Many have asked about IDS system that I use. IDS is a combo of indicators and is used foe Scalping or Trend Following. This post should have the function to copy the settings or load onto your chart. If not let me know or let me know how to enable.
Basic idea: IDS is a Range Bar chart at 27 bars. The Simple Lines indicators are set to combine IDS 20 with 27. When the White price bars are above simple lines, look Long and Buy/Add on Red bars near either simple line. The best Long will separate (above) All Lines. This will drop back to/near either simple line. This is when you Add on Red (as long as the bars stay above, place stop just under). Reverse for Shorts. The Stochastic above will help with legs or waves and can be used with the net pos/neg volume indicator. The yellow line is a Short indicator, do not short if you do not see the yellow line.
White Price Bar and lines is Long / Red Price Bar and Lines (plus yellow) is Short
Backtest back and get familiar with how to estimate dips, reversals, stalls and direction changes. When backtesting you will identify what I call "the sweet spot" of the run/trend. Use this with playing the Open Drive or the Top and Bottom of the 1st 30 minute levels each day and prior days. This has been reliable and price seems to test/retest 1st 30's prior to next move.
Basic idea: IDS is a Range Bar chart at 27 bars. The Simple Lines indicators are set to combine IDS 20 with 27. When the White price bars are above simple lines, look Long and Buy/Add on Red bars near either simple line. The best Long will separate (above) All Lines. This will drop back to/near either simple line. This is when you Add on Red (as long as the bars stay above, place stop just under). Reverse for Shorts. The Stochastic above will help with legs or waves and can be used with the net pos/neg volume indicator. The yellow line is a Short indicator, do not short if you do not see the yellow line.
White Price Bar and lines is Long / Red Price Bar and Lines (plus yellow) is Short
Backtest back and get familiar with how to estimate dips, reversals, stalls and direction changes. When backtesting you will identify what I call "the sweet spot" of the run/trend. Use this with playing the Open Drive or the Top and Bottom of the 1st 30 minute levels each day and prior days. This has been reliable and price seems to test/retest 1st 30's prior to next move.
Comment:
20 Range on Left / 50 RB Right, the 50 is more reliable but late signals.
Comment:
27 is left, not 20. 50 Change setting on Moving Average Cross Alert, Multi-Timeframe Option (MTF) (by ChartArt) (close, 30, 100, 75, 4)
Comment:
Like I have said, you can Scalp more points daily as compared to trying to catch a big wave/runner. IDS is useful for the active trader that is in the business of points accumulation in eIther direction.
The opportunities with/of, PB (pull back), RT (retracement), HF (head fakes):
50 (right) is above white SL (simple line) so this is long bias with PB to SL50 or 12,400. The 27 (left) is showing short, both are below the Yellow Short line. The focus is the white Vertical Line & yellow Horizontal 12,473. The lower white line is bottom of 1st 30M.
The day opened with drop/pop, stall - PB - (mid fall HF, white arrow) - bottom 1st 30M retest (white arrow, long signal). 50 is showing Strong Long above 12440 as Price Bar is white and above ALL LINES. 27 is giving SL Signal at 12428 and both have broken trough Yellow Short line at 12409. Notice how 12473 has a pop above and retest. Sweet Spot trade is from 12473 to Open High at 12542, you will notice the near retest of 12542 on 50 under Yellow Short signal. No Break of 12542 is ADD back to 12618 or extended Sweet Spot. Pay attention to 27 Stoch vs 50 Stoch for trade waves.
The opportunities with/of, PB (pull back), RT (retracement), HF (head fakes):
50 (right) is above white SL (simple line) so this is long bias with PB to SL50 or 12,400. The 27 (left) is showing short, both are below the Yellow Short line. The focus is the white Vertical Line & yellow Horizontal 12,473. The lower white line is bottom of 1st 30M.
The day opened with drop/pop, stall - PB - (mid fall HF, white arrow) - bottom 1st 30M retest (white arrow, long signal). 50 is showing Strong Long above 12440 as Price Bar is white and above ALL LINES. 27 is giving SL Signal at 12428 and both have broken trough Yellow Short line at 12409. Notice how 12473 has a pop above and retest. Sweet Spot trade is from 12473 to Open High at 12542, you will notice the near retest of 12542 on 50 under Yellow Short signal. No Break of 12542 is ADD back to 12618 or extended Sweet Spot. Pay attention to 27 Stoch vs 50 Stoch for trade waves.
Comment:
Compare the 30M Candle chart (time based) to the 50 Range Bar (price based), it is almost impossible to see the internal moves using the 30M. Use price based charts for months in order to develop pattern recognition reflexes with these types of moves. This will almost become 2nd nature and the hardest challenge is with how easily you see your original thoughts play out as you did not pull the trade. For those that actually trade, that last comment is well understood and actually the OPPORTUNITY. IDS can help those traders.
Comment:
If you view the 7/21 post you will see that I had good and bad calls. I was fighting my own system and missed some easy trades. The final trade did make up some missed points. These types of days will happen when you do not stay consistent with your method. It also shows that you will have multiple opportunities. This day forced me to go back to following my own system more closely. The following days did produce more consistent results. With that said, I still missed easy trades. The larger trades (5 contracts) were "sweet spot" trades and the points added up while still missing much of the moves that I was in going in the correct direction. Overall point accumulation has been net positive since. Good luck and let the trades play out. Use daily forecast with IDS and play Key Levels for targets and reversals.
Comment:
IDS alternative settings on both 27/50 Stochastic (100, 50, 25)
Regarding Yellow Short signal, when price is above on both, look Long. This current example shows the Long and retest price action.
Regarding Yellow Short signal, when price is above on both, look Long. This current example shows the Long and retest price action.
Comment:
8/5 Calls and examples: This day was interesting, the overall post was accurate and 3 additional intraday calls were accurate. View below and reference Post for actual calls. When using a non time based system the initial price action moves and follow through reactions become somewhat predictable.
Comment:
8/4 Call/Examples: This day was the prior chop to 8/5. The original Short call was correct and the 1st hour Short accurate.
Comment:
Both days provided 2 way opportunities for points. The speed of the intraday moves are actually slowed down when viewing non time based charts. The 2 way PA needs to be tracked for next move predictions (therefore needs to be seen), time based charts will not show these waves. This leads to target trading, you can predict targets when you can predict next moves. Read 8/5 comments of some followers that get caught in the some frustration towards my post's/calls. This will 100% happen in a chop market should you buy/hold or short/hold. The opportunities are there, you just need to see them (so you can predict them).