello?
>>
>>
>>
>
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