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Indicators development for T101's not very simple method

  • #1,721
  • May 1, 2010 2:04pm May 1, 2010 2:04pm
Don, right, I meant pairs not currencies. I did’t explain well. Sorry for misunderstanding.
For example the green bar show me that jpy’s pairs little by little getting weakening. You may see picture how the price of g/j go up after few bars and in next bars too. There are two rules for observing:
-lpy + usd moving in the same direction almost all the time, that’s way there no worries to BUY 14 baskets.
-jpy’s moving up/down little more strong than usd’s and other currencies.

Basic rules "JPY Basket Pulse":
-when the green bars going down then buy 14 pairs.
-when the red bars going up then sell 14 pairs

If you find mistakes please told me, because i understand all well for my self .


Quoting disbellj
Empori,
You say at top "this is buyjpy, but I'm buying all" and at bottom, you say "this is sell jpy, but I sell all". This is incorrect. At top, when JPY starts to go down, it would be "sell JPY", but "BuyAll" (buy basket). At bottom starts to go up, it would be "buy JPY", but "SellAll" (sell basket).

I have said previously that JPY and USD ran opposite directions, but I was wrong. When you buy the basket, you sell USD and JPY against others. When you sell the basket, you buy USD and JPY against others. USD and JPY go the same direction.

Along...
Attached Image (click to enlarge)
Click to Enlarge Name: jpy basket pulse pic.gif Size: 57 KB
  • #1,722
  • May 1, 2010 2:09pm May 1, 2010 2:09pm
Welcome
Quoting dr_zus
Thanks Empori! I want to try this next week.
  • #1,723
  • May 1, 2010 2:23pm May 1, 2010 2:23pm
Quoting Forexaccount
Looks good but before that long there was another signal and I don't know how you filtered that one

@ forexaccount

look at the chart explanation. We just finished a SHORT basket, look at my previous posts you will see my SHORT entry posts, from the red circle down with the red arrow. So we were waiting for a LONG basket and it never came until the BLUE circle.

What filter do I need again apart from PATIENCE, patience to have everything lined up before I pull the trigger, even if it take hours, I am OK with 1 or 2 baskets a week

kos
Attached Image (click to enlarge)
Click to Enlarge Name: see.gif Size: 17 KB
John 3:16 - From THIS love no power on earth can me sever.
  • #1,724
  • Edited 4:15pm May 1, 2010 3:30pm | Edited 4:15pm
Quoting Kosomolate

@ forexaccount

look at the chart explanation. We just finished a SHORT basket, look at my previous posts you will see my SHORT entry posts, from the red circle down with the red arrow. So we were waiting for a LONG basket and it never came until the BLUE circle.

What filter do I need again apart from PATIENCE, patience to have everything lined up before I pull the trigger, even if it take hours, I am OK with 1 or 2 baskets a week

kos

Well, I see another signal just before that one, candle closed above trendmagic and your indicator was showing crossing so I still do not know how you filtered that specific . May be was samir what gave you the entry and to tell you the truth I have seen many times Samir showing 1 direction even thought price is heading the other way.
  • #1,725
  • May 1, 2010 5:09pm May 1, 2010 5:09pm
nice, this is the way to go.

just can i note that Samir's "long strong" and "short strong" is "necessary condition", not "sufficient condition" for entries.

sometimes (very rare), you might see "long weak" and "short weak" during overall market ranging time, that suggest "Do not trade".

Quoting Kosomolate
[b]

look at the chart explanation. We just finished a SHORT basket, look at my previous posts you will see my SHORT entry posts, from the red circle down with the red arrow. So we were waiting for a LONG basket and it never came until the BLUE circle.

kos
  • #1,726
  • May 1, 2010 5:13pm May 1, 2010 5:13pm
a nice distraction,

Quoting brijon
http://my.jetscreenshot.com/demo/20100501-u9kc-217kb
this is showing basic principle of bsket indicater with scanner for time frame of currencys i use
  • #1,727
  • May 1, 2010 5:34pm May 1, 2010 5:34pm
Kos,

see, that is just a nice, simple-looking chart that gives clear instructions. no one needs my Semafor indicator to win. They could easily use your setup and win loads. You using Samir, at least in your case, seems to have kept you out of ranging. Nice. (But the truth is: About where you started the green box is about where the uptrend started, and I would aim to get in there if possible)

Regards,

Don


Quoting Kosomolate

@ forexaccount

look at the chart explanation. We just finished a SHORT basket, look at my previous posts you will see my SHORT entry posts, from the red circle down with the red arrow. So we were waiting for a LONG basket and it never came until the BLUE circle.

