Trend Bias and Weighted Trade Signals Trading Tools

Hello Guus,

If you have not found your answer and still need the data it's Buffer 3, 0 = Trend Down and 1 = Trend Up.

Please Note this indicator requires "TimeFX_Trend_Bias_and_Weighted_Trade_Signals" to generate the Histo.



TimeFX

Hello Timefx well this was your last post so i have to locate the thread you visited last can you please help in making a template for the csdash like in the screenshot im confused on how to do it so that the arrangement of the the csdash will be in sequential form i was thinking each will have a special number i.e...1,2,3,4, but after placing he first one the second one will just replace the 1st one ,pls just how to arrange it bearing different time frame. I trade h1 so i want 4hrs daily weekly and if possible monthly to display all on h1 chart.Thanks

You mean like this?


Load csDash 4 times and use the following csDash settings:

1st csDash = h1
Expanded mode = false
Timeframe for calculations = H1
Chart Timeframe = H1
Screen Position = Top left corner
x Offset (LEFT/RIGHT) = 1
Y offsett (top/bottom) = 50


2nd csDash = h4
Expanded mode = false
Timeframe for calculations = H4
Chart Timeframe = H1
Screen Position = Top left corner
x Offset (LEFT/RIGHT) = 1
Y offsett (top/bottom) = 100



3rd csDash = D1
Expanded mode = false
Timeframe for calculations = D1
Chart Timeframe = H1
Screen Position = Top left corner
x Offset (LEFT/RIGHT) = 1
Y offsett (top/bottom) = 150

4th csDash = W1
Expanded mode = false
Timeframe for calculations = W1
Chart Timeframe = H1
Screen Position = Top left corner
x Offset (LEFT/RIGHT) = 1
Y offsett (top/bottom) = 200

Hope this helps

TimeFX

Great thanks so much you got it right have a wonderful day

Hi Timefx,

When I set trend bias with High to low and HGI(H1), but the histo indicator show HGI(M15) histo in M15 chart instead of HGI(H1). Is it the histo indicator not consistent with bias indicator？

Hello rainshot,

The Histo indicator is showing the same timeframe as the chart, which is correct. The Trend Bias showing on the chart and the Histo should be the combination of High/Low and HGI H1.

If the chart and histo was H1 the charts should line up, because your on a lower timeframe your seeing a difference.

If you could post a screen shot of H1 chart and histo it maybe easier to see this. If you turn on the signal indicators, they will print on the chart and make it easier to for me to check.

I've been working on an major update to the indicators and hope to post a version later this week with a user guide.

TimeFX

Hi TFX i love this your dashboard so much displayed at ......i will code your eas thread......so i made a screenshot of it and used it as my screensaver please mind sharing the bunch? indies templ

Hey Slingshots1,

I'm still testing and documenting the Trend Bias and Weighted Trade Signals Trading Tools v3 indicators, can't say how long.

This thread will be updated when ready.

Link to the draft User Guide added to my profile links.

TimeFX

Trend Bias and Weighted Trade Signals Trading Tools Updated 31-May-23 to Version 3.00

All indicators have been updated to version 3.00. For an Overview on these trading tools click here >> Trend Bias and Weighted Trade Signals Trading Tools.

To download the latest version click here >> Download.

Top Down Trading Analysis
This dashboard uses a Top Down Analysis approach to cycle through all currency pairs viewing a Multi Chart Set-up, to analysis charts for Strong 'vs' Weak opportunities and to select the currency pairs to trade.

This dashboard uses an indicator available from most brokers in the Advanced Tools for MetaTrader 4 download called Broker Name Charts Group.ex4. If your broker does not offer the Advanced Tools you download from FX Blue for free the indicator is called FX Blue Chart Quick-Tools. This indicator when added to all charts will change the Symbol on All Charts if a Symbol is changed on any chart.

You Will Need to Download this Chart Group Indicator add add to all charts, if not you will have to change the Symbol on all charts yourself.

The Red Box in the Bottom Left of Each Chart is the Broker Name Charts Group.ex4 indicator, set to 1 to synchronise the Symbols in all these charts.

I use Symbol changer profit display v3.ex4 on the D1 chart to change Symbols on all charts.



To recreate this dashboard:

1. Open 6 new charts
2. Position and resize them
3. Load the Templates into each chart
4. Save as a Profile

To provide more chart space you can use the ModChartWindow Indicator and TimeFX_Chart_Settings Hide Chart Window and Caption Borders Parameter options

Hide Chart Window and Caption Borders
Hide chart window and caption borders providing ore room on the chart. This is useful if you create a profile with many charts and you want to see a more chart price action data.

