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SRDC Episode II

  • #241
  • Nov 29, 2006 3:03pm Nov 29, 2006 3:03pm
Quoting Lou G
The only problem I see with the LRC or other MT4 objects is that they cannot be referenced by an EA - I don't think there is a way to know the location of the lines on a bar-to-bar basis (someone correct me if I'm wrong). Correct for now. Even my team is struggling.

Until something better comes along, I've attached a version of the SHI_Channel that does not redraw as often as the original. It also provides the bar by bar location of the lines in three buffers for those who would like to code an EA. If the trend lines seem blurred after adding the indicator to a chart, go into edit (right click, select the indicator, then edit) and change the three color values to the same color as your chart background. Sorry, I haven't found a way around having to do this.
Now, this deserve a suitcase of Jedi Pips. I have an EA for commercial version done in Java with SHI channel for in house use, my god, I frankly said, Its almost a copy of my trading skill. On the otherhand, Skyline's personal copy that he designed himself (coz, he flew and took 7 days off just to enter the Jedi council, NOT RECOMMENDED) is also a blast.

All im saying is, even at level 2. A proper coded ea, based on this thread is worth having.

Now, when anyone, wants to have a similar copy, lets help Lou here, and put some efforts in EAing this method, so everyone can benefit.

May the Pips be unlimited!!
Change Your Thinking. Change Your Life - JD
  • #242
  • Nov 29, 2006 3:10pm Nov 29, 2006 3:10pm
Quoting 4rex
Compro,

I appreciate your comments/advise. I am still shedding.

Thanks
Im afraid Compro is right Rex. You dont want me changing the 4 into T, do you? Like I said before to Hans Solo, KISS. Keep it simple Solo.

May the Jedi path be within you.
Change Your Thinking. Change Your Life - JD
  • #243
  • Nov 29, 2006 3:34pm Nov 29, 2006 3:34pm
Master Orange,

Your senior jedi trainees like Compro protect those of us who are still under the spell of the lurking dark forces....the biggest battles are those within each of us. I am determined and committed to the PATH!

YES........KISSSSSS......KISSSSS......


Quoting OrangeRoshan
Im afraid Compro is right Rex. You dont want me changing the 4 into T, do you? Like I said before to Hans Solo, KISS. Keep it simple Solo.

May the Jedi path be within you.
Attached Image
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  • #244
  • Nov 29, 2006 3:42pm Nov 29, 2006 3:42pm
Lou,

Are you saying that this modified SHI_Channel can take the place of using the LRC/SDC? Once I place the SHI_Channel in my daily chart how often do I need to re insert it? Can it be used for 1hr also? Forgive my confusion but lately there has been a lot of info exchanged about channels and I want to be clear of what I am doing.

Thank You.



Quoting Lou G
The only problem I see with the LRC or other MT4 objects is that they cannot be referenced by an EA - I don't think there is a way to know the location of the lines on a bar-to-bar basis (someone correct me if I'm wrong).

Until something better comes along, I've attached a version of the SHI_Channel that does not redraw as often as the original. It also provides the bar by bar location of the lines in three buffers for those who would like to code an EA. If the trend lines seem blurred after adding the indicator to a chart, go into edit (right click, select the indicator, then edit) and change the three color values to the same color as your chart background. Sorry, I haven't found a way around having to do this.
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  • #245
  • Nov 29, 2006 3:47pm Nov 29, 2006 3:47pm
Quoting 4rex
Lou,

Are you saying that this modified SHI_Channel can take the place of using the LRC/SDC? Once I place the SHI_Channel in my daily chart how often do I need to re insert it? Can it be used for 1hr also? Forgive my confusion but lately there has been a lot of info exchanged about channels and I want to be clear of what I am doing.

Thank You.
Not the same as LRC, more like SHI but does not redraw as often. ONLY use on 1 hour chart - it's specifically coded for 1 hour timeframe. No guarantee on any other timeframe...

