DislikedSpud,
Do you use this new 5min. scalp system on the eur/usd only?
B.Ignored
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DislikedSpud,
Do you use this new 5min. scalp system on the eur/usd only?
B.Ignored
DislikedThx Spud & Slick for this new gems for us.
A little question : is still the stoch(5,3,3) on M5 chart ?
cheers,
SkylineIgnored
DislikedQuicker Pipping
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Spud quote ".....How this works is to trade the 5M stoch in the direction the 15/30 stochs are pointing..given they are close to the beginning of their run long or short from 80 or 20 as per the 80/20 rules I have spoken at length of here in this thread....."
Attachment
Spud I am not sure why you say that
8-9 times out of 10 the cross in the 20-80 zone
is better then the cross into the the 20 -80 3zone
I believe here on this chart it wins every time or is so closs its hard to tell
(both into the 20/80 or the true cross - you have to use the candle that follows of coarse)
& some of the win diff were really really big!!
wins runs make up for the loses
just a thought!!
TEBIgnored
Disliked
Actually, your diagram shows exactly what I am saying....what I am saying obviously didn't translate well when I wrote it.
Thanks for clearing that up and the pic.Ignored
DislikedMeasuring Stochastic Elasticity
Almost sounds like a physics class!?! Anyways, for about 2 years I have been trying to develop a way to measure the elasticity of a stochastic move. Elasticity being how much price moves when the stochastic moves. Mathematically you can measure it in a ratio between price move versus stochastic move...or in pips versus percentage.
Today I found something that visually provides an elasticity measurement.
This requires the 5 minute time frame, a 5,3,3 stochastic and a 14,3,3 stochastic. Using this tool will save you countless early entries and late exits.
If you like get in when both are good & stay till the 14.3.3 crosses out
put a 50,6,6 stoch over it & it will cover the 14.3.3
& you will not get hit with the big "D"
Below is a diagram of a 5 min chart. Price, 5,3,3 stochastic and 14,3,3 stochastic. On the 5,3,3 the level lines are set at 20 and 80. On the 14,3,3 the levels are set at 90,50,10.
The large drop in price was from a news event. Notice how the 5,3,3 stoch gives 2 false moves crossing 80 down before the real move down. Now look at the 14,3,3 stoch and see that there is one less false move.
To use this tool, the 5,3,3 will always move first as it responds faster. The 14,3,3 will always follow. What you want to wait for is the 14,3,3 confirmation before entry...or you want both the 5,3,3 and 14,3,3 to be moving in the same direction together.
Hopefully someone wise can program a stochastic indicator with the 14,3,3 and 5,3,3 "K" lines that can overlay each other in MT4. Users of Tradestation seem to be able to do this.
There are more gems I will try to expalin as I learn them, but the underlying trait is that if the 5,3,3 moves and the 14,3,3 does not follow, it will be a weak price move.Ignored
DislikedWhat you want to wait for is the 14,3,3 confirmation before entry...or you want both the 5,3,3 and 14,3,3 to be moving in the same direction together.Ignored
DislikedHowdy Spud!
Wonderful thread.
I'm waiting for fast stoch line to cross 50 before entering.
Does this basically give the confirmation you're looking for
or is it too slow?
Also a confession: I love the MFT platform but have changed TF's
to M15,M30,H1,H4,D1
FXSIgnored
DislikedMeasuring Stochastic Elasticity
Hopefully someone wise can program a stochastic indicator with the 14,3,3 and 5,3,3 "K" lines that can overlay each other in MT4. Users of Tradestation seem to be able to do this.
Ignored
DislikedSpud,
Do you mean show the 5,3,3, and 14,3,3 in the same window like below?
Thats quite simple in MT4.
G-ManIgnored
DislikedHi Spud,
Firstly many thanks for sharing this info with us. For a very new newbie like me it is a dream come true and an extremely generous act.
There is something in your post 575 which seems like a contradiction but is almost certainly my lack of understanding and I would be very grateful if you would explain it to me.
In one paragraph you say 'if you want to try and gain more pips - add time frames - but longer time frames mean larger risk'
In the next you say 'Enter a long trade only when at least two time frames {I suggest 3 to reduce the risk '
I suspect that this means that I should use the 1H as confirmation of the 15 and 30M but that I shouldn't necessarily stay with the 1H once the 30M has exhausted itself but I would be grateful if you would enlighten me.Ignored