PowerSwing System For Long term trading

When the value is changed from .33 to 0 the green and red bars disappear. Can you see if you have the same issue?

b@by, here is the first chart I put up in post #3 that show what an entry should look like. Not all entries will be this obvious so you must use your own judgment to decide whether the entry is valid.

I've added the SolarWind-ACS2 to a chart and leaving it at option 1 provides very late signals, but if you change the parameters to period 10, smoothing .3, and use option 2 it seems we get a little more of an early entry and early exit. The only thing is it might cause you to do is exit a trade earlier than you'd want to but we'll have to leave that up to your individual preference.

Hi mer,

When you use any Option other than 1, you will get a repainted (back-calculated) values for the SolarWind-ACS (1 or 2). You will not get these values in realtime (on any TimeFrame). So, do not use that re-painting versions/option on old data. They will look almost 100% perfect. That is the problem with repainting programs. To test on old data, you have to use Option=1 or Smooth=0. Otherwise, it is not useful at all.

Regards,
chandra

Like lcfxtrader posted above, the problem is when you put the smoothing to "0" the bars disappear. When I changed it to "0" it happened on my chart as well.

so you still your original signal?or the signal with the new indicator?

hope you dont mind answer it?

Yes the first pic is a valid entry, the second pic the solar wind must turn red AND break out past the -.3 level.

With regards to the indicators, you can use whatever one you choose to use that you feel comfortable. Despite all the warnings from chandra with regards to the repainting, I think using option 1 provides the signal confirmations way too late for my preferences, so I will be using the SolarWind ACS2 with a 10 period, .3 smoothing, and option 2.

Mer,

The trend on the second example is up, would you still go short if the solar went under the clear zone?

If you did I would be very cautious and use smaller lot sizes as 1) you are going against the ZigZag indicator (indicating longs only), 2) you will be approaching an extremely oversold 0/8 Murrey level, and 3) you have support showing at the 23.6 fib level. Personally would not take the short, too risky for me.

What we really should look at is the fibs. As we can see we have retraced off the 38.2 fib and should definitely wait to see if another long trade presents itself. If it does, you can see we have a confluence of the fib extensions and Murrey levels at 38.2 E, 100 E, and 161.8 E. If we go long again one of those should be your targets.

Hi lcfxtrader and mer,

I fixed the Smooth=0 problem now and modified my last post and attachment. Please download again and check it (from post # 56: http://www.forexfactory.com/showpost...4&postcount=56 ).

Regards,
chandra

b@by, I really think you need to understand how Murrey levels work to help you to understand how price will react to them and how they will help you with understanding why or why not you should enter at trade on the second chart. I hope this helps you out.




Characteristics of Murrey Levels

1. 8/8 th's and 0/8 th's Lines (Ultimate Resistance)
   These lines are the hardest to penetrate on the way up, and give the greatest support on the way down. (Prices may never make it thru these lines).
2. 7/8 th's Line (Weak, Stall and Reverse)
   This line is weak. If prices run up too far too fast, and if they stall at this line they will reverse down fast. If prices do not stall at this line they will move up to the 8/8 th's line.
3. 6/8 th's and 2/8 th's Lines (Pivot, Reverse)
   These two lines are second only to the 4/8 th's line in their ability to force prices to reverse. This is true whether prices are moving up or down.
4. 5/8 th's Line (Top of Trading Range)
   The prices of all entities will spend 40% of the time moving between the 5/8 th's and 3/8 th's lines. If prices move above the 5/8 th's line and stay above it for 10 to 12 days, the entity is said to be selling at a premium to what one wants to pay for it and prices will tend to stay above this line in the "premium area". If, however, prices fall below the 5/8 th's line then they will tend to fall further looking for support at a lower level.
5. 4/8 th's Line (Major Support/Resistance)
   This line provides the greatest amount of support and resistance. This line has the greatest support when prices are above it and the greatest resistance when prices are below it. This price level is the best level to sell and buy against.
6. 3/8 th's Line (Bottom of Trading Range)
   If prices are below this line and moving upwards, this line is difficult to penetrate. If prices penetrate above this line and stay above this line for 10 to 12 days then prices will stay above this line and spend 40% of the time moving between this line and the 5/8 th's line.
7. 1/8 th Line (Weak, Stall and Reverse)
   This line is weak. If prices run down too far too fast, and if they stall at this line they will reverse up fast. If prices do not stall at this line they will move down to the 0/8 th's line.

