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  • #1,421
  • Apr 5, 2010 9:08pm Apr 5, 2010 9:08pm
Quoting stratman
MissPips, please post anything ... anytime ... your comments are always welcome
Those of you that wish to investigate the 10 pip suggestion further can setup the pipware charts to have M1, M5 & M15 showing simultaneously. Note that the pipware charts indicator is freely available from pipware.com

MissPips also has useful indicators on the THV thread. (MissPips, please feel free to post any of those here).

If you have the dashboard, I provide the Hx column (in the blue box below) to easily see when a setup occurs. You can also setup an alert for when the M1,M5 & M15 histo change to all one color. I think MissPips also has alerts in her indicators as well?

Attached Image (click to enlarge)
Click to Enlarge Name: Histo.jpg Size: 78 KB
  • #1,422
  • Apr 5, 2010 9:09pm Apr 5, 2010 9:09pm
Hi stratman.

Was wondering if you have templates for the charts your using in the video's?

Thanks,

John
  • #1,423
  • Apr 5, 2010 9:16pm Apr 5, 2010 9:16pm
We have been discussing VSA a lot in the skype trading room. Anyone interested in describing what's likely going on in this picture?

Attached Image (click to enlarge)
Click to Enlarge Name: EJ-Vol.png Size: 21 KB
  • #1,424
  • Apr 5, 2010 9:32pm Apr 5, 2010 9:32pm
Quoting stratman
We have been discussing VSA a lot in the skype trading room. Anyone interested in describing what's likely going on in this picture?

Attachment
I'll take a stab at it. It is getting ready to bounce or head up?
  • #1,425
  • Apr 5, 2010 9:33pm Apr 5, 2010 9:33pm
Quoting stratman
MissPips, please post anything ... anytime ... your comments are always welcome
Yes Miss Pips, please do, you have a lot to teach, I have a lot to learn.

John
  • #1,426
  • Apr 5, 2010 10:11pm Apr 5, 2010 10:11pm
Hi Misspips,

Thanks for the tips and those are really helpful.

Cheers
City

Thanks

Quoting MissPips
See this post in the THV thread

http://www.forexfactory.com/showpost...ostcount=16293

and this one in the THV thread

http://www.forexfactory.com/showpost...ostcount=17297

for examples of how I use it


(Sorry for butting in Stratman)
  • #1,427
  • Apr 6, 2010 7:35am Apr 6, 2010 7:35am
Quoting stratman
We have been discussing VSA a lot in the skype trading room. Anyone interested in describing what's likely going on in this picture?

Attachment
It is a "Dragonfly doji", not very common, and is a sign of a reversal, meaning I think smart money is loading up for that screen shot to go long.
Just my humble opinion, let me know if I am correct, I am trying to learn something new everyday.
  • #1,428
  • Apr 6, 2010 1:04pm Apr 6, 2010 1:04pm
Greetings, All:

Recent posts regarding MA Crosses prompted me to (hopefully) make a gainful contribution. No doubt the most popular such approach has been based on the Sidus System which entails the line crosses of LWMAs 5 and 8 above/below a tunnel created by EMAs 18 and 28. When the lines assemble in order you are on the "right" side of the price action. An MTF approach dictates, for instance, that when a higher timeframe (say, M30) is lined "up" the trader is looking only for Buy opportunities presented by retraces or breakouts on a lower timeframe (say, M5). Careful monitoring of strong support/resistance points would dictate whether a trade would be entered. I've employed the DB alert of M15 Fractal Breaks as a heads up that a trade might be in the offing.

Pursuant to this strategy, please find attached three "Sidus Modified" indicators. The first will show the four MAs on the main screen and provides alerts at every cross within the timeframe. Lots of false signals on lower timeframes.

The second indicator employs a 21 RSI "filter" and will color the main screen candles up or down. It also has an alert.

The third indicator is set up in a separate window and employs a 12,24,6 MACD "filter" with Buy/Sell/Wait for the M1 through H4 periods.

For the record, I did not create these indicators and lay no claim to being a coder par excellant such as strat. Hopefully, my ammendments to make them emulate the Sidus settings are not too far off base. I believe they are accurate but employ them at your own peril. My purpose in providing this information is to further the discussion and perhaps see some of this find it's way into the DB as additional options. If I have overstepped my bounds, please let me know and I will remove this post.

