Trading Made Simple(r)

Use the templates #1 and #2 from Post #1.
And follow the OP posts.

FRIDAY 21/6/2024

[quote=Mavdm;14902265]{quote} Hi Trade 1969, Agree with sj9bp20. Are you using the triple threat template provided by Robinhood?[/quote
Check previous posts.

Some ideas for the week ahead.






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Some ideas for the week ahead. Check Higher and Lower time frame before you open the trade. CHECK SWAP also.

Nearly a month ago I posted the "Triple Threat" (Post #8786).

Every trading day since then I have used it (in various ways), both on stocks and/or the Forex.

What I have realized is that it is GREAT at showing you Continuation Trades (at virtually the "perfect" entry point) that have a high probability of being successful/profitable (depending on where/how you decide to exit).

Look at the chart below.

When the lowest window has blue bars, you only make Long trades. When they are red, you only make Short trades.

When the bars in the lowest window are blue, and then when one or both of the RHO's above it are also blue, then turn to red,
then back to blue, that's when you enter Long. The opposite is true for Short trades.

This is about as easy of a way that I have ever seen to consistently make winning trades.
I don't write code in MT4, but I do write code for the trading platform that I use to trade stocks (TC2000).

I wrote the code for my stock scanner (last Monday evening) to show me all of the stocks (Daily timeframe) that are doing what I've just outlined above and I have not lost (exited) a trade using it as of yet. Below is an example. The Weekly Chart is on the far left and the Daily chart is to the right of it. The green checkmarks to the far right are based on the code I wrote to show me which stocks meet this particular criteria.

The only caveat is that the weekly chart must also have blue bars (implying a strong trend is in effect) at the same time as the Daily chart when I enter.
I have bought 9 stocks so far using this method/code, and I am still in every trade. I am winning on 8 of them and only losing $.19 cents/share on the 9th one. I don't short stocks when swing trading, but that's a different story for a different day. Below is the list of the stocks I bought (for those interested in stocks).

6/18/24 TPC
6/18/24 HRB
6/18/24 CGNX
6/18/24 SWI
6/19/24 U.S. Market Closed - National Holiday
6/20/24 MTG
6/20/24 FOXA
6/20/24 AER
6/21/24 LNC
6/21/24 CECO

For those using Trading view this is the closest I have got to replicate the indicators. Its not exact but pretty close and Im finding it usefull with Forex.
If someone has managed something better I would be interested.

[quote=RobinHood;14908962]Nearly a month ago I posted the "Triple Threat" (Post #8786). Every trading day since then I have used it (in various ways), both on stocks and/or the Forex.
Apologies if already covered, but do you take any account of divergence on the histograms, in your decision making process to enter
a trade?

The short answer is no. And that's because I haven't found using the histograms to be as reliable as Stochastics in showing divergences.

The Stochastic settings I use most often to show me divergences is: Period 12, 3%K, 3%D. But as I said in Post #8751, I only use the %D line and not the %K line.

Below is an example:

How did you do that?

Im using two versions of MACD from Trading View free indicators (Ultra MACD by DW) that allow various changes in MA's. There are many differnt MACD's to go through so it took some time. The difference is that I have only found a Weighted Moving Average rather than a Linear Weighted Moving Average (LWMA) I dont know if the differnce is significant, the SMMA is the same. Settings are 11 and 13 for both. Ive stripped it back and changed the colours etc to make it as closely in line with RH's as I can. The other is a standard TMMS with Robinhood settings and minor changes, but also has current trend of an Hull moving average which can add to the confluence, mostly I use for exiting conservatively, but it can be disabled.
Its the red and green center line on the TMMS.
If you are using Trading View its easy enough and I can go into more details via PM if you need.

Just to make everyone aware. I only have the free version of TradingView now because I was rarely using it when I was paying for it, so in the free version I can only use 2 indicators. What I am finding is that using basically the same settings on both trading platforms, TradingView and TC2000, the 2 RHO indicators are often not matching each other and sometimes by a lot. There has to be a reason, but I can't figure out why.

what are the smoothing settings on TC2000?

TC2000 does not have SMMA available but I was able to perfectly recreate it through a lot of trial and error.

It's the 22 and 26 EMA's

so 22 and 26 ema instead of 11 and 13 smma? they are quiet different

Thanks. I will try it out

Not for me. Mine are identical to each other.