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MTF Trix system

  • #1,281
  • Aug 22, 2009 4:32pm Aug 22, 2009 4:32pm
Quoting yass
Hello!
can anyone explaine who can i got these lines on my window i have only one when attach the indicator.
thanks
Yass, open up the Navigator window (View > Navigator). Scroll to where the indicator that you just put onto the chart is. Drag and drop the indi into the SAME window that you put the first one in, not the main window.

The dialog will appear. The first setting you have to change is TimeFrame1. Then you will have to change the value in the Line_ht box. This is the setting for the distance between the indis in the window.

Repeat for as many as you want to put in.

In my case, I have the following TimeFrame1 and Line_ht settings:

5, 90
15, 70
30, 50
60, 30
240, 10

By the looks of the hints dropped by Glen, I may need daily, weekly and monthly on there as well...

If you need to add more indis, try adjusting the Line_ht values until they fit nicely.

Please note, that this indi has been configured for the M5 chart. If you are on any higher time frame, the lower values will not be correct.

Hope this helps...
How do you make a small fortune in Forex? Start with a large one!
  • #1,282
  • Aug 22, 2009 4:51pm Aug 22, 2009 4:51pm
Quoting paidperpip
Yass, open up the Navigator window (View >

Hope this helps...
Thanks a lot paidperpip, it helps great
  • #1,283
  • Aug 22, 2009 7:14pm Aug 22, 2009 7:14pm
Cant wait to start trading the 60m 15m 5m method this week and finally make some pips properly.

Glen: I had a question, do you open your trade soon as the high/low on the m5 is broken by 1pip, or do you wait for that current candle to close, and then open your trade?

Indrek: If you dont mind me asking what are you using for the ADR and ATR levels? What timeframes do you have to look at this info on if your following the 60m 15m 5m method?

Thanks once again to both Glen and Indrek for your wonderful contributions, forex doesn't have to be complicated. Im really grateful for what you've given us here.

Thanks
  • #1,284
  • Aug 22, 2009 8:41pm Aug 22, 2009 8:41pm
With all due respect to Edgetrader....

Firstly, he banned Indrek from the C4 thread....

Secondly, He intrudes into Indrek's thread.... where is the mutual respect and courtesy.?

Thirdly, it is from Edgetrader's prespective that this(MTF TRIX strategy) is more aggressive trading strategy, this is only an assumption/opinion on his side only.

Fourthly, it sounds as though, Edgetrader is unable to undertake the continued responsibility of supporting the traders who want to trade C4 in its pure form as mentioned in Post#1 of the thread.... so wants to pass his responsibility to other threads....

Fifth, it is not professional to use Frankenpips thread quotes on this thread...

Sixth, As Indrek mentioned... the use of TRIX has its origins way before C4... even though there is an overlap of the use of indicators.. but the C4 and MTF trix are totally different strategies....TRIX and MA have been used for a very long time in Trading... long before Forex became available to RETAIL traders...

Seventh, Surely....a PM to Indrek would be more appropriate for the business stated in Edgetrader's intrusive post...

Eight.... Traders on FF are all adults and free to search all threads and read and contribute to their best interest... For Edgetrader to want to add this thread as referal to his new thread..... is great....but what is the real reason/motive from Edgetrader's prespective....
Existing C4 Trader's interest? ...he can support them on the C4 thread....
OR Trying to pass on his responsibility to another moderator??

Let us move on.....
Many of us...including myself have learnt many a good point point from Edgetrader... but we all settle to a strategy which we will feel comfortable with... personal lifestyle based.

We are all free to add or substact any good/bad points from any strategy and augment it to our own...

