Billytt Die happy trading e/j daily breakout | Page 2561 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #51,201
  • Jun 27, 2020 6:22am Jun 27, 2020 6:22am
Quoting claudia1
Interesting week ahead. Month end balancing the books, then NFP on Thursday due to US holidays. Simple plan for me - looking for break of 2300 down to 2200 as a starter. Also means a break of Friday/last week low. Day range on Friday was relatively low - usually followed by a big move but we will see. Will continue trading the hour break also. @Lem - Newmarket if you get a chance. Both Adam and Frankie got rides so plenty to keep me amused. {image}
Looks like an interesting day's racing.
  • #51,202
  • Jun 27, 2020 6:31am Jun 27, 2020 6:31am
Quoting lemercenaire
{quote} Looks like an interesting day's racing.
15.35 Newcastle great e/w bet there. Sky paying on 6 places.
  • #51,203
  • Jun 27, 2020 7:56am Jun 27, 2020 7:56am
Quoting birdland
{quote} everthing is clear now, billy, thx again! wonderful and simple, i like it!
If you want there's a handy indicator by SwingMan, it plots the ADR for the pair, and keeps adjusting it as price moves. So essentially it works a bit like Billy's drawings that he adjusts throughout the session. The only difference is that here it's plotted with an equal distance between the high & low of the current day. Easier to understand with a chart.

Attached Image (click to enlarge)
Click to Enlarge Name: SM1.PNG Size: 50 KB


Once (and if) the adr on that pair is reached for the day, the line turns red and is "locked", so it's very easy to see that it has been reached.

Attached Image (click to enlarge)
Click to Enlarge Name: SM2.PNG Size: 48 KB


I found that indi on Laura's Roadmap thread, and it's really helpful in terms of potential targets.

Attached File(s)
File Type: ex4 SM_ADR Marker.ex4   12 KB | 240 downloads
  • #51,204
  • Jun 27, 2020 8:42am Jun 27, 2020 8:42am
Quoting billytt
I want to know the Minimum amount of points made. These few points are the Grail.
  • #51,205
  • Jun 27, 2020 9:03am Jun 27, 2020 9:03am
Quoting Barraka
{quote} If you want there's a handy indicator by SwingMan, it plots the ADR for the pair, and keeps adjusting it as price moves. So essentially it works a bit like Billy's drawings that he adjusts throughout the session. The only difference is that here it's plotted with an equal distance between the high & low of the current day. Easier to understand with a chart. {image} Once (and if) the adr on that pair is reached for the day, the line turns red and is "locked", so it's very easy to see that it has been reached. {image} I found that indi on...
Hi B, good post,.
it looks useful,

i am happy wit my black line, it does the same thing.
The second chart, even though adr has been made, it is not in the correct position,
The red line should be at the highest high?
and the red low line should then of moved up.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,206
  • Jun 27, 2020 9:25am Jun 27, 2020 9:25am
Quoting billytt
{quote} Hi B, good post,. it looks useful, i am happy wit my black line, it does the same thing. The second chart, even though adr has been made, it is not in the correct position, The red line should be at the highest high? and the red low line should then of moved up.
Hey Billy,

I see what you mean, regarding the adr high. But the way the indi works is a bit different: it locks in and stops adjusting / increasing once the ADR is hit, that way you can visually see what the adr represents even after it's been reached. So throughout the day, whether the lines are yellow (adr not reached) or red (once reached), that box size never changes.
The fact that it doesn't keep getting higher as price rallies above the ADR (like in my 2nd screenshot) can actually be useful to have a visual indication of how far above the ADR price is taking place. For example, in case of reversal setups / failure to continue above.
  • #51,207
  • Jun 27, 2020 10:05am Jun 27, 2020 10:05am
Quoting Barraka
{quote} Hey Billy, I see what you mean, regarding the adr high. But the way the indi works is a bit different: it locks in and stops adjusting / increasing once the ADR is hit, that way you can visually see what the adr represents even after it's been reached. So throughout the day, whether the lines are yellow (adr not reached) or red (once reached), that box size never changes. The fact that it doesn't keep getting higher as price rallies above the ADR (like in my 2nd screenshot) can actually be useful to have a visual indication of how far above...
#
OK Bud, i see what you mean....
i am trying my best not to seem negative lol,
are you saying at the 00-00 open, the adr is put on, and then never moves,
OR as price moves, it gets adjusted.
i adjust my adr line after a decent move,
i also adjust it to 50% when i am hunting part of the adr, lol.
Like i say, it looks good.

edit,,,,, MAIN THING BEING,,,,,, i am trying to get you guys to always see where the adr is, we play against it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,208
  • Jun 27, 2020 11:02am Jun 27, 2020 11:02am
No worries

