Turbo's Murry Math

Here it is on the MT4 platform

this is what mine is looking like

Interesting! I need to tweak a bit! Is the +1/8 an auto short or indication for long. This cat was in Denver doing a seminar last month- I missed it

well mine is 5min i see you have 1h

didn't change much on a 5 min chart.

I don't even know what to tell ya cause I don't use MT

Gonna read your pdf today- chat back at you later! Expat in Costa Rica??
Involved with gaming down there~???

No gaming for me.. Its all being shut down any who...

Here you go fingo

I didn't know that- lots of $$ has been made there

Thanks

The US passing all new laws... Bet on Sports was the largest and they just shut there doors a few months ago

Turbo, in the example you posted above are you looking to go short when price touches the 8/8 line, or are you looking for something additional to confirm entry?

Yes Im looking for the price to be around 00,20,50,80 figures w/ the over sold/bough MM levels

The over sold/bought MM levels are my warning tracks to start to look for a trade. I have alerts set on mine so that once the 7/8 or 1/8 is touched I no to keep a look out.

This is a good explanation to what the various levels mean - hope it helps

According to Gann, prices move in 1/8ths, these 1/8th’s act as points of price support and resistance as an entity’s price changes in time. Given this 1/8th characteristic of price action, Murrey assigns properties to each of the MML’s in a given octave. These properties are listed here:


8/8th’s and 0/8th’s Lines (ultimate resistance)
These lines are the hardest to penetrate on the way up, and give the greatest support on the way down. (Prices may never make it through these lines).


7/8th’s Line (weak, stall and reverse).
This line is weak. If prices run up too far too fast, and if they stall at this line they will reverse down fast. If prices do not stall at this line they will move up to the 8/8th’s line.


6/8th’s and 2/8th’s lines (Pivot, Reverse)
These two lines are second only to the 4/8th’s line in their ability to force prices to reverse. This is true whether prices are moving up or down.


5/8th’s line (Top of Trading Range).
The prices of all entities will spend 40% of the time moving between the 5/8th’s and 3/8th’s lines. If prices move above the 5/8th’s line and stay above it for 10 to 12 days the entity is said to be selling at a premium to what one wants to pay for it and prices will tend to stay above this line in the ‘premium area’. If however, prices fall below the 5/8th’s line then they will tend to fall further looking for support at a lower level.


4/8th’s line (Major support/resistance)
This line provides the greatest amount of support and resistance. This line has the greatest support when prices are above it and the greatest resistance when prices are below it. This price level is the best level to sell and buy against

3/8th’s line (Bottom of Trading Range)
If prices are below this line and moving upwards, this line is difficult to penetrate. If prices penetrate above this line and stay above this line for 10 to 12 days then prices will stay above this line and spend 40% of the time moving between this line and the 5/8th’s line.

1/8th’s line (Weak, stall and Reverse)
This line is weak. If prices run down too far too fast, and if they stall at this line they will reverse up fast. If prices do not stall at this line they will move down to the 0/8th’s line.

I was trying to do something similar recently on the 5 mins charts, looking for divergences as the price reached the 0/8, 8/8 lines and then entering off price action confirmation as the trend started to reverse.

The problem was, that when the market was trending in that direction it would often hesitate at those levels, start to reverse, and then carry on straight through. I was using the 64 setting, however, so i'll have to take a look at the 128 setting at the 00,20,50,80 levels as you suggest.

Cheers

Hi,

Where can i get Murry Math MT4 Indicator?
Thanks.

QS.

here you go:

Thanks summit.

What is the original setting for P? 64 or 128?