Your Dashboard will look like this:



For this dashboard to work you will need to download the Trend Bias and Weighted Trade Signals Trading Tools here >> Download

Top Down Analysis Templates
Download the file unpack/unzip and copy the Templates to your Templates folder.


You may need to open the charts, select the indicators, close the indicators for them to work, this happens occasionally when templates are shared.

Please note: I do not provide any advice on trading, opening or closing positions or how and when to trade using these indicators or any other indicator signals.

TimeFX

Mr timefx
Thank you for providing such a wonderful tool.
Unfortunately, I cannot download rend Bias and Weighted Trade Signals Trading Tools Updated 31-May-23 to Version 3.00 with my account.
If possible, could you please upload a ZIP file so that I can download it normally?

ZIP fie uploaded to 1st Post or >>>> Click to Download

TimeFX

Hey!! Timefx hows the market treating you? i bet youre knocking the pips down so fast they turn green i just saw that name flashed up on my screen and just decided to drop a line of greetings.Thanks for the other day how far about that compilation you promised last time i met u on ....i will code ur eas thread you promised a juicy set up i mean on post #61029 ...i will code ur eas... still working on it? or its been done wish u success buddy.Bye for now

Mr timefx
Thanks for your prompt response.
I'm really thankful to you.

Trend Bias and Look Back Signals
I'm providing details on my trading system as an example of how you can create your own trading system using these indicators, for your approach to trading.

Trend Bias and Look Back Signals Overview
Overtime I have developed my approach to trading based on Strong 'vs' Weak currency pairs, using these indicators to create a manual trading system I call Trend Bias and Look Back Signals. I trade what I see on the charts at New York open Tuesday to Thursday for a few hours each evening, looking for 10 to 20 pips a trade, rarely leaving a trade open at the end of my trading session.

It uses a Multi-Chart Set-up to monitor 4 or more currency pairs over the M5, M15, H1 and D1 Time Frames to monitor for a Change of Trend Bias direction with a Donchian Zig Zag Signal and Look Back Signal (Look Back Signals).

I use the High to Low Trend Bias Direction and configured the lower Time Frames (M5/M15/H1) to only show signals in the direction of the D1 candle.

If both Signals occur on the Change of Trend Bias direction and this Change of Trend Bias direction aligns with the current trend direction of the D1 and/or H1 charts, there is a higher probability the Change of Trend Bias direction will continue.

Before I Start Trading
30 minutes before I start trading (8:30am New York | 1:30pm London | 8:30pm Perth Australia) I will review FX news events and FX websites, see this post Displaying your favourite FX Websites.

I use my Top Down Trading Analysis Dashboard to identify the 4 or more currency pairs I will focus on trading and to select a Trend Bias Trading direction for each.


I use my Currency Strength Dashboard to monitor currency pair price movements during my trading session.


Trend Bias Look Back Signals Multi-Chart Setup Dashboard
This is the my trading system in a Multi-Chart Set-up showing 4 Currency Pairs. If you have a 27" 2k monitor and a high specified computer you can trade more currency pairs, I normally trade 6 currency pairs but have shown a multi-chart set-up with 4 currency pairs, as it fits better on monitors less than 27".



To recreate this dashboard:

1. Open 16 new charts
2. Position and resize them as per the Chart using Window | Tile Windows
3. Set Timeframes and Currency Pairs you want to trade for each chart
4. Load the Templates into each chart (M5/M15/H1/D1)
5. Save as a Profile

These steps assume you know the basics of MT4:

1. Install indicators
2. Creating charts and Profiles
3. Adding indicators to charts
4. Adding templates to charts

There is plenty of help here on Forex Factory and on the Internet on the basics of using MT4, please do not ask basic questions on MT4 without helping yourself first

To provide more chart space you can use the ModChartWindow Indicator and TimeFX_Chart_Settings Hide Chart Window and Caption Borders Parameter option.

Hide Chart Window and Caption Borders
Hide chart window and caption borders providing ore room on the chart. This is useful if you create a profile with many charts and you want to see a more chart price action data.

Your Dashboard will look like this:


Charts Set-up

I have turned off showing Weighted Trade Signals and all other signals because I will only trade on the Change of Trend Bias Direction candle or the following candle on any Time Frame.

M15 and M5 Charts
The M15 and M5 charts shows the price action and used for quick in and out trades based on Look Back Signals.

