Dislikedu mind explaining what OB/OS stands for? sorry if it sounds stupid.Ignored
OS - Oversold condition
My Live Trades on my Live Account 588 replies
DislikedAnd another thing.... (while I am imparting my somewhat dubious insights)
Yesterday for ME was a terrible day, I couldn't get a trade correct if my life depended on it, and I managed to blow thru some 160 pips in losses.
In fact yesterday alone I had more losers than I have had in the previous 3 weeks.
However, that being said, I am still nicely in profit
somedays the system won't work / or you manage to take every false signal (and like all systems this produces a few)
Everything must be taken into consideration - don't discard a system just...Ignored
DislikedIn the attached screenshots I added an arrow where stochastic went from sell to buy/ vice versa.
Is there an indicator which gives an alert when that happens?
(I don't mean each step up or down, just when stoch changes to buy or sell)Ignored
Dislikedhi jmw, mind to tell what trigger buy?
cos CCI oversold?
my screen look like below.Ignored
the problem is the indicator you are basing your alert on.
the color stochastic indicator you attached, simply compares the current stochastic value with the previous, and paints all lines in that time period with the same value.
so in theory on an hourly stoch the following could happen
open of the hour, stoch is up
15m into the hour, stoch is down
30m into the hour, stoch is equal
45m into the hour stoch is up again
on the indicator you are using all you would see is the final value, which is up, but during the hour it went...Ignored
DislikedI think I understand what your are trying to say, but I intend to use this indicator (period 60 or 240) on the 5 minute chart as described in the first post by Kevin. For longer term trends, not scalping.
The indicator does change on the 5min chart, not once an hour and "seems" reliable. Maybe I didn't get your point???Ignored
Dislikedyeah, I think you missed the point I was trying to make
this indicator repaints the current bar (like all indicator) - but remember this is the current bar on the other timeframe
so my example again of 1hr MTF stoch, on a 5m chart
12 5m bars make up the hour
so when it repaints the current bar on the MTF timeframe, it can repaint upto 11 candles back on the 5m
only when the hour bar is closed, is the 12 5m candles that make up that bar not repainted anymore.Ignored
DislikedOk. Thank you. Got it.
Haven't watched the indicator long enough to see if it repaints or not.
Here is the entry for longterm trades off the 1st post by kevin:
You can either enter the market (long term) when the mtf stochastics is changing directions and hold until trend is done or at any of the retracement bars going in the direction of the trend and hold (20-400pips)"
So, has there been a change as to what indicators to use for this trading concept, rather than the scalping?
Can you recommend a mtf stoch with alert, nonrepainting,...Ignored
DislikedI've experienced 7x times requote... This is a joke. I didn't put 20 lots so the broker could easily managed my open short position.
What a joke...
EDIT : Sorry I made a mistake wth the number of pips. I managed to close @ .4387 from .4417. So it's a 30pips.Ignored
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