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Craig Harris Stochastics Method

  • #1,601
  • Apr 19, 2010 10:44pm Apr 19, 2010 10:44pm
Quoting bigjim1958
Hi Neo:
Great contributions to the thread, cool avatar too. I was wondering if this is how you determine what direction to trade in, or do you use the MA's in some fashion? Thanks for all that you do in helping people. I would be curious to hear from other expierenced traders with this method as to what they use for trend direction, it's the number one item on many people's checklist. Thanks

Jim
Hey Jim, thanks for the kind words. When I trade the CH (natural flow) method--which is normally for about 2-3 hours a day (around the London open)...I trade both directions; with the trend and also CT. I use the 20 MA and the 240 MA when I'm on the M15...but by zooming out it's pretty easy to tell which direction the trend is moving (when the market is trending, that is). Bottom line I'm leaning (speaking for myself here) towards realizing that trading ONLY with the trend is maybe not all it's hyped up to be. There are many pips (at least a third, if not closer to half of a day's profits) to be had while trading CT. If you only have 2-3 hours to trade and only take trades that go with the major trend, you'll wait longer. If swings average 30-60 pips...well, that's both ways, up and down. If you're trading CT, just be sure there is some good distance between you and the 20SMA.

You may want to consider joining Carlen's Skype room...it's a good place to hang out with people trading the CH method, even though everyone is on a different schedule...but there are some pro traders in the room that know what they're doing and have many years of experience under their belts.

Cheers,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #1,602
  • Apr 19, 2010 10:50pm Apr 19, 2010 10:50pm
Quoting NeoRio
Hey Jim, thanks for the kind words....
Thanks for the insight Neo, I was using BigE's Heiken Ashi indicator on two higher time frames, kind of like John Carter, wanted to get other's feedback. I have just joined the trader's room, enjoying the feedback. Don't want to rain on the parade of the great new Asian Session indicator, but shouldn't it close on the candle before. If we include the 12 midnight EST candle in the range, that candle closes at 12:59? Just mentioning that for other's consideration. Thanks for everything, I've started to turn profitable thanks to this.

Jim
  • #1,603
  • Apr 20, 2010 1:04am Apr 20, 2010 1:04am
Quoting NeoRio
Hey Jim, thanks for the kind words....
Hi y'all, Neo and co.

I have been following this thread quietly and thought I'd give some input today. This trading with the trend is an interesting topic. I have been melding the methods of Craig Harris and Dean Malone together and at first had lots of trouble, especially finding I tended to get into trends too late and take quick losses on my trades. I have been trying different methods and lately I have found something that fits me quite well. I start off by looking at the 4H trend using Dean's synergy indicators, Heiken-Ashi bars and the price action channel. If the 4H trend is confirmed (HA close outside of the PAC) then I would tend to only take the trades in the direction of that trend, refining entries using Craig's method. I would only take the counter trend trade when the 4H trend seems to have extended and I get the synergy indicators on the lower timeframes (15min and 5min) at extremes and hooking back inside the volatility bands, again using Craig's entry rules. There is more but this is the gist of it and I find it has been working quite well. But at the end of the day, everyone has to find a method that suits their own personality.

Have fun and see you in the Skype room.

VM
"Stay Sharp and Keep Learning!" - VM
  • #1,604
  • Apr 20, 2010 10:13am Apr 20, 2010 10:13am
Quoting Xaphod
Here is an Asian Session Indicator that may be of interest to some of you. I run it today and it seemed to perform as expected.

Features
[list][*]Draws the Asian session channel on the chart.[*]Optional range value displayed under upper channel line.[*]Optional alert when the channel range goes above a set threshold during...
Looks great, going to use it tonight. Have a good one.
KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
  • #1,605
  • Apr 20, 2010 11:11am Apr 20, 2010 11:11am
Thanks to Xaphod I have a better setup of my trading screen. I like to trade bounce of the constructed Asian channel or pullback after breakout.
Attached Image (click to enlarge)
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  • #1,606
  • Apr 20, 2010 1:35pm Apr 20, 2010 1:35pm
Has anyone has an explanation for the CH Tokyo channel base on the range from Sydney open thru NY midnite. I would appreciate learning about it. My premise is that US session maybe close, but trading desk are open. The big trading houses are trading their oversea accounts thru NY midnite. Which inturn became an opening range for the European market. Hence it's valued.
Prior to XI-Asean Session I was using BreakOut_PANCA_EAGLE__indicator.mq4. This indicator create box from GMT 0 to GMT 6(NY midnite). Compare chart to my last post.
Attached Image (click to enlarge)
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  • #1,607
  • Apr 20, 2010 5:46pm Apr 20, 2010 5:46pm
Thanks for testing the indicator and providing feedback. I'm glad you find it useful!
Quoting NeoRio
I think the "CloseVLineStyle" field mistakenly has a color option setting instead of the line style setting.
Ah, copy and paste comes back to bit me. I have updated the file.

