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  • #4,261
  • Feb 2, 2021 2:53am Feb 2, 2021 2:53am
Quoting 2muchbutter
Hi, I am just starting to learn the roadmap, for which I'm extremely grateful to Laura, but I stumbled upon something. So the classic Laura's 'TrendStrength - RSI-MTF' is set on the right, then there's Indalico made 'RoadMap Trend Band' at left and then there's 'MTF Dashboard' at upper right. Now, ...maybe i'm stupid or something, but why all SMA200 timeframes on each indicator is different from one another? Aren't they basically doing the same thing? What am I missing? {image}
Hi,

Use the Indalico one - you don't need the others. The one on the bottom right probably got 'stuck' somehow and is giving wrong readings. The one on the top right is actually giving the same readings as the Indalico one, it's just listed in opposite order (right to left vs left to right).
  • #4,262
  • Feb 2, 2021 3:44pm Feb 2, 2021 3:44pm
Aggressive short entry in DOW , anticipating a correction from profit taking ,towards the end of the session
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  • #4,263
  • Feb 3, 2021 1:36am Feb 3, 2021 1:36am
A trade I took just earlier.

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  • #4,264
  • Feb 3, 2021 3:45am Feb 3, 2021 3:45am
I am sorry for asking a newbie question, but can someone tell me what`s up with my indicators?
I have no idea, why they are loading this way - specially the MTF Dashboard?

Thanks in advance and thanks to Laura educating us!
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  • #4,265
  • Feb 3, 2021 4:00am Feb 3, 2021 4:00am
Quoting needtolearn
A trade I took just earlier. {image}
This touched stop loss, but the price came down the MA again. Do I re-enter near the arrow?
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  • #4,266
  • Feb 3, 2021 5:35am Feb 3, 2021 5:35am
Quoting needtolearn
{quote} This touched stop loss, but the price came down the MA again. Do I re-enter near the arrow? {image}
Hi.! Yes you can did so, reenter. But better you should stay in that first trade, because the sell bias is still in the market, so you just need some better place for stop. Just think where your scenario after entry will be smashed? And set stop order there. Read the thread and journal, Laura marked it many times, disaster stops.
  • #4,267
  • Feb 3, 2021 5:46am Feb 3, 2021 5:46am
Quoting Pips4Helena
I am sorry for asking a newbie question, but can someone tell me what`s up with my indicators? I have no idea, why they are loading this way - specially the MTF Dashboard? Thanks in advance and thanks to Laura educating us! {image}
Dont know what exactly happenes with your template. Just see the parametrs of location of the dashboard. And see what parametrs of indication you need for your trading, i remember it got a lot of useless
  • #4,268
  • Feb 3, 2021 11:36am Feb 3, 2021 11:36am
Quoting Frost99
{quote} Dont know what exactly happenes with your template. Just see the parametrs of location of the dashboard. And see what parametrs of indication you need for your trading, i remember it got a lot of useless
ok thanks, but I can't even grasp what "parametrs of indication you need for your trading" means. I am lost with that MTF Dashboard screw-up in my MT4...
  • #4,269
  • Feb 3, 2021 2:24pm Feb 3, 2021 2:24pm
Quoting Pips4Helena
I am sorry for asking a newbie question, but can someone tell me what`s up with my indicators? I have no idea, why they are loading this way - specially the MTF Dashboard? Thanks in advance and thanks to Laura educating us! {image}
Hi,

The TrendBand indicator bottom right makes the other two obsolete, so you can remove those

If that doesn't clear them, you can do so via the Object menu.

If still struggling, post screenshots of your loaded indicators list please.
  • #4,270
  • Feb 4, 2021 4:25am Feb 4, 2021 4:25am
Quoting LauraT
{quote} Hi, The TrendBand indicator bottom right makes the other two obsolete, so you can remove those If that doesn't clear them, you can do so via the Object menu. If still struggling, post screenshots of your loaded indicators list please.
Thank you Laura!
I removed the other two and the rest via Object menu and now it does seem to work! :-)
  • #4,271
  • Feb 4, 2021 4:57am Feb 4, 2021 4:57am
I am not posting so often now but here is the Dax ( UK time) for this morning ( UK time).
Straight forward Laura type channel trades. No lower panel indicators.
The "X" is a loser, probably because I was not paying attention and tried to fight an obvious down ( lower highs) trend.

EDIT: Be aware there are a lot of meetings today ( See calendar FF)
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every Saint has a past. Every Sinner has a Future
  • #4,272
  • Feb 5, 2021 8:30am Feb 5, 2021 8:30am
Quoting LauraT
{quote} Hi, Use the Indalico one - you don't need the others. The one on the bottom right probably got 'stuck' somehow and is giving wrong readings. The one on the top right is actually giving the same readings as the Indalico one, it's just listed in opposite order (right to left vs left to right).
Thank you very much Laura for the answer!

