MJ - My Indicators

Continuation from previous pic

Price moved back below DPP full Projection: (if it holds it was quite an ok projection (not even 10% off)

1. Only Down Entry Direction Sign

2. Red DDPip Actual Block: moved already nearly 10% beyond the projection this will stay red till the end of the day as it only can increase.

3. DeepSkyBlue PipsTo DDPHi | Lo block: changed from red back to DeepSkyBlue as it is not anymore negative.

Close to an major issue:

Sometimes the Price moves so far outside the Full Day Price Projection that a proper display of most of the DPP Lines is not anymore possible. Well I can display them but it gets so confusing that defeat the purpose of the indicators lines.

The problem are that the two Goldenrod Line are nearly overlapping. In the next picture they actually move opposite side: the Hi is below the Lo.

In such cases I plot only the DDP middle line (Silver Line on 2. pic) and hid all other DPP lines. The text info will still be on as the info is clear.

The previous days HiLo and Current Day Hi Lo are still plotted as they are not confusing.

And two finishing picts:


Last pic are default colors.

This new version: with the Entry Direction Sign is not yet uploaded: but most of the other stuff applies also the the one in the uploaded indi back.

NEXT PLANS:

1. for now I abandoned the Fractial ZigZag

2. do Chart Version: ALERT MA Direction (I have already MA stuck order)
3. do MTFSame interval Version: ALERT MA Direction (I have already MA stuck order)
4. do Chart Version: ONLY ALERT: 2-18STOk Order (Spud's Stochastic Rope)
5. do MTFSame interval Version: ONLY ALERT: 2-18STOk Order (Spud's Stochastic Rope)


6. maybe Chart and MTF versions Stok Overbought/Oversold area

7. Do some Multi combination Alerter.

Did a version which only plots the DPP EntryDirectionIcon

Did the MA(SMA/EMA) Direction Up Down indi.

This is different than the MA Order indies: e.g. MA Direction one can have even with one MA Line: Ma stuck Order need at least 2 MA's to compare to

MA Direction will probably be more helpful using not so close by MA's like I do in the default.

ALERT OPTION: UP: ALL MA point up. DOWN: ALL MA point down.

1. pic uses the 8MA: EmptySubWindow indicator to plot the VLine Alert in a separate SubWindow

2. pic uses only 2 MA and Alerts the Vline normal: but only once per direction change

3. pic is the ONLY ALERT indi which has no plot option: if one only needs the alert this is slightly faster and resource friendly: and also a little bit simpler to configure.

And the MTF MA Direction one


I will post them all when I update the indi package next time.

I'm busy with none trading stuff: but had a couple of good ideas.

To implement something like a way to manually configure the indi from a text file.
After searching I found that: a nice FF coder: hanover does something in that way. some of his indi: http://www.forexfactory.com/showthread.php?t=163158

Anyway: I did plan something along this lines.

Basically I find it easier to configure an indi in a text file that in the MT4 input panel. Probably this will break all existing templates.
I don't really mind as I program this 95 % for me and share it only in case someone else finds it useful too.

This thread is at the moment on hold.

I wuploaded the changes I did (new stuff and some error fixing) after 3.Sept 2011 post Nr.145

mainly:
DPP - Indicator: Improved DAY Price Projection indi
DPPEntryDirectionIcon NEW
MA Direction UpDn NEW
MTF MA Direction UpDn NEW
STOk Order Alerts (this is quite different from Stok UpDn Alert) I thin it is also NEW (No MTF YET)

Some Fixes




Download from First Post: Attached Files
20111015__155_Indi_Part1.zip (1.70 MB, 0 views)
20111015__155_Indi_Part2.zip (2.92 MB, 0 views)
20111015__155_Indi_Part3.zip (3.18 MB, 0 views)
20111015__155_Indi_Part4.zip (1.63 MB, 0 views)
20111015__MJIndicatorHelpFiles.zip (1.26 MB, 0 views)
UNSUPORTED_MAYBEUSEFUL__Indicators.zip (645.6 KB, 0 views)


