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  • #1,101
  • Jan 25, 2011 5:06pm Jan 25, 2011 5:06pm
Quoting dryclean
Wait for arrow . . check roy, multi RSI and trade ADR color
Hey Dryclean (or anyone who knows)

Is the ADR green = trade , red = no trade accurate for the 15 minute time frame?

I believe (correct me if I am wrong) that what it does is measure the last 5 bars movement compared to the last 25 bars movement
(assuming your settings are 5 and 25)

It will turn green if the last 5 bars are bigger than the last 25

5 bars on a 15 minute time frame would over an hour (75 minutes)

....by that time a lot could have happend.

It was my understanding that the ADR is more accurate on the 5 minute time frame??

I do like trading on the 15 minute time frame, and I do have an ADR indicator but only to tell me what the daily range has been and if there is room for a move.

PGPB
  • #1,102
  • Jan 25, 2011 8:50pm Jan 25, 2011 8:50pm
Quoting pgpb
Hey Dryclean (or anyone who knows)

Is the ADR green = trade , red = no trade accurate for the 15 minute time frame?

I believe (correct me if I am wrong) that what it does is measure the last 5 bars movement compared to the last 25 bars movement
(assuming your settings are 5 and 25)

It will turn green if the last 5 bars are bigger than the last 25

5 bars on a 15 minute time frame would over an hour (75 minutes)

....by that time a lot could have happend.

It was my understanding that the ADR is more accurate on the 5 minute time frame??...
Not sure but good question if 5 min is 5-25 maybe 15 tf shoudl be 3-15 I've searched aroiund on FF and didn't see anything about it that mattered to what we are saying here
  • #1,103
  • Jan 26, 2011 12:47am Jan 26, 2011 12:47am
Quoting pgpb
Hey Dryclean (or anyone who knows)

Is the ADR green = trade , red = no trade accurate for the 15 minute time frame?

I believe (correct me if I am wrong) that what it does is measure the last 5 bars movement compared to the last 25 bars movement
(assuming your settings are 5 and 25)

It will turn green if the last 5 bars are bigger than the last 25

5 bars on a 15 minute time frame would over an hour (75 minutes)

....by that time a lot could have happend.

It was my understanding that the ADR is more accurate on the 5 minute time frame??...
Hi PGPB,

If you spot a possible trade setup on 15M , you can change TF to 5M to check if ADR is picking up (Green or Red) and then switch back to 15M. It is just a handy tool to make sure that at least there is enough volatility to make a few pips.
" Never let the past hold the future to ransom "
  • #1,104
  • Jan 26, 2011 1:31am Jan 26, 2011 1:31am
Quoting zee
Hi Gleneagles,

thanks for all the info you've been sharing with us so far. I saw your chart on the EURUSD forum today ( http://www.forexfactory.com/showthre...20#post4343020 ). If I'm right the indicator you use there is the multisymbol_color-RSI_LQ_1.0. But I just can't figure out which pairs and what period you are using. I would highly appreciate the info!

Thanks in advance

Hi,

I am using custom software for the short term trades. The traditional indicators are not responsive enough to pick entries accurately. The RSI indi is just a handy tool to check what the other related pairs are doing.
It is not a standalone trading system.
" Never let the past hold the future to ransom "
  • #1,105
  • Jan 26, 2011 1:55am Jan 26, 2011 1:55am
Quoting Gleneagles
Hi,

I am using custom software for the short term trades. The traditional indicators are not responsive enough to pick entries accurately. The RSI indi is just a handy tool to check what the other related pairs are doing.
It is not a standalone trading system.
Okay, thanks. Could you tell me which are the other related pairs you use in the RSI and with what period? I'm just really curious.
  • #1,106
  • Jan 26, 2011 2:30am Jan 26, 2011 2:30am
Quoting Gleneagles
Hi,

I am using custom software for the short term trades. The traditional indicators are not responsive enough to pick entries accurately. The RSI indi is just a handy tool to check what the other related pairs are doing.
It is not a standalone trading system.
Is there a way you could share your template and indicators? I searched this hole thread but I couldn't manage to setup my charts like yours.
Thanks.
The Mind creates reality.
  • #1,107
  • Jan 26, 2011 3:22am Jan 26, 2011 3:22am
Quoting zee
Okay, thanks. Could you tell me which are the other related pairs you use in the RSI and with what period? I'm just really curious.
EURUSD GBPUSD AUDUSD NZDUSD (Trading EUR and GBP)


15M RSI 21
" Never let the past hold the future to ransom "
  • #1,108
  • Jan 26, 2011 4:27am Jan 26, 2011 4:27am
Quoting DayTraderBiH
Is there a way you could share your template and indicators? I searched this hole thread but I couldn't manage to setup my charts like yours.
Thanks.
If you are looking for a chart setup to trade Trix , there are a lot of charts and templates posted on the thread.
The charts I have posted on the Euro thread are not related to the Trix method used over here.
" Never let the past hold the future to ransom "
  • #1,109
  • Jan 26, 2011 6:25am Jan 26, 2011 6:25am
Quoting Gleneagles
If you are looking for a chart setup to trade Trix , there are a lot of charts and templates posted on the thread.
The charts I have posted on the Euro thread are not related to the Trix method used over here.
Quoting dryclean
Here is my setup:
240,15 on 15 TF

