One thing that stands out vs the daily and weekly: The daily
obviously gets in earlier but also has more noise where it stops
out and has to get back in, sometimes at higher prices. The weekly
avoids chop/noise much better than the daily and greatly reduces
the number of trades but you give better entries and exits.
Basically the daily has nice entries and exits but more noise, the
weekly has much less noise but not as good entries and
exits.
Therefore one thing I'm interested in trying is a time frame in
the middle. For example making a 2 day chart or a 3 day chart where
each bar represents 2 days or 3 days. That would be right in the
middle of the daily and weekly and may be a nice middle ground
where it would have less noise than the daily but better entries
and exits over the weekly. So this is something I'm very interested
to investigate. that said, I can't make 2 day or 3 day charts in
Tradestation, so it's not possible in TS. However I think you can
do this in Multicharts, which also shares a good 95% to 98% the
same code as Tradestation and thus would be quick to do. I'll have
my programmer look into that this week and will let you know the
results if we are able to do that.
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One thing that stands out
Weekly KISS charts
Posted by matt on 8th of Nov 2020 at 01:52 pm
One thing that stands out vs the daily and weekly: The daily obviously gets in earlier but also has more noise where it stops out and has to get back in, sometimes at higher prices. The weekly avoids chop/noise much better than the daily and greatly reduces the number of trades but you give better entries and exits. Basically the daily has nice entries and exits but more noise, the weekly has much less noise but not as good entries and exits.
Therefore one thing I'm interested in trying is a time frame in the middle. For example making a 2 day chart or a 3 day chart where each bar represents 2 days or 3 days. That would be right in the middle of the daily and weekly and may be a nice middle ground where it would have less noise than the daily but better entries and exits over the weekly. So this is something I'm very interested to investigate. that said, I can't make 2 day or 3 day charts in Tradestation, so it's not possible in TS. However I think you can do this in Multicharts, which also shares a good 95% to 98% the same code as Tradestation and thus would be quick to do. I'll have my programmer look into that this week and will let you know the results if we are able to do that.