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Charting Vegas System without the indicator?

  • #1
  • First Post: Mar 21, 2006 8:27am Mar 21, 2006 8:27am
  •  Rumi
  • | Joined Mar 2006 | Status: Student of forex trading | 44 Posts
Hi there everyone,

I had a small question to ask:

I just recently purchased an fx simulator that simulates actual live trading using real historical data....anywho, to the point:

I wanted to know if there is anyway to chart the Vegas System without the use of the Metatrader indicators. Any ideas? Is there a way to chart them using just EMA's or Bollinger Bands? I could really use the help because it would be a terrific help to see in real time (yet in fast forward) how the system performs.

Thanks everyone.

ps- Also one quick extra question: are the fib level lines on the Vegas indicators extensions out from off of the central Moving Averages or are they all Moving Averages that are based off of Fibonacci numbers?
  • #2
  • Edited Mar 22, 2006 12:40pm Mar 21, 2006 8:41am | Edited Mar 22, 2006 12:40pm
Quoting Rumi
Hi there everyone...ps- Also one quick extra question: are the fib level lines on the Vegas indicators extensions out from off of the central Moving Averages or are they all Moving Averages that are based off of Fibonacci numbers?
Hi Rumi,
I've been using the FIBO channels on time frames of 5 min and up to monthly since first reading about them last summer. At that time i was using a nice charting package from http://www.fibonaccitrader.com .

The moving averages you see on the 4hr Vegas model are drawn off the central 55 SMA, while the Daily model they are drawn off the central 28 EMA. Many charting packages will have the ability to add "Levels" off a MA. In this case you are adding MA's at popular FIBO number-of-pips away from the central MA. . . +/- 55, +/- 89, +/- 144 etc.... on smaller (under 4 hrs) i also add +/- 13, +/- 21, +/- 34 for heads up on TP and also possible consolidation areas.

EDIT Post Script: I thought some might like a quick 55 sma channel template for their template folder in MT4 so i loaded mine to my server: http://www.accrete.com/fx_posts/MT4_stuff/templates/ just download the one named 55sma channel.tpl and place inside your template folder in MT4 program folder. It is comprised of a 55sma/median for the +/-34,55,89 FIBOs in Blue, and then a 56sma/median for the +/-144,233,377,610 FIBOs in Magenta...use whatever two colors you like. I did this to visualy differentiate between inner and outer (TP) levels.

The 56ma is due to the fact that MT4 will not allow you to place two of the same MA# common Moving Average indicators on the chart...so i fudged.

: - )
  • #3
  • Mar 22, 2006 3:35pm Mar 22, 2006 3:35pm
  •  Rumi
  • | Joined Mar 2006 | Status: Student of forex trading | 44 Posts
It seems this simulator definitely doesn't do Moving Averages in the negative so I guess I cannot test the Vegas systems on this simulator. It's too bad. Maybe I can figure out some way to use the close of larger moving averages frames to hit these numbers. Any more suggestions out there? Anyway to use the fib tool to manually catch these fib levels outside of the moving averages? i will keep working on this.
  • #4
  • Mar 24, 2006 2:37pm Mar 24, 2006 2:37pm
Quoting accrete
Hi Rumi,
I've been using the FIBO channels on time frames of 5 min and up to monthly since first reading about them last summer. At that time i was using a nice charting package from http://www.fibonaccitrader.com .

The moving averages you see on the 4hr Vegas model are drawn off the central 55 SMA, while the Daily model they are drawn off the central 28 EMA. Many charting packages will have the ability to add "Levels" off a MA. In this case you are adding MA's at popular FIBO number-of-pips away from the central MA. . . +/- 55, +/- 89, +/- 144 etc.... on smaller (under 4 hrs) i also add +/- 13, +/- 21, +/- 34 for heads up on TP and also possible consolidation areas.

EDIT Post Script: I thought some might like a quick 55 sma channel template for their template folder in MT4 so i loaded mine to my server: http://www.accrete.com/fx_posts/MT4_stuff/templates/ just download the one named 55sma channel.tpl and place inside your template folder in MT4 program folder. It is comprised of a 55sma/median for the +/-34,55,89 FIBOs in Blue, and then a 56sma/median for the +/-144,233,377,610 FIBOs in Magenta...use whatever two colors you like. I did this to visualy differentiate between inner and outer (TP) levels.

The 56ma is due to the fact that MT4 will not allow you to place two of the same MA# common Moving Average indicators on the chart...so i fudged.

: - )


I installed the file you mentioned in the above text , but it doesnt appear in the navigator , Any suggestions ?????????????
  • #5
  • Mar 24, 2006 4:49pm Mar 24, 2006 4:49pm
Quoting vinn234
I installed the file you mentioned in the above text , but it doesnt appear in the navigator , Any suggestions ?????????????
Did you try my post script comment? It should work fine:

EDIT Post Script: I thought some might like a quick 55 sma channel template for their template folder in MT4 so i loaded mine to my server: http://www.accrete.com/fx_posts/MT4_stuff/templates/ just download the one named 55sma channel.tpl and place inside your template folder in MT4 program folder. It is comprised of a 55sma/median for the +/-34,55,89 FIBOs in Blue, and then a 56sma/median for the +/-144,233,377,610 FIBOs in Magenta...use whatever two colors you like. I did this to visualy differentiate between inner and outer (TP) levels.

It will then show up as a template in the template menu when you right click on a open chart and select "Templates".

