Murrey Math Daily System

im having a problem with stealth 2. some of the trades go in my direction, i havent watched them for like 10 hours and when i take a look they are between 2 murrey lines and penetrated the one that i needed couple of hours earlier, but the EA didnt close the trade although it went lets say 10-20 or even more pips past the profit target. why dont we just use the built-in tp of MT4 and use the ea only for other functions like trailing?

I told everyone numerous times that you can use whatever you'd like, but sometimes it doesn't matter if you have spreads being increased or server issues. Have you double checked the settings to make sure they're correct? If so then use MT4's TP and trailing functions and see if it works.

Just a small update on the new trading that I started. I have had 7 trades (using .1 lots each) closed for a total profit of $689.37. I still have 7 open trades going on and will be adding a few more trades tonight at the new candle. There have been no losses as of yet so all new trades will remain at .1 lots

I have now entered 10 more trades tonight for a total of 17 open trades. I will update if any close before bed, otherwise I will update tomorrow morning.

Tried your Murrey Math lines.

http://i944.photobucket.com/albums/a...n/usdcad-8.gif

Looks like gbpusd really was overbought.

http://i944.photobucket.com/albums/a...n/gbpusd-2.gif

"Stall and reverse". I like that one.

http://i944.photobucket.com/albums/a...n/eurusd-1.gif

That's obviously not the same indicator as mine but yeah, stall and reverse sounds a little funny.

Freewheelin, there seems to be a discrepancy between the line values on the template from this thread to the values of the lines on the indicator that you included in your post no 334.
If you vertically tile the same up to date daily chart, place the thread template on one and the post 334 indicator on the other you will see what I mean. On one chart that I looked at there was a difference of 40 pips at the +2/8 level. That makes it a bit difficult to do any visual backtesting.

I'm sure Freewheelin will chime in, but you can't compare two totally different indicators and expect to see the same thing. Besides, Freewheelin could be using a totally different broker, which makes a big difference regarding data feeds.

Also forgot to mention, I will be moving my stats page to www.myfxbook.com. please follow the link in my signature.

I started trading this system live on my Oanda acct last week. I have made 14.51% since so far this month. I'm only using mirco lots, but I get to test this system live. I currently have 8 trades going right now. I'm only looking for 50 pips profit so far (I might change this to tp at Murray line later) and the trades must be above or below my 10 sma h/l. Thanks Mer, i'm enjoying your system.

To Mer. Sorry mate, you missed my point. I openned two charts on the same platform so both of them were identical in every respect. I then applied the two indicators which, as Murrey Math is a set formula and in this case is working on the same data the lines should be of identical value. Or at least that is what I assume.

With a bit of luck there should be a screen shot of two charts. The values of some of the different lines are as follows:

Left Chart Right Chart

+2/8 140.46 140.63
8/8 137.26 137.50
5/8 132.62 132.81
4/8 127.90 128.13

No, I fully understand your point, but what I'm trying to get across is that the computational logic of each indicator that you try can differ and that's why you won't see the same information. It has nothing to do with the Murrey Math fundamentals that they're based around. One indicator may be using 64 periods to make its calculations, the other may use 32 or even 128, who knows. With all the different ways that a coder can tweak an indicator, it's possible you could have 10 different Murrey Math indicators, and they could show completely different results, no matter if they're on the same platform or not.

Right Mer thanks for that. That explains one thing but it raises another question. You are using the results of A's formula, I am using B's and Tom, Dick and Harry are using C,D and E's. We are all using the same broker and the same charts and therefore the same data but we all will have different lines on our charts. So who has the correct ones?
I can understand that if I am using different data to you and we are both using the same formula we will get different results. That makes sense. My lines are drawn where they should be according to the data that I have. But if we all have the same data and different lines I just don't get it. The market doesn't look at my chart and say "I will have to go another 55 pips to get to Bob's next line" and then take a peek at your chart and say "Oh, Oh that won't work I have to go to 65 to get Mer in."
You have shown that you have the runs on the board so for you it must work and therefore if I trade using the template you have provided it should work for me. But it could be an abject failure for someone else who through no fault of their own is using the wrong person's formula.

dear mer071898,
thanks a lot for sharing your tecnique, I had uploaded the indicator (murrey_Math_line_X_eng.mq4) and a could see a diferece in murrey levels wen you upload the plain.tpl
why levels are not the same?

If you are having different lines using the same broker, then something is wrong with your settings, otherwise it should be exactly the same.


All I can say is that if you are using a different broker, all you can do is trade with the data provided. The concept and principle is still the same, but you will have to trade off whatever the formula is calculating using whatever data is provided. I don't know what else to tell you.


I really shouldn't have to answer this as it's been covered already but I will.

If you are seeing different results from what I have, your are either using a different broker with different data, or your MPeriod on the indicator is not set to 1440.

People, please read through the thread before asking really simple questions that could already have been answered before.

can you update the fxbook stat, please?

Done.