Analysis and Trading based on Envelopes, Waves, Cycles | Page 594 | Forex Factory

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Analysis and Trading based on Envelopes, Waves, Cycles

  • #11,861
  • Dec 12, 2023 8:40am Dec 12, 2023 8:40am
There you have it. Can i ask anchor points. ?
If angle is defined then only anchor points remain.
Did you draw grid by hand or indy?
  • #11,862
  • Dec 12, 2023 9:26am Dec 12, 2023 9:26am
Murrey Math 'Rules".
Not well written but from what I've seen from Murrey, this is as good as it gets,
Attached File(s)
File Type: pdf MurreyMath Rules.pdf   119 KB | 236 downloads
  • #11,863
  • Edited Dec 13, 2023 4:09am Dec 12, 2023 9:32am | Edited Dec 13, 2023 4:09am
Quoting tmpascoe
Murrey Math 'Rules". Not well written but from what I've seen from Murrey, this is as good as it gets,{image}
I got it a long time ago.

Not at all sure it was written by the Genius from Nashville.

Would be curious about your judgment on this paper.
  • #11,864
  • Dec 12, 2023 9:34am Dec 12, 2023 9:34am
Quoting Pipchaser45
There you have it. Can i ask anchor points. ? If angle is defined then only anchor points remain. Did you draw grid by hand or indy?
I draw grids by hand on TV and otherwise I use Excel.
  • #11,865
  • Dec 12, 2023 9:41am Dec 12, 2023 9:41am
Quoting tmpascoe
Murrey Math 'Rules". Not well written but from what I've seen from Murrey, this is as good as it gets,{image}
you have this one too

IMHO good to understand the general philosophy
Attached File(s)
File Type: docx The Murrey Math Trading System.docx   45 KB | 319 downloads
  • #11,866
  • Dec 12, 2023 9:45am Dec 12, 2023 9:45am
Quoting Pipchaser45
There you have it. Can i ask anchor points. ? If angle is defined then only anchor points remain. Did you draw grid by hand or indy?
For "anchor points" I use whatever significant Lows generally - more rarely tops at the exception of All Time Highs (ex: Silver)

or the IPO point on a Long Term chart (ex: Meta / Facebook)

or the first point of the available Data Series
  • #11,867
  • Dec 12, 2023 10:04am Dec 12, 2023 10:04am
Got it... Il go trough the PDF.
If you draw them at lower and higher points you are using it for decision or intraday, got it.
I will take a closer look and see how market structure can be mapped for above below market speed.
Research time again i guess.
Thank you for all the info. Knew somebody had to recognize it .
  • #11,868
  • Dec 12, 2023 10:20am Dec 12, 2023 10:20am
Hello here,

i found this : p20 - 24
Attached File(s)
File Type: pdf #39.pdf   5.6 MB | 299 downloads
Murrey “presents” Murrey’s Profit Pie: M’$pie = 3.125 in Chicago Labor Day Week: 2004, Chicago Mercantile Exchange Education Department
  • #11,869
  • Dec 12, 2023 10:41am Dec 12, 2023 10:41am
Quoting tmpascoe
Excellent stuff. Thanks so much. I'll take a look and see how hard it'd be to code this into a TV indicator. I'm still not convinced that the automatic way is the best way to draw the MM price lines. Any comments? plus when we establish the start date on the daily TF, at what price level would the bottom left corner be placed?
Terry
I suggest have (at least) a manual date entry option for the start date. people will select their own preference. My own would be as I said above.
The time frame is then the next 365 days divided into 8ths
The price level for the start line should be zero ie, as in the original SW it doesnt matter, the timinglines are top to bottom

BTW is the MML code version on TV atm also updated? I can only see the version without timinglines
  • #11,870
  • Dec 12, 2023 11:30am Dec 12, 2023 11:30am
Quoting Fractales
Hello here, i found this : p20 - 24 {image}Murrey “presents” Murrey’s Profit Pie: M’$pie = 3.125 in Chicago Labor Day Week: 2004, Chicago Mercantile Exchange Education Department
Thanks for your interest Fractales.

What do you think of such a chart in Murrey's article ?
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  • #11,871
  • Edited 5:31pm Dec 12, 2023 4:52pm | Edited 5:31pm
Quoting GSQ120
{quote} Terry I suggest have (at least) a manual date entry option for the start date. people will select their own preference. My own would be as I said above. The time frame is then the next 365 days divided into 8ths The price level for the start line should be zero ie, as in the original SW it doesnt matter, the timinglines are top to bottom BTW is the MML code version on TV atm also updated? I can only see the version without timinglines
Manual date entry for the start of the year is already included.

Time frame is currently a choice of 4,8,16,32,64 or 128 days - should that be changed? I would think that gives more choices to match the price action, but am happy to be guided here. Plus I thought that's what Murrey's software did based on the image posted earlier.

Price level for the start line is based on zero, but the software zooms in to each zone so that the section of price action under examination is enlarged. (I've checked and this matches the excel calcs sheet provided by PB)

Here's a link - https://www.tradingview.com/script/A...ey-Math-Lines/

Thanks for the help, keep them coming.
  • #11,872
  • Dec 12, 2023 5:24pm Dec 12, 2023 5:24pm
Quoting Fractales
Hello here, i found this : p20 - 24 {image}Murrey “presents” Murrey’s Profit Pie: M’$pie = 3.125 in Chicago Labor Day Week: 2004, Chicago Mercantile Exchange Education Department
Have you read this bullshit ?

Do you see some value in it for your Trading ?

