And now is the H4 chart. It's not really a 'perfect setup' like H1 and I wouldn't trade it this way, but given H1 was so perfect I used H4 as a measuring device. Pretty much nailed 3x to the pip.
HAC & RAC - A Simple-Minded Approach
- #483
- Dec 21, 2017 1:51pm Dec 21, 2017 1:51pm
H4 Projection
Like the previous example, this one also had a nice H4 projection - a 3x to the pip. In this case, a high was made just as the H4 RAC crossed the key level. To my mind, this establishes some importance. Anyway, the projection was made on the close when the key level was crossed to the downside.
Like the previous example, this one also had a nice H4 projection - a 3x to the pip. In this case, a high was made just as the H4 RAC crossed the key level. To my mind, this establishes some importance. Anyway, the projection was made on the close when the key level was crossed to the downside.
- #486
- Jan 4, 2018 1:17pm Jan 4, 2018 1:17pm
A Helpful Tool
I've been perusing on Forexalien's thread lately and happened across a nice indicator - a multi TF Drake Stochastic (more on this later). Anyway, I modified the code a bit and made a multi-TF HAC line. I have two versions, each having 4 lines.
This one matches the red HAC to the green on the next higher TF. For example:
TF 1 RED to TF 2 Green
And...
TF2 Red to TF 3 Green
There are buttons on it to turn them on and off.
This next one plots up to 4 HAC lines, each with its own button to turn it on and off. Many thanks to Emonts over at Forexalien's thread for this! I don't have that much talent to do this entirely myself.
I also made a MTF RAC indy as well using the same bit of code. I rather like this!
I've been perusing on Forexalien's thread lately and happened across a nice indicator - a multi TF Drake Stochastic (more on this later). Anyway, I modified the code a bit and made a multi-TF HAC line. I have two versions, each having 4 lines.
This one matches the red HAC to the green on the next higher TF. For example:
TF 1 RED to TF 2 Green
And...
TF2 Red to TF 3 Green
There are buttons on it to turn them on and off.
This next one plots up to 4 HAC lines, each with its own button to turn it on and off. Many thanks to Emonts over at Forexalien's thread for this! I don't have that much talent to do this entirely myself.
I also made a MTF RAC indy as well using the same bit of code. I rather like this!
- #487
- Jan 4, 2018 9:24pm Jan 4, 2018 9:24pm
I just remembered that I had to put a different source file for the HAC calculation. It does the same thing as the "HAC_v0.200[KristopherStreeter]" one. I just couldn't get the original to work because I don't have the mt4 file for it. Anyway, here it is:
- #489
- Feb 1, 2018 11:38am Feb 1, 2018 11:38am
I have been experimenting with the MTF RAC line indicators, and I'm not sure the best way to use them. How are you using them Almuten? Which TF do you scan the charts with? And what do you watch for? Do you wait until all four lines come close to each other and price crosses them? Thanks, and hope your doing well.
What I wanted to do was place all the info for multiple TFs on a single chart because it would be easier to manage (at least in theory). At the very least it could offer a quicker, cleaner view of the relationships between TFs. Also, I think with a bit of practice and discernment, one could jump into a longer term trade a bit earlier. I'll give some examples.
In the chart below is the GBPJPY on M15. I have the HAC MTF indy and the RAC MTF indy. I'll go over a few days and tell you how I see this.
The green lines are for M15
Red lines are H1
Yellow lines are H4
To reduce confusion I switched off the D1 on both the HAC and RAC
On Jan 2nd the situation was as follows:
1st half of the day:
H4 - very strong - RAC > 80 and sloping up
H1 - same as H4
M15 - > 80 intermittently
Later the M15 RAC crossed below 80 and then H1 also crossed down, but H4 was showing no signs of degrading. The M15 didn't even make it to 3x, but was 5 pips shy of it.
