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On My Way To The Top

  • #821
  • Oct 24, 2011 7:21am Oct 24, 2011 7:21am
hi pmullin86,

When I find some between time, I'm planning to implement in the Alerter something you asked once: Stochastic direction option considering overbought/sold

you write

-Check Direction Of Daily Stochastic
-Take Note If Oversold Or Overbought
-1 Hour Stoch Rope Must Be Moving In The Same Direction Of Daily Stoch
-If Daily Overbought Than One Hour Must Be Moving Up
-If Daily Oversold Than One Hour Must Be Moving Down


-If Daily Overbought Than One Hour Must Be Moving Up
I'm a bit unsure what are you doing if Daily Stoch is Overbought area and and also H1 Stoch is in overbought area.

Do you ignore in such case the direction of H1 (because it is in overbought area) and would regard this as: UP sign.
__Thanks__ MJ
  • #822
  • Oct 24, 2011 7:26am Oct 24, 2011 7:26am
Quoting M_j
hi pmullin86,

When I find some between time, I'm planning to implement in the Alerter something you asked once: Stochastic direction option considering overbought/sold

you write

-Check Direction Of Daily Stochastic
-Take Note If Oversold Or Overbought
-1 Hour Stoch Rope Must Be Moving In The Same Direction Of Daily Stoch
-If Daily Overbought Than One Hour Must Be Moving Up Between 20 and 80
-If Daily Oversold Than One Hour Must Be Moving Down Between 20 and 80


[color=RoyalBlue]-If Daily Overbought...
That would be nice but in case the daily is overbought than the daily is considered up but in the case of the h1 in overbought than it is no longer considered at all...
No man is free who is not a master of himself. -P.M.-
  • #823
  • Oct 24, 2011 7:30am Oct 24, 2011 7:30am
Quoting pmullin86
That would be nice but in case the daily is overbought than the daily is considered up but in the case of the h1 in overbought than it is no longer considered at all...
Ok I see:

What about Daily Overbought - H1 oversold but pointing up?
__Thanks__ MJ
  • #824
  • Oct 24, 2011 7:34am Oct 24, 2011 7:34am
Quoting M_j
Ok I see:

What about Daily Overbought - H1 oversold but pointing up?
Daily Overbought=Up
H1 oversold =Not considered since not pointed up between 20 and 80

So no alert fired in that scenario...

But Daily Overbought
H1 pointed up at 20.1= stochastics criteria met to look for a buy
No man is free who is not a master of himself. -P.M.-
  • #825
  • Oct 24, 2011 7:44am Oct 24, 2011 7:44am
Ok I understand - can not promise when but I hope to do it.


Some other points:
1. did you ever test to use H1 and H4 instead of Daily?
2. any better setup id you use H1, H4 and daily?


Alerter: do you think it would make sense to include the M5 Stoch 14 for up being below 50 (as you want the M5 rope to turn/move up from at least 50)

I'm not sure if we include this in the alerter (which means all of the Stoch UPDn, Ma Order, Ma Price touch + M5Sto14 below 50 must happen at the same time) that you might cancel out many otherwise valid setups ´.


Not sure just check it through and let me know what you think - might be let you sleep more and avoid some other alerts.


See below (it's something slightly different than your setup but what I mean the blue (sell) alerts would have been avoided if M5 Sto 14 would be included with the direction also down for sell

Not sure though if it would not cancel too many setups.
Attached Image (click to enlarge)
Click to Enlarge Name: test.gif Size: 25 KB
__Thanks__ MJ
  • #826
  • Oct 24, 2011 8:18am Oct 24, 2011 8:18am
stopped out for -2%
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp sell.gif Size: 50 KB
No man is free who is not a master of himself. -P.M.-
  • #827
  • Oct 24, 2011 8:27am Oct 24, 2011 8:27am
I have tried the h1 and h4 but the daily and h1 seems to give better results I guess since the h1 and h4 are so close together but I do use the h1 and h4 moving together for the countertrend entry as there is usually some good momentum when they are together but I had to add the 30 minute as a filter since I noticed a bit of false entries with just those two....and that does make sense to add the five minute 14 stochastic to filter out trades actually its funny you mention that because just yesterday I added a fourth stochastic to the code of the multistochdirectional alert code to have it do the same thing you are mentioning now and it does help weed out some false alerts so if its not too much you can surely add that in there as well...I'm aware you are busy and have quite a bit going on so whenever you are able to get around to it is fine...
No man is free who is not a master of himself. -P.M.-
  • #828
  • Oct 24, 2011 9:50am Oct 24, 2011 9:50am
Congratulation you managed to change the code and add a 4th Stoch.

about the M5 Sto14 I guess I will not add any direction but only a min max position: in your example for UP max 50 - but leave it to be set by the user - for instance one might prefer that the M5 Sto 14 is still lower down below 35.
If I remember correctly I had something similar in one of the early multistochdirectional alerts ( I nerver really used them)

Basically I try to get some useful things done before I actually move to SA. Because there I will like you depend more on alerts because of the time difference to Europe - which was until now never a problem.