You never have to re-insert it - just put it on your ONE HOUR chart and let it do it's thing.
Old Benjamin was right
  • #246
  • Nov 29, 2006 3:51pm Nov 29, 2006 3:51pm
Quoting traderlismiss
Thank you again Rojam,

One final thing, I promise. Is there away to get this channel to extend on because I can't get my trend lines to line up on the daily like they do on the hour. Mainly the center line.
Believe it or not, I use trendlines and do it manually. LOL

Old habits die hard!!
Change Your Thinking. Change Your Life - JD
  • #247
  • Nov 29, 2006 3:52pm Nov 29, 2006 3:52pm
DO we only use channels on the 1 HR? I thought we used them on daily too?
Believe and Achieve!
  • #248
  • Nov 29, 2006 3:53pm Nov 29, 2006 3:53pm
Quoting Lou G
Not the same as LRC, more like SHI but does not redraw as often. ONLY use on 1 hour chart - it's specifically coded for 1 hour timeframe. No guarantee on any other timeframe...

You never have to re-insert it - just put it on your ONE HOUR chart and let it do it's thing.
So the 1 hour is showing the candles below the bottom tl now right? How do you know when the price would bounce up to the median again instead of continuing down? The cci crossed lower on daily, maybe that is how? Cci hourly is up, but he did say daily showed the trend.
  • #249
  • Nov 29, 2006 4:13pm Nov 29, 2006 4:13pm
Quoting sirwolf
DO we only use channels on the 1 HR? I thought we used them on daily too?
Apply the same thing to daily. When pounds goes any higher, Kilo will be upset!! The Daily candle is just a day to end of the month, and its still a long way to the median. I want to see a long bearish candle to the median. Lets hope the fundamentals will agree too.

Friday is take profit day for the big boys.... lets wait and see....

Warpspeed to the next milkyway!!
Change Your Thinking. Change Your Life - JD
  • #250
  • Nov 29, 2006 4:36pm Nov 29, 2006 4:36pm
Since we are on the topic of "Channels" and MT4 tool useage. . . my 2 JediPips worth (i never thought i'd say that in a post, but guess it's a prerequisit to mention Jedi in every post here. grin). Here goes:

http://www.accrete.com/fx-posts/misp...annelexmpl.png

OK, in MT4:

Step 1) i place the LRC on the longest trend i can find on the 1 hour chart. In the case of the image posted here, the entry is at Oct16th/1.2380ish level. Then i draw up to the open of the close of the previous day. On this chart the LRC is represented as the solid blue lines. and is set to "draw as Ray"

Step 2) Now i like to see various levels within my channels, call me a detail nut, but i think there is so much information yeilded on nicely placed levels. Here is how i get them: I place a Fibonacci Channel (represented as black dotted lines) with the following "levels":

These represent the levels inside the bands:
-0.125
-0.25
-0.75
-0.875
These represent the levels outside the bands:
0.125
0.25
-1.125
-1.25

As you can see this application yeilds some additional useful information. For instance, part of an entry "filter" might be to wait until the price closes below the -0.125 % line after bouncing off the upper LRC channel as shown in the image above.

OK, so how do i like to trade the channel? Set up as above, i typicaly take any bounces from the upper R line to a bounce back toward the R line off the -0.25 as a trading range. Reverse this if at the S line. Once the price breaks out of the inside 25% levels toward the median with momentum this is a nice heads up entry area. . . be sure your light saber has a fresh batch of eveready batteries ; )

Hope this is a help to the Jedi Padawans out there : )

Cheers,
Thom
  • #251
  • Nov 29, 2006 4:42pm Nov 29, 2006 4:42pm
Master Roshan and others members of the council,


K: Keep me on track
I: It is getting a bit confusing(channels)
S: Simply need one explanation, one channel, one procedure
S: Stupid Me? Help I don't want to be sent back to SRDC1

Sorry, master your vision is light years ahead of me
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  • #252
  • Nov 29, 2006 5:01pm Nov 29, 2006 5:01pm
Quoting accrete
Since we are on the topic of "Channels" and MT4 tool useage. . . my 2 JediPips worth (i never thought i'd say that in a post, but guess it's a prerequisit to mention Jedi in every post here. grin). Here goes:

http://www.accrete.com/fx-posts/misp...annelexmpl.png

OK, in MT4:

