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Time and Price Forecasting

  • #3,501
  • Jul 8, 2021 7:55am Jul 8, 2021 7:55am
Is this Chart Drawn Valid - Ok or some changes need to be made

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  • #3,502
  • Jul 8, 2021 9:17am Jul 8, 2021 9:17am
[quote=lucky1359;13618273]Is this Chart Drawn Valid - Ok or some changes need to be made {image}[/qu ote]

Good Start.....but I must say you have a lot of stuff going on there....I would remove some of the things like auto fibs as you only need a basic fib view when a retrace is clear, only show diagonals from the high, (not necessary to have diagonals from both high and low, only confuses direction, you can adjust to have both directions if it makes an obvious direction change going forward.

The reason so many traders get frustrated and make bad calls is analyses paralyses. There is so much stuff on the charts one does not know what signal to take.. compare with the chart below...are entries a bit more clear.

Today, as I have a chance, I will do a step by step on the chart below, how to get absolute precise grid....if the grid is out by only a small degree, your diagonals may be out alot....so I will get into that later today...thanks for posting!
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  • #3,503
  • Edited 10:13am Jul 8, 2021 10:02am | Edited 10:13am
Many have asked how to set the grid so it is precise....there is a way and you already have the tools in your mt4 platform to achieve this function. If your grid is out by only a fraction, it can throw out your diagonals by much when you consider the expansion from the initial wave.

To start with, one must determine a significant turning point, a place when price turned direction and totally reversed the prevailing trend. I chose a 540 pip wave (impulse) to start the measurement. Also, your daily charts are the best imho, interday charts are subject to a lot of traffic that can do all manner of gyrations to the price, so for illustration purposes, I will stay with a daily chart.

Now, we are set to go....follow the chart below for the first and second step. And be precise!!
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  • #3,504
  • Edited 10:15am Jul 8, 2021 10:02am | Edited 10:15am
Now...you have established the DNA for future measurements.

Next step are the cycles from your MT4 platform
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  • #3,505
  • Edited 10:25am Jul 8, 2021 10:02am | Edited 10:25am
Now the key to precision....you have the wave measured precisely, you have the cycles measured, only NOW is the time to overlay your chart with the grid....now you have a true picture of expansion from a major wave and you can see for yourself how accurate it is.....

What does the grid do in reality...it divides the wave by 4, it gives you an automatic fib calculations by quarters, you can expand it out by quarters, your cycles are expanded by quarter and so on and so on....your center of gravity is precise...there are tons of calculations that can be made just from the grid....but the grid must be precise to work...when it does you have a wonderful tool for analyses....enjoy
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File Type: ex4 Grid_Box_wDiagonals.ex4   45 KB | 357 downloads
  • #3,506
  • Jul 8, 2021 10:40am Jul 8, 2021 10:40am
And this is an example of what you can achieve by setting up your charts this way...while I was making up the illustration for setting up your grid, this came available just and hour ago....80 pips so far on the touch and reverse....happens all the time with this system but you have to be patient....note ADR, Big Round Number and Grid Diagonal as confluence in the short term
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  • #3,507
  • Jul 8, 2021 3:25pm Jul 8, 2021 3:25pm
Quoting Swede
Quoting lucky1359
Is this Chart Drawn Valid - Ok or some changes need to be made {image}[/qu ote] Good Start.....but I must say you have a lot of stuff going on there....I would remove some of the things like auto fibs as you only need a basic fib view when a retrace is clear, only show diagonals from the high, (not necessary to have diagonals from both high and low, only confuses direction, you can adjust to have both directions if it makes an obvious direction change going forward. The reason so many traders get frustrated and make bad
...
Swede
Not sure if you have spotted yet but that rather clever guy Jeanlouie as up graded your fav indicator to do all this automatically
  • #3,508
  • Edited 4:41pm Jul 8, 2021 3:56pm | Edited 4:41pm
Quoting OAPDave
{quote}{quote} Swede Not sure if you have spotted yet but that rather clever guy Jeanlouie as up graded your fav indicator to do all this automatically
No, I was going to approach him to see if some of this could be improve....found it and will post the upgrade

I have the upgraded indicator and the extensions are good....BUT You still need to use your Mt4 cycle tool to make sure the measurements forward from the initial impulse wave are absolutely the same width as that first wave measurement.

