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Attachments: Vegas Wealth Builder - Part I
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Vegas Wealth Builder - Part I

  • #61
  • Jan 21, 2006 9:48am Jan 21, 2006 9:48am
Quoting Khalid Shahzad
Hi All,
I think this MQL4 indicator will help recognizing candlesticks pattern and will be useful here.
Thank you,
Khalid
This indicator displays to many fakes
  • #62
  • Edited 12:20pm Jan 21, 2006 10:49am | Edited 12:20pm
Vegas; Thank you for answering my prior post. This time i took the idea that the VWB DAILY was the primary "Tunnel" we were trading off of, and then tweaked the MA/FIBOs on a smaller period chart, in this case the 4 hour chart.

I did another one of those FIBO correlation studies on the charts i've been useing, where you can overlay a higher period's indicators on the current period's chart. In this case i took the VWB Daily 28emaFIBOs and overlaid them on a Four Hour chart. I found that a 144ema closely (within 4 pips each FIBO/MA) matched the Daily's 28emaFIBOs/MA. So i'm thinking this might be an alternate set up for looking at the 4hr chart for price action/candle formations near the longer period's (the VWB Daily chart) for confirmation of entry?? and the possibility of a tighter stop loss looking on the 4hr for such things as tweazer tops/bottoms, evening/morning star formations etc at the FIBO's that now correlate with the VWB Daily??

Worthwhile study? Am i loosing it? Here is the screen shot of my chart MA correlation study:

http://www.accrete.com/fx_posts/J13G...28vwbDaily.png


Quoting vegas
...On this wheel the number 169 is important as well as 13. 13 squared also happens to be 169. This is the basis of the 169 ema in the 1 hour. 145 is also an important number on the wheel, and since 12 [a fib number] squared = 144 [a fib number], this is close enough for me to use. This is basis for 144 ema.

Regards the daily, there are 6 four hour time periods in a day, thus 28*6= 168. Since it is not possible to do daily charts in decimal days, therefore 28 ema. 24 days * 6 [the number of 4 hour periods in a day] = 144. Therefore the other ema on the daily is 24. It is a tie-in to the 1 hour and the 4 hour.
A secondary Q to all this is; Would you (in general) look at the One or Four hour formations/setups to better place your entries while trading the Daily charts? 4hr charts would keep the 6:1 ratio going? Does that make sense?
  • #63
  • Jan 22, 2006 12:25am Jan 22, 2006 12:25am
I made a very simple error in the VT code I posted which will affect
any currency pair with a price format of ###.## {Trades to two{2} decimal places}.

The bands are way too tight, here are instructions on how to edit the code.
{relax, it's very simple}

1) Attach Model # 1 to any chart.
2) Right Click on any one of the Indicator Lines.
3) Left Click "Edit Indicator" {Opens a New Window with the Code}
4) At the top of the code, there is a definition for "Pipfactor".
The line reads as follows
Pipfactor:=IF(C>500,0.25,IF(C<50 And C>10,0.01,0.0001));

The Line SHOULD READ as follows...
Pipfactor:= IF(C>500,0.25,IF(C<500 And C>10,0.01,0.0001));
{ That's it, Just add a zero {0} to the 50 to make it 500.}

5) Left Click Save {the floppy disk Icon}
6) Close Edit Window.
7) Best to remove & re-attach indicator to chart to ensure it is updated.

Repeat for Models 2, 3, & 4.

Rather than having multple Versions kicking around by reposting for a one click fix, please modify the code.

B
  • #64
  • Jan 22, 2006 11:22am Jan 22, 2006 11:22am
Hi Bemac -

For your VT code, model 2: C>500,0.25,IF(C<50 And C>10,0.01,0.0001)
Would the currencies based in JPY as follows: C>500,0.25,IF(C<50 And C>10,0.1,0.01)?

Just wondering - model 2 is funky on the pairs based in JPY.

Thank you
  • #65
  • Jan 22, 2006 11:29am Jan 22, 2006 11:29am
Quoting pip_hunter
Hi Bemac -

For your VT code, model 2: C>500,0.25,IF(C<50 And C>10,0.01,0.0001)
Would the currencies based in JPY as follows: C>500,0.25,IF(C<50 And C>10,0.1,0.01)?

