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MTF Stochastics

  • #1,041
  • Jul 15, 2007 4:17pm Jul 15, 2007 4:17pm
I decided to go ahead and post the charts of my fourth MTF stochastics trade.

This is the EUR/JPY. You can see that, on the M15 & M30 charts there were shooting stars followed up by a confirming close of the M15 stoch below 50. (I think I actually put in 23.6 on the chart. Sorry for the typo). At that point the M30 had already closed below 50 and the H1 stoch was coming down below 76.4. Again, 20 pips as a TP.

I LOVE this method.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade #4.jpg Size: 62 KB
  • #1,042
  • Jul 15, 2007 6:08pm Jul 15, 2007 6:08pm
Hi Tommy,

I just returned from Borders, and went through the Nison book. Looks great, and somewhat more approachable than Bigalow's works. Unfortunately, although they had the book in stock, it was a bit tattered, so I'll have to hit another store tomorrow for a better copy.

Thanks for posting the additional charts -- a picture is always worth a thousand words!

But -- why are you using bars instead of candles in your charts, if you're interpreting candlestick patterns?

Jeff
Jeff Singer, K2KV
  • #1,043
  • Jul 15, 2007 6:12pm Jul 15, 2007 6:12pm
Quoting Tommy_C
I decided to go ahead and post the charts of my fourth MTF stochastics trade.

This is the EUR/JPY. You can see that, on the M15 & M30 charts there were shooting stars followed up by a confirming close of the M15 stoch below 50. (I think I actually put in 23.6 on the chart. Sorry for the typo). At that point the M30 had already closed below 50 and the H1 stoch was coming down below 76.4. Again, 20 pips as a TP.

I LOVE this method.
Hi TommyC,
Thanks for the posts.
I would like to post my thoughts - perhaps you might comment on them (since it seems that you are more successful in finding trades than am). I have been looking at using MTF Stochs , but have been unable to find many times (going back in my MT4 charts where the 15m,30m,60m all line up and the 240 (trend) confirms direction.
Perhaps I am looking for too much confirmation for a potential trade. Certainly, I would have not taken your 1st trade - since I would have thought that the move was too far advanced when the stochs are crossing the 50% line. I would have wanted them to be crossing the 76.4 from above.
Also for your trade 1, I would not have been encouraged by your 'shooting star' candle. I believe that they are all too common on timeframes below 240 minutes. The one on your chart is is of good proportion, but is rather small - not many pips in total length.
if you are interested in Price Action patterns, may I reccommend the James16 chart thread - though there they are looking at longer timeframes than here.

Thanks again,
Ian
  • #1,044
  • Jul 15, 2007 7:33pm Jul 15, 2007 7:33pm
Quoting ianf0ster
Hi TommyC,
Thanks for the posts.
I would like to post my thoughts - perhaps you might comment on them (since it seems that you are more successful in finding trades than am). I have been looking at using MTF Stochs , but have been unable to find many times (going back in my MT4 charts where the 15m,30m,60m all line up and the 240 (trend) confirms direction.
Perhaps I am looking for too much confirmation for a potential trade. Certainly, I would have not taken your 1st trade - since I would have thought that the move was too far advanced when the stochs are crossing the 50% line. I would have wanted them to be crossing the 76.4 from above.
Also for your trade 1, I would not have been encouraged by your 'shooting star' candle. I believe that they are all too common on timeframes below 240 minutes. The one on your chart is is of good proportion, but is rather small - not many pips in total length.
if you are interested in Price Action patterns, may I reccommend the James16 chart thread - though there they are looking at longer timeframes than here.

Thanks again,
Ian
Ian,

Well, I have something to admit about all four of the trades that I posted my charts for: I didn't consult the 4hr at all. Actually, that's not true. For both the GBP/JPY and the EUR/JPY, the 4hr stochastic was firmly overbought and moving nearly horizontally. Consequently, there was no real trend from the 4hr to go with. Now, had the 4hr stochastics been moving below 76.4, then I would have wanted to trade in that direction. But, to me, whenever the stochastics are flattened out at either extremely overbought or extremely oversold, we then have a ranging market. At that point, all I was looking for was the 15/30/60 to be lined up together and that happens a LOT more often.

On that first trade, the chart doesn't show it, but at the start of the Asian session, price had been moving down steadily. It then began a retracement up and it was at the height of that retracement, when the 15/30/60 started to turn back over that I got into the first trade. So, given the fact that the trend was already down for the asian session, I didn't worry about getting into a short when the 15 had just risen back above the 50% mark. As far as the shooting star goes, you're absolutely right. The candle wasn't very big, but you have to consider the candle in context:

1) the trend had already been established as going down
2) price was in a retracement off the initial down move, and that shooting star came right in at the 61.8% retracement level. This is a HUGE confluence even though the candle wasn't very long.
3) the candle right after the shooting star closed below the close of the shooting star.
4) the second candle after the shooting star was a STRONG down candle (one that opened near the high and closed near the low) that also coincided with a stochastics close below 50% continuing the downward move.

Taking all of those factors together, I thought the trade was relatively safe.

