MTF Trix system | Page 133 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MTF Stochastics into MTF Stoch Histogram 8 replies

MTF Trix Meter 1.1d help! 0 replies

5 digits fro trix and mtf trix 2 replies

Anyone heard of the TRIX indicator ? 4 replies

Trix indicator 2 replies

Attachments: MTF Trix system
Exit Attachments

MTF Trix system

  • #2,641
  • Sep 21, 2009 3:22am Sep 21, 2009 3:22am
Quoting Gleneagles
I start trading around 05H30 GMT. The pivots may differ by a few pips because of different broker platform times and slight differences in price feeds. The signal was around 16224, I waited until it broke below 16200 but it was OK to take the entry a few pips earlier.
Comparing the charts I found out that not only pivots differ but even candles and candle formations on M5... Difficult to understand but that's what I see.
Your entry candle is a long doji on your chart but I have a very ordinary short candle at the same place...
  • #2,642
  • Sep 21, 2009 3:33am Sep 21, 2009 3:33am
Quoting Indrek
Comparing the charts I found out that not only pivots differ but even candles and candle formations on M5... Difficult to understand but that's what I see.
Your entry candle is a long doji on your chart but I have a very ordinary short candle at the same place...
In the end it does not make much of a difference, there will always be slight differences between different platforms. Even a demo and live price feed from the same platform can differ.
" Never let the past hold the future to ransom "
  • #2,643
  • Sep 21, 2009 4:06am Sep 21, 2009 4:06am
To Gleneagles & Indrek,

I'm unable to get the MTF Trix Meter 1.0d to work like as intended. In the charts you guys shared, there were multiple boxes which I believe refers to the different TF. However, I can only load 1 TF. See pic.

I have tried using the Trix meter v0.9 and also the version from Royston, didn't work.

Can you advise how to get mt4 to display like what you have? tks. New to FX and mt4.
Attached Image (click to enlarge)
Click to Enlarge Name: Trix.jpg Size: 74 KB
  • #2,644
  • Sep 21, 2009 4:17am Sep 21, 2009 4:17am
Hi Glen, in your last two trades, where your entries are well past the signal candle -2, am I correct in saying you are using break of previous swing low for entry?

Just one trade today for me. I entered after price moved south > 10 from S1, also breaking previous swing low. Didn't quite make my 15 TP. Is this a correct entry?

This is 30 5. I've also added 240.

thanks
saylu

Attached Image (click to enlarge)
Click to Enlarge Name: 20090921GUloss.jpg Size: 60 KB
  • #2,645
  • Sep 21, 2009 4:36am Sep 21, 2009 4:36am
[quote=saylu;3075850]Hi Glen, in your last two trades, where your entries are well past the signal candle -2, am I correct in saying you are using break of previous swing low for entry?

Just one trade today for me. I entered after price moved south > 10 from S1, also breaking previous swing low. Didn't quite make my 15 TP. Is this a correct entry?

This is 30 5. I've also added 240.

thanks
saylu

The entry signal (60 15 5 ) was before I started trading. I decided to wait for a break of 16200, the small consolidation low that was formed on the chart at the time was just the normal price action around a big number.

The 30 5 entry was quite late if you look at the size of the move today. At that stage the move was already 130 pips. If you want to take a trade at that stage, it is best to settle for small pips. The best place to enter is close to the start of a trend. If you enter when the trend is mature or exhausted, you run the risk of trading a retracement/reversal/consolidation.
" Never let the past hold the future to ransom "
  • #2,646
  • Sep 21, 2009 4:39am Sep 21, 2009 4:39am
[quote=saylu;3075850]Hi Glen, in your last two trades, where your entries are well past the signal candle -2, am I correct in saying you are using break of previous swing low for entry?

Just one trade today for me. I entered after price moved south > 10 from S1, also breaking previous swing low. Didn't quite make my 15 TP. Is this a correct entry?

