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MTF The Escalator to Pips Strategy

  • #21
  • Sep 22, 2007 10:23am Sep 22, 2007 10:23am
http://i43.photobucket.com/albums/e3...escalator3.gif

UPTREND RETRACEMENT

H4 is your trend. When you see any green color, it's in an uptrend. Vice versa for a downtrend.
In an uptrend, there is always some retracements.
When you see 2 red bars, 1 in the M15 block and 1 in the M30 block, that's a 30-minute retracement.
When you see 3 red bars, 1 in the M15 block, 1 in the M30 block, and 1 in the H1 block, that's an 1-hour retracement.

It's safe to short when you see 3 red bars.
  • #22
  • Sep 22, 2007 10:31am Sep 22, 2007 10:31am
Hi

When I attach the Color Stochastic indicator to my 4H chart and set the time frame of the indicator to 15 it still shows me the 4H indicator. How do I correct this?
  • #23
  • Sep 22, 2007 10:38am Sep 22, 2007 10:38am
I have unfortunately bad news. Any indicator showing H4 on inferior tf will forcibly repaints.

One just cannot look at backtest information to make future assumption.

I have worked on a MTF indicator that shows when sotchs on M15, M30, H1 and H4 are in the same direction but to have something that does not repaint i had to set a i+17 for example to have a signal that does not repaint (in this case, it will show an arrow on the first candle on M15 after the H4 period in a given direction is over ) Too bad, the signal in this case is shown very late and is most of the time not rewarding at all

In fact, you can see just that on the following image http://i43.photobucket.com/albums/e3...escalator3.gif

You can see that the H4 stoch is not extending to the end of the chart hence anything shown by it will appear in fact in the past.
  • #24
  • Sep 22, 2007 10:41am Sep 22, 2007 10:41am
Quoting melpheos
I have unfortunately bad news. Any indicator showing H4 on inferior tf will forcibly repaints.

One just cannot look at backtest information to make future assumption.

I have worked on a MTF indicator that shows when sotchs on M15, M30, H1 and H4 are in the same direction but to have something that does not repaint i had to set a i+17 for example to have a signal that does not repaint (in this case, it will show an arrow on the first candle on M15 after the H4 period in a given direction is over ) Too bad, the signal in this case is shown very late and is most of the time not rewarding at all

In fact, you can see just that on the following image http://i43.photobucket.com/albums/e3...escalator3.gif

You can see that the H4 stoch is not extending to the end of the chart hence anything shown by it will appear in fact in the past.

That's what I was afraid of.
Thanks for the info.
  • #25
  • Sep 22, 2007 11:16am Sep 22, 2007 11:16am
I seem to have the same problem as ericoco. Could someone help me correct the settings or tell me how can i get the bars as Banzai showed at his attached chart.

thanks
  • #26
  • Sep 22, 2007 11:50am Sep 22, 2007 11:50am
Quoting ericoco
Hi Banzai, the stoch bar indicator you posted does not appaerr the same as yours.It only shows a 15m stoch with over bought/sold areas in diff colours.or am i doing something wrong?
The templates should work but if you have to set up manually,

the colors are:
DimGray
DimGray
DarkGreen
Maroon
Lime
Red

Inputs settings for M15 Stoch are:
timeFrame: 15
KPeriod: 5
DPeriod: 3
Slowing: 3
MaMethod: 0
PriceField: 0
overbought: 80
oversold: 20
showBars: true
showArrows: false
alertsOn: false
alertsMessage: false
alertsSound: false
alertsEmail: false

now do the same for M30, H1, and H4 Stochs but you have to change the timeframe inputs.

timeFrame: 30 for M30 Stoch
timeFrame: 60 for H1 Stoch
timeFrame: 240 for H4 Stoch

That's it.
  • #27
  • Sep 22, 2007 12:07pm Sep 22, 2007 12:07pm
Thanks Banzai every thing is working now.
  • #28
  • Sep 22, 2007 12:43pm Sep 22, 2007 12:43pm
I got it right after i wrote my "problem" ....Sorry for been so dumb.


One more thing....It would be perfect if we had a SOUND ALERT when all the bars are green or red...Is it possible for someone to make that ? i would truly appreciate it.

btw thanks for that indicator too.
  • #29
  • Sep 22, 2007 12:47pm Sep 22, 2007 12:47pm
Different brokers have different feeds too. I'm using Interbank FX demo feed so it might be different from FXDD or North Finance.
  • #30
  • Sep 22, 2007 1:31pm Sep 22, 2007 1:31pm
http://i43.photobucket.com/albums/e3...stochbars1.gif

To understand more about the Stoch bars, we plot the Stochastic dot by dot and connect them.
In the source code, we can see the algorithm:

if (KFull[i] > overBought) { Upper[i] = 100; break;}
if (KFull[i] < overSold) { Lower[i] = 100; break;}
if (KFull[i] > KFull[i+1]) { Uptrend[i] = 100; break;}
if (KFull[i] < KFull[i+1]) { Downtrend[i] = 100; break;}

Let's just say the overbought level is 80 and the oversold level is 20, then:

If %K value is from 0 to 19.99 then it's oversold. The color is maroon.
If %K crosses over %D and the value is from 20 to 80 then it's in an uptrend. The color is lime.
If %K value is from 80.01 to 100 then it's overbought. The color is dark green.
If %K crosses under %D and the value is from 80 to 20, then it's in a downtrend. The color is red.