What filter do I need again apart from PATIENCE, patience to have everything lined up before I pull the trigger, even if it take hours, I am OK with 1 or 2 baskets a week

kos
  • #1,728
  • May 2, 2010 12:21am May 2, 2010 12:21am
Quoting disbellj
Empori,
I have said previously that JPY and USD ran opposite directions, but I was wrong. When you buy the basket, you sell USD and JPY against others. When you sell the basket, you buy USD and JPY against others. USD and JPY go the same direction.
Don
That means if USDJPY is trending along with other pairs, then Basket profit gets affected. If movement is due to mainly JPY, then it may not matter much since gbpjpy will make up other laggards. Otherwise, if only GBP is contributing, then Basket could become unpredictable.
It seems CHFJPY freflects the basket more closely as I found on the other forum. When there are enough indicators for the basket itself, following single pair may not matter much.
"Put all your efforts in becoming effortless"
  • #1,729
  • May 2, 2010 12:33am May 2, 2010 12:33am
For quite a long time ive been a great fan of 101s work and now im so happy to see so many talented people striving for perfection on this thread well done guys
For me the basket of currencyies now is an easy method of evaluating the trend and time of entry
In some cases even the future time within a very tight time frame
For some time ive been using plain charts for 100% hit rates no indicaters on 3 live brokers and 3 live brokers a mixture of 101s metrhod and additions
Ive noticed an opertunity to reduce drawdowns on basket trading and profit levels using plain charts information as it is relatively easy to get the actual bottom entrys and tops on plain charts
it appears to me the trading range of individual currencies tied into current price can be utalized very effective
as an example ive been discussing with currency exchange dealers here in Europe the price and spread they are using the spread stays tight only the price changes
eg aud swt aud buy 1.64. sell 1.77 12 spread 120 pips trading range
so depending on the currency the spread stays reativly constant for each currency just outside the daily average trading range

now for some time ive been able to use this trading range double tops double bottoms max points on a plain chart for 100% hit rate IVE PUBLISHED SCREEN SNAP SHOTS MANY TIMES as I figured currency exchange dealers make lots of money doing the same these points are the real money flows limit orders from these profession AL TRADERS
so its an idea one could incorporate these in profit take levels and drawdowns in the basket trading for more efficient use of the basket and lower the drawdowns to very low levels
after all its realitivly easy to do on single currencys
basket entry and exist is now quite easy to do
its only controlling risk and reward to very predictable levels and gain max effisciency on profit on each currency trade
I may be wrong but its my thoughts on were im currently investigating maybe you are there already DOING THIS im only adding a little whatif
Best regards keep up the great work from BRIAN
  • #1,730
  • May 2, 2010 1:02am May 2, 2010 1:02am
great to see you forget what country your from?

im in europe buying up realestate this trip so far ive bought a couple of apartments and broad acres for resubdivision ive ben publishing my live trades on another thread for beginners have you published your results love to see them
by memory you were quite a talanted programer

id love to see your work and hopefully your trades on the basket

by the way a couple of guys we know are coming here next year to go skying and will be staying in one of our appartments here

i picked up one trader lasyt year in KRAKOW AND WENT BY CAB TO ZAKOPANE

looks like in the future we will be spending 6 months here and 6 months back in Adelaide

trading has been fantastic but im retired now just a hobby a little extra pocket money

great to catch up with you remenber stumpy hes retired too making heaps on the forex great guy hes in adelaide but like me we are enjoying the best from trading the forex

keep up the great work charvo
  • #1,731
  • May 2, 2010 1:05am May 2, 2010 1:05am
Quoting disbellj
Kos,

see, that is just a nice, simple-looking chart that gives clear instructions. no one needs my Semafor indicator to win. They could easily use your setup and win loads. You using Samir, at least in your case, seems to have kept you out of ranging. Nice. (But the truth is: About where you started the green box is about where the uptrend started, and I would aim to get in there if possible)

Regards, Don
Yes you are right, that is exactly where the SAMIR DAILY trend indicator that was edited by someone in the some posts back changed to LONG STRONG but I was not sure then I had to wait for SAMIR WEEKLY trend to change to LONG before entry.

