Attachments: ICCE. Bemac's Fib. Reverse Engineered

ICCE. Bemac's Fib. Reverse Engineered

#1,241
Oct 19, 2010 5:38am Oct 19, 2010 5:38am

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

Quoting Pinbar

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Hey guys, I am a J16 PF member and Bemac kindly setup his chart for me to copy on my MT4, on the PF.
I also posted this in the PF but I don't think there are many people using this over there, probably got scared off by all the lines, as I did originally.
...

Ignored

yes, you are right with everything.
the most difficult task is to draw the box, imho.
take a look at the charts here posted by bemac.
i am mostly using the icce to set price targets.
i posted a chart here with the ym. you can see how beautiful the price reacts to this levels.

meine augen sind die sterne

#1,242
Oct 19, 2010 8:16am Oct 19, 2010 8:16am

namasteparis
| Joined Mar 2010 | Status: Trader | 49 Posts

Quoting namasteparis

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TP 1.3817 is approaching...
For those who are confortable with options, ICCE is nice to play with butterfly option set. I initiate an option (EURUSD option FED@FTA) set as soon as I see a range, and a nice ICCE box. Then whatever the PA is going up or down, I close the option set when PA reaches one of the two TP.
In this case, I'll close my option set when EURUSD will reach 1.38205 (forget about the 3,5 pips...). Money guaranteed.

Ignored

TP 1.3817 was touched, and i closed at 1.38205, as I said before

Well, I should say 'disco tonight' again! I think I'd better have a bottle there and a table booked for the year...

Now waiting for next box setup...
see u soon!

#1,243
Oct 19, 2010 8:18am Oct 19, 2010 8:18am

namasteparis
| Joined Mar 2010 | Status: Trader | 49 Posts

oups! I forgot to attach the picture. Here it is

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#1,244
Oct 19, 2010 8:29am Oct 19, 2010 8:29am

Bemac
Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts

Quoting aserbfx

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yes, you are right with everything.

Ignored

I'm not too sure how many PF Members utilize ICCE but I do know the Forum has slowed during my recent absence.

Quoting aserbfx

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the most difficult task is to draw the box, imho.

Ignored

Try changing the Chart Style to "Line on Close" to see if that helps See Compression.

Remember; The Box does not have to be at the Most Recent Compression Area to be Valid. Time & Usage will give you Your Own 'BOX' Wieghting Scale by osmosis.

Quoting aserbfx

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i am mostly using the icce to set price targets.

Ignored

And how are you finding your results of doing so aserbfx?

The USDCHF 4Hr I posted was in no way a Trade Rec. I used it Because it was halfway between ICCE Fib Lvls. That & you won't have to wait 2 weeks to see what occurs over the next few Bars.

As far as Time Frames go, I use it on all of them but I do not Change the TF of a Chart After I have applied it. Therefore My Typical Profile has One Pair with a number of Charts of Various TFs. Monthly, Weekly, Daily, 4Hr & even 15 Min but I normally only use the latter as an Order Timer. Each Chart has it's own individual ICCE plotted on it.

#1,245
Oct 19, 2010 9:23am Oct 19, 2010 9:23am

namasteparis
| Joined Mar 2010 | Status: Trader | 49 Posts

Personally, I always use 5mn TF to set the box. I setup a box only if the range has a 'nice sinusoide' appearance, and for several hours (4-5 at least). The upper and lower lines of the box are drawn with 'feeling', eliminating spikes, and according to the close past (I try to adjust the ICCE levels with the last previous PA movement, if possible). see post #1236.
As you can see in my previous post, I only use the horizontal levels, and not the diagonal ones. I simply fixed the fibo tool of my second platform with ICCE corresponding levels, and that's enough for me. The simpler, the better. And it works.

#1,246
Oct 19, 2010 9:43am Oct 19, 2010 9:43am

Pinbar
Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts

Ok, so I take it that we set the box up on consolidation and use the diagonal lines as Possible pivots where we want to see price action?

How about using the weekly consolidation then moving to the daily to trade it?

Also, I take it that this box is not automatic, it doesn't find the consolidation, we have to manually move it?

Is it only consolidation we set it on or will a SL to a SH work as in a normal fibo?

Sorry, I have so many questions.

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#1,247
Oct 19, 2010 9:46am Oct 19, 2010 9:46am

Pinbar
Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts

Quoting aserbfx

Disliked

yes, you are right with everything.
the most difficult task is to draw the box, imho.
take a look at the charts here posted by bemac.
i am mostly using the icce to set price targets.
i posted a chart here with the ym. you can see how beautiful the price reacts to this levels.