Just wondering - model 2 is funky on the pairs based in JPY.

Thank you
Hi Bre____?
This is a cut/paste from post # 63 {2 above yours}
Post # 63 has more detail.

The Line SHOULD READ as follows...
Pipfactor:= IF(C>500,0.25,IF(C<500 And C>10,0.01,0.0001));
{ That's it, Just add a zero {0} to the 50 to make it 500.}
  • #66
  • Jan 22, 2006 4:51pm Jan 22, 2006 4:51pm
Did anyone apply the new dialy method with the old 4hr method? I am having trouble understanding how to incorporate it

- S Power
  • #67
  • Edited Jan 23, 2006 1:09pm Jan 22, 2006 5:11pm | Edited Jan 23, 2006 1:09pm
In the Spirit of Vegas note in his original VWB document that experimentation on the theme was encouraged, i share the following.

Here is a snip from a post i have over in the PF on the subject of taking the VWB method on the Daily chart and correlating the Daily FIB levels over to at four hour time frame.

---snip:

Below is an image of a standard risk model # 1 on a EUR/USD 4 hour chart. All settings are standard "Knife" settings except the zanny colors ; - ) (the Knife is a mod of the 4hr method)

http://www.accrete.com/fx_posts/J13G...tock_knife.PNG


Below is an image of the same EUR/USD 4 hour chart this time with a 144ema and FIBOs that corresopond to the VWB Daily chart's 28ema FIBOs with a setting of risk model # 1 (the yellow dotted lines are 34 & 55 emas that i like to place on my 4hr charts):

http://www.accrete.com/fx_posts/J13G...44emaOn4hr.PNG

Below is an image of a standard VWB Daily chart set at risk model # 1 :

http://www.accrete.com/fx_posts/J13G...k_VWBDaily.PNG

You can see there are correlations between the lower two charts that might assist in choosing entries or stop-loss levels.

----end.

---another snip from an additional post:

Here is a screen shot on the three charts mentioned above. The left most is the stock "Knife" 4hr, middle is the 4hr VWB 4 Hour Mod, and the right most is the stock VWB Currency Daily. I see the VWB 4hr mod as just another indicator that may show some correlations/convergences...is it another feather in our caps? Time will tell.

For myself, eye see it as a mediator/communicator between the Short Time Frame 4 hour stock "Knife"/Vegas 4hr method and the Larger Time Frame Vegas WB Currency Daily chart. (LOL just saying the 4hr chart is STF makes me laugh...6 months ago a LTF chart was a 60min in my training!!). The 4hr "mod" is not a replacement of either, and as stated above, it is just another indicator to point out possible convergences between the two time frames that may allow for better entries and tighter stops, yet gaining possible larger pip limits as i can set my profit target off the VWB Currency Daily chart's FIBO lines/ extensions. And since i am not a "mechanical" trader, this additional information combined with old/new school technical analysis based on convergence/formations/price action may assist my trading style.

One last thought on the last sentece above about my not being a "mechanical trader". When i first heppened upon the Vegas 4 hour method las summer i was not looking at something that would get me into trades "blindly". What i was amazed at (and still am) is a FIBO channel's "magnatism". So for me the FIBO Tunnel was all about technical analysis and not some robotic-software thingy that would tirgger trades while i enjoyed a walk with my wife on the soggy Oregon coast. LOL.

I'm a non-mechanical, discresionary trader at this point in the game. I like to get my hands dirty when i trade, i like to play in the mud ; - ) Playing is a big draw of trading for my personality. I realized i need to take responsibility for my future and trading is a good fit...but if i give up my entries/exits to a purely mechanical system...have i attained my goal of "taking responsibility"? Hummm. maybe that is ripe for a comment from the TradingPsychMaster FifiTrader?

Happy Dooooodlin'
Thom

P.S. for the record, my tweak w/the 144sma on the 4hr tunnel is just another "indicator"...i don't trade off it.

http://www.accrete.com/fx_posts/J13G...ogethernow.PNG

For those who wish to check out the 4hr mods on the original VWB Daily indicator save these into your mt4 indicators folder:

Vegas VWB 4hrBase.mq4 this is the 34/55/89 "base" model w/Yellow lines (place on chart first)
Vegas VWB 4hr.mq4 this is the overlay model for Risk 1-4 (then place this and change risk model to your choosing)
  • #68
  • Jan 22, 2006 6:01pm Jan 22, 2006 6:01pm
Hi Thom,

It would seem we are both intrigued by plotting the DTM on faster time frames.

