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Software tools for LauraT's Roadmap 167 replies

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Attachments: Roadmap - A Way To Read Markets
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Roadmap - A Way To Read Markets

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This was an ADR trade I took. Price went to ADR High but RSI was still under 50. Once price began to stall at ADR High I got short.

Take profit was at SMA/Yesterday's Low.

EDIT - Sorry guys, I should have clarified. This is an advanced part of the methodology and should not be tried until you have the basics well understood. With this type of trade, the MTF Dashboard will be against you short-term but the RSI should be on your side.
how about the rsi, i thought either below 40 or above 60 ? xti worked with the atr
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Quoting LauraT
{image} This was an ADR trade I took. Price went to ADR High but RSI was still under 50. Once price began to stall at ADR High I got short. Take profit was at SMA/Yesterday's Low.
Looks advanced, without spoiling this method too much (assuming we will go into ADR trades later), do you still want 3 out of 4 multiple time frames too match as the Channel on M5 is above SMA and therefore has bias to go long? In this ADR trade example I expect at least M1, M15, M30 to have bias to go short.
Here my very first trade. the red line delimits my entry and exit. (I trade a different Plattform)
I saw rejection off the days open and entered the trade.
The blue line is a trendline I drawed. After entry on M15 I switched to M1 and saw rejection off the trendline so I closed the trade for 18 pips.
Oh dear just after I closed... price dropped.... LOL sometimes my fear just teaches me a lesson!

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Quoting FlyingCat
{quote} Looks advanced, without spoiling this method too much (assuming we will go into ADR trades later), do you still want 3 out of 4 multiple time frames too match as the Channel on M5 is above SMA and therefore has bias to go long? In this ADR trade example I expect at least M1, M15, M30 to have bias to go short.
My mistake, I forgot to clarify that this was an advanced type of trade and best avoided until you have the basics well understood. I've edited the post now.
No idea why i closed it early, i guess it was fear of being wrong, with all things in favor i should have wait for adr low, On the other hand i could think that since it was counter trend i closed to late, since the SMA should have being the logical target
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MTN
Quoting Marcelomtn
No idea why i closed it early, i guess it was fear of being wrong, with all things in favor i should have wait for adr low, On the other hand i could think that since it was counter trend i closed to late, since the SMA should have being the logical target {image}
It was a good trade - nothing to feel bad about
Quoting jackwei94
{quote} I see... Thank for the advice.. Hehe.. Learnt one more lesson on the Adr value. By the way, does the mt4 mobile able to implement similar indicators such as the Adr and trendstrengh and MTF?
Hi,

as far as I know mt4 does not provide such indicators. A VPS would give you the possibility to look at your charts via your mobile using a remote application

Regards

Ferry
i am out
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Have you downloaded CompRSI in post 1?

Read post one on how to use it and other post that talks about it.

It will do you real good and thanks lady L T for this thread
This one i had more guts to follow my initial plan to exit near adr low close to the consolidation zone, however nothing is perfect, i had a trade just at the tip of the channel and closed it without looking at sma dashboard and rsi (This would have given me courage to hold the position)
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MTN
Quoting LauraT
Template and Indicators : {file} {file} {file} {file} {file} {file}

Laura,
Thanks for sharing those valuable insights on the 'Roadmap'. I am a new trader and would like to know how to set up the CompRSImtf on MT4? And what program is siutable for opneing the attached files?
Another good example of Roadmap, all thanks to Laura.
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Hi,
I went short at the arrow. Is this a valid entry?
I really like this method, thank you Laura
Im trying to figure out a way of trading it on the daily because I have to go back to work soon. Would yesterdays daily high and low be last weeks high and low? Also would ADR be the ADR for this week? can you help me on this pls.
Thank you.
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Quoting r-ali
Hi, I went short at the arrow. Is this a valid entry? I really like this method, thank you Laura Im trying to figure out a way of trading it on the daily because I have to go back to work soon. Would yesterdays daily high and low be last weeks high and low? Also would ADR be the ADR for this week? can you help me on this pls. Thank you. {image}
closed the trade. Was close to tp.
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No one has mentioned position sizing or risk management, so I'm assuming that trades are just taken using a fixed lot size and one click entry, with stops and take profit added later

There is a very handy EA in the Codebase called AutoStop that will place both Stop Loss and Take Profit for you when the trade is entered

PS - Right click on Autostop and you will see a Download option

Now, they might not be exactly where you want them for every pair, but the advantage of using AutoStop is, firstly, you have a stop immediately when the trade is opened

The second and most useful function of having both the Stop Loss and Take Profit levels on the chart is that you save time and are able to immediately DRAG those lines to exactly where you want them

Hope that helps someone, somewhere, sometime, trade well my friends

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If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step Return This Week: na
Thank you Laura for the wonderful thread and for the indicators that complement the overall picture of this amazing game!
Do not keep up with you! But I catch up every day!
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Quoting LauraT
{quote} It was a good trade - nothing to feel bad about
This looks like a sell above the 200 SMA to me.
All you touch and all you see, is all your life will ever be.
I am loving how this is developing!

is there anyway we can create a poll to see where this is being applied? I am seeing a large majority of index trading, and I am curious if that is the best fit or people following suit.

awesome stuff!
Quoting LauraT
{image} This was an ADR trade I took. Price went to ADR High but RSI was still under 50. Once price began to stall at ADR High I got short. Take profit was at SMA/Yesterday's Low. EDIT - Sorry guys, I should have clarified. This is an advanced part of the methodology and should not be tried until you have the basics well understood. With this type of trade, the MTF Dashboard will be against you short-term but the RSI should be on your side.
It is either going to be away from the mean or back to the mean. Which has the best seat in the house?
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