This is 30 5. I've also added 240.

thanks
saylu

What platform are you trading on? Your pivot looks a bit suspect.
" Never let the past hold the future to ransom "
  • #2,647
  • Sep 21, 2009 5:04am Sep 21, 2009 5:04am
Quoting paradoxical
I like to look for trades where the pair is extended, betting on a pullback towards "center". These trades are NOT in conformance with this system as the three times are NOT lined up. Just an observation for consideration.On the EU, the lines are 20 pips away from a 79 Moving Average. Quite interesting the hit rate for at least 5-10 pips after the arrow appears.
Last week I tested a similar idea, with and without ConstantRangeBars.
If you open a thread (please PM me), I can post few interesting indicators for such a system (smKeltnerChannel, smPriceControlLines, smStochastic) ...
  • #2,648
  • Sep 21, 2009 7:02am Sep 21, 2009 7:02am
Was waiting for a breakout entry but a valid MTF Trix signal occurred before that.
SL - 50, TP1 - 25, TP2 - 50, TS by 5 pips starting at 25.
Attached Image (click to enlarge)
Click to Enlarge Name: 2109 1.gif Size: 51 KB
  • #2,649
  • Sep 21, 2009 7:19am Sep 21, 2009 7:19am
Quoting ririz99
To Gleneagles & Indrek,

I'm unable to get the MTF Trix Meter 1.0d to work like as intended. In the charts you guys shared, there were multiple boxes which I believe refers to the different TF. However, I can only load 1 TF. See pic.

I have tried using the Trix meter v0.9 and also the version from Royston, didn't work.

Can you advise how to get mt4 to display like what you have? tks. New to FX and mt4.
hi Rizi

Read this post for help for MTF

http://www.forexfactory.com/showpost...postcount=2571
  • #2,650
  • Sep 21, 2009 7:41am Sep 21, 2009 7:41am
Quoting ririz99
To Gleneagles & Indrek,

I'm unable to get the MTF Trix Meter 1.0d to work like as intended. In the charts you guys shared, there were multiple boxes which I believe refers to the different TF. However, I can only load 1 TF. See pic.

I have tried using the Trix meter v0.9 and also the version from Royston, didn't work.

Can you advise how to get mt4 to display like what you have? tks. New to FX and mt4.
For basic explanation how to attach any MTF Trix indicators to the Trix window, see http://www.forexfactory.com/showpost...postcount=1168.
I am not sure but I think that the manual also covers the topic, at least briefly.
  • #2,651
  • Sep 21, 2009 7:48am Sep 21, 2009 7:48am
2 trades both taking two portions of profit using quik trailing EA
(one during the Asian session, and another this morning)
I have the 5 minute and 60 minute trix in both block and histogram format
I look for the blocks to line up, but also look at how the histogram is shaping up
I also have the 240 minute block and daily block at the bottom of the screen
It may seem cluttered for you purists, but I like it.
I also have a round number indicator on the chart (the yellow dotted line)
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 21 KB
  • #2,652
  • Sep 21, 2009 8:15am Sep 21, 2009 8:15am
Quoting Gleneagles
The entry signal (60 15 5 ) was before I started trading. I decided to wait for a break of 16200, the small consolidation low that was formed on the chart at the time was just the normal price action around a big number.

The 30 5 entry was quite late if you look at the size of the move today. At that stage the move was already 130 pips. If you want to take a trade at that stage, it is best to settle for small pips. The best place to enter is close to the start of a trend. If you enter when the trend is mature or exhausted, you run the risk of...
Thanks for your explanation and patience. I'll re-RTFM a few more times to get these factors sunk in.
  • #2,653
  • Sep 21, 2009 9:14am Sep 21, 2009 9:14am
Hi Guys,

This is my first post on this thread. I would like thank everybody who put
so much effort in this method. Thank you for helping me to understand trading better.

If you could assess my first trade I would be really grateful.

