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(binned per thread starter’s request) MM (Money Maker) Detective

  • #901
  • May 6, 2019 11:16pm May 6, 2019 11:16pm
Quoting Robot Trader
Simple Trading Strategy when using MM Detective with TMA and Divergence I have attached a template which goes back to August 2018 and needs loading on H1 AUDUSD (you may need to go to MT4 History Centre to down load more history if all the trades aren't shown) I have attached a screenshot of the first Trade, so you can see what information the template should show you, however the template was produced using my brokers server time so candles might close differently based on your brokers time. The trades have lines and text giving information of...
@Robot Trader -- what can I say? Wow!!! Using MM Detective with @SwingMan's algorithm's for detecting target levels, combined with your other indicators, is the kind of stuff I really eat up.

Sharing your template and uploading the other indicators -- you're making it too easy. I'm going to enjoy playing with this. @Robot Trader -- thank you very much.
  • #902
  • May 6, 2019 11:32pm May 6, 2019 11:32pm
Quoting Robot Trader
Simple Trading Strategy when using MM Detective with TMA and Divergence I have attached a template which goes back to August 2018 and needs loading on H1 AUDUSD (you may need to go to MT4 History Centre to down load more history if all the trades aren't shown) I have attached a screenshot of the first Trade, so you can see what information the template should show you, however the template was produced using my brokers server time so candles might close differently based on your brokers time. The trades have lines and text giving information of...
@Robot Trader -- a follow-up comment and question(s).

I like your use of the center band -- until now I've had mixed feelings about how / whether to use it.

The version of the TMA you are using is a repainter. I've used it in the past and sometimes now. I've tested it with MT4's Strategy Tester and no doubt it repaints -- "trust me" Repainting isn't good but, also, not necessarily bad if one is aware and know how to make use of the indicator's strengths to overcome that drawback. So -- are you aware that it repaints and, if so, have found that not to be a limitation? Also, have you also experimented using the non-repainting version -- i.e. the TMATrue indicator?
  • #903
  • May 7, 2019 12:18am May 7, 2019 12:18am
Quoting robots4me
{quote} @Robot Trader -- a follow-up comment and question(s). I like your use of the center band -- until now I've had mixed feelings about how / whether to use it. The version of the TMA you are using is a repainter. I've used it in the past and sometimes now. I've tested it with MT4's Strategy Tester and no doubt it repaints -- "trust me" Repainting isn't good but, also, not necessarily bad if one is aware and know how to make use of the indicator's strengths to overcome that drawback. So -- are you aware that it repaints and, if so, have...
There are 3 possible confirmations to the Strategy, where two out of the 3 should be good enough.

MM Detective
TMA Bands
Divergence

By waiting for the candle to close below or above the TMA Bands MAY help eliminate some of the repainting issues, but please try TMATrue with the same settings (if possible) and see how the EP would have been effected.
Some people say I'm lucky, but the more I practice the luckier I get
  • #904
  • May 7, 2019 12:34am May 7, 2019 12:34am
Quoting Robot Trader
{quote} There are 3 possible confirmations to the Strategy, where two out of the 3 should be good enough. MM Detective TMA Bands Divergence By waiting for the candle to close below or above the TMA Bands MAY help eliminate some of the repainting issues, but please try TMATrue with the same settings (if possible) and see how the EP would have been effected.
@Robot Trader -- got it. Thank you.
  • #905
  • May 7, 2019 1:37am May 7, 2019 1:37am
I’m interested in ADR and the best way to keep track of it. What’s the best Indy for that? Maybe in a customisable dashboard?

Also in terms of statistics I’ve read that in 80% of cases, a pair will reach 75% of its ADR - is anyone familiar with that statistic or on whose work it is based? it’s one of those things said - a bit like 80% of the time price will hit the median line of a pitchfork.

Ray
  • #906
  • May 7, 2019 1:49am May 7, 2019 1:49am
Quoting TopCover
I’m interested in ADR and the best way to keep track of it. What’s the best Indy for that? Maybe in a customisable dashboard? Also in terms of statistics I’ve read that in 80% of cases, a pair will reach 75% of its ADR - is anyone familiar with that statistic or on whose work it is based? it’s one of those things said - a bit like 80% of the time price will hit the median line of a pitchfork. Ray
Hey Ray -- below are a couple I've used in the past, but I'm not sure how they compare to others. I've heard ADR tossed around as one of the things to consider when deciding whether to open a trade -- but I'm not sure exactly how I would use it. Also, I don't keep track of session times. Not that they aren't important -- just too much information. I mean, if it were to double the win ratio -- then, sure. But if it only improves performance by a few percent, then I'm not sure the additional complexity is worth it.

