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Time and Price Forecasting

  • #5,001
  • Oct 19, 2022 9:09pm Oct 19, 2022 9:09pm
For some unknown reason our trading friends seem to be scared of Circles and yet they can pinpoint turning points, or big continuation of trend, very accurately.

All one needs to do is draw the swing and place a circle over it, then a vertical line from the right-hand side. The indicator included can be used just on one chart designed just for this need...and all one needs to do is touch the button for multiple circles as needed...
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 Circle_Maker(1).ex4   23 KB | 450 downloads
  • #5,002
  • Oct 20, 2022 8:53am Oct 20, 2022 8:53am
Seems lots of trouble ahead for Cable.....nice little rally on the news of Liz resignation to Big Round Number, confirmed by Circle/square for the 2 entries for a nice start to the day +46 +24
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  • #5,003
  • Oct 20, 2022 11:15am Oct 20, 2022 11:15am
@tommiho.....good example of carry forward the indicator for additional entries, again always watching the diagonals..
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  • #5,004
  • Edited 12:26pm Oct 20, 2022 11:37am | Edited 12:26pm
Scaling the chart seems to cause tons of problems for the average trader. and mt4 is not a lot of help.
So, first of all, forget squaring the whole screen, instead, square the range, not just any range but a previous major swing. To identify a proper swing, the price must have bounced substantially, been tested a couple times and now proves to be valid.

So, for this exercise we will turn to the 1 hour GBP chart. Now, with any chart like the 1 hour, find a candle size and stay with it, otherwise when you expand the screen you will have to reset your squaring area. You will need enough candles to be able to SEE the range easily.

So, here is the 1 hour chart and as you can see the highlighted area fulfills all the requirements.
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  • #5,005
  • Edited 11:51am Oct 20, 2022 11:38am | Edited 11:51am
Next, place a 45 degree angle (found in your inserts tab) from the bottom LH corner of your Grid Box. You will note the 45 degree angle does not go from the Botom to the Top corner, in other words the working space is out of sync, or out of square.
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  • #5,006
  • Edited 11:57am Oct 20, 2022 11:39am | Edited 11:57am
Once you have downloaded the chart AutoScaleIndicator you will need to adjust the Chart Space found in the Inputs section.

Adjust as needed to bring the 45 degrees to square the grid perfectly by changing the settings and then touching the Button to lock it on the chart.
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  • #5,007
  • Edited 11:59am Oct 20, 2022 11:40am | Edited 11:59am
Once you have done this you now have squared the range. The only time you need to change the settings is when you decide to square a succeeding range, and that could be many days ahead as long as price stays with in the range of the measured swing.
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  • #5,008
  • Edited 12:01pm Oct 20, 2022 11:40am | Edited 12:01pm
You now have a working surface for many angles, vertical and horizontal levels and all manner of analyses that fits your style going forward.....
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  • #5,009
  • Oct 20, 2022 12:11pm Oct 20, 2022 12:11pm
Quoting Swede
You now have a working surface for many angles, vertical and horizontal levels and all manner of analyses that fits your style going forward..... {image}
Swede
What a fantastic set of
How to
Posts

Thank you again
Dave
  • #5,010
  • Oct 20, 2022 12:13pm Oct 20, 2022 12:13pm
So friends, I have done what I can to show you the power of having the right tools to trade with more precision than in the past. The tools I have shown were never available in mt4 in the past, they were all developed in just the past year and are all posted in the paper clip above.

We have the Gridbox for levels, adjustable as you like with or without diagonals

We have the circle tool for multiple circles for gauging time turning points.

We have the Circle/Square tools for Offset angles

And now we have ways to square our chart without the hassle of having to manually draw everytime we need to analyse the chart.

So, with all of that in mind, please try all of this ....I have posted tons of examples of entries to prove the point that what was developed by powerful traders in the past can now be done by you, using mt4.....

