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Roadmap - A Way To Read Markets

  • #4,641
  • Jun 1, 2021 4:35am Jun 1, 2021 4:35am
Quoting LauraT
{quote} Be wary of markets where the SMA200 is flat. It can be a lottery as to which direction it chooses and can change its mind repeatedly.
yes many thanks Laura...(actually still hope it goes down...I'm short on audusd since days ...but these are apperently choppy days)

however zooming out the sma does not seem too flat...maybe it is now flattening ...

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how many things to be kept under a trader's radar :-)
  • #4,642
  • Jun 1, 2021 4:58am Jun 1, 2021 4:58am
ADR reversal?
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waiting for the RSI to get higher than 60
  • #4,643
  • Jun 1, 2021 6:39am Jun 1, 2021 6:39am
Hey Laura, hello everyone,

Instead of spending the weekend enjoying the sunny days I've been eating the pages of this thread nonstop, and its been a fantastic experience, so far I havent live traded yet as I have been preping the tools for backtest it with the simulator (TV/Sft4fx) so far the TV is done and ready to go almost done with the ADR projections on historical data to be accurate, Laura once more, thank you for your Journal is outstanding and so well written, since my a little fish here I would like to do my contribution if anyone interested with an updated version of the TV(tradingview) setup for Roadmap, find the pic below:

With new update of TV code we can now have the dashboard working in all timeframes and also I have the oscilator RSI2/9 and the 2nd channel(55) as per suggestion on Lauras Journal. have a look see if anyones interested.

Good pips to all!
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  • #4,644
  • Jun 1, 2021 7:15am Jun 1, 2021 7:15am
Quoting pedrobhs
Hey Laura, hello everyone, Instead of spending the weekend enjoying the sunny days I've been eating the pages of this thread nonstop, and its been a fantastic experience, so far I havent live traded yet as I have been preping the tools for backtest it with the simulator (TV/Sft4fx) so far the TV is done and ready to go almost done with the ADR projections on historical data to be accurate, Laura once more, thank you for your Journal is outstanding and so well written, since my a little fish here I would like to do my contribution if anyone interested...
are you implementing the ADR lines real-time computation until they are locked?
  • #4,645
  • Jun 1, 2021 7:40am Jun 1, 2021 7:40am
Quoting tesiag
{quote} are you implementing the ADR lines real-time computation until they are locked?
the values of ADR are from the last 14 days high and lows divided by 14 that is a fixed number, there is no real-time computation they are the sum of the last range of 14 days they dont add the value of todays (real-time) that wouldn't create the "boundries" if they were real-time, the one Im using gives the same range Lauras gives, the only info I didnt add (yet) is the information on ADR as to how long to reach top/bottom, and reactive color of lines (red once broken), this I will add later on.
  • #4,646
  • Jun 1, 2021 8:36am Jun 1, 2021 8:36am
Quoting pedrobhs
{quote} the values of ADR are from the last 14 days high and lows divided by 14 that is a fixed number, there is no real-time computation they are the sum of the last range of 14 days they dont add the value of todays (real-time) that wouldn't create the "boundries" if they were real-time, the one Im using gives the same range Lauras gives, the only info I didnt add (yet) is the information on ADR as to how long to reach top/bottom, and reactive color of lines (red once broken), this I will add later on.
I was just referring to the feature you mention (highlighted in bold).
  • #4,647
  • Jun 1, 2021 9:03am Jun 1, 2021 9:03am
Quoting pedrobhs
{quote} the values of ADR are from the last 14 days high and lows divided by 14 that is a fixed number, there is no real-time computation they are the sum of the last range of 14 days they dont add the value of todays (real-time) that wouldn't create the "boundries" if they were real-time, the one Im using gives the same range Lauras gives, the only info I didnt add (yet) is the information on ADR as to how long to reach top/bottom, and reactive color of lines (red once broken), this I will add later on.
I guess you get 90% (or more) of what you need for ADR lines from here

https://github.com/sherwind/pinescri...nge.pinescript
  • #4,648
  • Jun 1, 2021 9:25am Jun 1, 2021 9:25am
Quoting tesiag
{quote} I guess you get 90% (or more) of what you need for ADR lines from here https://github.com/sherwind/pinescri...nge.pinescript

Im working on it right now actually
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  • #4,649
  • Jun 1, 2021 9:29am Jun 1, 2021 9:29am
Quoting LauraT
Hi everyone, I was reviewing Friday's charts and thought EU was worth a mention. Notice how the composite RSI figure was around 32 at ADR low and around 62 at ADR high. These were both good areas to enter (and/or take profit if already in). Normally, you'd expect a pair that hits ADR low to be around or below 20 on the composite RSI. A reading higher than this suggests there is a decent chance of a bounce. Conversely, a reading of around or above 80 could be expected at ADR high. {image}
Interesting concept

In this example GJ M5 running now I think i will use speedline for exit as I don't know if it will reverse at ADR low. RSI is around 33, but any comment appreciated.

