On My Way To The Top

do you mean your MT4 chart time? I do not think so - but would also be interested to know if such is possible.

Nice chart again...I see someone was able to take advantage of the drop on the eur today...all those situations seemed like very strong situations...just for future reference though as far as your mtf stochastics which color stochastics are which...I can tell the 5 minute and the 4 hour but which is your 15 and 30 and I notice you put the stoch rope in a seperate window...do you find it a little easier that way and better to gauge since it may be bigger and more visible...I may try this when I trade london session...

If you click on the picture so it get's full size you can see M15

Seems that they are in order from M5,M15, M30, H4 probably you meant not the color bars - sorry

Its quite alright easy misunderstanding...

CHF(Swiss Frank) for today:
When three of the four TF's are green I'm going to play this tigth ropes.
Look at the big 15 cent scale for the chart; both nice situations!

Figured it was something I overlooked...I can tell which is the 30 minute stochastic in your chart now...I just missed it in looking at the charts...

Did you check if the rope is not always tight when all 4 timeframes are green. probably it will be most often.

Yes I looked back the charts for the EUR, GBP and CHF till februari the first; there is defenately no relation between tigth rope and all green or red!

Often I saw this rope against the H4 to have minimal impact and quickly turning to the other side to materialize heavely.
I think its safe to say that you could play the rope anyway if you employ tight stops from the beginning; I also saw a lot of cases against most lines from Stochastics or in overbougth/sold situations to materialize quite strongly..

That sounds good - as this is then a additional info.

I'm doing for the Alerter I posted (which basically can filter for your Same Color bars a simple Entry Filter I was thinking to play with.

If anyone has interest I can post it later on.

Another thing to consider is that we are trading the five minute chart which is a relatively faster moving stochastic as opposed to the higher levels so I think to have everything lined up like that and get a perfect tight rope would be very rare in the market as that is the most perfect scenario...but with that in mind we can also look to the higher time frames once we do have three or four timeframes lined up and I'm sure often times we will see that those ropes would be rather suggesting of that trade direction as well...

Paul

I wouldnt recomment playing against the H4 though..

Lol the h4 is the main trend for the most part so any play against that would be for an expected smaller pip move but I wasn't referring to playing against the h4 just trying to make the point that the rope would rarely be tight perfectly with all four aligned simply because we are looking at the five minute stochastic which usually by the time everything lines up it will be unraveling near overbought or oversold or whatever the case may be so often times if we want to see that tight rope with the stochs all lined up we may want to consider looking at higher time frames and seeing what those ropes are doing which is all still part of the mtf concept...and I do agree trading against the h4 does add a bit more risk in our entries but that is a whole different discussion...

Ok: here is the one I did with the Signal Filter.

Idea is: to choose a Timeframe where we want to ride a stochastic to the overbought or oversold.

In my example setup I use the 100.3 on a M1 chart.
I let a number of included stochastics line up in the same direction (as pmullin86 and despichtt do in there posts).


Additionally I check the Stoch 100.1.3 on M1:

if all incl. directions point up: I do not want the EntryStoch I plan to rid to overbought be already to close to oberbought:
setting MaxEntryLevel_Long (EntryStoch must be below it for a valied signal)

if all incl. directions point down: I do not want the EntryStoch I plan to rid to oversold be already to close to oversold:
setting MinEntryLevel_Short(EntryStoch must be above it for a valied signal)


If the filter is set a couple of other things are not acceptable.

Signals only given if there is a clear direction: meaning more UP than down for long.
One can also not use MinNumberSameDirection == 0.

But basically it should work like the other just with the additional Filter stoch.

Other parameters to play with might be: CheckOnlyAtNewChartBar or ConsiderOnlyClosedCandles
and of course any particular stoch setting: MinNumberSameDirection and whatever.


Anyway this might be of interest to most of you:
together with the other things you already do: nothing special but might be still useful to avoid unnecessary alerts.
for instance if you want to rid the Stoch 14.1.3 on the 5Min chart to overbought/sold set this as EntryStoch and the MaxEntryLevel_Long,MinEntryLevel_Short

Might be interesting to have it added to a couple of same pair charts with different settings for test purpose.

I added a extra: option StrToIdentify ( only interesting if you use a number of same pairs charts but different indicator setting.) : so in the Popup alerter you know which one has triggered.

Here is what I'm looking at when I take a peak at the higher time frames before I start trading and during my trading to get the bigger picture of what's going on...this is the situation with the EUR USD that was explained a bit earlier but below are the illustrations to clearly demonstrate...

