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Roadmap - A Way To Read Markets

  • #2,441
  • Jun 14, 2020 4:32pm Jun 14, 2020 4:32pm
I like to keep my chartwindow as clean as possible so I want to share with you 2 indicators that can go in one of the subwindows below the chartwindow.

The first is a “Symbol Changer” written by Luxmod. It allows you to quickly & easily switch between currency pairs and timeframes & best of all, it's meant to go in a subwindow.

For the second one, I want to thank Indalico for sharing his “RoadMap Trend Band”. He posted it here on this thread (Post 2218) a couple of weeks ago. It combines the RSI Strength and the Trend Band into a single indicator. I made some small modifications to the code that allows you to place this indicator in a subwindow. At the bottom of the input screen, you'll see the “Select Window” option. If you select “0”, the indicator will be displayed in the chartwindow, “1” for the first subwindow, etc. Hope this helps.
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Attached File(s)
File Type: mq4 Symbol Changer_Luxmod.mq4   6 KB | 527 downloads
File Type: mq4 RoadMap Trend Band_SubWindow.mq4   13 KB | 672 downloads
  • #2,442
  • Jun 15, 2020 1:08am Jun 15, 2020 1:08am
Some mornings, the work is done almost as soon as it began.

Was barely awake when I spotted that Dow had decisively broken the previous day low. Waited for retracements and got into a position. Took profit and got in again. Total profit 263 points.

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  • #2,443
  • Jun 15, 2020 3:22am Jun 15, 2020 3:22am
again, if u have a strong trend, the price just dips the 8ema band:
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trading is like dancing, don't think and just listen to the music!
  • #2,444
  • Jun 15, 2020 4:20am Jun 15, 2020 4:20am
Gold M1 from Friday late , price played around 200sma in mild DD, but was making lower lows ,while there was resistance at the highs that failed to break.
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  • #2,445
  • Edited 7:28am Jun 15, 2020 6:52am | Edited 7:28am
Slowly but surely.

I entered the following trade using laptop but then transferred my trendlines analysis to my mobile mt4 to accomodate movement. I still follow Lauras rules. I always watch price in relationship with 8 ema channel to validate continuity if my trade is already profitable. Closed this trade on that pointed candle because price moved to fast and I anticipated a move backwards. Luckily I was correct. Went out on profit. Only now do I notice that my exit was on yesterdays Low. Since price has been rising.
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  • #2,446
  • Edited 10:00am Jun 15, 2020 9:23am | Edited 10:00am
Tried trading this on time chart today

Aiming for ADR high and would close trade if price crosses my trendline to the downside. The SL is there just for safety.

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EDIT: When price touched my trendline I decided to turn trade into bullet trades, added one more position.

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Read in between the price!!!
  • #2,447
  • Jun 15, 2020 10:02am Jun 15, 2020 10:02am
Quoting LauraT
Some mornings, the work is done almost as soon as it began. Was barely awake when I spotted that Dow had decisively broken the previous day low. Waited for retracements and got into a position. Took profit and got in again. Total profit 263 points. {image}
Nasdaq not too bad today. Should I stay or should I go ( 29 minutes of my shift left )
Looking for long now.

EDIT: Fool ! - Duh. Should have noticed higher highs and closeness of 200ma. Just because I broke the it once for a short does not mean I should push my luck. Where the first 'X' is shown is where I should not have gone long but I failed to notice it until after I put the trade on.

Edit Edit. Price bounced off 200 16:06pm UK time
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every Saint has a past. Every Sinner has a Future
  • #2,448
  • Jun 15, 2020 10:08am Jun 15, 2020 10:08am
Quoting turnip15
{quote} Nasdaq not too bad today. Should I stay or should I go ( 29 minutes of my shift left ) Looking for long now. EDIT: Fool ! - Duh. Should have noticed higher highs and closeness of 200ma. Just because I broke the it once for a short does not mean I should push my luck. Where the first 'X' is shown is where I should not have gone long but I failed to notice it until after I put the trade on. Edit Edit. Price bounced off 200 16:06pm UK time {image}
Holding a 20 pip long profit -not risking it now - look left, near last high
every Saint has a past. Every Sinner has a Future
  • #2,449
  • Jun 15, 2020 10:15am Jun 15, 2020 10:15am
Quoting turnip15
{quote} Holding a 20 pip long profit -not risking it now - look left, near last high
Out - I can draw a line right across the left when zooming out - not risking me few pennies - see you all tomorrow.
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every Saint has a past. Every Sinner has a Future
  • #2,450
  • Jun 15, 2020 2:21pm Jun 15, 2020 2:21pm
Since no one else has posted anything for a while I thought I would post my Nasdaq chart to show what happens behind my back when I stop trading for the day/session
( usually two hours UK and US). Naughty price shot up above my marked levels and sneaked off without me.