Quoting NeoRio
Any chance you could add the option of a 3rd vertical line called "London Close"? That would complete all the needs for the CH trading method including his 23.6 Fib retracement at the LC.Love how you put the option to have it draw as many days back as desired. This makes back testing that much easier!
I'll add a few extra vertical lines. That and a few other tweaks and fixes and it should be ready.

Quoting NeoRio
3 suggestions:
I think you forgot to add the 3rd suggestion. Or maybe it was just the two.

/Xaphod
  • #1,608
  • Apr 20, 2010 6:19pm Apr 20, 2010 6:19pm
Neo Rio... Ditto...

I use the EMA/Close - 21, shift 3 and 233, shift 5.

When I'm wanting to see the REAL trend for a pair I make the chart small (candles) and make sure I'm seeing 3-6 months on my chart. I also trade both directions. Trade the bounces off the 21 and then the crossovers on the 21 and 233.... and of course as you know I always use the Synergy TDI indicator looking for those green/red line crosses and 8,3,3 Stochs, HA Candles.

If you really pay attention you would have to work hard to lose money.... and yes now and then a losing trade happens.... so we double up on the next trade to get our loss back... works most of the time.

It takes time (years) and practice before you master anything... trading is the same... so don't get discouraged and don't give up... paper trade until your comfortable and then start trading MICRO lOTS (.10) CENTS A PIP. Get used to trading with real money and real losses. Then move up to Mini Lots ($1 a pip approximately). When your right 70-80% of the time then you can trade full lots ($10 a pip). That's where the money is made in trading.

Your all doing a fabulous job helping each other... and that's what it's all about anyway... giving of yourself.

Hope your all making buckets of pips... Big E
  • #1,609
  • Apr 20, 2010 7:30pm Apr 20, 2010 7:30pm
Quoting Xaphod
Here is an Asian Session Indicator that may be of interest to some of you. I run it today and it seemed to perform as expected.

Features
[list][*]Draws the Asian session channel on the chart.[*]Optional range value displayed under upper channel line.[*]Optional alert when the channel range goes above a set threshold during...
So far everything looks great. The only think is the pip total is being blocked by the candles. Anyway to put the pip total above the line or somewhere else. Thanks, Carlen68.
KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
  • #1,610
  • Apr 21, 2010 12:00am Apr 21, 2010 12:00am
Hi Xaphod:
First off, thank you so much for all you have contributed to this thread, it's fantastic. I did want to mention that the Asian session indicator that you just wrote closes at 1:00 AM EST, not midnight. It's one minute before 1 AM EST as I'm writing this, from sunny florida, and the box hasn't closed. Just wanted to mention that, I might have it wrong. Thanks again for everything, see all you guys in the skpe room.

Jim
  • #1,611
  • Edited 1:31am Apr 21, 2010 1:17am | Edited 1:31am
Quoting bigjim1958
Hi Xaphod:
First off, thank you so much for all you have contributed to this thread, it's fantastic. I did want to mention that the Asian session indicator that you just wrote closes at 1:00 AM EST, not midnight. It's one minute before 1 AM EST as I'm writing this, from sunny florida, and the box hasn't closed. Just wanted to mention that, I might have it wrong. Thanks again for everything, see all you guys in the skpe room.
What settings do you have for the input parameters OpenHour and CloseHour?
  • #1,612
  • Apr 21, 2010 1:30am Apr 21, 2010 1:30am
Quoting carlen68
So far everything looks great. The only think is the pip total is being blocked by the candles. Anyway to put the pip total above the line or somewhere else. Thanks, Carlen68.
MT4 puts it below the line by default. The pips-to-pixel ratio on the price axis varies depending on time-frame and currency so it is not that simple to place the value at the same position above the line consistently over different time-frames and currencies. One has to workout a formula to calculate the position and I gave up on it due to lack of data and time constraints.
  • #1,613
  • Apr 21, 2010 6:18am Apr 21, 2010 6:18am
Quoting Xaphod
What settings do you have for the input parameters OpenHour and CloseHour?
Hi Xaphod:
I use the default setting which start at hour 0 and end at hour 8, an 8 hour period. I believe on his tokyo channel video, Chris states that his channel starts at 5P.M. est, and runs till 12, a 7 hour period. I could be wrong, but on my charts, the channel closes at 1 a.m., not 12. Thanks for all that you do for us.