Ignored

Thanks for the info, I will look deeper into it.

Still busy with J16 putting in 12 hour days 7 days a week, my eyes are bleeding as Mike says.

Looks really interesting though.

EDIT: I just put the indicator on this chart and it seems to have found the consolidation area automatically, is this a fluke or will it find these areas of consolidation?

Thanks for all the work you put into this Bemac and folks.

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#1,248
Oct 19, 2010 10:10am Oct 19, 2010 10:10am

Bemac
Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts

Quoting Pinbar

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Thanks for the info, I will look deeper into it.

Still busy with J16 putting in 12 hour days 7 days a week, my eyes are bleeding as Mike says.

Looks really interesting though.

EDIT: I just put the indicator on this chart and it seems to have found the consolidation area automatically, is this a fluke or will it find these areas of consolidation?

Thanks for all the work you put into this Bemac and folks.

Ignored

Tyhe "Default" Starting point for Grid ICCE is...
LS = 35 Bars Ago.
RS = 5 Bars Ago
Top = Highest High , 35 Bars
Bot = Lowest Low , 35 Bars.

Simply to put some Separation between Box Params to allow easier Grab & Drop. Nothing more than that I'm afraid.

#1,249
Oct 19, 2010 10:13am Oct 19, 2010 10:13am

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

Quoting Bemac

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...

And how are you finding your results of doing so aserbfx?

...

Ignored

let a chart speak...

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meine augen sind die sterne

#1,250
Oct 19, 2010 10:28am Oct 19, 2010 10:28am

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

a/n
tp at the the 38.20%

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meine augen sind die sterne

#1,251
Oct 19, 2010 10:45am Oct 19, 2010 10:45am

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

enough said

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meine augen sind die sterne

#1,252
Oct 19, 2010 12:04pm Oct 19, 2010 12:04pm

Bemac
Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts

Quoting aserbfx

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enough said

Ignored

I can only imagine how good that makes You feel but I know ho good it makes Me feel.

How about the ones that Didn't Work tho. Do you have any examples of those that we can review?

B

#1,253
Oct 19, 2010 2:38pm Oct 19, 2010 2:38pm

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

Quoting Bemac

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I can only imagine how good that makes You feel but I know ho good it makes Me feel.

How about the ones that Didn't Work tho. Do you have any examples of those that we can review?

B

Ignored

i am not sure about the size of this box.
should the two long wicks at the bottom be included in the box?
any idea?

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meine augen sind die sterne

#1,254
Oct 20, 2010 1:24am Oct 20, 2010 1:24am

namasteparis
| Joined Mar 2010 | Status: Trader | 49 Posts

Quoting aserbfx

Disliked

i am not sure about the size of this box.
should the two long wicks at the bottom be included in the box?
any idea?

Ignored

aserbfx,
about the two spikes, I would not include them in the box, but rather find a box that matches the two spikes. For example, on EURUSD, the box could be set to 1.3747 and 1.3718: not only the two spikes touch the lower ICCE level , but it matches the past PA also (see red circles). TP would be then 1.3964 or 1.3501.

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#1,255
Oct 20, 2010 7:30am Oct 20, 2010 7:30am

Bemac
Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts

Quoting aserbfx

Disliked

i am not sure about the size of this box.
should the two long wicks at the bottom be included in the box?
any idea?

Ignored

Personally I do not include Wicks or Shadows in Box Params. I Include Close Prices Only.
Different Data Feed but this is what it would look like on mine.

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Also, {another Personal preferance} I try to use Params on Oscillators that reflect Market Session Timeframes.

Your MACD Standard Inputs of 12, 26, 9 on a 4Hr Chart are comparing
12 x 4 = 48Hrs (2.0 Days)
26 x 4 = 104Hrs (4.3 Days)
9 x 4 = 36Hrs (1.5 Days)

I use 12, 24, 6 (2, 4, 1 Days)

#1,256
Oct 20, 2010 7:38am Oct 20, 2010 7:38am

aserbfx
Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts

Quoting Bemac

Disliked

Personally I do not include Wicks or Shadows in Box Params. I Include Close Prices Only.
Different Data Feed but this is what it would look like on mine.
Attachment

Also, {another Personal preferance} I try to use Params on Oscillators that reflect Market Session Timeframes.

Your MACD Standard Inputs of 12, 26, 9 on a 4Hr Chart are comparing
12 x 4 = 48Hrs (2.0 Days)
26 x 4 = 104Hrs (4.3 Days)
9 x 4 = 36Hrs (1.5 Days)

I use 12, 24, 6 (2, 4, 1 Days)

Ignored