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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

  • #119,961
  • Jun 5, 2021 6:14am Jun 5, 2021 6:14am
Quoting hasib
{quote} Be careful about picking tops and bottoms. here is the reality of picking tops and bottoms. Yes you can say it because of NFP. But it happen without the schedule news. again and again and again. BTW Do you have !SM ADR weekly and Monthly version ? If anyone have can share it here. {image}

hi hasib

I don't have the !SM ADr for Weekly.

I use the same DWM Range you have that too.

But I prefer to do my own calculation using the ATR-52 weeks and plot the weekly high-low on my charts for swing trading.

You can consider using the Average Daily Range Pro calculator { here }

Compare the AWR(52) and the ADR Pro.
Know the market type condition and use the AWR(52) to target 60% of that range when trading the 4H swing.


Attached Image (click to enlarge)
Click to Enlarge Name: ADR Pro vs AWR52 .png Size: 90 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,962
  • Jun 5, 2021 6:24am Jun 5, 2021 6:24am
Good day every one please can someone help with the MT5 version of this Breakout RSI indicator? Thanks please.
Attached File(s)
File Type: zip breakout-rsi-indicator.zip   3 KB | 304 downloads
"With God all things are possible"
  • #119,963
  • Jun 5, 2021 6:36am Jun 5, 2021 6:36am
Quoting Sammforeal
Good day every one please can someone help with the MT5 version of this Breakout RSI indicator? Thanks please. {file}
try here:

Free download of the 'QQE of Rsi(oma) - on chart' indicator by 'mladen' for MetaTrader 5 in the MQL5 Code Base, 2019.02.06
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,964
  • Jun 5, 2021 6:37am Jun 5, 2021 6:37am
Quoting Sammforeal
Good day every one please can someone help with the MT5 version of this Breakout RSI indicator? Thanks please. {file}
hi
probably T4Trade member could help you.
Best of luck
MA provides the market's current direction and strength.
  • #119,965
  • Jun 5, 2021 6:48am Jun 5, 2021 6:48am
Quoting emmanuel7788
{quote} try here: Free download of the 'QQE of Rsi(oma) - on chart' indicator by 'mladen' for MetaTrader 5 in the MQL5 Code Base, 2019.02.06
Thank you very much indeed for the link. I downloaded it but it does not seem to be the one i need. I will upload a screenshot of the Breakout rsi i am referring to, it s the one in brown color. It is very effective in finding overbought and oversold zones on the one hour timeframe. Thank you very much here is the screen shot of the Breakout RSI or maybe the one you gave me the link works the same way?
Attached Image (click to enlarge)
Click to Enlarge Name: Sample.png Size: 145 KB
"With God all things are possible"
  • #119,966
  • Jun 5, 2021 6:48am Jun 5, 2021 6:48am
Quoting hasib
{quote} hi probably T4Trade member could help you. Best of luck
Thank you very much Hasib...
"With God all things are possible"
  • #119,967
  • Jun 5, 2021 9:48am Jun 5, 2021 9:48am
Hi

Some may find the attached useful.

