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FOREX Market Reversal Levels

  • #521
  • Mar 31, 2011 5:18am Mar 31, 2011 5:18am
By now you must have figured out you are wrong, but are arguing just to save face. To match the current lines this week you have to go back 150 days. Next week you will need to reset the projection value in an endless exercise of "line fitting". My recommendation, leave the market profiling settings as is wait 3 consecutive weeks without modifying the values and then when you see all types of unmatched lines on your chart, come to terms with the fact that this is NOT how they are calculated. If you publish your template I'll leave it on one of my PCs for three weeks as well for validation.

""Oh he's a nice guy. So we trusted him. And later we find out, that we we're taken advantage of. I would of never expected from this nice fella.""

http://www.hulu.com/american-greed

Greed is an excessive desire to possess wealth or goods with the intention to keep it for one's self.[/quote]
  • #522
  • Mar 31, 2011 11:11am Mar 31, 2011 11:11am
Thursday 31 March 2011 - 370 pips on five pairs

FMRL accurate resistance, support and reversal levels

Below are five of todays charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 20 periods.

The simple FMRL & Fisher method is explained in the first post.

FMRL numbers are only available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 70 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EU.gif Size: 16 KB


GBPUSD - 150 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 17 KB


EURJPY - 100 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EY.gif Size: 18 KB


USDJPY - pips to be had but too choppy

Attached Image (click to enlarge)
Click to Enlarge Name: UY.gif Size: 18 KB


USDCHF - 50 pips

Attached Image (click to enlarge)
Click to Enlarge Name: UCHF.gif Size: 17 KB
  • #523
  • Apr 1, 2011 6:36am Apr 1, 2011 6:36am
Just another quick point, that one or two people have come across. When you rename the file from Andrew, it has to land up with a file name of "FMRL.csv" ie, a file name of "FMRL" and a file extension of "csv". Some people are renaming the file as "FMRL.csv" which means the file lands up with a name of "FMRL.csv.csv". Solution: rename the file as "FMRL" and make sure the file extension remains "csv".
  • #524
  • Apr 2, 2011 10:13am Apr 2, 2011 10:13am
Quoting jaimeca
By now you must have figured out you are wrong, but are arguing just to save face. To match the current lines this week you have to go back 150 days. Next week you will need to reset the projection value in an endless exercise of "line fitting". My recommendation, leave the market profiling settings as is wait 3 consecutive weeks without modifying the values and then when you see all types of unmatched lines on your chart, come to terms with the fact that this is NOT how they are calculated. If you publish your template I'll leave it on...
[/quote]


clearly you do not understand what it takes to generate a calculation. You need previous data. If the data is not present, like in a trend, you need to go back in previous data until the current price is near the previous data.--- EURUSD- trending for several months.- Go back 150 days, now we have previous data to work from.

So in respect to this, you would not be able to calculate levels on new highs or lows. If gold breaks above NEW highs, you would not be able to calculate a precise reversal because we do not have any previous data to calculate.
, but once in range, you can.
  • #525
  • Apr 2, 2011 5:27pm Apr 2, 2011 5:27pm
Quoting rayclarke
Just another quick point, that one or two people have come across. When you rename the file from Andrew, it has to land up with a file name of "FMRL.csv" ie, a file name of "FMRL" and a file extension of "csv". Some people are renaming the file as "FMRL.csv" which means the file lands up with a name of "FMRL.csv.csv". Solution: rename the file as "FMRL" and make sure the file extension remains "csv".
So true... .

Everyone have a nice weekend.


______________
michael
Be like water.
  • #526
  • Apr 2, 2011 6:06pm Apr 2, 2011 6:06pm
Yes of course, As EURUSD climbed into new territory you had to go further back in the Market profile periods to find a level in that range, of course I get that. But here is the scenario I'm describing. In the upcoming weeks lets say EURUSD drops back below these levels once again, back to the exact price range of the previous week. FMRL will publish a new week without those levels since the S and R levels are a constant calculated off the Pivot Point. Your MP indicator in the previous week was set to 5 days back and it aligned to some degree. Now you are in the same range with 150 days of data an most likely many new levels invading the range. You'll most likely want to reset the MP to 5. Round and round you go. Of course without the FMRL reference you would not even be able to find the right value and most likely trade different levels, hence that is why the are different systems.


clearly you do not understand what it takes to generate a calculation. You need previous data. If the data is not present, like in a trend, you need to go back in previous data until the current price is near the previous data.--- EURUSD- trending for several months.- Go back 150 days, now we have previous data to work from.

So in respect to this, you would not be able to calculate levels on new highs or lows. If gold breaks above NEW highs, you would not be able to calculate a precise reversal because we do not have any previous data to calculate.
, but once in range, you can.
[/quote]
  • #527
  • Apr 3, 2011 1:25am Apr 3, 2011 1:25am
Quoting rayclarke
I have taken the liberty to use neomn's good work and modify his EA into a script, and at the same time adding the additional 3 pairs now provided on Andrew's csv file.

It assumes a file named "FMRL.csv" is sitting in the files subfolder of the experts folder, which you put there from Andrew's download link.

I have also done a quick script to get rid of the lines off a chart, as, although you can remove them manually, it is a bit tedious, and just dragging "FMRL delete lines" to the chart will do it for you.

If you want to use these, just...
Good indi. Is it possible to amend it to either (i) enable the user to choose which TF's it's displayed on or (ii) only display it on H1 or less.

It seems to make itdifficult to see PA on higher Tf's when it's there.

