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Trading the Cable swings via averages

  • #7,381
  • Dec 1, 2021 8:30am Dec 1, 2021 8:30am
Quoting Pettra
{quote} Can you explain to me how to use the Alans_target indicator please? It draw like 50 lines on the chart and I have no idea what Triangle_MaxSize, Active_Triangles, etc. mean. Thanks a ton {image}
I usually draw mine in by hand but the indicator is a good option if you don't know how to draw it.

What it does is that it points out a special kind of divergence which very often has a specific target to attack.

The lines you are seeing are the 50% target level and the 100% target levels in both directions. So if one is indicated on the 1 hour chart these levels become ZOO points for considering on the lower time frames.

Here for example is a very long term one on the monthly I have just drawn in for you.
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The monthly chart is far too long for my tastes so I limit myself to the 1 hour but that is not to say I don't keep an eye on these higher time frames.

You should note the distance from A to B is the same as the distance from C to D.

And B and C are on opposite sides of the EMA which is a divergence.
  • #7,382
  • Dec 1, 2021 8:30am Dec 1, 2021 8:30am
Quoting Pettra
{quote} Can you explain to me how to use the Alans_target indicator please? It draw like 50 lines on the chart and I have no idea what Triangle_MaxSize, Active_Triangles, etc. mean. Thanks a ton {image}
Change the "Activate_Rectangles" to False and you should be good.
  • #7,383
  • Dec 1, 2021 8:45am Dec 1, 2021 8:45am
Here is another on the monthly (yellow) Taking some 3 months to get to the target D1. You will note when t almost got to the 50% level the price retraced upwards. This would have shown as a long trade at the lower time frames before it again turned south to run to its target. It couldn't close below D1.
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  • #7,384
  • Dec 1, 2021 8:51am Dec 1, 2021 8:51am
Quoting Fantaburk
{quote} Change the "Activate_Rectangles" to False and you should be good.
MMM I have version V1.8 and don't see an Activate Rectangles, so maybe mine is out of date.
  • #7,385
  • Dec 1, 2021 9:58am Dec 1, 2021 9:58am
I've got the 2.1V and the rectangles-bit causes boxes and lines all over the price action. I have yet to figure out what it is for.
  • #7,386
  • Dec 1, 2021 3:00pm Dec 1, 2021 3:00pm
Quoting Nala66
{quote} I usually draw mine in by hand but the indicator is a good option if you don't know how to draw it. What it does is that it points out a special kind of divergence which very often has a specific target to attack. The lines you are seeing are the 50% target level and the 100% target levels in both directions. So if one is indicated on the 1 hour chart these levels become ZOO points for considering on the lower time frames. Here for example is a very long term one on the monthly I have just drawn in for you. {image} The monthly chart is far...
Thanks Alan, this is what I have with Alan_Targets 1.8. I have no idea why it trigger an alert, so have to test

The reason I want indicator is for the alert, I can't sit all days to wait for the signal comming from H1. But it seems like you dont have the alert as well, what time of the day you start looking for signal? I'm in NZ so only 2 hours different with you.

I only read to page 50 so have no idea what ZOO point is. It hard to simulate the trade you did back then since history data not exist anymore, if possible please post any trade you have daily so I can try to understand, much appreciate.
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  • #7,387
  • Dec 1, 2021 3:04pm Dec 1, 2021 3:04pm
Quoting Fantaburk
I've got the 2.1V and the rectangles-bit causes boxes and lines all over the price action. I have yet to figure out what it is for.
Can you enlight me what they are for? For example what are those Rectangles and Triangles? the indicator so messed up but it's the only one I have now. Thanks
  • #7,388
  • Dec 1, 2021 5:00pm Dec 1, 2021 5:00pm
The triangles are that red one you have in the picture on your last post. The rectangles I don't know actually. But they are not needed for the strateg.

However the alert is not a reason to take a trade in itself, you have to be at the screen. Rarely more than 3 hours have so far been enough for me to make profit, altough I'm not making the 40 pips Alan does.
  • #7,389
  • Dec 1, 2021 5:05pm Dec 1, 2021 5:05pm
Quoting des_b
{quote} Triangle_MaxSize is the maximum number of bars to be considered before drawing a triangle, 48 seems to work pretty well, if the indicator is drawing too Many lines try reducing Historical_Bars Cheers...Des
Can't belive I missed your reply. Thanks for the info deb. In the last version which divergence it detect? only regular div, no RSI or hidden right? Also just a quick description how it trigger the buy/sell alarm please? Cheers
  • #7,390
  • Dec 1, 2021 5:05pm Dec 1, 2021 5:05pm
Quoting Pettra
...the indicator so messed up but it's the only one I have now. Thanks
Choose
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File Type: rar Nala.rar   557 KB | 444 downloads
  • #7,391
  • Dec 2, 2021 3:37am Dec 2, 2021 3:37am
Quoting Pettra
{quote} , if possible please post any trade you have daily so I can try to understand, much appreciate. {image}
Here we see on the 1 hour price has almost hit the 4hr EMA (a ZOO point to consider)

Look to the 5 min and we have a bear div so we begin our trade with a tentative entry to the short side.