Step 1) i place the LRC on the longest trend i can find on the 1 hour chart. In the case of the image posted here, the entry is at Oct16th/1.2380ish level. Then i draw up to the open of the close of the previous day. On this chart the LRC is represented as the solid blue lines. and is set to "draw as Ray"

Step 2) Now i like to see various levels within my channels, call me a detail nut, but i think there is so much information yeilded on nicely placed levels. Here is how i get them: I place a Fibonacci Channel (represented as black dotted lines) with the following "levels":

These represent the levels inside the bands:
-0.125
-0.25
-0.75
-0.875
These represent the levels outside the bands:
0.125
0.25
-1.125
-1.25

As you can see this application yeilds some additional useful information. For instance, part of an entry "filter" might be to wait until the price closes below the -0.125 % line after bouncing off the upper LRC channel as shown in the image above.

OK, so how do i like to trade the channel? Set up as above, i typicaly take any bounces from the upper R line to a bounce back toward the R line off the -0.25 as a trading range. Reverse this if at the S line. Once the price breaks out of the inside 25% levels toward the median with momentum this is a nice heads up entry area. . . be sure your light saber has a fresh batch of eveready batteries ; )

Hope this is a help to the Jedi Padawans out there : )

Cheers,
Thom
LOL Thom, welldone. You just opened part II of SRDC II (i was about ready to goto sleep, its 848am here, 10q ...). But thanks for the RAY bit, LOL, LOL.... im truly a newbie with this platform...

618 jedi pips for you...now now, spend it wisely thom..

My Fibo is between the Support the resistance. See how the candles nicely settle at the fibo lines.

Big boys use Fibo, why?
Who made the most famous RED handmade car?
Who's name was use to have THAT food delivered while bz trading?
Who made the finest suit?
Who make mooncakes? (opps sorry not this one!!)

Italian...... Fibonacci Da Jedi is from the little town of Pisa. He is so increadible, even the tower bow at him!!

Thats it, Im going to sleep. Now (cant say today), i will explain SRDC II part II in more details when i wake up....

Off 2sleep I go..... Honey... Im ready..........!! Honnneyyyy..........
Damn, shes off to work already... should have gone to bed early...

May the Fibo be with you.
Attached Image
Change Your Thinking. Change Your Life - JD
  • #253
  • Nov 29, 2006 5:13pm Nov 29, 2006 5:13pm
Quoting llambert3
So the 1 hour is showing the candles below the bottom tl now right? How do you know when the price would bounce up to the median again instead of continuing down? The cci crossed lower on daily, maybe that is how? Cci hourly is up, but he did say daily showed the trend.
The EURUSD should redraw in an hour or so - Cable will be a while, maybe 6-8 hours if the price moves up.

To stay "on target" with this thread, I'm going to stick with the original SHI channel since that is what O.R. recommended. I'll continue to watch the version I posted and see what I like best a week or two down the road. Using the indicators the author suggests will enable everyone to look at the same charts, which is a good thing.

Those who have no interest in writing/using an Expert Advisor can use anything that pleases them. Drawing channels manually is perfectly fine and may even help one's understanding of the market. The LRC looks very promising - once I learn the formula, maybe I'll write an indicator for it.

I have no desire whatsoever to drag this thread off target - I think SRDC as presented by O.R. is the best thing I've seen in a long time. Can't wait for the rest of Level 2 (and 3 and 4)!
Old Benjamin was right
  • #254
  • Nov 29, 2006 5:22pm Nov 29, 2006 5:22pm
Fellow galaxians,

Is there anyone out there that can put mechanics of using the several channels mentioned in an concise, simple and effective manner. I am a bit frustrated with so many explanations and I don't believe for a moment that I am the only one experiencing difficulties deciding what channel? what timeframe? and how to place it on dailies and one hour charts. If you are also somewhat confused join the ranks of the perplexed and speak up so that other senior jedi trainees can help us.

