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MTF Trix system

  • #1,681
  • Aug 28, 2009 2:55pm Aug 28, 2009 2:55pm
Quoting Indrek
This is my last trade for this week, I promise...
So, had 3 trades today and in all occasions the second half of my position was stopped out at BE. And in 2 occasions my SL was hit exactly before PA turned back to my direction...
Which probably means that I badly need some EA that Glen was speaking about - that would hide my activities from the br*ker.
Glen, any suggestions where to get one of these?
Here's what I do:

I have IBFX MT4 to chart, and set my S/L, TP etc...

But I trade with FXCM UK...through the panels...so for them all they see is some guy randomly clicking buttons.

All my SL/TP, Limit etc... are plotted on the MT4...I don't even have a chart up from FXCM.

"Do not let the left hand know what the right is doing"
  • #1,682
  • Aug 28, 2009 3:06pm Aug 28, 2009 3:06pm
Quoting pilotui
Here's what I do:

I have IBFX MT4 to chart, and set my S/L, TP etc...

But I trade with FXCM UK...through the panels...so for them all they see is some guy randomly clicking buttons.

All my SL/TP, Limit etc... are plotted on the MT4...I don't even have a chart up from FXCM.

"Do not let the left hand know what the right is doing"
I must admit that I did not understand you at all as I am very stupid in IT stuff... That is why I am not dreaming about any very complicated solution, just an EA would suit my needs
  • #1,683
  • Aug 28, 2009 3:07pm Aug 28, 2009 3:07pm
For entertainment only...

See how's my internal TRIX working? Basically you have

to BUY when it says SELL.. Did I TP for 15 pip profit?

Heck, NO, I would sell them near $1.44/EURO, when they

desperate to get out of the Dollar...

Have a great weekend!

Here:
Attached Image (click to enlarge)
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Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,684
  • Edited 3:09pm Aug 28, 2009 3:08pm | Edited 3:09pm
Quoting Royston
hullo all,

and as for The Mystery of the Missing Signal Arrows, Dr Watson... The relevant code in the indicator is

bool bCrossUP = dClose > dAverage;
bool bCrossDN = dClose < dAverage;

In English, this means an UP signal is given if the Close is greater than the relevant moving average value. It is a filter - perhaps you only want to see long signals above the 200 ma for example. However, the average is set to use values of the LWMA using the "weighted" option. The manual says this is
PRICE_WEIGHTED 6 Weighted close price, (high+low+close+close)/4....
Yes, Swingman used the weighted values because that is the way that Edge said that the LWMA should be used in the initial C4 configuration.
  • #1,685
  • Aug 28, 2009 3:13pm Aug 28, 2009 3:13pm
Quoting ianf0ster
Yes, Swingman used the weighted values because that is the way that Edge said that the LWMA should be used in the initial C4 configuration.
I have nothing against LWMA, it is a nice tool But I was looking for a way to eliminate MA in SMScalperSignals without losing any Trix signals. My solution was to set MA instead of 12,3,6 to 1,1,1. It works to my mind.
Of course, if somebody could delete MA from ScalperSignals code or to code a version of Trix that would just draw arrows on the main chart, it would be very much appreciated.
  • #1,686
  • Aug 29, 2009 1:23am Aug 29, 2009 1:23am
Please check and comment

I feel this practical chart example is warranted after reading a few posts so far. My intentions is to help fill in a few gaps for some members.

Please do not ask for templates. indicators and settings. Make your own template please...and all indicators and settings have already been provided on this thread.

Sl and TP already dicussed by Gleneagles.

Will explain a 60-15-5 strategy with chart soon.
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  • #1,687
  • Aug 29, 2009 1:32am Aug 29, 2009 1:32am


It is very clear and concise.

Thank you for making it even easier.
" Never let the past hold the future to ransom "
  • #1,688
  • Aug 29, 2009 2:12am Aug 29, 2009 2:12am
Glen in Irathi's example the entries are all three around a round number.Wouldn't be safer to enter at the second signal after the first break?
We don't know in advance , just educational perposes
  • #1,689
  • Aug 29, 2009 2:40am Aug 29, 2009 2:40am
Please check and comment on this 60-15-5 strategy too!


Hope this clarifies any gaps.

Same as my previous post in regards to Sl,TP.indicators and settings and templates.
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  • #1,690
  • Aug 29, 2009 2:52am Aug 29, 2009 2:52am
Spot on!

It is simple and straightforward.