Our hope now is that price on the 5 min breaks the EMA and the bears find support below it.
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  • #7,392
  • Edited 4:51am Dec 2, 2021 4:35am | Edited 4:51am
Quoting Nala66
{quote} Here we see on the 1 hour price has almost hit the 4hr EMA (a ZOO point to consider) Look to the 5 min and we have a bear div so we begin our trade with a tentative entry to the short side. Our hope now is that price on the 5 min breaks the EMA and the bears find support below it. {image}
Thanks Alan, please help me on these:

1. when you said "1 hour price has almost hit the 4hr EMA" meaning you comparing price to EMA26 4hr? is it the pink line on your chart, how can you add an EMA26 H4 on H1 chart?
2. As in my picture, I assumed you entered one of the 2 red bar - which is extremely hard I believe would you exit when RSI div happen?
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  • #7,393
  • Dec 2, 2021 4:56am Dec 2, 2021 4:56am
Quoting Pettra
{quote} Thanks Alan, please help me on these: 1. when you said "1 hour price has almost hit the 4hr EMA" meaning you comparing price to EMA26 4hr? is it the pink line on your chart, how can you add an EMA26 H4 on H1 chart? 2. As in my picture, I assumed you entered one of the 2 red bar - which is extremely hard I believe would you exit when RSI div happen? {image} {image}
We have the number 26 for the 1 hour.

How many hours in 4 hours =4

multiply 26 by 4 = 104

So a 104 EMA on the hour chart is the 4 hour 26EMA.
  • #7,394
  • Dec 2, 2021 5:06am Dec 2, 2021 5:06am
Here is my full work for today...Done and dusted.
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  • #7,395
  • Dec 2, 2021 5:13am Dec 2, 2021 5:13am
If I was to continue on from here I would note that the 5 min just hit a bear HD with a big BUT in that the previous bear div did not cross the EMA so we should see a HH. And it just did that as I write...
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  • #7,396
  • Dec 2, 2021 5:30am Dec 2, 2021 5:30am
I have covered many ways to trade and how to target price objectives but it would prove far more beneficial to practice one or two.

I traded divergence for an entire year so I learned a lot about the subject.

I look at the chart this way...

Swing A is the last average swing high.
Swing B is the last average swing low.

If B is the climb higher than A then price should attempt to make C the next average swing high.

Then I ask can I make 40 pips from this. It is a bit tight but with hedges I should make it.
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  • #7,397
  • Dec 2, 2021 5:37am Dec 2, 2021 5:37am
Quoting Nala66
If I was to continue on from here I would note that the 5 min just hit a bear HD with a big BUT in that the previous bear div did not cross the EMA so we should see a HH. And it just did that as I write... {image}
Thank you for your time Alan. Have a good night
  • #7,398
  • Dec 2, 2021 5:56am Dec 2, 2021 5:56am
When we come to the table to begin our analysis we could draw in the daily EVENT in the form of a triangle and then look at the signals within that make our EVENT come to fruition.

Something like this....

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This is why I like to keep my chart uncluttered, I want to see my analysis clearly.

I am only using colours for your benefits, black and white is my preference.
  • #7,399
  • Dec 2, 2021 5:58am Dec 2, 2021 5:58am
OK I will leave you to digest this little lot as I toddle off.

See Y'all tomorrow
  • #7,400
  • Dec 2, 2021 3:41pm Dec 2, 2021 3:41pm
Quoting Nala66
OK I will leave you to digest this little lot as I toddle off. See Y'all tomorrow
Good morning Alan. Thanks for the hard work yesterday, I understand 100% what you said yesterday, that's a relief. Question please, have a look at my picture, don't know if I identified those correctly

1. 2 bar test found on M5 + bear div on M5 (at the same time RSI div bear on H1): entry1 and SL1 ~3pips - 0.29LOT
2. After it going down bear found support but price broke it up
3. Another bear RSI div found so we enter entry2? SL almost the same as SL1 - 0.58LOT
4. After that exit when bull RSI div found? around 13pips profit for both entry

Thanks.
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