Trade well / Mos
* Credit to originators

Attached File(s)
File Type: ex4 #(T_S_R)-Daily Range Calculator .ex4   18 KB | 402 downloads
Attached File(s)
File Type: mq4 #(T_S_R)-Daily Range Calculator .mq4   15 KB | 393 downloads
Attached File(s)
File Type: ex4 #(T_S_R)-Monthly Range Calculator.ex4   18 KB | 357 downloads
Attached File(s)
File Type: mq4 #(T_S_R)-Monthly Range Calculator.mq4   16 KB | 431 downloads
Attached File(s)
File Type: ex4 #(T_S_R)-Weekly Range Calculator.ex4   19 KB | 375 downloads
Attached File(s)
File Type: mq4 #(T_S_R)-Weekly Range Calculator.mq4   15 KB | 446 downloads
Attached File(s)
File Type: ex4 MTF ADR Projection.ex4   23 KB | 408 downloads
Attached File(s)
File Type: mq4 MTF ADR Projection.mq4   7 KB | 490 downloads
Don't limit yourself!!
  • #119,968
  • Jun 5, 2021 11:09am Jun 5, 2021 11:09am
Quoting Sammforeal
{quote} Thank you very much Hasib...
i dont use mt5,Sam plese try the incator Big Emm sugggested,Emmanuel is the best about TMS strategy,read and reread all his posts.
  • #119,969
  • Jun 5, 2021 11:17am Jun 5, 2021 11:17am
Quoting T4Trade
{quote} i dont use mt5,Sam plese try the incator Big Emm sugggested,Emmanuel is the best about TMS strategy,read and reread all his posts.
Okay thanks a lot. I appreciate it. Actually I did download the indicator given by Emmanuel, but it was not what I was looking for . I don't have any issues or misunderstanding with the TMS strategy started by Big E of blessed memory at all. In fact several years ago i started making my first profits from this system I am talking like 2016 or so. I just wanted to add the Breakout RSI to the mix and see how it can help to detect retracements on the one hour chart. And you know these days some brokers are now switching to mt5 and leaving mt4. the TMS is great as a trend following system. However if i may suggest from my own experience using two timeframes can be a great way to filter trades on the lower time frame that are retracements on the higher timeframe. For example i only trade sell on the downtrend on one hour when there is a downtrend on the four hour chart and vice versa. I totally ignore trades that are against the four hour chart on the one hour. This has helped me a lot in filtering trades that end up ranging and instead it fetches trades that are cool and trend a lot leading to more profitable trades. Thank you very much.
"With God all things are possible"
  • #119,970
  • Jun 5, 2021 11:34am Jun 5, 2021 11:34am
Quoting Sammforeal
{quote} Okay thanks a lot. I appreciate it. Actually I did download the indicator given by Emmanuel, but it was not what I was looking for . I don't have any issues or misunderstanding with the TMS strategy started by Big E of blessed memory at all. In fact several years ago i started making my first profits from this system I am talking like 2016 or so. I just wanted to add the Breakout RSI to the mix and see how it can help to detect retracements on the one hour chart. And you know these days some brokers are now switching to mt5 and leaving mt4....
you can get help from here-
if any one interested they can help you.
https://www.forexfactory.com/thread/...indicators-for
MA provides the market's current direction and strength.
  • #119,971
  • Jun 5, 2021 11:36am Jun 5, 2021 11:36am
Quoting hasib
{quote} you can get help from here- if any one interested they can help you. https://www.forexfactory.com/thread/...indicators-for
Okay thank you very much Hasib. I appreciate it, thanks.
"With God all things are possible"
  • #119,972
  • Jun 5, 2021 1:13pm Jun 5, 2021 1:13pm
Quoting Sammforeal
{quote} Okay thanks a lot. I appreciate it. Actually I did download the indicator given by Emmanuel, but it was not what I was looking for . I don't have any issues or misunderstanding with the TMS strategy started by Big E of blessed memory at all. In fact several years ago i started making my first profits from this system I am talking like 2016 or so. I just wanted to add the Breakout RSI to the mix and see how it can help to detect retracements on the one hour chart. And you know these days some brokers are now switching to mt5 and leaving mt4....
using two timeframes can be a great way to filter trades on the lower time frame that are retracements on the higher timeframe.

You've made the first step in multiTF analysis and trading. Now you need to either switch to a charting platform that has custom TFs so that you can view H2, H8, and others. If you are too attached to MetaTrader, then you need to at least add indicators that emulate the many "missing" TFs.
To free Gazans of Hamas, use whatever it takes.
  • #119,973
  • Jun 5, 2021 1:47pm Jun 5, 2021 1:47pm
( This man probably quit trading )



In and out like a killer. Now let me walk you through my trading approach.

My belief is that trading is 80% method with clear measurable edge and 20% trading psychology (NOT THE REVERSE).

To start off, in trading from the strategy standpoint, it's important to know what the fair value of the commodity is.

