Roadmap - A Way To Read Markets | Page 235 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Software tools for LauraT's Roadmap 169 replies

Forex Brokerage Roadmap 4 replies

Best way to read all of someone's posts? 3 replies

Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
Exit Attachments

Roadmap - A Way To Read Markets

  • #4,681
  • Jun 3, 2021 11:56am Jun 3, 2021 11:56am
One more I am in

Attached Image (click to enlarge)
Click to Enlarge Name: InkedEURCADH1_LI.jpg Size: 1.3 MB
Plan, Prepare, Execute, Repeat
  • #4,682
  • Jun 3, 2021 12:37pm Jun 3, 2021 12:37pm
Laura I have a question re support, as in the horizontal red lines in chart below. Does the fact that price has broken the diagonal red trendline lessen in any way the potential weight you would give to the horizontal support?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m5-raw-trading-ltd-2.png Size: 65 KB
  • #4,683
  • Jun 3, 2021 12:44pm Jun 3, 2021 12:44pm
Quoting Zimbinga
Laura I have a question re support, as in the horizontal red lines in chart below. Does the fact that price has broken the diagonal red trendline lessen in any way the potential weight you would give to the horizontal support? {image}
No. The fact the trendline was decisively broken does make it more likely that price would visit the first support level. But it doesn't tell us anything about how likely the level is to hold firm when reached.
  • #4,684
  • Jun 3, 2021 12:49pm Jun 3, 2021 12:49pm
Quoting LauraT
{quote} No. The fact the trendline was decisively broken does make it more likely that price would visit the first support level. But it doesn't tell us anything about how likely the level is to hold firm when reached.
Thank you, as this issue is on the charts all the time so I was keen to know your view.

Perhaps also in a similar vein I could ask in relation to unbroken S/R - does distance away to the left lessen it's power do you think or should it always be respected in the same way until broken?
  • #4,685
  • Jun 3, 2021 12:56pm Jun 3, 2021 12:56pm
Quoting Zimbinga
{quote} Thank you, as this issue is on the charts all the time so I was keen to know your view. Perhaps also in a similar vein I could ask in relation to unbroken S/R - does distance away to the left lessen it's power do you think or should it always be respected in the same way until broken?
In my view, an unbroken support or resistance zone carries slightly more weight the longer it has existed for. This is just a gut feeling based on chart experience though, I haven't carried out a formal study of it. But if we think of a market top for example - it seems logical to give more weight to one that has survived for 2 years than one that was made last week.
  • #4,686
  • Jun 3, 2021 12:59pm Jun 3, 2021 12:59pm
Quoting LauraT
{quote} In my view, an unbroken support or resistance zone carries slightly more weight the longer it has existed for. This is just a gut feeling based on chart experience though, I haven't carried out a formal study of it. But if we think of a market top for example - it seems logical to give more weight to one that has survived for 2 years than one that was made last week.
Thanks again, much appreciated
  • #4,687
  • Jun 4, 2021 4:56am Jun 4, 2021 4:56am
Hi laura how do you anticipate channel failure or bounce of do you, consider Support and Resistance Area in higher time frame zone (H4, daylly) when trade as well as another factor relate to higher time frame (round number)?
  • #4,688
  • Jun 4, 2021 7:25am Jun 4, 2021 7:25am
Quoting potay90
Hi laura how do you anticipate channel failure or bounce of do you, consider Support and Resistance Area in higher time frame zone (H4, daylly) when trade as well as another factor relate to higher time frame (round number)?
You can look at a combination of things. Support and resistance. Composite RSI value. Position of Yesterday's High/Low, colours of MTF Dashboard etc etc.

The point is, you are looking for some logical reason as to why there might be a failure/reversal there.