Jim
  • #1,614
  • Apr 21, 2010 11:55am Apr 21, 2010 11:55am
Quoting bigjim1958
Hi Xaphod:
I use the default setting which start at hour 0 and end at hour 8, an 8 hour period. I believe on his tokyo channel video, Chris states that his channel starts at 5P.M. est, and runs till 12, a 7 hour period. I could be wrong, but on my charts, the channel closes at 1 a.m., not 12. Thanks for all that you do for us.
The indicator is somewhat generic in order to cater to a wider group of traders and trading systems. The default values in it may not be what you require. You will need to change the default values to reflect the time-zone on which your MT4 is running and what your definition of the asian session is.

00 to 08 is an 8 hour period. If with your current setting the is close an hour to late but the open is at the correct time and you want a 7 hr session then change the closehour value to 7.
  • #1,615
  • Apr 21, 2010 12:10pm Apr 21, 2010 12:10pm
Quoting Xaphod
The indicator is somewhat generic in order to cater to a wider group of traders and trading systems. The default values in it may not be what you require. You will need to change the default values to reflect the time-zone on which your MT4 is running and what your definition of the asian session is.

00 to 08 is an 8 hour period. If with your current setting the is close an hour to late but the open is at the correct time and you want a 7 hr session then change the closehour value to 7.
Hi Xaphod:
That's what I figured, just trying to match up with CH's setting, especially for somone that is new. It's an awesome indicator and you're doing great work, thanks for everything you do, this is a great thread.

Jim
  • #1,616
  • Apr 21, 2010 12:27pm Apr 21, 2010 12:27pm
Quoting bigjim1958
Hi Xaphod:
That's what I figured, just trying to match up with CH's setting, especially for somone that is new. It's an awesome indicator and you're doing great work, thanks for everything you do, this is a great thread.

Jim
Thanks for your kind words. I hope you get it working as it should. The whole local-time / server-time / GMT / DST situation makes things a more complicated than they should be.
  • #1,617
  • Apr 22, 2010 3:31am Apr 22, 2010 3:31am
Quoting Xaphod
I think you forgot to add the 3rd suggestion. Or maybe it was just the two./Xaphod
Oh yes...thanks for reminding me. Well, there are 2 more things:

1) Would you be able to add the option to extend the horizontal lines to continue on till the end of the day? Though the actual reading would only be from x time to x time (0-8), the lines that were plotted between those hours would then continue on to the end of that trading day. This is how I have seen it on CH's chart...as the Tokyo Channel acts as S/R for the rest of the day. If this could be an optional True/False for those who want/need it...that would be so great!

2) The other thing I'd suggest is if you could add the option to put a : in the to/from fields. The other member who has been asking about the time being off...well, if you could make the times be at non hour beginning times, like 3:45, 5:15, etc. That would be so nice!

Thanks
Sentiment: Short on cash. Long on hope.
  • #1,618
  • Apr 22, 2010 4:47am Apr 22, 2010 4:47am
Quoting NeoRio
1) Would you be able to add the option to extend the horizontal lines to continue on till the end of the day? Though the actual reading would only be from x time to x time (0-8), the lines that were plotted between those hours would then continue on to the end of that trading day. This is how I have seen it on CH's chart...as the Tokyo Channel acts as S/R for the rest of the day. If this could be an optional True/False for those who want/need it...that would be so great!
Please disregard this request, Xaphod...the AntGUBO indicator will do just fine. Together with your Asian Session, the same effect can be achieved! Thanks.

The request for a xx:xx option in the time fields still stands!
Sentiment: Short on cash. Long on hope.
  • #1,619
  • Apr 22, 2010 6:20pm Apr 22, 2010 6:20pm
Quoting NeoRio
1) Would you be able to add the option to extend the horizontal lines to continue on till the end of the day?...
2) The other thing I'd suggest is if you could add the option to put a : in the to/from fields.
Quoting NeoRio
Please disregard this request, Xaphod...the AntGUBO indicator will do just fine. Together with your Asian Session, the same effect can be achieved!
They are both good suggestion so I'll try to get them done soon.
  • #1,620
  • Apr 23, 2010 6:46am Apr 23, 2010 6:46am
Hi Xaphod,

Were u able to make any progress with this ? Thanks.




Quote:
Originally Posted by Xaphod http://cdn.forexfactory.com/images/buttons/viewpost.gif
I'll add it to my to do list. I'm not sure what the norm is for calculating the special cases. Ex: two highs after each other and high/low on same bar.


Excellent ! Thanks a lot Xaphod !





Quoting rwa
Xaphod,

Thank u very much for the latest updates to the indicator. Greatly appreciate what u're doing.. and especially for accommodating our requests.

There is another addition which will be useful.

Either an average value (pips) or a series of values of :

1. previous upswings
2. previous down swings.

This will give us a very good idea of whether it's relatively safe to take a signal to enter a trade.

If we're moving away (up) from the MA we'd pay close attention to the previous upswings to determine our profit targets and also to accurately...
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