With regards to the price hitting the median line of a pitchfork -- could you share a picture of that. I don't understand what that means, but it sounds interesting. Thanks...

Attached File(s)
File Type: ex4 ADR.ex4   23 KB | 265 downloads

Attached File(s)
File Type: mq4 ADR.mq4   18 KB | 292 downloads

Attached File(s)
File Type: ex4 Average Daily Range - V3.10.ex4   21 KB | 320 downloads
  • #907
  • May 7, 2019 1:58am May 7, 2019 1:58am
@robots4me - don't know if you're aware of this old thread .................

https://www.forexfactory.com/showthread.php?t=681478
  • #908
  • May 7, 2019 2:00am May 7, 2019 2:00am
Quoting robots4me
{quote} Hey Ray -- below are a couple I've used in the past, but I'm not sure how they compare to others. I've heard ADR tossed around as one of the things to consider when deciding whether to open a trade -- but I'm not sure exactly how I would use it. Also, I don't keep track of session times. Not that they aren't important -- just too much information. I mean, if it were to double the win ratio -- then, sure. But if it only improves performance by a few percent, then I'm not sure the additional complexity is worth it. With regards to the price...
Thanks R4me - ah yes pitchforking....Dr Andrews. Interesting phenomenon though like all these concepts it has gathered a following who have added loads of additional rules and finesses. But yes basically in 80% of the time price will move back to the median line when a pitchfork is drawn connecting alternate peaks. The tool is right there on MT4.

Ray
Attached Image (click to enlarge)
Click to Enlarge Name: 58F100E2-0E8F-4646-999A-A8326E210772.jpeg Size: 380 KB
  • #909
  • May 7, 2019 2:06am May 7, 2019 2:06am
Quoting robots4me
{quote} Hey Ray -- below are a couple I've used in the past, but I'm not sure how they compare to others. I've heard ADR tossed around as one of the things to consider when deciding whether to open a trade -- but I'm not sure exactly how I would use it. Also, I don't keep track of session times. Not that they aren't important -- just too much information. I mean, if it were to double the win ratio -- then, sure. But if it only improves performance by a few percent, then I'm not sure the additional complexity is worth it. With regards to the price...
Regarding ADR if you’re planning a herd trade and wondering about the target level (to enter) , progress of price against ADR for that pair so far that day will indicate the feasibility of price reaching the entry level etc

Ray
  • #910
  • May 7, 2019 2:07am May 7, 2019 2:07am
Quoting robots4me
{quote} Hey Ray -- below are a couple I've used in the past, but I'm not sure how they compare to others. I've heard ADR tossed around as one of the things to consider when deciding whether to open a trade -- but I'm not sure exactly how I would use it. Also, I don't keep track of session times. Not that they aren't important -- just too much information. I mean, if it were to double the win ratio -- then, sure. But if it only improves performance by a few percent, then I'm not sure the additional complexity is worth it. With regards to the price...

George has often mentioned that he keeps in mind how much pips are on the table for the session/day. For me personally, I attach a lot of value in the ADR.

a direct quote from him:

Quote
HOW many pips on the table already when the run happens ,,,,
What TIME of the day the run is starting ,,,,
Which SESSION is the run happening ,,,
What is the ADR of that pair ,,,,
What is the momentum on the 15 mnt ,,, 1 hour ,,, 4 hour ,, daily ,,,
Are they APPROVING the move in the form of momentum on a particular TF ,,
Is any of the higher TF's contradicting the move ,,,,, ( the BEST SETUPS WHEN THEY DO ) ,, that is why i have moving averages on my charts ,, ONLY FOR THAT PURPOSE ,, MOMENTUM INDICATOR ,, THATS ALL ) ,,,
  • #911
  • May 7, 2019 2:08am May 7, 2019 2:08am
Attached Image (click to enlarge)
Click to Enlarge Name: ROBOT TRADER VTL AND ACTION SIGNALS.png Size: 2.7 MB
  • #912
  • May 7, 2019 2:10am May 7, 2019 2:10am
Quoting LongBTC
{quote} George has often mentioned that he keeps in mind how much pips are on the table for the session/day. For me personally, I attach a lot of value in the ADR. a direct quote from him: {quote}
Thanks Long - that’s it - one of those “disregard at your peril” aspects thanks!

