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New Mouteki Method...

  • #521
  • Sep 11, 2008 10:43pm Sep 11, 2008 10:43pm
Quoting itguy
Ok here is v3, you can change line style and all other style option.

The lines won't change if you change timeframes on the same chart. Closing mt4 and reopening though will. I could code it so it would keep it's level when you close and reopen mt4, but A. that's making it more complicated than it needs to be and B. having to reposition it if you close and reopen mt4 isn't a bad thing imo, it forces you to reanalyze your charts.

Now if we wanted to get really freaky, I could add alarms, make each line level type, width and color adjustable, add email alerts etc..... However spending that kind of time and making it that complex seems a bit much for a simple level indicator.

I might mess with adding those features when I have time. For now this version pretty much fits the job.
Hi ITguy,

Man..you are on fire. This is really great. Can you build in an option to set the zero point to stay sationary...which is what I perfer...hate it when my lines move without me doing it and another that they would auto re-locate to new highs and/or lows...like it is now.

Either way..Kudos for the fancy indicator.
  • #522
  • Sep 11, 2008 10:49pm Sep 11, 2008 10:49pm
Quoting moutekitrader
Greeting Forum Friends,

I wanted to step away from the charts and videos for a moment and brief the current mission we are all on at the moment: Financial Freedom Through The Forex Market

For two weeks now, we have been introducing our fibonacci analysis to the factory.

I get the feeling that everyone who is following is eager to move on from the fibonacci analysis and thus, that is why I have decided to do so.

Our next phase in successful trading, is understanding Economic Data.

We use economic data, being fundamental new announcements, to verify directions in the market we believe the fib zones have outlined.

Take the Nzd/Chf analysis we have been talking about lately as a good example. We have been waiting for this currency to drop to the 610 fib sequence level for quite a while, and yesterday once the interest rates got cut in New Zealand we saw the cross take a nice 200 pip drop south.

Confluence of events, being a currency hugging a retracement zone, until a fundamental comes out the way it is needed to continue to the next fib zone. Take a look at the Nzd/Chf and you will see exactly what I mean.

There are hundreds of Fundamentals released a year but we only target a select few a month since we have formulated mathematically the impact a fundamental will have on a currency.

So, in our next section...fundamental analysis, we will be revealing previous fundamentals that moved currencys through fibonacci zones.

Writing is not my natural god given talent, so if you seem a bit lost or confused with my post...trust me, it will all unfold before your eyes shortly...

Remember, that fundamentals is part two of my trading methodology. What we are accomplishing with fibonacci and fundamentals is safe spots in the market for us to trade.

For those who seem a bit worried on enter/exit, stop loss/profit...remember what I said in the begining...Patience is KEY!!!

Remember, with Fibonacci and Fundamentals we map out the market. With the third part, analysis of volume in the market...we will pick apart the treasure map we have created and introduce entry/exit and stop loss/profit placement.

I am in the process of compiling many previous examples of fundamentals and fibs to help better explain this theory to you...I will not be presenting a video tonight as I need more time to complete the first presentation of Fibonacci and Fundamentals...

I have the impretion that many enjoy the videos as a form of learning, but at the same time I feel that people may need change to keep them interested...

If anyone has a idea on how to present this data other than video, please...drop me a pm and let me now whats on your mind...

I hope this post puts everyone on the same page as I prepare to release the new data fibs&fundamentals...if you are just joining please take time and review all of the eleven videos already on my blog...They should help!

With that said, I wish everyone a Happy Trading week and many pips.

Peace,
-M
Mouteki,

Love the video format..I've listened to each one 2 or 3 times now. Since you perfer the video format maybe in a week or 2 some FF member that has a gift for writting could put together a pdf document with his understanding of the method and submit it to you for editing. That would take some of the pressure off you but still provide a written document for those who like to have it in that format. Well...that's just my 2 cents worth.
  • #523
  • Sep 11, 2008 11:13pm Sep 11, 2008 11:13pm
You can find a cool news indicator, ForexTSD_Calendar_v1.5, here.