Good morning Paul!

I wish I could wake up as easy as you can!
I'm not much of a human so early; having difficulties pulling the trigger in the morning as well..
Thinking about skipping this morning session in future; starting 0700ET(0800ET rigth now because of this early to Europe time changing).
Often out of my bed just too late and missing the first action; realizing having to wake up even earlier(I get even more horribel feelings from..).
The morning is ugly my friend; realy ugly

Ok so my entries are with the white vertical lines while exits are the yellow lines...keep in mind for the most part..my first entry is usually with two lots in and I try to keep two lots going at a time so when I exit one lot I will continue to trail my second lot and look for a logical point to add to my position and thats why you will see multiple white lines as well as multiple yellow lines here...ok so the first white line we have a test and fail of the fib pivot level bottom of the ascending channel, very very slight bullish divergence but divergence nonetheless, a break above the 5,10,15,20 moving averages...(the red moving averages) and the stoch rope looked pretty good for a long move, and I take my first exit on one lot for about 10 pips...second entry was taken just to add to my position im holding and was taken simply due to the fact of my 5, 15, 30 moving up...(live the 30 hadn't closed up yet but I had two 5 minute closes until the 30 closed and the 5 and 15 were heading up pretty nicely...so I cheated a little bit) and I had a nice moving average pull back move that I like to see where the 5 dipped below the 10 ema and than came back up with price closing above...so entry was at this point...and I moved my stop loss on trailing order to +5 pips...exit this added order for about 21 pips and both exit reasons are reaching a fib level with the 5 crossing down below 80 (just one of my exit options I consider when in a trade...I don't solely rely on this)...third entry we have a case of bullish divergence, stoch rope ok, test and fail of 200 sma which is heading up and a fib level...with the 5 stochastic pulling back to the 15 and 30 in overbought and the 1 hour which is heading up and the same moving average movement that I like to see...move stop on trailing order to +20 pips...exit at about 32 pips...reason for exit 5 crossing below 15 and 30 stochastic and below 80 as well as reaching a fib level at this point...and I'm currently still holding onto my trailing order...just moved stopped to newly created swing low as we speak and just waiting to see if the market wants to go a little higher or take me out and so that stop is now moved to +42 pips...my 100,3,3 is looking like there is a little more up room and I havent seen bearish divergence indicating a shift in momentum yet...so I will see what happens...so if I get stopped out...that would make...106 pips...but of course it would make me happy if the eur kept running up a little bit...I'm going off to bed to take a little nap before work...I am trying out a new set up...which I hope it works to where I will be able to trade from work...I looked into it and evidently I may be able to install mt4 on a flash drive and bring it to work and do it from there without installing it on the work computer so I will see how that goes...so maybe I can catch some more pips later on in the day during the U.S. session...but I don't know the pairs seem pretty high on the daily range for now...but we never really know with the forex market...so I'm off to bed...I have the indicator that MJ made for me up so if anything happens maybe it will wake me up...or not...and also if anyone is curious as to what the arrows on my chart are...its simply just my simplified version of looking for set ups by throwing on a moving average rsi indicator which alerts you visually with arrows and with sound when whatever moving averages you set are crossed up how you want with price closing above or below so I am simplifying things by just getting alerted whenever that happens and than going ahead and analyzing the whole situation and the story the price, the different timeframes and the stochastics are telling me and determine whether I should enter at that point or no...sometimes its just a heads up of a possible set up since everything may not be in line...but thats just what that is...if anyone wants it...just ask and I will post...


Paul

Missed the first action again from strong setup EUR..

Good morning Mark,

I hope you have better morning starts since it sounds like you have trouble...lol but I've never really been one for too much sleep...its kind of a waste of time...so I try to get just as much as I need to get me by and thats it...so I guess thats why I seem like I'm up easy or what not...

Hmmm interesting...its nice to see that we are on the very same page here...I looked at that very set up and that entry exactly where you have it marked off but I passed on it because I was caught up in my GBP USD trades still...hmmm...don't know why but I find myself somewhat hesitant to trade multiple pairs at once...I scan through quite a few looking for set ups but once I get one...it tends to have all my focus...and plus I want my account a little bigger before I start getting into all of that...

I think its better to specialize on a couple of pairs; watching the same all the time.
I'm always looking at the same 3 futures on my 4 screen setup; fourth screen for news service and brooker..

Good luck!