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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #68,921
  • Jul 16, 2010 8:47am Jul 16, 2010 8:47am
a good example to check the higher tf...
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meine augen sind die sterne
  • #68,922
  • Jul 16, 2010 8:50am Jul 16, 2010 8:50am
Does anyone know why these two different feeds give 2 different results?

They are both dailies charts and the daily closes are 5 est and the parameters are the same 12,26,9 with the same ema and close parameters.

I am stumped and have been racking my brain trying to figure it out.

Does anyone know why?

One feed is FXCM tradestation the other MT4....as you can see one shows divergence and the other does not ....so I'm in conflict to use these as a confluencing factor when making a trade.

Befuddled

Bill
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  • #68,923
  • Jul 16, 2010 9:00am Jul 16, 2010 9:00am
Quoting djmartymac
PS ibfx is the same as mb trading
Quoting adam777
....
MB Trading uses 5pm EST for standard, mini, & micro lots, so you get proper New York daily charts: http://qcharts.mbtrading.com/vbullet...read.php?p=291...
my MBT MT4 demo is on another PC.
can anyone de-confuse?
Thanks!
  • #68,924
  • Jul 16, 2010 9:04am Jul 16, 2010 9:04am
Quoting Atc
Does anyone know why these two different feeds give 2 different results?....
Hello Bill,
it actually looks the same. but u are using 2 types of MACD.
on your 1st chart above, it lacks the green histogram on your 2nd chart. your 1st chart's MACD is only showing the red & blue lines on your 2nd chart's MACD.

read my May25 post.

Quoting supremeChaos
....for the 'real' MACD (in your above post's 3 charts), it shows the 2 signal lines (the blue line & red dotted line) AND a histogram (green histogram, which shows the difference between the 2 signal lines)
for the 'usual' MACD, it only has the signal lines which take the form of a line (representing the red line in your MACD) & a histogram (representing the...
  • #68,925
  • Jul 16, 2010 9:10am Jul 16, 2010 9:10am
Quoting Shanetrader
Just thought i would post a web based free live charting link that you can use. Ideal if your at work (like me) and you want to keep up with whats happening during the day..u can use fibs on it..etc. http://www.fxstreet.com/rates-charts/live-charts/ Shane
Thanks a bunch ....looks great have to check it out further ...nice tool while I'm at work

BIll
  • #68,926
  • Jul 16, 2010 9:11am Jul 16, 2010 9:11am
Quoting Atc
Does anyone know why these two different feeds give 2 different results?

They are both dailies charts and the daily closes are 5 est and the parameters are the same 12,26,9 with the same ema and close parameters.

I am stumped and have been racking my brain trying to figure it out.

Does anyone know why?

One feed is FXCM tradestation the other MT4....as you can see one shows divergence and the other does not ....so I'm in conflict to use these as a confluencing factor when making a trade.

Befuddled

Bill
Hi Bill

I vaguely recalled reading that the MT4 MACD is calculated differently to the traditional way. So I had a quick look and there's some information in this thread, as well as some variations on the original MT4 MACD indicator

http://www.forexfactory.com/showthread.php?t=69409

J
  • #68,927
  • Jul 16, 2010 9:13am Jul 16, 2010 9:13am
USD/CAD popped.

Ah, well, there will be other opportunities and this is probably a good lesson to manage a trade on the TF we take the setup on.

Hope you guys creamed it.
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  • #68,928
  • Jul 16, 2010 9:14am Jul 16, 2010 9:14am
Yep, that's the thread, Jonnyisfound
  • #68,929
  • Jul 16, 2010 9:22am Jul 16, 2010 9:22am
This one looks good (for a long) to me for next week sometime...Above 1.3560, I'll be lookin to buy...
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  • #68,930
  • Jul 16, 2010 9:26am Jul 16, 2010 9:26am
Quoting Jonnyislost
Hi Bill

I vaguely recalled reading that the MT4 MACD is calculated differently to the traditional way. So I had a quick look and there's some information in this thread, as well as some variations on the original MT4 MACD indicator

http://www.forexfactory.com/showthread.php?t=69409

J
SC .....I should have been more specific ....I was talking about the Histogram differences only since I don't rely on the signal lines....

Jonny ...Thx for the thread....I will have to try to dig into it when I have time

You guys are the best!
  • #68,931
  • Jul 16, 2010 9:30am Jul 16, 2010 9:30am
Quoting Atc
SC .....I should have been more specific ....I was talking about the Histogram differences only since I don't rely on the signal lines....

