Disliked{quote} @skyway -- Okay -- so, I indulged myself. Is that such a crime?Ignored
I respect your enthusiasm to create new indicator/strategy or EA.
I'm not good at mathematics/code,but it's for your reference.
Thanks
4
Money management: Capital needed per 0.07 USD per microlot 0 replies
The Volume Detective 411 replies
Disliked{quote} @skyway -- Okay -- so, I indulged myself. Is that such a crime?Ignored
Disliked{quote} Hi,R4me I respect your enthusiasm to create new indicator/strategy or EA. I'm not good at mathematics/code,but it's for your reference. Thanks {image}Ignored
Disliked{quote} @skyway -- I've thought about it. I've come to the conclusion that Envelopes serve the purpose of creating the outer boundary or fence that when penetrated defines an extreme price. By the way, if you were using the latest version of SpikeHunter you'd see how well @Nih98's SweetSpot indicator works at picking out extreme prices -- just saying...Ignored
Disliked{quote} Simplistic view because you do not take into account the effect / influence of the Underlying Trend on Price Action ( see parisboy posts on the subject) Your conclusion is only valuable when Price Action goes sideways Moreover "Spikes" are relative not absolute, it depends of the Amplitude you give to your Envelope. And Spikes and Reversals are not of the same degree, order, you can not avoid classifying and hierachizing them {image} {image}Ignored
Disliked{quote} Simplistic view because you do not take into account the effect / influence of the Underlying Trend on Price Action ( see parisboy posts on the subject) Your conclusion is only valuable when Price Action goes sideways Moreover "Spikes" are relative not absolute, it depends of the Amplitude you give to your Envelope. And Spikes and Reversals are not of the same degree, order, you can not avoid classifying and hierachizing them {image} {image}Ignored
QuoteDislikedMoreover "Spikes" are relative not absolute
QuoteDislikedyou can not avoid classifying and hierachizing them
Disliked{quote} @parisboy -- okay. Then let's put your money where your mouth is. {quote} Of course I can avoid classifying. Show me where it says I must classify them (Spikes). Pardon the digression -- as a long time developer it is really, really, really important to complete a version #1. Version #1 doesn't have to be perfect. Software is intended to evolve with time -- especially something technical like this where one is constantly learning. If a developer keeps tinkering to make their application perfect it will never make it out the door....Ignored
Disliked{quote} Of course you Classifiy DE FACTO Spikes, Trends etc when you use different TimeFrames {image} {image} {image} {image}Ignored
QuoteDislikedOf course you Classifiy DE FACTO Spikes, Trends etc when you use different TimeFrames
Disliked{quote} @parisboy -- okay. Then let's put your money where your mouth is. I'll bet you one EURO that the NEXT version of SpikeHunter will place a blue or purple dot very close to where you would have opened a trade using your Envelopes + Underlying Trends + whatever else you wish to employ. Seriously, I wouldn't go so far as to say an underlying trend doesn't have an effect, but it's not a deal breaker. A reversal strategy may perform differently under different market conditions (i.e. different data patterns), but that would be expected,...Ignored
DislikedR4M Spike Hunter (R4M-SpikeHunterIndi.ex4) -- new version I've updated the SpikeHunter indicator. A new version is available in the other thread "Custom Indicators for TMA-ADR Reversal Trading and BBMA" (https://www.forexfactory.com/showthread.php?t=920925). All indicators are bundled in a *.zip file. {image} This version has some significant changes: 1. I've made the executive decision to go with the Centered TMA envelope. Though it repaints, I think the repainting will NOT have an adverse effect on its computations. When using an indicator...Ignored
Disliked{quote}Pardon the digression -- as a long time developer it is really, really, really important to complete a version #1. Version #1 doesn't have to be perfect. Software is intended to evolve with time -- especially something technical like this where one is constantly learning. If a developer keeps tinkering to make their application perfect it will never make it out the door. So, my intent is to prioritize and focus on Entries, filters and Exits so that I can create a v1. And then we can continually add refinements. But I need a v1.Ignored
Disliked{quote} {quote} @parisboy -- okay, then I guess I don't understand what you mean by classifying "de facto" spikes and trends. If you don't mind -- could you please educate this rookie. Can you classify a spike at the point it occurs -- i.e. at the bar where you have to decide whether or not to open a trade? Or do you classify spikes in hindsight? Also, we're not using different time frames, are we? I thought we were sticking to one -- like M15, M30 or H1?Ignored
DislikedApologies on not keeping up with the thread and what not had an accident over the weekend and was in the hospital a few days. Looks like I've got plenty of reading to get through since the thread has skyrocketed!Ignored
Long Exit
- Wait for the candle to close above the dashed pink dotted lines
- After the candle close, price may continue in our favour or may want to reverse.
- If price reverse back to the pink dotted line after the candle close, close the trade
- If price continues in our favour, wait for the candle to close above the next pink line
- After the candle close, price may continue in our favour or may want to reverse.
- If price reverse back to the pink line, close the trade otherwise close all trades when price touches the outer pink line
Stop loss: Optional to use it or not
- X% of Daily ATR distance below the open price for each trade
- Or Last swing low on H4
- Or No stop loss
- Apply stop loss to each trade separately
Trading: Short
Short Entry
- Wait for price to go above the pink outer band
- Wait for price to close back below the pink outer band
- On the open of the next bar, take the reversal trade.
- Take the reversal trade each time price pokes above the pink outer band and closes back below it
- Exception: Avoid the trade if
Short Exit
- Wait for the candle to close below the dashed blue dotted lines
- After the candle close, price may continue in our favour or may want to reverse.
- If price reverse back to the blue dotted line after the candle close, close the trade
- If price continues in our favour, wait for the candle to close below the next blue line
- After the candle close, price may continue in our favour or may want to reverse.
- If price reverse back to the blue line, close the trade otherwise close all trades when price touches the outer blue line
Stop loss: Optional to use it or not
- X% of Daily ATR distance above the open price for each trade
- Or Last swing high on H4
- Or No stop loss
- Apply stop loss to each trade separately
I hope this helps. Cheers.
DislikedSpikehunter Review Each new release gets better and better. Great job R4M. I overlay spikehunter on NIH98 TMA with the settings displayed {image} {image} If you agree with me, then you see that they are pretty much the same. But I do not entirely agree with the exits printed. The entries are almost the same but could be better. Consider the proposal below. If it's an overload, you may minimise the post. Entries & Exits {image} I marked my entries above. Works similar on M5 and M15 Long Entry - Wait for price to go below the blue outer band - Wait...Ignored
DislikedSpikehunter Review Each new release gets better and better. Great job R4M. I overlay spikehunter on NIH98 TMA with the settings displayed {image} {image} If you agree with me, then you see that they are pretty much the same. But I do not entirely agree with the exits printed. The entries are almost the same but could be better. Consider the proposal below. If it's an overload, you may minimise the post. Entries & Exits {image} I marked my entries above. Works similar on M5 and M15 Long Entry - Wait for price to go below the blue outer band - Wait...Ignored