Fair value represent a frame of reference in your decision making in buying or selling. Like any other business, you need to know what the "retail" price of a widget is before you decide at what cost/price you're willing to pay to make a profit. You don't need to know why people are willing to overpay for houses in a housing boom, or that people are willing to waste money buying beanie babies. You just need to know what that demand price is and take advantage of the price discrepancies between what you can get at wholesale (your entries) vs what you can get people to pay for it (your targets)

Fair value can be arrived at different ways. What I use is VWAP. It's moving average usually applied to daily session. But unlike a simple moving average; vwap is weighted against the bar's volume over the sum of the volume over the whole day. The vwap will fluctuate more on high volume sessions. To me using this indicator makes a lot of sense because it uses 2 primary variables that make a market; price and volume.

Other ways of determining fair value is market profile point of control (again volume based) or using price like Pivot or just analyzing how price high/low swings overlap.

Anyway, once you know what fair value is, your job is then to determine what's the best price to sell/buy into value. This is a fade setup that happens 80% of the time.

Fade setups are high success setups but require a more conservative size in my opinion. Fades can run against you and it's easy to fall into the trap of "adding in".

This leads to my next analysis; knowing the transition point between fade and breakout/trend.

Even though trend/breakout happens 20% of the time, it's important to be able to play this setup correctly because this is THE MONEY MAKER. I tend to put more size in confirmed setups. But at the same time, only playing trend/breakout will be a losing strategy in my opinion since you'll be giving back the gains when market corrects itself to the preferred range environment most of the time.

Hence, it's important to learn BOTH the range and the trend/breakout setups and knowing when that transition happens. Your strategy needs to have both setups in play without contradicting each other to make it a robust trading system.

Playing just 1 type of setup is why I think most traders lose in the long run.

Once you figured out the strategy, the other 20% of the approach is trader psychology. Things like tilting, breaking the rules, ego with size, impatience with account growth are all things that you need to work out as you trade over time. Human beings are not perfect, but with time you should be able to identify your triggers and work to minimize the occurrence.

Last point is, in trading it's important to set daily goals
For me it's a % of the daily range setups in ticks or based on the r:r on the trend/breakout setups. Whatever it is, make sure you adhere to your targets for the day, then STOP trading. The market is not a connected system. It has no memory. Once you get your target for the day, then quit or wait till the next session of the day. If you continue to trade, your expectancy will diminish as the session runs on.

https://www.forexfactory.com/thread/...me-gang?page=2
MA provides the market's current direction and strength.
  • #119,974
  • Jun 5, 2021 2:10pm Jun 5, 2021 2:10pm
After observing hilmy83 's
Live trading account history. I identify his problem.
No professional trader trade like this-