Jonny ...Thx for the thread....I will have to try to dig into it when I have time

You guys are the best!
IBFX has a custom indicator that gives you the traditional MACD.....
  • #68,932
  • Jul 16, 2010 9:32am Jul 16, 2010 9:32am
Quoting Jonnyislost
Hi Bill

I vaguely recalled reading that the MT4 MACD is calculated differently to the traditional way. So I had a quick look and there's some information in this thread, as well as some variations on the original MT4 MACD indicator

http://www.forexfactory.com/showthread.php?t=69409

J

Yeah, I used the NEWMACD instead of the MT4 version and posted about that.
However, Mike suggested it is not a good idea and recommended I stay with the MT4 MACD.
  • #68,933
  • Jul 16, 2010 9:39am Jul 16, 2010 9:39am
well, there was a beautiful dbhlc, resp. beob on the ym. engulfing three bars.
unfortunately, i missed it. same like yesterday. fast 130 pips, so far.
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  • #68,934
  • Jul 16, 2010 9:45am Jul 16, 2010 9:45am
Quoting Shanetrader
Just thought i would post a web based free live charting link that you can use. Ideal if your at work (like me) and you want to keep up with whats happening during the day..u can use fibs on it..etc. http://www.fxstreet.com/rates-charts/live-charts/ Shane

Mike or one of the seniors would you mind commenting on the MT4 MACD?
  • #68,935
  • Jul 16, 2010 10:02am Jul 16, 2010 10:02am
Quoting Atc
Mike or one of the seniors would you mind commenting on the MT4 MACD?
hmm I never remember making any comment about that. Maybe the comment is if you want to have the same one as most of us here or J16.

But it isn't really going to make a huge difference in regards to divergence

Best
Mike
  • #68,936
  • Jul 16, 2010 10:11am Jul 16, 2010 10:11am
Fxcm shows divergence the other does not....all parameters equal....have you ever experienced this before or have you heard anyone on J16 discuss this?

It concerns me since when i took this trade the divergence on the FXCM contributed confluence to my setup but the MT4 did not.
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  • #68,937
  • Jul 16, 2010 10:23am Jul 16, 2010 10:23am
Quoting Atc
Fxcm shows divergence the other does not....all parameters equal....have you ever experienced this before or have you heard anyone on J16 discuss this?

It concerns me since when i took this trade the divergence on the FXCM contributed confluence to my setup but the MT4 did not.
here is my take, it has probably something either to do with data, or how one calculates the MACD off that data. Your FXCM looks super sensitive, I can't for the life of me figure out why divergence would show on the last part of that cahrt. Just looking at the way price is moving it just makes no sense to me visually. The MT4, makes sense in my brain and visually. Again I have no experience outside mt4. Either way with that divergence I can't see a reason to get in short?

Either way the FXCM one just looks off to me. Way to sensitive looking for the MACD I am used to. Visually why would price respond that quickly after just moving up. I would stick to MT4

Best
Mike
  • #68,938
  • Jul 16, 2010 10:24am Jul 16, 2010 10:24am
Quoting Atc
Fxcm shows divergence the other does not....all parameters equal....have you ever experienced this before or have you heard anyone on J16 discuss this?

It concerns me since when i took this trade the divergence on the FXCM contributed confluence to my setup but the MT4 did not.
ATC - You have two different indicators there. In your upper chart the histogram is displaying the signal line I believe. However, in your lower chart, the histogram is displaying the space between the MA and signal line. If you look at the red signal line on the lower chart you will see that it is a very similar shape to the histogram on the upper chart. When you look at it that way, they are actually very similar.

Hope that helps to clarify?
  • #68,939
  • Jul 16, 2010 10:24am Jul 16, 2010 10:24am
Quoting Atc
Fxcm shows divergence the other does not....all parameters equal....have you ever experienced this before or have you heard anyone on J16 discuss this?

It concerns me since when i took this trade the divergence on the FXCM contributed confluence to my setup but the MT4 did not.
PS if you look at the MA lines(instead of the histogram) as if they were filled in, those seem to be what matches up with MT4 and much more accurate. It almost seems as if you should go by that to line up with mt4 for whatever reason

Hope that helps
Mike
  • #68,940
  • Jul 16, 2010 10:25am Jul 16, 2010 10:25am
Quoting One day!
ATC - You have two different indicators there. In your upper chart the histogram is displaying the signal line I believe. However, in your lower chart, the histogram is displaying the space between the MA and signal line. If you look at the red signal line on the lower chart you will see that it is a very similar shape to the histogram on the upper chart. When you look at it that way, they are actually very similar.

Hope that helps to clarify?
hahah you beat me by a second, yep this looks like it is it
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