Comprehensive Technical Analysis expert Mahal

9

i think i need to start learning Arabic.

Dear Al-Otaibi,
Are these for auto trading?

Yes
Something like Grid trading but based on indicator,

Completed 90%
S/R RED
S/R ORANGE

g

Dear Al-Otaibi,
These are some trades i've set up today from what i saw from E-101 indicator.
Indeed, your TECHNICAL EXPERT helps me scan the market in seconds.
That's very kind of you to share us this powerful tool. Thank you so much, Al-Otaibi.

try not to focus on trading functions. usualy final results will not be good.
use it as a market scanner

You are a master of visualization.
Will appreciate it if you can develop a user-friendly tool (not for trading) but for exploring probabilities and past patterns.
I mentor retirees free of cost as part of a non-profit community organistion.
I have done a free simple course of buying options for risk-averse investors. I have sent you the link by PM.

Now I am developing a simple course for trading futures for them to use it to make passive income.
I will appreciate your help.
I base most of my decisions on data. The course will focus on using skills and lean pockets to generate part-time income.

Scalping with non-directional bias needs to keep the brain active and with no confusion. It will be based on the 1-year demo trades used by the retiree learners using their own skills of planning trades following patterns detected by the attached past statistics excel sheet generating indicator. I have attached mql.

They are doing well trading manually with no directional bias. But finding it difficult to trade enough to make a decent income.
It is for them I have planned a futures trading course with the theme of Mind and Machine.

Plan like a human, trade like a machine is my core method where I plot trades manually on demand (no preparation is needed) and restrict myself to the role of a machine operator who will start the machine at a time when my brain gives me signals by identifying suitable spots to deploy the machine.

The machine will never be used for generating signals. Only for executing trades rapidly.
Algo bots work with speed to execute trades quickly and rapidly. Execution is set with a system of Entry and Exit using past data and patterns for trade planning.
The advantage of using a machine is that your mind remains in control of the situation and is free to see how the price action is moving the market and arousing emotions. You will have to thank the machine for affording you the freedom to think and plan locations where the machine needs to work.

Machines can facilitate capturing a sizable portion of a price range formed by price movements moving in increments of tiny sizes in such a way that unless they reach a size that can be traded in a cost-efficient manner, you can't trade. You can’t trade 2 or 4 or even 6 pips movements because the buying and selling spread plus broker fee at any time is more than 6 pips. Economical trade size should be one that can cover spread, broker fee and leave at least 60% of gains as net income.

The results from one year of manual trading of fixed size grids is astounding. I don't know Excel or any programming language. I have been helped by FF member BlueRain for producing the statistics indicator. I am now requesting to improve the statistics indicator to catch Buy Low and Sell High (Buy Limit) and Sell High and buy low statistics.

When you make a count of 1440 bars, each moving in a single minute generates from 0 to 30 points for DAX index and end up open to close with a total of 148 points in 1440 minutes of trading. It is amazing that the length of the one minute price candle traveled - up, down & sideways - covering 21,265 points while ending the day (1440) minutes at an average return of only 148 points or less than one-quarter percent of the sum total of 21,255 points.

It can be compared to the making of home made condensed milk - thick and creamy where milk is boiled, simmered and reduced to some kind of a thick paste. Volatility is like boiling or simmering milk.

You will be able to visually see how the price levels zig zag, changing directions at various times, giving no idea whether it is traveling up or down or is lost in the traffic (volume) but the retirees in one year practice of catching trades manually are not finding it difficult to do.

Trades with smaller sizes that naked eyes may not be able to detect easily and conclude all such ranges as No Trades in small price movement zones were being detected by the traders with an effort and strain on eyes. They made a profit from them but not so much because human execution of trades continuously has big limitations. Planning pending trades manually and very quickly is not feasible. Only a bot can help in executing trades like a machine gun shooting bullets rapidly. It is not martingale trading. Fixed lots are traded. Not of variable size and certainly not with doubled or tripled like martingale requires.



