I am not very convinced and one can improve a little. For me it is an idea for exits.
You can google and have these days the system for $ 19.
- #63
- Edited 8:58pm Aug 1, 2020 8:29pm | Edited 8:58pm
- Joined Dec 2017 | Status: Trader | 4,378 Posts
New indicator "smACME Rectangle_v1.0" In the book by Conway and Behle one will find an algorithm for a rectangle breakout trading, as part of their ACME trading system. I made some small adjustments to identify congestion periods and although the solution is not perfect, one can see something ... {image} {image} {file} {file}
I like trading price swings -- 28 pairs on H4 time frame -- and your smACME indicator looks to be a good match for that trading style. Also, since I'm trading 28 pairs on H4 then I only need to get one or two bars right -- i.e. I'm not looking for an extended run or trend.
The screen shot above gives you an idea of what I mean. This is a GBPJPY / H4 chart with @mladen's centered TMA as a reference. The smACME indicator does a nice job of alerting to an upcoming price swing. If the price is near the upper ADR band, then the price swing will be Bearish. And if the price is near the lower ADR band, the the price swing will be Bullish -- something like that.
As I've gained more experience trading then it has become harder to find something "new under the sun". @Swingman -- you keep pushing the envelope of different and innovative indicators -- thank you!!!
- #66
- Edited 12:20pm Aug 2, 2020 10:18am | Edited 12:20pm
- Joined Aug 2007 | Status: Trader | 2,725 Posts
- #71
- Edited 3:55pm Aug 2, 2020 3:29pm | Edited 3:55pm
- Joined Dec 2017 | Status: Trader | 4,378 Posts
An interesting study can also be done with the combination of rectangles and octaves: {image}
I tried searching for the "smOctaves Lines_v1" indicator and failed. As a member of the LAZY trader club, I'm hoping you could re-post it...
- #73
- Aug 2, 2020 4:03pm Aug 2, 2020 4:03pm
- Joined Aug 2007 | Status: Trader | 2,725 Posts
Nice... I tried searching for the "smOctaves Lines_v1" indicator and failed. As a member of the LAZY trader club, I'm hoping you could re-post it...
Because nobody was interested in the topic, I also forgot to post it and there are already some indicators with octaves, that's just one of them.
The "smOctaves" indicator is a variant of "smPriceBoat MiddleHiLo" (#Post 43) so that the lines are drawn continuously and not from the beginning of a period (W1, D1).
- #74
- Aug 2, 2020 4:25pm Aug 2, 2020 4:25pm
- Joined Dec 2017 | Status: Trader | 4,378 Posts
{quote} I'm sorry, but I have the habit of speaking and writing faster than I think ... Because nobody was interested in the topic, I also forgot to post it and there are already some indicators with octaves, that's just one of them. The "smOctaves" indicator is a variant of "smPriceBoat MiddleHiLo" (#Post 43) so that the lines are drawn continuously and not from the beginning of a period (W1, D1). {file}
"Because nobody was interested in the topic..."
OMG -- you must be joking. It's a beautiful indicator...
I am not familar with octaves theory -- however, visually, it provides excellent clues and appears to integrate well with the centered TMA indicator (which I like to use to provide a context).
At first glance there appears to be a lot of lines -- but once you get your head around it then you can pick out patterns. I've only been playing with this combination for a few minutes and wouldn't claim this is the optimum way to present the data, but I could definitely trade this.
- #78
- Edited 6:15pm Aug 2, 2020 5:41pm | Edited 6:15pm
- Joined Dec 2017 | Status: Trader | 4,378 Posts
{quote} In fact, one only has to correctly interpret the information about Price Action. Exactly 10 years ago I posted a few similar indicators in the @nanningbob thread. It was 4th and 6th lines instead of octaves. Back then I was annoyed that @NB was so enthusiastic about his ideas that he may only have taken the dynamic lines into account after one year. https://www.forexfactory.com/thread/...90#post3907690
I browsed some of the posts -- interesting to read. You guys were actually working together and exchanging ideas to create something of value. What a concept...
{quote} A "blast from the past"...