I've entered short on euro/usd at 1.4623 exactly at 15.01 [GMT +2 I'm from Poland ]

Pros
Trix meter was fine (both methods 30/5 as well as 60/15/5).
The price was between pivots and there was some space toward third support. (around 20pips)
No dangerous news coming.

Cons
Price have made quite big move down already so it was exhausted
It jumped up from 1:1 alternate price projection measured from previous swing (screenshot attached). I 've entered after second test.

TRADE COURSE
My initial stop was 20 pips. When I was up 10pips I wanted to move stop to break even because of cons but I didn't.
The market made third test of 1:1 and started to gain momentum against me
so I decided to take 10 pip loss on the small pullback.
As it turned out later it was a good decision.

What do you think about my trade? Would you take also this trade?
See screenshots

Thanks for your help.

Regards,
Baniu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro.gif Size: 47 KB
Click to Enlarge Name: euro2.gif Size: 41 KB
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #2,654
  • Sep 21, 2009 9:32am Sep 21, 2009 9:32am
Quoting pgpb
2 trades both taking two portions of profit using quik trailing EA
(one during the Asian session, and another this morning)
I have the 5 minute and 60 minute trix in both block and histogram format
I look for the blocks to line up, but also look at how the histogram is shaping up
I also have the 240 minute block and daily block at the bottom of the screen
It may seem cluttered for you purists, but I like it.
I also have a round number indicator on the chart (the yellow dotted line)
Hi pgpb,

Can you post your round number indicator?

Many thanks,

Noel.
  • #2,655
  • Sep 21, 2009 9:34am Sep 21, 2009 9:34am
Quoting pgpb
I also have a round number indicator on the chart (the yellow dotted line)
Upon request I have posted the Round number indicator

Obviously one should take caution in taking a trade that is going hit a round number shortly, and if price has recently broken a round number that can be taken as a good sign
Attached File(s)
File Type: ex4 RoundNumbers.ex4   3 KB | 653 downloads
File Type: mq4 RoundNumbers.mq4   3 KB | 632 downloads
  • #2,656
  • Sep 21, 2009 9:37am Sep 21, 2009 9:37am
Quoting Baniu

What do you think about my trade? Would you take also this trade?
See screenshots
I would not take it. Right before your entry, price fell 50 pips in 15 minutes, so the possibility of a bigger retracement was extremely high. Besides, the daily range was also almost exhausted at your entry point. I guess, "room down" was around 20 pips only.
  • #2,657
  • Edited 10:06am Sep 21, 2009 9:42am | Edited 10:06am
Quoting xecret
I think you dont need the indy at all if you want to code something from it. You may directly refer to smSuper TRIX_v1.ex4 which the indy is based on.
Thanks for the info.
NiX - click my profile & visit my website
  • #2,658
  • Sep 21, 2009 9:43am Sep 21, 2009 9:43am
[quote=Baniu;3076743]Hi Guys,

This is my first post on this thread. I would like thank everybody who put
so much effort in this method. Thank you for helping me to understand trading better.

If you could assess my first trade I would be really grateful.

Daily trading range at the time of the trade was 102 pips compared to average daily range of approximately 100 pips for the EUR. The downside potential was very limited. Look at the checklist in the manual regarding trading ranges.
" Never let the past hold the future to ransom "
  • #2,659
  • Sep 21, 2009 12:06pm Sep 21, 2009 12:06pm
....what are the settings because it's not coming on my charts. Any help is greatly appreciated and thanks for sharing the indy
  • #2,660
  • Sep 21, 2009 12:10pm Sep 21, 2009 12:10pm
Quoting kapitolking
....what are the settings because it's not coming on my charts. Any help is greatly appreciated and thanks for sharing the indy
The settings are pretty basic
See image
do you have both the exe and mq4 installed?
Is your chart background the same color as the settings?
It works for me
Attached Image
0 traders viewing now