OmniTrader Archives
OmniTrader 2007 Technical Support
Holy Grail indicator?
86 replies, 12683 viewings
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OmniTrader Archives
OmniTrader 2007 Technical Support
Holy Grail indicator?
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Last Activity 1/8/2019 12:48 PM 86 replies, 12683 viewings |
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Deepak Member  Posts: 31 Joined: 2/10/2007 Location: San Diego, CA  User Profile |
I would be very interested in the code for that. Thanks, | ||
| Bill Graves Veteran  Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
Here are the trading rules if anyone wants to code it: 1. Identify a new high in existing strong trend with ADX(14) > 30 & rising 2. Identify retracement toward 20 EMA - may be accompanied by turndown in ADX value 3. When price touches 20 EMA, place buy stop above high of previous bar 4. Place protective sell stop below low of recent swing low (below 20 EMA) 5. Close position at or near most recent swing high. (If trend is strong in a higher timeframe, exit 1/2 position and let other half ride. Tighten stop. 6. If stopped out after entry, re-enter trade with a new buy stop at the original entry price. Reverse rules for short trade. This is one of my favorite day trading set ups. I trade it almost daily but have to do it manually. I use a 22 EMA but enter trade a few ticks before price reaches the 22 EMA. I am not recommending a change in trading rules, it's just that I use the 22 EMA for other setups including support & resistance and don't want to clutter up my charts more than necessary. The grail trade can be used in any time frame. Cheers, | ||
| Deepak Member Posts: 31 Joined: 2/10/2007 Location: San Diego, CA User Profile |
That's great it can be used on any time frame! | ||
| Bill Graves Veteran Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
My first entry was stopped out for a very small loss. Re-entered per above trading rules, exited 1/2 just before retest of previous high and the rest of the positon 2 ticks below R-1 Pivot. After I got out, the ER kept going right through the R-1 pivot before retracing... This trade is a consistant winner ~ thus its name. -:) Worthwhile coding if anyone is up to it. I would do it if I had the programming ability. Cheers,  Attached file : Grail_20070521.png (27KB - 1045 downloads) | ||
| Deepak Member Posts: 31 Joined: 2/10/2007 Location: San Diego, CA User Profile |
I will have to find someone who knows how to program this into OT since I would like to use it for swing trading/trend trading stocks. Thanks, Deepak | ||
| Bill Graves Veteran Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
Here is today's Grail Trade Cheers, Attached file : Grail_20070523.png (30KB - 1118 downloads) | ||
| Bill Graves Veteran Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
Here's a second successful Grail Trade for today. This one is on the short side but on the 5 min time frame. The earlier one was on the 2 minute chart. I won't bore you any more with these trades. -:) I just wanted to let everyone know how plentiful and consistant these trades are! Cheers to all, Attached file : Grail_20070523-2.png (23KB - 817 downloads) | ||
| Deepak Member Posts: 31 Joined: 2/10/2007 Location: San Diego, CA User Profile |
I love seeing these charts and would appreciate seeing more of them! I learn so much from them! - Deepak | ||
| Deepak Member Posts: 31 Joined: 2/10/2007 Location: San Diego, CA User Profile |
Do you have any examples of the Holy Grail being applied to stocks? I would really appreciate any examples you have since I swing trade stocks. Thanks, Deepak | ||
| Bill Graves Veteran Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
Ok, here you go: here's an EOD in progress that fired off a few days ago. The attached chart is posted with a 20 EMA per Linda Raschke's trading rules. It was doing fine until today. -:) It has not yet stopped out, so it could still be successful depending where one wants to put his stop. Keep in mind that I do not have any scan or system to find these, so I had to poke around for a while to locate it. Hopefully support will hold here and meet the target of the previous swing high around 18.75. If I looked more, I could probably find a better example. This is the first one I came across. -:) Hope this is what you were looking for. Cheers, Attached file : Grail_20070524-EOD.png (24KB - 945 downloads) | ||
