The new Iscalper trading system

[rondonelli]

Admis

is there a strategy in educated files?. Their web site kind of imply that but I am not sure if they have one

[admis]

Admis

is there a strategy in educated files?. Their web site kind of imply that but I am not sure if they have one

 

There is no strategy in the package.

[profile]

Question on the iSc@lper indicator : I do not seem to be able to plot more than 7 days if colored bars and signals and bands..

How can I have more than 7 days of colored bars and signals and bands plotted by the iScalper?

Reason for the question: With Strategy Wizard I want to built a simple strtegy to see how well/bad the iScalper works with my preference settings. Once it looks good I then can try to run a playback.

 

I found that the core of the iScaler actually derives from the Metatrader platform. There has been a publication on Volatility Quality by Thomas Stridsman in 2002 on Technical Analysis of Stocks and Commodities magazine. Someone then made the indicator for Metatrader called vq.mq4. Some parts of that code are more or less copied in the iScalper (I do not believe in that level of coincidence). I have not been able to find any Ninja version of this indicator.

I am not able to understand how the signal is triggered, but someone on the internet mentioned that the Moving Average of multiple timeframes should all point to the same direction - but I can not confirm this as I can not read the code. Another source mentions that it is about the ATR on multiple timeframes.

 

I was not able to find the original publication source of Thomas Fridsman. Someone has access to the archives of Technical Analysis of Stocks and Commodities magazine?

[⭐ JDizzle22]

Question on the iSc@lper indicator : I do not seem to be able to plot more than 7 days if colored bars and signals and bands..

How can I have more than 7 days of colored bars and signals and bands plotted by the iScalper?

Reason for the question: With Strategy Wizard I want to built a simple strtegy to see how well/bad the iScalper works with my preference settings. Once it looks good I then can try to run a playback.

 

I found that the core of the iScaler actually derives from the Metatrader platform. There has been a publication on Volatility Quality by Thomas Stridsman in 2002 on Technical Analysis of Stocks and Commodities magazine. Someone then made the indicator for Metatrader called vq.mq4. Some parts of that code are more or less copied in the iScalper (I do not believe in that level of coincidence). I have not been able to find any Ninja version of this indicator.

I am not able to understand how the signal is triggered, but someone on the internet mentioned that the Moving Average of multiple timeframes should all point to the same direction - but I can not confirm this as I can not read the code. Another source mentions that it is about the ATR on multiple timeframes.

 

I was not able to find the original publication source of Thomas Fridsman. Someone has access to the archives of Technical Analysis of Stocks and Commodities magazine?

 

I did their trial of the indicator and if you read this thread, you should better understand what MA they are using (TMA): http://www.forexfactory.com/showthread.php?p=5474168. The TMA repaints, but if you plot the LWMA, it won't. To get the upper and lower bands on the TMA or LWMA, you take the TMA/LWMA + ATR(TMA/LWMA,period)*Multiplier and TMA/LWMAATR - (TMA/LWMA,period)*Multiplier--this ATR type adjustment is used often in many indicators. From comparing TMA and LWMA to the Scalper, it does not appear to be a MTF indicator. As for the changing of colors, I do not know, but would assume they are taking the slope over X bars and coloring it, so that X bars are colored--since everything repaints, I don't think it will backtest very well in Ninja.

[profile]

jdizzle22, You are very right that backtesting is an issue (at least for me). The bands repaint in location.. That is not an issue as I can drop a dot to the chart at each bar so I can see in the past were the bands were located. But the coloring of the bands change as well and they are important. It is this coloring that I can not replicate in the backtesting.

I find the system very good in real time manual trading. But making it a strategy is a different story. I am very limited in knowledge here.

How did you experience your test drive? Will you use the system in the future? What was good or not?

[⭐ JDizzle22]

jdizzle22, You are very right that backtesting is an issue (at least for me). The bands repaint in location.. That is not an issue as I can drop a dot to the chart at each bar so I can see in the past were the bands were located. But the coloring of the bands change as well and they are important. It is this coloring that I can not replicate in the backtesting.

I find the system very good in real time manual trading. But making it a strategy is a different story. I am very limited in knowledge here.

How did you experience your test drive? Will you use the system in the future? What was good or not?

