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MTF Trix system

  • #1,161
  • Aug 20, 2009 11:54pm Aug 20, 2009 11:54pm
I decided to try the system in somewhat different way than I usually trade. I opened a H4 trade late at night at the moment when there was no volatility at all. But there were correct arrows in correct place at all three TF.
Just in case, I played with a smaller lot than usual and set a relatively tight SL- 30 (should probably by bigger for longer term trades with GU). In the morning my TP at 50 pips had been hit
What I think is that the higher the timeframe you take the trade from, the less it is important to have high volatility at the moment when you enter. Sounds logical to me.
Attached Image
  • #1,162
  • Aug 20, 2009 11:58pm Aug 20, 2009 11:58pm
Quoting Tazca
would you say this was a valid signal or no? i would have taken it more then likly with out the MTF from the bounce off monthly pivot but by MTF would i have been correct to sell there ?
Yes, and the chart shows that result would be good. "Correct trade" = winning trade
  • #1,163
  • Aug 21, 2009 1:04am Aug 21, 2009 1:04am
Well, despite my fatigue level, I did take a few hours to review the last half of the thread. Very impressive. Can't wait to give this a try.

One of my goals is to get this method running on my Tradestation platform. So for me, I need to take a step back and study the actual indicators themselves. Indicator XXXXX with settings of 1 2 3 4 means a lot when you can just pull the indicator onto a chart and change the settings. But when you have to reconstruct the actual indicator you have to know what the 1 2 3 4 actually mean.

So I will have some work to do over the weekend. But I am looking forward to it!

Glen - your MTF method is elegant. Simple and (apparently) effective. And your explanations are easy to understand. Thanks.

I am looking forward to a bit more detail on how you set your TP levels, but for now I have enough other things on my plate to worry about!

Doc
  • #1,164
  • Aug 21, 2009 1:14am Aug 21, 2009 1:14am
Indrek - thanks for your post 1158 - I understand now.
  • #1,165
  • Aug 21, 2009 1:17am Aug 21, 2009 1:17am
Quoting DocPMD
Well, despite my fatigue level, I did take a few hours to review the last half of the thread....
Doc,

It works for me, I like something that is simple and effective(and consistent)

We have had a good mix of smooth PA, a bit of chop, some fundamentals to mess up the markets and just some normal trading activity.
I have not tallied the results for the week but it has been a good one thanks to the bonus day on Monday.

I should have time before trading starts on Monday to post some guidelines on TP and SL levels.
" Never let the past hold the future to ransom "
  • #1,166
  • Aug 21, 2009 3:00am Aug 21, 2009 3:00am
Glen, sorry if this has already been covered, or if it is in the manual to be released, but when we draw the line across which the PA has to move before we enter, do you count the wick in that, or just the candle body.

Making a killing tonight so far...

Thanks a million... actually, at this rate, a few million...

Highest regards...

Russ
How do you make a small fortune in Forex? Start with a large one!
  • #1,167
  • Aug 21, 2009 3:09am Aug 21, 2009 3:09am
Quoting paidperpip
Glen, sorry if this has already been covered, or if it is in the manual to be released, but when we draw the line across which the PA has to move before we enter, do you count the wick in that, or just the candle body.

Making a killing tonight so far...

Thanks a million... actually, at this rate, a few million...

Highest regards...

Russ
Hi Russ,

It must be the high/low so you have to count the wick in.

Good Luck!
" Never let the past hold the future to ransom "
  • #1,168
  • Edited 4:41am Aug 21, 2009 4:37am | Edited 4:41am
I would like to make a contribution to this excellent thread. I wanted to see the status of other time frames on the 5 min chart, and came up with the attached indicator. I have it set to show 4 lines in the indicator window. The top line is the 15 min time frame. Next line is 30, then 60, then 240. Completed upper time frames are shown as squares. The current upper time frame being formed is shown as arrows on the hard right edge (this is to remind you that they may change before the upper time frame bar completes). The hard right edge will always have arrows showing.

Because of the buffer limitation in MT4, installation is slightly different to normal. Install the indicator as usual and the first line will appear. Initial setting as default are TimeFrame1 = 15, Line_ht = 80. Then drag the indicator three more times into the same indicator window with the following settings.
TimeFrame1 = 30, line_ht = 55, then 60 and 30, then 240 and 5.

The indicator "reads" the initial Swingman indicator for its values, and I have attached this also, although many will already have this in their indicator folders. So, sm SuperTrix_v1.ex4 needs to be present in your indicators folder.