If I had followed the SAMIR DAILY trend direction I would have entered from the start of the green box.
Quote
no one needs my Semafor indicator to win. They could easily use your setup and win loads.

where was that in my post??? if you finish with it and you consider it good for us all, post it and lets use it like the other ones. I use your T101_dashboard_don even when you said its not good. I find a good use for it, at least to monitor when the IDEAL set up happens and its been doing that for me.

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #1,732
  • May 2, 2010 1:46am May 2, 2010 1:46am
Quoting Kosomolate

@ forexaccount

look at the chart explanation. We just finished a SHORT basket, look at my previous posts you will see my SHORT entry posts, from the red circle down with the red arrow. So we were waiting for a LONG basket and it never came until the BLUE circle.

What filter do I need again apart from PATIENCE, patience to have everything lined up before I pull the trigger, even if it take hours, I am OK with 1 or 2 baskets a week

kos
Kos,

what pair and timeframe is the chart in the image you posted?
cheers.
  • #1,733
  • May 2, 2010 6:56am May 2, 2010 6:56am
Quoting pgd
Kos,

what pair and timeframe is the chart in the image you posted?
cheers.
pgd

GBPJPY H1

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #1,734
  • Edited 7:27am May 2, 2010 7:10am | Edited 7:27am
Kos,

As far as me finished with it, I'm done with it. I did 2 indicators, so one revision. The first time I used Close prices, and the second I more correctly used Highs and Lows of the basket.

I just replaced:
High[Highest(NULL,0,MODE_HIGH,ExtDepth,shift)];
and:
Low[Lowest(NULL,0,MODE_LOW,ExtDepth,shift)];
with:
Highs[ArrayMaximum(Highs,ExtDepth,shift)];
and:
Lows[ArrayMinimum(Lows,ExtDepth,shift)];

... and fixed Point to use the first Sell pair's point (will be EURUSD or GBPUSD depending on if using ibfx pairs or not). Also, in same line where Point is, you have High I replaced with buffer Highs, or Low I replaced with buffer Lows.

I just had to figure out my Highs and Lows buffers for T101, and then change the code like I stated above. The indicator is what it is. It will become no better. But it's not acting like regular Semafors are. If I did give it, I would not be held responsible for anyone using it and losing money. I'm not sure I want to give it. Where's everybody else giving? I think I've given enough for anyone to use T101 to be profitable (3 complex indicators that all agree with each other numerically yet give users different viewpoints of the same data? Plus a couple changes to zz's indicators, which I don't recommend, but you still use to make money), even before Semafors got mentioned here.

FYI I've made my own Orest TF indi, but haven't posted it (I found where he minused spread instead of adding it, which would be correct), but people make money with Orest's TF EA as he posted it. I've made at least 5 indicators this last week, none will most likely be posted here. My question is: Instead of hanging on my posts and indicators, why aren't more people like you and use what's available to come up with something to profit with? We all know there's profit to be had (banana's and your posts show methods anyone could use, but do they?), but how many are waiting for someone to basically do all the work for them and not give anything?

To these people, I say: Use what has already been given. And if you don't understand how to, read and experiment until you understand.

I would work privately with Orest or zz to come up with something better if they wanted to. But frankly, I like to give to those who also like to give. And frankly, there's not that many here that are giving. How many have actually read T101 threads?

If someone could post an offline chart that worked, we could use a multitude of indicators that would help (without me coding each one separately and maybe them not working the same as the originals). In fact, if someone could post offline charts that updated correctly, I wouldn't need any indicators. If you know how to trade price action, you don't need any indicators. It's all the same, no matter what chart or timeframe. But candles is what I use, because they tell me what I need to know. The closest things we have to true candles is basketbars. And even though I give kudos to smjones for that indicator, it's not as good as a real candle chart to me although it's close. Indicators do help when trying to automate a method or give alerts/emails though.

Regards,

Don


Quoting Kosomolate
Yes you are right, that is exactly where the SAMIR DAILY trend indicator that was edited by someone in the some posts back changed to LONG STRONG but I was not sure then I had to wait for SAMIR WEEKLY trend to change to LONG before entry.

