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How to properly use indicators

  • #141
  • Nov 16, 2017 6:05am Nov 16, 2017 6:05am
Quoting fxprimate
{quote}I've tried countless times without indicators only with PA but I can not find a pattern that I can monetize. I know it is possible but my intelligence or insight to discover these patterns is small. {image}
I found this pattern - a pullback entry - interesting recently. I would personally try it with Tom DeMark's idea for an exit target (improves R:R).

Cheers,
k


Inserted Video
  • #142
  • Nov 16, 2017 6:23am Nov 16, 2017 6:23am
Quoting VEEFX
{quote} During my pre-MT4 years, I could never understand what a repainting indicator is. Could you please define? Any indicator based on a variable will always paint or change whatever it is measuring right?
Correct. There is no such thing as a "repainting" indie. Some indies are meant to be used in real time. So when backtesters come along and say the indie moved, they are correct about that because the indicator was INDICATING what is happening NOW. So past readings mean nothing. This is why backtesters struggle. Even worse, if a strategy could be backtested to be proven profitable, GS and JPM would be using it. It would mean that there is such a thing as a perfect trade, and we all know that a perfect trade cannot exist because there would be no one to take the other side.

Quoting kprsa
{quote} I found this pattern - a pullback entry - interesting recently. I would personally try it with Tom DeMark's idea for an exit target (improves R:R). Cheers, k https://www.youtube.com/watch?v=1vw24Yku0Vk
I think I am going to start calling trendlines drawn with confirmed swing highs JMNlines! Then I will write a book and go on tour! Then I will call a measured move the JMNPriceProjection, write an EA and sell it! Yeah, that's it! That's the ticket!
If you are good at something, never do it for free--Joker
  • #143
  • Nov 16, 2017 6:44am Nov 16, 2017 6:44am
Quoting jmn5611
{quote} I think I am going to start calling trendlines drawn with confirmed swing highs JMNlines! Then I will write a book and go on tour! Then I will call a measured move the JMNPriceProjection, write an EA and sell it! Yeah, that's it! That's the ticket!

I know. I just wanted to avoid drawing a chart myself.
Cheers,
k
  • #144
  • Nov 16, 2017 7:03am Nov 16, 2017 7:03am
Quoting kprsa
{quote} I found this pattern - a pullback entry - interesting recently.
Also interestingly, this exact pattern is against my trade in oil. I am less optimistic about that bet now.
Cheers,
k

