Trading using Murray Maths and Price Action

cool...pls continue to visit it...

My problem is moving the SL to BE as it requires manual intervention and remaining glued to the monitor.

Setting lot#1 to TP=20 is easy part, as it allows me to set and forget. But moving SL for lot#2 to BE when my TP=20 is hit for the lot#1 means I need to be present at the monitor when lot#1 hits the TP, and I need to manually enter the trailing stop order when Lot#1 hits TP. What if I am not present at the monitor to place the trailing stop at the right moment and trade goes against me to hit my SL, thus turning a profitable trade into a losing trade. I trying to find a mechanical way to manage this.

Karthik, I’ve added in the bits Shamus asked for… but let me know if they don’t behave exactly as you would like. This indicator that I am posting here has user-variable controls for:

1. P (Leave it at 64 unless you know what you are doing.***)
2. MMPeriod (The number in minutes. Set it to zero to have the MM lines generated according to the timeframe of the chart you have active. Set it to 1440 for D1, 240 for H4, 60 for H1, etc. The MM lines will be the same on all the active chart's timeframes.)
3. StepBack (The number of bars back that the MM calculations start from. For example, set it to 24 to see yesterday's lines on an H1 chart. When you set this to a non-zero number, an arrowhead appears under the bar where the MM calculations end.)
4. text_shift (This allows you to change where the MM line annotations appear on the chart.)
5. verbose (If true, then the more verbose descriptions appear on the MM lines. If false, only the level numbers like [2/8] appear.)
6. ShowMinorLines (Set to true if you want to see the minor lines.)
7. color.frame (Set it to true for your favourite background colours.)
8. ShowTF (Set it to true if you want to see the chart’s timeframe writ large.)
9. TFCorner (2 is bottom left corner, 1 is top right, 0 is top left.)
10. mml_clr_etc (They all let you change the MM line colours)
11. mml_wdth_etc (They let you have thicker/thinner lines.)
12. MarkColor (Colour of the arrow that marks the last calculated bar when you have StepBack turned on.)
13. MarkNumber (217 is the arrow head. Play. Have fun.)

*** If you DO know, please PM me - I would like to know how to use the P variable too.


Perhaps you can delete my previous posts that contain previous versions?


G

thanx Grath .. this info very helpful for me.

Anybody have an explanation here?

You might try one of the order management EA's such as;

Swiss Army EA (I'm sure it's on FF somewhere also)

or

Manage Take Profit EA

I assume that such EA would work only for brokers that provide MT4 as their front end platform. I am with MB Trading, and not sure if their platform would support such EA. Do such EA work for Onada or FXCM, if so I can switch my account there.

I wouldn't know, hopefully someone here at FF could answer that.

Well as you see the market broke the 0/8 resistance earlier going in a uptrend, thus now meaning the 0/8 would act as a support instead of a resistance. In your chart we see that it will either bounce off or go trough. But since that is a 15 minute chart and it has been stalling above the support line for quite some time you would expect it to bounce in an uptrend. Therefor you would go long. Thing is also you can see that it is stalling in about the same pricerange for 45 minutes, I hate when that happends because it is not that clear what the market will really do next.

But I would go for long and then put a stoploss with about 10-15 pips right under the 0/8 Support line.

Let's see what karthik has to say about this, he is the expert.

unable to download, i just get an html message inside the file

Same here. Actually I am geting nothing at all. Can someone please help?

Pahadi

well, price has come down to the 0/8 level which is a very strong support and PA on the 15M chart shows that price is holding that level. We could take a small long here. I suggest a small long cos at that point of time, the trend was bearish. We could add to the longs as the price picks up and starts moving up.

Daily outlook posted in blog.

crazy PA so far...but the bullish underlying trend continues...

Go short E/U at 1.3200

GJ at very important support...

nice bounce from support...i guess that should set the low for the day...

Is it 148.44?

yes but GJ seems to be upto its tricks again...testing support again...

Buy G/U at 1.4986. Bouncing off S