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Trading Focal Points -- "A Leap Of Faith"...

  • #281
  • Mar 30, 2022 4:21pm Mar 30, 2022 4:21pm
Quoting FundedCoffee
{quote} Now add the double bottoms and we are getting dizzy of the signals we are getting from the indicator. Dont get me wrong, I know what you want to say with it. It's just going to be a problem to code it in a way that it wont clutter the chart with 300signals.
The new R4M-Double-TopBottom indicator is intended to be used alone -- NOT in conjunction with the Focal Point indicator. So, just 3 SMA lines and a few yellow X's...
  • #282
  • Mar 30, 2022 4:24pm Mar 30, 2022 4:24pm
Quoting parisboy
Russian Dolls : Double Tops within Double Tops Jim Tillman and Double Tops When there is a double bottom or a double top, you should consider that there might be a cycle changing direction half-way between those two points. {image} {image} {image}
Double Tops within Double Tops -- reminds me of @George's fractals. I'm not going down that path...
  • #283
  • Mar 30, 2022 4:33pm Mar 30, 2022 4:33pm
Quoting FundedCoffee
Instead of actually adding more variations I would be interested into filtering them more. Parisboy, if I were to ask you if you could tell me what double tops/bots you like the most to trade, what would be your answer? What DT/DB makes you go "damn I must enter this one"?
Greed !

The potential amplitude of the Swing.

You have cost of operation (fee)
You do not enter optimally
However as the trade develops itself you can anticipate a decent target

It is easier to grab 30/40 points on a 100 swing that 3/4 on a 10 points Swing
  • #284
  • Mar 30, 2022 4:33pm Mar 30, 2022 4:33pm
Quoting robots4me
{quote} Double Tops within Double Tops -- reminds me of @George's fractals. I'm not going down that path...
Who is George ?
  • #285
  • Mar 30, 2022 5:23pm Mar 30, 2022 5:23pm
Next version of the DTB indicator. Now it's getting closer to detecting a valid, though simple Double Top / Bottom. Algorithmically, I'm defining a DTB as a 16x32x64 crossing followed by two 16x32 crossings. In the chart below 16x32x64 crossings are marked with a yellow 'X' and 16x32 crossings are marked by 'O'.

Attached Image (click to enlarge)
Click to Enlarge Name: DoubleTop-16x32x64-plus-16x32-crossings.png Size: 59 KB

Attached File(s)
File Type: ex4 R4M-Double-TopBottom-v.1.ex4   64 KB | 316 downloads
  • #286
  • Mar 30, 2022 5:36pm Mar 30, 2022 5:36pm
As @parisboy has pointed out, not all DTB's are created equal -- so, there remains a fair amount of discretion involved. However, when you spot a good one, it's almost as good as gold. I've yet to see a "good" DTB end as a loser. However, you have to get in early because we still don't have a guesstimate Target Price and the DTB might change at any time.

Rather than lots of little trades, I'm thinking the best way to trade DTB is to find an attractive looking one -- there are plenty if you search all 28 pairs -- and trade a larger lot size.
  • #287
  • Mar 30, 2022 6:44pm Mar 30, 2022 6:44pm
Double Tops and Simmetry
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  • #288
  • Mar 30, 2022 6:51pm Mar 30, 2022 6:51pm
Jim Tillman and Double Tops

When there is a double bottom or a double top, you should consider that there might be a cycle changing direction half-way between those two points.
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Click to Enlarge Name: screenshot.png Size: 151 KB
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  • #289
  • Mar 30, 2022 6:58pm Mar 30, 2022 6:58pm
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  • #290
  • Mar 30, 2022 8:59pm Mar 30, 2022 8:59pm
Updated version of the Double Top / Bottom indicator -- I'm not sure how much further I can take it. The one thing it still misses is a guesstimated Target Price. This version identifies the most RECENT Double Top / Bottom, where a DTB is defined as: a 16x32x64 crossing, followed by two 16x32 crossings.

The indi draws a yellow line from the 16x32x64 crossing to the second 16x32 crossing. In the case of a Double Top, I'm thinking that a reasonable SELL entry would be at the Close of the first bearish bar after the second 16x32 crossing. And that is what I've shown in the chart below. Keep in mind this is hot of the press. I'm curious to learn whether this works for others, as well.

Attached Image (click to enlarge)
Click to Enlarge Name: Identify-DTB-01.png Size: 68 KB

Attached File(s)
File Type: ex4 R4M-Double-TopBottom.ex4   66 KB | 322 downloads
  • #291
  • Mar 30, 2022 9:10pm Mar 30, 2022 9:10pm
Quoting robots4me
Updated version of the Double Top / Bottom indicator -- I'm not sure how much further I can take it. The one thing it still misses is a guesstimated Target Price. This version identifies the most RECENT Double Top / Bottom, where a DTB is defined as: a 16x32x64 crossing, followed by two 16x32 crossings. The indi draws a yellow line from the 16x32x64 crossing to the second 16x32 crossing. In the case of a Double Top, I'm thinking that a reasonable SELL entry would be at the Close of the first bearish bar after the second 16x32 crossing. And that...
ah I just realise you are the author of the famous R4M indicators.

Thank you for sharing the DB DT indicator.