Because we have slightly similar trading ideas and setups I appreciate your experience by actually using some of the stuff ( A shame I never could get you to switch to the Open Value indies - but each one needs to trade how he feels comfortable
__Thanks__ MJ
  • #829
  • Oct 24, 2011 11:05am Oct 24, 2011 11:05am
Congratulation you managed to change the code and add a 4th Stoch.

Thanks I do plan on working on getting better with this coding stuff as time passes as I should start having more time to put the energy and more effort towards it

about the M5 Sto14 I guess I will not add any direction but only a min max position: in your example for UP max 50 - but leave it to be set by the user - for instance one might prefer that the M5 Sto 14 is still lower down below 35.
If I remember correctly I had something similar in one of the early multistochdirectional alerts ( I nerver really used them)

This does seem best in my eyes...

Basically I try to get some useful things done before I actually move to SA. Because there I will like you depend more on alerts because of the time difference to Europe - which was until now never a problem.

Alerts will prove to be very useful I'm sure you will find as they help me out tremendously with the time differences and such...very helpful tool alerts can be if used correctly of course...

Because we have slightly similar trading ideas and setups I appreciate your experience by actually using some of the stuff ( A shame I never could get you to switch to the Open Value indies - but each one needs to trade how he feels comfortable

No worries, I just appreciate you putting forth the effort and time to code the indicators and alerts you have and being kind enough to share with myself and the community...

As far as the open values go I have not said much about it but have been watching the alerts given with the open values for the daily and hour stochastic and must say that in my opinion the hour open stochastic does seem to give a bit of false entries at times but the daily open value seems relatively well at catching the trend changes rather quickly but of course I still need to watch this over the next few months or so...
No man is free who is not a master of himself. -P.M.-
  • #830
  • Oct 24, 2011 11:14am Oct 24, 2011 11:14am
So I guess my day will be finished off at +14% and will have to see what later on tonight or tomorrow's market looks like...
No man is free who is not a master of himself. -P.M.-
  • #831
  • Oct 24, 2011 12:07pm Oct 24, 2011 12:07pm
To sty flexible as always I thought I change the Stok UPDn alerts to something like:

ALERT OPTION: UP: ALL MTF STOk up. DOWN: ALL MTF STOk down.
OverBoughtOverSoldLevel OPTION: There are 3 scenarious how one can use this

- 1. Disregard OverBought/Sold Levels: in this case if the STOk is in the OverBought/Sold Level it is considered to be neigther UP nor DOWN

- 2. NORMAL usage - uses always the OverBought/Sold Levels:

- in this case if the STOk is at or above the OverBought Level it is considered UP
- in this case if the STOk is at or below the OverSold Level it is considered DOWN

- 3. NORMAL usage - use always the true Direction even in OverBought/Sold Level:
- this is a variation of Number 2: simple set the OverBought level above 100 and the Oversold Level below 0

This would allow for the current way as well as implementing your both differences.


In your case you would need to set the:
- Daily STOk to 2. NORMAL usage with the OverBought/Sold Level - I guess 80/20 you use.
- H1 STOk to Option 1: Disregard OverBought/Sold Levels


And if one wants the current way he can just adjust the Ob/Os Level greater than 100 and less than 0

And everyone is happy

I will first do a separate Alert indi only for the STO with this changes and later on implement this in a combined alert like the one you are using now.
__Thanks__ MJ
  • #832
  • Oct 24, 2011 12:15pm Oct 24, 2011 12:15pm
Quoting pmullin86
So I guess my day will be finished off at +14% and will have to see what later on tonight or tomorrow's market looks like...
pmullin, Good job again today.

Have had 3 trades today so far..

EG: 2 loss for -2%
NU: 1 win stopped out at +1%

Have been reading up some over the weekend and am going to try and start taking some CTT trades over the next couple of days..

Missed a couple of your trades due to 1hr being o/b but I must keep in mind to look at direction when that is the case..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg1.gif Size: 56 KB
Click to Enlarge Name: nu1.gif Size: 29 KB
  • #833
  • Oct 24, 2011 12:18pm Oct 24, 2011 12:18pm
hi guys an my very good frend pal. this trade was taken on aud usd m5 regarding m15 for 2% so far
Attached Images
passion and discipline
  • #834
  • Oct 24, 2011 12:19pm Oct 24, 2011 12:19pm
To sty flexible as always I thought I change the Stok UPDn alerts to something like:

ALERT OPTION: UP: ALL MTF STOk up. DOWN: ALL MTF STOk down.
OverBoughtOverSoldLevel OPTION: There are 3 scenarious how one can use this

- 1. Disregard OverBought/Sold Levels: in this case if the STOk is in the OverBought/Sold Level it is considered to be neigther UP nor DOWN

- 2. NORMAL usage - uses always the OverBought/Sold Levels:

- in this case if the STOk is at or above the OverBought Level it is considered UP
- in this case if the STOk is at or below the OverSold Level it is considered DOWN

- 3. NORMAL usage - use always the true Direction even in OverBought/Sold Level:
- this is a variation of Number 2: simple set the OverBought level above 100 and the Oversold Level below 0

This would allow for the current way as well as implementing your both differences.


