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Trading PlanetX & Oscillators

  • #421
  • Mar 22, 2022 8:07am Mar 22, 2022 8:07am
To all...

The past few days, we have been trying to get around oscillators. Parisboy, R4m, BTEv e.t.c have contributed immensely in different capacity. However, I feel things are a bit stuck. There is a bit of disjointed argument over the Focal Point concept. Parisboy and R4m seem to be aligned on the concept and the 2 have fleshed out what used to be some alien concept which Parisboy has been showing on his charts. The contention between some parties on the thread is polluting the progress of the conversation and unfortunately, I have to make a choice. Be nice to everyone and allow the thread to derail into some gladiators arena or be a bit rude for a brief time so that something good can be allowed to thrive. I go with the later.

I need not say more. I will therefore ignore BTEv for a while. I tried for things not to get this far so all can be involved but if I don't do this the thread will degenerate and I would not want that for the sake of the readers. In a few more days, I expect R4m, Parisboy and other contributors to reach some reasonable conclusion on a useable indicator that represents the Focal Point concept. I will not permit any further noise.

I apologise for this needed action.

Cheers,
BD.
  • #422
  • Mar 22, 2022 8:56am Mar 22, 2022 8:56am
Hi guys,

Thanks for the great work and insights.

@robots4me is there any chance you can add number of bars for the 'OIY-PlanetX-Hist-v8.0.ex4' indicator?

Reason is simply to be able to back test. I hope this is a small change to an already great indicator!

Thanks in advance.
  • #423
  • Mar 22, 2022 11:23am Mar 22, 2022 11:23am
Quoting BestTraderEv
Actually, the guys here were ridiculing me for "KnowItAll", yet I want to show you something. This is what I was saying before, that the MA's are derived from the charts, not the other way. This is what I mean: MA's model what's on the charts. On the charts we have trending candles/patterns and ranging candles/patterns. If we understand that there are only various ranges, the whole market is a range, then we can start looking for markets inside markets (High to Low). So, do we really need those MA's in order to plot what I have shown above? No,...
@besttraderev, what a disgracefull way of learn a lesson" MR KNOWitALL"
  • #424
  • Mar 22, 2022 5:01pm Mar 22, 2022 5:01pm
The Focal Points strategy deserves a thread of its own -- its a shame that @BestTraderEv insisted on corrupting the original strategy for the purpose of creating something in his name that is totally unrelated. I'm interested in sharing with y'all a new strategy and tool -- for which I am indebted to @parisboy -- and have no desire to constantly battle with the best trader ever. So, with @bishopdotun's blessing, I'm migrating my interpretation of the Focal Points strategy to a new thread: "Trading Focal Points -- A Leap Of Faith..." (https://www.forexfactory.com/thread/...-leap-of-faith).
  • #425
  • Edited 2:09am Mar 23, 2022 1:47am | Edited 2:09am
SMA Intersections (SMAI)

R4m made this indicator.
This indicator is a by-product of Focal Point conversation. Now that focal point has moved to its new home, we can continue PlanetX and SMAI.
SMAI plots areas where there is interactions between 2 or more SMAs within neighbouring bars. There are 2 settings:
- FocalPoint Size (in bars): Number of bars within which the SMA must have interacted with a bar. I use 8.
- FocalPoint Strength: Number of SMAs to have interacted with neighbouring bars. I use 2.
- Toggle Back-shifting: True or false to back-shift the MA. I set this to false to use recent SMA data.

I have added SMAI to the PlanetX tool box on the first post.
Swing Direction: Direction of the most recent SMAI swing sets the direction of trade
Entries and Exit: PlanetX
Warning: I have preference for EURAUD / M30

EURAUD M30
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-03-23 at 06.45.34.png Size: 573 KB

Attached File(s)
File Type: ex4 R4M-SMA-Intersections.ex4   60 KB | 489 downloads
  • #426
  • Mar 23, 2022 2:04am Mar 23, 2022 2:04am
Example

GBPJPY M30
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-03-23 at 08.02.16.png Size: 657 KB

The annotations on the chart are self explanatory.

Trade wisely.
  • #427
  • Mar 23, 2022 2:14am Mar 23, 2022 2:14am
Another example.

- SMAI: sets direction
- PlanetX: entries and exits

Adjust your lot size accordingly.

AUDJPY M30
Attached Image (click to enlarge)
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  • #428
  • Mar 23, 2022 4:14am Mar 23, 2022 4:14am
Quoting bishopdotun
Example GBPJPY M30 {image} The annotations on the chart are self explanatory. Trade wisely.
Now you get the short swing in play...