Any grid trading EA (not martingale one) should be able to get the most out of it before it is reduced to the daily average range. I am working on getting a simple grid trader coded.

I derive edge from historical statistics gathered (not patterns) . Specifically, that help in determining entry size, TP size, Stop loss size, the frequency of pullbacks happening on the long side and low side. The theme is Buy Low, Sell High or Sell High Buy Low. 85% of the time market consolidates or trades in ranges. So my focus is on identifying the Sideways market by known active hours, measuring Outliers in pip sizes and the counting frequency in M1 chart on a daily basis. Measurement is by PIPs. No moving average or any oscillator is used.

Presently, the Intention is to find out the past frequency of Sideways market: what are active hours to trade; and during active hours how many times pullbacks or retracement takes place, how many times Repurchases or Resells happen (you can call it revisits as well price moves counted within a defined xxx pips range).
Identify Outlier bars: Positive Bulls and negative Bears by bar size-frequency and hours it is happening.

Link between the Outlier bar (Accumulation phase) and smaller bars ( Distribution phase) on the frequency and hours of frequent happening, Pips gathered Positive Bulls and negative bears in defined time.

1440 bars collect data but I don't know how to filter or manipulate data to get desired statistics or insert the columns and fields.

Attached Image (click to enlarge)

Attached is the indicator.
You are a master of Excel and visualization on MT4 platform.
I shall be thankful if you can help me out.
Thank you.

Swing size calculation is quite important as an input to feed the grid bot.

Swing size should be such that it can happen rapidly.

Manually, during one year of demo testing by retiree/elderly traders, they were selecting a range by looking at the chart after the a big movement of at least 30% of daily high low has happened. They then assume sideways will move for 1/3 of it or 10% of the day range. Then they break down 10% in 4 ranges and see if each grid size is cost-effective. That method worked very well except that they find it consumes a lot of their time on watching the screen as well as only trading manually.

This method of scalping or day trading requires only finding Outliers (big candles) and wait for brekout or breakdown to pass away. The elderly enjoy this kind of less stressful trading in a systematic way without doing any kind of analysis. The elderly also find that this kind of trading gives their brain work to do and is stimulating.

No need to analyze news except to keep an eye on the data calendar and keep count of events to avoid situations where trending can happen and not trade.
Focus is on trading in a non-trending environment.
No technical analysis is required. No oscillators or dependency on indicators is needed. The elderly have their own reasons for using brains rather than depend on signals.

The Sideways statistics collection is important. Most important is to collect data on revisits being made to certain price levels. This helps planning the size of entry and exit, size of equity loss or stop loss. When market is waiting for job report the consolidation lasts for hours altogether. You may think there is no trade happening but the retiree traders made most of their profit stress-free finding ways to trade small trades. It is during such trading, they found some price levels are revisited often. For instance, one trader used 30 points High Low range and divided into 3 grids , each of 10 points. He found that during six hours of consolidation, some prive levels were visited 50 times. which means 1 trade is able to generate 50 trades, each of 10 pips profit, total sum being 500 pips. This kind of observation was made by them and that is when I realised how useful a simple grid EA can be useful.


What do I mean by revisit is visualised here:

H/L 15% completed

l

9

So colorful !!!

EACH color has a meaning,
and each two colors for the same bar-widh, has opposite meaning : direct or retest of broken S/R

H/L --- High/Low
20% Completed.
automatic line draw of support and resistance
external variables option to the right TEST/SEARCH/PROXIMITY

F

wish i understood this lol, like your thread btw

i think it is better now
25% completed!
the last five tops/bottoms (Highs/Lows) (H S/R)

g

Later we will use my revolutionay theory "FALLING PILLARS" to draw the TRENDS/CHANNELS as human draw.

you will realize later it is a revolution, since it solves some of programming problems when drawimg the trend as human do.