Thank You
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  • #255
  • Edited 5:48pm Nov 29, 2006 5:30pm | Edited 5:48pm
Quoting 4rex
Fellow galaxians,

Is there anyone out there that can put mechanics of using the several channels mentioned in an concise, simple and effective manner. I am a bit frustrated with so many explanations and I don't believe for a moment that I am the only one experiencing difficulties deciding what channel? what timeframe? and how to place it on dailies and one hour charts. If you are also somewhat confused join the ranks of the perplexed and speak up so that other senior jedi trainees can help us.

Thank You
4rex,

Just put the Shi_channel at yr daily and 1hr chart. Then, learn to draw Linear Regression Channel on yr chart(1hr) to compare them. For 1hr chart, if u drag the LRC to few days to a week, it will abt the same as shi_channel but if u drag it for a day or 2, then it is different. See my attached GBP chart.. to give me the price feel. Looking at EUR and GBP, price at median and very slow. I am staying out...
Attached Image
The future depends on what we do in the present.
  • #256
  • Nov 29, 2006 5:40pm Nov 29, 2006 5:40pm
I drew my channel lines manually over the shi channel lines when i applied the indicator to the chart, after the shi channel moved my lines are still intact in the previous position. Would this be correct or is this a mistake. On the daily chart the only difference is the top line and middle lines moved up slightly the bottom support line remained the same.
  • #257
  • Nov 29, 2006 5:42pm Nov 29, 2006 5:42pm
Seriously,

I do appreciate your help. I will put blinders on and stick to the SHI and LR and fooget ahbout it!

Thanks Compro.
P.S Is this what you mean. Did I draw correctly?

Quoting compro99
4rex,

Just put the Shi_channel at yr daily and 1hr chart. Then, learn to draw Linear Regression Channel on yr chart(1hr) to compare them. For 1hr chart, if u drag the LRC to few days to a week, it will abt the same as shi_channel but if u drag it for a day or 2, then it is different. See my attached GBP chart.. to give me the price feel.
Attached Image
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  • #258
  • Nov 29, 2006 5:48pm Nov 29, 2006 5:48pm
Hey Master Roshan,

You mentioned the imperial troopers using Fibo # for prices, I have also
heard of the pro's using pivot points. I have been playing with a daily Fibo Pivot indicator on the 1hr chart.

Have you played with pivot points before?

East Coast Ewock
Attached File(s)
File Type: mq4 FiboPiv_v3_daily.mq4   5 KB | 586 downloads
  • #259
  • Nov 29, 2006 5:56pm Nov 29, 2006 5:56pm
Quoting 4rex
Seriously,

I do appreciate your help. I will put blinders on and stick to the SHI and LR and fooget ahbout it!

Thanks Compro.
P.S Is this what you mean. Did I draw correctly?
4rex,

U drawn it correctly. Trading is always abit of grey area...hehe.

Again, u can also draw the LRC on daily too.. if u want which i drag for 2mths period.. roughly the same as shi_channel. U can see the price is at toppp of channel... so according to Jedi Roshan, there may be a falling knife.

For now, i am keen to know SRDC 2 part 2. I am quietly waiting for Jedi Master Roshan instructions. Tata !!
The future depends on what we do in the present.
  • #260
  • Nov 29, 2006 6:11pm Nov 29, 2006 6:11pm
Jedi Compro,


Is this what you mean? Sorry for asking for confirmation again but I just need the reassurance.

Thank You.



Quoting compro99
4rex,

U drawn it correctly. Trading is always abit of grey area...hehe.

Again, u can also draw the LRC on daily too.. if u want which i drag for 2mths period.. roughly the same as shi_channel. U can see the price is at toppp of channel... so according to Jedi Roshan, there may be a falling knife.

For now, i am keen to know SRDC 2 part 2. I am quietly waiting for Jedi Master Roshan instructions. Tata !!
Attached Image
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