 

I won't use it--I removed it shortly after the trial started, so this next bit I did not compare to their stuff, but should be pretty close once you compare settings and such (it may be a little different if they modified the TMA formula). I converted TMA Bands as described here (http://www.wisestocktrader.com/indicators/3320-tma-bands) to Ninja. I also added a "slope" lookback which will let you determine how far back you want to go to determine slope. There is also a slopetrend, which is set to 0. If slope is > slopetrend then it will paint the middle line green, if slope < slopetrend then paint red. See how it works out for you. https://www.sendspace.com/file/33k6ph

[rondonelli]

I read this thread and see that there is lot of negativity about this guy and his web site looks gimmicky and lot of forum members are skeptical. But on my end I have traded iscalper now three days in a row on live account and to my surprise it proved just fine. I was attracted to this system because of simplicity, clean look and biggest selling point was small stop loss.

 

These three days I traded were real contracted days cause of usa holidays so if this works in these days then it should be ok in moving days. I am using it in mini russell futures with bar settings of 9, 1, 15%, stoploss at 14 ticks and profit target is 11 ticks and taking only two trades in a trend, usually first two trades of the day meet my daily profit target of 22 ticks. I know it is too early to call this a trading system you can rely on as your daily driver and longer backtesting is required but it merits a another look.

 

I am sure this system can be created by simple indicators as suggested by admis and previous poster has already made tmabands which already crashed my ninja twice but jist of the system is to trade with clearly recognizable trend, small profit loss and set profit target.

 

I also noticed that there is some repainting issue going on but is not worse than jaysignal. This involves bands but not actual trade setup.

 

My purpose for this post is to further discuss this system and see what other members think. screenshot posted for today

 

http://s30.postimg.org/kc3pi6lap/TF_12_14_9_i_Renko_11_28_2014.jpg' alt='TF_12_14_9_i_Renko_11_28_2014.jpg'> image sharing sites[/img]

[CashManic]

Good work rondo and excellent initiative.:-bd

[rondonelli]

Here is another idea I am working on. It involves same concept of angled moving avg or band defining prevalent trend but different indicator set. I have not live traded this. I invite other members to braisnstorm it find flaws and refine it further. I have marked today's trades. It needs following indicators.

 

bwprecisionrenko bars (settings of 8 and 300%)

bwprecision trend (settings of 2 volatility stop)

tmabands (mine not crashed today)

 

I have not decided on stoploss or profit targets Here is the screenshot

 

http://s24.postimg.org/uvd48ct3p/TF_12_14_BWTPrecision_Renko_8_Ticks_300_11.jpg' alt='TF_12_14_BWTPrecision_Renko_8_Ticks_300_11.jpg'> upload pictures free[/img]

Edited November 28, 2014 by rondonelli

[rondonelli]

Two more trades in iscalper in downtrend. Not shabby. I have not traded these as my daily profit target was hot earlier.

http://s1.postimg.org/9m37fxeen/TF_12_14_9_i_Renko_11_28_2014.jpg' alt='TF_12_14_9_i_Renko_11_28_2014.jpg'> upload pictures online[/img]

[CashManic]

Hello guys N gals,

For those interested, here is a recent web call by Scott Morris, owner of IndicatorIncubator. He gives lots of insider insights on the workings of iScalper, like the best entries to take, the geometric patterns(pivots) that can inform you on taking the right signals that can make double the big money on single car contracts, how the Buy/Sell signals are determined,etc. Quite informative.

 

 

Cheers,

Edited November 28, 2014 by CashManic

[yamantaka]

Cash, any idea when the new release is coming?

[yamantaka]

Two more trades in iscalper in downtrend. Not shabby. I have not traded these as my daily profit target was hot earlier.

http://s1.postimg.org/9m37fxeen/TF_12_14_9_i_Renko_11_28_2014.jpg' alt='TF_12_14_9_i_Renko_11_28_2014.jpg'> upload pictures online[/img]

 

Can you show us where you entered these trades and what type of order you used?. Perhaps, in the future you can use Text and Marker?

 

Also, these charts do show solid trends in place with pulbacks, which is the ideal trading situation. Have you tested it in tighter range days? Can you make the tick target before the loss hits?

[mastertrader7]

..................... Edited November 29, 2014 by mastertrader7
error

[yamantaka]

Anyone have the training videos that include basic settings and recommended time frames?