On the H1 Chart I have configured:

1. H1 Momentum Signal to generate to assist if there is momentum and a price move on the H1 chart
2. Weekly Pivot
3. Previous Day's High and Low
4. Daily ADR levels

The H1 chart shows the previous 3 days price action and where price is to the opening price, weekly pivots, previous day's high and low and todays ADR. All this information helps to make trading decisions based on current price action.

On the D1 Chart I have configured additional signals:

1. Bar Trend Signal to generate to help with determining the current D1 trend
2. Daily Currency % Change to show the strength of the daily price movement

The D1 chart is used to determine the current trend bias direction.

Weighted Trade and Reversal Signals to generate Look Back Signals:

1. RSI
2. Williams and Range
3. Parabolic SAR
4. Donchian Zig Zag
5. 2 MA Cross Over (M15 Only)
6. STOCH
7. MACD
8. H1 Momentum (H1 Only)
9. HGI Trend Arrow (H1 & D1 Only)
10. HGI Trend Wavy (H1 & D1 Only)
11. HGI Trend Range (H1 & D1 Only)
12. 4 Bar Trend (D1 Only)

I do no show the Weighted Trade or Reversal Signal, they are used to generate Look Back Signals only.

Look Back Signals
When the trend changes direction, previous candles are checked for reversal signals, if there are reversal signals a trade signal called a "Look Back" is generated on the chart indicating a higher probability the new trend direction will keep going.

When to Consider Trading at Change of Trend Bias Direction
When the Trend Bias Direction changes on any chart I will consider the following:

1. Is the Change of Trend Bias aligned with my Trend Bias Trading direction
2. Look Back Signals generated
3. Price action aligned with higher Time Frame
4. Is Change of Trend Bias happening in High / Low Trade Zone Boxes (SIXQTHS)
5. Is Change of Trend Bias touching the Strong High / Low Channel Line
6. Has there been a recent Change of Trend Bias in the same direction on a higher Time Frame
7. Trading Volume aligned with Change of Trend Bias direction.

Remember I trade what I see, both the Donchian Zig Zag and High / Low Trend Bias Direction are based on looking back at price movements highs and lows, if there is a strong price movement these indicators will generate signals that may be invalid, that is why I wait for both Look Back Signals to be generated on the same candle in the direction of the D1 and/or H1 Trend Bias Direction and my selected Trend Bias Trading direction. This way I can avoid trading pullbacks/reversals showing on lower Time Frames against the overall Trend Bias direction.

Templates
Download the templates to your templates folder and load in to the relevant Time Frame Charts.

TimeFX Indicators
To download the latest version click here >> Download.

To download the TimeFX User Guide PDF click here >> TimeFX User Guide

For an Overview on these trading tools click here >> Trend Bias and Weighted Trade Signals Trading Tools.


Please note: I do not provide any advice on trading, opening or closing positions or how and when to trade using these indicators or any other indicator signals. This comes from experience and I leave that up to yours.


TimeFX

Hi Timefx please help me in making a template for this particular one attached screenshot or tell me where to get the download i know u have it.Thanks

Oh i got it but can it stand alone away from the others or is it part of the whole spread? Man!! the spread is a brain twister mere looking at it how i wish that part could be a stand alone.

Mad....Dash uh!!

Hey Slingshot, you just need to experiment with all the parameter options if you want MADdash to look like this



Here are the parameter settings you need.


Good luck with your search and use of indicators.

TimeFX

Trend Bias and Look Back Signals Charts Review
I trade what I see on the charts at New York open Tuesday to Thursday for a few hours each evening, looking for 10 to 20 pips a trade, rarely leaving a trade open at the end of my trading session.

Charts Review for AUDCAD @ 9:05am New York | 1:05pm London | 9:05pm Perth Australia

As you can see the price action at this point time has happened starting 3 hours earlier, now there appears to be a pullback starting on the M5 chart.

Chart Signals
Donchian Zig Zag = White Dot
Look Back = Dark Orange Arrow (Small)
Daily Currency % Change = Dark Orange Arrow on current candle
4 Bar Trend = White Arrow (Small)
H1 Momentum = Yellow Arrow (Small)
High / Low Trade Zone Box (SIXQTHS)

Histogram Signals
Donchian Zig Zag and Look Back = White Arrow (Large)
Donchian Zig Zag = White Arrow (Small)
Look Back = Dark Orange Arrow (Small)
H1 Momentum = Yellow Arrow (Small)
Change of Trend Bias Direction with no Signal = Red or Green Arrow (Small)

Muti-Chart Set-up
The multi-chart set-up with D1, H1, M15 and M5 shows the current price action, it enables you to make trading decisions with an overall view of price action and the best time frame to trade on.

