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Trading Made Simple(r)

  • #2,701
  • Aug 11, 2019 1:44am Aug 11, 2019 1:44am
Quoting DrDave
{quote} Yes, at least the way that I would trade it. Remember, the Daily is lagging the H4. So the Daily stochs turning up is CREATED by the H1 price bars marching up; check the chart yourself. Then what happened? Red bars marching down! But wait, how can that be if Daily shows stochs pointing up? Because the Daily is LAGGING the H4. Plus, it takes 6 H4 candles to make 1 Daily candle, so the nice down bars on H4 are "absorbed" into a single candle on D1. So IF you are thinking about selling the H4 when the next bar opens if it has a continuation...
Very interesting.. going to do a bit of work on this tonight.. rings true for me
  • #2,702
  • Edited 9:12am Aug 11, 2019 2:49am | Edited 9:12am
Quoting marcara
{quote} Here you have the indicators for MT5 (I am going to change): {file}{file}{file}{file} I am looking for something similar to the cave manager for MT5. And It will be lovely to have the Swingmag dashboard.

HMA Color with Alert MT5

this version has alert when the HMA changes color.

remember to change the period to 12 and also to wait for the HMA to cross the 5EMA and the setup APB/HA candle.

you can also download this MT5 version from the MQL5 Market here, its free.

https://www.mql5.com/en/market/product/27341
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,703
  • Aug 11, 2019 6:23am Aug 11, 2019 6:23am
Can someone share settings for THV Cavemanager for H4 and Daily timeframes?
  • #2,704
  • Edited 7:11am Aug 11, 2019 6:53am | Edited 7:11am
Hi

If it is OK I would like to post a few charts with the places I think that trades are indicated marked on them. So I can better learn if I am seeing them correctly.

Please could the more experienced people here tell me where I have them right, wrong, and where I have missed them altogether. I would obviously also appreciate the whys where I have made mistakes!

Please ignore the actual pairs, they aren't necessarily ones I would plan to trade on. I'm just looking at random pairs for this exercise only.

I won't post loads, just 3 or 4. Here is the first one. I'll also make notes about setups that appear to be valid, but with concerns that may stop me taking them.
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  • #2,705
  • Aug 11, 2019 6:59am Aug 11, 2019 6:59am
Another one.
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  • #2,706
  • Aug 11, 2019 7:11am Aug 11, 2019 7:11am
Last one.
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  • #2,707
  • Aug 11, 2019 8:34am Aug 11, 2019 8:34am
Quoting itsDavid
Hi If it is OK I would like to post a few charts with the places I think that trades are indicated marked on them. So I can better learn if I am seeing them correctly. Please could the more experienced people here tell me where I have them right, wrong, and where I have missed them altogether. I would obviously also appreciate the whys where I have made mistakes! Please ignore the actual pairs, they aren't necessarily ones I would plan to trade on. I'm just looking at random pairs for this exercise only. I won't post loads, just 3 or 4. Here is...
this is very good exercise

but I have one question, why do you place the RSI(14) in a separate window below the two Stoch(8,3,3) and (14,3,3)?

instead of doing this exercise on static chart why not run it using the MT4 strategy tester and observe the price movements and the same time learn how each of the 7 indicators respond to the price. you can while running in strategy tester take trades and practice your trade management following each price bar/candle.

use RH template#1 and save that giving it a filename 'tester'.
this will load when you start your MT4 strategy tester.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,708
  • Aug 11, 2019 9:18am Aug 11, 2019 9:18am
Just for some fun I ran strategy tester using EU H4 price data Jan 01 to Aug 9 2019 and got this result.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,709
  • Aug 11, 2019 9:25am Aug 11, 2019 9:25am
Quoting emmanuel7788
{quote} this is very good exercise but I have one question, why do you place the RSI(14) in a separate window below the two Stoch(8,3,3) and (14,3,3)? instead of doing this exercise on static chart why not run it using the MT4 strategy tester and observe the price movements and the same time learn how each of the 7 indicators respond to the price. you can while running in strategy tester take trades and practice your trade management following each price bar/candle. use RH template#1 and save that giving it a filename 'tester'....
Excellent idea, Thank you. I will look at strategy tester today.

As for that window, no special reason, I just find it visually easier than having the RSI on the same window as the stochastics. With them together I find that I can't tell which line is which and things start to get blurry. I'm quite colourblind, which is probably why that happens.
  • #2,710
  • Edited 9:47am Aug 11, 2019 9:32am | Edited 9:47am
Another fun run using strategy tester and this is what happens when you trade without stop loss...

