What is this new decision pt WPT?

[dctommy]

Steve:

I keep reading about the new "decision point" WPT...what is it and where
do you explain it in your documentation? :confused:


dctommy

[martinrcox]

Steve:

I keep reading about the new "decision point" WPT...what is it and where
do you explain it in your documentation? :confused:


dctommy


Hi Tommy,

If you get Steve's daily report and look up the one dated 27th October you will see that he did a special master class on the wave (1 or A) decision point wpt.

I hope that this helps

[Steve Griffiths]

Hi Guys,

I will also be doing some help tutorials on it once I can get it working off a "single click" in eSignal and TS8 (hopefully),

I will have more info available later this month.

Steve

[Steve Griffiths]

Hi Guys,

Please see below for a great example on the 15min ES....

This is why I want to include this as an additional advanced technique for users.

Not many other software companies provide this many additional tools for FREE :)

Steve

[dctommy]

Hi Tommy,

If you get Steve's daily report and look up the one dated 27th October you will see that he did a special master class on the wave (1 or A) decision point wpt.

I hope that this helps


Martin:

Yes the oct 27 report does help to explain it. Thanks ;)


dctommy

[CapTech]

Steve:

I keep reading about the new "decision point" WPT...what is it and where
do you explain it in your documentation? :confused:


dctommy


The wave 1orA is not new and it has been very well documented. Steve did a very well done monthly seminar on it's use in the EOD product which applies simularly in Esignal. So given it a new name like "Decision Point" maybe a selling point. Here is the link for the Oct 2005 seminar ---> http://www.mtpredictor.com/members/Oct-Sem2005.html ........Jim

[Steve Griffiths]

Hi Guys,

The way I am now using this WPT is slightly different from the Wave 1orA WPT. The way the Wave 1orA WPT was taught was to find the "initial support/resistance" using the "last swing" into an important high or low.

With this new decision point I have extended its use to any prior swing, as I have found that support/resistance occurs at this level in far more circumstances that originally designed.

Hence I am making a new decision point WPT (DPT - decision point target) which will only require one click - much easier for users............ should have news on when this will be ready in the next few days.....

But as you say, the use of the existing Wave 1orA WPT is well documented and help videos are already available ....

Thanks

Steve

[Steve Griffiths]

Hi Everybody,

New "single click " decision point target (DPT) is now completed and just testing here in house........

Looking good so far though, nailing todays low in the AB :)

Steve

[Steve Griffiths]

Hi Guys,

Yep, that did indeed turn out to be the low of the day on the AB !!!

Looks like this new DPT (decision point target) routine is working well :)

Steve

[dctommy]

Hi Guys,

Yep, that did indeed turn out to be the low of the day on the AB !!!

Looks like this new DPT (decision point target) routine is working well :)

Steve

Steve:

Will you implement the new DPT for end of day? :confused:


dctommy

[Steve Griffiths]

Yep, in the new v6.0 :)

Steve

[qitrader]

Hi,

Here is what I think the requirements for the new Wave 1 DP are:

1) a prior swing high/low (Support/Resistance from prior day or days)
2) a prior WPT level
3) blue/red reversal bar

Let me know if I am correct in this assumption

thanks

tony

[Steve Griffiths]

Hi Tony,

As I said in my daily report, I will be putting together some help files for this next week........

Thanks

Steve

[dimpleshah65]

i would like to thank steve for the dp because i found tata motors on it giving deverge at the top and i went to short that and made money .

[dctommy]

Steve:

I have been observing your daily reports and comments on the new DP.

If you use the divergence feature of STF to confirm entry, then you will
be forced to wait a few bars before pulling the trigger, as it takes a few
bars to create STF divergence. Is this a correct observation?

dctommy :rolleyes:

[Steve Griffiths]

Hi dctommy,

what ?, I have NEVER said that.......... please see the Nov Seminar videos in the members section of the website. Here I show how we use the colored reversal bars (as always) for trade entry...........

Steve

[dctommy]

Hi dctommy,

what ?, I have NEVER said that.......... please see the Nov Seminar videos in the members section of the website. Here I show how we use the colored reversal bars (as always) for trade entry...........