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  • #145
  • Nov 16, 2017 11:35am Nov 16, 2017 11:35am
Quoting kprsa
{quote} I found this pattern - a pullback entry - interesting recently. I would personally try it with Tom DeMark's idea for an exit target (improves R:R). Cheers, k https://www.youtube.com/watch?v=1vw24Yku0Vk
Thanks K
I prefer the wyckoff logic, when we have Re-accumulation or Re-distribution and trade the (correction) pullback.
POW!
  • #146
  • Nov 18, 2017 3:23am Nov 18, 2017 3:23am
Quoting Telac
{quote} My God, you are a machine yourself!! I have a hard enough time dealing with 2 VPS's with 4 terminals on each! More than amazing is all I can say! My deepest respect - particularly when taking into account that IQ? Always appreciate all the crumbs you drop, though many are beyond me but they do keep my wheels spinning and for that I am grateful. Thx for all the input.... I may be out of sight but always following along with the hope of gathering useful info.
What is a VP? I know a bit about vintage port but that's about it. Thanks in advance.
Gone to a better place
  • #147
  • Nov 18, 2017 10:00pm Nov 18, 2017 10:00pm
Quoting MoneyZilla
{quote} Please share more. You are far better person than me. Some readers will start seeing things in your examples. Not happy they just want the woman naked lying on the bed. Having her oven hot to 180 C. Just ready to bake their cookies... anytime they like. I think a guy has to deserve his/her success by working hard to achieve it... I am helping noone who just want to know how to make 500% per month/year, whatever, without putting his ass in front of the monitor for 16 hrs a day in the comming 2-3 years.
I am agree with you MoneyZilla,
I will try my best to understand all of stuffs given in some threads, i know this will need time but i am sure it worth. Will spend more time than i normally do (5-14 hrs a day) in next week ends to read and mastering the stuffs. Now i know why some amateur athletes failed, because they have not spent enough time to train and improve them selves... and i am one of them ...
And thank you for your reply/information; about the channel ... Gracias !
I am failed,but i found 1,000 ways that won't work ...
  • #148
  • Nov 18, 2017 10:16pm Nov 18, 2017 10:16pm
Quoting despacito7
{quote} I am agree with you MoneyZilla, I will try my best to understand all of stuffs given in some threads, i know this will need time but i am sure it worth. Will spend more time than i normally do (5-14 hrs a day) in next week ends to read and mastering the stuffs. Now i know why some amateur athletes failed, because they have not spent enough time to train and improve them selves... and i am one of them ... And thank you for your reply/information; about the channel ... Gracias !
Yes, you have to try many times. Remember how many times you have tried to write your first letters until you get to the point to write 1-2 page stories? It is the same with everything...
Maadik Hugiis. IQ 69.
  • #149
  • Nov 19, 2017 11:03pm Nov 19, 2017 11:03pm
When I started trading I used indicators 2 each for the trend, momentum, cycle, support, and resistance. Today I start with a candlestick chart. From that plain chart, I can see usually in an instant the trend. All indicators have their flaws and advantages, it all depends on which ones you understand better.
  • #150
  • Edited 11:40am Nov 20, 2017 11:29am | Edited 11:40am
Quoting smikester
{quote} What is a VP? I know a bit about vintage port but that's about it. Thanks in advance.
Hi smikester,
may be do you mean VPS instead of VP ? If it is VPS, as far as i know ... it is a Virtual Private Server, so you can rent a server (or just space on a server), and it will be like your "home PC" with 24x7 available on the net. Normally it is used for putting your EA there, and you can sleep well without worries about loss of internet connection, slow connection, re-quote, etc. Normally we choose a fast processor with big ram server, having good bandwidth and near to main internet backbone (or at least near to your broker server location). But ... i do not think that it is a good idea to trade using full automatic using EA and put your EA on a server that is own by other people (although your EA works just like an Hidden exit manager ?)... .. just my opinion - i am a beginner trader - so this might be wrong ... ??
I am failed,but i found 1,000 ways that won't work ...
  • #151
  • Nov 20, 2017 9:17pm Nov 20, 2017 9:17pm
Quoting Butterscotch
When I started trading I used indicators 2 each for the trend, momentum, cycle, support, and resistance. Today I start with a candlestick chart. From that plain chart, I can see usually in an instant the trend. All indicators have their flaws and advantages, it all depends on which ones you understand better.
That's quite a nice idea, it is always good to use the candlesticks charts than the other two. The candlestick charts is more effective to obtain the information of the Forex Market.
  • #152
  • Edited 10:21am Nov 21, 2017 7:19am | Edited 10:21am
Quoting limprobable
Where to buy where to sell ? {image}
Nice picture mate . Please see attached images (i draw the dot based on my understanding of your image), do i understand it right ? Do you have a statistic about this, how big is the probability of next candle goes in the right direction and/or how big is your target for TF M15, H1 etc ? My result is still not so good just using this signal alone ...
I attach your image too below. Could you explain about the blue and orange line ? It looks like a bigger TF line, but what is the math behind it ? Gracias.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd-m15.jpg Size: 74 KB
Attached Image
I am failed,but i found 1,000 ways that won't work ...
  • #153
  • Nov 21, 2017 1:34pm Nov 21, 2017 1:34pm
Quoting despacito7
{quote} Hi smikester, may be do you mean VPS instead of VP ? If it is VPS, as far as i know ... it is a Virtual Private Server, so you can rent a server (or just space on a server), and it will be like your "home PC" with 24x7 available on the net. Normally it is used for putting your EA there, and you can sleep well without worries about loss of internet connection, slow connection, re-quote, etc. Normally we choose a fast processor with big ram server, having good bandwidth and near to main internet backbone (or at least near to your broker server...
Yes, you're right. I was quoting telac. I think he may have corrected his typo or maybe I misread it. I use a VPS myself. Thanks anyway.
Gone to a better place
  • #154
  • Nov 22, 2017 3:31am Nov 22, 2017 3:31am
Quoting despacito7
{quote} Nice picture mate . Could you explain about the blue and orange line ? It looks like a bigger TF line, but what is the math behind it ? Gracias.
This is just high Low of the previous day.