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and this group#6 pair I like very much ... [attach]

sgd 12-08-2019 00-34-37.png;3410082[/attach]
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,711
  • Edited 9:47am Aug 11, 2019 9:34am | Edited 9:47am
Quoting itsDavid
{quote} Excellent idea, Thank you. I will look at strategy tester today. As for that window, no special reason, I just find it visually easier than having the RSI on the same window as the stochastics. With them together I find that I can't tell which line is which and things start to get blurry. I'm quite colourblind, which is probably why that happens.
you can also consider using a MT4 trading simulator like this one by FX Blue

https://www.fxblue.com/appstore/39/m...ding-simulator
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,712
  • Aug 11, 2019 9:37am Aug 11, 2019 9:37am
Quoting itsDavid
{quote} Excellent idea, Thank you. I will look at strategy tester today. As for that window, no special reason, I just find it visually easier than having the RSI on the same window as the stochastics. With them together I find that I can't tell which line is which and things start to get blurry. I'm quite colourblind, which is probably why that happens.
I can recommend the TMMS oscillator from swingman for visual confirmation. The spoof is using this as a standalone trading system with good results.
  • #2,713
  • Aug 11, 2019 9:49am Aug 11, 2019 9:49am
Quoting 40PipsAlan
{quote} I can recommend the TMMS oscillator from swingman for visual confirmation. The spoof is using this as a standalone trading system with good results.
Yes it does take the guess work out of the crossing over the purple 50 line .. the Tms oscillator is clear as daylight , only take when bar is solid red or green , NOT grey
  • #2,714
  • Edited 10:56am Aug 11, 2019 10:20am | Edited 10:56am
Quoting 40PipsAlan
{quote} I can recommend the TMMS oscillator from swingman for visual confirmation. The spoof is using this as a standalone trading system with good results.
I have visited spoof's thread too. But traders trading with RH method here is facing less SL.
  • #2,715
  • Aug 11, 2019 10:25am Aug 11, 2019 10:25am
Quoting 40PipsAlan
{quote} I can recommend the TMMS oscillator from swingman for visual confirmation. The spoof is using this as a standalone trading system with good results.
I actually had that on my charts until I started these exercises. The reason I removed it is I want to practice with the strategy 'as described' first, before adding any addition indis.
  • #2,716
  • Aug 11, 2019 10:28am Aug 11, 2019 10:28am
Would you consider the Swingman occilator a replacement for other indis, or a backup for additional confirmation? For example replacing RSI entirely with the Swingman occilator ?
  • #2,717
  • Edited 10:50am Aug 11, 2019 10:36am | Edited 10:50am
Quoting 40PipsAlan
{quote} I can recommend the TMMS oscillator from swingman for visual confirmation. The spoof is using this as a standalone trading system with good results.
Of course that can be used, but it effectively filters out useful information--well, useful to me, anyway, but maybe not useful to others. I am interested in seeing how far away the stoch lines get from 0 as well as the slope. That is gone when there is a signal that just shows state: "ALL TMMS indicators in GO state" or "At least 1 TMMS indicator not in GO state."

Example: ALL indicators on the chart except for stoch16 are GO, but stoch16 is almost touching 50. I most likely would take that trade. Using TMMS indicator, no chance to have a GO signal, so no trade there.

But everyone can practice taking trades with and without the TMMS and decide for himself which indicators to use.
To free Gazans of Hamas, use whatever it takes.
  • #2,718
  • Aug 11, 2019 10:40am Aug 11, 2019 10:40am
Quoting itsDavid
Would you consider the Swingman occilator a replacement for other indis, or a backup for additional confirmation? For example replacing RSI entirely with the Swingman occilator ?
I recommend that you investigate what the Swingman oscillator is doing so that you can decide from your personal experience if it is both easier to find proper signals and not detrimental to your net profit if you change from one method to the other.

THe TMMS is combining several indicator states into a single visual output, so it by definition cannot be giving additional confirmation; it is giving redundant information.
To free Gazans of Hamas, use whatever it takes.
  • #2,719
  • Aug 11, 2019 10:44am Aug 11, 2019 10:44am
Quoting DrDave
{quote} I recommend that you investigate what the Swingman oscillator is doing so that you can decide from your personal experience if it is both easier to find proper signals and not detrimental to your net profit if you change from one method to the other. THe TMMS is combining several indicator states into a single visual output, so it by definition cannot be giving additional confirmation; it is giving redundant information.
That's a good idea and a useful approach. I'll try a couple of test runs, with one, the other, and then both, and see what suits me personally.
  • #2,720
  • Aug 11, 2019 11:01am Aug 11, 2019 11:01am
Quoting DrDave
{quote} Of course that can be used, but it effectively filters out useful information--well, useful to me, anyway, but maybe not useful to others. I am interested in seeing how far away the stoch lines get from 0 as well as the slope. That is gone when there is a signal that just shows state: "ALL TMMS indicators in GO state" or "At least 1 TMMS indicator not in GO state." Example: ALL indicators on the chart except for stoch16 are GO, but stoch16 is almost touching 50. I most likely would take that trade. Using TMMS indicator, no chance to have...
I tend to agree with Dave. The TMMS osc is the last thing I look at after all the others and having it confirm any pending trade is a bonus. I took valid trades last week based on the TMMS and got SL due to the heavy consolidation on lots of pairs.
The more confidence I get with my trades will see the TMMS removed totally.
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