This is a cut/paste from my post to VTC forum a few hours ago {see post 2 above yours}.

"The Indicator will plot a "CLOSE APPROXIMATION" of the Daily Tunnel Method on charts of lower timeframes.
{the average of 576 closes on a 1 hour chart need not be the same as the average of 24 closes on a Daily chart. [24 hrs in one day, 24hrs*24ma=576]}"

You may have already noticed this as it is shown in your ScrShts;

Daily 24MA =1.2031.
4 Hour 144 MA = 1.2020.

Please understand that this is only a point of information and that I agree with you on looking at it in shorter timeframes. It helps me to easier visualize ~ how much time till a critcal level. That plus I don't think anyone is going to pull the trigger merely based on price touching a fib line. At least not if they are trading DTM.

It would be interesting to get some feedback on this idea though.

I wish I understood mql more. {a lot more}
  • #69
  • Jan 22, 2006 10:06pm Jan 22, 2006 10:06pm
Quoting Bemac
...Please understand that this is only a point of information and that I agree with you on looking at it in shorter timeframes. It helps me to easier visualize ~ how much time till a critcal level. That plus I don't think anyone is going to pull the trigger merely based on price touching a fib line. At least not if they are trading DTM...
Hi B. I too hope that no one "is going to pull the trigger merely based on price touching a fib line". As you would agree, the FIBOs are there to give a heads up and a few pips diff between is no biggie since the goal is dozens or even hundreds of pips for a take-profit target.

Here are some links to mt4 tutorials that were posted by someone in FF:

lessons 1-15

http://www.forex-tsd.com/lessons/671...-part-4-a.html

http://www.forex-tsd.com/metatrader-...st-script.html

http://www.forex-tsd.com/metatrader-...templates.html
  • #70
  • Jan 22, 2006 11:07pm Jan 22, 2006 11:07pm
Quoting accrete
Here are some links to mt4 tutorials that were posted by someone in FF:

lessons 1-15

http://www.forex-tsd.com/lessons/671...-part-4-a.html

http://www.forex-tsd.com/metatrader-...st-script.html

http://www.forex-tsd.com/metatrader-...templates.html
Thanks.

I already had lessons 1-15 dnlded and started to read through them. Gotta find more time for that. I wasn't aware of 16-18 though. So again.

Thanks accrete

B
  • #71
  • Jan 22, 2006 11:28pm Jan 22, 2006 11:28pm
Hi Accrete, and thanks for your reply.

I guess what I am trying to say is I tried trading the daily bar by bar as a test and got many fake candlestick paterns resulting in losses. I traded exactly by the rules, so when you get to loosing trades wait for the price to return around to the tunnel.

So at that point I decided to take it back on my foundation, and am thinking, wait, with the 4Hr Method, if we get a positive slope on a bullish week momentum calculation, yet we see a reveral on the daily, we got a problem. And also, how do you determine the reversal. Do you wait the following day for close of the next bar for confirmation of candlestick patterns as suggested by most proffesionals and books? (In other words, wait for confirmation) or do you go ahead and anticipate the confirmation by the turn of the 4hr hour, disregarding the bullish momentum.

At this point it just becomes so confusing. Im willing to listen though!

Thanks.

-S Power
  • #72
  • Jan 23, 2006 12:06am Jan 23, 2006 12:06am
Hi xsP, I'm to new at the daily candles to have any words of wisdom based on personal experience. What i do know is nearly every profitable trader i've met trades them (and often include looking at the 4hr for entries/SL).

I've been facinated w/the FIBO channels since i learned of Fibonacci sequence in trading so i was naturaly drawn to the VWB daily and the older V4hr chart layouts. As stated, i'm too much of a hands-on guy to by to "systemized", I like doing my homework and such.

Tonights break out of the EUR/USD from consolidation was a good example of doing homework and being ready...although it was such a classic no-brainer of a move that any chimp with his hands on a mouse could have gotten in.