Thanks.
  • #528
  • Apr 3, 2011 7:39am Apr 3, 2011 7:39am

clearly you do not understand what it takes to generate a calculation. You need previous data. If the data is not present, like in a trend, you need to go back in previous data until the current price is near the previous data.--- EURUSD- trending for several months.- Go back 150 days, now we have previous data to work from.

So in respect to this, you would not be able to calculate levels on new highs or lows. If gold breaks above NEW highs, you would not be able to calculate a precise reversal because we do not have any previous data to calculate.
, but once in range, you can.
[/quote]

Hi Ipndasno,

Clearly you do not understand.

Here is a dailies picture of the EU.

The blue lines are April monthly numbers.

Attached Image


Calculated not derived as you can see.

Andrew
Attached Image
  • #529
  • Apr 3, 2011 7:44am Apr 3, 2011 7:44am
Friday 1 April March 2011 - 700 pips on five pairs

FMRL accurate resistance, support and reversal levels


Below are five of todays charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 32 periods.


These are imaginary trades. They have not been traded by us.

The simple FMRL & Fisher method is explained in our first post.

Its our attempt to help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.


FMRL numbers are only available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 170 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EU.gif Size: 15 KB


GBPUSD - 140 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 16 KB


EURJPY - 160 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EY.gif Size: 14 KB


USDJPY - 120 pips

Attached Image (click to enlarge)
Click to Enlarge Name: UY.gif Size: 14 KB


USDCHF - 110 pips

Attached Image (click to enlarge)
Click to Enlarge Name: UCHF.gif Size: 15 KB
  • #530
  • Apr 3, 2011 8:17am Apr 3, 2011 8:17am
Hi Andrew,

I take it the Monthly FMRL's are the strongest? Then Weekly, then daily? ie. a bit like typical pivots?


Thanks.
  • #531
  • Apr 3, 2011 11:21am Apr 3, 2011 11:21am
Quoting Jenks_fx
Hi Andrew,

I take it the Monthly FMRL's are the strongest? Then Weekly, then daily? ie. a bit like typical pivots?


Thanks.
Hi Jenks_fx,

No. FMRL is not that simple.

Real strength can be found only in confluence.

We regard the weekly numbers as optimal.

Daily numbers are subject to noise.

Monthly numbers to uncertainty.

Shannon mutual information!

Andrew
Attached Image
  • #532
  • Apr 3, 2011 3:05pm Apr 3, 2011 3:05pm
Quoting Jenks_fx
Good indi. Is it possible to amend it to either (i) enable the user to choose which TF's it's displayed on or (ii) only display it on H1 or less.

It seems to make itdifficult to see PA on higher Tf's when it's there.

Thanks.
Not sure I understand the request. Can you not just put it on the timeframe chart you desire? Please give me more details, and any other input from members would be welcome, as well. Many thanks. Ray
  • #533
  • Apr 3, 2011 10:57pm Apr 3, 2011 10:57pm
Quoting rayclarke
Not sure I understand the request. Can you not just put it on the timeframe chart you desire? Please give me more details, and any other input from members would be welcome, as well. Many thanks. Ray
Hi Ray,

To clarify...

If I initially put it on GU 15M for example, then when I switch to the H1, H4, D1 etc...for GU, it is also shown there.

When it's also shown on other TF's, eg H4, D1, it makes it more difficult to see the actual candles on the chart as the indicator's text and lines are over them.

If there was a user param to the indicator, where the user could switch the dispay for it on only at their specified TF's then this would help.


see attached.

thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-04-04_0654.jpg Size: 76 KB
  • #534
  • Apr 4, 2011 12:11am Apr 4, 2011 12:11am
Hi Andrew - just checking if the Daily cable levels are correct. They are only 3 pips apart.
  • #535
  • Apr 4, 2011 12:49am Apr 4, 2011 12:49am
Hi Subscribers,

Apologies. The corrected data should be with you now.

Andrew
Attached Image
  • #536
  • Apr 4, 2011 10:24am Apr 4, 2011 10:24am
I think the calculation represent similiar to this

http://www.getmoney2010.webs.com

who apparently charge 2000 dollar only for calculation
  • #537
  • Apr 4, 2011 11:44am Apr 4, 2011 11:44am
Monday 4 April 2011 - Not a trading day

A day for walking the dog ...

Attached Image


Andrew
  • #538
  • Apr 4, 2011 11:57am Apr 4, 2011 11:57am
Quoting hoichoi
I think the calculation represent similiar to this

http://www.getmoney2010.webs.com

who apparently charge 2000 dollar only for calculation
If that's a valid, real site, I'll eat my hat!
  • #539
  • Apr 4, 2011 2:25pm Apr 4, 2011 2:25pm
Quoting Jenks_fx
Hi Ray,

To clarify...

If I initially put it on GU 15M for example, then when I switch to the H1, H4, D1 etc...for GU, it is also shown there.

When it's also shown on other TF's, eg H4, D1, it makes it more difficult to see the actual candles on the chart as the indicator's text and lines are over them.

If there was a user param to the indicator, where the user could switch the dispay for it on only at their specified TF's then this would help.


see attached.

thanks.
Hi Jenks_fx,

Unfortunately, you cannot have external input parameters on a script - it just runs once then closes down. I could produce a version that only draws the lines, not the text, if that would help?
  • #540
  • Apr 4, 2011 10:02pm Apr 4, 2011 10:02pm
Quoting rayclarke
Hi Jenks_fx,

Unfortunately, you cannot have external input parameters on a script - it just runs once then closes down. I could produce a version that only draws the lines, not the text, if that would help?
Could you do a version which just puts the text and lines on M1, M5, M15 and M30?

thanks.
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