1. The Overshoot and Extreme Overshoot levels of +1/8, +2/8, -1/8, and -2/8 are pretty self explanatory. Reaching these levels means we are either extremely overbought or oversold and are great times to enter the market.

1. The 0/8, 4/8, and 8/8 MML's are essentially equal to each other in the sense that they have the most influence over price support and resistance. The 0/8, 4/8, and 8/8 MML's are followed by the 2/8 and the 6/8 MML's, which are in turn followed by the 3/8 and 5/8 MML's. Finally, the 1/8 and the 7/8 MML's have the least influence over price support and resistance.

chandra, thanks for the fix, we'll have to test her out.

Hi, there,
nice strategy, thank's

Mer,

How often do the values of the Murrey Levels change? Are the calculated daily? Thanks, Lcfx

To be honest, I'm really not sure the exact recalculation time but I will try and find out.

Hey Chandra.....Okay...I have a question. I hve taken your updated "Solar Winds" indicator and placed these settings on it.

Period=10
Smooth=.67
Option=0

Based on these settings I am understanding from your posts that this will NOT repaint now. Have I understood this correctly?

Thanks in advance

Hi damon,

Your settings will make it a repainter.
Any Option other than 1 will make it a repainter! But if the Smooth is set at zero, the Option does not matter and it cannot repaint. So, if you want to use it as a non-repainter, the best way is to keep the Option=1 and to reduce the delay in crossovers, you can reduce the value for Smooth. Bring it as close to zero as possible where the delay/noise is at an optimum (bigger value = more delay, smaller value = more noise).

Regards,
chandra

Well, here is my opinion, with both options 1 & 2 on the chart with the same settings the option 1 (non-repainting one) is way too late resulting in almost no profit. If trading with option 1 and changing the smoothing to "0" makes it even more erratic to make a decent judgment call regarding when to enter. I do feel changing the period from 21 back to 10 will give us earlier entries and quicker exits but the possibility will be that we may exit a trade earlier than we might want. But that's Ok because I'm not a greedy person, I take what the market gives me. the repainting issue will not be that big of a problem for me as I refresh my charts twice daily and again before I make a decision on entering a trade.

Chandra did send me some more info regarding another indicator that might make this system a little better. So I will be holding off a couple of days before I analyze all the pairs to test it out a little a possibly make some changes, so everyone please be patient, thanks.

After looking at a few other indicators and playing around with some input parameters, this is what I'm going to use as my template. I've added Chandra's IFT-RSI-ACS indicator to the 1st window along with the stoch and Laguerre plus changed a few settings around on the others. I'm also going to use the SolarWind-ACS3 with option 2, and I'm sure Chandra will chastise me a little for doing so, because the entry confirmation looks to be very late and with the option 1 setting (where the indicator doesn't repaint) it's too erratic even with the smoothing to "0". I will also cut down from 22 to 20 pairs just to make it even and will analyze all the pairs with the new setup over the next couple of days and get the posted along with the account info.

For those wanting the new settings, I made the changes for you in post #1 along with putting all the indicators in a zip file. Now the zip file will contain two versions of the ZigZag pointer and the MTP EA so you can use either one you choose. Here is a pic of the new setup and the new daily and weekly templates.

Hi Mer,

To me, obviously Option 2 makes a more perfect guidelines for entry and exit.
Can i know is option 2 your original indicators or option 1?
So that i can place the correct solar wind , following your chart.