Blue Waves

Hello!

Just thought I'd start a little journal
as I explore the use of Linuxtroll's Rainbow.
I read in one of his posts that the best way to
understand its application was to just spend a lot
of screen time with it.
I'm really looking forward to it because, to me it's
really fascinating and fun!

First: my screen setup.

Welcome All!

FXS

Here's the Rainbow template on the setup.

FXS

A nice place to start might be from
a non-trending , waveless presentaion
on U/J.


FXS

This looks fascinating.

Keep us updated

Yes indeed, keep telling us about this one. Looks interesting.

I'm glad that you guys agree! Really cool stuff!

I'm just going to write in the journal sort of randomly
as things come to mind. Maybe later I'll organize a bit.

I thought that I would make an observation about TIME FRAMES(TF's).
I don't see the Multiple Moving Average(MMA) Rainbow as
being limited at all to any one time frame.

As my initial objective is to observe as much WAVE MOTION
as possible during screen time, I will mostly be looking at
M1(one minute) charts. I have certainly seen examples of all
TF's (up to Weekly) being used. Of course, longer TF's tend to
trend clearer due to the fact that shorter term market fluctuations
(and dead periods) are not shown in the charts. However, trading
short term price movement requires only the detection of motion
on a short term basis. Not what may normally be considered bonafide
trending. All I have to do is beat the spread and follow Money Management
(MM) protocol.
Anyway, the weekend is almost here. So, you may see me posting examples from longer TF charts since the markets will be closed. You can expect to see more clearly defined patterns on them. However, to re-state: the bulk
of my work will be done during (hopefully) active market hours on short
TF charts.

Have a GREAT WEEKEND and put up the template to CATCH A WAVE!
< (WAVE...p.s. please expect the cliche wave puns to continue)
FXS

As opposed to the tightly woven presentation of a
sideways lack of price movement, I've posted a chart
showing movement. Have you seen the contour lines
on a topographic map? It works the same way here.
Wave "Elevation" presents as a spreading out of the MMA.
The posted charts don't really show the detail all that well.
So why not put up the template and look for examples of
consolidation vs. motion on your favorite pair and TF?


FXS

Waves of motion breaking out of the calm
on U/J and E/J leading up to Friday's close.


FXS

some interesting stuff, thanks for sharing it with us FXSurfer

Good luck

So glad that it's of interest!

Have a great weekend!

FXS

One of the great things about exploring a
concept here on FF is that it really get's you
looking around and finding GREAT WORK that's
been done already by your trading brothers and
sisters! Today's recommended rainbow related search:
Akuma99

Wonderful stuff!
Let me know if you need help finding it or have a comment!

Let's get some pips!

FXS

Here's a paragraph from "The Market Makers Edge" P.275
by Josh Lukeman. Great stuff!

"Being right and making money when you are trading can
be two separate issues. Your goal as a day trader is to make
money, not to be right. Prices move in the direction of the
strongest energy behind them. When you listen to the force
behind the prices and jump on board for the ride, your actions
will not conflict with the market's opinion."


FXS

P.S. Post#2 is what it's all about!
Enjoy!

For a good time:
Put the template (post #2) on your favorite pair
(or more-I put up four, as you can see) on M1.
Then put in about half an hour or so of screen time
while studying the following several times over and over:

"After I have prepared my mind [with some quiet meditation],
I try to visualize the many waves that occur during the trading
day. There are up waves, and there are down waves. My job is
to ride each wave as far as I can, no matter what direction.
...I see myself getting on that wave and, when it peaks or
bottoms out, reversing and going with the next wave. I repeat
this over and over again."
From "Zen in the Markets" By Eddie Toppel

Enjoy!

FXS

Hi FXSurfer,

A good book to read on mma's is Trend Trading by Daryl Guppy. You may have already read it but I thought it was an excellent book on the subject of mma's. Just stopped by and saw your thread and had a thought. Keep us posted......

How have you been!

Yes, I must get Guppy's books and materials! Do you have to order it
from Australia? I've read all the GMMA threads here on FF and, of course
find it absolutely GREAT! As you know, Linuxtroll's Rainbow MMA is its
offspring. That's one good lookin' baby!

Please visit and contribute often!

FXS

No I got mine off of amazon through an individual seller. The last time I checked they didn't have any(amazon) but there were plenty of individuals selling them......

Here's a preliminary shot of a COLOR WAVE MMA
setup that I'll be working more on over the weekend.
I'll post more ASAP.
I'm loving it so far!

Have a great weekend, All!

FXS

wow look nice
fxs i think it not blue wave anymore but _______? hehehe
can you post the setting

I hope that you like the new and improved(?)
MMA Wave setup! I think that it may be pretty
useful. Most of the time when I "come up with"
some idea I find that it has already been thought
of by someone here. Even so, it doesn't make it
bad, right?
I'll still keep the name of the thread the same because
it sounds relaxing and tropical to me!
I see so many nice possibilities in the creation of MMA
setups depending on what you want to do with them.
Please share your thoughts here anytime!
Anyway, I've attached the indicator that I made the
COLOR WAVE setup with. Please play with it yourself before
I post more tommorow. The MA's on the posted chart are
two periods apart. But, set it up as you like and of course...
colors are your choice! It's off to sleep.

Thanks for coming by!

FXS

Pretty cool stuff here Surfer. I've never seen one put together like this. Looking forward to giving it a test run. Thanks and I look forward to following your thread....