One last note: I am a swing trader and, as MA Crosses lag the price action, I am most reliant on M15 Fractal Breaks as previously noted. IMHO it is price action crossing the lines that is more important than waiting for the actual lines to cross and line up.

Stay well, All.

Steve
Attached File(s)
File Type: mq4 MA4xtrend_Sidus.mq4   7 KB | 520 downloads
File Type: mq4 MA RSI (Sidus) Colored Candles.mq4   6 KB | 519 downloads
File Type: mq4 TrendFriend v1_01.mq4   11 KB | 606 downloads
  • #1,429
  • Edited 4:00pm Apr 6, 2010 3:36pm | Edited 4:00pm
Hello Stratman,

Unfortunately, I do not have time to join your wonderful skype room right now but in the future I will try. From everything that I have read on VSA is that people can not get a true measure of volume from forex brokers.
If you take a look at the first two posts of this wonderful FF thread on Volume http://www.forexfactory.com/showthread.php?t=126216
you will see what I mean. Also, this user has a forum where this person made a mt4 indicator to read true volume. If you were able to do this and add it with your dashboard it would make your dashboard the ultimate tool for forex traders. This is just my opinion. If you get time take a look at this information and I think you will agree with me. Also, if anyone is interested in volumtraders methods of trading volume just click on his username to goto his profile. The click on visit his website. On his website it has a link to his forum and there you can see how he trades different markets using volume.

Regards,
Jeff
Quoting stratman
We have been discussing VSA a lot in the skype trading room. Anyone interested in describing what's likely going on in this picture?

Attachment
  • #1,430
  • Apr 6, 2010 5:01pm Apr 6, 2010 5:01pm
This is where I am steering everyone ie to understand how these components work. You have shown a 'final' system (thank you for that) and it's something that my readers should see as their long term goal.

For now we are still on the journey ... we are in part 2:

My current trading uses 3 components:
1) Moving Averages
2) Price Action
3) Oscillators

so the current stage is that we know about moving averages and we are adding support and resistance to this. Shortly we will add fractals.

Later we will add Oscillators for filtering trades.

Quoting SMScom
Greetings, All:

Recent posts regarding MA Crosses prompted me to (hopefully) make a gainful contribution. No doubt the most popular such approach has been based on the Sidus System which entails the line crosses of LWMAs 5 and 8 above/below a tunnel created by EMAs 18 and 28. When the lines assemble in order you are on the "right" side of the price action. An MTF approach dictates, for instance, that when a higher timeframe (say, M30) is lined "up" the trader is looking only for Buy opportunities presented by retraces or breakouts on a lower...
  • #1,431
  • Apr 6, 2010 5:05pm Apr 6, 2010 5:05pm
Thanks. Some of the guys in the skype room have been reading this thread and using the indicators. It's something that certainly interests me as we have someone in our trading room that trades using Volume and Support/Resistance with the dashboard just for the market hours ADR area.

It's something I don't know enough about yet but looks like it will become part of my strategy ... maybe it will be

4) Volume Component

Quoting azjeff
Hello Stratman,

Unfortunately, I do not have time to join your wonderful skype room right now but in the future I will try. From everything that I have read on VSA is that people can not get a true measure of volume from forex brokers.
If you take a look at the first two posts of this wonderful FF thread on Volume http://www.forexfactory.com/showthread.php?t=126216
you will see what I mean. Also, this user has a forum where this person made a mt4 indicator to read true volume. If you were able to do this and add it with your dashboard...
  • #1,432
  • Apr 6, 2010 5:09pm Apr 6, 2010 5:09pm
What I was trying to show is that trading candle patterns in isolation can be very risky. Some will say that this is a high probability to go long. The moving averages alone would be enough to stop you taking this long.

In terms of VSA, this is indicating that there is a lot of 'supply'. So downside is still quite likely. If future candles 'tested' this level again with less volume each time ... then supply would be getting less and strength is entering the market.

If you wish to understand what I mean by strength, weakness, supply and demand, find some literature on VSA (Volume Spread Analysis) ... there is plenty available around the net.

