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MTF Stochastics

  • #821
  • Jun 13, 2007 10:53am Jun 13, 2007 10:53am
Quoting guess121
Hi Spudfyre,

Got to say excellent stuff, have tested this out, though am not sure what settings to use of stochs?

5 3 3 or 14 3 3?

14 seem to be better, by the looks of things, so is it best to go with 14?

Also whats the best to get quick pips, as I am hearing different stuff, I am looking to get 10 pips a day and thats it?

Thanks in advance.
Guess
I rely on 14,3,3 now only using 15M,30M,1H and 4H time frames
  • #822
  • Jun 13, 2007 10:56am Jun 13, 2007 10:56am
Hi Spud
Is it possible to have a summary of the strategy because I begin to get lost. I have the feeling that I have to go to page 1 and start all over again.
Regards
  • #823
  • Jun 13, 2007 10:57am Jun 13, 2007 10:57am
Quoting sepak.orang
hi everyone,

i'd like to share one indicator here. regarding 4h and 1h candle close. this indicator which i found on forex-tsd forum draws BIG candles of any timeframe we chose in the background of our current timeframe candles. it's easy on the eyes to see whether the 1h or 4h is closed or not.

here's the example... lets have a look.

Attachment

Attachment
Beauty!
  • #824
  • Jun 13, 2007 10:59am Jun 13, 2007 10:59am
Quoting capsmart
Hi Spud
Is it possible to have a summary of the strategy because I begin to get lost. I have the feeling that I have to go to page 1 and start all over again.
Regards
I'll put something up. Wish these ForexFactory guys would let me edit the 1st post!!!! Geez, it would be so much easier and helpful for all.
  • #825
  • Jun 13, 2007 11:14am Jun 13, 2007 11:14am
Spud,

Last question...

What time frames for price and stochs should I use, I just want to aim for 10 pips a day.

Thanks in advance,
Guess
  • #826
  • Jun 13, 2007 11:16am Jun 13, 2007 11:16am
Spud,

I am looking for quick pips really, looking to trade once a day, even aiming for just 5 pips per trade per day.

Should I just use to 15M and 30M stochs?

Thanks,
Guess
  • #827
  • Jun 13, 2007 11:28am Jun 13, 2007 11:28am
Quoting capsmart
Hi Spud
Is it possible to have a summary of the strategy because I begin to get lost. I have the feeling that I have to go to page 1 and start all over again.
Regards
Following posts are the 4 most common types of MTF Stochastic trades. They are all really the Escalator to Pips trades but for clarity I'll just describe them as they are.
  • #828
  • Jun 13, 2007 11:36am Jun 13, 2007 11:36am
All the following 4 trade types use the 4H stochastic as the key signal for entry. It is easier to see that signal with all the time frames on one chart. Either the 4H stochastic is high (above 76.4) or low (below 23.6).

The 4H stochastic will be leading the entry quite a few hours ahead because the 4H will not update as fast as the rest of the smaller time frame stochastics. We are always basing our indications on candle closes.

We are either trading "to" the 4H stochastic or "away" from the 4H stochastic based on the location of all the stochastics.

Our four basic trade types then are:

1. Long: Climbing To the 4H stochastic
2. Long: Climbing Away from the 4H stochastic
3. Short: Diving To the 4H stochastic
4. Short: Diving Away from the 4H stochastic
  • #829
  • Jun 13, 2007 11:37am Jun 13, 2007 11:37am
Example of a long trade where the 15M,30M and 1H stochastics cross the 23.6 level and climb to the 4H stochastic line.
Attached Image
  • #830
  • Jun 13, 2007 11:38am Jun 13, 2007 11:38am
Example of a climbing away trade:
Attached Image
  • #831
  • Jun 13, 2007 11:39am Jun 13, 2007 11:39am
Example of a Diving To trade:
Attached Image
  • #832
  • Jun 13, 2007 11:40am Jun 13, 2007 11:40am
Example of a diving away trade
Attached Image
  • #833
  • Jun 13, 2007 11:46am Jun 13, 2007 11:46am
You'll notice from the 4 basic trade types that most of the exits lead into the opposite trade type...so it can be very cyclical if the 4H stochastic remains high or low.