EDIT - exited around speedline at 155.15
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  • #4,650
  • Jun 1, 2021 10:10am Jun 1, 2021 10:10am
Quoting tesiag
ADR reversal? {image} waiting for the RSI to get higher than 60
Although it's valid in terms of RSI reading, notice how Yesterday's Low is just beyond the ADR low. In cases like this, it will usually want to tag Yesterday's Low before trying to reverse.
  • #4,651
  • Jun 1, 2021 10:13am Jun 1, 2021 10:13am
Quoting pedrobhs
Hey Laura, hello everyone, Instead of spending the weekend enjoying the sunny days I've been eating the pages of this thread nonstop, and its been a fantastic experience, so far I havent live traded yet as I have been preping the tools for backtest it with the simulator (TV/Sft4fx) so far the TV is done and ready to go almost done with the ADR projections on historical data to be accurate, Laura once more, thank you for your Journal is outstanding and so well written, since my a little fish here I would like to do my contribution if anyone interested...
Hi,

Welcome and thank you for contributions.
  • #4,652
  • Jun 1, 2021 10:14am Jun 1, 2021 10:14am
Quoting Zimbinga
{quote} Interesting concept In this example GJ M5 running now I think i will use speedline for exit as I don't know if it will reverse at ADR low. RSI is around 33, but any comment appreciated. EDIT - exited around speedline at 155.15 {image}
yes...in my opinion speedlines can be an additional tool to support decisions (for entries or exits) even for ADR reversals.


After all she introduced this tool to better identify momentum fading and avoid fighting against momentum, independently from the kind of entries/exits (basic or advanced).

I guess Laura will be ok with it...
  • #4,653
  • Jun 1, 2021 10:22am Jun 1, 2021 10:22am
Quoting LauraT
{quote} Although it's valid in terms of RSI reading, notice how Yesterday's Low is just beyond the ADR low. In cases like this, it will usually want to tag Yesterday's Low before trying to reverse.
more or less what it did
  • #4,654
  • Jun 2, 2021 2:40am Jun 2, 2021 2:40am
Would a bounce-of from start normally be considerd as a good trade oppertunity and is there anything else that I should consider?

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Emotions vs Rules
  • #4,655
  • Jun 2, 2021 2:55am Jun 2, 2021 2:55am
Quoting BlueBranch
Would a bounce-of from start normally be considerd as a good trade oppertunity and is there anything else that I should consider? {image}
Hi,

Those break and re-test setups are good. Only other thing to consider in that scenario is that previous day's low was just below and could act as support.
  • #4,656
  • Jun 2, 2021 3:21am Jun 2, 2021 3:21am
Quoting LauraT
{quote} Hi, Those break and re-test setups are good. Only other thing to consider in that scenario is that previous day's low was just below and could act as support.
Thanks, I understand.
Emotions vs Rules
  • #4,657
  • Jun 2, 2021 3:33am Jun 2, 2021 3:33am
Is this a good re-test setup or is price to far away from the SMA or is it complety else entery?
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Emotions vs Rules
  • #4,658
  • Jun 2, 2021 5:54am Jun 2, 2021 5:54am
Quoting LauraT
{quote} Hi, Unfortunately 70-ish is really borderline and requires a judgement call. Personally, I wouldn't have very high expectations of a bounce unless I saw price action confirming it.
Hi Laura, my question rather was, when do you call it "a Bounce of ADR line" and when is it "ADR Breakout". Never mind.
Here are my observations of how the market behaved, when the price reached the ADR line in the last few days and what were the CompRSI values in that particular moment...
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  • #4,659
  • Jun 2, 2021 7:10am Jun 2, 2021 7:10am
Quoting H0nZ4
{quote} Hi Laura, my question rather was, when do you call it "a Bounce of ADR line" and when is it "ADR Breakout". Never mind. Here are my observations of how the market behaved, when the price reached the ADR line in the last few days and what were the CompRSI values in that particular moment... {image}
Hi H0nZ4
May you please tell us what the question marks mean in your table?
And apparently you see in the table just one ADR hit per day on any cross...I would expect more "ADR level testing" in some days


Thanks for your reply
  • #4,660
  • Jun 2, 2021 8:50am Jun 2, 2021 8:50am
Quoting tesiag
{quote} Hi H0nZ4 May you please tell us what the question marks mean in your table? And apparently you see in the table just one ADR hit per day on any cross...I would expect more "ADR level testing" in some days Thanks for your reply
Hi tesiag,
I apologize for any incomprehensibility of my post. The question mark means "I am not sure, if it can be clasified as a bounce or rather a breakout."
The table doesn't include all the tests of ADR levels, just a few examples.
Maybe one picture says more than my limited ability to express myself in English:
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