Green pips
Bottomless wonders spring from simple rules, which are repeated without end
  • #155
  • Nov 22, 2017 6:17am Nov 22, 2017 6:17am
Quoting kprsa
{quote} One can also think of a better entry than taking every indicator signal. A simple filter would be taking a sell signal only when it coincides with the price making a lower high. (Exit for this example could be: Staying in trade as long as price continues to make lower highs and lower lows on the chosen timeframe/indicator period.) Cheers, k
I made an oscillator at tradingview that should make this wave riding process more-less automatic. The oscillator represents buy/sell waves. The best is to catch the wave at the point when the opposite wave in the other direction just becomes weaker. (If someone is interested, I'll transcribe the indicator to mt4, but I'd share only the executable. In principle one can tweak standard oscillators to the same format/similar behaviour.)

Attached Image (click to enlarge)
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Cheers,
k
  • #156
  • Nov 22, 2017 6:28am Nov 22, 2017 6:28am
I have to say I have always thought of indicators ( lagging as in oscillators etc) as ambiguous given that all they are telling you, in reality, is what happened x amount of periods ago in relation to what is happening now.
We can see that by simply looking and in no way can it "indicate" what will happen next.
Having said that I did have a modicum of success at one time trying to "think outside the box"
My reasoning was that large amounts of traders use these indicators as a means of identifying overbought/sold areas and as we all know this only leads to failure.
So I looked at the likes of RSI , Stochs etc when OB/OS as not only areas where weak holders were being weeded out of the market but also as identifying this as where real interest starts to appear.
As such when price entered OB/OS areas on the indicators set sensitively ( 5 or 8 periods) on the higher tf's (H1 and above) I would then look to trade in THAT direction.
It was however quite labour intensive and I lost interest with it.
For the last few years I have completely put them aside (apart from real time indis such as volume based) but good luck to anyone who manages to use them successfully.
Where price is now, it has been before, and will be again.
  • #157
  • Nov 22, 2017 7:05am Nov 22, 2017 7:05am
Quoting Jenx
I would then look to trade in THAT direction.
That's exactly the way I described here. Do you know that stochastic 100/0 readings are identical with the cycle identifier, 3 level semaphors and ZZs if you modify the settings?! The only problem using your indicators this way is that the stochastic sometimes only reaches one time the 100/0 before going to the opposite side.
  • #158
  • Nov 22, 2017 7:07am Nov 22, 2017 7:07am
Quoting kprsa
{quote} I made an oscillator at tradingview that should make this wave riding process more-less automatic. The oscillator represents buy/sell waves. The best is to catch the wave at the point when the opposite wave in the other direction just becomes weaker. (If someone is interested, I'll transcribe the indicator to mt4, but I'd share only the executable. In principle one can tweak standard oscillators to the same format/similar behaviour.) {image} Cheers, k
May you explain how the oscillator is calculated?!
  • #159
  • Nov 22, 2017 7:27am Nov 22, 2017 7:27am
Quoting AntiCre
{quote} May you explain how the oscillator is calculated?!
The indicator is an estimate of velocity/momentum using a simple Kalman filter. However, for the purpose of the entry I was proposing the details of the indicator are not important (and I would not broadcast them), but rather the comparison of amplitude of subsequent waves. One should be able to get similar values from any unbound oscillator, with a bit of period tuning.

Cheers,
k
  • #160
  • Nov 22, 2017 7:49pm Nov 22, 2017 7:49pm
Quoting kprsa
{quote} I made an oscillator at tradingview that should make this wave riding process more-less automatic. The oscillator represents buy/sell waves. The best is to catch the wave at the point when the opposite wave in the other direction just becomes weaker. (If someone is interested, I'll transcribe the indicator to mt4, but I'd share only the executable. In principle one can tweak standard oscillators to the same format/similar behaviour.) {image} Cheers, k
It would be very nice if we can have it for MT4 kprsa, please share if you have free time, thank you in advance. It doesn't matter if it is only in EX4 format, at least we can see how it works ...
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