The attached chart shows the indicator working, with the main window showing smPainted candles for the 5 min time frame, and the lower window showing 15, 30, 60 and 240 min status..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 0908211025 meter roy 04.jpg Size: 86 KB
Click to Enlarge Name: 0908211026 magnified area.jpg Size: 37 KB
Attached File(s)
File Type: ex4 Trix MTF meter roy 04.ex4   4 KB | 2,234 downloads
File Type: ex4 smSuper TRIX_v1.ex4   11 KB | 1,794 downloads
  • #1,169
  • Aug 21, 2009 5:04am Aug 21, 2009 5:04am
Royston - I remember the indicator you made for Vantage, and this one looks just as good. Well done thank you.
  • #1,170
  • Aug 21, 2009 5:09am Aug 21, 2009 5:09am
Quoting Royston
I would like to make a contribution to this excellent thread....
Royston,

You have no idea how handy this indicator will be when we step up a gear in a week or two!
I have fiddled around a while ago with MTF Trix and had to settle for a second best choice.

Thank you, it is really appreciated
" Never let the past hold the future to ransom "
  • #1,171
  • Aug 21, 2009 5:22am Aug 21, 2009 5:22am
Royston:
If I wanted to add a 5m meter, what would the settings be?

Thanks for this wonderful thread addition.......awesome.

Steve
  • #1,172
  • Aug 21, 2009 5:24am Aug 21, 2009 5:24am
Just picked up 35 net pips on G/U with Glen's basic strategy using just ScalperSignals - M60, M15 and M5 all long. Entry 1.6508
and final exit at 1.6548. Thanks Glen.
  • #1,173
  • Edited 7:01am Aug 21, 2009 5:32am | Edited 7:01am
Quoting orientos
Just picked up 35 net pips on G/U with Glen's basic strategy using just ScalperSignals - M60, M15 and M5 all long. Entry 1.6508
and final exit at 1.6548. Thanks Glen.
Yup, 3 different entry opportunities on GBPUSD today, you picked a good one but they all paid.

Glad that it is working for you

Edit: I had a few issues with ISP earlier and my charts had a few gaps...you picked the only valid setup..spot on!
" Never let the past hold the future to ransom "
  • #1,174
  • Aug 21, 2009 5:32am Aug 21, 2009 5:32am
Quoting stevewide
Royston:
If I wanted to add a 5m meter, what would the settings be?

Thanks for this wonderful thread addition.......awesome.

Steve
The window is from 0 to 100 in height. If you make the window bigger , you could add another line, by adding another instance of the indicator. The heights currently set for 4 lines are 80, 55, 30, 5. It should be quite flexible, just try out different numbers to see what you like.
  • #1,175
  • Aug 21, 2009 5:34am Aug 21, 2009 5:34am
I see the method now; thanks Royston.

Steve
  • #1,176
  • Aug 21, 2009 5:57am Aug 21, 2009 5:57am
[quote=Royston;2974533]I would like to make a contribution to this excellent thread.

Hello Royston,

Thank you very much for this indicator. (I also added 5 min to it).

Regards,
Caz
  • #1,177
  • Aug 21, 2009 6:36am Aug 21, 2009 6:36am
Quoting Royston
I would like to make a contribution to this excellent thread....
WOW!!!!
I cannot say anything else than - WOWWWW
Have been away from home for most of the day and now find sth so wonderful here!
Thank you!
  • #1,178
  • Edited 6:56am Aug 21, 2009 6:40am | Edited 6:56am
Quoting Gleneagles
Royston,

You have no idea how handy this indicator will be when we step up a gear in a week or two!
I have fiddled around a while ago with MTF Trix and had to settle for a second best choice.

Thank you, it is really appreciated
Glen, have you done any research (probably you have ) about how much is the MA needed in our system. Right now, the arrows on our charts include both Trix and MA. If we quit using MA and use only Trix, how different could the results be?
Visually I would say that the signals of Trix and MA mostly match, and if there is a higher TF confirmation (sometimes even double or triple one) then - would it be dangerous to trade only with this indy that Royston has made for us?
  • #1,179
  • Edited 7:16am Aug 21, 2009 6:56am | Edited 7:16am
Quoting Royston
I would like to make a contribution to this excellent thread. I wanted to see the status of other time frames on the 5 min chart, and came up with the attached indicator.......
Hi Royston,
Very nice indicator! Many thanks!!
Just a question: I hope you can make it also showing M1 and M5.

Thanks again!

Edit: I couldn't open 6 indicators in the same window, starting with Ln_t 130.
Maybe I am doing wrong?

edit2: really very good indicator!! now I have all 6 lines in one window, by stepping 15 instead of 25.
Royston, just a question; is it possible......to have a bit higher bars? ...........to have some more space high?
Trading S/R with PA only. No indicators anymore!
  • #1,180
  • Aug 21, 2009 7:00am Aug 21, 2009 7:00am
Quoting Royston
The window is from 0 to 100 in height. If you make the window bigger , you could add another line, by adding another instance of the indicator. The heights currently set for 4 lines are 80, 55, 30, 5. It should be quite flexible, just try out different numbers to see what you like.
Hey Royston,man where do you come from!,this is a wonderful indi..thanks alot. .
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