??
  • #6
  • Mar 24, 2006 9:42pm Mar 24, 2006 9:42pm
Quoting accrete
Hi Rumi,
I've been using the FIBO channels on time frames of 5 min and up to monthly since first reading about them last summer. At that time i was using a nice charting package from http://www.fibonaccitrader.com .

The moving averages you see on the 4hr Vegas model are drawn off the central 55 SMA, while the Daily model they are drawn off the central 28 EMA. Many charting packages will have the ability to add "Levels" off a MA. In this case you are adding MA's at popular FIBO number-of-pips away from the central MA. . . +/- 55, +/- 89, +/- 144 etc.... on smaller (under 4 hrs) i also add +/- 13, +/- 21, +/- 34 for heads up on TP and also possible consolidation areas.

EDIT Post Script: I thought some might like a quick 55 sma channel template for their template folder in MT4 so i loaded mine to my server: http://www.accrete.com/fx_posts/MT4_stuff/templates/ just download the one named 55sma channel.tpl and place inside your template folder in MT4 program folder. It is comprised of a 55sma/median for the +/-34,55,89 FIBOs in Blue, and then a 56sma/median for the +/-144,233,377,610 FIBOs in Magenta...use whatever two colors you like. I did this to visualy differentiate between inner and outer (TP) levels.

The 56ma is due to the fact that MT4 will not allow you to place two of the same MA# common Moving Average indicators on the chart...so i fudged.

: - )
I have been trying to get up to speed on the VWB but have run into 2 roadblocks (more like mountain sized boulders): I have not been able to download and open the plugins (all I get is jibberish) and I have downloaded the appropriate charting package but I have no idea how to go about how to load something into the template folder (I did find that folder). Could you help a very technologically challenged person? If only computers were living systems! Thank you.
  • #7
  • Mar 25, 2006 9:38am Mar 25, 2006 9:38am
Quoting Rumi
I just recently purchased an fx simulator that simulates actual live trading using real historical data....
Could you give me some info on the simulator you purchased? I've been looking for something like that to practice with. How much does it cost? Where do I get it? Does it work good? etc, etc.

thanks,
Dave
  • #8
  • Mar 25, 2006 10:03am Mar 25, 2006 10:03am
Sorry to hear you are having difficulties, i suppose we all, at various levels have a learning curve on this stuff. I do believe once you spend time with MetaTrader 4 you will be doing all this as second nature. Hang in there, lots of great ppl here to help out.

I'll add some more details to my instructions given above.

Quoting moonchild
I have not been able to download and open the plugins (all I get is jibberish)
...
You should find the MT4 folder (could be named InterbankFX or SNC Investments or any number, depending on where you downloaded it from.)

(Best to do all the below when the program is not running)

Then open the folder
Find "Experts" open it and,
Find "Indicators" and drag/drop the new indicator into this folder for any "Indicator" you have downloaded from the net.

Upon next running of program this indicator name should be listed under the "Custom Indicator" listing in the "Navigator".

Quoting moonchild
...I have no idea how to go about how to load something into the template folder (I did find that folder)...
Same directions as above for finding the MT4 program folder. This time you will find a folder called "Template" as soon as you open the program folder. This is where you drag/drop your templates such as what i posted above. DO NOT put them inside the template folder found inside the "Experts"...!

Now next time you run MT4, right click on any open chart. Look down six words on the pop up window and you will see the word "Template" with a right arrow, highlight that and find the template you wish to attach to the chart.

There are several threads here at the FF discussing MT4 setups, and also grab the MT4 manual from the site you downloaded the program from or from Metaquotes.net...read through it and have fun. You can't break anything...and even if you do just download it again.

It's all fun,
Thom
  • #9
  • Mar 25, 2006 5:11pm Mar 25, 2006 5:11pm
  •  Rumi
  • | Joined Mar 2006 | Status: Student of forex trading | 44 Posts
I purchased it from www.forexinterbank.com It uses past historical data of different currency pairs (only one at a time though) and has several indicators and the like. You can play the data in fastward and slow down and pause and lots of stuff. I am still playing with it and will tell you if it's worth getting or not. So far it seems pretty decent. Just give me a more days to play around and I will let you know if it's worth your time and money.
  • #10
  • Apr 2, 2006 7:39am Apr 2, 2006 7:39am
  •  Rumi
  • | Joined Mar 2006 | Status: Student of forex trading | 44 Posts
Bloody phenomenal! I prefer not to do recommendations as they often come off like spam, yet this was terrific. Imagine hsitorical data from 1999-2005. Now imagine that you have this info for all of the majors and some exotics. Then add a great charting platform with all of the regular indicators and the ability to put several charts at once. Now here the kicker for you: it trades as if you were in realtime. You can forward at diffrent speeds and even pause. You can keep a trade journal and snapshots of price and such and it even has a risk % calculator so it adjusts lots based on the stop loss you put in. It's terrifc for candlestick pattern recognition and stuff.

It has it's limitations yet I have to say it's the best 150USD I ever spent! i wish I could simulate Vegas' system though. (No negative MA's or large enough numbers (only goes to 200)
  • #11
  • Last Post: Apr 2, 2006 8:19am Apr 2, 2006 8:19am
  •  Rumi
  • | Joined Mar 2006 | Status: Student of forex trading | 44 Posts
Please see this post if you want to know more about this simualtor thing.

That's all I am going to mention about it now, before I start sounding like some kind of commercial.

http://www.forexfactory.com/forexfor...ead.php?t=4818
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