Request: Bill Williams Awesome Oscillator & Accelerator Oscillator

[mlejda]

Hi Josh,

I guess I must have it too. Have full Office 2007.
Strange..
Thanks anyway.

Jan

[mahlonhersh]

Plot of Awesome Oscillator

I have been experimenting with the AO and AC by Bill Williams. As I understand, the plots should be current bar green if greater than previous bar; current bar red if less than previous bar.

I have found the AC to work this way. The AO works that way most of the time, sometimes. It seems to randomly change colors. I have tried several different downloads that I have found at various places on this forum. They all seem to work the same way for me.

Has anyone else experienced this? Am I missing something?

Thanks,

Mahlon

[ladytrader]

Awesome Oscillator

Hi Mahlon,

I have found that if I set "Calculate on Bar Close" to "True", it works just fine.

Diane

[mahlonhersh]

Diane,

Thanks for the quick reply. I followed your suggestion and now it all seems good.

Do you find the family of chaos tools useful for you? Has it been a profitable strategy for you? I like what I am seeing so far.

Thanks for your help,

Mahlon

[ladytrader]

Bill Williams

Hello Mahlon,

I really like Bill Williams's indicators. They are pretty much all I'm using. I find his system very simple with few entries and exits.

At this time, I am recording the data during the day and I "papertrade" using the replay mode at night. This is as close as I can get to trading live without any money at risk while I am learning.

The part I find more challenging is figuring out how to stay out when the market is in correction mode and the gator is sleeping. I tend to lose money during those times.

Good trading!

Diane

[mahlonhersh]

Diane,

Avoiding whipsaw when you're in a trading range is always a challenge. I will make 2 "early" observations.

1. It looks like if you use the buy fractal to trigger a long and a sell fractal to go short, you avoid a lot of whipsaw.

2. It also looks like it's pretty safe to enter a trade once the 3 alligator lines are no longer intertwined.

Have fun!

Mahlon

[kronie]

Hello Mahlon,

I really like Bill Williams's indicators. They are pretty much all I'm using. I find his system very simple with few entries and exits.

At this time, I am recording the data during the day and I "papertrade" using the replay mode at night. This is as close as I can get to trading live without any money at risk while I am learning.

The part I find more challenging is figuring out how to stay out when the market is in correction mode and the gator is sleeping. I tend to lose money during those times.

Good trading!

Diane

just a few questions,

1) where can I get a better understanding how to use the aligator and bill w's stuff?, most are saying that's all they use and its so easy

2) how are you recording data during the day and then testing at night?, I really need to repeat this process as I am not having success and find myself too exhausted to do practice runs the next day, while not being able to record new data, as well as being too tired on the weekend to retest anything recorded from earlier in the week, so this would really be interesting

thanks in advance,

private message me as an alternate response method

[mahlonhersh]

Here is a link to a pretty decent overview of Bill Williams' Chaos Theory method:

http://www.alpari-idc.com/en/market-analysis-guide/chaos-theory/chaos-theory.html

[markp77]

Hey Ladykiller,

I'm in the same boat as you, currently just papertrading to get some experience and currently using the Bill Williams method. Earlier today I placed an order to buy at the top of a fractal. Well, at the time the order triggered, the AC and AO were both heading down, and I got out 36 pips down. So I'm guessing that its not the best idea to buy if the other signals are sell, and the other way around. I don't have much experience though, so disregard this me if you want. Happy Trading

[nelson]

Bill Williams, Where Are You ?

Longing To Use Your Beautiful AC Indicator On NT

Tell Me How

[NinjaTrader_JoshP]

nelson,

Please search the File Sharing section for these 3rd party indicators.

[ladytrader]

Hello Mark,

At least you did not lose any money! It has been hard for me to accept that losing trades are part of trading. I call those my teachers. The more mistakes I can make while I have no money on the line and the faster I can learn to trade. I may have $0 on the line. I still don't like losing virtual dollars!

What is helping me is to figure out where I will exit my trade if the market doesn't behave as I have anticipated. If the risk is too high, I pass. I am more likely to take a trade if my risk is $150 than if it is $1000. I want to trade in a way to protect my attitude. When that's gone, I'm in big trouble!

Diane

[vickisb]

The link to the file sharing section or Awesome Oscillator don't work for me, even when signed in.

[vickisb]

Bill Williams Alligator strategy

Is anyone successfully using this strategy on Ninja Trader? If so, would you please be willing to help me get the indicators downloaded and explain your exact strategy and whether there's any judgment call involved in following the signals?

[jjwint]

Hi . . . I just saw your question. I hope someone else has answered you. If not . . . I'll give it a try.

The first thing to tell you is that you need to read both TRADING CHAOS and NEW TRADING DIMENSIONS. by Bill Williams. All questions will be answered. Whether someone is successfully using it on NINJA shouldn't mater to you. The question is can you learn the method and use it? Does it fit your personality?

Second . . . I have not traded Bill Williams' approach on NINJA . . . but I have traded the concepts he based his work on, successfully, on ADVANCED GET end-of-day, back in the late 90s, early 00s.

The founder of ADVANCED GET (Tom Joseph) believed in using a pair of SMAs (5 and 35) and then plotting the difference as an oscillator (histogram). He believed that the shape of the oscillator would help you identify a Wave 3, Wave 4 and Wave 5. Basically the oscillator pulls back to the zero line during a Wave 4, then continues in its previous direction, making a "divergence." This works very well AS LONG AS you have fairly clear Elliott Wave "impulse wave" of five legs.

Bill Williams took this basic idea, changed the setting to 5/34 :-) and called it the Awesome Oscillator. Cute, huh? He later added a five period SMA of the oscillator and turned it into a histogram called the AC (Acceleration/Deceleration).

You primarily use these tools to find divergences . . . BUT . . . divergences can be very tricky. For example, in a sustained down move you will see repeated bullish divergences and vice versa in an up move. You have to know how to read wave action so YES . . . IT'S VERY SUBJECTIVE. Doesn't sound like what you want.

He does describe other ways of using the two oscillators in his book. Essentially, it involves the same type of setup you would get from any price pullback against a pair of trending averages or a breakout when two averages cross.

In his second book (NEW TRADING DIMENSIONS) I think he may have switched his recreational drug of choice (just kidding) and came out with this mess of three moving averages called the "Alligator" which was to be used with fractals. He claimed that the moving averages were developed as a result of extensive testing . . . which I personally doubt. I think he just went Fibonacci crazy and pulled them out of you-know-where. Anyway, the basic idea is than when the three moving averages align up (or down), you enter on the BREAKOUT of a fractal. Again, see the book for exact details.

Many traders FADE FRACTALS. For example, they wait for an UP fractal to partially form. You'll see a High with two lower Highs to the left and one lower High to the right. That's the Alert. Then they wait for the next lower High to form and go short.

In my opinion, trading fractals is a lot less subjective than trying to find divergences using the Oscillators.

Trading fractals with the trend (be it the Alligators or any other combination . . . let's say the 34 EMA and 89 EMA) is usually more productive than trading against the trend.

In my personal opinion, Bill Williams overly complicates some very simple ideas. If you can boil down his two books into something useful for you, then great.

I'm not shilling for "Ray Freeman" and his record as a businessman is reprehensible . . . BUT . . . he offers a series of trade ideas you might like. See I AM A DAY TRADER on youtube. Another great place for a starting trader is found at Day Trading Radio.

When my kids are ready to trade that's what I will start them with.

Good luck,

John