I use RM_detective which has reported an out of range error would it be possible you can spend some time looking in to it, could be you make it running smoother or faster: "2022.03.31 02:59:42.981 R4M-Detective EURUSD,M5: array out of range in 'iCustom_FractalLevels.mqh' (1022,21)"

There is also MTF_detective so mystic I could not find a document showing how to use it effectively, maybe you have one?
  • #292
  • Mar 30, 2022 9:21pm Mar 30, 2022 9:21pm
Quoting ntk
{quote} ah I just realise you are the author of the famous R4M indicators. Thank you for sharing the DB DT indicator. I use RM_detective which has reported an out of range error would it be possible you can spend some time looking in to it, could be you make it running smoother or faster: "2022.03.31 02:59:42.981 R4M-Detective EURUSD,M5: array out of range in 'iCustom_FractalLevels.mqh' (1022,21)" There is also MTF_detective so mystic I could not find a document showing how to use it effectively, maybe you have one?
@ntk -- thanks for the good word, but you are treading on thin ice. This thread has absolutely nothing to do with the other indicator -- that was developed in a previous life. Try a different pair or time frame. I hope my message is clear...
  • #293
  • Mar 30, 2022 9:36pm Mar 30, 2022 9:36pm
Hello robot for me i uses a MT4 app to trade I dont have this kind of indicator that you have is there any how you can help me but I have the one meta editor can it work with my mt4
  • #294
  • Mar 30, 2022 9:56pm Mar 30, 2022 9:56pm
Quoting Enagy
Hello robot for me i uses a MT4 app to trade I dont have this kind of indicator that you have is there any how you can help me but I have the one meta editor can it work with my mt4
@Enagy -- if you don't realize that this is an MT4 indicator and if you don't know how to download and install it then:
(a) You aren't ready to trade with it, and
(b) You certainly have no clue how to build MT4 software using Meta Editor

This isn't a thread for personal consultation. It's 100% transparent and all the information is here. If you don't know what to do with with the indi, well, you might have to do what everyone else has had to do -- study and learn. And don't fall into the habit of asking (or expecting) others to hold your hand -- that is a guaranteed path you'll never succeed at forex trading.
  • #295
  • Mar 30, 2022 10:04pm Mar 30, 2022 10:04pm
Thank you @robotsme I have my mt4 working and I can edit as well,But I thought there is another thing that I can add to it that will make it look like the ones im seee here that just wheat I mean
  • #296
  • Mar 30, 2022 10:10pm Mar 30, 2022 10:10pm
This Focal Point and Double Top / Bottom business really interests me -- more than my initial impression. And though it is my thread, this really is @parisboy's baby. Less than two weeks ago I had never heard of Focal Points or Double Top / Bottom.

For sure I'm interested in developing new indicators, but FPs and DTBs introduce something new and different for me -- and that is the blending of theoretical and empirical. @parisboy comes from the theoretical world -- he talks in terms of waves, envelopes, cycles and answers questions with mathematical formulas. I come from the empirical world and think in terms of a pendulum and answer questions by developing software. A pendulum is not theoretical -- it is something you can see and touch. A pendulum has a theoretical basis, but I don't need to understand the theory in order to use it. It's reassuring to know there is a theory that backs it up, but I don't need to understand it in order to use the pendulum as a trading edge.

Here's an analogy -- @parisboy is teaching us the how / why an internal combustion engine can be used to power a vehicle, whereas I'm interested in how to drive the vehicle.
  • #297
  • Mar 30, 2022 10:14pm Mar 30, 2022 10:14pm
Quoting Enagy
Thank you @robotsme I have my mt4 working and I can edit as well,But I thought there is another thing that I can add to it that will make it look like the ones im seee here that just wheat I mean
One of us is confused. The indi being used here is an MT4 indicator. If you download and install the indicator that I shared then what you see will look **exactly** as what everyone else is seeing. There are a couple of settings -- maybe your settings are different than what others are using -- I don't know. In any event, if you download the software that I've shared then you have it all.
  • #298
  • Mar 30, 2022 10:23pm Mar 30, 2022 10:23pm
This is my mt4 that Im talking about and It working BUT I thought I can add any other thing to it that will help my trading I want you to understand me
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 76 KB
  • #299
  • Mar 30, 2022 10:31pm Mar 30, 2022 10:31pm
Quoting Enagy
This is my mt4 that Im talking about and It working BUT I thought I can add any other thing to it that will help my trading I want you to understand me {image}
@Enagy -- I don't think you've even installed my indicator, let alone attach it to a chart. Please stop -- you are pre-newbie. After you learn how to use MT4 then it will become clear to you. We're not here to teach you how to use MT4.

Of course you are welcome to follow along -- but another pre-newbie post and I'll ban you. This is a distraction that is unfair to me and other members.
  • #300
  • Mar 30, 2022 10:39pm Mar 30, 2022 10:39pm
Below is a chart where I've combined the latest DTB indicator with @Nih98's sweet spot indicator. @Nih98 was a good friend and a mentor to many at FF. He died a young man a few years ago.

@Nih98 developed a ton of software that he freely shared. His SweetSpot indi is one that I routinely revisit because it often times does a nice job of creating a "context". In the case of DTB I've seen the SweetSpot lines occur at prices that kind of make sense for DTB trading -- e.g. perhaps marking Entries or Exits? Anyways, if you are curious then check it out and please share anything interesting that you find.

Attached Image (click to enlarge)
Click to Enlarge Name: Nih98-SweetSpot.png Size: 45 KB

Attached File(s)
File Type: ex4 ! NIH98 SweetSpot Indi.ex4   23 KB | 363 downloads
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