So, the procedure shown today to find the precise setting is still VALID AND SHOULD BE THE PROCEEDURE TO USE.
Attached File(s)
File Type: ex4 Grid_box_v1.1.ex4   50 KB | 374 downloads
  • #3,509
  • Edited 10:56pm Jul 8, 2021 10:39pm | Edited 10:56pm
Thank you swede for information about impulse wave. I have experimented and tested most waves in the index omx H1 that i am trading. When i find a impulse wave i almost instant see that price respect angels and levels. My question is how long should i hang on to just that impulse wave? If there is another fine wave within my grid that should i just change and use that? The angels and grids from the first impulse wave go on forever. In the picture you see my "best" grid and angels but I am tempted to use a more recent swing.
Feel free to comment

https://s3.tradingview.com/snapshots/n/NDmhbbdn.png

Latest wave

https://s3.tradingview.com/snapshots/q/QK3rXNzo.png
  • #3,510
  • Jul 9, 2021 7:41am Jul 9, 2021 7:41am
Quoting Joswe
Thank you swede for information about impulse wave. I have experimented and tested most waves in the index omx H1 that i am trading. When i find a impulse wave i almost instant see that price respect angels and levels. My question is how long should i hang on to just that impulse wave? If there is another fine wave within my grid that should i just change and use that? The angels and grids from the first impulse wave go on forever. In the picture you see my "best" grid and angels but I am tempted to use a more recent swing. Feel free to comment...
Great post, not hard to see some excellent entries.....to answer your question one has to look at the wave and ask yourself a few questions....is the move a major move or just a normal oscillation? Does price respect the diagonals drawn, has there been a bigger swing that should be measured...what time of day is it and so on? that is where discretion comes into play....looking at your charts your last wave seems to be more significant now...why? Because it was greater than the last wave and it was tested strongly...(see upper pinbar and lower pinbar) see how it plays out....you can always have two charts running to gauge the accuracy going forward and for your own training.

Your cycles are bang on....great alert for you the trader if your thinking the trend will continue when its at the end of a normal oscillation cycle....you then need to cash out, or consider counter trend and so on....Looking at your last chart...notice how the cycle had completed and price kept rising for a few more hours, then hit the 1 x 1 and reversed.....great great trade and this is what Time and Price can do for you.....

Keep posting...anyone can see how accurate your set up is .......
  • #3,511
  • Jul 9, 2021 8:00am Jul 9, 2021 8:00am
Had to make this chart of the day for the second time this week for obvious reasons...the bounce ( up over 100 pips)and the call from Tuesday..( + 300 pips)
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  • #3,512
  • Jul 9, 2021 12:34pm Jul 9, 2021 12:34pm
Quoting Joswe
Thank you swede for information about impulse wave. I have experimented and tested most waves in the index omx H1 that i am trading. When i find a impulse wave i almost instant see that price respect angels and levels. My question is how long should i hang on to just that impulse wave? If there is another fine wave within my grid that should i just change and use that? The angels and grids from the first impulse wave go on forever. In the picture you see my "best" grid and angels but I am tempted to use a more recent swing. Feel free to comment...
My 2 cents on OMXS30 - 60 mn
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  • #3,513
  • Jul 9, 2021 12:46pm Jul 9, 2021 12:46pm
Quoting Joswe
Thank you swede for information about impulse wave. I have experimented and tested most waves in the index omx H1 that i am trading. When i find a impulse wave i almost instant see that price respect angels and levels. My question is how long should i hang on to just that impulse wave? If there is another fine wave within my grid that should i just change and use that? The angels and grids from the first impulse wave go on forever. In the picture you see my "best" grid and angels but I am tempted to use a more recent swing. Feel free to comment...
Use Envelopes to qualify "Waves" : to rationally classify and hierarchize Waves as of the same order, degree, nature

Use Envelopes to estimate very precisely Waves amplitude potential
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  • #3,514
  • Jul 9, 2021 12:51pm Jul 9, 2021 12:51pm
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  • #3,515
  • Jul 9, 2021 12:53pm Jul 9, 2021 12:53pm
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  • #3,516
  • Edited 3:33pm Jul 9, 2021 3:09pm | Edited 3:33pm
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We like to look right and often forget to look left
Attached File(s)
File Type: ex4 PZ_QuadrantThesis.ex4   18 KB | 385 downloads
  • #3,517
  • Jul 9, 2021 5:27pm Jul 9, 2021 5:27pm
Quoting OAPDave
{image}{image}{image} {image} We like to look right and often forget to look left {file}
Hello my friend! Can I get a complete template with settings and a bottom indicator?
  • #3,518
  • Jul 10, 2021 1:26am Jul 10, 2021 1:26am
Quoting wens
{quote} Hello my friend! Can I get a complete template with settings and a bottom indicator?
Just a very simple Consecutive Candle Counter which helps my eyes
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  • #3,519
  • Edited 10:28am Jul 10, 2021 10:17am | Edited 10:28am
Quoting OAPDave
{quote} Just a very simple Consecutive Candle Counter which helps my eyes {file} {image} {image}
Dave, since you pretty much trade the Pound Dollar, how does your candle count help you pull the trigger? What is it that alerts you it’s time to pay attention? I’m interested in your take.
  • #3,520
  • Jul 11, 2021 5:45am Jul 11, 2021 5:45am
@ Swede

Would you have taken a buy trade at the grid center? If so, where would you have placed your stop-loss?
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