Here's a live example - Yesterday's Low is providing resistance and SMA200 just above. Composite RSI under 40 and 3 of the 4 lowest timeframes are red on MTF Dashboard.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 40 KB


Just because everything lines up perfectly to suggest a reversal is likely though, that's not to say it will definitely work out. We have to be flexible in our thoughts and react to what actually happens instead of what we think might happen.
  • #4,689
  • Jun 4, 2021 8:01am Jun 4, 2021 8:01am
Quoting LauraT
{quote} You can look at a combination of things. Support and resistance. Composite RSI value. Position of Yesterday's High/Low, colours of MTF Dashboard etc etc. The point is, you are looking for some logical reason as to why there might be a failure/reversal there. Here's a live example - Yesterday's Low is providing resistance and SMA200 just above. Composite RSI under 40 and 3 of the 4 lowest timeframes are red on MTF Dashboard. {image} Just because everything lines up perfectly to suggest a reversal is likely though, that's not to say it will...
perfect example, could you tell me more about Composite RSI, as i often neglect it (i dont understand about the criteria of that indicator). Bellow and above normal we expect to strong buy or sell
  • #4,690
  • Jun 4, 2021 8:19am Jun 4, 2021 8:19am
[quote=LauraT;13568344]{quote} You can look at a combination of things. Support and resistance. Composite RSI value. Position of Yesterday's High/Low, colours of MTF Dashboard etc etc. The point is, you are looking for some logical reason as to why there might be a failure/reversal there. Here's a live example - Yesterday's Low is providing resistance and SMA200 just above. Composite RSI under 40 and 3 of the 4 lowest timeframes are red on MTF Dashboard. {image} Just because everything lines up perfectly to suggest a reversal is likely though, that's not to say it will definitely work out. We have to be flexible in our thoughts and react to what actually happens instead of what we think might happen.[/quote]s logic of risk management....

The essence of risk and risk management ....
Thanks Laura for recalling us...

We always struggle with the bias of the "fixed income"
  • #4,691
  • Jun 4, 2021 8:39am Jun 4, 2021 8:39am
Quoting potay90
{quote} perfect example, could you tell me more about Composite RSI, as i often neglect it (i dont understand about the criteria of that indicator). Bellow and above normal we expect to strong buy or sell
In very basic terms, above 50 is bullish and below is bearish.

I advise people to allow a little buffer zone and regard 45 to 55 as neutral but more experienced traders can override that requirement.
  • #4,692
  • Jun 4, 2021 11:12am Jun 4, 2021 11:12am
Hi Laura, sorry for asking to much question and seem like i am very annoying but the do you is that the Composite RSI indicator as i take from first chart, is the same like you? and by the way if it is diffirent so how to use them
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-gain-capital-group.png Size: 84 KB
  • #4,693
  • Jun 4, 2021 11:22am Jun 4, 2021 11:22am
Quoting potay90
Hi Laura, sorry for asking to much question and seem like i am very annoying but the do you is that the Composite RSI indicator as i take from first chart, is the same like you? and by the way if it is diffirent so how to use them {image}
Yes - same.
  • #4,694
  • Jun 7, 2021 7:19am Jun 7, 2021 7:19am
Hi everyone - I've released a second strategy today that you might want to take a look at:

https://www.forexfactory.com/thread/...ading-strategy

Don't worry though, Roadmappers, I'll still be active here if there are any queries about Roadmap.
  • #4,695
  • Jun 8, 2021 3:39am Jun 8, 2021 3:39am
Roadmap Tradingview Version:

  1. https://www.tradingview.com/script/L...bfx-Dashboard/
  2. https://www.tradingview.com/script/s...-pbfx-RoadMap/
  3. https://www.tradingview.com/script/B...-CompositeRSI/


Description:
This is the bundle of the indicators used by the amazing LauraT over at FF using her method call Roadmap - A Way to Read Markets, it is a fantastic yet simplistic structure-reading way of trade that focus on momentum and rejection of price levels, more information on her forum thread.