I hope that helps explain my reasoning.
  • #1,045
  • Jul 15, 2007 7:53pm Jul 15, 2007 7:53pm
Quoting k2kv
But -- why are you using bars instead of candles in your charts, if you're interpreting candlestick patterns?

Jeff
Jeff,

That's an excellent question. It's really just one of aesthetics. Having the charts zoomed in all the way makes the candles look ridiculous, in my opinion. So the bars just look better to me when zoomed in that hard. It is tougher to interpret the candle signals, though. I do, when trading, flip back and forth between bars and candles to make sure I am seeing the candle patterns correctly.

Tom
  • #1,046
  • Jul 15, 2007 8:00pm Jul 15, 2007 8:00pm
Tommy,

Ah so. Thanks for explaining.

I won't tell Master Nison...
Jeff Singer, K2KV
  • #1,047
  • Jul 15, 2007 8:49pm Jul 15, 2007 8:49pm
It looks like the GBP/JPY is setting up for a possible short position:

1) H4 Stochastic is finally below 76.4.
2) H1 price has retraced to the 61.8% level from downmove started Friday.
3) H1 stochastic looks like it is flattening out at the 50 level.
4) M15 & M30 stochastic already over 76.4.

I am looking for, in the next few hours, a cross down of the M15 & M30 stochs below 76.4, coinciding with the H4 stoch and a cross of the H1 stoch below the 50 level.

Does anyone else see this the way I see it?

Hopefully we'll be in for a big downward move.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY setup 15JUL2007.jpg Size: 93 KB
  • #1,048
  • Jul 15, 2007 10:16pm Jul 15, 2007 10:16pm
Well that didn't take very long! I have posted an image showing how I made my decision to go short. As you see on the chart, the M15 closed below 76.4 @ 2:30 GMT. The M30 closed below 76.4 @ 3:00 GMT. The H1 stoch is *almost* crossed @ 3:00 GMT. That's good enough for me. I know that Spud would say to wait one more hour to get the H1 to close below 50, but it looks good enough to me right now.

As an aside, I labeled the candlestick patterns that gave an early warning to the downturn in the stochastics. On the M15 there is a great evening star pattern that showed up 3 bars before the stoch crossed. On the M30 there was a dark cloud cover pattern 2 bars before the stoch signal. And on the H1 there was a shooting star 1 bar before entry.

As I write this I have already covered the spread and am up 6 pips. I am shooting for 50 out of this one. We'll just see how it turns out.

I just can't thank Spud enough for showing us the way!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY entry 15JUL2007.jpg Size: 99 KB
  • #1,049
  • Jul 15, 2007 10:32pm Jul 15, 2007 10:32pm
Tommy,

Looks like a great trade.

Where are you located? I'm east coast, NY, will check back in the morning to see how you made out.

Good luck!
Jeff Singer, K2KV
  • #1,050
  • Jul 16, 2007 7:06am Jul 16, 2007 7:06am
I had forgotten that Japan had a holiday, so the GBPJPY didn't move as much as I thought it would. After a retracement to the 61.8% level, I revised my TP and got out with 20 pips.

I have started my own trade journal, so that I will not be cluttering up Spudfyre's thread with my own trades. If anyone is interested in following it, here it is:

http://www.forexfactory.com/showthre...78#post1495878

By the way, does anyone know why, when I try to upload a gif image (which I have done before), the forum would automatically change the file type to jpg? I just don't want people to have to click on the link to see the image...Oh well.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY exit 16JUL2007.jpg Size: 85 KB
  • #1,051
  • Jul 16, 2007 10:19am Jul 16, 2007 10:19am
came across a indicator called mtf stochastics I believe it uses Step Mas

quick ?. does this repaint the past or is it a live indicator?> Like at the red arrow did the white line cut down at that point in time or a few bars after the fact.
Attached Image (click to enlarge)
Click to Enlarge Name: mtf.jpg Size: 88 KB
  • #1,052
  • Jul 16, 2007 12:30pm Jul 16, 2007 12:30pm
Quoting Jimmywa
came across a indicator called mtf stochastics I believe it uses Step Mas

quick ?. does this repaint the past or is it a live indicator?> Like at the red arrow did the white line cut down at that point in time or a few bars after the fact.
Hi Jimmy,

I've not seen or used that indicator myself but if you want to view it's activity live I suggest you just stick it on a 1 minute chart and watch it for a while.

You will soon be able to judge the value of its signals and whether it repaints or not.

G-Man
  • #1,053
  • Jul 16, 2007 3:53pm Jul 16, 2007 3:53pm
Quoting Jimmywa
came across a indicator called mtf stochastics I believe it uses Step Mas

quick ?. does this repaint the past or is it a live indicator?> Like at the red arrow did the white line cut down at that point in time or a few bars after the fact.
If you are using the latest version by IYA, then it is pretty good. But obviously for the longer timeframes whose current bars have not yet closed, the the value of the indicator is going to change - since it is bades upon the Close of the bar.
Thus if as used by SPUDFYRE, you place it (repeatedly into the same window on a 15 Min chart and edit it so it displays the 30min Stochastic, the 60min Stcohastic and the 240min stochastic) then for the 30,60 and 240 stochs it may/will repaint if their current bars did not close with the 15min bar. This is usually only a problem for the 60 and 240min timeframes. But the huge advantage when trading based on MTF stochastics is that you can see all 4 of them on the same screen.
You just have to bear in mind that some of the bars have not yet completed and in the worst case won't do so for another 225min.


