Earlier today the 14 length %K Stochastic fell slightly below
20%, but just slightly. I didn't notice at the time as I've
been responding to pms and blog questions etc and was unable to
send it out as an email. Because this is a 60 min version,
it's honestly best for you to check this stuff on your own, and in
fact I may stop emailing the 60 min version and only email the
daily signals. However remember with my previous statistics,
the trade can either be taken intra day when the %K crosses back
above 20% or at the close of the day.
I've attached a 60 min GDX chart, a daily Renko chart, as well
as the updated states.
As you know most times, the 60 min Stochastic provides a better
entry than the daily version, except this last instance: the daily
went long at 55.23 while the 60 min timing version wouldn't have
went long until 56.33.
I think there is a chance it could dip below 20% again if the
market pulls back, which would provide a better entry. We'll
see I guess. GDX is lagging relative to gold today.
Posted by jlevinthal on 31st of Jan 2012 at 06:12 pm
My 60 min slow Stochastic on tradestation looks different. Yours
has %K(14)%D(1). The tradestation has
(high,low,close,14,3,3,1,20,80). How can I get them to look the
same. ... Thank
jlevinthal - 14,3,3,1 is the proper setting on Tradestation but
it will not always be exact since Tradestation and stockcharts will
publish different prices at times especially in the building of
some bars. It will tend to be slight but I often find them
0.20 or more off from each other in the stoch. That is one
reason we use stockcharts for many of these settings, we love TS
and other more robust intraday platforms but there are certain
things that stockcharts seems to do better. NOW, because TS
is more robust I think there are certain tricks you can do that I
will use like have TS alert you when the stock starts getting close
to the Overbought/Oversold area so then you know to start watching
the stockcharts version etc. but we would still use the stockcharts
version as the one to gauge entries and exits.
jlevinthal - Yes as Tom stated, TS and Stockcharts.com seem to have
different prices at times for GDX and thus you will never get them
to match exactly. Also be sure that you are not showing after
hrs data on GDX in your Tradestation chart, if you have your
session settings set to show after hrs data that will make a huge
difference as well.
Honestly I would prefer to use the 60 min charts from
Tradestation, however I have to use Stockcharts because we are
using the daily GDX Renko from Stockcharts.com for the daily system
and that chart cannot be reproduced in Tradestation because their
Renko charts are different, therefore to keep everything the same
I'm using Stockckcharts for the 60 min setting.
dw1mstr - good question, I'm uncertain about this, I could also
see a potential H&S on the 60 or 15 min and today's little
bounce looks like a small bear flag. Not my favorite look
just for disclosure, I am long from lower prices from the daily
renko system already. It's just at this point from a non
system view, I'm not in love with the 60 min chart
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GDX Renko system comments
Posted by matt on 31st of Jan 2012 at 03:44 pm
Earlier today the 14 length %K Stochastic fell slightly below 20%, but just slightly. I didn't notice at the time as I've been responding to pms and blog questions etc and was unable to send it out as an email. Because this is a 60 min version, it's honestly best for you to check this stuff on your own, and in fact I may stop emailing the 60 min version and only email the daily signals. However remember with my previous statistics, the trade can either be taken intra day when the %K crosses back above 20% or at the close of the day.
I've attached a 60 min GDX chart, a daily Renko chart, as well as the updated states.
As you know most times, the 60 min Stochastic provides a better entry than the daily version, except this last instance: the daily went long at 55.23 while the 60 min timing version wouldn't have went long until 56.33.
I think there is a chance it could dip below 20% again if the market pulls back, which would provide a better entry. We'll see I guess. GDX is lagging relative to gold today.
Slow Stochastic on tradestation
Posted by jlevinthal on 31st of Jan 2012 at 06:12 pm
My 60 min slow Stochastic on tradestation looks different. Yours has %K(14)%D(1). The tradestation has (high,low,close,14,3,3,1,20,80). How can I get them to look the same. ... Thank
jlevinthal - 14,3,3,1 is the
Posted by tom on 1st of Feb 2012 at 08:41 am
jlevinthal - 14,3,3,1 is the proper setting on Tradestation but it will not always be exact since Tradestation and stockcharts will publish different prices at times especially in the building of some bars. It will tend to be slight but I often find them 0.20 or more off from each other in the stoch. That is one reason we use stockcharts for many of these settings, we love TS and other more robust intraday platforms but there are certain things that stockcharts seems to do better. NOW, because TS is more robust I think there are certain tricks you can do that I will use like have TS alert you when the stock starts getting close to the Overbought/Oversold area so then you know to start watching the stockcharts version etc. but we would still use the stockcharts version as the one to gauge entries and exits.
jlevinthal - Yes as Tom
Posted by matt on 1st of Feb 2012 at 09:45 am
jlevinthal - Yes as Tom stated, TS and Stockcharts.com seem to have different prices at times for GDX and thus you will never get them to match exactly. Also be sure that you are not showing after hrs data on GDX in your Tradestation chart, if you have your session settings set to show after hrs data that will make a huge difference as well.
Honestly I would prefer to use the 60 min charts from Tradestation, however I have to use Stockcharts because we are using the daily GDX Renko from Stockcharts.com for the daily system and that chart cannot be reproduced in Tradestation because their Renko charts are different, therefore to keep everything the same I'm using Stockckcharts for the 60 min setting.
try 14, 3, 1, 1
Posted by kellyvu on 1st of Feb 2012 at 08:16 am
try 14, 3, 1, 1
Hi Matt,
Posted by dw1mstr on 31st of Jan 2012 at 03:49 pm
Outside of the system, would you consider this a good entry from a technical standpoint?
dw1mstr - good question, I'm
Posted by matt on 31st of Jan 2012 at 03:55 pm
dw1mstr - good question, I'm uncertain about this, I could also see a potential H&S on the 60 or 15 min and today's little bounce looks like a small bear flag. Not my favorite look
Thanks.
Posted by dw1mstr on 31st of Jan 2012 at 03:56 pm
Thanks.
just for disclosure, I am
Posted by matt on 31st of Jan 2012 at 03:57 pm
just for disclosure, I am long from lower prices from the daily renko system already. It's just at this point from a non system view, I'm not in love with the 60 min chart