[profile]

Yamantaka, see video posted by CashManic. 90% of the video is marketing (aspirine works well) and 10% tells some more about settings and how to use intro.

 

Rondonelli,

Regarding your suggestion to refine the method. I think this is not something to be done so quick. First the current method should be evaluated to the limit. The original idea of the method is to keep it simple. as said in the video: just one glimpse on the (read: any) chart should tell you if there is an entry or not.

The problems I have currently with the method - and this is my opinion:

- the signal is a black box for me as I can see the code, but I can not read it. But ok, for the time being a blackbox is ok. If I am to use this method live then I need at that stage to have someone explain me how the signal is working.

- the bands repaint all the time in position and color. So any screenshot showing something of the past shows you the bands in location and color as they most likely have not been when you decided for the entry in realtime if there is an entry or not. The band is a WMA, so I can plot dots with each bar. That leaves me a trail so I can see in my charts how the bands were in the past. But I am not able to plot the dot with the color as it appears in realtime.

As the color is important for making the entry decision, it would be nice to be able to plot the dot with the color as it was when the bar closed.

Anyone any suggestion how this can be done?

 

What I noticed so far: First of all: I trade the markets by predefining my entries and targets using price action of the bars and a mixture of Market Profile, footprint, Volume nodes, Fibs (just the 61.8, 127, 168), supply and demand. So using an indicator with a signal telling me to do something..........well, I am very suspicious if that works. But with this method I must admit that the results are very good - in the current market.

So backtesting would be very beneficial to make a better opinion.

 

That brings me to the question: has someone been able to run a backtest with market replay? If yes, then how do you find out about the color (not the slope) of the bands? Or is there for 100% certainty a relationship between the color and slope? Again: I can see the code, but I can not read the code so I am not sure how the color is generated in the method at time of bar close.

 

Targets: Do not look to the promotion videos for targets as the bands keep switching in location in the very recent history. So when you enter the trade e.g. long, then the upperband may be 7 ticks away from your entry. Price may even hit the upper band before the market suddenly accelerates and price jumps up, then the bands get new location and price is suddenly under the uppperband again and when price eventually hits the upperband when the long rally stalled, then you can show a chart with the bands showing a huge amount of ticks before price hits the upperband. Indeed, it looks better than the holy grail but to be honest: price hit the bands way before. Nevertheless, if you trade realistic this method shows good results.

[rondonelli]

Yamantka

I did not trade 2nd screenshot, I mentioned that in that post, but for the first screenshot I entered on two buys exactly where buy dots are using limit order. Market was in holiday mood so it was bit slow so got it in but I am sure when market picks up there will be some slippage as happens with all sort ofrenko bars. I do not trade with ninja so no markers. I will be using ninja for trading beginning January.

[yamantaka]

Yamantaka, see video posted by CashManic. 90% of the video is marketing (aspirine works well) and 10% tells some more about settings and how to use intro.

 

Rondonelli,

Regarding your suggestion to refine the method. I think this is not something to be done so quick. First the current method should be evaluated to the limit. The original idea of the method is to keep it simple. as said in the video: just one glimpse on the (read: any) chart should tell you if there is an entry or not.

The problems I have currently with the method - and this is my opinion:

- the signal is a black box for me as I can see the code, but I can not read it. But ok, for the time being a blackbox is ok. If I am to use this method live then I need at that stage to have someone explain me how the signal is working.

- the bands repaint all the time in position and color. So any screenshot showing something of the past shows you the bands in location and color as they most likely have not been when you decided for the entry in realtime if there is an entry or not. The band is a WMA, so I can plot dots with each bar. That leaves me a trail so I can see in my charts how the bands were in the past. But I am not able to plot the dot with the color as it appears in realtime.

As the color is important for making the entry decision, it would be nice to be able to plot the dot with the color as it was when the bar closed.

Anyone any suggestion how this can be done?

 

What I noticed so far: First of all: I trade the markets by predefining my entries and targets using price action of the bars and a mixture of Market Profile, footprint, Volume nodes, Fibs (just the 61.8, 127, 168), supply and demand. So using an indicator with a signal telling me to do something..........well, I am very suspicious if that works. But with this method I must admit that the results are very good - in the current market.

