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DislikedHi Evaluator
Thanks for you reply..I will as you say trade this on a demo for a while and I think this is what all those people who are worried about repainting should do before commenting...
I am sure thats why you wanted to share this so we can try it out and then post some results as a friendly group. We all have a choice try it or leave it..
I think it will be interesting if people try it out this week and post their charts both successful and unsuccessful trades and compare results..
Look forward to this weeks trading
Happy trading...Ignored
DislikedOk.....here you go
Edit: I should add that these settings seem to be fine for M5 and M15 charts, but a lower Period value would be needed if you were to go to H1 (or larger) charts.Ignored
DislikedHi Evaluator,
Thanks kindly for your reply in post #198.
May be I need to elaborate a bit further as may be you missed my point being raised:
You state in post #182
"Entry Points Strategy
The entry and exit strategy is simple. For placing an order one would wait until you have an extreme spike and the other 3 indicators show the same colour in the direction of the extreme spike. This is shown in the graph as position (A). To exit your order you let the market price action run its path until ,on the closing candlestick, there is an opposite...Ignored
DislikedBazuka77,
Great follow-up and thanks much for the clarification. There are two types of spikes in the cycle identifier ones that are just spikes (no colour) which are turning points within a price action movement. (similar in Elliott Wave this would be points 2, 3, and 4 in a 5 wave Elliott wave) and then there are the extremes which are the spikes with colour that indicate the end of a movement.
The extreme spikes (spikes with color) are the points I am talking about in the exit strategy. These extreme spikes are where in Strategy 1 you would...Ignored
QuoteDislikedI look forward to seeing your results and comments
I look forward to it... I normaly trade off the weekly,daily and 4 hour charts,but will give this ago....
I will not be able to catch most trades as I own and run a retail company but I am lucky to have a multi screen set up in my office and am able to watch the markets most times, but the trades I do catch good or bad I will post up on here.
DislikedWhat bazzuka77 is trying to say is that all non-extreme spikes were extreme spikes were they first appeared on the chart. With that in mind you would have exited the trade way earlier than the 7th spike.Ignored
DislikedEval...
As you can see from my chart below, I have far more spikes than you do for the same period. If you remember, early on in the thread someone had the same issue, and I don't think it got resolved. You posted your settings at that time, and my settings match yours, so don't know what the problem is. Any ideas??
And thanks again for the method, I'm looking forward to begin trading with it tomorrow and will try to post some charts.
Thanks Eval!
AttachmentIgnored
DislikedWhat bazzuka77 is trying to say is that all non-extreme spikes were extreme spikes were they first appeared on the chart. With that in mind you would have exited the trade way earlier than the 7th spike.Ignored
DislikedWell, the thing is an "extreme" spike can become a "normal" spike after a repaint. What should we do ? Stay or exit directly when we saw a color in the spike ? Or maybe wait the candle to close ?Ignored