These first two conditions are the ones that will set the level rule.
if (KFull[i] > overBought)
if (KFull[i] < overSold)

Less than 20 is from 0 to 19.99. Greater than 80 is from 80.01 to 100.
  • #31
  • Sep 22, 2007 1:37pm Sep 22, 2007 1:37pm
hi billbss
for backtesting... I wouldn't include this august... because it was not a normal month.
  • #32
  • Sep 22, 2007 5:04pm Sep 22, 2007 5:04pm
Quoting banzai

It's easier to trade this strategy now. Thanks to mladen for creating this wonderful indicator.

Lime = uptrend
Dark Green = overbought
Red = downtrend
Maroon = oversold

Download the Stoch Bars indicator @:
http://www.forexfactory.com/showpost...3&postcount=14

Download #MTF Stochastic v2.0 @:
http://www.forexfactory.com/showpost...&postcount=957

Attached are some templates:

Bonzai wow.

Beautiful!
This is a thing of beauty. Is there any way to set up an alert by email when all four bars are the same color (either the light green or the bright red)? I notice that there are certain times when the Stoch bars are all the same and I would be away from my computer. It would awesome if I could have it send an email to my cell phone.)

bte, does this Stoch Bar indicator repaint?

thanks,
  • #33
  • Sep 23, 2007 4:20am Sep 23, 2007 4:20am
I don't understand why people talk about repainting so much ? These bars showing different colors are doing the same what stochastic are doing. If you don't believe it put your MTF stochastic indicator in your chart as well and compare.

Of course you can't do a proper backtesting with this indicator (actually almost with any indicator it is impossible to get real accurate result)...Backtesting is possible with price action though.

I think the idea behind this wonderful indicator is the SOUND ALERT (which is what i have been looking for some time now and asked for help from different coders here). The KEY is to SPOT the moments when all the stochs are cooperating and only then we are taking a trade. And after the alert i want to look at the stochs and see HOW they are cooperating before i take a trade. Just like Spud has revealed in his escalator to pips.

Anyway this is just my opinion

Good luck in trading.
  • #34
  • Sep 23, 2007 4:41am Sep 23, 2007 4:41am
once more again... This indicator doesn't repaint... but as all the MTF indicators... it must repaint the last bar of the choosed timeframe, which means that in M15, fore example, it can repaint the last 16 bars of the H4 indicator, or 4 bars of the H1, or 2 bars of the M30. This doesn't mean the repainting problem of the past when you deinit and reinit the indicator. Stochs doesn't have that problem.

But... unlesss a very strong movement... if an H4 16 bars block is green, it is very probable that the next H4 bar, or 16 15M bars block, will also be green too.. or dark green... because H4 stochs doesn't change so quickly... just have a look how stochs move.... so. having all the bars green... can be a nice signal. it is just the same as working with the stochs in linear graphs, but this way it is just another visual.

I'm thinking of doing this kind of bars colours indicator for the StochThreads deployment.
  • #35
  • Sep 23, 2007 5:52am Sep 23, 2007 5:52am
I agree with you totally. Emda are you a coder ? is it possible to make a SOUND ALERT for those green and red bars lining up ? thanks
  • #36
  • Sep 23, 2007 8:47am Sep 23, 2007 8:47am
Quoting emda
I can say to you that you can take that trade... but close profits after less pips, because H4 can change direction of price soon. Usually H4 or H1 can be for example over 76.4 for a long time and price keeps going up and up and up... H4 or H1 tries to go down but again turns up.... and all between the 76.4 and 100 range... it would be worse if you take that trade and the H4 already crossed 76.4 But if it is still above 76.4 it doesn't mean that it has to go down.
Can I ask this question in reverse please. If I am following one of the longer TFs ( IH or 4H) up and one of the shorter TFs starts to turn down either before it gets to 76.4 or after is this a sign to exit or do I stay with the longer TF.

Thanks
  • #37
  • Sep 23, 2007 9:35am Sep 23, 2007 9:35am
Hi Spudfyre,

Thanks for sharing your thoughts. I have read and is studying the system and hope to be able to fully utilize it. Again, thank you very much. More power and more pips to you (and me)!

ps: awaiting for your posts on your live trades.

Best regards,
REY
  • #38
  • Sep 23, 2007 9:53am Sep 23, 2007 9:53am
Can someoone make a pop-up alert to signal when all conditions are present?
  • #39
  • Sep 23, 2007 5:13pm Sep 23, 2007 5:13pm
Quoting bundubill
Can I ask this question in reverse please. If I am following one of the longer TFs ( IH or 4H) up and one of the shorter TFs starts to turn down either before it gets to 76.4 or after is this a sign to exit or do I stay with the longer TF.

Thanks
you can't see smaller timeframes than the current chart.. if you follow the 4H or 1H.. you can't see the MTF 15M chart in the 4H chart.
or I don't understand your question...
  • #40
  • Sep 23, 2007 5:40pm Sep 23, 2007 5:40pm
Quoting lumesh
I don't understand why people talk about repainting so much ? These bars showing different colors are doing the same what stochastic are doing. If you don't believe it put your MTF stochastic indicator in your chart as well and compare.

Of course you can't do a proper backtesting with this indicator (actually almost with any indicator it is impossible to get real accurate result)...Backtesting is possible with price action though.

I think the idea behind this wonderful indicator is the SOUND ALERT (which is what i have been looking for some time now and asked for help from different coders here). The KEY is to SPOT the moments when all the stochs are cooperating and only then we are taking a trade. And after the alert i want to look at the stochs and see HOW they are cooperating before i take a trade. Just like Spud has revealed in his escalator to pips.

Anyway this is just my opinion

Good luck in trading.
What I highlighted above is why people talk so much about repainting- Not only can you not do a proper backtest, any bactesting you do is meaningless, if you're simply looking at the chart.

That is not true of indicators that do not change state after the close of the bar.
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