That leads into what to do when the 4H stochastic moves and crosses the 76.4 down or 23.6 up. Follow the same rules as the 4 basic trades but trade with the direction of the 4H stochastic.

In other words, if the 4H stochastic starts to climb and crosses 23.6 up...trade long trades only.....unless the 15/30/1H zip to the top and can dive back down on the 4H stochastic. Vice versa for the 4H stochastic moving down. (This is basically momentum trading).

Stick to these basic 4 trades and use the 4H stochastic as your guide and you should be winning a whole lot more than losing.
  • #834
  • Jun 13, 2007 2:07pm Jun 13, 2007 2:07pm
Quoting guess121
Spud,

I am looking for quick pips really, looking to trade once a day, even aiming for just 5 pips per trade per day.

Should I just use to 15M and 30M stochs?

Thanks,
Guess
You can scalp using just the 15M stochastic as per trade methods. You can also use 5 Min if it is in the same direction as the 15/30/1H...but just go for 5 pips.
  • #835
  • Jun 13, 2007 5:17pm Jun 13, 2007 5:17pm
Spud,

In your studies, how many days or hours will the 14,3,3 lead price?
I have seen that mentioned that it will do that on occasion and was wondering if you have done a study or noted it.


Thanks,
PH
  • #836
  • Jun 13, 2007 5:20pm Jun 13, 2007 5:20pm
here's the example... lets have a look.

Attachment [/quote]

Sepak,

I have tried to get my chart to look like Spud's in MT4 using the #MTF Stochastic indicator that I have... Time Frames higher than the one on the chart look quite jaggy and stepped and not smooth... perhaps you are using a different indicator than the one I am....My version is attached as a jpeg image... Can you help?

-Jerry
Attached Image (click to enlarge)
Click to Enlarge Name: #MTF Stoch.jpg Size: 82 KB
  • #837
  • Jun 13, 2007 5:38pm Jun 13, 2007 5:38pm
Thanks for the basic overview Supd. Very helpful.

I made it into a PDF for my own reference but figured it might be useful to others so here goes...

Lux
Attached File(s)
File Type: doc spud_mtf_rules.doc   164 KB | 1,655 downloads
File Type: pdf spud_mtf_rules.pdf   135 KB | 2,412 downloads
MT4 EA, Indicator and Alert Coder Since 2006
  • #838
  • Jun 13, 2007 6:04pm Jun 13, 2007 6:04pm
Quoting Spudfyre

Regards to 15M price chart with 15/30/1H/4H MTF Stochastic indicators - The attached chart may explain it better. The problem with the 4H stochastic line on the 15M chart is that the line pivots from the last 4H close. This can greatly change the position of the 4H line if we are not watching ourselves and being aware of the 1H and 4H candle closes. This is easier to see live, but if back testing we have to realize that during a live trade we only know the 4H stochastic line's true position every 4 hours. Just wanted to point this out so no one get's caught.
Spud, I know you're not a fan of the #MTF Stochastic but the modification made to this indicator by iya is coded so that the k% lines only show closed bars which does obviate the above problem. I'm still using 4 charts as you suggest but also have a 5th chart with all 4 periods in one window of the m15 for comparison - it's really pretty slick.
Old Benjamin was right
  • #839
  • Jun 13, 2007 6:06pm Jun 13, 2007 6:06pm
Quoting Lou G
Spud, I know you're not a fan of the #MTF Stochastic but the modification made to this indicator by iya is coded so that the k% lines only show closed bars which does obviate the above problem. I'm still using 4 charts as you suggest but also have a 5th chart with all 4 periods in one window of the m15 for comparison - it's really pretty slick.
Can you upload that indicator here. I have one from Iya but perhaps it is the wrong one or earlier version?
  • #840
  • Jun 13, 2007 6:10pm Jun 13, 2007 6:10pm
Quoting luxinterior
Thanks for the basic overview Supd. Very helpful.

I made it into a PDF for my own reference but figured it might be useful to others so here goes...

Lux
Thx! That makes my life easier!
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