All stratergies are guidelines....from another trader. Some follow it 100% some to lesser degrees... To be rude and bann traders with new suggestions/ideas is not professional....FF offer a PM service to sort out differences.... OPEN FORUM is not for this childish behaviour.
  • #1,285
  • Aug 22, 2009 9:03pm Aug 22, 2009 9:03pm
Quoting Indrek
I am looking for a way to get rid of DX Info panel as there is only one component in it that I use - two values of ATR.
Would be grateful if somebody coded a dashboard with just market price and two ATRs.
The problem is that I absolutely do not want ATR lines to my chart. But those indicators that show only the ATR number can be used only one at a time...
Hi, I was lurking around and learned a lot from this thread. Thanks a lot guys!
I found my indies may be useful, at least I like them.
"Price_Spread_CandleTime" shows the price, spread and the remaining time of the latest candle to close.
"xADR" shows the ATR of the chart that it is attached to and it also shows the ADR and remaining room to the top and bottom compaired to the ADR. This indy has an option to exclude the Sunday candle out of the calculation of ADR. Red color means not to trade. This indy was just composed last night and is not thoroughly tested yet, so if it has any problem please let me know.
Attached File(s)
File Type: mq4 Price_Spread_CandleTime.mq4   5 KB | 670 downloads
File Type: mq4 xADR.mq4   4 KB | 629 downloads
  • #1,286
  • Aug 22, 2009 11:54pm Aug 22, 2009 11:54pm
Quoting WilteredFire

Indrek: If you dont mind me asking what are you using for the ADR and ATR levels? What timeframes do you have to look at this info on if your following the 60m 15m 5m method?
Sorry, I do not understand your question. You can use ATR of any TF. What you use depends on the purpose. When estimating volatility then you can do it with ATR of M5 chart. When setting SL or TP you can use ATR of any chart depending on how big is the target, your risk level etc.
ADR means "average daily range", so that's what it is.
  • #1,287
  • Edited 1:12am Aug 23, 2009 12:45am | Edited 1:12am
Quoting xecret
Hi, I was lurking around and learned a lot from this thread. Thanks a lot guys!
I found my indies may be useful, at least I like them.
"Price_Spread_CandleTime" shows the price, spread and the remaining time of the latest candle to close.
"xADR" shows the ATR of the chart that it is attached to and it also shows the ADR and remaining room to the top and bottom compaired to the ADR. This indy has an option to exclude the Sunday candle out of the calculation of ADR. Red color means not to trade. This indy was just composed last night and is not...
Thank you very much for your contribution!
xADR seems to be a bingo at least for me as it replaces in a very delicate manner (without wasting my chart space) two indicators - DX Info panel and Average_Daily_Range.
But please, explain what does Room limit ratio mean?
I cannot say much about the other indicator as I do not want spread and candle time to my chart... I think this kind of data is more needed when scalping very many pairs at the same time but I might be wrong about it.
Very nice job!

P.S. I attach a sample to show what happens when there are bigger numbers in the row. Can you fix it? To give more horizontal space for the indy? And would it be possible to add the setting for replacing the indy to the bottom of the chart and for moving it also on x axis?
Attached Image (click to enlarge)
Click to Enlarge Name: xadr.gif Size: 56 KB
  • #1,288
  • Aug 23, 2009 2:32am Aug 23, 2009 2:32am
Quoting sony
Glen, should i put that scalper signal MA on 6 too?

Or it is something more risky?

Regards

As far as I can see the signals are the same if I use a setting of 6. The settings refer to MA period, not the Trix period of 3.
" Never let the past hold the future to ransom "
  • #1,289
  • Aug 23, 2009 2:33am Aug 23, 2009 2:33am
[quote=WilteredFire;2980080]Cant wait to start trading the 60m 15m 5m method this week and finally make some pips properly.

Glen: I had a question, do you open your trade soon as the high/low on the m5 is broken by 1pip, or do you wait for that current candle to close, and then open your trade?

I normally enter 1 pip above/below high/low.
" Never let the past hold the future to ransom "
  • #1,290
  • Aug 23, 2009 2:40am Aug 23, 2009 2:40am
Quoting Indrek
Thank you very much for your contribution!
xADR seems to be a bingo at least for me as it replaces in a very delicate manner (without wasting my chart space) two indicators - DX Info panel and Average_Daily_Range.
But please, explain what does Room limit ratio mean?
I cannot say much about the other indicator as I do not want spread and candle time to my chart... I think this kind of data is more needed when scalping very many pairs at the same time but I might be wrong about it.
Very nice job!