TimeFreedom

Quoting slide
Oanda has a great tool showing the news impact on charts, I was thinking myself of projecting fibs on those maps, but I guess you're way ahead of me..can't wait for your method

http://fxtradeinfocenter.oanda.com/m...seffects.shtml

video is nice for training but it may be time consuming to make those videos, text would do just fine; it's not the wrapping of the info, but the insight revealed, because... you can't really learn something, unless you know it already
Attached Image (click to enlarge)
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  • #524
  • Sep 11, 2008 11:21pm Sep 11, 2008 11:21pm
Quoting TimeFreedom
Great indicator. If its not too much to ask can you add the Fib Level labels starting with the base, 0, 89, 144, etc...

Thanks in advance,

TimeFreedom
It is already in it. Press F8, in the Tab of "Common", Check "Show objects descriptions", the Fib Level labels will appear on the left.
  • #525
  • Sep 12, 2008 12:00am Sep 12, 2008 12:00am
Nice
  • #526
  • Edited 1:39am Sep 12, 2008 1:36am | Edited 1:39am
Quoting deanz
With that line of thinking then a pair must retrace to a inner fib level in order to be a valid trade !!

I can see harmony in that chart......... I hope it also helped others to see it too.

Dean.
As I understand it, the first step in finding harmony and possible set-ups using Mouteki's methodology is to have a fib retracement to at minimum a 38.2% retrace and at maximum a 61.8% retracement.

I dont see any on the daily oil chart since the ATH back in July.

Thus it follows that there is no fib harmany - please shown me where I'm wrong.....

PS There are of course plenty of other short trade set ups and I closed my last one yesterday in the first spike down towards the 100 level....http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #527
  • Edited 2:33am Sep 12, 2008 2:08am | Edited 2:33am
Hi Guys,

Here is my latest EUR analysis. We,ve started moving up from the 987 level. I've drawn a green fib from the "0" point 1.4907 tot he last swing low. As you can see the 38.2% fib retracement is just below the 610 fib level and to add a cherry on top there is a massive resistance line at 1.4274 (yellow arrow). If we don't retrace to about this level I'll be very surprised.If you want to see the process working in reverse (on the way up)...go to your 1 hr chart and start placing fib retracements on the new peaks on the way up.
Attached Image(s) (click to enlarge)
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  • #528
  • Sep 12, 2008 2:45am Sep 12, 2008 2:45am
Hey Guys..

Look at the uptrend on the 1 hr EUR chart. See all of the harmony on the chart. If this dosen't excite you as a trader I don't know what will.I just can't imagine what else Mouteki has in store for us. I find this simply amazing.
Attached Image (click to enlarge)
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  • #529
  • Sep 12, 2008 3:01am Sep 12, 2008 3:01am
good to see you back.

mason
  • #530
  • Sep 12, 2008 3:19am Sep 12, 2008 3:19am
Quoting ozziedave
Hi Guys,

Here is my latest EUR analysis. We,ve started moving up from the 987 level. I've drawn a green fib from the "0" point 1.4907 tot he last swing low. As you can see the 38.2% fib retracement is just below the 610 fib level and to add a cherry on top there is a massive resistance line at 1.4274 (yellow arrow). If we don't retrace to about this level I'll be very surprised.If you want to see the process working in reverse (on the way up)...go to your 1 hr chart and start placing fib retracements on the new peaks on the way up.
Nice one OD - I hadn't picked up on using 1.4907 as a zero start level...http://www.forexfactory.com/images/icons/icon11.gif

I was watching 1.3840 as 50% of the Nov 05 to July 08 rally and I have time lines due next week. However, that didnt stop me getting long at FO / LO off my short term charts.....http://www.forexfactory.com/images/icons/icon7.gif

Edit: Maybe its the cold front that's approaching the Balearics, but this morning I got out of my Bermudas and put on longs in cable, UJ, GJ and the Dax too
Trading Levels with WRBs
  • #531
  • Sep 12, 2008 3:24am Sep 12, 2008 3:24am
Quoting ozziedave
Hey Guys..

Look at the uptrend on the 1 hr EUR chart. See all of the harmony on the chart. If this dosen't excite you as a trader I don't know what will.I just can't imagine what else Mouteki has in store for us. I find this simply amazing.

what's up ?

