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Random Walk (The unbeatable!)

  • #281
  • Edited 6:44am Jun 24, 2017 6:33am | Edited 6:44am
Quoting GoldTheHun
{quote} That is what I tried to explain. When you start receiving first quotes for the new week that is the correct time for the open. The indicator doesn't check for the time, it just checks the open price of the day from Daily time frame. But if some brokers are are playing with that I wouldn't know. The markets are opened the minute first quotes are received on Sunday (or Monday) depending on where you live. It is also the beginning of Australian session. So check your broker. If it doesn't fit this criteria than move...
Hello Gold. Thanks for sharing such a great tool. Was wondering if any calculations made using open price(daily open and/or weekly open) could alternatively be done using closing prices instead?(i.e previous day close/previous week close) in calculating the levels. This could help to cancel any distortion introduced on gap days/weeks? I don't know if this suggestion makes sense???
  • #282
  • Jun 24, 2017 9:00am Jun 24, 2017 9:00am
Quoting LITEchild
{quote} Hello Gold. Thanks for sharing such a great tool. Was wondering if any calculations made using open price(daily open and/or weekly open) could alternatively be done using closing prices instead?(i.e previous day close/previous week close) in calculating the levels. This could help to cancel any distortion introduced on gap days/weeks? I don't know if this suggestion makes sense???
Hello LITE,
Thanks for you comments and idea. I have tried previous DAY/WEEK close, but it does not work as good. Random walk must start from the Daily/Weekly open in order to work properly. Hope this helps..

Good Luck.....
  • #283
  • Jun 24, 2017 9:20am Jun 24, 2017 9:20am
Quoting GoldTheHun
{quote} Hello LITE, Thanks for you comments and idea. I have tried previous DAY/WEEK close, but it does not work as good. Random walk must start from the Daily/Weekly open in order to work properly. Hope this helps.. Good Luck.....
Thank you for the quick reply. I am impressed by your thoroughness in testing different ideas. I have incorporated these levels into my scalping strategy as a whole and i must say the results have improved trmendously. I will keep testing though and see how it holds up in the long run. trade safe.
  • #284
  • Jun 24, 2017 9:50am Jun 24, 2017 9:50am
Quoting LITEchild
{quote} Thank you for the quick reply. I am impressed by your thoroughness in testing different ideas. I have incorporated these levels into my scalping strategy as a whole and i must say the results have improved trmendously. I will keep testing though and see how it holds up in the long run. trade safe.
Thank you for your feedback. I am glad that the levels improved you trading. Please continue with your feedback...

Good Luck..
  • #285
  • Aug 18, 2017 3:55am Aug 18, 2017 3:55am
Hi Gold,

Love your work. The levels line up very well. Was wondering whether there is any way of modifying the "start of the day" in the code so that it starts at a more convenient time for me. I normally don't have a chance to have a look at the levels until 12-13 hours after the start of the day.

Thanks for your work and sharing!
  • #286
  • Aug 30, 2017 11:15pm Aug 30, 2017 11:15pm
Quoting GoldTheHun
{quote} Glad to hear that FireFries.... Good Luck...

hello there..can anybody attached the indi that has been rectified...sorry i do not know how to do it...tq
  • #287
  • Aug 31, 2017 10:27pm Aug 31, 2017 10:27pm
This is well researched and a good system.

Thanks for sharing..

One of the best ideas I've seen in a decade of trading..
  • #288
  • Sep 1, 2017 6:10am Sep 1, 2017 6:10am
Quoting appreciation
This is well researched and a good system. Thanks for sharing.. One of the best ideas I've seen in a decade of trading..
Thank you for the compliments. I hope it improves your trading.