Quoting stratman
We have been discussing VSA a lot in the skype trading room. Anyone interested in describing what's likely going on in this picture?

Attachment
  • #1,433
  • Apr 6, 2010 10:13pm Apr 6, 2010 10:13pm
Quoting stratman
If you wish to understand what I mean by strength, weakness, supply and demand, find some literature on VSA (Volume Spread Analysis) ... there is plenty available around the net.
While I was pretending to work at my day job today, I did some research on VSA because it came up here on the thread. I found a good intro article on it and thought I would share it. It was pretty illuminating for me. Author is Todd Krueger. If interested, try googling the following:

Revealing the Hidden Secrets of Analyzing Volume in the FOREX Markets using Volume Spread Analysis

(I would post the link directly, but I am not sure if I can do that on FF. I don't want to tarnish my Junior Member status!)
  • #1,434
  • Apr 6, 2010 10:51pm Apr 6, 2010 10:51pm
In this video I explain choosing a moving average type and period ... I get asked what to use ... lots

I also explain how to look for best low draw-down entries and where to place your stops.

Inserted Video
  • #1,435
  • Apr 6, 2010 11:41pm Apr 6, 2010 11:41pm
MT4 moving average settings for this kind of strategy need adjustment every time you change your timeframe. Avoid this by using the dashboard.

Inserted Video
  • #1,436
  • Apr 7, 2010 12:17am Apr 7, 2010 12:17am
Here's another part of the strategy

Inserted Video
  • #1,437
  • Apr 7, 2010 12:40am Apr 7, 2010 12:40am
Here's my next opportunity

If you have been following my videos ... you know what to do

Attached Image


EDIT: EJ M15
  • #1,438
  • Apr 7, 2010 3:13am Apr 7, 2010 3:13am
Quoting stratman
Thanks. Some of the guys in the skype room have been reading this thread and using the indicators. It's something that certainly interests me as we have someone in our trading room that trades using Volume and Support/Resistance with the dashboard just for the market hours ADR area.

It's something I don't know enough about yet but looks like it will become part of my strategy ... maybe it will be

4) Volume Component
I have coded some "volume" indicators for MT4, using them as I went along. Nevertheless, I will say that one should be a highly successful trader never using "volume".

Mt4 "volume" is the number of trades recorded on the broker's server per time frame (and that server will likely disagree with ever other server across the globe). Additions come in with each tic. That is to say, each tic includes the number of trades at that price since the previous tic, at the same or different price. And when a tic is output during a time of no price change, the tic still shows the trades recorded on the server at that unchanged price since the previous tic. Unfortunately, the size of each trade is not disclosed. So a single micro mini-lot trade carries the same weight as a 100 lot trade! And, I am told that really big purchase deals are not disclosed to the market for inclusion into various "volume" data banks, for up to three days after they are transacted! The distribution of true, complete and timely "volume" data simply does not exist in the spot forex market.....not anywhere. And in this highly unregulated market, that is probably by design.

Such an incomplete technical could not possibly compliment the Dashboard, whose standards are much higher than the "standards" governing the collection, dissemination, and even the definition of "volume" in this marketplace.
  • #1,439
  • Apr 7, 2010 4:01am Apr 7, 2010 4:01am
Quoting stratman
Here's my next opportunity

If you have been following my videos ... you know what to do

Attachment

EDIT: EJ M15
I took the short as yours after the double top, nice 40p earned if you are clamed to stay. I'm not, an early leaver!! http://cdn.forexfactory.com/images/icons/icon8.gif
  • #1,440
  • Apr 7, 2010 5:26am Apr 7, 2010 5:26am
Quoting traderathome
I have coded some "volume" indicators for MT4, using them as I went along. Nevertheless, I will say that one should be a highly successful trader never using "volume".

Mt4 "volume" is the number of trades recorded on the broker's server per time frame (and that server will likely disagree with ever other server across the globe). Additions come in with each tic. That is to say, each tic includes the number of trades at that price since the previous tic, at the same or different price. And when a tic is output during a time of no price change,...
I have seen a guy on youtube that uses volume from forex futures to trade on spot forex with. Is this data any better?
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