GBPJPY M30
Attached Image (click to enlarge)
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GBPUSD M30
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  • #429
  • Mar 23, 2022 9:12am Mar 23, 2022 9:12am
These are other examples:

- SMAI: sets direction
- PlanetX: entries and exits

Swing - Short

AUDCHF - M30
Attached Image (click to enlarge)
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NZDJPY - M30
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USDJPY - M30
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  • #430
  • Mar 23, 2022 9:38am Mar 23, 2022 9:38am
Quoting parisboy
Opened Long Position {image}
EURUSD - M30
Attached Image (click to enlarge)
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I would rather maintain the short position for the moment.
  • #431
  • Mar 23, 2022 10:03am Mar 23, 2022 10:03am
Quoting bishopdotun
{quote} Now you get the short swing in play... GBPJPY M30 {image} GBPUSD M30 {image}
I am not getting the same signals, as you have, though in the more-or-less the same places.
This is another thing I have noticed, that even moving averages do not plot the same on different brokers.
Attached Image (click to enlarge)
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #432
  • Mar 23, 2022 10:10am Mar 23, 2022 10:10am
Back to our topic, I took this trade, today. Oscillators did help in the sense that I did not dare trade against them.
Otherwise, it was the market that the price broke down from, and the identification of the new market the price was trading in. So, it was like this:
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 546 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #433
  • Mar 23, 2022 10:16am Mar 23, 2022 10:16am
Now, this is being traded.
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 550 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #434
  • Mar 23, 2022 10:22am Mar 23, 2022 10:22am
And EURAUD H1 is also playing out - not Long, like someone wanted...
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.jpg Size: 293 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #435
  • Mar 23, 2022 10:46am Mar 23, 2022 10:46am
Quoting BestTraderEv
And EURAUD H1 is also playing out - not Long, like someone wanted... {image}
Time frame you are trading matters. A long signal on M1 can just be a failed reversal on H1. The M1 trade would have profited. That does not necessarily invalidate the H1 signal. The market consist of cycles within cycles. You just need to trade what suits your style.
  • #436
  • Mar 23, 2022 11:10am Mar 23, 2022 11:10am
Quoting bishopdotun
{quote} Time frame you are trading matters. A long signal on M1 can just be a failed reversal on H1. The M1 trade would have profited. That does not necessarily invalidate the H1 signal. The market consist of cycles within cycles. You just need to trade what suits your style.
If I may comment about these SMAI, without anybody getting insulted, you also need to be able to place those SMA's into a specific context. They will only work in a sideways market, and in a specific range. If the market is trending, and/or out of that range, you need to look for further, longer values of SMA's. Of course, you can follow the same pattern of peridos and shifts. Nevertheless, the secret does not lie in the SMA's themselves, but rather in the skills of the trader who needs to adjust their indicators to their markets they are trading.

The person I alluded to made a Long trade on M1, yesterday, then got crushed by the market miserably, and removed the charts from this thread. I saw it. Others might have not. I have some evidence, because I liked one of those posts, so the info is in my profile stats. And it links to nothing, now.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #437
  • Mar 23, 2022 11:50am Mar 23, 2022 11:50am
Quoting parisboy
{quote} No need to "allude". the "person" suppressed his posts because a) I do not post anymore on this subject (Focal Points and CMA) here Robots4me having started a specifc thread (without you) b) I posted here today because I was too quick and did not pay enough attention to the fact that both threads begin by Trading etc. I will try to be more cautious in the future c) as Swede who I know from another thread answered me on these posts, Bishopdotun who is the OP here too., I will leave them here some hours, then I will delete them. d) I am "crushed"...
I am that way, sorry that you can't accept that people may be different.
You see, I actually cared to study your presented ideas and I was saying exactly the same things you were saying, but some others said I was saying something different.
I am not saying that the FP's etc. don't have their application, they do.
It is you who doesn't want to listen to anybody, because You Know The Best!
I regret this outcome, but this is my last post directed to you.
Good Luck at your hobby! Have fun.

BTW. I made a fun indicator with the SMA's!
And, I do have question to you, but you won't answer.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #438
  • Mar 23, 2022 11:57am Mar 23, 2022 11:57am
Quoting BestTraderEv
{quote} I am that way, sorry that you can't accept that people may be different. You see, I actually cared to study your presented ideas and I was saying exactly the same things you were saying, but some others said I was saying something different. I am not saying that the FP's etc. don't have their application, they do. It is you who doesn't want to listen to anybody, because You Know The Best! I regret this outcome, but this is my last post directed to you. Good Luck at your hobby! Have fun. BTW. I made a fun indicator with the SMA's!
Only few hours and you have corrupted this space again. Now I will permanently ignore you. You have your own thread. You can post all your content there. I wish you all the best. I need this space to be without conflict.
  • #439
  • Mar 23, 2022 12:19pm Mar 23, 2022 12:19pm
Quoting bishopdotun
{quote} Only few hours and you have corrupted this space again. Now I will permanently ignore you. You have your own thread. You can post all your content there. I wish you all the best. I need this space to be without conflict.
Sorry my fellow traders....I thought I was in Parisboys thread...I will remove my posts here today.

By the way, anyone who gets "crushed" is either a fool or is not trading with stops...simple as that.
  • #440
  • Mar 23, 2022 12:33pm Mar 23, 2022 12:33pm
Quoting Swede
{quote} Sorry my fellow traders....I thought I was in Parisboys thread...I will remove my posts here today. By the way, anyone who gets "crushed" is either a fool or is not trading with stops...simple as that.
Come on -- "crushed" is a relative term. @parisboy is a humble man and he was just reminding less experienced traders that even an experienced trader has losses. And please don't bring up StopLosses -- a totally unrelated topic. And from your comment it's clear you are what is called a one-trick pony. Have you ever heard of money management? What about algorithmic exits? Different trading styles benefit from different approaches to SL.
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