FEATURES:
- 200-Period Simple Moving Average the pillar of this setup where dictates trend movement;
- 8-Period High/Low Channel EMA following the price close for fast changing in trade direction;
- 14-Period ADR High/Low with reactive lines that signals when price has exceeded the ADR limit;
- Previous Day High/Low levels which serves as Support/Resistance;
- Daily Open line plot on the chart where price sometimes try to go back to before changing direction;
- 200-Period SMA Multi-Timeframe Dashboard to keep track on the trend from higher timeframes at a glance;
- CompositeRSI that combiles 2 RSI value from 3 different timeframes and the average value is plotted as a single step-line with 3 zones:
BuyZone: 55+, NeutralZone: 45-55 and SellZone 45- level;

EXTRAS:
- 55-Period High/Low 2nd Channel EMA which could be used exit reference or ensuring trend continuity;
- High-Timeframe 200-Period SMA, this feature is NOT part of the original method but is a handy tool to maintain track of 200MA in Higher Timeframe
- Trading Session Highlight, this is defaulted at London/New York sessions (can be edited) to make a better visual representation of when the best volatile hours are in play (this is not a calculation of volatility, is just the time of day based on market availability)


Usability:
All Indicators are set according to LauraT's setup presented on her Thread/Journal, with the option to change values at your will, see below:
- CompositeRSI can be Manual (user set values) or Automatic (Forex/Crypto [h4,1d,1w] or Indices/Futures/Stock/Bonds [m15,h1] )
- 200-SMA Dashboard is set from 5m onwards as Tradingview has issues with tracking timeframes below current one, since LauraT recommends trading on 5m, is set from this timeframe up to 1week, those can be changed MANUALLY ONLY on Settings menu.
- HTF 200-SMA (default Auto) uses pre-set values to track timeframes above current ones as follows:
(1m > 5m), (2m/3m > 10m), (5m > 15m), (15m > 30m), (30m > 1h), (1h > 4h), (4h > 1D)
or it can be set Manual and select any Timeframe of choice;

Attached Image (click to enlarge)
Click to Enlarge Name: roadmap_1.png Size: 190 KB
  • #4,696
  • Jun 8, 2021 7:15pm Jun 8, 2021 7:15pm
Quoting pedrobhs
Roadmap Tradingview Version: https://www.tradingview.com/script/L...bfx-Dashboard/ https://www.tradingview.com/script/s...-pbfx-RoadMap/ https://www.tradingview.com/script/B...-CompositeRSI/ Description: This is the bundle of the indicators used by the amazing LauraT over at FF using her method call Roadmap - A Way to Read Markets, it is a fantastic yet simplistic structure-reading way of trade that focus on momentum and rejection of price levels, more information on her forum thread. FEATURES:...
Brilliant work mate!!
Plan, Prepare, Execute, Repeat
  • #4,697
  • Jun 9, 2021 3:40am Jun 9, 2021 3:40am
Quoting Zimbinga
Laura I have a question re support, as in the horizontal red lines in chart below. Does the fact that price has broken the diagonal red trendline lessen in any way the potential weight you would give to the horizontal support? {image}
I think you need a few more lines on your chart, just for clarity.
All you touch and all you see, is all your life will ever be.
  • #4,698
  • Jun 9, 2021 8:40am Jun 9, 2021 8:40am
Quoting swingtrade65
{quote} Brilliant work mate!!
Hi, r u not trade as frequently as before?
Arun
  • #4,699
  • Jun 9, 2021 11:57am Jun 9, 2021 11:57am
Quoting arunthegreat
{quote} Hi, r u not trade as frequently as before?
No, I am trading just the same....just not posting as much. It is summer time and I am out swimming and in the garden with the vegetables
I am taking screenshots when I enter a trade so I can go back and critique them after the fact.
Plan, Prepare, Execute, Repeat
  • #4,700
  • Jun 9, 2021 1:15pm Jun 9, 2021 1:15pm
Quoting swingtrade65
{quote} No, I am trading just the same....just not posting as much. It is summer time and I am out swimming and in the garden with the vegetables I am taking screenshots when I enter a trade so I can go back and critique them after the fact.
Discovered our puppy can eat Roses !!!

Agree about Summer - best spend time outside as much as possible. Winter grey days will arrive soon enough to warrant spending time at the screen again
every Saint has a past. Every Sinner has a Future
2 traders viewing now