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Trading Made Simple(r)

  • #8,721
  • Feb 29, 2024 10:02am Feb 29, 2024 10:02am
Quoting keansajeweki
{quote} Hello. Why are you using 3 indicators that are actually the same?
it is easier for me to spot the divergences
  • #8,722
  • Mar 22, 2024 2:37pm Mar 22, 2024 2:37pm
Hi, lurker since few years.

Given the recent scale of moving away from MetaQuotes 4 amongst all, that hosts most of the alert based indi in this system (incredibly useful for monitoring multiple entities), should we start migrating them to MT5 ? The person (@swingman) who knows the algorithms for the scripts may not want to move them to MT5, so what should be our course of action ?

I may sound like a customer ordering freebies from people I hardly know, but a lot of traders will be affected like they are already. We might need to have a plan of action.
  • #8,723
  • Mar 23, 2024 10:42am Mar 23, 2024 10:42am
Quoting dragonchase
Hi, lurker since few years. Given the recent scale of moving away from MetaQuotes 4 amongst all, that hosts most of the alert based indi in this system (incredibly useful for monitoring multiple entities), should we start migrating them to MT5 ? The person (@swingman) who knows the algorithms for the scripts may not want to move them to MT5, so what should be our course of action ? I may sound like a customer ordering freebies from people I hardly know, but a lot of traders will be affected like they are already. We might need to have a plan of...
I agree with what you said. While it would not be nearly as useful as having the indicators that Swingman coded, at least all of the indicators posted on Page 1, Post # 1 are all available on MT5 as far as I know.
Always a Student, Never a Master - Emulate What Works
  • #8,724
  • May 10, 2024 2:36am May 10, 2024 2:36am
Hi RH.

I would like to come back to stock screanning idea.
Long time ago this matter was talked in this thread.
I have reread some parts of the thread and try to implement these elements in a screener:
SMA(4,-1)
EMA9
RoadMap
RHO.

And now the most difficult part: criteria.
1. SMA(4,-1) is higher SMA(4,-1) 1 day ago
2. SMA(4,-1) 1 day ago < SMA(4,-1) 2 days ago (I try to find moment when price reverse for continuation trade)
3. Price > RoadMap
4. MACD (11,13,1) > 0
5. MACD (7,10,1) is rising and above MACD (11,13,1)

I am not sure that No5 is nessesery.
RH, please, can you confirm that my thinking is ok
  • #8,725
  • Edited May 11, 2024 8:58am May 10, 2024 4:56pm | Edited May 11, 2024 8:58am
Quoting iwan73
Hi RH. I would like to come back to stock screanning idea. Long time ago this matter was talked in this thread. I have reread some parts of the thread and try to implement these elements in a screener: SMA(4,-1) EMA9 RoadMap RHO. And now the most difficult part: criteria. 1. SMA(4,-1) is higher SMA(4,-1) 1 day ago 2. SMA(4,-1) 1 day ago < SMA(4,-1) 2 days ago (I try to find moment when price reverse for continuation trade) 3. Price > RoadMap 4. MACD (11,13,1) > 0 5. MACD (7,10,1) is rising and above MACD (11,13,1) I am not sure that No5 is nessesery....
Personally, at this point, I think the RobinHood Oscillator (RHO) is the most important indicator on any trading screen I use, and I now use it on every screen I view. In fact, I could easily trade successfully using nothing but it. After having watched it all day most every day for the last 2-3 years, I have learned much more about things it can tell you.

1. It shows me Continuation Trades (which is my favorite type of entry).
2. It shows me Crossover Trades.
3. It shows me Divergences (which are powerful IF you understand what they are telling you).
4. It shows me Momentum (often signaling when to get out of a trade).
5. It shows me when something is Trending, and when it's not.

Changes I've made over time:

1. I don't use the MACD 7-10 anymore, I use the 5-10 and I still use the 11-13. I changed the 7-10 settings to 5-10 to make it more sensitive.

2. I changed the RoadMap settings (for trading stocks) to be the 21 ema, the 24 ema, and the 18 ema (using the 21 high and low were to wide for me for stocks).

3. I have a 42" monitor with only 2 charts and a Watchlist on it. The 2 charts are set up in different ways show me the same thing, but in different ways. Very often, I will see things on one chart that I didn't/don't see on the other chart because it's being presented in a different way than the other chart.

4. I have much improved my watchlist/scanner. I currently have it scan 6,150 stocks every day. I will attach an image showing part of it (the part I left off is mostly unimportant). I need at least 2 green checkmarks on the Watchlist (but most preferably 3) on the same stock at the same time to enter a trade AND I will only trade stocks with high volume, as in greater than 1 million.