I am stupefied that a Trading Magazine could publish such insanity
Attached File(s)
File Type: docx MURREY PROFIT PIE.docx   18 KB | 279 downloads
  • #11,873
  • Edited 10:11pm Dec 12, 2023 9:54pm | Edited 10:11pm
Still playing with the MM indicator - I noticed that it works perfectly on crypto which trades 7 days per week. However, the spacing of the vertical time line on any market that operates only 5 days per week is not uniform because the indicator is drawing the vertical line every 4, 8, 16, 32, 64 or 128 calendar days not trading days. Additionally if that day falls on the weekend it draws the line on the closest trading day.
I think this is probably the correct way to do it as cycles don't stop because of weekends - BUT - is this how it was done by Murrey? I feel Gann would have done it this way!!

Ideally we need a calendar day chart - is that what Murrey used? (TV does not offer this)

Indicator matching SP500 very nicely on 8 CD setting
Attached Image (click to enlarge)
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Seems to be attracted to those circles of conflict though
  • #11,874
  • Edited 11:57pm Dec 12, 2023 10:19pm | Edited 11:57pm
I think Bitcoin matches the 8 day setting pretty well too. Or am I completely off track here MML officianodo's ??
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  • #11,875
  • Dec 13, 2023 1:44am Dec 13, 2023 1:44am
Parisboy i looked trough the pdf and yes this is the calculation needed.
The only problem to map speed is the anchor points. If the anchor points are correct it cannot fail to give a correct market structure picture.
I Understand how you guys use it in trading and its totally valid as long as you have a clear pattern this is in range price action you are using you are breaking price within a higher candle.
Some of the ranges will comply with the lines some will not. The reason they will not is because they are breaking new ranges.
When breaking new ranges switching timeframe will help as the grid on another timeframe may align where the timeframe that broke the range already created new sentiment.
To map the market with the lines my idea was to start from total volume and then divide it down.
When i started looking at this it was with the weekly candles and i could see how the trades where going within its range where i started to see the patterns reflect back within the candle.
We all know price action is more accurate and more expensive the higher volume timeframe you choose to trade. This is also why it can be scoped from a higher timeframe to a lower from alligning tf to none alligning volume tf to determine where the grid is breaking new ranges. So that was my plan becouse i allways wanted to visualise the whole trend just as clear as with repaining indicators but with static values confirming it to certain range and i will be working on it. But iam wery grateful you introduced me to the calculation because even due i stumbled across the murray math several timed in regards of indicator terminology i never looked deeper into what made it tick until now.
And for that a great thanks for giving me the tools i needed . You expanded my perspective one could say.
I Might take a look at this from a python perspective as it has some more abilities to scope markets even if its slower due to packages of functions can be added. I Suspect it will give a more correct image, i use ai for this at the moment and coding overall but been so laggy development lately due to compiler documentation sux so i might get a coder to hire instead, time will tell. Any progress will be posted.

Thanks for the tools.
  • #11,876
  • Dec 13, 2023 1:50am Dec 13, 2023 1:50am
Quoting tmpascoe
I think Bitcoin matches the 8 day setting pretty well too. Or am I completely off track here MML officianodo's ?? {image}
Try drawing the line from the bottom weekly wick and the high wick one up one down. Where the lines meet draw a line back to the candle now look at where you positioned on the weekly candle in your daily timeframe.
  • #11,877
  • Dec 13, 2023 3:17am Dec 13, 2023 3:17am
[quote=parisboy;14686717]{quote} Merci de votre intérêt pour les Fractales. Que pensez-vous d'un tel graphique dans l'article de Murrey ? {image}[/citation]

the graph is quite unreadable. despite this, I like the idea of the 2 red squares and the diagonals; but it's only visual and it doesn't add anything to my trading as it stands...

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  • #11,878
  • Dec 13, 2023 4:21am Dec 13, 2023 4:21am
Quoting tmpascoe
Still playing with the MM indicator - I noticed that it works perfectly on crypto which trades 7 days per week. However, the spacing of the vertical time line on any market that operates only 5 days per week is not uniform because the indicator is drawing the vertical line every 4, 8, 16, 32, 64 or 128 calendar days not trading days. Additionally if that day falls on the weekend it draws the line on the closest trading day. I think this is probably the correct way to do it as cycles don't stop because of weekends - BUT - is this how it was done...
Terry With Excel I always used Trading Days only. for my Gann / Murrey Charts ( Angles, Support and Resistance Lines Charts , Circle of Conflicts)
  • #11,879
  • Dec 13, 2023 7:33am Dec 13, 2023 7:33am
[quote=Fractales;14687344]
Quoting parisboy
{quote} Merci de votre intérêt pour les Fractales. Que pensez-vous d'un tel graphique dans l'article de Murrey ? {image}[/citation] the graph is quite unreadable. despite this, I like the idea of the 2 red squares and the diagonals; but it's only visual and it doesn't add anything to my trading as it stands... {image}
Fractales almost ALL Charts from Murrey are at first sight unreadable. IMHO this is deliberate.

Cluttering a chart is a Marketing Tecnique, not an error or chance
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  • #11,880
  • Dec 13, 2023 8:29am Dec 13, 2023 8:29am
Thats extreme precision. Good anchor points.
its funny to see though even though the bounce is so extremely clear price still creeps up behind the 45 line. A First break should be a good confirmation. I Call them sneaking prices and they remind me of reading books back in the days of how banks use to sneak pass transactions in this case though it seems to be wery common that markets does this actually more common than uncommon meaning the market speed. Maybe human psyche just is slower than mathematical certainty.
'Ronald Mcdonalds is comming early with hes deers this year i see lol.
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