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Roadmap - A Way To Read Markets

  • #2,541
  • Jun 25, 2020 7:10am Jun 25, 2020 7:10am
Hi!

Breakeven day so far.. I still have one on DAX running risk free (:

CHFJPY (Buy), Result: Loss.. Channel Failure, all indicators green, CompRSISlect > 60, price was respecting TL1, and broke the TL2 signaling bulls momentum. I waited to price to close inside the channel and entered this sucker ): jajaj.

OILF (Sell), Result: Win: Channel Cross, all indicators aligned, CompRSISlect < 35, price was respecting TL1, entered inside the channel. It really was a pain to ride that trade and wait patiently to hit my 1st TP. When it did, I moved my SL of the 2nd half to secure almost all profits, hoping the strong move down will continue, but i didn't and took me out on retracement.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CHFJPYM1 - Exit - L.png Size: 50 KB
Click to Enlarge Name: XBRUSDM1 - Exit - W.png Size: 52 KB
  • #2,542
  • Jun 25, 2020 7:27am Jun 25, 2020 7:27am
Gold on M15
A bit aggressive in MM this one. But when it works,it works !
Frankly, I'm still calibrating these aspects and I could be a bit more prudent next time.
Also this was at yesterday Day low and it could have been bouncing from there.
But it didn't.
Attached Image (click to enlarge)
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  • #2,543
  • Jun 25, 2020 7:42am Jun 25, 2020 7:42am
Did you have fun on the Dax today boys and girls
See the levels and draw your own speed lines etc.
My Nasdaq followed a similar shaped graph as did some other instruments I believe ( not looked at currency)
EDIT : I posted the chart with 20 point gaps to fit it in the post. Usually I display Dax with 5 point increments.
Attached Image (click to enlarge)
Click to Enlarge Name: DAX2.png Size: 437 KB
every Saint has a past. Every Sinner has a Future
  • #2,544
  • Jun 25, 2020 10:39am Jun 25, 2020 10:39am
Quoting turnip15
Did you have fun on the Dax today boys and girls See the levels and draw your own speed lines etc. My Nasdaq followed a similar shaped graph as did some other instruments I believe ( not looked at currency) EDIT : I posted the chart with 20 point gaps to fit it in the post. Usually I display Dax with 5 point increments. {image}
I dont understand nothing. But very interesting
  • #2,545
  • Jun 25, 2020 11:04am Jun 25, 2020 11:04am
Took couple of trade, both hitting my SL. May be i took the wrong setup. The RSI and MA were all bullish (green). I cannot find the composite RSI, but all the time frame were bullish on the indicator i had, so assume it was bullish. The bullish sign is when both RSI and MA are bullish. I cannot find the LoHI ADR indicator, so that is missing in my setup for now.
Attached Image (click to enlarge)
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  • #2,546
  • Jun 25, 2020 11:28am Jun 25, 2020 11:28am
Quoting ficibald
{quote} I dont understand nothing. But very interesting
Start from Post ONE and keep reading
every Saint has a past. Every Sinner has a Future
  • #2,547
  • Jun 25, 2020 11:39am Jun 25, 2020 11:39am
A trade from this morning.
Roadmap Channel Failure trade
Wedge formation (had to keep adjusting lines as price developed...as you will note was not a wedge pattern until after entry)
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf062520.png Size: 182 KB
  • #2,548
  • Jun 25, 2020 11:52am Jun 25, 2020 11:52am
Quoting TheG-Lover
A trade from this morning. Roadmap Channel Failure trade Wedge formation (had to keep adjusting lines as price developed...as you will note was not a wedge pattern until after entry) {image}
I don't think you've got enough notes on there. There's a space down in the right corner
  • #2,549
  • Jun 25, 2020 11:57am Jun 25, 2020 11:57am
Quoting lemercenaire
{quote} I don't think you've got enough notes on there. There's a space down in the right corner
Haha, how did I miss that area ?!?!
  • #2,550
  • Edited 8:36am Jun 26, 2020 4:37am | Edited 8:36am
Another one taken on EURCHF, channel failure, aiming for previous swing low. seems decent entry according to my understanding but will like feedback from community on entry.Currently it seems going down but will update either way.
Also took one one on USDCAD with bounce off the todays open and aiming from swing high. Entry could be better but just trying out strategy to see the end result


