Mediterranean Red Sea Star
Mark ... Everything you have been told is a LIE
Volman meets Burke or My journey with PA
- #2,401
- Apr 14, 2023 6:20am Apr 14, 2023 6:20am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
- #2,403
- Apr 14, 2023 7:03am Apr 14, 2023 7:03am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
spzd, do you have MT5 indicators for round numbers, previous day's high/low, and previous week's high/low? I've tried some that I've found online, but for some reason MT5 seems buggy and some indicators will stop displaying after I add new ones to the chart. It's pretty weird. I'm trying to build an MT5 template as close to my MT4 template as possible.
The down side is for every level you want you need to use a new instance of the indi. All day, week, month can go on same indi.
mt5 is quirky with displaying lines from certain indis. This one I have had no issues with. Here is a list of things I use. The scratched out ones are indis I have not deleted.
Mark ... Everything you have been told is a LIE
- #2,404
- Apr 14, 2023 7:04am Apr 14, 2023 7:04am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,406
- Apr 14, 2023 7:29am Apr 14, 2023 7:29am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
To ease the pain of searching for these as the mql search is lame ...
Mark ... Everything you have been told is a LIE
- #2,407
- Apr 14, 2023 7:37am Apr 14, 2023 7:37am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,409
- Apr 14, 2023 8:08am Apr 14, 2023 8:08am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,410
- Apr 14, 2023 8:12am Apr 14, 2023 8:12am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,412
- Apr 14, 2023 8:30am Apr 14, 2023 8:30am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,414
- Apr 14, 2023 10:16am Apr 14, 2023 10:16am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,417
- Apr 15, 2023 4:16am Apr 15, 2023 4:16am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Mark ... Everything you have been told is a LIE
- #2,418
- Apr 15, 2023 8:06am Apr 15, 2023 8:06am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Having decided to switch to the MNQ - micro Nasdaq - in order to take advantage of the more robust moves as compared to the MES. I was then going to post the obligatory pics and make the same obligatory remarks ... Then I realized I have not really gone into my thought process as a potential setup forms. To do this takes no extra effort as the moves and setups are all basically the same no matter the instrument I trade. If I put my framework on some instrument and it is all askew I stay away from that instrument. Since what I am willing to trade is very limited I have not had that issue (and likely will not as I tend toward creature of habit status 
).
Being that creature of habit, making these posts helps me as much as anyone else. This becomes a reinforcing "practice" method as I will often go bar by bar and replat in my mind what I would and would not do. I take this very serious. If I take a small loss, but entered as I should, I am OK with that. I am not happy at all. But I am OK with it. I prefer that the loss not happen, so I continue with my exercises and study.
).Being that creature of habit, making these posts helps me as much as anyone else. This becomes a reinforcing "practice" method as I will often go bar by bar and replat in my mind what I would and would not do. I take this very serious. If I take a small loss, but entered as I should, I am OK with that. I am not happy at all. But I am OK with it. I prefer that the loss not happen, so I continue with my exercises and study.
Mark ... Everything you have been told is a LIE
- #2,419
- Apr 15, 2023 8:51am Apr 15, 2023 8:51am
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Friday going into the 09.00 (all times are CDT - US because I tire of adjusting time while I do this) red news. I do not take the UMich survey too serious, unless it is really off. I also despise the guestimates everyone bases the data off of. It should be based off the previous data, but the masses are easily trained, led, and manipulated.
What I look for first is "will I get a counter trade?". By that I mean, will this possibly set up in a top - arch - or bottom - trough (floor). This process starts with the M1 then may proceed onto the higher time frames for a possible extended move or it could just be a quick counter trade. I never know how far any move will eventually go, I do know that if my entries within my framework are correct I will likely profit. This knowledge comes from repeated live observations and historical (yeah that dirty word - hindsight) study.
Some days I get what I want right into my initial time window. Some days I don't. Some days the signals tend to be more vague. And if it is a "normal" day, all the above and more.
This day I would be looking for a short entry. This pic is at the end of the first 5-minutes after the data release. The question at this point is what has price done and where - as in a point (not exact, but near) for a possible entry. Also, what negates the setup.
This day everything was in a position to go up. Coming into the news price started moving sideways with an up bias. Price moved down into the news then regained and was appearing at this point that maybe it was going to move up and I would have to wait and possibly change directional bias. My directional bias here is a short entry counter to the current up direction from the open.
That this entry may be possible is that price has moved inside the M1-Hull. This has set price up on the sell side. A textbook arch is not forming due to the nature of price moment the last 7 bars or so. Matters not as the pattern is still viable. What I want to see is an impulse move down that will possibly be the start of more down movement. As my entries are based on my theory of momentum as it fits with my framework of Buy/Sell side. If price continues a sideways movement it may be setting up for some possible stair step up movement or a longer consolidation to turn down. If price impulses up, all bets are off until I see something possibly forming.
What I look for first is "will I get a counter trade?". By that I mean, will this possibly set up in a top - arch - or bottom - trough (floor). This process starts with the M1 then may proceed onto the higher time frames for a possible extended move or it could just be a quick counter trade. I never know how far any move will eventually go, I do know that if my entries within my framework are correct I will likely profit. This knowledge comes from repeated live observations and historical (yeah that dirty word - hindsight) study.
Some days I get what I want right into my initial time window. Some days I don't. Some days the signals tend to be more vague. And if it is a "normal" day, all the above and more.
This day I would be looking for a short entry. This pic is at the end of the first 5-minutes after the data release. The question at this point is what has price done and where - as in a point (not exact, but near) for a possible entry. Also, what negates the setup.
This day everything was in a position to go up. Coming into the news price started moving sideways with an up bias. Price moved down into the news then regained and was appearing at this point that maybe it was going to move up and I would have to wait and possibly change directional bias. My directional bias here is a short entry counter to the current up direction from the open.
That this entry may be possible is that price has moved inside the M1-Hull. This has set price up on the sell side. A textbook arch is not forming due to the nature of price moment the last 7 bars or so. Matters not as the pattern is still viable. What I want to see is an impulse move down that will possibly be the start of more down movement. As my entries are based on my theory of momentum as it fits with my framework of Buy/Sell side. If price continues a sideways movement it may be setting up for some possible stair step up movement or a longer consolidation to turn down. If price impulses up, all bets are off until I see something possibly forming.
Mark ... Everything you have been told is a LIE
- #2,420
- Apr 15, 2023 2:15pm Apr 15, 2023 2:15pm
- Joined Dec 2010 | Status: Stop Pretending | 5,275 Posts
Friday going into the 09.00 (all times are CDT - US because I tire of adjusting time while I do this) red news. I do not take the UMich survey too serious, unless it is really off. I also despise the guestimates everyone bases the data off of. It should be based off the previous data, but the masses are easily trained, led, and manipulated. What I look for first is "will I get a counter trade?". By that I mean, will this possibly set up in a top - arch - or bottom - trough (floor). This process starts with the M1 then may proceed onto the higher...
The next open is the entry or not. In the less than likely case price opens noticeably above the close that will negate an entry. What is more likely here is an open at or below the close. What I am looking for is that down (sell) momentum has taken control and price will move down with no more than 3 or 4 pts drawdown (seriously at the most).
Mark ... Everything you have been told is a LIE