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  • #501
  • Edited 7:38am Nov 5, 2007 5:52am | Edited 7:38am
Quoting pip pirate 2
Eyevoltage you are so right in many ways. The DZ green line is one of the best indicators out there. I just use it long and short. As long as it has some distance between the green line and the blue line it is safe as you know. You are correct that it is good not to go against the trend, but when I get good signals from all the indicators I have to go. Now for your answer to the triple hull. I love it as it can be an alert to an up and coming move. Look at the chart a few post back that I posted and you will see a perfect triple on the left. In this example long, 1. The blue line (RSI)must be heading up at 2 o'clock or steeper. 2. The dotted lines of triple hull and CCI must be following it closely and with a similar angle. CCI will usually hug the blue RSI. 3. Most important is how the LSMA reacts to all of this. In this example, it is at the bottom and then must start to go long. The LSMA moves more like a moving average and follows the candle moves. So if the LSMA is not moving long, then there is no trade as the blue lines will go up and down a lot with false moves. So if all the indicators here are moving together there is a good chance of a move. Usually this combo will give you a clue, especially on the bigger charts, that a move is coming soon. Then you use the other indicators to confirm and make the trade. So maybe just look at the triple hull on the H1 and M30 charts just to see if a move is coming, not to trade off of as you use the M15 charts the most. It gives me confidence that when I see a move starting, that I know it will give some pips. Try it out.
Thanks for all the info, pirate. I have a few templates for this method, but none of them seem to fit the bill somehow. The Triple Hull comes up with just RSI2, CCI6 and lsma3, so I'm missing the actual TH Levels 1 and 2 would you believe? I'll have a quick look through the attachments, and see if there's anything there, when I've finished this. I'll really have to go back in this thread to where this new method started, and read it again, because I've only a vague idea of how the TH operates. If and when I finally crack it, I probably won't go up to 4H, mate, but possibly 1H at the very most!
Just going off topic, mate.....watched a triple header here last evening. First off was the Chargers at the Vikings, which turned out to be a stuffing for the Chargers! The Vikes defence was awesome, as was the rookie running-back, Peterson. Next was the Patriots at the Colts, and that was pretty good, with the Patriots getting a win in overtime. I only got half-way through the last game, which was the Cowboys at the Eagles. When we reached half time, it was around 2.30am here, and I couldn't keep my eyes open any longer!! I know Dallas were winning, but I still don't know the final result.
Keep smiling, mate.
Cheers

Edit: Just found out the Cowboys beat the Eagles, mate. They're having a good season!
  • #502
  • Nov 5, 2007 10:13am Nov 5, 2007 10:13am
Now last night, for me, the trend on the pound is long so I was not confident in taking this trade. But what we learn is the market is going to do what it wants. The arrow is at 7GMT. Beautiful green line on the dynamic and the RSI part of the triple hull was straight down. Had to get in right when London opened. You can see by the next candle with the wicks that it was moving around. Good 50 pips in the first hour.
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  • #503
  • Edited 1:19pm Nov 5, 2007 1:16pm | Edited 1:19pm
Quoting pip pirate 2
Now last night, for me, the trend on the pound is long so I was not confident in taking this trade. But what we learn is the market is going to do what it wants. The arrow is at 7GMT. Beautiful green line on the dynamic and the RSI part of the triple hull was straight down. Had to get in right when London opened. You can see by the next candle with the wicks that it was moving around. Good 50 pips in the first hour.
Hey pirate.
Great chart, mate. 07.00 here would have been around 23.00 in your neck of the woods, am I right?

Pirate, would you do me a favour and take me through the chart from the first signal you spotted. Was it the green/blue cross in the DZ, or was it something else? Plus, I noticed that the MACD had been in negative territory from some while before the trade. Mainly, I get a bit confused by the Triple Hull window, so maybe you can enlighten me a little?

Thanks in advance, mate.
Cheers
  • #504
  • Nov 5, 2007 2:50pm Nov 5, 2007 2:50pm
Quoting eyevoltage
Hey pirate.
Great chart, mate. 07.00 here would have been around 23.00 in your neck of the woods, am I right?

Pirate, would you do me a favour and take me through the chart from the first signal you spotted. Was it the green/blue cross in the DZ, or was it something else? Plus, I noticed that the MACD had been in negative territory from some while before the trade. Mainly, I get a bit confused by the Triple Hull window, so maybe you can enlighten me a little?

