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Roadmap - A Way To Read Markets

  • #3,521
  • Oct 1, 2020 4:10pm Oct 1, 2020 4:10pm
Quoting khaled2259
{quote} hi LauraT thanks for your kind reply, the indicator draws custom candle highs, and lows to any time frame like 6H, or 8H and its not moving average. appreciate if you can help, its not drawing low for gold or Dow but for others no problem . please have a look on the attached snip. {file} {image}
A large proportion of indicators don't work on the indices using mt4.
  • #3,522
  • Oct 1, 2020 4:33pm Oct 1, 2020 4:33pm
Quoting khaled2259
{quote} hi LauraT thanks for your kind reply, the indicator draws custom candle highs, and lows to any time frame like 6H, or 8H and its not moving average. appreciate if you can help, its not drawing low for gold or Dow but for others no problem . please have a look on the attached snip. {file} {image}
Hi, do you know the name of indi you require,, I have loads of indis
  • #3,523
  • Oct 1, 2020 4:41pm Oct 1, 2020 4:41pm
Quoting v.padillafx
{quote} Yes as of now I do not use market structure just rules and entry signals of my strategy but will continue to back test other elements such as Market Structure. Only concern with my strategy is the ranges, although your SL are wider, do you have any comments on my 4-8 pip SL depending on entry signal of course?
Sorry, don't mean to button in on your thread but are you serious about a 4-8 pip stop. That's impossible to make money that way. You need to increase the stops. Press winners everytime
  • #3,524
  • Oct 1, 2020 5:48pm Oct 1, 2020 5:48pm
Quoting khaled2259
{quote} hi LauraT thanks for your kind reply, the indicator draws custom candle highs, and lows to any time frame like 6H, or 8H and its not moving average. appreciate if you can help, its not drawing low for gold or Dow but for others no problem . please have a look on the attached snip. {file} {image}
I have made change but I have no idea whatever this indicator draws is correct or not, for the instruments you are checking.

Attached File(s)
File Type: mq4 HighLow_Custom.mq4   4 KB | 439 downloads
  • #3,525
  • Oct 2, 2020 12:30am Oct 2, 2020 12:30am
the ADR marker is really helpful, it would be nice if there is an indicator which shows historical ADR highs and lows.

does anybody here know such an indicator?
trading is like dancing, don't think and just listen to the music!
  • #3,526
  • Oct 2, 2020 1:28am Oct 2, 2020 1:28am
Hi LauraT, i used RoadmapPanel of freeman03 in tradingView, It has ADR behind RSI2/RSI9. How to show it in PC?
Attached Image
  • #3,527
  • Oct 2, 2020 2:16am Oct 2, 2020 2:16am
Quoting birdland
the ADR marker is really helpful, it would be nice if there is an indicator which shows historical ADR highs and lows. does anybody here know such an indicator?
Attached File(s)
File Type: ex4 OGT ADR Indicator v1.2.ex4   52 KB | 768 downloads
  • #3,528
  • Oct 2, 2020 2:18am Oct 2, 2020 2:18am
Quoting LauraT
{quote} {file}
thx laura! thats a great help!
trading is like dancing, don't think and just listen to the music!
  • #3,529
  • Oct 2, 2020 3:07am Oct 2, 2020 3:07am
hi everybody!

morning trades on GU.
the bias on my structure tf was buy, so i start to trade in that direction. first was BE, because the price action over day open was reversal, and ,to be honest, im waiting much better pullback to the key level on my structure tf for bigining buy trades. second trade was after pullback and it gave profit, the exit was not emotional as it seems. price hit really strong the key level, without any oportunities to draw a speedline, so i prefered to take my money, rr by the end 1:1.3

PS
thanks a lot, Laura! your thread and articles in the journal are really great! i was struggling for a years, but when i read you articles, i have a feeling that im not alone, and there is somebody who understand me really good!
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  • #3,530
  • Oct 2, 2020 5:24am Oct 2, 2020 5:24am
Oil short.

