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SRDC Episode II

  • #1,641
  • Dec 27, 2006 1:47am Dec 27, 2006 1:47am
Quoting Lamdun
I've asked this before but i got no response, so here goes again.

Why is Orange using Cable, Euro, and the aussie if they are so highly correlated? If one trade goes in the wrong direction, won't all three open trades go wrong?
Trade each pair saperatelly without any bias on the correlation. On 19th Dec EUR was showing sign of breaking from the channel earlier before Cable. But this is left to your experience. The 3 pairs are for SRDC I mostly. They are not very volatile as JPY pairs.

However, it is wise to study one currency only which is Cable as Episode II takes more experience and understanding in execution of trades.

Happy New Pips!!
Change Your Thinking. Change Your Life - JD
  • #1,642
  • Dec 27, 2006 2:15am Dec 27, 2006 2:15am
"SDC"? Sorry if I missed it but what is this?

Quoting JimboFX
I was playing around with LRC and SDC this weekend and I found something very interesting which I believe is going to be helpful when drawing quadrants inside channels.

First let's take LRC and put it on the chart as per the SRDC rules we do (you can use any time frame). Then take SDC and put it on the top of LRC with the same starting and ending point as LRC (tip - use different color for SDC).

Voala, you have a 4 quadrant channel
TRADE FOR SWAP
  • #1,643
  • Dec 27, 2006 3:23am Dec 27, 2006 3:23am
Quoting cgldsmth
"SDC"? Sorry if I missed it but what is this?
SDC Standard Deviation Channel
Go to insert, then to channels, and you will find it.

Thanks to Master OR and all of you

Paco
  • #1,644
  • Dec 27, 2006 4:07am Dec 27, 2006 4:07am
teamspeak is on the backup server tonight
75.110.123.137
password=getpips
use your nickname and leave loginname blank
  • #1,645
  • Dec 27, 2006 4:17am Dec 27, 2006 4:17am
Fellow Padawans and Jedis:

A request coming from the TeamSpeak group:

Looking for the development of an alarm indicator (not an EA) for SRDC1 and SRDC 1+. This indicator would need to follow OR criteria.


We would really appreciate if one of our expert programmers would consider it.

Thank you
All 4 1 and 1 4 All
  • #1,646
  • Dec 27, 2006 9:46am Dec 27, 2006 9:46am
I took this trade today for a cool 55 pips. Short at Q1 at the bounce of the top of the hourly channel and then exited at the median. Perfect set-up per SRDC II.
Attached Image
  • #1,647
  • Dec 27, 2006 12:11pm Dec 27, 2006 12:11pm
So we have stop using SHI? replace with LRC?

Pardon me i just manage to read up till page 40. :
Attached Image
  • #1,648
  • Dec 27, 2006 12:12pm Dec 27, 2006 12:12pm
Quoting JimboFX
I was playing around with LRC and SDC this weekend and I found something very interesting which I believe is going to be helpful when drawing quadrants inside channels.

First let's take LRC and put it on the chart as per the SRDC rules we do (you can use any time frame). Then take SDC and put it on the top of LRC with the same starting and ending point as LRC (tip - use different color for SDC).

Voala, you have a 4 quadrant channel
Maybe I am doing something wrong, but I come up with both channels looking almost the same, maybe 2-3 pips off....no quadrants
Steve
  • #1,649
  • Dec 27, 2006 12:18pm Dec 27, 2006 12:18pm
I entered early on this one two candles after the high right before yours it went down for a bit and then back up and took stopped lossed me out. At that time, my LRC endpoint was at the beggining of the day, which actually showed that candle at the very top of the channel. I entered when the CCI showed a short trigger and set a s/l of 30 pips. Did I do something wrong in this trade? Or was I just unlucky?

I guess I coudl have put my stop loss higher but i felt uncomfortable putting in a 50ish s/l if that is the average pip profit I expected to take anyways.

thanks!

Quoting Army1
I took this trade today for a cool 55 pips. Short at Q1 at the bounce of the top of the hourly channel and then exited at the median. Perfect set-up per SRDC II.
  • #1,650
  • Dec 27, 2006 1:45pm Dec 27, 2006 1:45pm
Quoting Lamdun
I entered early on this one two candles after the high right before yours it went down for a bit and then back up and took stopped lossed me out. At that time, my LRC endpoint was at the beggining of the day, which actually showed that candle at the very top of the channel. I entered when the CCI showed a short trigger and set a s/l of 30 pips. Did I do something wrong in this trade? Or was I just unlucky?