In your case you would need to set the:
- Daily STOk to 2. NORMAL usage with the OverBought/Sold Level - I guess 80/20 you use.
- H1 STOk to Option 1: Disregard OverBought/Sold Levels


And if one wants the current way he can just adjust the Ob/Os Level greater than 100 and less than 0

And everyone is happy

I will first do a separate Alert indi only for the STO with this changes and later on implement this in a combined alert like the one you are using now.


Sounds great as usual from you...
No man is free who is not a master of himself. -P.M.-
  • #835
  • Oct 24, 2011 1:05pm Oct 24, 2011 1:05pm
[quote=pmullin86;5066729]I have tried the h1 and h4 but the daily and h1 seems to give better results I guess since the h1 and h4 are so close together but I do use the h1 and h4 moving together for the countertrend entry as there is usually some good momentum when they are together but I had to add the 30 minute as a filter since I noticed a bit of false entries with just those two....and that does make sense to add the five minute 14 stochastic to filter out trades

Im really lovin this momentum idea and your way of trading. + 60 pips so far. Would have made me atleast +10 % with my normal position size today so far, but I trade smaller size now because testing this approach. Still waiting if AU makes another run upwards before NY close. There may not be much room to go up it being so overbought and almost reached its ADR.
  • #836
  • Oct 24, 2011 1:41pm Oct 24, 2011 1:41pm
pmullin86,

I have the first basic version what I said above for 8 STOk now I have to do the other ones down to 1. this takes a little bit and than I will post them here.

You will have to test them yourself: probably easiest way is to use the version with only one STOk first and test all 3 scenarios (even the one you are not so interested in.

If that all works fine try a version with 2 or more just for testing.

remember this are all based on open Values but you can plot them anyway

If you think it does what I proposed ( all 3 scenarios) I will implement them later in a combined Alerter similar to the other but replacing thew old STO. Plus planned to include a level for the M5 (or whatever chart you are on) 14 STOk.
__Thanks__ MJ
  • #837
  • Oct 24, 2011 1:57pm Oct 24, 2011 1:57pm
Sounds good to me...

Quoting M_j
pmullin86,

I have the first basic version what I said above for 8 STOk now I have to do the other ones down to 1. this takes a little bit and than I will post them here.

You will have to test them yourself: probably easiest way is to use the version with only one STOk first and test all 3 scenarios (even the one you are not so interested in.

If that all works fine try a version with 2 or more just for testing.

remember this are all based on open Values but you can plot them anyway

If you think [u]it does what I proposed...
No man is free who is not a master of himself. -P.M.-
  • #838
  • Oct 24, 2011 2:30pm Oct 24, 2011 2:30pm
I decided to upload them to my indi thread: in that case I can easily remove them if you find errors.

My Indicators:http://www.forexfactory.com/showthread.php?t=285687

Post
http://www.forexfactory.com/showthre...35#post5067735
__Thanks__ MJ
  • #839
  • Oct 24, 2011 2:38pm Oct 24, 2011 2:38pm
I've got it and will be forward testing to make sure the extra revisions are working correctly or if I find any other errors I will be sure to let you know....one other thing I'm noticing with the fractals is that unlike semaphors which will repaint and help identify price patterns as far as potential reversal zones and such confluent with higher time frame semaphors and support and resistance which is what most will use it for I think but I am seeing that the fractals are seeming best used to identify the cluster patterns they form if that makes any sense at all...but since they dont repaint like the semaphor (not saying they dont repaint at all) but they remain so close together and seemingly could form some recognizable patterns that may form over and over again if one takes the time to observe and take note of them...maybe...(just in theory so far) I will maybe be able to explain a bit more as I see more,...
No man is free who is not a master of himself. -P.M.-
  • #840
  • Oct 24, 2011 2:53pm Oct 24, 2011 2:53pm
Until now I used mainly my customary advanced ZZ (somewhat similar as the semaphors)

But I like the fact that Fractals do not redraw.
( I know MT4's version does redraw sometimes) but if you use for instance the one from my Indicator packages the will NOT ReDraw - but they paint later. I followed more the Original Bill Williams Trading Chaos Strategy book - with some deviations and customary advanced add-ons.

But basically the main reason I might consider switching somethings to Fractals is that they don't repaint. Not sure yet.
__Thanks__ MJ
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