Thank you for the effort.
" Never let the past hold the future to ransom "
  • #1,691
  • Aug 29, 2009 3:14am Aug 29, 2009 3:14am
Quoting Indrek
I have nothing against LWMA, it is a nice tool But I was looking for a way to eliminate MA in SMScalperSignals without losing any Trix signals. My solution was to set MA instead of 12,3,6 to 1,1,1. It works to my mind.
Of course, if somebody could delete MA from ScalperSignals code or to code a version of Trix that would just draw arrows on the main chart, it would be very much appreciated.
I have attached an altered version of the Swingman arrows indicator. I have kept all the original coding, but altered the following.
1. The input values default to a 1 period SMA based on Close prices
2. The moving average filter now shows signals where Close >= Average, i.e., Candle Close is greater than or equal to Moving Average.
3. Waiting time defaults to 0

In this way, the indicator is still capable of being used with a filter for longer periods such as 200 LWMA as Swingman intended.
Attached File(s)
File Type: ex4 smC4Scalper Signals_v1 roy 01 adjusted to allow 1 per mov avg.ex4   12 KB | 561 downloads
  • #1,692
  • Aug 29, 2009 3:41am Aug 29, 2009 3:41am
Quoting tazmaan
Hi Royston,

Due to the fact that I cannot be at the computer much lately, I was wondering if you might entertain an idea for your mtf trix indicator that would help visually check the chart for the day when I get home.
Luckily, when I checked, the indicator that most people are now using (including that on your chart), was written by Xecret. Mine was posted at post 1168. Then at post 1301, Xecret wrote
Quoting xecret
Inspired by Royston's trix meter, I wrote another version, which looks a little better.
.................... ....................................................

As such, I think you need to address your question to him.

Personally, I am of the Glen school in that I try to get rid of unnecessary information on my charts, as it just gives me a headache. More information just subconciously competes for my attention, when I want it really to be focussed on the behaviour of the currency pair. However, I can see its worth for historic analysis as you describe.
  • #1,693
  • Aug 29, 2009 6:19am Aug 29, 2009 6:19am
Quoting Epsilo
Glen in Irathi's example the entries are all three around a round number.Wouldn't be safer to enter at the second signal after the first break?
We don't know in advance , just educational perposes
These charts are for educational illustrative purposes of how to interpret the MTF trix indicator and the two strategies discussed to date by Gleneagles.

There was some confusion in some members minds to what it all means in terms of entry and re-entry. My intention was to illustrate this and clear any gaps.

If you have read any of my trading posts anywhere here at FF or elsewhere.... there are three tools in trading which are no exception for entry and EXIT.
1. Use of S&R (00 numbers comes in here.)
2. Higher TF participation
3. Divergence awareness.( I leave the TRIX indicator on my chart for this purpose)

I have written many a check list too...

Money management is very,very important. Risk..position size....S/L etc

In this thread... Glen/Indrek has made us aware of taking ATR into account..session times. news, correlation for intraday trading is used by many traders for a good reason. ALL THESE FACTORS are more important for short term trading... These things when taken to account are saying WHAT? PA moves faster.. volatity is higher..

USE ALL ,SOME OR NONE.... THESE ARE ALL GUIDELINES....

I strongly suggest.... sit down... work out your own trading plan in detail WRITE it down...
Decide what YOU will include in this plan to the minute details.Entry,exit,MM etc.
Write a flow chart... write a checklist.

Put it near your trading screen. Follow this flow chart exactly.YOu will make money.

DO NOT FOLLOW others if YOU are not comfortable with the plan. Know exactly why you are using a certain indicator, tool etc. What aspect of trading is it going to improve or not.... Do I need it for the TF I WANT TO TRADE? What will improve higher probability trades?

Trading is a personal journey...
thanks,
  • #1,694
  • Aug 29, 2009 6:30am Aug 29, 2009 6:30am
1. Thanks for your version for MTF Indicator.
2. May I ask why the one provided to us looks different to the one on your charts?

There is another empty square with a dot in the middle... What information does this say?

3. The TF on the right against each line does not appear like in your charts....only the first line eg.M5...
Even though there is an INPUT for name....it does not work for the other TF you add? A little bug?

4. What are the times displayed on the right of each line... Only in the version you use on your charts?Is it helpful or just extra information....

Look foward to some answers to my questions.
  • #1,695
  • Aug 29, 2009 6:35am Aug 29, 2009 6:35am
Quoting Royston
Luckily, when I checked, the indicator that most people are now using (including that on your chart), was written by Xecret. Mine was posted at post 1168. Then at post 1301, Xecret wrote


.................... ....................................................