I guess I coudl have put my stop loss higher but i felt uncomfortable putting in a 50ish s/l if that is the average pip profit I expected to take anyways.

thanks!
Lamdun,
I'm not sure where you entered. If it was 2 candles after the high previous to the one I took, then that would put you at Q2 and approaching the median in my channel. Once at the median, the trade can go either direction. In this case, it reversed and went up. In the trade I took, I saw the bounce at around 1.9625. I could have entered then, but I waited for validation of the down move (making sure price wasn't breaking out of the channel) and then I entered. Stop was set at 50 pips and target was the median. Hope this helps.
  • #1,651
  • Dec 27, 2006 1:55pm Dec 27, 2006 1:55pm
Quoting Army1
Lamdun,
I'm not sure where you entered. If it was 2 candles after the high previous to the one I took, then that would put you at Q2 and approaching the median in my channel. Once at the median, the trade can go either direction. In this case, it reversed and went up. In the trade I took, I saw the bounce at around 1.9625. I could have entered then, but I waited for validation of the down move (making sure price wasn't breaking out of the channel) and then I entered. Stop was set at 50 pips and target was the median. Hope this helps.
This is what I'm talking about:

http://img510.imageshack.us/img510/1356/cableww4.jpg


I drew the LRC channel like how the manual said, starting on sunday and dragging the endpoint right up to the spike. At that instance, my entry was still in Q1.
  • #1,652
  • Dec 27, 2006 2:43pm Dec 27, 2006 2:43pm
Quoting Lamdun
This is what I'm talking about:

http://img510.imageshack.us/img510/1356/cableww4.jpg


I drew the LRC channel like how the manual said, starting on sunday and dragging the endpoint right up to the spike. At that instance, my entry was still in Q1.
Lamdun,
My Hour Channel seems a bit wider than yours. Like Cbrock, my channel runs from the 20th when we had the trend change to down. See attached. See how we get as many of the candles and price moves within the channel. See how true the channel is. I personally did not change the channel since the start of the week was "abnormal" due to the holidays with little volume and volatility. I project the channel into the future and see if price follows it or breaks it.
As to your entry, all I can say is that the candle before your entry candle hit the median (or came close to it in your case), bounced and was headed back to the top. I think that I would have waited for it to hit the upperchannel line before entering. In my opinion, you took the trade on the bounce up. This is just my opinion, and I too am learning the nuances of the price movements. I hope this helps. Anybody else with a take on this can chime in too.
Attached Image
  • #1,653
  • Dec 27, 2006 2:51pm Dec 27, 2006 2:51pm
Quoting 4rex
Fellow Padawans and Jedis:

A request coming from the TeamSpeak group:

Looking for the development of an alarm indicator (not an EA) for SRDC1 and SRDC 1+. This indicator would need to follow OR criteria.


We would really appreciate if one of our expert programmers would consider it.

Thank you

I would like to follow up on the request 4rex has made for the indicator. In a recent Teamspeak session it was noted that most of us were sleeping or away from our computers when the price crossed the high or low of the previous day (SRDC I or I+) and we did not want to set a limit order ala SRDC I. Our request is really very simple. We would like an indicator that would tell us when we are nearing a possible break of the high or low but also one that would take into consideration the 15 min chart for SRDC I+. It would be great if Skyline or someone who is already working with this type of code would help us out, but the invitation is for everyone.

Thanks,
Traderbill
  • #1,654
  • Dec 27, 2006 4:51pm Dec 27, 2006 4:51pm
Quoting 4rex
Fellow Padawans and Jedis:

A request coming from the TeamSpeak group:

Looking for the development of an alarm indicator (not an EA) for SRDC1 and SRDC 1+. This indicator would need to follow OR criteria. ..
Maybe this is not the solution, but it is a working solution: I have been using the audio trendline alert/email for many months in my trading model. I also now place them manually according to the SRDC I/I+ rules. When price hits the trendline i've placed my audio alarm goes off and if i'm away from the computer my cell phone gets an email. Sure is easy for me. BUT for some placing a line on a chart manually is not considered an "indicator"...rather it is considered "work". grin.

link to ATM_TLineAudio MT4 indicators...scroll down the list to find them.