P.S. I attach a sample to show what...
RoomLimtRatio=0.2 means if the room left is less 0.2*ADR, it will be displayed in red color. It's just a threshold to set the room color, not related to calculation.
If you don't like the spread and candle time, you may turn them off in the options, or you may use some other indicator.
I modified the xADR according to your demand, it has more place for the ATR to display and has the option to display on the bottom of the chart.
Cheers.
xecret.
Attached File(s)
File Type: mq4 xADR_0.1.mq4   4 KB | 606 downloads
  • #1,291
  • Aug 23, 2009 2:58am Aug 23, 2009 2:58am
Quoting xecret
RoomLimtRatio=0.2 means if the room left is less 0.2*ADR, it will be displayed in red color. It's just a threshold to set the room color, not related to calculation.
If you don't like the spread and candle time, you may turn them off in the options, or you may use some other indicator.
I modified the xADR according to your demand, it has more place for the ATR to display and has the option to display on the bottom of the chart.
Cheers.
xecret.
Thank you very much!!!
I think that soon somebody will ask you if you can make its font size bigger or even adjustable
  • #1,292
  • Aug 23, 2009 3:07am Aug 23, 2009 3:07am
Quoting xecret
Hi, I was lurking around and learned a lot from this thread. Thanks a lot guys!
I found my indies may be useful, at least I like them.
"Price_Spread_CandleTime" shows the price, spread and the remaining time of the latest candle to close.
"xADR" shows the ATR of the chart that it is attached to and it also shows the ADR and remaining room to the top and bottom compaired to the ADR. This indy has an option to exclude the Sunday candle out of the calculation of ADR. Red color means not to trade. This indy was just composed last night and is not...
thanks for these indicators.
I have price displayed but not spread or candle time. Both are set to TRUE.

Does the market have to be open for these values to show..? or something else?

Thanks
  • #1,293
  • Aug 23, 2009 3:09am Aug 23, 2009 3:09am
Quoting lrathi
thanks for these indicators.
I have price displayed but not spread or candle time. Both are set to TRUE.

Does the market have to be open for these values to show..? or something else?

Thanks
They are shown in a tiny font size in left upper corner...
I would use the indicator only for seeing market price as I know the spread and time without it but then it should be adjustable both on x and y axis.
  • #1,294
  • Aug 23, 2009 3:14am Aug 23, 2009 3:14am
Quoting lrathi
thanks for these indicators.
I have price displayed but not spread or candle time. Both are set to TRUE.

Does the market have to be open for these values to show..? or something else?

Thanks
They should be displayed as the arrows point to.
Attached Image
  • #1,295
  • Aug 23, 2009 3:37am Aug 23, 2009 3:37am
Quoting xecret
They should be displayed as the arrows point to.

Thanks

My text was set at black and with black background.... I did not see it.

All well.
  • #1,296
  • Edited 4:03pm Aug 23, 2009 12:22pm | Edited 4:03pm
I noticed that there is a crook hunt going on in FF again (referring to what has been written in http://www.forexfactory.com/showthre...86533&page=121 lately).
I have also been discussing the matter with some people and have a personal opinion supported by my professional experience in the fields related to security and justice. And as market is closed anyway, I hereby use the opportunity to say some things here publicly.
1. I have been asked lately if it is really possible that there are so many crooks in FF (lately TG/CB was exposed, now people are looking for the reincarnation of Keith aka Expat).
My answer is - YES, FF is a perfect place for crooks. And it is quite enough to name only two reasons for that: a) this place is anonymous; b) people are playing with (huge) money here.
2. How to recognize a crook? Well, it is always quite difficult and time spending. A really professional crook can be so convincing that after spending some time with him/her some people are ready to believe anything said by him/her, no matter how absurd it would seem under usual circumstances.
A professional crook preparing for a major take can also be very patient. He/she may, for example, run a thread for a longer period pretending to be an altruistic person who has just come here to help everybody (that is how Expat started).
3. There still are some points that I would like to point out for people who can retain objective and clear mind, and to notice signs of possible cheat.
a) Crooks often use the same initials or somehow logically connected nicknames through different "projects".
b) Very often there is not one person but a group. Usual combination for FF could be the leader ("brain") pretending to be a professional and extremely successful trader, plus at least 2 more people. Possibly one with coding abilities and another just for supporting everything the group leader says and protecting him from any sceptically thinking "enemies".
c) Even if advancing very carefully, a crook at some moment provides something very absurd to promote his/her ideas. Here in FF it most often is an unrealistic list of „trading results“. The explanation of doing this is very simple: the aim is to attract the most naive and emotional people, so the opinion of others is not important. All attempts to argue or doubt will be pushed down by the group itself and people who have already been brainwashed by them. Besides, there is always the opportunity to ban people who think and ask too much.
4. What could be the moral? I think, the most important thing is just to be permanently cautious and aware of the risks around. My attitude has always been that I am ready to work with any people and any ideas that I find here in FF, I am open to anything new but I always retain my total independence in making my choices and decisions. This way I feel quite protected and do not have to suspect everything and everybody all the time. From trading point of view I do not care what somebody's real intentions are as long as I get new trading ideas from them. But I also do not like people being brainwashed under my own eyes.
  • #1,297
  • Edited 12:57pm Aug 23, 2009 12:28pm | Edited 12:57pm
I have posted the settings that I use to manage the trades in previous posts but it maybe scattered all over.