| EYEGUY Icon   Posts: 1543 Joined: 12/12/2003 Location: BALDWINSVILLE, NEW YORK User Profile |
Thanks for the info. Is it forbidden to know exactly what stock we are viewing here? No ticker appears anywhere I can see. Tom Helget | ||
| Bill Graves Veteran Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
So sorry. I did a "window capture" not realizing that that part of the necessary screen was being omitted! The symbol is JDAS I have attached another partial screen shot which I have captured remotely. That's why the color is a little different. Thanks for pointing this out!!! Cheers, Attached file : Grail_20070524.png (34KB - 774 downloads) | ||
| EYEGUY Icon Posts: 1543 Joined: 12/12/2003 Location: BALDWINSVILLE, NEW YORK User Profile |
Thanks, for a moment I thought we were truly on the search for the Holy Grail. I even felt a bit like Lancelot (but am not nearly as handsome). :) Tom Helget | ||
| Deepak Member Posts: 31 Joined: 2/10/2007 Location: San Diego, CA User Profile |
I loved the stock example! It really helps to see the chart in action. If you happen to see any others, it would be great to see them! - Deepak | ||
| Kris Veteran Posts: 102 Joined: 5/23/2004 Location: Johannesburg User Profile |
Attached is a simple system that will fire Long signal when the market runs up, briefly dips below EMA(8) and closes above it (shorts are reversed). To get Linda Raschke settings change the EMA(8) parameter to EMA(20). To complete the strategy I would place " ADX(14) > 30 " in the Filter (block). Cheers, Kris Attached file : RetraceSys.txt (1KB - 1130 downloads) Attached file : Grail.ots (568KB - 1011 downloads) | ||
| RichardL Veteran Posts: 134 Joined: 9/18/2004 User Profile |
Richard | ||
| Deepak Member Posts: 31 Joined: 2/10/2007 Location: San Diego, CA User Profile |
- Deepak | ||
| Maciej Veteran Posts: 297 Joined: 12/19/2003 Location: Paris User Profile |
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| dandaman69 Member Posts: 11 Joined: 11/20/2006 Location: Dublin, Ireland User Profile |
Dan, Dublin. | ||
| Paddy_VA Veteran Posts: 298 Joined: 12/13/2003 Location: Virginia User Profile |
So, I downloaded grail.ots again, put it in the Strategies folder, ran OT, clicked on Grail in the Strategies tab, and did the analysis. Did not get an error this time, and Grail shows in the bottom Strategies window, but no votes. So, I ran Grail alone, and there are no votes for any of my focus list., most of which have some kind of signal under other strategies. Unlike Dan's experience, I can open Grail to edit it. What am I missing? [Edited by Paddy_VA on 5/29/2007 2:04 PM] | ||
| RichardL Veteran Posts: 134 Joined: 9/18/2004 User Profile |
assuming you've got OT Pro, you need to download the RetraceSys.txt file to your VBA/systems directory. Use notepad.exe to open the .txt file and remove any spurious white spaces at the end that are introduced by the Forum software. Compile it and then download the grail.ots strategy to the OT Strategies folder. It will now have the strategy & system recognised. If you don't have OT Pro you won't be able to compile & run Kris' code. Richard [Edited by RichardL on 5/29/2007 3:17 PM] | ||
| Paddy_VA Veteran Posts: 298 Joined: 12/13/2003 Location: Virginia User Profile |
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| RichardL Veteran Posts: 134 Joined: 9/18/2004 User Profile |
all the best Richard | ||
| dandaman69 Member Posts: 11 Joined: 11/20/2006 Location: Dublin, Ireland User Profile |
Dan, Dublin. | ||
| Bill Graves Veteran Posts: 125 Joined: 11/25/2006 Location: Phoenix, Arizona User Profile |
As you will notice in the very first post of this thread, this trade belongs to Linda Raschke, one of the "New Market Wizzards". It would be hard to find a better endorsement. The trading rules and complete system description can be found in Linda's book Street Smarts. Yes, it is highly profitable. I traded three of these patterns today in the ER: 2 in the 2 min chart and 1 in the 5 min chart. Results ~ 3 out of 3. Cheers, |
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