Yes, the lines moves as price moves. As the day's range grows, the ADR lines are adjusted to be equidistant from the current high-low.
I saw that at times you use your adr differently. For those that use MT4, it's convenient to have it plotted automatically. Until recently, I didn't pay much attention to the day's price in regards to the ADR, I've come to realise it has a lot of value in terms of targets.
  • #51,209
  • Edited 1:13pm Jun 27, 2020 11:28am | Edited 1:13pm
Quoting billytt
{quote} # OK Bud, i see what you mean.... i am trying my best not to seem negative lol, are you saying at the 00-00 open, the adr is put on, and then never moves, OR as price moves, it gets adjusted. i adjust my adr line after a decent move, i also adjust it to 50% when i am hunting part of the adr, lol. Like i say, it looks good. edit,,,,, MAIN THING BEING,,,,,, i am trying to get you guys to always see where the adr is, we play against it.
Haven't tried adjusting the adr yet like you do, probably not needed with GU 08:00 M15.

I always just have a look at where adr is at a total value based on the standard values high - low / 5 days.

But even here I don’t know if its much of importance if let’s say I see ADR reached 99% of the average daily range here at 08:00, it doesn’t mean it won’t move another 5 Pips (as this is what we only target for here right).
  • #51,210
  • Jun 27, 2020 1:52pm Jun 27, 2020 1:52pm
Quoting billytt
Frequency Distribution Stats, My stats are based on Break, then how many points made before retrace, call it False/Falsey, both rubbish terms. It can break then carry on for 500 million POINTS, this doesn't matter as length of range are different stats. I want to know the Minimum amount of points made. These few points are the Grail. Best stats are after a Fail where more points are made. Not many people can trade for 5 points, We All Know Why!!!!!!!!!
Can you please describe what you call "retrace"?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #51,211
  • Jun 27, 2020 1:54pm Jun 27, 2020 1:54pm
Quoting bojack34
{quote} ......and that post was EXACTLY why I asked for you to share these stats. You've shared more valuable stats and info on this thread in the last month than you have on your thread(s) for the last year. It's much appreciated. This is the kind of stuff that will actually help others. I too try to share my stats and insight when I can. Txs for the stats. Edit: I just went back and re-read my post. I stand by every word.
And that's why I have you on ignore.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #51,212
  • Jun 27, 2020 2:06pm Jun 27, 2020 2:06pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW4.png Size: 36 KB


ATR ZONES. The indicator checks the ATRs from ATR(2) to ATR(14), finds the maximum and minimum values and plots lines to create an ATR ZONE. ATR(5) would be somewhere between the ATR(2) and ATR(14) values.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #51,213
  • Jun 27, 2020 2:22pm Jun 27, 2020 2:22pm
Quoting TooSlow
{quote} Can you please describe what you call "retrace"?
Hi TS, retrace as in fail.

example, Price breaks High,it makes 7 points then retraces down to break low.
Tat 7 or what ever is important to me.


i manage Fails...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,214
  • Jun 27, 2020 2:41pm Jun 27, 2020 2:41pm
Quoting TooSlow
{quote} Can you please describe what you call "retrace"?
Think Wick-Zone...kinda' lol.
  • #51,215
  • Jun 27, 2020 2:43pm Jun 27, 2020 2:43pm
Quoting billytt
{quote} Hi TS, retrace as in fail. example, Price breaks High,it makes 7 points then retraces down to break low. That 7 or what ever is important to me. i manage Fails...
...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #51,216
  • Jun 27, 2020 2:49pm Jun 27, 2020 2:49pm
Quoting claudia1
{quote} 15.35 Newcastle great e/w bet there. Sky paying on 6 places.
Any joy?
  • #51,217
  • Jun 27, 2020 3:00pm Jun 27, 2020 3:00pm
Quoting lemercenaire
{quote} Any joy?
Not a bad day. Frankie let me down x 2 but Adam came in a win at 5/1 then got a place at the Newcastle race around 7/1,
  • #51,218
  • Jun 27, 2020 3:22pm Jun 27, 2020 3:22pm
Quoting TooSlow
{quote} And that's why I have you on ignore.
  • #51,219
  • Jun 27, 2020 3:26pm Jun 27, 2020 3:26pm
Quoting TooSlow
{image} ATR ZONES. The indicator checks the ATRs from ATR(2) to ATR(14), finds the maximum and minimum values and plots lines to create an ATR ZONE. ATR(5) would be somewhere between the ATR(2) and ATR(14) values.
He doesn't use ATR. He uses ADR 5 Sunday excluded.
  • #51,220
  • Jun 27, 2020 3:41pm Jun 27, 2020 3:41pm
Quoting bojack34
{quote} He doesn't use ATR. He uses ADR 5 Sunday excluded.
"The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The average true range is then a moving average, generally using 14 days, of the true ranges."

"How to Calculate ADR
The calculation of the daily range of a currency pair is a relatively easy process. You simply take the distance between the daily highs and daily lows of a currency pair. "

Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW4.png Size: 61 KB


ADR VS ATR - not much difference.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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