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faulty trendlines?

  • #1
  • First Post: Aug 14, 2007 12:44pm Aug 14, 2007 12:44pm
Has anyone noticed that trendlines drawn in mt4 do not traslate to different time frames. The trendline I have drawn on the weekly GBP/USD has not been touched, but when i go to the daily, price has pierced it. Whats goin' on there?
  • #2
  • Aug 14, 2007 12:48pm Aug 14, 2007 12:48pm
Quoting Ted1983
Has anyone noticed that trendlines drawn in mt4 do not traslate to different time frames. The trendline I have drawn on the weekly GBP/USD has not been touched, but when i go to the daily, price has pierced it. Whats goin' on there?
Yes, because it has to estimate what you mean if you draw a weekly and then look at a daily.

The way I do it is draw the weekly and then switch to the daily and set it to the correct peaks or valleys. then when you go back to the weekly it will not have changed, because those peaks and valley were dailies within the week. And the daily will now be correct as well for a weekly trend line


Same is true for other lower time frames.
  • #3
  • Aug 14, 2007 12:51pm Aug 14, 2007 12:51pm
Ted: This thread may have your answer, as far as how to line up the trend lines on diff timeframes.
http://www.forexfactory.com/showthre...ble#post247041

Quoting Ted1983
Has anyone noticed that trendlines drawn in mt4 do not traslate to different time frames. The trendline I have drawn on the weekly GBP/USD has not been touched, but when i go to the daily, price has pierced it. Whats goin' on there?
In trading, there is no bullshit. You either make money or you don't.
  • #4
  • Aug 14, 2007 12:53pm Aug 14, 2007 12:53pm
Quoting mrgreen
Ted: This thread may have your answer, as far as how to line up the trend lines on diff timeframes.
http://www.forexfactory.com/showthre...ble#post247041
I like your answer better, I deleted my post, you said it better...
  • #5
  • Aug 14, 2007 1:00pm Aug 14, 2007 1:00pm
I already tried that, but still it does not seem to work, hmm. Could it be that this effect is more pronounced as the factor of time increase gets larger.

Still I dont see why it should occur, because the equation of the slope of the line is on the same axes in any time frame, its just like putting your eye closer to the paper!?
  • #6
  • Aug 14, 2007 1:03pm Aug 14, 2007 1:03pm
Quoting Ted1983
I already tried that, but still it does not seem to work, hmm. Could it be that this effect is more pronounced as the factor of time increase gets larger.

Still I dont see why it should occur, because the equation of the slope of the line is on the same axes in any time frame, its just like putting your eye closer to the paper!?
I undeleted my post. try what I do it works for me.
  • #7
  • Aug 14, 2007 1:36pm Aug 14, 2007 1:36pm
Quoting Ted1983
I already tried that, but still it does not seem to work, hmm. Could it be that this effect is more pronounced as the factor of time increase gets larger.

Still I dont see why it should occur, because the equation of the slope of the line is on the same axes in any time frame, its just like putting your eye closer to the paper!?
2 things you might want to look at.
(1) Setting the parameters of the trend line to the first point and the second point based on the candle data
Attached Image
  • #8
  • Aug 14, 2007 1:38pm Aug 14, 2007 1:38pm
go to 'Tools/Options' select 'Objects' and tighten the 'Magnet sensitivity'
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  • #9
  • Aug 14, 2007 1:44pm Aug 14, 2007 1:44pm
Peter I agree, but this will not fine tune the line to the smaller time frame's peaks and valleys. I think no matter what, one has to set up the trend line in the larger time frame and then go to the smallest time frame they are going to use it and adjust the trend line to the peaks or valleys there, that are contained within the largest time frame. I think this is an awkward short coming of MT4.
  • #10
  • Aug 14, 2007 3:03pm Aug 14, 2007 3:03pm
Quoting smjones
Peter I agree, but this will not fine tune the line to the smaller time frame's peaks and valleys. I think no matter what, one has to set up the trend line in the larger time frame and then go to the smallest time frame they are going to use it and adjust the trend line to the peaks or valleys there, that are contained within the largest time frame. I think this is an awkward short coming of MT4.
It doesn't completely solve the problem but I found it keeps the points closer as long as you draw them as accurately as possible.
It's an annoying little thing, isn't it?
  • #11
  • Aug 14, 2007 3:34pm Aug 14, 2007 3:34pm
Yes it is, considering I usually draw my trend lines in different thicknesses and colors to indicate the time frame they are from. So to have the ones in the larger time frame not coincide with the smaller time frames, is annoying to say the least...

Oh well, once I got used to fine tuning them, I can do it quite quickly... The thing is, Trend lines are pretty much all I ever use, besides candlesticks for price action and an aggregate Trend indicator I wrote, that prints a ratio of up to down pips
  • #12
  • Last Post: Aug 14, 2007 3:48pm Aug 14, 2007 3:48pm
I use trade navigator and it does not have this problem but it is not free and i still use mt4 intraday as its more userfriendly.
Correct my tl's as described above.
Si
GOD IS NOT SHORT OF CASH
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