If I understand your chart correctly , you took the last low(1.3880) as the 0 fib zone and started mark from there the 144 , 233 , etc. zones?
  • #532
  • Sep 12, 2008 3:41am Sep 12, 2008 3:41am
Quoting ozziedave
Hi Guys,

Here is my latest EUR analysis. We,ve started moving up from the 987 level. I've drawn a green fib from the "0" point 1.4907 tot he last swing low. As you can see the 38.2% fib retracement is just below the 610 fib level and to add a cherry on top there is a massive resistance line at 1.4274 (yellow arrow). If we don't retrace to about this level I'll be very surprised.If you want to see the process working in reverse (on the way up)...go to your 1 hr chart and start placing fib retracements on the new peaks on the way up.
Hey Ozzie Dave

I did this graph this morning and got the very similar results as you. Looks like Euro is headed for the 38% retracement which sits on the 610 Fib Zone at 1.4291(The blue box area)
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 29 KB
Boxing clever since 76.
  • #533
  • Sep 12, 2008 4:07am Sep 12, 2008 4:07am
Quoting Islander
As I understand it, the first step in finding harmony and possible set-ups using Mouteki's methodology is to have a fib retracement to at minimum a 38.2% retrace and at maximum a 61.8% retracement.

Thus it follows that there is no fib harmany - please shown me where I'm wrong.....
Arrrr I see the confusion, in the very first Forex Truth Video Mouteki started with the retracement fib, but in the 7 videos after wards he starts with the fib zones and then checks for respect within these zones. But everyone is free to hack the system to their liking :-) as I know I will be trying weekly pivots for retracements that do not reach the inner fibs as you too know how powerful pivots can be.

Dean.
perception is reality
  • #534
  • Sep 12, 2008 4:35am Sep 12, 2008 4:35am
Quoting Barak's pip
what's up ?

If I understand your chart correctly , you took the last low(1.3880) as the 0 fib zone and started mark from there the 144 , 233 , etc. zones?
Yes, I took the last swing low and just started to plot fib retracemenst and noticed harmony in the up swing. Now what that tells us, since we've taken out the 987 on the down swing is that we may be getting a retrace of the down move back to the 610 fib zone. I'm using the retracements in the up direction to confirm the up move back to the 610. I would imagine since it's a 300 pip gap up that you could trade a long position as price makes corrections to the up move. Otherwise just wait until price action gets back tot he 610 level and see if it starts to swing back down in which case it may go to the 1597 fib zone on the next down leg.
  • #535
  • Edited 5:58am Sep 12, 2008 5:08am | Edited 5:58am
Quoting deanz
Arrrr I see the confusion, in the very first Forex Truth Video Mouteki started with the retracement fib, but in the 7 videos after wards he starts with the fib zones and then checks for respect within these zones. But everyone is free to hack the system to their liking :-) as I know I will be trying weekly pivots for retracements that do not reach the inner fibs as you too know how powerful pivots can be.

Dean.
Hey Dean,

You can have fib harmony on several fib retraces and then run into one say, swing high that when it retraces doesn't move back to at least the 38.2 retrace fib. It doesn't negate the harmony at that point..you just need to wait for the next swing high and retrace to see if there still is harmony. The one thing that I've found is when you get to the bigger numbers 987 and 1597 the harmony from the zero point is much less. Then I rely more on the fib zones and fib expansion targets.
  • #536
  • Sep 12, 2008 5:59am Sep 12, 2008 5:59am
Quoting ozziedave
The one thing that I've found is when you get to the bigger numbers 987 and 1597 the harmony from the zero point is much less.
So you find the fib zones lose their harmony at the bigger numbers, but then you went on to say......

Quoting ozziedave
Then I rely more on the fib zones and fib expansion tagets.

Confused !! ....... have you been talking with Islander........... ha ha... just teasing.

Dean.
perception is reality
  • #537
  • Sep 12, 2008 6:19am Sep 12, 2008 6:19am
Quoting deanz
Arrrr I see the confusion, in the very first Forex Truth Video Mouteki started with the retracement fib, but in the 7 videos after wards he starts with the fib zones and then checks for respect within these zones. But everyone is free to hack the system to their liking :-) as I know I will be trying weekly pivots for retracements that do not reach the inner fibs as you too know how powerful pivots can be.

Dean.
LOL - yes I was trying on my New Mouteki Hat for size and attempting not to be influenced by my own current methodology - mainly pivots and sweet spots on shorter TFs. However, I guess that I haven't dropped down to the 4 hour as - OD just did on his euro chart - to see if there is a zero line set up.....