Thanks in advance, mate.
Cheers
This wasn't the best chart by far. You can see from other charts better examples. Yes it is 11pm my time. If you look at a H4 chart, you can see on the zeromacd's that there was two flat macd's at the start and during the asian session. So there is the first clue. I watched the asian session and you could tell that there wasn't a lot going on or reasons to move any pairs. So I waited for later in the asian to see if there will be a move. Since it is Sunday/Monday I like to believe that there will be action sometime. Now the triple hull wasn't very good during the session until the time where I put the arrow. It goes straight down, which is a clue. The green line in the dynamic is below the blue line for hours so that was another clue. Then the green line took a dive also which made me more confident. The macd's were not very clear. This is why I don't post all the time as I like to show the best chart examples. but here it worked. Also a good point: All the gbp pairs were going short at the same time so that was another clue. So eyevoltage, look back on this forum and you can find better examples of the triple hull.
  • #505
  • Nov 6, 2007 11:40am Nov 6, 2007 11:40am
Here is another example. I know that there are many who don't trade this pair but it is a good example today. You will see 3 big moves. The long move in the middle was at the end of the US session and through the asian session. You can see that it moves a lot long and short so it can be a real ride. If you have the patience it became a great move. but another move was at the open of the US session. The first arrow on the triple hull was at 8GMT. You can see that the blue line on triple is going short. You could have gotten in the trade and made a few pips but as you can see the london session bounced around. So take the pips and get out. Then you see the second arrow at 11GMT. Now notice that the height of the second blue line is lower than the first arrow. This can be important as it can signal a short move coming. At the zeromacd there have been 4 relatively flat macds during the london session, also signaling a possible move coming. At the arrow at the macd, at 13 GMT, here comes the short move. The HMA color moving average changes color and the green line in DZ also was going short. The shape of the triple hull et all is looking good also. And don't forget the candles. So you need multiple indicators to add in your decision.
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  • #506
  • Nov 7, 2007 6:10am Nov 7, 2007 6:10am
Many thanks indeed, Pirate, for those two charts and your analysis. There is still a lot to take in and a lot to look at, but I think it's all starting to come together now, and make more sense to me. As I said before, I don't think I'll ever trade higher than 1H purely and simply because "position" trading just doesn't appeal to me. So the 1H will suit me fine.
I haven't done anything this last couple of days, except read the threads in FF, trying to digest not only this method, but boxingislife's thread on "sexy stochastics", which I've found to be VERY informative, as I've never really understood stochs before.
However, I won't desert Dollie/Guppy. See next post for the reasons why!
Thanks again, me old mate.
Cheers
  • #507
  • Nov 7, 2007 6:46am Nov 7, 2007 6:46am
Cable offered this opportunity just before 9.00am GMT. Guppy was well separated for ages before the trade, but as you can see, price was just ambling along the M4 line with the Guppy ST's congesting all the time, even though the LT's were looking very strong. The DZ showed the green RSI line headed south and nothing seemed on at all. However it all changed rather suddenly, with the green RSI line crossing the blue MA and the orange lower band at the same time. Simultaneously, there was a rapid widening of the orange/blue zone in the middle window, with the RSI2/CCI6 looking as it wanted to make up for lost time! My entry was a little after the M4 line. I normally like to wait for a candle opening ABOVE the line, but in this case, everything just seemed to be so damned PERFECT, so I jumped in. The DZ green and blue lines were separating well, so I sat back to enjoy the ride. (No, I didn't! ). There wasn't much bear activity until the third candle, when price tested the R3 line and fell back a bit. I could have got out then, but honestly, with Guppy looking the business, I thought I'd chance it, and I'm glad I did. A doji re-tested the resistance, before another positive candle punched straight through it! I got myself in a bit of a "tizz" trying to exit just then, which explains why I exited when I did, although the lsma3 had just left the zone, and the CCI6 was in the process of doing so as well. As I type this, R3 has been tested again three or four times, and it looks as if price has given up and is starting to go short in a sulk!
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  • #508
  • Nov 7, 2007 11:52am Nov 7, 2007 11:52am
Very good trade. You can see the candle before the move compressed like a spring ready to go. I'm amazed that they just blew through the 1000 mark like it wasn't there. Look at the flat macd's on M30 before the move and how all the candles were just waiting for something.
  • #509
  • Nov 7, 2007 5:08pm Nov 7, 2007 5:08pm
Quoting pip pirate 2
Very good trade. You can see the candle before the move compressed like a spring ready to go. I'm amazed that they just blew through the 1000 mark like it wasn't there. Look at the flat macd's on M30 before the move and how all the candles were just waiting for something.
Pirate, I'm still a bit in the dark re parts of the new method. I've attached a 30m chart with my entry from the 15m marked with the yellow vertical. (I've closed the ADX window to aid clarity, as my screen ain't that big!) From the bottom, I can see the green crossing the blue. In the middle, I can see the flat macd's you mentioned, plus the blue RSI2 crossing the zero line, closely followed by the red ZeroLag MACD. In between them crossing the line, there's a lone solitary positive MACD starting to poke up. So I take it that everything I've mentioned that's happening in the MACD window is relevant? In the chart window, of course, things are pretty clear. The only thing that's different from my chart is the entry point. On this 30m chart, I wouldn't have entered the trade until price had cleared the HMA hurdle, whereas on the 15m chart, I didn't have that problem. Now then. I'm sorry, mate, but the Triple Hull still continues to elude me. For the life of me, I still can't see what it's trying to say. The lsma3 has crossed the zero line roughly at the same time as the MACD signal and the DZ signal, and for a short time, ALL indicators in the Triple Hull are above zero. Is this significant? Plus, where's the exit point supposed to be? In the method I use, exit is somewhere around where lsma3 is leaving the orange/blue zone, but I can't see a clear exit point on this method.
