Wave59 Technologies

Hi All,

Version 2.26 is about to get released, and I thought it would be a good idea to make a quick video about some of the new order placement tools there, since some of them (especially the trendline tools) won't be immediately obvious. You can download the movie from the webinar archives, or directly by clicking here: http://www.wave59.com/Resources/webinars/20170203.zip.

Thanks,

Earik

Hi Earik,

Great enhancement to an already great software. By far the best in the market. Keep going.

Regards

nagib

Have to agree with W59 being nonpareil, and of course it's always a happy day when a new version comes out.

Earik: trendlines are a valuable part of my toolkit, but in my practice they generate buy/sell signals when touched or only slightly exceeded within an existing trend, or, most importantly, during the initiation of a trend. I'm sure others have found similar approaches. Is it possible a later version could incorporate this approach, too?

Todd

Hi Todd,

Sure, a trendline-if-touched option would definitely be a possibility. That will require checking the TL every tick, but that logic is pretty much already built. Let me add it to the list. (You are welcome to remind me frequently. That can help, especially these days when I'm completely distracted by other things like the fund... )

Regards,

Earik

Earik,

OK, sounds good.

One more thing -- while watching the intro video on the new order placement tools, I noticed an icon on the toolbar array that is not on mine. It's under the Geometry group, on the bottom, right underneath the squares tool. It appears to be some sort of fan. What is that?

Todd

abacaba wrote:Have to agree with W59 being nonpareil, and of course it's always a happy day when a new version comes out.

Earik: trendlines are a valuable part of my toolkit, but in my practice they generate buy/sell signals when touched or only slightly exceeded within an existing trend, or, most importantly, during the initiation of a trend. I'm sure others have found similar approaches. Is it possible a later version could incorporate this approach, too?

Todd

Hi Todd

Since it is so easy to place the trendline wherever you want it to be, why wouldn't you just place it so that price needs to penetrate to trigger a trade? For example, if you find that TLs are getting missed by a small margin, why not just reposition them a smidge so they get hit/penetrated?
What am I not understanding here?
Cheers

Hi Todd,

One more thing -- while watching the intro video on the new order placement tools, I noticed an icon on the toolbar array that is not on mine. It's under the Geometry group, on the bottom, right underneath the squares tool. It appears to be some sort of fan. What is that?

That's Barrie's "Angle Harmonics" tool that came with his 5-point pattern workshop.

Regards,

Earik

Hi Earik,

Right, of course -- now that I think about it I remember seeing that icon in the Drawing Popup menu a while back, asked the same thing then...

Hi Gezza,

I suppose I could do that, but I like to use precise trendlines that align with certain expansion/contraction ratios. Kind of like Gann lines, but different numbers. A hit will be exact, to the tick. In my book, it's either that or noise. So to lay other TLs down would be getting a bit messy.
I suppose in practice the specification of an "exact" hit would need to be a little fuzzy just to allow for, say, fractions of a tick that arise from the rise/run calculation.

Todd

Thanks Todd.
I'm very impressed. I haven't come across anyone that works with trendlines that get hit to the tick with any degree of consistency!
I'm a fan of market geometry and would be interested is seeing any pictures you can share.
Cheers
Gezza

Thanks, Gezza. Occasionally, one and only one tick above/below, but for ES that's it. What can I say, I'm a Virgo, predisposed to order and clarity...

Today I got to thinking how one might implement your suggestion, at least what I think you may have been suggesting, and came up with this:
This is from yesterday's market. The red trendline is drawn by the user, and the extensions are created using the parallel drawing tool. This is a robust technique that I and I'm sure many others have used many times, but it seems very well suited for the currently constituted trendline break entry method offered by 2.26. The entry is on a break of the aqua line. I've shown two alternatives for the 9-10 a.m. timeframe, one that uses an internal trendline (chosen for better R/W because of range) and another that begins from a more obvious low. The ability to do this now with W59 is nice...very nice.

Todd