As such, I think you need to address your question to him.

Personally, I am of the Glen school in that I try to get rid of unnecessary information on my charts, as it just gives me a headache. More information just subconciously competes for my attention, when I want it really...
Attn: Royston

The smcandle indicator:
the waiting time refers to the minutes before the alert come on to the trader. Very handy feature ... Gives the trader time to check the chart when indicators line up and check charts in time for CLOSE of candle.

This practical feature is seen when traders use email alerts convertered to SMA on their mobiles.

HOWEVER...... My last conversation with swingman is that this feature does not work proper in the current time... There is a little bug that needs fixing... I suggest to test it...fix it kindly for us if you can(Maybe have to consult ,PM swingman if you feel necessary)

thanks
  • #1,696
  • Edited 10:24am Aug 29, 2009 6:39am | Edited 10:24am
Hello Irathi,

Thanks again for your clear charts and explanations!!

Regards,

Caz
  • #1,697
  • Aug 29, 2009 7:14am Aug 29, 2009 7:14am
Quoting Royston
Luckily, when I checked, the indicator that most people are now using (including that on your chart), was written by Xecret. Mine was posted at post 1168. Then at post 1301, Xecret wrote


.................... ....................................................

As such, I think you need to address your question to him.

Personally, I am of the Glen school in that I try to get rid of unnecessary information on my charts, as it just gives me a headache. More information just subconciously competes for my attention, when I want it really...
I agree that it is only worth for historic analysis. In trading we ought to use comfirmed signal with corresponding bars closed. Tazmaan's request is realizeable theoretically. However, I'm sorry to say I'm not a coder and not too much interested in coding. I only code something I need and cannot be found elsewhere.
  • #1,698
  • Aug 29, 2009 7:49am Aug 29, 2009 7:49am
Quoting lrathi
1. Thanks for your version for MTF Indicator.
2. May I ask why the one provided to us looks different to the one on your charts?

There is another empty square with a dot in the middle... What information does this say?

3. The TF on the right against each line does not appear like in your charts....only the first line eg.M5...
Even though there is an INPUT for name....it does not work for the other TF you add? A little bug?

4. What are the times displayed on the right of each line... Only in the version you use on your charts?Is...
The one on my chart is a newer version in which I added something. Hollow square means the upper tf candle is in progress and not closed yet. Semi-solid square (with a dot in the middle) mean the upper tf candle is closed at that position. Solid square is the comfirmed signal of the upper tf. Of course, the comfirmed signal can only come at a position that the upper tf candle is closed. The time on the right is the remaining time of the corresponding upper tf candle to close. You may have problem on the lables on the right side, do like this:
a. The indy should be dragged to the main chart first to open an indicator window, then you drag it several times to this window.
b. Do not change the "Name" option. If you change it, they should be exactly all the same.
c. If the lable is not displayed, try to switch your chart tf and switch back and see if it is displayed.
Attached Image
Attached File(s)
File Type: ex4 MTF_Trix_Meter_0.1.ex4   8 KB | 704 downloads
  • #1,699
  • Aug 29, 2009 9:05am Aug 29, 2009 9:05am
Quoting Royston
I have attached an altered version of the Swingman arrows indicator. I have kept all the original coding, but altered the following.
1. The input values default to a 1 period SMA based on Close prices
2. The moving average filter now shows signals where Close >= Average, i.e., Candle Close is greater than or equal to Moving Average.
3. Waiting time defaults to 0

In this way, the indicator is still capable of being used with a filter for longer periods such as 200 LWMA as Swingman intended.
Thank you
Interesting but the signals match absolutely with the original indicator with MA set to 1,1,1. So, now we have two equally usable versions
  • #1,700
  • Aug 29, 2009 9:57am Aug 29, 2009 9:57am
Quoting Indrek
Thank you
Interesting but the signals match absolutely with the original indicator with MA set to 1,1,1. So, now we have two equally usable versions
Hi Indrek,
I am guessing that by setting the ma to 1,1,1 you mean
Period_Avg = 1
ma_method =1
applied_price = 1
If this is the case, this is equivalent to using a 1 period ema of the Open price as your filter.
I overlaid the 2 sets of settings, and checking on the 60 min EURUSD chart, these settings do not notify you of the signals at
10: 00 on 28th August
10:00 on 25th August
16:00 on 17th August
Not many signals are missed, though. As they say here, it is good enough for rock'n'roll.
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