R
  • #913
  • May 7, 2019 2:11am May 7, 2019 2:11am
Quoting handy148
@robots4me - don't know if you're aware of this old thread ...
@handy148 -- no, I wasn't aware. Very interesting -- sort of looks familiar

I'm going to check it out now. Thank you.
  • #914
  • May 7, 2019 2:16am May 7, 2019 2:16am
Quoting TopCover
I hope this isn't taken as defacing a work or art.... apologies if this is the case. In my humble opinion this is the message of 2407. So.... when we're wondering where price is going and where it MIGHT turn (as George says we can't tell the market what to do) then....with the TMAs lining up we can kick off our trade. But remember to print off George's "filters" {image}
lol George liked this overnight but I got up to pee and his like was gone..

He must have fumble fingers..
  • #915
  • May 7, 2019 2:17am May 7, 2019 2:17am
Quoting TopCover
{quote} Thanks R4me - ah yes pitchforking....Dr Andrews. Interesting phenomenon though like all these concepts it has gathered a following who have added loads of additional rules and finesses. But yes basically in 80% of the time price will move back to the median line when a pitchfork is drawn connecting alternate peaks. The tool is right there on MT4. Ray {image}
Thanks, Ray. I never used it. Now I'm curious...
  • #916
  • May 7, 2019 2:21am May 7, 2019 2:21am
Attached Image (click to enlarge)
Click to Enlarge Name: ROBOT TRADER BUYING ACTION SIGNALS CENTERED TMA.png Size: 2.7 MB
  • #917
  • May 7, 2019 2:28am May 7, 2019 2:28am
Attached Image (click to enlarge)
Click to Enlarge Name: ROBOT TRADER SELLING ACTION SIGNALS CENTERED TMA.png Size: 2.7 MB
  • #918
  • May 7, 2019 2:48am May 7, 2019 2:48am
Quoting robots4me
{quote} @handy148 -- no, I wasn't aware. Very interesting -- sort of looks familiar I'm going to check it out now. Thank you.
@handy148 -- I've taken a closer look at it. It's essentially the FastTMA (repainting version) that also marks bearish candles that peak above the upper TMA line and bullish candles that poke below. The support / resistance indicator isn't necessary. Also, there's an FFCal indicator that tries to reach the Internet. Plus, there's another indicator that forces you to go to a web site to update. I mean, I got it to work, but without target level lines (TOPS and BOTTOMS) then I lost interest.

No doubt other indicators can be combined with MM Detective to refine or filter the results, but @SwingMan's use of higher level fractals to identify TOPS and BOTTOMS is what makes the difference.
  • #919
  • May 7, 2019 2:58am May 7, 2019 2:58am
I think today’s GBPJPY could grind down to 144.000 ish - caution required.
  • #920
  • May 7, 2019 3:10am May 7, 2019 3:10am
Quoting TopCover
{quote} Regarding ADR if you’re planning a herd trade and wondering about the target level (to enter) , progress of price against ADR for that pair so far that day will indicate the feasibility of price reaching the entry level etc Ray
Quoting LongBTC
{quote} George has often mentioned that he keeps in mind how much pips are on the table for the session/day. For me personally, I attach a lot of value in the ADR. a direct quote from him: {quote}
I think I get it -- sort of. But when you refer to "the feasibility" or "pips on the table" then I begin to roll my eyes, as my daughter often does when I give her advice.

Most systems operate within a range -- e.g. your average body temperature is 98.6 F. There will be fluctuations and even spikes (e.g. when you run a fever), but it always returns to an average operating range. There is nothing magical about it and for every system this behavior can be explained.

In the case of forex, the ADR is sort of like your body temperature in that the delta between the high and low roughly remains constant. But it differs from body temperature in that the range's offset can be all over the place, even when the delta between high and low remains roughly the same. I just find it difficult to imagine the MM honoring some range as if it were afraid to broach some arbitrary limit. What I am more inclined to believe is that the MM is content manipulating prices within a certain range just to make things look normal as it lures traders in and then, regardless of where the price is at in terms of the ADR, the MM will make a grab for a bucket of cash. It just doesn't make sense to me why it would feel compelled to stay within some arbitrary range when making a grab for accumulated stops.

I do think there is probably an economic basis to each symbol's ADR -- that is, there is a natural range that it likes to operate in and which it will return to after a perturbation. Just like your body's temperature will eventually return to 98.6F after you recover from a fever.

I don't know -- just felt like blowing smoke...
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