I hate to try your patience, mate, but a little more help would be greatly appreciated.
Cheers
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  • #510
  • Nov 7, 2007 9:38pm Nov 7, 2007 9:38pm
Quoting eyevoltage
Pirate, I'm still a bit in the dark re parts of the new method. Now then. I'm sorry, mate, but the Triple Hull still continues to elude me. For the life of me, I still can't see what it's trying to say. The lsma3 has crossed the zero line roughly at the same time as the MACD signal and the DZ signal, and for a short time, ALL indicators in the Triple Hull are above zero. Is this significant? Plus, where's the exit point supposed to be? In the method I use, exit is somewhere around where lsma3 is leaving the orange/blue zone, but I can't see a clear exit point on this method.
I hate to try your patience, mate, but a little more help would be greatly appreciated.
Cheers
Eyevoltage: To no fault of your own, this is a bad example of the triple hull et all to use as an indicator. You are correct when it doesn't give a great signal. I will answer your questions first. 1. Indicators above zero is a positive sign. 2. The exit signal. Here is where the RSI2 on the triple hull is good. If the blue line, RSI2, starts reversing direction straight up or down, it is time to think about an exit. Look at the candles to help confirm.The RSI is a early signal indicator that says: "Hey mate, something is going to happen". The bad news is that it give false signals all day long. That is why you have to use it with all the other indicators together. 3. LSMA and exits. On a good move, I also look to exit when the blue RSI and LSMA touch at the top or bottom of the indicator. Then I get nervous and look for a possible exit. Not necessarily get out but start to watch it.
I like the triple hull when an important time of the day is coming up. We all know that there are certain times of the day when there is a possible move coming, like opening of the 3 sessions. The triple hull will let me know, usually one candle ahead or more, that there is a possible move coming on this pair. Then I look at the macd's for a flat candle. Then I look for the green on DZ and if it says go, then go. When the triple hull looks the best, it screams Here comes a move! but it doesn't look the best most of the time.
What interests me about your chart is the look of the lsma. As you can see with my chart, taken at the same time, is that my lsma is different than yours. My pink lsma is going along the bottom and then makes the move up. This is important to the system. The lsma should lag behind the blue line in timing but it should go in the same direction, at roughly the same angle, and best if it starts at the top or bottom, not in the middle. I don't know why our two lsma's are different. You are right that the M15 chart looks better. This can be true with the triple hull that you need to look at many charts to see if it looks good. Look at the following posts: #496 on the left side is great. #471 on the right side. #457 there is two great triples. These examples are the best looking triples. Many times it doesn't look that great so don't use it. That is why we need several indicators to tell us to take the trade. but when it looks great, there can be a very good trade and then the exit. Never a problem to help the team. I need to give more.
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  • #511
  • Nov 7, 2007 10:37pm Nov 7, 2007 10:37pm
Here's a better example of Dollie today. The first arrow above the Blue line on the RSI is at one height. The second arrow has made a lower height. So we have lower highs. Notice that the candles above are not really showing a short move yet. Then you see that the RSI et al are moving short, and the arrow above the candle has the move really starting. The move was at 18GMT. No flat macd's but there are going short. the green on the DZ is great as always.
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  • #512
  • Nov 8, 2007 5:36pm Nov 8, 2007 5:36pm
I truly appreciate the time and effort you've put in trying to hammer "the knowledge" home into this dunce's head, mate!! I studied your charts closely and took note of all your comments regarding the different indicators. I see now why you need so many. If one doesn't look right, then don't use it, as long as the others are ok.......am I right? Makes life a lot easier, pirate, I don't mind telling you! I guess I'll still struggle with the Triple Hull, but at least there is now a glimmer of light on the horizon. I'm as puzzled as you are re the lsma3, mate. It seems to have a life of its own as the chart moves along. Having said that, I've attached my version of the GBP/JPY chart you posted. You can see the obvious difference, can't you? Where you have two lovely lower highs, I simple have a straight top! Explain that, if you can, 'cos I can't! The only reason I can think of is that my computer is a bit of a dinosaur with quite a small screen compared with the latest machines, so my screen shots are, shall we say, somewhat "compacted"!!
I haven't looked at those other charts you suggested just yet, but I will get around to it. I've been a bit busy today, for reasons I won't go into here, so very little time to "chart gaze"!
By the way, the Dynamic Zone RSI works very well with other methods, mate. I've been looking at other systems and methods, just out of curiosity, and it's amazing how the DZ, when applied, improves the method no end! It's a killer.............did Dollie invent it or did it just appear one day in a flash of light as a message of hope for mankind? Either way, it's the dog's bollocks!
Cheers for now.
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  • #513
  • Nov 8, 2007 6:03pm Nov 8, 2007 6:03pm