We'll just have to wait for the final revelations on fundementals and volume to see how it all fits together.....http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #538
  • Edited 7:08am Sep 12, 2008 6:20am | Edited 7:08am
Quoting deanz
So you find the fib zones lose their harmony at the bigger numbers, but then you went on to say......




Confused !! ....... have you been talking with Islander........... ha ha... just teasing.

Dean.
Sorry Dean..sometimes the fib retracements lose some of their harmony when pulled from the zero level into the bigger fib zones; ie: 987 ect. If you move the retracement up to another point it sometimes picks up harmony again. The important part is that you have retracements that hit the fib levels 38, 50 or 61 early on... and that they continue up to the 377 level which helps to identify that you actually have harmony in the move. Clearly you can see that harmony is present in the newly developed up trend. You can't see it but the 100% fib expansion of the green fib is 20 pips away from the 610 fib level. What I did was turn the fibs to the upside on the EUR to track the up swing back to the 610 level since we've hit the 987 on the down swing. IMO this helps me determine that we have actually stopped the down sid move and we're in the process of moving back up to the 610 level. These larger fib zones are 300-500 pips so you may be waiting for a while ifor the pullback to complete before you can trade with the major trend again. I believe, based on what Mouteki has said, that he waits for the large retracements to occur before he jumps back into a trade. If this is confusing you just ignore my posts, my intent was to show how you can use the same mapping to identify when the up trend starts so you don't lose money trying to tarde short. It was certainly not to confuse people here.

I'll show ya what I just did a few minutes ago. The Eur is heading up. It's hit the 233 Fib zone on the up swing. I pulled a fib retracement to the top of the swing when I thought it was peaking out (green fib) also at the 233 fib zone. Price starts to turn and go lower. The first retracement level is the 38.2 @ 1.4033. I placed a sell order at 1.4085 and a take profit order at 1.4045 just above the 38.2 retrace level. I know that at this point, (well 90% sure) that price needs to retrace before it can go higher. Bingo...40 pip trade in a matter of 30 minutes. So do you see the value in knowing that price is going back to the 610 level???
Attached Image (click to enlarge)
Click to Enlarge Name: eur analysis t39.gif Size: 34 KB
  • #539
  • Sep 12, 2008 7:01am Sep 12, 2008 7:01am
Quoting itguy
Ok here is v3, you can change line style and all other style option.

The lines won't change if you change timeframes on the same chart. Closing mt4 and reopening though will. I could code it so it would keep it's level when you close and reopen mt4, but A. that's making it more complicated than it needs to be and B. having to reposition it if you close and reopen mt4 isn't a bad thing imo, it forces you to reanalyze your charts.

Now if we wanted to get really freaky, I could add alarms, make each line level type, width and color adjustable, add email alerts etc..... However spending that kind of time and making it that complex seems a bit much for a simple level indicator.

I might mess with adding those features when I have time. For now this version pretty much fits the job.
hi ITGUY

tanks for your good indicator. I use that, but I think has a little problem.
becuse of it detect automaticly the start point ( zero zone ), after each restart the platform MT4 , fibo levels starts from other point of we set befortime.
to solve this problem you have 2 choise :

1-turn off the auto detecting the zero zone.
or
2-set a boolean var to set off or on the auto detecting.

and a little one other , why we couldn't use two of this indicator in a chart ?

thanks
  • #540
  • Edited 7:23am Sep 12, 2008 7:10am | Edited 7:23am
Quoting ozziedave
I'll show ya what I just did a few minutes ago. The Eur is heading up. It's hit the 233 Fib zone on the up swing. I pulled a fib retracement to the top of the swing when I thought it was peaking out (green fib) also at the 233 fib zone. Price starts to turn and go lower. The first retracement level is the 38.2 @ 1.4033. I placed a sell order at 1.4085 and a take profit order at 1.4045 just above the 38.2 retrace level. I know that at this point, (well 90% sure) that price needs to retrace before it can go higher. Bingo...40 pip trade in a matter of 30 minutes. So do you see the value in knowing that price is going back to the 610 level???
When I saw your 1 hour graph I went and mapped it out and I took virtually the same trade as yours above (demo though)
Lets see if the big news annoucements can push it to the 377 zone. This is also the just about the same point as 100% extention of the last move.
Boxing clever since 76.
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