You have a choice how you want to trade this method as far as trade size is concerned.

I generally split the trades into 3-4 parts with the view to scale out of the trade as the trade progresses in my favor.
Unfortunately when you put a trade on, you don`t know how far it will run.
By scaling out, you can at least squeeze a few extra pips out of the trends that run for a length of time.

Setting TP, SL and TS is not an exact science. The market is not predictable and you will never find a one-size-fits-all setup.
In addition, different pairs have different trading ranges and a "unique " character or personality.

I look at historical data as a guideline to get a handle on 2 main aspects:

1) What is the average size of potentially successful trades?
2) What is the average drawdown of potentially successful trades?

This gives me a starting point to set up the EA to at least manage the trades within parameters that have some connection with PA for the individual pairs.

Bear in mind that you will never be able to be right 100% of the time!!!

All I want to achieve is to make sure I end up with pips in the bank from a trade that progresses to the TP1 target.

There are various EA`s you can use, in fact you don`t HAVE to use one.
You can set a simple TP and SL target and use a TS if you want to.

GBPUSD , GBPJPY, EURJPY

TP1 25
TP2 35
TP3 50

BE 25
TS 25

AUDJPY, EURUSD, AUDUSD

TP1 20
TP2 30
TP3 35

BE 20
TS 20

Suggested settings are for 60 15 5 TF only.
" Never let the past hold the future to ransom "
  • #1,298
  • Edited 12:50pm Aug 23, 2009 12:39pm | Edited 12:50pm
Quoting Gleneagles
I have posted the...
Hi Glen,
Hope you have spent a good weekend
Do you suggest that the SL/TP should not depend on what TF we trade? Logically, I could imagine that if the signal comes from H4 then we could hunt more pips than from M30?
  • #1,299
  • Aug 23, 2009 12:56pm Aug 23, 2009 12:56pm
Quoting Indrek
Hi Glen,
Hope you have spent a good weekend
Do you suggest that the SL/TP should not depend on what TF we trade? Logically, I could imagine that if the signal comes from H4 then we could hunt more pips than from M30?
Hi Indrek,

Weekends are there to be enjoyed

The settings are suggested for 60 15 5 only, I am in the process of editing the post because I forgot to include it. Thanks for pointing it out.
" Never let the past hold the future to ransom "
  • #1,300
  • Edited 5:04pm Aug 23, 2009 5:03pm | Edited 5:04pm
Quoting Indrek
I noticed that there is a crook hunt going on in FF again (referring to what has been written in http://www.forexfactory.com/showthre...86533&page=121 lately).
I have also been discussing the matter with some people and have a personal opinion supported by my professional experience in the fields related to security and justice. And as market is closed anyway, I hereby use the opportunity to say some things here publicly.
1. I have been asked lately if it is really possible that there are so many crooks in FF (lately TG/CB was...
WOW

I thought that I was smart to figure out TG but Keith/Expat saga has totally shaken up the online forex community for me.

Initially I just glanced through page 121 of expat thread, but looking at it after reading your post has totally opened up my eyes.

This will not only save me time from following loser threads but also avoid wasting my time trying to use logic on those cult like threads.

It is funny how people still swear by expat's method.
WANT WHAT THE MARKET WANTS...
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