EDIT: or I could learn to set Alarms to alert me to levels and have them 'Ding" me on my new Apple phone ( when I've worked out how to turn it on - grandson might help me)
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every Saint has a past. Every Sinner has a Future
  • #2,451
  • Jun 15, 2020 2:42pm Jun 15, 2020 2:42pm
Dow Trades for today - 2 win, 2 loss, 1 BE+1.
Was waiting for Long#4 to go further up when I thought it is losing momentum - I got out, but then after that it went for a long way up
Long #2 should had been at least 120+ points if I closed before it came down for BE+1. Overall a good day for 270 points nett, but could have managed better.
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  • #2,452
  • Jun 15, 2020 9:05pm Jun 15, 2020 9:05pm
So I just started studying FX a few weeks ago and just started using this system yesterday on a $10k demo account. In fact, this is the first trading system I've put into practice. Happy with the Day 1 results so far, looking forward to the grind of practice and honing my skills.
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  • #2,453
  • Jun 16, 2020 4:08am Jun 16, 2020 4:08am
OIL -the one loser could have been avoided if I had more patience and noticed the lower 'look left' line I had drawn.
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every Saint has a past. Every Sinner has a Future
  • #2,454
  • Jun 16, 2020 7:20am Jun 16, 2020 7:20am
Hi!! Started this week on demo account before work (:

Yesterday got Destroyeeed (4 losses)! I reviewed my mistakes, made adjustments and here the results (:.. Three wins for today!

USDJPY - Played exactly as planned, scaling out as TP were hit.
CADCHF - Hit the 1st TP (half position), but quickly turned against me, as soon as it broke the TL I closed the remaining breakeven.
US500 - Had a late entry because I was wating for the CompRSISelect to turn bullish, I closed the whole position just before my TP, because it was finding resistance. Looking in hindsight I could be more patient the next time, to grab the extrapips I was aiming for.

Any tips / suggestions are more than welcome!
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  • #2,455
  • Jun 16, 2020 9:08am Jun 16, 2020 9:08am
My First Trade after understand honorable master (Laura T) Training

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  • #2,456
  • Jun 16, 2020 10:00am Jun 16, 2020 10:00am
At last got a set up I felt confident to execute -bounce short off resistance. Had to wait a while for price to settle down. Patience pays.

EDIT 1600hrs - crikey - it took off :-)
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every Saint has a past. Every Sinner has a Future
  • #2,457
  • Jun 16, 2020 10:02am Jun 16, 2020 10:02am
Quoting turnip15
At last got a set up I felt confident to execute -bounce short off resistance. Had to wait a while for price to settle down. Patience pays. EDIT 1600hrs - crikey - it took off :-) {image}
May close around previous High.
every Saint has a past. Every Sinner has a Future
  • #2,458
  • Jun 16, 2020 10:02am Jun 16, 2020 10:02am
Well - done for the day. Back tomorrow.
every Saint has a past. Every Sinner has a Future
  • #2,459
  • Jun 16, 2020 10:20am Jun 16, 2020 10:20am
Well done turnip 15. For me, I took the short to the downside on the Dow after a bear shift candle formed closing below ADR high, could've waited for a better retrace for entry but anyways what happened on the Dow is every traders wet dream. Price went all the way to ADR low.

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Read in between the price!!!
  • #2,460
  • Jun 16, 2020 10:31am Jun 16, 2020 10:31am
Hi lostkiwi ,

I well received your PM .

We can speed up the signal using median price (High+Low)/2.

We cannot change the Low price by High price and vice versa.

Because it happens that: the High 8 Ema either above the High 200 Sma and at the same time the Low 8Ema is below Low 200 Sma.

Check V2 Version .

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Attached File(s)
File Type: ex4 SPH_Ema8_SMA200_Histo_MTF_AlarmV2.ex4   26 KB | 586 downloads
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