So backtesting would be very beneficial to make a better opinion.

 

That brings me to the question: has someone been able to run a backtest with market replay? If yes, then how do you find out about the color (not the slope) of the bands? Or is there for 100% certainty a relationship between the color and slope? Again: I can see the code, but I can not read the code so I am not sure how the color is generated in the method at time of bar close.

 

Targets: Do not look to the promotion videos for targets as the bands keep switching in location in the very recent history. So when you enter the trade e.g. long, then the upperband may be 7 ticks away from your entry. Price may even hit the upper band before the market suddenly accelerates and price jumps up, then the bands get new location and price is suddenly under the uppperband again and when price eventually hits the upperband when the long rally stalled, then you can show a chart with the bands showing a huge amount of ticks before price hits the upperband. Indeed, it looks better than the holy grail but to be honest: price hit the bands way before. Nevertheless, if you trade realistic this method shows good results.

Profile, when one orders a trial, they are sent videos and instrcutions on how to best use--those were the ones I was referring to, not the promo one by Cash.

[yamantaka]

Yamantaka, see video posted by CashManic. 90% of the video is marketing (aspirine works well) and 10% tells some more about settings and how to use intro.

 

Rondonelli,

Regarding your suggestion to refine the method. I think this is not something to be done so quick. First the current method should be evaluated to the limit. The original idea of the method is to keep it simple. as said in the video: just one glimpse on the (read: any) chart should tell you if there is an entry or not.

The problems I have currently with the method - and this is my opinion:

- the signal is a black box for me as I can see the code, but I can not read it. But ok, for the time being a blackbox is ok. If I am to use this method live then I need at that stage to have someone explain me how the signal is working.

- the bands repaint all the time in position and color. So any screenshot showing something of the past shows you the bands in location and color as they most likely have not been when you decided for the entry in realtime if there is an entry or not. The band is a WMA, so I can plot dots with each bar. That leaves me a trail so I can see in my charts how the bands were in the past. But I am not able to plot the dot with the color as it appears in realtime.

As the color is important for making the entry decision, it would be nice to be able to plot the dot with the color as it was when the bar closed.

Anyone any suggestion how this can be done?

 

What I noticed so far: First of all: I trade the markets by predefining my entries and targets using price action of the bars and a mixture of Market Profile, footprint, Volume nodes, Fibs (just the 61.8, 127, 168), supply and demand. So using an indicator with a signal telling me to do something..........well, I am very suspicious if that works. But with this method I must admit that the results are very good - in the current market.

So backtesting would be very beneficial to make a better opinion.

 

That brings me to the question: has someone been able to run a backtest with market replay? If yes, then how do you find out about the color (not the slope) of the bands? Or is there for 100% certainty a relationship between the color and slope? Again: I can see the code, but I can not read the code so I am not sure how the color is generated in the method at time of bar close.

 

Targets: Do not look to the promotion videos for targets as the bands keep switching in location in the very recent history. So when you enter the trade e.g. long, then the upperband may be 7 ticks away from your entry. Price may even hit the upper band before the market suddenly accelerates and price jumps up, then the bands get new location and price is suddenly under the uppperband again and when price eventually hits the upperband when the long rally stalled, then you can show a chart with the bands showing a huge amount of ticks before price hits the upperband. Indeed, it looks better than the holy grail but to be honest: price hit the bands way before. Nevertheless, if you trade realistic this method shows good results.

I heard the explanation of the bands changing color, and it's only critical to "look to the right edge" in realtime but there is something disturbing in this explanation. Therefore, don't even think about backtesting especially with iBars. It's worth taking a look with MarketReplay, however to see if those bands indeed confirmed a possible trade. Remember, you don't want to take a contra trend trade as defined by the band color.