Steve


Now I'm really confused :confused: , See the attached shot from Nov 14 report:

dctommy

[dctommy]

Steve:

When will the EOD users receive the new decision point setup &
training videos? :confused:


dctommy

[Matt Bowen]

I'm not picking on DCTommy here, but this very same questions about divergence has been coming up again and again... and Tom's question addresses this issue:

If you use the divergence feature of STF to confirm entry, then you will be forced to wait a few bars before pulling the trigger, as it takes a few
bars to create STF divergence. Is this a correct observation?

Simple answer... No!

Steve Notis explains why:

There are some indicators, patterns and systems which don't lend themselves easily to computer testing but nevertheless make intuitive, rational, sense and can be tested manually instead. However, it's tedious but worthwhile.)

Theoretically, a computer can be programmed to codify and execute any combination of expert rules so long as a human can first describe these rules in a clear and consistant manner. However, at the present there are still limitations within even the best trading system software products. At some point in the future, I fully expect that much of this software gap will be filled, but for the time being there are still a few things that a computer cannot do, and that means there will still be discretionay monitoring by the end user.

This is by no means a license to second guess every signal given by a system, but it does meanthat a signal might be considered suspect if certain other conditions exist which "you know about" but the computer has no way of recognizing.

There is currently no program on the market place that can effectively:
SPOT or identify divergence and MEASURE the divergence pattern between a price graph and a indicator based on that price. Divergences, which usually involve double or triple tops or bottoms, are easy to spot visually, but for a computer , divergences are a nightmere because they're almost impossible to describe in mathematical terms.

[Biggo]

There is currently no program on the market place that can effectively:
SPOT or identify divergence and MEASURE the divergence pattern between a price graph and a indicator based on that price. Divergences, which usually involve double or triple tops or bottoms, are easy to spot visually, but for a computer , divergences are a nightmere because they're almost impossible to describe in mathematical terms.

Hi Matt

I also use Ensign Sofware alongside MTP & it has the capability to plot Regular & hidden Divergence on the CCI.
It is not 100% but can be a usefull aid.
Chart attached

Purple = Regular Divergence

White = Hidden Divergence

Cheers Biggo

[Matt Bowen]

Hi Biggo,

Thanks for the e-mail... Yes, I had actually bought the Divergence Library from Chris Kryza (It's probably the best divergence programming I've seen to date) and it does a good job... is it perfect (close, but still not there), the human brain still works the best.

http://www.sr-analyst.com/i/Divergences5.gif

The Divergences Library (dsDivergences) allows you to integrate divergence-checking into your own custom indicators, trading systems, etc. The package includes the dsDivergences.efsLib library along with three example scripts that demonstrate the proper usage of the library. Note: To use this library, you must have at least some familiarity with the EFS programming language and the ability to write your own scripts

[mitch]

Yep, in the new v6.0 :)

Steve

Hi Steve. Do you have an update on the progress of the release of EODv6? viz. as an EOD user I'm keen to know when when we can expect to see/access new DP functionality?

cheers, mitch

[Steve Griffiths]

Hi Mitch,

Still too early for a release date, as I know more I will let you all know, but needless the say the programmer is working flat out on this for you.........

Steve

[mitch]

Thanks Steve. I'm sure it will be well worth the wait.
Cheers, Mitch

[Delta]

hey
Q1_about DP is it right to pick any pivot points tops or bottoms or there is a criteria to these pivot points because if we select any pivot points so we will have a lot of DPs??????

Q2- if a trade setup will be made in aria contain DP and WPTs so the desition will made using which of them ????? see attachment

Q3_ if we in a trade ( TS3 for example) and we find a DP before we reach the target point what we will do ??? see attachment
thnx

[Steve Griffiths]

Hi Delta,

Are you a current MTPredictor customer ? If so then please email support@MTPredictor.net and our support staff will be able to help you.

If you are not a MTP users, then I would suggest you consider purchasing the software. as this Furom is for MTPredictor users to discuss trades, not for us to teach non users what to do for free ........

Thanks

Steve

[Delta]

ok thnx alot