If it's not too much of a bother I have another question. So I want to backtest channel cross and failure strategies on currency pairs for 5m and 15m timeframes, but it seems that throughout the testing I won't be able to check MTF bias, only RSI bias. For MTF there needs to be >2 of green/red timeframes (1m, 5m, 15m, 30m) to go long/short. How do I check those values when I find an entry at historical data? I believe MTF bias is necessary for a valid backtesting results, right?
  • #4,273
  • Feb 5, 2021 8:57am Feb 5, 2021 8:57am
Hello - anyone there?

This one shows how theory in trading is no holy grail but money management is. ( IMHO of course)
The short is a loser for me "X"
I saw a lower high plus a channel break and shorted, but price promptly reversed and stopped me out.
Then price made higher lows ( remember Laura's post about getting in early?) Then price broke the resistance line I had marked prior to open, and I took a long break of that bar.
Thus my trading window - 8am to 10am -ish, saw me waiting and waiting a lot this morning:
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every Saint has a past. Every Sinner has a Future
  • #4,274
  • Feb 5, 2021 9:13am Feb 5, 2021 9:13am
Quoting 2muchbutter
{quote} Thank you very much Laura for the answer! If it's not too much of a bother I have another question. So I want to backtest channel cross and failure strategies on currency pairs for 5m and 15m timeframes, but it seems that throughout the testing I won't be able to check MTF bias, only RSI bias. For MTF there needs to be >2 of green/red timeframes (1m, 5m, 15m, 30m) to go long/short. How do I check those values when I find an entry at historical data? I believe MTF bias is necessary for a valid backtesting results, right?
Unfortunately you'll have to do without MTF in backtesting.

When backtesting channel crosses, for example, I would begin by purely testing with the channel and SMA (either bar by bar in your trading platform or using something like FXBlue). That will give you a baseline win rate and help you ascertain your risk management criteria.

Then it's going to be a case of forward testing to establish how much of a factor elements like RSI values and MTF colours are in profitability.

Things are further complicated if you are taking aggressive/advanced trades as per my journal, but if sticking to the basics I'd suggest the above.
  • #4,275
  • Feb 5, 2021 9:25am Feb 5, 2021 9:25am
The afternoon dax I was late in. If I was alert I would have got in higher up at 2:53pm on price pullback to resistance line drawn prior to open and a channel break as per Laura theme.
But a nice short nonetheless.
Will get out on this lower consolidation

Edit: Just as well that I did
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every Saint has a past. Every Sinner has a Future
  • #4,276
  • Feb 5, 2021 9:29am Feb 5, 2021 9:29am
That's it for me today. Be aware of LOT's of RED news type events now.
every Saint has a past. Every Sinner has a Future
  • #4,277
  • Feb 5, 2021 12:24pm Feb 5, 2021 12:24pm
Quoting LauraT
{quote} Unfortunately you'll have to do without MTF in backtesting. When backtesting channel crosses, for example, I would begin by purely testing with the channel and SMA (either bar by bar in your trading platform or using something like FXBlue). That will give you a baseline win rate and help you ascertain your risk management criteria. Then it's going to be a case of forward testing to establish how much of a factor elements like RSI values and MTF colours are in profitability. Things are further complicated if you are taking aggressive/advanced...
Only channel and SMA? What about previous day high/low and ATR high/low for target price? Would you instead apply the technique of exiting profitable long trade when charts starts sticking out below channel (as an indication that trend might possibly reverse) or exiting when entry is short and charts starts sticking out above channel? If only using channel and SMA for backtesting at first
  • #4,278
  • Feb 5, 2021 12:46pm Feb 5, 2021 12:46pm
Quoting 2muchbutter
{quote} Only channel and SMA? What about previous day high/low and ATR high/low for target price? Would you instead apply the technique of exiting profitable long trade when charts starts sticking out below channel (as an indication that trend might possibly reverse) or exiting when entry is short and charts starts sticking out above channel? If only using channel and SMA for backtesting at first
This is where you do your own research by forward testing those elements that suit you.None here ( I think) slavishly follow what Laura has posted. Remember, it is a roadmap - not the holy grail. Guidelines not holy writ. Read her journals and the posts in this thread THEN experiment until you have a construction that suits you and trade it.
How you trade is a small element - who you are( psychology) is a major part
Post your trades here for comment.
Good luck
every Saint has a past. Every Sinner has a Future
  • #4,279
  • Feb 5, 2021 12:49pm Feb 5, 2021 12:49pm
Quoting turnip15
{quote} This is where you do your own research by forward testing those elements that suit you.None here ( I think) slavishly follow what Laura has posted. Remember, it is a roadmap - not the holy grail. Guidelines not holy writ. Read her journals and the posts in this thread THEN experiment until you have a construction that suits you and trade it. How you trade is a small element - who you are( psychology) is a major part Post your trades here for comment. Good luck
This comment is exactly what I needed, thanks for the input!
  • #4,280
  • Feb 5, 2021 2:17pm Feb 5, 2021 2:17pm
Quoting 2muchbutter
{quote} This comment is exactly what I needed, thanks for the input!
You are very welcome. Good luck
every Saint has a past. Every Sinner has a Future
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