Can you identify what was his problem?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_3.png Size: 82 KB
Click to Enlarge Name: Screenshot_4.png Size: 79 KB
MA provides the market's current direction and strength.
  • #119,975
  • Jun 5, 2021 3:32pm Jun 5, 2021 3:32pm
Quoting DrDave
{quote} using two timeframes can be a great way to filter trades on the lower time frame that are retracements on the higher timeframe. You've made the first step in multiTF analysis and trading. Now you need to either switch to a charting platform that has custom TFs so that you can view H2, H8, and others. If you are too attached to MetaTrader, then you need to at least add indicators that emulate the many "missing" TFs.
Thank you very much DrDave, you are quite right and as a result of my decision back then to incorporate Multiple Timeframe analysis i had to resize my chart windows to fit into two segments one for the higher timeframe for trend analysis or to establish that a trend has actually been established before i then establish another similar trend on the lower timeframe. So my charts would look like the one below. Sir it greatly helped me as i can easily see when there is a range on the higher timeframe and then i avoid trading completely on the lower timeframe to reduce my rate of trading. You know i learnt from Nial Fuller years back that much trading brings less money due to possibility of errors while less trading but accurate brings more money.
Attached Image (click to enlarge)
Click to Enlarge Name: Sample.png Size: 145 KB
"With God all things are possible"
  • #119,976
  • Jun 5, 2021 3:39pm Jun 5, 2021 3:39pm
Quoting DrDave
{quote} using two timeframes can be a great way to filter trades on the lower time frame that are retracements on the higher timeframe. You've made the first step in multiTF analysis and trading. Now you need to either switch to a charting platform that has custom TFs so that you can view H2, H8, and others. If you are too attached to MetaTrader, then you need to at least add indicators that emulate the many "missing" TFs.
Then again DrDave i found an indicator which could show me the TDI on four hour chart on the one hour chart or fifteen minute chart. Its called the floating indicator. And i discovered that in MT5 there are those timeframes you mentioned correctly such as 8H and 12H and others. But Sir you know in selecting timeframe for Multi analysis the x4 or x6 rules is the best. For example if I use 15 minute chart for entries and exits, my higher timeframe chart will be one hour. This is because the 15 minute char is about 4 times of the one hour chart. Or when i use one hour chart i use the four hour chart because it takes four hours of one hour char the then the higher timeframe is 4 hours. I found them to be very useful but of late i am no adding all three in my analysis and it is why i am trying to see if I can get the floating indicator for MT5. I will upload the screen shot of the floating indicator soon. Thank you very much for your comments.
"With God all things are possible"
  • #119,977
  • Jun 5, 2021 3:43pm Jun 5, 2021 3:43pm
Quoting hasib
After observing hilmy83 's Live trading account history. I identify his problem. No professional trader trade like this- Can you identify what was his problem? {image} {image}
Its like he is buying and selling at the same time, no directional bias Sir? Am a bit confused...i see buy and sell at the same time....
"With God all things are possible"
  • #119,978
  • Jun 5, 2021 7:52pm Jun 5, 2021 7:52pm
Quoting Sammforeal
{quote} Then again DrDave i found an indicator which could show me the TDI on four hour chart on the one hour chart or fifteen minute chart. Its called the floating indicator. And i discovered that in MT5 there are those timeframes you mentioned correctly such as 8H and 12H and others. But Sir you know in selecting timeframe for Multi analysis the x4 or x6 rules is the best. For example if I use 15 minute chart for entries and exits, my higher timeframe chart will be one hour. This is because the 15 minute char is about 4 times of the one hour chart....

"you know in selecting timeframe for Multi analysis the x4 or x6 rules is the best. For example if I use 15 minute chart for entries and exits, my higher timeframe chart will be one hour. This is because the 15 minute char is about 4 times of the one hour chart. Or when i use one hour chart i use the four hour chart because it takes four hours of one hour char the then the higher timeframe is 4 hours."

Very correct to use 4:1 ratio in timeframe selection and this "Triple Screen System" approach taught by a real doctor named Dr Alexander Elder and other qualified trading coach and psychologist.

3 pdfs on this Tripe Screen System approach, why Three screens are better than One.

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One of my favourite traders magazine is this:
Forex Trader Magazine

your can read one of their old July to September edition.

https://content.yudu.com/libraryHtml...38/reader.html
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,979
  • Jun 5, 2021 7:58pm Jun 5, 2021 7:58pm
Quoting emmanuel7788
{quote} "you know in selecting timeframe for Multi analysis the x4 or x6 rules is the best. For example if I use 15 minute chart for entries and exits, my higher timeframe chart will be one hour. This is because the 15 minute char is about 4 times of the one hour chart. Or when i use one hour chart i use the four hour chart because it takes four hours of one hour char the then the higher timeframe is 4 hours." Very correct to use 4:1 ratio in timeframe selection and this "Triple Screen System" approach taught by a real doctor named Dr Alexander...
Thank you Sir... Hmnn do you know that i have this pdf book by Dr Alexander Elder and i have not fully read it? I will start reading it straightaway!! Thank you very much Sir once more.
"With God all things are possible"
  • #119,980
  • Jun 5, 2021 8:11pm Jun 5, 2021 8:11pm
Have you all read the G7 summit report news yet?

Now do your Sunday weekend homework and see how pairs are in sideways ranging Market Type when last week' New York Close,

https://www.forexfactory.com/thread/...8#post13569568

those trading US Indices, you will be rich in the coming weeks until the next Q.GDP data release.

then be prepared to trade the market sentiments.

4H Swing Trade with 9R potential

look for 4H Swing into Daily/Weekly Swing
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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SanAshi