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OmniTrader 2014 Technical Support
How to use Multiple Timeframes
Last Activity 10/7/2017 1:07 AM
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Want to Learn

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Subject : How to use Multiple Timeframes
Posted : 3/3/2017 12:40 PM
Post #40811

Can anyone point me to where I can learn how to use multiple timeframes ( month, week) to confirm Daily Strategy Votes Signals
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Barry Cohen

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Subject : RE: How to use Multiple Timeframes
Posted : 3/3/2017 1:41 PM
Post #40812 - In reply to #40811

I'm not sure if we have any tutorials specific to that. We may, but I can't find any at the moment.

It shouldn't be difficult though. You can use a Confirm block set to another timeframe. So you have your profile globally set to Daily while you have another timeframe voting, like Weekly. Weekly then is referenced as Current+1. If you want an example of this, look at the "Reversal (Stocks) DWC" strategy & how it's set up. It looks at the Current+1 timeframe, which is basically weekly as long as you're viewing Daily, & passes signals if it meets it's criteria, in that case if there's an existing same direction Dchannel signal.

If the Profile has the Daily, Weekly, & Monthly timeframes & you're viewing Daily, the Monthly is referenced as Current+2 since it's 2 timeframes higher than the one you're viewing.

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Jim Dean

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Subject : RE: How to use Multiple Timeframes
Posted : 3/3/2017 1:57 PM
Post #40813 - In reply to #40812

I can't recall what the plugin is (sorry!), but I think that fairly recently (last 6-9 months), N released a tool that uses multiple timeframe analysis. WIth that plugin, as I recall, Jeff Drake did some video training which did a nice job of illustrating how higher timeframe confirmation was implemented in the Filter Block for that plugin's strategies.

Barry ... if you know which tool I'm thinking of, maybe you can direct him to it
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Barry Cohen

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Subject : RE: How to use Multiple Timeframes
Posted : 3/3/2017 2:12 PM
Post #40814 - In reply to #40813

Thanks Jim, maybe you're thinking of the FibTrader Premier IEF strategy from the Fibonacci Trader plugin with it's seminar video here. It's not very detailed there though, but it does go over needing to have enough data in the timeframe you're confirming with.
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Jim Dean

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Subject : RE: How to use Multiple Timeframes
Posted : 3/3/2017 2:42 PM
Post #40815 - In reply to #40811

Thanks ... that was it.

And, "want2learn" ... the secret to doing this is in the Filter Block and/or the Confirmation Block in Strategy Builder. There is plenty of information about those two blocks in the User Help file and probably in the standard Tutorial videos.

Best pointer I can give you ... do NOT use the "forming bar" option ... and the "dynamic" option really slows things down so I recommend the "previous bar" option.
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EYEGUY

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Subject : RE: How to use Multiple Timeframes
Posted : 3/3/2017 3:23 PM
Post #40816 - In reply to #40815

Barry and Jim:

Actually the Weekly Optimization Principle was originally discussed by Ed Downs in the accompanying webinars to the OmniTrader 2011 release. In it he discusses the use of Forming, Dynamic and Previous Bars.

I have the video on my computer but it is too large to download here.

Perhaps Barry might be able to discover a link to the original.

Here is a link I found to a more lengthy webinar (look around 19 minutes in):

https://videos.nirvanasystems.com/OT2011webinar/

Tom Helget

[Edited by EYEGUY on 3/3/2017 3:31 PM]

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Vinay

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Subject : RE: How to use Multiple Timeframes
Posted : 3/6/2017 7:45 AM
Post #40818 - In reply to #40811

If you "Want to Learn" in depth about MTC and the different ways you can implement it with OT then you will need to acquire at least one of the following courses:

1. "Multiple Time-frame Confirmation Tactics" by Jeremy Williams. It is a very detailed course which was done at OT University few years back.

2. "Trading to Win with OmniTrader 2010". This course which includes several other topics like EZ View, Setups etc. It also has a full CD dedicated to MTC and was presented by Ed Downs.

I think both of them are good but the second one you might get much cheaper and will give you more bang for the buck.



[Edited by Vinay on 3/6/2017 7:46 AM]

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