[rondonelli]

Profile

I ran market replay from 9/17/14-9/19/14 ninja crashed therefore I abandoned it but few observations which I have seen past week as live

(1) Location of bands may move away from entry price if market moving in your direction so I dont know if you want to keep going in that direction or take a set profit target. I learned to take profit at predetermined level

(2) Band color may change from red or green to grey if market moves in opposite direction

(3) Trades taken in relatively flat market but favorable color tend to fail. Software changes color on even 1 degree angle, there got to be such angle which you can safely call up or down without thinking twice

(4) Trades which hit both bands were most successful

 

I wish if we had a band which can tell you about angle of its direction. One such moving avg but not band I found at

 

http://indo-investasi.com/showthread.php/25200-Indicators-Sharing-amp-Chart-Templates/page8?highlight=templates post #73

[⭐ JDizzle22]

Profile

I ran market replay from 9/17/14-9/19/14 ninja crashed therefore I abandoned it but few observations which I have seen past week as live

(1) Location of bands may move away from entry price if market moving in your direction so I dont know if you want to keep going in that direction or take a set profit target. I learned to take profit at predetermined level

(2) Band color may change from red or green to grey if market moves in opposite direction

(3) Trades taken in relatively flat market but favorable color tend to fail. Software changes color on even 1 degree angle, there got to be such angle which you can safely call up or down without thinking twice

(4) Trades which hit both bands were most successful

 

I wish if we had a band which can tell you about angle of its direction. One such moving avg but not band I found at

 

http://indo-investasi.com/showthread.php/25200-Indicators-Sharing-amp-Chart-Templates/page8?highlight=templates post #73

 

You don't need to do market replay with TMA bands, or any indicator that repaints. What you can do is this: 1) disconnect from your data (if data is running it will update the band), 2) scroll back in time to where you want to begin viewing the band, 3) refresh the chart, and 4)more forward in time and the bands will update as if you are running market replay.

 

As for the angle of its direction, ninjatrader lets you calculate slope(aka angle) (see the example I built into the TMA Bands with lookback and a filter (http://www.ninjatrader.com/support/helpGuides/nt7/index.html?slope.htm)), so you can determine the slope of any dataseries over any number of bars that you want. You can print this information to the output window, color the plots, or you can draw a static text on the chart. It doesn't matter if you calculate the Slope off the center MA or the bands--the bands are deviated from the center line offset by a certain amount so they will have the exact same slope. If the bands were not the same slope then the bands would get closer and further away from the center line when you look back in history.

 

TMA bands look back "infinite" instead of 256, so it is much more resource intensive than other indicators--if you have a slower computer with less memory, or have dll's that are not installed properly, it can cause havoc on your system with indicators that look back indefinitely, especially if you load a lot of data on your chart (load only as much data as you absolutely need).

 

edit: forgot negative in code: if you have tmabands, on line 72 add "-" in front of slopetrend. Added pic, see orange is flat: http://tinypic.com/r/65zj8o/8

Edited November 30, 2014 by JDizzle22
Update TMABands

[rondonelli]

Jdizzle22

Thanks for your explanation, can you add necessary code into your tmbands indicator to output its angle into a square box in user configurable place on the chart?.

[CashManic]

Anyone have the training videos that include basic settings and recommended time frames?

 

Yes Taka-san, coming up now.;)

[CashManic]

Well it has finally happened.They wanted this to be a MAJOR upgrade and to take into consideration all the feedback from the Trial users.The reason I like Christopher is because he is a bit of a perfectonist and demands results and all this has rubbed off on Scott Morris now so he is not the "old" Scott Morris.He is way better now and very committed to his trading systems and customers.They insisted that this upgrade be THE iSCALPER they designed it to be and I must admit the changes have been substantial.

Here then is the webinar they had just before they released the new iSCALPER.It was released a day or two later than scheduled because the programming team wanted it to be up to the high standards of Chris.Please listen and watch carefully and with intent because Chris will explain all the fundamental and significant changes that has been coded into the new iSCALPER.

 

 

https://www.youtube.com/watch?v=UgFCrtv8tlc#t=1074

 

http://i60.tinypic.com/rtfgbd.jpg

 

 

And here is the new upgrade of iSCALPER

Our beloved batman admis you have our utmost thanks and gratitude!:x

https://www.sendspace.com/file/akj11m

 

Cheers,:)

Cash.

Edited November 30, 2014 by CashManic

[admis]

...

 

And here is the new upgrade of iSCALPER and the new updated/upgraded iRENKO renko bartype.

It is hoped that our beloved Batman can do the honours with our utmost thanks and gratitude.Cheers,:)

Cash.

 

You know I like you. Enjoy it! iScalper:

https://www.sendspace.com/file/akj11m

 

iRenko was not changed.

Edited November 30, 2014 by admis