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This was a continuation trade. Waited for retracement to die before getting short. Had 55 channel as extra security. Missed earlier visit to ADR Low so took profit second time around.
  • #3,531
  • Oct 2, 2020 5:44am Oct 2, 2020 5:44am
Quoting LauraT
Oil short. {image} This was a continuation trade. Waited for retracement to die before getting short. Had 55 channel as extra security. Missed earlier visit to ADR Low so took profit second time around.
just the same. but on brent.

enter after a retest of yesterday's low, exit by speedline.

feel uncomfortable during this trade because of flat around my enter...but it ends fast after move in my direction
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  • #3,532
  • Oct 2, 2020 5:51am Oct 2, 2020 5:51am
Just wanted to drop in this Nasdaq chart because some here are thinking of loading all sorts of indicators on their charts. More indicators don't mean less losses. Believe me, you will still get losses. The trick is to MANAGE your trades. Simple is best. The bare minimum Laura has already given you. Don't fiddle.
Now -Nasdaq: The horizontal line was put in before 8am UK time but note how price reacts to it, and you can watch your price action around them or set stops around your decision point. know where you are wrong before you get in. Stop tinkering. Set your chart up before the session, jump in and manage. Discipline is key.
Manage? Speed lines etc and also see where Laura's Ex 2 pulls in a few pips.
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every Saint has a past. Every Sinner has a Future
  • #3,533
  • Oct 2, 2020 5:51am Oct 2, 2020 5:51am
Quoting Frost99
{quote} just the same. but on brent. enter after a retest of yesterday's low, exit by speedline. feel uncomfortable during this trade because of flat around my enter... {image}
Nice exit !
  • #3,534
  • Oct 2, 2020 5:57am Oct 2, 2020 5:57am
Quoting Frost99
{quote} just the same. but on brent. enter after a retest of yesterday's low, exit by speedline. feel uncomfortable during this trade because of flat around my enter...but it ends fast after move in my direction {image}
Just a thought - The high above your price would have made a good stop and it was never breached. But you will still munch through a few biscuits with your cup of tea whilst watching though

Psst.....Good old speed lines
every Saint has a past. Every Sinner has a Future
  • #3,535
  • Oct 2, 2020 6:13am Oct 2, 2020 6:13am
Quoting turnip15
{quote} Good old speed lines
yes! simple,lethal and unbreakable, like kalashnikov rifle))
  • #3,536
  • Oct 2, 2020 6:28am Oct 2, 2020 6:28am
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its all roll ok ?
Sanaullah
  • #3,537
  • Oct 2, 2020 6:29am Oct 2, 2020 6:29am
Quoting turnip15
Just wanted to drop in this Nasdaq chart because some here are thinking of loading all sorts of indicators on their charts. More indicators don't mean less losses. Believe me, you will still get losses. The trick is to MANAGE your trades. Simple is best. The bare minimum Laura has already given you. Don't fiddle. Now -Nasdaq: The horizontal line was put in before 8am UK time but note how price reacts to it, and you can watch your price action around them or set stops around your decision point. know where you are wrong before you get in. Stop tinkering....
NAS Short -
Agreed, I pretty much entered at that level , didn't see the YL and missed a better entry opportunity few minutes later as I was already in the trade.

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  • #3,538
  • Oct 2, 2020 6:40am Oct 2, 2020 6:40am
Quoting sanaullah79
{image}its all roll ok ?
Yes, that's a valid trade
  • #3,539
  • Oct 2, 2020 7:03am Oct 2, 2020 7:03am
+172 on two Nasdaq trades. Another example of continuation trades.

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  • #3,540
  • Oct 2, 2020 7:46am Oct 2, 2020 7:46am
Thanks for these two examples, makes more sense now I see when it is applicable, using the close below as a signal that the retrace is over. of course if you can't see the retrace on a trend then it's not relevant.

PS do you change colour scheme according to the day, moods, or just randomly. Curious minds need to know these things

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