Attached Image (click to enlarge)
Click to Enlarge Name: RobinHood Oscillator.png Size: 141 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Chart Scanner.png Size: 131 KB
Always a Student, Never a Master - Emulate What Works
  • #8,726
  • May 12, 2024 8:20am May 12, 2024 8:20am
I was looking for a trading system to trade Russian stocks. Thanks for your ideas, RH
I implemented your system into QUIK trading platform. The entries on pullbacks confirmed by RHO look pure brilliant.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot-1205.png Size: 47 KB
  • #8,727
  • May 12, 2024 12:02pm May 12, 2024 12:02pm
Quoting Iakov
I was looking for a trading system to trade Russian stocks. Thanks for your ideas, RH I implemented your system into QUIK trading platform. The entries on pullbacks confirmed by RHO look pure brilliant. {image}
Thank you for the kind words. I am always happy when I know that I have in some way helped a fellow trader.

Continuation Trades are my bread and butter because pullbacks after a trend happen all the time, and the continuation of a trend is much more likely than a reversal of the trend. Plus, I like the fact that you always have a well defined, obvious spot to place your stop.

I would highly suggest that you set up a stock scanner and program it to show you at minimum 4 specific things, otherwise you have to do it manually. If you are interested in what those 4 things are, private message me and I will tell you. I have learned not to post certain things in the forum due to people taking those ideas and marketing them as their own.

Best of luck to you.
Always a Student, Never a Master - Emulate What Works
  • #8,728
  • May 13, 2024 12:27am May 13, 2024 12:27am
Quoting RobinHood
{quote} Personally, at this point, I think the RobinHood Oscillator (RHO) is the most important indicator on any trading screen I use, and I now use it on every screen I view. In fact, I could easily trade successfully using nothing but it. After having watched it all day most every day for the last 2-3 years, I have learned much more about things it can tell you. 1. It shows me Continuation Trades (which is my favorite type of entry). 2. It shows me Crossover Trades. 3. It shows me Divergences (which are powerful IF you understand what they are...
Is this the correct parameters for the MACD?
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2024-05-13 at 05.29.10.png Size: 28 KB
  • #8,729
  • May 13, 2024 12:53am May 13, 2024 12:53am
Quoting RobinHood
{quote} Personally, at this point, I think the RobinHood Oscillator (RHO) is the most important indicator on any trading screen I use, and I now use it on every screen I view. In fact, I could easily trade successfully using nothing but it. After having watched it all day most every day for the last 2-3 years, I have learned much more about things it can tell you. 1. It shows me Continuation Trades (which is my favorite type of entry). 2. It shows me Crossover Trades. 3. It shows me Divergences (which are powerful IF you understand what they are...
Are the settings for the 18, 21, and 24 EMA based on the high, low, and close? Similar to the way you used the 34 EMA? Or do you use the 18, 21, and 24 EMA (CLOSE) concurrently on the same chart?"
  • #8,730
  • May 13, 2024 5:24am May 13, 2024 5:24am
Quoting RobinHood
{quote} There are 2 different templates as of now. One uses traditional candlesticks and the other uses Heiken Ashi (HA) candles. Look at the image below and pick the respective template that you like visually the best. The # of downloads each will act as a poll as which one traders like the best. Let the games begin!! *Below is the version for I am using for stocks, but it visually shows the difference between the 2 type of candles. {image} RobinHood Oscillator aka RHO (with Candlesticks): {file} Awesome Template: (with Traditional Candlesticks)...
this plus the oscilator do post 5284. now i have some doubts:
-what's the dash yellow line, i'm missing that one
-are the settings from the smTMMS Oscillator_v7.2 default ones?
- is there a time frame that is recommended?

thanks
  • #8,731
  • May 13, 2024 9:42am May 13, 2024 9:42am
Quoting nanacarter
{quote} Is this the correct parameters for the MACD? {image}
Yes
Always a Student, Never a Master - Emulate What Works
  • #8,732
  • May 13, 2024 9:44am May 13, 2024 9:44am
Quoting nanacarter
{quote} Are the settings for the 18, 21, and 24 EMA based on the high, low, and close? Similar to the way you used the 34 EMA? Or do you use the 18, 21, and 24 EMA (CLOSE) concurrently on the same chart?"
No. I am using the 18 ema close, 21 ema close, and the 24 ema close. I don't use both on the same chart.
Always a Student, Never a Master - Emulate What Works
  • #8,733
  • May 13, 2024 9:58am May 13, 2024 9:58am
Quoting Polimini
{quote} this plus the oscilator do post 5284. now i have some doubts: -what's the dash yellow line, i'm missing that one -are the settings from the smTMMS Oscillator_v7.2 default ones? - is there a time frame that is recommended? thanks
I use different indicators for trading stocks vs. the Forex because I don't have all of the same indicators available to me on different trading platforms.