Get history glen buy glen sell are scripts updatestops(2) is money...
Check out the zip file that dryclean posted here. It's got everything you need to set up Trix. Hope this helps as Trix is a great system!
  • #1,110
  • Jan 26, 2011 11:29am Jan 26, 2011 11:29am
Thought I would share my morning chart on here. Nothing special as far as indicators. Not Trix but Gleneagles does this same thing using an indicator which I don't. He did suggest using the ADR and that really helps me stay out of trouble due to low range. I worked off the M5 time frame and didn't start trading this morning until 5:30am EST. 4 trades, targeted a TP for 12 pips giving me a total of 48. Out now until after FOMC

Give it a try!
Attached Image (click to enlarge)
Click to Enlarge Name: 12 pip trades.gif Size: 26 KB
  • #1,111
  • Jan 26, 2011 11:41am Jan 26, 2011 11:41am
Quoting Gleneagles
EURUSD GBPUSD AUDUSD NZDUSD (Trading EUR and GBP)


15M RSI 21
Hmm.. But your chart is in 5M TF, right? If I put up these pairs, it's nowhere even close to what I can see on yours... Maybe we're not on the same page here I was asking about that red/blue indi on the bottom of the chart. I know it's not Trix (I'm testing trix in demo atm) and that it's not a trading system that you could share. Just thought that indicator setup was interesting and wanted to experiment a bit...
  • #1,112
  • Jan 26, 2011 12:40pm Jan 26, 2011 12:40pm
That is Great. Nice job


I'm not doing well today. Had about 10-12 pips profit on the dragon but that SOB bite back and lost it. I have my TP1 at 20. Might chagne to 10 at least get something. Had a tight SL but a loss is a loss
  • #1,113
  • Jan 26, 2011 12:53pm Jan 26, 2011 12:53pm
Quoting dryclean
That is Great. Nice job


I'm not doing well today. Had about 10-12 pips profit on the dragon but that SOB bite back and lost it. I have my TP1 at 20. Might chagne to 10 at least get something. Had a tight SL but a loss is a loss
set TP for 12 and test on a demo ... that's what i did and i was really surprised. got to find that post on EU that Gleneagles posted as to why 12 and i will post it here


Here it is: For Euro it seems to be, it moves in beats of 20 and setting a TP of 12 allow for some "slippage" at both ends of the short term price swings. ATR (14) on 5M TF is also around 12 when there is a fairly decent level of participation.
  • #1,114
  • Jan 26, 2011 4:05pm Jan 26, 2011 4:05pm
Quoting zee
Hmm.. But your chart is in 5M TF, right? If I put up these pairs, it's nowhere even close to what I can see on yours... Maybe we're not on the same page here I was asking about that red/blue indi on the bottom of the chart. I know it's not Trix (I'm testing trix in demo atm) and that it's not a trading system that you could share. Just thought that indicator setup was interesting and wanted to experiment a bit...
I'm also interested in this same indicator and your overall template and trading style :
http://www.forexfactory.com/attachme...5&d=1295972997

I see you make really good trades and I would like to learn your method. If you could share your knowledge it would be very helpful.
Thanks
The Mind creates reality.
  • #1,115
  • Jan 27, 2011 7:10am Jan 27, 2011 7:10am
GU and EJ made a few pips this am NO LOSSES

closed a buy on GU around 1.59560 I had a resistance line drawn at 159560 which it now has been dancing around made only a few pips but I think I did the right thing
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
  • #1,116
  • Jan 27, 2011 8:20am Jan 27, 2011 8:20am
EU
placed a buy stop at 1.37520 2 pips above a grid line of 137500 just touched it dollar index is going down eu should go up we shall see
also placed a 94240 sell stop swissy
  • #1,117
  • Jan 27, 2011 10:48am Jan 27, 2011 10:48am
Eu tanked on me. Maybe because it was close to the 138 fib not sure. the dollar also gained stregnth. Swissy never kicked in deleted the stop
  • #1,118
  • Jan 27, 2011 11:05am Jan 27, 2011 11:05am
Quoting dryclean
Eu tanked on me. Maybe because it was close to the 138 fib not sure. the dollar also gained stregnth. Swissy never kicked in deleted the stop
Not a good day for me. After 7 trades (all sells on EU) I am up 3 pips

I would post a chart but then you would see that I just didn't have it together today and did all the stupid things a newbie would do. Mainly closing too early grrrrrrrrr

The day is not over yet ... but I may be
  • #1,119
  • Jan 27, 2011 11:49am Jan 27, 2011 11:49am
Quoting AllyB
Not a good day for me. After 7 trades (all sells on EU) I am up 3 pips

I would post a chart but then you would see that I just didn't have it together today and did all the stupid things a newbie would do. Mainly closing too early grrrrrrrrr

The day is not over yet ... but I may be

It was a tough day to trade , most of the trades I took "looked" wrong to me after I entered. PA is really crappy and unpredictable at present.
" Never let the past hold the future to ransom "
  • #1,120
  • Jan 27, 2011 1:26pm Jan 27, 2011 1:26pm
Today 1 trade in the GBP/USD

take profit 20 pips.
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