Ian
  • #1,054
  • Edited Jul 19, 2007 5:52pm Jul 18, 2007 11:55pm | Edited Jul 19, 2007 5:52pm
I get the idea, but I have a fundamental question.

When you are looking at Stoch crossings, do you look at the Stoch values of the last completed candle on all time frames?

Thanks.

Skip it. I got it.
  • #1,055
  • Jul 19, 2007 1:18am Jul 19, 2007 1:18am
Quoting blueruby
OK, this seems to be working. Had to download and reinstall Interbank to get the compiler working.

Here's what it does.

Attach to any chart, any timeframe. It will use the pair from the chart it is on, but uses its own timeframe settings.

Set the high limit and low limit. Default are 80 and 20, respectively.

If the 5,3,3 stochastic main and signal are all below the low limit, or all above the high limit, on the 15, 30, 1H, and 4H, you will get a popup alert and, if the Sound option is true, will play a sound.

It will give the alert again on the next bar.

If EmailAlert is set to True, it will send one email. You will have to re-initiate the indicator or it won't send another email. Detach and re-attach.

QUESTION: Should I make it so that if any 3 adjacent timeframes agree, the alarm sounds?
I see your indicator uses just 533 on 4 timeframes. However, doesn't Spud say to use 533 and 1433?
  • #1,056
  • Jul 19, 2007 8:01am Jul 19, 2007 8:01am
hello
good day all
please how can i get many time frames of stoch in one window of indicators as |( 15m.30.1hr.4hr) with same value......
thank you ...
  • #1,057
  • Jul 19, 2007 9:24am Jul 19, 2007 9:24am
Manforlove,

Hello. Just click on the MTF Stochastic title that you are on now, look to the fifth subtitle down: "How to set up the MTF Stochastic Indicator".

Spud was kind enough to explain for those of us who couldn't figure it out. The indicator is listed in the thread. Good luck.
  • #1,058
  • Jul 19, 2007 6:40pm Jul 19, 2007 6:40pm
Quoting TEB63
Hi Spud

I have all this stats from the weekend
I wanted to get it to you to look @ it- its a amazing
infact I am changing the set up of my Stochs

as a % of pip change in an up trend there is where the big moves happen

1. 15%-20%
2. 75%-80%
3. 80%-85
4. 20-25%
5. 50%-55%

I asked some computer programer traders why?
& it all makes sence - bacisal they buy when everyone sells
or just before everyone is getting in

anyways can not sent data by FF
send me your emal & I will try if you like to send it to you
big big file not sure I can break it down

anyways I thnk you would like to see it

TEB
TEB, what are you settings for this? I've been using 1H and 4H w/ both 533 and 1433 on both of them.

Where/How do you figure your %'s?
  • #1,059
  • Jul 19, 2007 6:58pm Jul 19, 2007 6:58pm
et al,

I've made an EA based on the Method I information I found in this forum and the 'SpudFrey stochs.mq4' also found here. The rules for Method I, I found in 'Manual1.doc'. I don't remember who posted it, but thanks. I don't remember who posted 'SpudFrey stochs.mq4' either, but thanks again also.

I added the 14,3,3 stoch's to this.

I've taken out all of the money management stuff, so testing should be straight forward.

It didn't do well. It had losses. So, I was hoping for some kind people in here to test it, take an 'in depth look' at the results and help me fine tune it. Then once it's fined tuned and working well, It would be here for all to share.

After all, like Spud himself says "If someone has a Forex system that works, than why do they have to sell it to you? My systems are free because they are what I use to make my living...and you can use them too...but don't sell them!"
Attached File(s)
File Type: mq4 SpudFrye Method I EA.mq4   17 KB | 882 downloads
  • #1,060
  • Jul 20, 2007 8:39am Jul 20, 2007 8:39am
Quoting nondisclosure00
et al,

I've made an EA based on the Method I information I found in this forum and the 'SpudFrey stochs.mq4' also found here. The rules for Method I, I found in 'Manual1.doc'. I don't remember who posted it, but thanks. I don't remember who posted 'SpudFrey stochs.mq4' either, but thanks again also.

I added the 14,3,3 stoch's to this.

I've taken out all of the money management stuff, so testing should be straight forward.

It didn't do well. It had losses. So, I was hoping for some kind people in here to test it, take an 'in depth look' at the results and help me fine tune it. Then once it's fined tuned and working well, It would be here for all to share.

After all, like Spud himself says "If someone has a Forex system that works, than why do they have to sell it to you? My systems are free because they are what I use to make my living...and you can use them too...but don't sell them!"
Okay I am still a noob at coding but I can see a mistake.

Your code for
Inserted Code
double main_152 =
is incorrect .. period should be m15 not m1.

I will see if I can play around with it too


I will look at
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