Here are the outcome (3/3)
EURCAD - Channel Trading + Channel Failure (Trigger second bullet on price rejection on the trend line)
EURCHF - Channel Failure
USDCAD - Channel Failure (Entry could be better off the previous top band and would have got few more pips, though i could have trigger another bullet on rejection at trend line)

All in all good experience

Still looking around indicator for RSI Composite, as currently i am going by the Dashboard and its show the green arrow up, if both RSI and MA are bullish...and then see how the RSI look for other TF and make a call.

@TheG-Lover - Thanks for the comment on my yesterday's trade, i have taken note about looking left as well. And have started looking left and trying to draw the trend line like one today to see if price are moving at all. Appreciated..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCADM5.png Size: 136 KB
Click to Enlarge Name: USDCADM15.png Size: 117 KB
Click to Enlarge Name: EURCHFM5.png Size: 109 KB
  • #2,551
  • Jun 26, 2020 5:49am Jun 26, 2020 5:49am
Hi all, DOW trades from 1m bars this morning, first trade I exit as soon as the res SL broke, in the second.. greed took over as I expected a LL, and left on the table all the points from the break of res Speed line to the res TL..
Attached Image (click to enlarge)
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  • #2,552
  • Jun 26, 2020 7:16am Jun 26, 2020 7:16am
Quoting Nick24
Hi all, DOW trades from 1m bars this morning, first trade I exit as soon as the res SL broke, in the second.. greed took over as I expected a LL, and left on the table all the points from the break of res Speed line to the res TL.. {image}
I know I wasn't going to post more but I was struck with the similarity of UK morning Nasdaq and Dow movement.Good stuff. Laura has added a lot of clarity to 'simplicity.'
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #2,553
  • Jun 26, 2020 10:47am Jun 26, 2020 10:47am
Quoting Thakkx
Still looking around indicator for RSI Composite, as currently i am going by the Dashboard and its show the green arrow up, if both RSI and MA are bullish...and then see how the RSI look for other TF and make a call. @TheG-Lover - Thanks for the comment on my yesterday's trade, i have taken note about looking left as well. And have started looking left and trying to draw the trend line like one today to see if price are moving at all. Appreciated.. {image} {image} {image}
Go back and re-read Post #1. Laura attached the CompRSISelectv2 indicator. There have been several variations of the CompRSI indicator presented in this thread. If you left-click on the "paperclip" at the top of every page in this thread it will take you to a page listing "File Attachments". There are 4 pages or a total of 63 files attached to posts within this thread. Click on the "View Post" next to any file you are interested in & it will take you to the post with the file attached.
  • #2,554
  • Jun 26, 2020 11:05am Jun 26, 2020 11:05am
Quoting Pip Bull
{quote} Go back and re-read Post #1. Laura attached the CompRSISelectv2 indicator. There have been several variations of the CompRSI indicator presented in this thread. If you left-click on the "paperclip" at the top of every page in this thread it will take you to a page listing "File Attachments". There are 4 pages or a total of 63 files attached to posts within this thread. Click on the "View Post" next to any file you are interested in & it will take you to the post with the file attached.
I thought they are all for MT4 and none for MT5, but will give a go and see if i find any through paper clip.
Thanks
  • #2,555
  • Jun 26, 2020 12:16pm Jun 26, 2020 12:16pm
Quoting Thakkx
{quote} I thought they are all for MT4 and none for MT5, but will give a go and see if i find any through paper clip. Thanks
My mistake. I didn't realize you were looking for an MT5 version of the indicator.
  • #2,556
  • Edited 1:45pm Jun 26, 2020 12:38pm | Edited 1:45pm
Thought for today I would share my losing trade out of the 6 I took today.
It shows not to be overconfident, greedy or sloppy. Not sure which exactly I was, but all 3 could apply.
This was a loser because pure and simple I set my stop much tighter than I needed to for me to make money
over the long haul based on my DDRL scores.
Had I put the stop underneath more levels of support while still meeting my minimus of an r/r of 1.3, it would have been a winner.
Attached Image (click to enlarge)
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  • #2,557
  • Jun 26, 2020 10:52pm Jun 26, 2020 10:52pm
Quoting Thakkx
Still looking around indicator for RSI Composite, as currently i am going by the Dashboard and its show the green arrow up, if both RSI and MA are bullish...and then see how the RSI look for other TF and make a call.{image} {image} {image}
Unfortunately i was in a similar boat and currently use a MT4 demo account for analysis then place trades on my brokers platform. I believe there is a thread or two here on ForexFactory where you could make a request for one to be written. In Post 880 it was mentioned RSI composite is = RSI 2 + RSI 9 for the 4H, Daily, Weekly divided by 6. In the mean time you could try a Multi Time Frame RSI indicator for 4H RSI or D1 RSI 4/low. It's close but not perfect.