Eye: I have no idea why our screens are different. I do have a new 22" screen that a friend bought for me out of the blue. He has his doubts still about me trading for a living but does support me. Don't worry so much about the triple, as it is one of many indicators. Where Dollie gets these indicators is a mystery to me. I think she gets them from others and then plays with it. I know she is always working on them to make them better. I told her these were fine, it is me that has to use them properly. Lately I realize I have been struggling with reading candles correctly. Remember I used a totally different system and am less than a year old learning how to use normal charts and indicators. The goal is the same: Gather pips regularly and who cares what system works for you. I love this one and will continue to use it.
  • #514
  • Nov 10, 2007 3:17pm Nov 10, 2007 3:17pm
Quoting pip pirate 2
Eye: I have no idea why our screens are different. I do have a new 22" screen that a friend bought for me out of the blue. He has his doubts still about me trading for a living but does support me. Don't worry so much about the triple, as it is one of many indicators. Where Dollie gets these indicators is a mystery to me. I think she gets them from others and then plays with it. I know she is always working on them to make them better. I told her these were fine, it is me that has to use them properly. Lately I realize I have been struggling with reading candles correctly. Remember I used a totally different system and am less than a year old learning how to use normal charts and indicators. The goal is the same: Gather pips regularly and who cares what system works for you. I love this one and will continue to use it.
Wow! A 22" screen? I have to admit that recent developments have passed me by computer-wise, mate, and I'm still using what would be considered a museum-piece now, I guess. However, that will hopefully change in the very near future, as I fully intend getting up to date, so to speak! And about time too.
I'm wondering what you meant by "realizing that you're struggling with reading candles lately". When I started looking into this game, candlesticks were one of the first things I studied, so that I had at least a rudimentary knowledge of them. Once you've got that, you then continue to learn as you go along, which is the beauty of the candlestick theory. I find that I'm not comfortable with line or bar charts, as you can't instantly weigh up situations with them like you can with candlesticks. Anyway, as you know, they've been around for centuries, so that's more than good enough for me.
And I couldn't agree more with your statement: "Who cares what system works for you"............as long as the pips keep coming in, that's all that matters.
Also, thanks for your kind comments in your PM. One just has to get on with it. No choice in the matter, my friend.
Cheers for now.
  • #515
  • Nov 11, 2007 12:47am Nov 11, 2007 12:47am
Eyevoltage, what I meant by struggling with candles is that I bought a trading software program that only had what looks like two moving averages, although it is more complicated than that, for a lot of money. So for 2 years I only use that and never saw a regular chart with candles and indicators. My challenge has been to see what it really happening in the moment and then placing the trade with confidence. I have to study for weeks and see it over and over again to "make sure" that what I see is correct most of the time. Everytime I have changed a time frame or indicators the process starts over again. It's getting better every minute and every day as I build the confidence.
  • #516
  • Nov 12, 2007 7:36am Nov 12, 2007 7:36am
A little while ago, pip pirate2 asked me why I always seemed biased towards long trades as opposed to short trades. I think that this chart answers his question to a certain extent. The yellow arrow indicates that the DZ is telling us something's going to happen. The green arrow in the chart window indicates the entry point, because it's right under the S1 line. Now strictly speaking, the entry point should be where the lsma3 enters the orange/blue zone (indicated by the red arrow), but as I've said before, it always seems to me to indicate a short entry a lot later than it would a long one. Plus, if you look at where price is, precisely above the red arrow, you can see how many pips you'd have had to miss before you finally got in. Which is why, on trades like this one, I always give priority to the CCI6 and the point at which it enters the orange/blue zone (indicated by the green tick). Then, it's just a case of waiting for price to breach the S1 line, and if you also notice what Guppy's telling you by the separation of its ma's, then you can enter with confidence. The blue arrow indicates where the exit point would have been (just as it reached S2), and I estimate a potential profit of 238 pips (less spread)! However, if you'd have waited for the lsma3 to do its stuff, then entry would have been at the opening of the candle just under M1. The same candle, in fact, that I've just nominated to be the potential exit point at its close. In this case, profit would have been limited to a mere (!) 61 points (less spread).
To be honest, I didn't take this trade as I was otherwise engaged, only spotting it as it was coming to an end (drat!).
So, the message is, be flexible. Don't just rely on the lsma3 for your entry point. There are other, more reliable, signals sometimes, and it pays to have a bit of patience and LOOK for them!
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  • #517
  • Nov 12, 2007 7:51am Nov 12, 2007 7:51am
Quoting pip pirate 2
Eyevoltage, what I meant by struggling with candles is that I bought a trading software program that only had what looks like two moving averages, although it is more complicated than that, for a lot of money. So for 2 years I only use that and never saw a regular chart with candles and indicators. My challenge has been to see what it really happening in the moment and then placing the trade with confidence. I have to study for weeks and see it over and over again to "make sure" that what I see is correct most of the time. Everytime I have changed a time frame or indicators the process starts over again. It's getting better every minute and every day as I build the confidence.
Thank you for answering my question, mate. I can appreciate how difficult it is for you to get so used to one platform, and then have to do it all again, so to speak. No wonder you were having problems, and it's a credit to your sheer tenacity that you seem to be succeeding in your efforts.
Keep at it, mate!
Cheers
  • #518
  • Nov 13, 2007 8:19am Nov 13, 2007 8:19am
  •  Derm
  • | Joined Aug 2007 | Status: It's all about The Pips | 42 Posts
Hi Eye and Pip (sounds like a double act)!!