A bit later a cross above 20 on M15 happened, but it was not touching the HAC line so it's a dubious situation. H1 was ok because its RAC line was sloping up while its HAC was touched by price. But still, it's a dubious situation.
Jan 3rd a similar scenario unfolded with H4 > 80, H1 > 80 and M15 RAC crossing below 80. The high exceeded the previous day's high by only a few pips and another short was initiated. This time it hit a 4x target for M15.
Another useful thing about this is that you can monitor hits to the HAC line for 'bounce trades.' For instance, the market hit the H4 HAC line while the H4 RAC was > 80. Combined with the fact that M15 had just hit a 4x profit target, this could be a decent area to take a long on the cheap.
The next day we see the M15 set up for a trade. Indications are great for a long position for the following reasons:
1. H4 HAC bounce the day before
2. H4 RAC > 80
3. H1 RAC > 50
This one took until the following day to hit 3x. Along the way, the M15 RAC (green), overtook H1 and H4, which is a great sign that it will continue on.
On Jan 8th there was a nice, clean crossing down of the H&R on M15. Other indications are for market strength though because H4 RAC > 80, H1 > 80. Best not to get greedy on the short side.
On the long side, there was an H1 'bounce' trade. The H1 RAC > 80 while the H1 HAC was penetrated.
- #490
- Feb 1, 2018 12:04pm Feb 1, 2018 12:04pm
Jan 9th - this is the kind of ideal scenario that you want to find; a quick, cascading of triggers from one TF to the next.
But since H4 was involved, I'll put on the D1 and see its relationship to everything.
You can see that the H4 RAC has now crossed below D1 RAC (pink line). This means that it could be pulling the D1 down lower, as shorter TFs lead the higher. For this reason, we can put on a 3x H4 target along with H1
Running until the 10th, the market bounced neatly off the 3x H4 profit target.
But observe that the D1 HAC was penetrated while its RAC was well above 80. In itself, it's a good reason to believe it will bounce up for a good long position. It was beginning to slope down though, but still, the argument is for a long, especially after H4 had just hit a major profit target. So now we look for confirmation of that from the lower TFs.
But since H4 was involved, I'll put on the D1 and see its relationship to everything.
You can see that the H4 RAC has now crossed below D1 RAC (pink line). This means that it could be pulling the D1 down lower, as shorter TFs lead the higher. For this reason, we can put on a 3x H4 target along with H1
Running until the 10th, the market bounced neatly off the 3x H4 profit target.
But observe that the D1 HAC was penetrated while its RAC was well above 80. In itself, it's a good reason to believe it will bounce up for a good long position. It was beginning to slope down though, but still, the argument is for a long, especially after H4 had just hit a major profit target. So now we look for confirmation of that from the lower TFs.
- #491
- Feb 1, 2018 12:36pm Feb 1, 2018 12:36pm
Jan 11th
On this day the market futzed around, trying to build a long position, etc... The first opportunity would've been a loss of around 45 pips. After that it was clear sailing.
Jan 12th
M15 and H1 both triggered. H1 had a late RAC crossing, but in some instances this is ok. It's when there's no real resistance going the other way. In this case, we already had a H4 target reached, along with a D1 bounce forecast, so I'd excuse it. Nevertheless, M15 triggered nicely. 3x target on that was 152 pips. 4x was 204 pips.
H1 profit targets, if they were used, looked like this:
H4 targets would've taken up to the 25th for a 2x target to the pip. Also, I would like to remind people that we try to trade in the direction of H4, especially if there are unrealized profit targets on that TF. That one rule alone would keep us long for the duration.
On this day the market futzed around, trying to build a long position, etc... The first opportunity would've been a loss of around 45 pips. After that it was clear sailing.
Jan 12th
M15 and H1 both triggered. H1 had a late RAC crossing, but in some instances this is ok. It's when there's no real resistance going the other way. In this case, we already had a H4 target reached, along with a D1 bounce forecast, so I'd excuse it. Nevertheless, M15 triggered nicely. 3x target on that was 152 pips. 4x was 204 pips.
