AIMS Entry Alert V6.0 Beta [Obsolete]

[snorm]

Very well said boet. Immy and I have had pretty much the same discussion, whilst getting breach-of-copyright posts removed from forums, eBay and file-sharing sites.

It really hit home with me, when I started seeing my efforts sold/given away outside of the AIMS forum. I've never been into Shareaza etc and it astonishes me that so many think it's perfectly acceptable to download music, movies, software etc for free, completely ignorant of the blatant theft and denying due reward to the creators. Who would be happy about doing a month at work only to see someone else claim their pay packet?

The mind has a way of rewarding self, to the degree of good that comes from one's actions.

[humpha]

Steve,
There are many highlights to this great forum including learning from great traders and there techniques. Your endless work behind the scenes creating the priceless tools of our trade brings it all together. Many thanks you are a true champion.

Tony

[evilmeatball]

hey all, the indi is looking nice today. also don't worry about other people reselling your things karma will take care of that you guys are doing something great here so no worries (hug)

snorm: as for the update, i wanted an option for the indicator to only show a smileface if created inside an existing aims box. that way one could possibly remove the wave indicator from the setup and save some space. and i for one would also want more space because the more i can see yea

[snorm]

Thank you for all the kind words - much appreciated. I'll have to meditate on the eveilmeatball request

I just want to give a bit of background to the Alert 6, to help explain why I've developed it the way I have. It's always a bit sad when we see some people struggling with the AIMS System and Bill Williams trading methodologies. Some people come and go; some have asked Immy for refunds because they couldn't be consistently profitable; some persevere with true grit yet struggle to bag those pips on a regular basis. So ... I asked Immy a while back: "What's your favourite setup? The one that has the highest probability of winning? The one that the new members would have the most success with?"
"That's easy", he replied, "Setup 1- Alligator awake on M5 and just awakening on M1"

And so, Alert V6 was born. A relatively simple bit of coding to check if Alligator is awake on the higher time frame and just awake on the current. I took it one step further with the smilies - what if it's just awake on M5 as well? Effectively a possible Setup 1 on the next time frame, without having to refer to that chart. And then, one step further still, a confirmed Setup 1 on M5 with M15 (or M30 or M60) awake - referencing three charts but only looking at one.

The arrows and smilies are intended to get you into a big move as soon as possible, providing opportunities to later add-on and build a sizeable trade. Of course, chaos being chaos, they don't always give winning trades but they should, when selectively traded with the other rules in mind, help to increase the ratio of profitable trades. Price might initially go in the wrong direction of the arrow and smiley, yet often come back and fly in the right direction. I'd suggest noting the price levels of the alerts and see what happens when those levels break.

I would like to invite all the Beta Testers to share their findings, when trading with, what the indi calls, the S1 alerts (you can select just to show the S1 alerts in the options, if you wish). All feedback welcome and if there's something that I can add to the coding, to further increase profitability and remove the guess work, I will try to do so. I can't add wave count checks from eWaves at this stage though, that would make for far too complex an indicator.

In due course I may add a Setup2 alert, if there is any value.

A couple of observations about V6 - there is still the little refresh issue, as discussed in previous releases. I am looking at this in the complete re-write but in the meantime, you might find a signal was given which later disappears on refresh. Likewise a smiley may sometimes not show in live, but shows on refresh. It's all down to the signal-test - getting it as early as possible even though it might be invalidated at the close of the bar. No negative trades should result from this, if you stick to the rules.

I don't want to overcomplicate the indicators for people, we'd ultimately like fewer and more reliable signals. The goal is to remove the subjectivity and, of course, increase the profitability, for all the great members of this forum.

Best I get back to some coding ... :-B

[Grant]

Morning Guru,

nice explanaion.....

If i may can i just add this......

for those that have downloaded the flow chart and use it for entries, in the first box, replace dot with arrow so it reads "is there an arrow". thats all i have done, now i just need some more time to trade.... lol

thanks again Steve, now go and enjoy your bank holiday...

Grant

[snorm]

hey all, the indi is looking nice today. also don't worry about other people reselling your things karma will take care of that you guys are doing something great here so no worries (hug)

snorm: as for the update, i wanted an option for the indicator to only show a smileface if created inside an existing aims box. that way one could possibly remove the wave indicator from the setup and save some space. and i for one would also want more space because the more i can see yea

After some meditation on your request (well, actually it was a good dose of nicotine, cough, and some caffeine), Alexander ...
I think you are looking for testing of something that is mutually exclusive. AIMS Box, AIMS Waves (or eWaves) and Alligator serve different purposes. In my humble opinion, and I think the opinion shared by all the AIMSters, the eWaves is one of the most important indicators - it tells you so much about the bigger picture and provides a basis for projecting where price will go, where it will change direction and where it is in the larger move. The AIMS Box gives the immediate support and resistance levels.The Alligator tells you when price is trending or ranging and provides floating support and resistance. The alert looks for price action around the Alligator - when to buy the dips and sell the rallies. The AIMS Box and eWaves aren't related on the current time frame.

I don't think I can program what you're looking for - I'd never ever want to lose eWaves from the chart. It's the best thing since Triumph started making motorbikes again.

[snorm]

Morning Guru,

nice explanaion.....

If i may can i just add this......

for those that have downloaded the flow chart and use it for entries, in the first box, replace dot with arrow so it reads "is there an arrow". thats all i have done, now i just need some more time to trade.... lol

thanks again Steve, now go and enjoy your bank holiday...

Grant

Thanks Grant the trading guru - good one (wd)

[evilmeatball]

aha snorm now i see. well i guess some explaining on my part is due aswell.. i use macd on my charts and fractals to. although now i have removed the fractals since i just magically see them anyway. so now that i mention that i already have a "histogram unbound force" indicator on my screens i hope that you understand why i didn't feel as much need for the wave indi there. don't get me wrong though i do like it a lot. it is a very nice force filter

all in all thought a very excellent job on it! (wd)

ot: on the motorcycles well .. no i am more for ducati

[snorm]

I like MACD but the AO Histogram is essentially MACD - no harm in having them both but less is more of course, which is what you were trying to allude to. I'd go for eWaves over MACD any day, if for no other reason than the ability to see the wave count at a glance. I don't know of any other indicator (in original AO form or my eWave form) that makes Elliot Wave counting such a breeze.

Ducati? Nice bikes but I'd rather buy something that's made up the road from me ... B-) I can see a new section in the forum coming

[Den]

Just slipping in here to say a big thanks to you Snorm its a pity you couldnt code a booby trap for the 'indicator thieves' something like it opens a market order in opposite direction and then disables mt4 so account is decimated. 8-}

Well done for your hard work and dedication to all of us and of course yourself.

Dennis