Well I guess you are really as between the two of you you have kept this thread going for which I thank you.

I came across this a couple of days ago, and would have posted earlier but have spent an age reading all posts and studying the charts with the excellent analysis.

I mainly trade off the lower TF. I must say I was very pleased when I came across Eyevoltages' posts to say that you were trading the 5m. Having said that I have long been thinking off setting up a new account to trade the longer TF (on micro lots to start), so I have also learnt much from Pip as well.

I must admit I can't believe that this thread is so quiet with the excellent results most who have visited here have obtained.

Once I get my templates sorted I plan to join you guys in posting charts and hopefully join in the discussions.

Excellent thread.


Derm
  • #519
  • Nov 13, 2007 9:53am Nov 13, 2007 9:53am
Hello Derm and welcome to the thread. I don't post that much anymore (I did a few pages ago) but check the thread everyday to see if there are any good updates. I also scalp and recently began working off the 1min charts. I don't recommend this for a beginner. You have to be quick and have a strong stomach but I find it exciting. Anyway, I still use Dollies original setup with the LSMA as well as a GMMA Slow Indicator (guppy) as well as 4 EMAs (8 10 12 16). I also use the Dynamic Zone RSI and the Average Directional Movement (ADX) set to 7 and wait for the 45 line to be breached. I strongly recommend you use this if you are going to scalp. According to Investopedia: "The ADX is measured on a scale between zero and 100. Readings below 20 are used to indicate a weak trend, while readings over 40 indicate a strong trend. ADX is not used to determine the direction of a particular trend, but only to gauge its strength."

I don't ever go against the GMMA and I make sure the EMAs are starting to separate. (I got this from Eyevoltage). One I see that the GMMA and EMAs are working together I check my other indicators and then make a move. I've attached three charts from this morning where I netted over $800 bucks. Let me know if you need any of the indicators.

Jake
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  • #520
  • Nov 13, 2007 10:18am Nov 13, 2007 10:18am
  •  Derm
  • | Joined Aug 2007 | Status: It's all about The Pips | 42 Posts
Hi Jake

Many thanks for the welcome.

Also many thanks for sharing your scalping strategy and for posting charts. Very impressed with your results earlier today.

I am going to be a busy boy looking at these new setups!!

Thanks Again

Derm
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