The yellow dashed line on the chart in post #8725 is the 3 ema.

Regarding the smTMMS Oscillator v7.2, yes, I use the default settings.

Is there a time frame that is recommended? I trade the Daily chart and reference the Weekly chart for direction.
Always a Student, Never a Master - Emulate What Works
  • #8,734
  • May 13, 2024 10:26am May 13, 2024 10:26am
Hi Great Thread

Trade with the trend - this reminds me of Dick Diamonds strategy, he used other momentum Indicators though

I trade similar with a RSI - the aim is to catch the price cycle low/turn on a pullback in a confirmed trend
  • #8,735
  • May 14, 2024 2:43am May 14, 2024 2:43am
Quoting RobinHood
{quote} Personally, at this point, I think the RobinHood Oscillator (RHO) is the most important indicator on any trading screen I use, and I now use it on every screen I view. In fact, I could easily trade successfully using nothing but it. After having watched it all day most every day for the last 2-3 years, I have learned much more about things it can tell you. 1. It shows me Continuation Trades (which is my favorite type of entry). 2. It shows me Crossover Trades. 3. It shows me Divergences (which are powerful IF you understand what they are...
I've added 10EMA to RHO.

Attachment g
  • #8,736
  • May 14, 2024 3:29am May 14, 2024 3:29am
Quoting nanacarter
{quote} Are the settings for the 18, 21, and 24 EMA based on the high, low, and close? Similar to the way you used the 34 EMA? Or do you use the 18, 21, and 24 EMA (CLOSE) concurrently on the same chart?"
Thanks for the feedback. Is the scanner available on MT4 or MT5?
  • #8,737
  • May 14, 2024 3:35am May 14, 2024 3:35am
Here's an MT5 Version of the RHO. Thanks to @BestTraderEV
Attached File(s)
File Type: ex5 RHO.ex5   9 KB | 328 downloads
  • #8,738
  • May 14, 2024 4:46am May 14, 2024 4:46am
That's a lot of hard work. Thanks sir
  • #8,739
  • Edited 5:43pm May 14, 2024 8:59am | Edited 5:43pm
Quoting nanacarter
{quote} Thanks for the feedback. Is the scanner available on MT4 or MT5?
There are. Do a Google search for: Forex Scanner and you will find some options. I am using TC2000 with a scanner but it doesn't allow you to trade the Forex on it.

My top choice with a scanner, where you can see/trade the Forex is TradingView.com

But I have heard rumors that there is a scanner available for MT4 and MT5, and if so, I would prefer that over TV because I think the charts look better on MT4.
Always a Student, Never a Master - Emulate What Works
  • #8,740
  • Edited 5:37pm May 14, 2024 4:08pm | Edited 5:37pm
Here's a "Heads Up" for traders who in some manner trade the S&P 500 or some variation of it like the SPY, ES, MEM, VOO, IVV, etc...

Below is a Weekly S&P 500 (SPY) chart. Look at all 3 magenta boxes that I have placed on the chart.

The combination of all of these things happening all at the same time is most often VERY, VERY, VERY bullish, and in this instance, for the U.S. stock market.

In fact, the confluence of what you see on the chart is the most bullish pattern/combination that I have in my stock trading arsenal, and for the most part, I only Position/Swing trade stocks that are doing this.

The only 2 ways that this pattern/combination gets defeated is if it turns into a Double Top, or it gets rejected after breakout, and it's been my experience that that only happens about 10% of the time, on average.

A fairly well known billionaire trader told me that he literally has made all of his trading income using just one trading setup (billions of dollars), so that's what I now "try" to do when trading stocks. Currently, I own 14 stocks and using what I am showing you, at one point today, all of them were up (or even) at the same time. What I am showing you is exactly how I got into every one of them. Notice ALL GREEN (or even) in the image below.
Attached Image (click to enlarge)
Click to Enlarge Name: All Green.png Size: 1.2 MB

One last thing, notice that the price turned back up from the middle of the RoadMap. I see that happen a lot which is why I use it.

Attached Image (click to enlarge)
Click to Enlarge Name: S&P Weekly Chart.png Size: 57 KB
Always a Student, Never a Master - Emulate What Works
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