Daily Chart

Attached Image (click to enlarge)

Trading Trend Bias
The trading Trend Bias would be to buy and sell on pullbacks.

On the 31-May-23 there was a Change of Trend Bias Direction with a strong Look Back Signal of Donchian Zig Zag and Look Back, the Histogram shows a Large White Arrow indicating this change of trend direction.

At this point in time 1:05pm, the price action has happened, it would be best to wait for price to pull back and look for trades when price is moving up again. Lower time frames will show a Change of Trend Bias Direction for the pullback in price action.

There has been a strong momentum and move up in price, trading the pullback could be considered as there is always the possibility of a sell off.

Signals Indicate Buy

1. The Daily Currency % Change is showing 0.51% indicating price has or is still moving up.
2. The current candle has the large Dark Orange Arrow indicating the Daily Currency % Change is greater than the defined threshold of 0.29
3. The Trade Volume is showing a strong buy price action for the current day
4. Look Back signals show weaker Change of Trend Bias Direction or confirmation Trend Bias Direction continues

Hour Chart

Trading Trend Bias
There are no signals on the current or previous candle to signal a Buy, the Buy signal was 2 hours earlier with Look Back Signal.

Because of the strong price action up, trading the pullback could be considered as there is always the possibility of a sell off.

Signals Indicate Wait

1. Candle 1 (not the current Candle) is showing a Donchian Zig Zag, this is not supported by a Look Back Signal, this Donchian signal may become valid if price continues to move down. I would not consider this signal on its own as an indication to sell at this point in time. However taking a Multi-Chart view you can see on the 15 Minute chart there is a Trend Bias Change of Direction signal with a Donchian Zig Zag and Look Back, therefore on the 15 minute chart you could consider a Sell trade on the pullback and monitoring closely as the overall Trend Bias is Buy.
2. Price action has reached the High Trade Zone Box (SIXQTHS), an indication that the Trend Bias may change direction.

M15 Chart

Trading Trend Bias
There are no signals on the current or previous candle to signal a Buy, the Buy signal was 2 hours earlier with Look Back Signal.

Because of the strong price action up, trading the pullback could be considered as there is always the possibility of a sell off.

Signals Indicate Wait

1. Candle 2 has a Donchian Zig Zag which at this point in time is invalid as price has continued to move up, if the current candle closes higher than candle 2 this signal will be removed. It may be that the current candle when closed will signal a Donchian Zig Zag, therefore you must wait and not trade at this point in time.
2. If the current candle does have a Donchain Zig Zag and Look Back signal when is closes, this could indicate the start of the pull back.
3. Price action has reached the High Trade Zone Box (SIXQTHS), an indication that the Trend Bias may change direction.

M5 Chart

Trading Trend Bias
There is strong change od Trend Bias Direction with a Donchian Zig Zag and Look Back signal, this could indicate the pullback has started. It would be best to wait for the current candle to close to see if the close is lower.

Because of the strong price action up, trading the pullback could be considered as there is always the possibility of a sell off.

Signals Indicate Possible Pullback or Sell

1. Candle 1 has a strong change of Trend Bias Direction with a Donchian Zig Zag and Look Back signal
2. Price action has slowed down and reached the High Trade Zone Box (SIXQTHS), an indication that the Trend Bias may change direction.

Review
I only trade on a change of Trend Bias direction if:

1. Donchian Zig Zag and Look Back signal on the candle
2. Price action has reached a High / Low Trade Zone Box (SIXQTHS)
3. Price action is moving in the same direction as the daily chart and/or the daily candle
4. I will consider trading on any chart and prefer all charts to line up
5. I will let my trades run if in profit, often to the next change of Trend Bis direction
6. I will cut my losses quick if price action moves against me

I have written this summary without the AUDCAD charts open, so I do not know if price action continued to slow down, move up or as indicated on the M5 chart a pullback occurred.


Please note: I do not provide any advice on trading, opening or closing positions or how and when to trade using these indicators or any other indicator signals. This comes from experience and I leave that up to yours.


TimeFX

Excellent work, my respects. I still don't get to try it but I see the potential for your explanation of the indicator. It will be a great help to my strategy. I will comment on the results. Thanks and good trades