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Trading the Cable swings via averages

  • #21
  • Nov 19, 2018 5:19pm Nov 19, 2018 5:19pm
Quoting Goyatrade
Congrats! Subscribed and curious! Am also studying your Quartile method to supplement my own Cable trading! Appreciated!
Cool you will find later down the track you can use the Quartile to trade this way and also another type of Quartile which I will also explain.
  • #22
  • Nov 19, 2018 5:20pm Nov 19, 2018 5:20pm
Quoting vmelnikov
Interesting, I'm in.
No worries...welcome
  • #23
  • Edited 5:55pm Nov 19, 2018 5:22pm | Edited 5:55pm
Quoting matthew89
Hi Nala66, i dont want to sound impatient! But are you going to go into detail about the rules surrounding your strategy? i.e Entry, Exit, TP and SL?
Yes I am... Entry exit and target so you know precisely how much to make (money management section)
  • #24
  • Nov 19, 2018 5:54pm Nov 19, 2018 5:54pm
Ok so yesterday we set up the white background 5 min chart and normally that is all I have on that chart. However I have 4 23 inch monitors so I can spread myself out a bit, I know some use laptops with smaller screens so for now I am going to add a little more to cater for those folks.

This involves the timing of the trade, the approximate time I start work and I call it Bar 108.

Switch on your Period Separator and measure 108 bars from it with the rectangle tool. Copy the rectangle and place the copy at the next Period Separator.
Now using the Cycle line tool span the two rectangles to give you lines that will continue into the future forever.

On the chart below I have used bold black so you can see them clearly, normally I would have them just as a light coloured (grey) dotted line just like the Period Separator ones.

As you should be able to see, this is a good time to begin trading, approximately.

Once done you can turn off the Period Separator Lines as they are no longer required.

So you should have this ...
Attached Image (click to enlarge)
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  • #25
  • Nov 19, 2018 5:54pm Nov 19, 2018 5:54pm
hello Alan
Thanks for opening this thread
I have followed you in other thread and I am very interested in this strategy of swings via averages
  • #26
  • Nov 19, 2018 6:15pm Nov 19, 2018 6:15pm
Now on this chart I mark the swing highs and lows with a line and just for your benefit I have put a few X's where the price exhausted itself. I know you cannot see this exhaustion as yet because we haven't setup the other charts but still you can make some observations even on this chart alone. I will go into detail of these observations later, for now just continue with the setups.

Note how you can barely see my cycle lines now.
Attached Image (click to enlarge)
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  • #27
  • Nov 19, 2018 6:47pm Nov 19, 2018 6:47pm
Now we are going to add the Wilders wonder tool, the Relative Strength Index (RSI). In fact we are going to use two of them.

A word about comparisons...

When making comparisons I compare average swing to average swing, never comparing price to average. Zig-zagging an average or bouncing is fairy meaningless because the average is always chasing the price NOT THE OTHER WAY ROUND.

In the same way I compare RSI to RSI as you will later see it gives us a very good insight for the next move of price.

I know this may sound confusing but hang on there it should all become clear and simple to understand.

OK back to adding the RSI's again I will put them on this 5 min chart for your benefit, mine are on a separate chart.

So setup a 14 period RSI with the levels of 80 and 20 only and the colour being a solid black line, like this...
Attached Image (click to enlarge)
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  • #28
  • Nov 19, 2018 6:54pm Nov 19, 2018 6:54pm
Next we are going to overlay a 5 period Relative Strength Index the 14 period

These are the settings for this, noting it is applied to the Previous Indicators Data
Attached Image (click to enlarge)
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  • #29
  • Nov 19, 2018 6:57pm Nov 19, 2018 6:57pm
Now you should have what looks like a complete mess when squashed up like this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB
  • #30
  • Nov 19, 2018 7:23pm Nov 19, 2018 7:23pm
OK lets now get a bit of colour in our lives and setup the other charts and you can make these as pretty as you like but keep them free of clutter, you don't need any additional stuff which may just confuse the issue.

I have all the GBP/USD from the 1 minute through to the 1 month.

We only need to set up one chart and make a template of it to set the additional charts. Give the template a name you can recognise such as Antegentacularcircumgirations or BaBs which is Bull and Bear system.

The same as we used to setup the 5 min but with a background that is not so harsh on the eyes. Notice how I use the bar chart because really I am only interested in tops and bottoms and also note I have a white line chart which is simply a 1 period SMA set to the close. My 26EMA is coloured but it does not have to be so.
Attached Image (click to enlarge)
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  • #31
  • Nov 19, 2018 7:25pm Nov 19, 2018 7:25pm
OK that should give you enough work for the day.

Tomorrow we still start to make observations.

Any questions...
  • #32
  • Nov 19, 2018 7:59pm Nov 19, 2018 7:59pm
can you post the template, I can't get my chart look that good.

Thanks
  • #33
  • Nov 19, 2018 8:15pm Nov 19, 2018 8:15pm
Quoting Munizdivisas
can you post the template, I can't get my chart look that good. Thanks
Sure, but to look like mine you will need to plug in the colour EMA
Attached File(s)
File Type: ex4 #MA_in_Color.ex4   12 KB | 3,890 downloads
File Type: tpl My Night Template.tpl   16 KB | 3,828 downloads
File Type: tpl My Bright Template.tpl   2 KB | 3,523 downloads
  • #34
  • Nov 19, 2018 8:27pm Nov 19, 2018 8:27pm
Oh and I also have a spread indicator, top left corner of the Night template
Attached File(s)
File Type: ex4 SpreadIndicator.ex4   7 KB | 2,140 downloads
File Type: mq4 SpreadIndicator.mq4   1 KB | 2,369 downloads
  • #35
  • Nov 19, 2018 8:42pm Nov 19, 2018 8:42pm
This is all the charts squashed onto one screen...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 153 KB
  • #36
  • Nov 19, 2018 10:32pm Nov 19, 2018 10:32pm
Quoting Nala66
Ok so yesterday we set up the white background 5 min chart and normally that is all I have on that chart. However I have 4 23 inch monitors so I can spread myself out a bit, I know some use laptops with smaller screens so for now I am going to add a little more to cater for those folks. This involves the timing of the trade, the approximate time I start work and I call it Bar 108. Switch on your Period Separator and measure 108 bars from it with the rectangle tool. Copy the rectangle and place the copy at the next Period Separator. Now using the...

hi nala66,

thanks for the thread..
my question is, how to measure/count 108 bars?...

thank you!

EDIT: template downloaded!
Money is made by sitting, not trading. Jesse L. Livermore
  • #37
  • Nov 19, 2018 11:16pm Nov 19, 2018 11:16pm
Quoting sam69
{quote} hi nala66, thanks for the thread.. my question is, how to measure/count 108 bars?... thank you! EDIT: template downloaded!
That is very simple.

As you drag the box sideways it tells you the width in bars and the height in pips just where your cursor is.
  • #38
  • Nov 20, 2018 12:49am Nov 20, 2018 12:49am
The Global Prime Broker is a vertical line at 7:00 GMT. Is that right?
Please excuse the bad English via Google Translate.
  • #39
  • Nov 20, 2018 12:53am Nov 20, 2018 12:53am
Quoting dokopy
The Global Prime Broker is a vertical line at 7:00 GMT. Is that right?
Well mine says 00:00 via the chart time and my cycle lines are at 09:00 chart time so that is 7am GMT
  • #40
  • Nov 20, 2018 3:09am Nov 20, 2018 3:09am
Thank you for your hard work Nala66, with your Template, my charts now look completely like yours. Waiting for your next lesson tomorrow.
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