Attached Image (click to enlarge)
Click to Enlarge Name: RSI.jpg Size: 447 KB
  • #2,558
  • Jun 26, 2020 11:23pm Jun 26, 2020 11:23pm
Quoting shr5
{quote} Loving your template, would you be kind enough to share your indicators and template? Thanks in advance. Best Regards, Raza -
Certainly

Here are the indicators and templates. One with MTF 200 MA's and one without. Would recommend not using Multiple MA's as you may start to use them outside the rules and go backwards in progress as I did. Since I am unable to sit in front of the computer or even check in every few hours. I tend to use them to help me see the potential setups on multiple time frames without switching back and forth as much. so when I do randomly get to check the market I can quickly locate a trade on any particular time frame that may have a setup present. In the future I will post with no additional MA's as to not make it more confusing

Symbol_Changer_PLUS: https://www.forexfactory.com/showthread.php?t=939778
Stratman Mini Charts: https://www.forexfactory.com/showthread.php?t=198729

All other indicators are from "Roadmap - A Way To Read Markets": https://www.forexfactory.com/showthread.php?t=993524
!SM_ADR Marker
!SM_Daiy_HiLo
daily_open_line
CompRSISelectv2
RoadMap TrendBand_SubWindow

Attached Image (click to enlarge)
Click to Enlarge Name: Roadmap - Dark 2.0 - MTF MA.jpg Size: 504 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Roadmap - Dark 2.0 - No MA.jpg Size: 483 KB
Attached File(s)
File Type: zip Roadmap Dark.zip   1.1 MB | 877 downloads
  • #2,559
  • Jun 27, 2020 10:10am Jun 27, 2020 10:10am
Quoting ChubbyWookie
{quote} Unfortunately i was in a similar boat and currently use a MT4 demo account for analysis then place trades on my brokers platform. I believe there is a thread or two here on ForexFactory where you could make a request for one to be written. In Post 880 it was mentioned RSI composite is = RSI 2 + RSI 9 for the 4H, Daily, Weekly divided by 6. In the mean time you could try a Multi Time Frame RSI indicator for 4H RSI or D1 RSI 4/low. It's close but not perfect. {image}
Thanks, can you please recommend any for the MTF RSI as i cannot find any decent.
  • #2,560
  • Jun 27, 2020 10:57pm Jun 27, 2020 10:57pm
Quoting Thakkx
{quote} Thanks, can you please recommend any for the MTF RSI as i cannot find any decent.
I don't know of any for MT5. The example I showed above was with eXclusive MTF RSI for MT4. On MT4 located in the terminal you can search the market for indicators. Some cost $ and others may be free. I imagine MT5 must have something similar or check out https://www.mql5.com/en/code/mt5/indicators. Although google is probably easier.
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