I will continue to post a few trades going forward, but not a much as in the past as it takes time awary from trading. But, if you have any questions you know where I post, so ask away...
  • #5,011
  • Oct 20, 2022 1:16pm Oct 20, 2022 1:16pm
Quoting Swede
@tommiho.....good example of carry forward the indicator for additional entries, again always watching the diagonals.. {image}
Hi Swede,
The horizontal dashed lines got me curious.
Are they part of the grid that was plotted ahead or something else? Like previous tops and bottoms?
So you look at the 1h for potential trades and than go to smaller TF for entries? The usual top down stuff?
Sorry if it was answered before.

and very cool entries I have to say.

edit: perhaps big numbers levels?

thanks
  • #5,012
  • Edited 2:28pm Oct 20, 2022 1:56pm | Edited 2:28pm
Quoting tommiho
{quote} Hi Swede, The horizontal dashed lines got me curious. Are they part of the grid that was plotted ahead or something else? Like previous tops and bottoms? So you look at the 1h for potential trades and than go to smaller TF for entries? The usual top down stuff? Sorry if it was answered before. and very cool entries I have to say. edit: perhaps big numbers levels? thanks
Yes, the slotted lines are Big Round Numbers, the dot grey lines are 1/2 BRN,S. Cable responds time and time again to these levels...I run 5 charts, daily, 4 hr, 1hr, 15 and 1 min for entry. But for just day trading mainly the 15 and 1min.

the indicator is sweet spot gold...I will post it and template later ( I’m away from office, just have ipad)

I also wanted to say there is no substitute for known, strong, proven price action and common sense. For example the chart below has 2 proven levels...the green where price started this week, and bounced off last night as the gap closed, and then rallied to where? yes, the 61.8 level and proceeded to fail strongly. No indicators, just common sense. All the other analyses is used for more precision entries and managing stops etc. But look at the chart........
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  • #5,013
  • Oct 20, 2022 2:17pm Oct 20, 2022 2:17pm
Quoting Swede
{quote} Yes, the slotted lines are Big Round Numbers, the dot grey lines are 1/2 BRN,S. Cable responds time and time again to these levels...I run 5 charts, daily, 4 hr, 1hr, 15 and 1 min for entry. But for just day trading mainly the 15 and 1min. the indicator is sweet spot gold...I will post it and template later ( I’m away from office)
No worries, I have the indi. Just making sure I'm getting what is what on your charts.
If you had a time and will could you post kind of step by step guide as how do you go daily about looking for trades?
No need for anything fancy or too long, just the basic kind of I look at daily and 4h, all is looking like sell, because previous day was sell, and pin was created day before and than I go to 1h, place the circular tool on, somewhere before I used the grid tool and the drwing circles tool and so on. I kind of see what you are doing but I believe precision and details matter
It would just helped greatly and cleared out a lot of guess work.

thanks very much.
  • #5,014
  • Edited 3:26pm Oct 20, 2022 2:40pm | Edited 3:26pm
And common sense tells you Britain has big, big problems. Yes, the resignation triggered some retail longs just because the news was good for the next few hours, but 45 days with multiple sackings and resignations, and less than stellar inflation control with prices soaring, one just knows the market exuberance is just simply unjustified.

with all that in mind, plus no other news to effect price, there is only one way for price to go and that is down.....think like a market maker, do u not think they loved the spike and profited on it....I did..lol

(pic borrowed from Pat Chiko)
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  • #5,015
  • Oct 23, 2022 6:46pm Oct 23, 2022 6:46pm
Normally would not trade the open Sunday session, but the circle square 1 x 1 looked too good to pass up since it was a gap up trade fill...+63 Good way to start the week..lol
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  • #5,016
  • Oct 24, 2022 11:56am Oct 24, 2022 11:56am
Quoting OAPDave
{image}
Nice trade, your buying lunch I take it?
  • #5,017
  • Oct 24, 2022 12:21pm Oct 24, 2022 12:21pm
Quoting OAPDave
{quote} Sure mate, bring Parisboy, but I think he would have strong words with me about my Favored style of producing levels
Well, it would be a very boring world if we all did things one way....ha ha! I’m sure he has strong words for some of my styles also but since I am Norwegian I can take a lots of abuse before I dish it back
  • #5,018
  • Oct 24, 2022 12:39pm Oct 24, 2022 12:39pm
Quoting OAPDave
{quote} Sure mate, bring Parisboy, but I think he would have strong words with me about my Favored style of producing levels
Kind of Murrey is an asshole and a bulshitter ?

News from the Super Gridmaster from Florida ?
  • #5,019
  • Oct 24, 2022 12:43pm Oct 24, 2022 12:43pm
Quoting Swede
{quote} Well, it would be a very boring world if we all did things one way....ha ha! I’m sure he has strong words for some of my styles also but since I am Norwegian I can take a lots of abuse before I dish it back
a guy, even a Viking, who uses Gann , even through Jenkins can not be 100 % bad !
  • #5,020
  • Oct 24, 2022 12:52pm Oct 24, 2022 12:52pm
Quoting OAPDave
{quote} You bringing the wine then ?
no problem . How many bottles ?
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lassie1711