H1 profit targets, if they were used, looked like this:
H4 targets would've taken up to the 25th for a 2x target to the pip. Also, I would like to remind people that we try to trade in the direction of H4, especially if there are unrealized profit targets on that TF. That one rule alone would keep us long for the duration.
- #492
- Feb 1, 2018 12:56pm Feb 1, 2018 12:56pm
Jan 25th & 26th
On the 25th, a short initiated on M15 for a 2x profit (if it was taken). The H1 triggered late on the RAC, so right there is a reason to think it will reset and test the top. The 26th afforded an ideal opportunity to the short side though. Boom! Boom! Boom!
The profit targets of 4x for M15 and 3x for H1 were reached. Also, notice the 'bounce' trade on D1. RAC > 80 while D1 HAC was hit. This set up for a very nice long on both M15 and H1.
I hope this development is helpful. I just wanted to be able to more easily monitor pairs is all. Same rules apply. It's just an easier way of keeping track of what's happening.
Happy Trading to all
On the 25th, a short initiated on M15 for a 2x profit (if it was taken). The H1 triggered late on the RAC, so right there is a reason to think it will reset and test the top. The 26th afforded an ideal opportunity to the short side though. Boom! Boom! Boom!
The profit targets of 4x for M15 and 3x for H1 were reached. Also, notice the 'bounce' trade on D1. RAC > 80 while D1 HAC was hit. This set up for a very nice long on both M15 and H1.
I hope this development is helpful. I just wanted to be able to more easily monitor pairs is all. Same rules apply. It's just an easier way of keeping track of what's happening.
Happy Trading to all
- #498
- Sep 26, 2018 10:00pm Sep 26, 2018 10:00pm
It's been quite a while since I've posted much here and largely it's because of so many life changes. Oftentimes the journey to any type of success is full of difficulty, delay, unexpected events, tragedies and the like. I've definitely had a few of those
You know, Alien once said that to be a good trader, one also has to be a good person. I thought I was a good person, and maybe in some respects, I was. But deep down inside there was a kind of self-hatred; an abiding guilt that gnawed at me and pulled me down. It was the kind of thing that subconsciously undermined everything I did. I really wanted to rid myself of that because, no matter how hard I worked, no matter how well-developed my methods became, they were never good enough to overcome the fear of losing and the fear of the world, or what the world would do to me if I lost all I had and became destitute. To be truly free; free in mind and free to act in accord to my best interests, I had to overcome that and face it head on.
But how?
A prayer from the heart always receives an answer. It never fails. I prayed to be healed of all my self-hatred so I could be free at last. Below is what happened on account of that prayer.
For about 5 months my car was out of commission because I hit a deer. I had no job or money to get it fixed and the only job I could find within walking distance was working in a nursing home as a server in the dining department. It didn't pay much and for a several months I walked about 5 miles a day just getting to and from work. And then I'd walk another 8-12 miles on the job serving people with Alzheimer's and various disabilities their food. I felt what I was doing was like a living nightmare in many respects. For me, at that time, it was the epitome of failure as a man. I had no idea that I would be building a better foundation; one that would be based on something tangible and real, rather than mere ideas about myself.
Over time, as I gradually had my ego busted again and again, I started to appreciate what I was doing. The old people also really loved me and told me so every day. I became very important to them, especially since so many of them were virtually forgotten by their families. It's very hard for families to watch their mothers and fathers become more and more disabled. They just don't know how to relate to them anymore. I know it frightens them to the core.
These people have become almost like my own children. They are so dependent, but I deny them nothing and have learned to respond to even their unspoken needs. I can't shut out their cries, no matter how tired I am or how much work I have to do. They often get freaked out because they don't know where they are and have forgotten even their own names sometimes, but if I just stop what I'm doing and sit with them for a little while and listen to them, they don't feel all alone and feel happy again. Sometimes, when they're ready to die, they tell me and I listen to their life review. And then they go. It's like they decide and then let it go completely.