If I had followed the SAMIR DAILY trend direction I would have entered from the start of the green box.


where was that in my post??? if you finish with it and you consider it good for us all, post it and lets use it like the other ones. I use your T101_dashboard_don even when you said its not good....
  • #1,735
  • May 2, 2010 7:55am May 2, 2010 7:55am
thank you Brian, you still remember me, just i'm a lousy programmer

now i don't program too much since that it is not the key to success for me now, especially for this basket method.

i hope someday i can develop myself into a man with some of your characteristics.

by the way, i watched some of your recent videos, however, not quite mastering the overall/summary of how you trading now. are there some posts well summarize/describe your trading procedure? especially on this basket method? i see many variations of your own design, that is normal and appropriate. this T101 basket is like x-ray photo to the market, different doctor has different application way to it.

Quoting brijon
great to see you forget what country your from?

im in europe buying up realestate this trip so far ive bought a couple of apartments and broad acres for resubdivision ive ben publishing my live trades on another thread for beginners have you published your results love to see them
by memory you were quite a talanted programer

id love to see your work and hopefully your trades on the basket

keep up the great work charvo
  • #1,736
  • May 2, 2010 8:30am May 2, 2010 8:30am
Quoting disbellj
If someone could post an offline chart that worked, we could use a multitude of indicators that would help (without me coding each one separately and maybe them not working the same as the originals). In fact, if someone could post offline charts that updated correctly, I wouldn't need any indicators. If you know how to trade price action, you don't need any indicators. It's all the same, no matter what chart or timeframe. But candles is what I use, because they tell me what I need to know. The closest things we have to true candles is basketbars....
Almost there my friend. I need to do some live testing once the market opens. We'll get you as close as possible to a basket "real candle chart" in MT4.

The code is complex because we need to use M1 data to construct the candles for all timeframes. Why? Because, M1 is the lowest level of granularity we have in MT4. We don't have historical tick data, so we want to use the lowest level we have - M1.

With all due respect to the basketbars indicator and its author, it is really not very accurate at all, especially on lower timeframes. But, that does not mean it can't be useful. It appears many folks are using it for profitable trades. To each his own I guess.

The complexity of this script has led to many challenges:

1) System resources - since this script will update live we need to try to minimize the strain on the system while still providing accurate and timely data.

2) Multiple timeframes - we need to update 6 different timeframes with each iteration of the script.

3) Missing candles - since we are using 14 pairs in the basket, there are bound to be pairs with missing bars. Again, for an accurate representation of the basket candles, we need to handle these missing bars appropriately.

4) Error handling - there are many complex steps in this script. Proper error handling is even more important than "regular" indicators and scripts.

5) Environmental factors - we need to properly handle account disconnects, internet connection problems, broker problems, etc. When the connection goes down and comes back up, the script needs to be smart enough to pick right up where it left off to provide accurate data. It needs to make sure the data during the downtime is accounted for.

6) Multiple brokers - I'm trying to make the script flexible enough to allow for many different brokers (from many different timezones). We'll see if I have enough time for this.

7) Script information - need some type of visual display to the user so they know the status of the script.

8) Basket pairs - the script should be flexible enough to allow the user to specify any combination of pairs for the basket.

The code for most of this is done...I just need some time to test in live market conditions. As soon as it appears to be working ok, I'll send you and a few others a copy to help test. After that, we'll see about publishing for everyone.

Thanks for your patience...zznbrm
  • #1,737
  • May 2, 2010 9:40am May 2, 2010 9:40am
Hi, ZZ, your script is bound to be a comprehensive challenging task. Wish you smooth coding!

For the basketbars, are you referring to that SMJones's basketbar (hazelj80 mentioned too that he used it?) ? it has green square boot or red square hat for each bar to suggest the direction of market, is it?

ironically, i just found that it may be a little use to me this week, now that you found it is not accurate.

btw, been using ur sessiontime2 indicator, working flawlessly to me. many thanks.

Quoting zznbrm

With all due respect to the basketbars indicator and its author, it is really not very accurate at all, especially on lower timeframes. But, that does not mean it can't be useful. It appears many folks are using it for profitable trades. To each his own I guess.

Thanks for your patience...zznbrm
  • #1,738
  • May 2, 2010 10:03am May 2, 2010 10:03am
zz,

Thank you so much my friend. Yes, you are taking EVERYTHING into account. So few people realize how much is involved in just regular coding, let alone a basket. It's much harder with a basket. Like I've said myself, I have made multiple EAs for T101 and not a one is consistent. It's frustrating. Yet I've made hundreds of EAs for single-pair methods that all were consistent (yet they lacked good strategy). Now I have good strategies (multiple ones), and not consistent EAs. I don't even know how to account for all the things you listed, which is why eventually if an EA is made, I'll have to hire someone - a real coder - to fix my code to make it right and add stuff that's needed like you listed.