: ) Thom
  • #1,655
  • Dec 27, 2006 4:55pm Dec 27, 2006 4:55pm
Quoting accrete
Maybe this is not the solution, but it is a working solution: I have been using the audio trendline alert/email for many months in my trading model. I also now place them manually according to the SRDC I/I+ rules. When price hits the trendline i've placed my audio alarm goes off and if i'm away from the computer my cell phone gets an email. Sure is easy for me. BUT for some placing a line on a chart manually is not considered an "indicator"...rather it is considered "work". grin.

link to ATM_TLineAudio MT4 indicators...scroll down the list to find them.

: ) Thom
I also have been using it for a while now. It rocks!!
Steve
  • #1,656
  • Dec 27, 2006 5:00pm Dec 27, 2006 5:00pm
Thom,
Yes thank you Thom, I use your " indicators" too for the same purpose. They are great.

You have the flexibility too for tweaking as it is in mq4 file format so one can "fiddle". My only problem is that i get multiple alerts which I am not sure yet is due to my " fiddles" or jitter around the line!

best
john
aust
  • #1,657
  • Dec 27, 2006 5:19pm Dec 27, 2006 5:19pm
Quoting jsh01
..thank you Thom, I use your " indicators" too for the same purpose. They are great.

You have the flexibility too for tweaking as it is in mq4 file format so one can "fiddle". My only problem is that i get multiple alerts which I am not sure yet is due to my " fiddles" or jitter around the line!...
Hi John, (and Steve!) thanks for the kudos. One thing you might change is the setting of the AlertPipRange which is set to a default of 2. If you wish you can set it at 0/zero and once the price moves away from the exact trend line there will be no more alerts. The defaul will keep sending out an audio alert/email as long as the price is +/- 2 pips from the trend line you have drawn. Since i like to sometimes sleep with a pillow speaker hooked up to receive my TLineAudio alerts i will set it at +/- 5 or even 10 pips... that way the audio alert is sure to get me out of my slumber! But then if i'm reading here at the FF or a trading book...or watching a movie with my sweetheart i can have the alarm go off once in the room and i'll go to the charts.

: ) Thom
  • #1,658
  • Dec 27, 2006 5:35pm Dec 27, 2006 5:35pm
Steve,

I downloaded them into expert/indicator and the audio into the sounds folder in Mt4.....question.....what else do I need to do?

Thank you and Accrete



Quoting PipSteve
I also have been using it for a while now. It rocks!!
All 4 1 and 1 4 All
  • #1,659
  • Dec 27, 2006 6:09pm Dec 27, 2006 6:09pm
Quoting accrete
Maybe this is not the solution, but it is a working solution: I have been using the audio trendline alert/email for many months in my trading model. I also now place them manually according to the SRDC I/I+ rules. When price hits the trendline i've placed my audio alarm goes off and if i'm away from the computer my cell phone gets an email. Sure is easy for me. BUT for some placing a line on a chart manually is not considered an "indicator"...rather it is considered "work". grin.

link to ATM_TLineAudio MT4 indicators...scroll down the list to find them.

: ) Thom
Thanks Thom,

This is a good solution and it is something we can do today. Although this will work, I am still hoping someone can give us a specific indicator that will also take into consideration SRDC I+.

Great Post,
Traderbill
  • #1,660
  • Dec 27, 2006 6:36pm Dec 27, 2006 6:36pm
Quoting accrete
Hi John, (and Steve!) thanks for the kudos. One thing you might change is the setting of the AlertPipRange which is set to a default of 2. If you wish you can set it at 0/zero and once the price moves away from the exact trend line there will be no more alerts. The defaul will keep sending out an audio alert/email as long as the price is +/- 2 pips from the trend line you have drawn. Since i like to sometimes sleep with a pillow speaker hooked up to receive my TLineAudio alerts i will set it at +/- 5 or even 10 pips... that way the audio alert is sure to get me out of my slumber! But then if i'm reading here at the FF or a trading book...or watching a movie with my sweetheart i can have the alarm go off once in the room and i'll go to the charts.

: ) Thom

I haven't used the indicator yet but rather alerts in MT4 and I find a baby monitor very useful. If and when I'm away from the PC when the alert goes off you can still hear it.

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