In a strange kind of way, they've led me to care for myself more. In hearing their needs, I also hear my own. In forgiving their nasty and angry moments, I forgive my own too. I think most of all what I've learned is to value what's most important. It's to value the love and connection between people because, no matter how grim things appear to be, that can never be lost. It can be forgotten, but never, ever lost.
So that's the part of the journey I'm on now. A bit of self-discovery with a dollop of self-forgiveness thrown in.
I hope to begin trading in a month or so, as I've managed to save a few hundred dollars over the last 9 months. I think I'm in a good frame of mind because just the other day as I was driving down the road, my hood suddenly flew off my car! With a fraction of a second it was gone to parts unknown (it happened so fast I couldn't even see where it went). Anyway, I just laughed and laughed all the way home. If that had happened a year ago I would've freaked out for sure! I definitely would've been angry at the very least.
Given that, I think I'm able to take a loss or two.
You know, Alien once said that to be a good trader, one also has to be a good person. I thought I was a good person, and maybe in some respects, I was. But deep down inside there was a kind of self-hatred; an abiding guilt that gnawed at me and pulled me down. It was the kind of thing that subconsciously undermined everything I did. I really wanted to rid myself of that because, no matter how hard I worked, no matter how well-developed my methods became, they were never good enough to overcome the fear of losing and the fear of the world, or what the world would do to me if I lost all I had and became destitute. To be truly free; free in mind and free to act in accord to my best interests, I had to overcome that and face it head on.
But how?
A prayer from the heart always receives an answer. It never fails. I prayed to be healed of all my self-hatred so I could be free at last. Below is what happened on account of that prayer.
For about 5 months my car was out of commission because I hit a deer. I had no job or money to get it fixed and the only job I could find within walking distance was working in a nursing home as a server in the dining department. It didn't pay much and for a several months I walked about 5 miles a day just getting to and from work. And then I'd walk another 8-12 miles on the job serving people with Alzheimer's and various disabilities their food. I felt what I was doing was like a living nightmare in many respects. For me, at that time, it was the epitome of failure as a man. I had no idea that I would be building a better foundation; one that would be based on something tangible and real, rather than mere ideas about myself.
Over time, as I gradually had my ego busted again and again, I started to appreciate what I was doing. The old people also really loved me and told me so every day. I became very important to them, especially since so many of them were virtually forgotten by their families. It's very hard for families to watch their mothers and fathers become more and more disabled. They just don't know how to relate to them anymore. I know it frightens them to the core.
These people have become almost like my own children. They are so dependent, but I deny them nothing and have learned to respond to even their unspoken needs. I can't shut out their cries, no matter how tired I am or how much work I have to do. They often get freaked out because they don't know where they are and have forgotten even their own names sometimes, but if I just stop what I'm doing and sit with them for a little while and listen to them, they don't feel all alone and feel happy again. Sometimes, when they're ready to die, they tell me and I listen to their life review. And then they go. It's like they decide and then let it go completely.
In a strange kind of way, they've led me to care for myself more. In hearing their needs, I also hear my own. In forgiving their nasty and angry moments, I forgive my own too. I think most of all what I've learned is to value what's most important. It's to value the love and connection between people because, no matter how grim things appear to be, that can never be lost. It can be forgotten, but never, ever lost.
So that's the part of the journey I'm on now. A bit of self-discovery with a dollop of self-forgiveness thrown in.
I hope to begin trading in a month or so, as I've managed to save a few hundred dollars over the last 9 months. I think I'm in a good frame of mind because just the other day as I was driving down the road, my hood suddenly flew off my car! With a fraction of a second it was gone to parts unknown (it happened so fast I couldn't even see where it went). Anyway, I just laughed and laughed all the way home. If that had happened a year ago I would've freaked out for sure! I definitely would've been angry at the very least.
Given that, I think I'm able to take a loss or two.