Best of Luck....
  • #289
  • Sep 1, 2017 6:29am Sep 1, 2017 6:29am
Quoting kprsa
{quote} This should do the trick. Also added the Zscore=1.28 level. {file} Cheers, k
Maybe it is my terminal, but can you look at the code I take this on my chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Pivotgoldthehun.png Size: 29 KB
Looking for profitable short term trades ...|
  • #290
  • Sep 1, 2017 8:53am Sep 1, 2017 8:53am
Quoting Js3mwtRc
{quote} Maybe it is my terminal, but can you look at the code I take this on my chart: {image}
You should use the indicators on post #21.
  • #291
  • Sep 1, 2017 10:51am Sep 1, 2017 10:51am
Quoting GoldTheHun
{quote} You should use the indicators on post #21.
I did and it is o.k. but not the version with the historical levels, maybe kprsa can help.
Looking for profitable short term trades ...|
  • #292
  • Sep 3, 2017 7:49am Sep 3, 2017 7:49am
Quoting JKLee
{quote} Thanks for your kind advise. Yesterday, I wanted to watch how many pairs touch the 23.6/78.4 level and rebound. Today, I have better results so far. {image} {image} {image}
I see on graphic doble top. Interesting how succeful would be if we could only trade this pattern. Because big money make this pattern(not realy shure lol)
  • #293
  • Sep 5, 2017 6:10am Sep 5, 2017 6:10am
Quoting Js3mwtRc
{quote} Maybe it is my terminal, but can you look at the code I take this on my chart: {image}
Hi, try changing the colors of the indicator for the lines. It is possible that the colors got messed up somehow.
Cheers,
k
  • #294
  • Sep 5, 2017 11:14am Sep 5, 2017 11:14am
Quoting kprsa
{quote} Hi, try changing the colors of the indicator for the lines. It is possible that the colors got messed up somehow. Cheers, k
Thank you kprsa, I tried to change the colors but, the same condition remains can you fix it and ad settings to show backhistory according to a number of bars? (can it show the backhistory of the day without changing variables after big volume? - not recalculate the levels).
Looking for profitable short term trades ...|
  • #295
  • Sep 5, 2017 1:48pm Sep 5, 2017 1:48pm
Quoting Js3mwtRc
{quote} Thank you kprsa, I tried to change the colors but, the same condition remains can you fix it and ad settings to show backhistory according to a number of bars? (can it show the backhistory of the day without changing variables after big volume? - not recalculate the levels).
I have no time to play with the code or add features. Sorry.
The source code is given and someone else can edit/update it if it's broken.
k
  • #296
  • Edited 9:22am Sep 22, 2017 8:47am | Edited 9:22am
hi all...new here and new to trading (6 mos). I've installed script and everything looks perfect except the daily start time. I'm central time US and my broker (oanda) is +8 hours ahead. Broker new week starts at 00:00 on Monday morning or 4pm Sunday local time.

Do the S/R lines drawn by the script account for this in some way or is there a setting I should change? Looking at how the fib levels are holding/resisting 17 hours in, I think I'm good but would like for someone to confirm.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 125 KB
Blessed is the one who takes refuge in Him.
  • #297
  • Sep 22, 2017 11:01am Sep 22, 2017 11:01am
One additional question....

has anyone ported this for TOS?
Blessed is the one who takes refuge in Him.
  • #298
  • Sep 22, 2017 1:35pm Sep 22, 2017 1:35pm
Quoting reo4ua
hi all...new here and new to trading (6 mos). I've installed script and everything looks perfect except the daily start time. I'm central time US and my broker (oanda) is +8 hours ahead. Broker new week starts at 00:00 on Monday morning or 4pm Sunday local time. Do the S/R lines drawn by the script account for this in some way or is there a setting I should change? Looking at how the fib levels are holding/resisting 17 hours in, I think I'm good but would like for someone to confirm. {image}
The new week time you mention is correct. As you said you are good to go...

Good Luck...
  • #299
  • Sep 26, 2017 10:56am Sep 26, 2017 10:56am
Gold - Broker is Finpro and they are 5 hours ahead of my local time. If new week starts at 4pm local time, I should draw the fibs at 9pm broker time, correct?




Quoting GoldTheHun
{quote} The new week time you mention is correct. As you said you are good to go... Good Luck...
Blessed is the one who takes refuge in Him.
  • #300
  • Nov 17, 2017 7:14am Nov 17, 2017 7:14am
Following this thread, lots of insights, thanks everybody.
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