Yum, yum. Bannana



http://www.accrete.com/fx_posts/J13G...01-224hr_d.PNG
  • #73
  • Jan 23, 2006 12:51pm Jan 23, 2006 12:51pm
  •  MikeG
  • | Joined Aug 2005 | Status: Empowered to Profit by James16.com | 59 Posts
I am totally lost, and after googling it to death, I still can't find out how to get MetaTrader4 to display charts of end-of-day S&P 500 Index futures data.

Does anyone know how to do this?

Thanks!

Michele
I am an extremely satisfied customer of the James16 Group!!!
  • #74
  • Jan 23, 2006 1:11pm Jan 23, 2006 1:11pm
Read the VWB document and have daily charts setup on the GBP, EUR and CHF. I have two questions. Using MT4 and Vegas currency daily indicators.

I'm having trouble understanding the relationship between the 1H and Daily charts ( As to what to look for, etc ). Also, I assume that the setup on the hourly charts are the the daily ( ie. GBP/USD having 5 fibs using models #1 and #3 )

System thus far looks amazingly accurate on the daily charts !

Thanks,
Ronald





Quoting james275
Let me add my thanks as well Vegas for all your help! I especially have enjoyed the 4 hr model and am really connecting.

AFter going through VWB and looking at the charts and where you are attempting to get in, i have a question. Looking at Chart no. 2 (EUR/USD from Feb 11 to july 20 2005. It seems that you arn't able to participate in most of the move. It reminds me a bit of when i kept trying to find the bottom over and over and missing the major trend. If you fail to get in, do you continue in the main trend direction with a new entry or do you patiently stay out of the market until the next reversal signal?

Is missing some of this trend the "price" of folowing this system?


Thanks again Vegas!
  • #75
  • Jan 23, 2006 1:41pm Jan 23, 2006 1:41pm
Quoting MikeG
I am totally lost, and after googling it to death, I still can't find out how to get MetaTrader4 to display charts of end-of-day S&P 500 Index futures data.

Does anyone know how to do this?
I think it depends on the broker. Interbank doesn't have it, but Strategybuilderfx and Northfinace do. Just download the copy of metatrader from their sites to get access to their feeds.
  • #76
  • Jan 23, 2006 11:38pm Jan 23, 2006 11:38pm
Quoting diallist
You need to insert the indicator twice. Then right click on the chart and select "Indicators List". You then see both copies of the indicator listed. Set one of them to model #1 and set the other to model #2.

Dial
Ok guys im a newbie with a newbie question but here goes:
I just installed mt4 so I could try Vega's Wealth Builder but I cant for the life of me figure out how to import his files into mt4 I did find this earlier post about the subject but was hoping someone could do a little importing 101 w/mt4 for us dummies
Shootist - Have Pip Shooters Will Travel
  • #77
  • Jan 24, 2006 12:07am Jan 24, 2006 12:07am
Quoting Shootist
Ok guys im a newbie with a newbie question but here goes:
I just installed mt4 so I could try Vega's Wealth Builder but I cant for the life of me figure out how to import his files into mt4 I did find this earlier post about the subject but was hoping someone could do a little importing 101 w/mt4 for us dummies
I am assuming you have a file with a .mq4 extension. If so, then to install it simply copy the .mq4 file to the following folder:

C:\Program Files\MetaTrader 4\experts\indicators

Close MetaTrader (if it's open) and start it back up again.

On the menu bar click "Insert" and then indicators and then custom. You should see your new indicator in the list that appears. Click it to include it on your chart.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #78
  • Jan 24, 2006 12:52am Jan 24, 2006 12:52am
...
Attached Image
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #79
  • Jan 24, 2006 2:12am Jan 24, 2006 2:12am
Has anyone tried combining other indicators or devoloped one to indicate reversal,using the VWB?I've looked at RSI and Stochastic but,RSI misses to much and the Stoch is way to slow.
  • #80
  • Jan 24, 2006 2:32am Jan 24, 2006 2:32am
Quoting xspowerx
This indicator displays to many fakes
You need to filter them out. Don't use all option available, use the one which you understand best.
Khalid
Resource pooling is the only solution. I love positive pips.
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