I would add my code here for offline chart, but it'll probably just confuse. I got it writing history of Jan. 1, 1970 and 0 for prices and volume. Not too good, but at least I got a history, yay!

As far as smjones' indicator, I'm using 1.5, which is an older one. for all ai know he made fixes in the later ones that I don't use. But I do see what you see - it's inconsistent sometimes with the way it SHOULD draw the colored dots and what it actually does. I've looked at the code, and even though it's a little backwards, it's consistently backwards which makes it OK LOL. It should work, and understanding what the code says let's me "see" a dot even before the dot gets there. I don't have to wait until the open when sometimes I can clearly see that the close is going to be in top 1/3 or bottom 1/3 of bar. And I know that the color should stay the same until I get an opposite signal (if red, closing top 1/3 of bar will change to green; if green, closing bottom 1/3 of bar will change to red). Does it always work like it should? No. I've seen this too. But it's still helpful (just not as helpful as knowing the rules, so even if the indicator is not right, you know what it should be).

Regards,

Don


Quoting zznbrm
Almost there my friend. I need to do some live testing once the market opens. We'll get you as close as possible to a basket "real candle chart" in MT4.

The code is complex because we need to use M1 data to construct the candles for all timeframes. Why? Because, M1 is the lowest level of granularity we have in MT4. We don't have historical tick data, so we want to use the lowest level we have - M1.

With all due respect to the basketbars indicator and its author, it is really not very accurate at all, especially on lower timeframes. But,...
  • #1,739
  • May 2, 2010 11:07am May 2, 2010 11:07am
Quoting charvo
thank you Brian, you still remember me, just i'm a lousy programmer

now i don't program too much since that it is not the key to success for me now, especially for this basket method.

i hope someday i can develop myself into a man with some of your characteristics.

by the way, i watched some of your recent videos, however, not quite mastering the overall/summary of how you trading now. are there some posts well summarize/describe your trading procedure? especially on this basket method? i see many variations of your own design,...
charvo in the thread advanced forex trading i show how to trade simple charts with screen snapshots
, from what ive read on this thread im doing simular to what you all are doing except in basket trading i place trades manualy based on the basket trend changing i look at 101s anchores for first trades each currencys on a plain chart ajusting profit to the trading range as on a plain chart its relativly very accurate to enter a perfect price with limit orders if you know the basket trend is on

for me its not so complicated basket trading using ofline basket and a few indicaters as per my posting

none of it is realy my ideas re basket indicater as you all have simular
methods and aproaches i think

but i tend to do this in a mechanic entry rather than an ea which i feel more comfertable with and think visualy entrys with limit orders give me greater flexibilty ( old fashion trader ) not as clever as you guys

i still find plain charts one can pin point entry and exit prices within a few pips if one knows the trend 101s basic method does that brilliantly

i see i am thats idea of chfjpy is worth looking at re the basket next week ill look into it

the only difference for me is always ones attitude and expectations
as to the difference between success and failure of forex traders

so its great to see so many positive traders on this thread

god bless you guys from Brian
  • #1,740
  • May 2, 2010 2:39pm May 2, 2010 2:39pm
Quoting charvo
Hi, ZZ, your script is bound to be a comprehensive challenging task. Wish you smooth coding!

For the basketbars, are you referring to that SMJones's basketbar (hazelj80 mentioned too that he used it?) ? it has green square boot or red square hat for each bar to suggest the direction of market, is it?

ironically, i just found that it may be a little use to me this week, now that you found it is not accurate.

btw, been using ur sessiontime2 indicator, working flawlessly to me. many thanks.

yes, basketbars is not accurate on lower TF's but then again, if you really know about pinbars, you would not try to trade them on lower TF's at all. like i said, you'd be shooting yourself in the foot and the big guys dont trade lower than H4. neither do I

now, having said that, all you have to do is look at the JPY pairs and see how accurate it is on h4. if you get a signal saying "possible short or long" then check the h4 JPY pairs and see if they have pinbars. most likely they do and you'll see the areas of confluence. pretty straight forward. the more pairs that have pinbars, the more powerful the basket trade becomes. use some other confirmation and you'd probably not loose at all.
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