HAPPY TRADING

MJ

I will upload the changes I did (new stuff and some error fixing) after 3.Sept 2011 post Nr.145

mainly:
DPP - Indicator: Improved DAY Price Projection indi
DPPEntryDirectionIcon NEW
MA Direction UpDn NEW
MTF MA Direction UpDn NEW
STOk Order Alerts (this is quite different from Stok UpDn Alert) I think it is also NEW (No MTF YET)

Some Fixes

Saw a couple of small errors in some indi:

e.g. The Chart Version of ALopSTOkUpDn
Alert: STOk Direction UpDn - has an option to disable the plotting of the Stochastic - but it is not implemented -- not a big deal and the alert should be anyway ok but still something I oversaw.

Did some General changes which effects all indicators:

1.
Removed the need to specify the: Full path to the MT4 installation folder

COMMON INPUT VARIABLES Option: sExtMT4InstallationPath


This will make the use of a lot templates easier.



--- I will post the changes it when I post the next bigger updated

Hi MJ
I have difficulty reading normal candle charts, I use range bars which are easier to understand, can you suggest me a simple indicator based system that I could use to trade. appreciate your help

hi forexzak,
you are asking something quite difficult:

Each trader is different and I believe the most important thing is that you find something you are 'more or less' confident in (I say more of less because I never found a trading approach I'm 100 confident in each one has it's up and downs at least in my opinion)

So, I can only share what at the moment I would trade but it's not just 'SIMPLE'. It's a lot of info and in the end I will summarize.



1. I like MTF trading systems
2. I like Stochastics, MTF Stochastics
I used a long time stochastics as the only indicator but by now I feel that it should be combined with other approaches too.

3. I like MA, MTF MA
4. I like my DPP indicator which is somewhat similar to ATR
5. round numbers indicator
....etc...

Basically, I would trade a combination of:


STOCHASTIC and MTF-STOCHASTIC
1.
Spud's Predictive MTF Stochastics:
http://www.forexfactory.com/showthread.php?t=119483
There is much info in this thread also partially covering the next two.

2.
Spud's Stochastic ROPE:
http://www.forexfactory.com/showthread.php?t=37111

3.Spud's MTF The Escalator to Pips Strategy
http://www.forexfactory.com/showthread.php?t=36574

MA and MTF-MA
1.
5Min Intraday System
http://www.forexfactory.com/showthread.php?t=11854

2.
5-min PASS (Price Action Scalper System)
http://www.forexfactory.com/showthread.php?t=280881
5-min PASS (Price Action Scalper System) SIGNAL
http://www.forexfactory.com/showthread.php?t=312445

3.
4 Hour Strategy (MACD)
http://www.forexfactory.com/showthread.php?t=14630(mainly the Ma info - because I still focus more on Stochastic than MACD (but Macd is also interesting)

4.
I also would suggest the video courses of 'Hector De Ville'
* Hector De Ville: Forex Trading Course
* Hector De Ville: Learn Forex Live

I enjoyed his accent and the way he presented his trading style.
I do not particularly like how he presents his buy options on the internet.


ZZ - Fractals - Higher High, Lower Low - Candle Stick Chart Reading - trendlines.
1. Higher low, lower high system:
http://www.forexfactory.com/showthread.php?t=108544

2.
5Min Intraday System
http://www.forexfactory.com/showthread.php?t=11854

We had that already with the MA but I think it fits well also into here

3.
we had that also under MA but it fits well under HH, LL and Trendlines.

I also would suggest the video courses of 'Hector De Ville'
* Hector De Ville: Forex Trading Course
* Hector De Ville: Learn Forex Live

I enjoyed his accent and the way he presented his trading style.
I do not particularly like how he presents his buy options on the internet.


OTHER RELATED Stuff
1. DPP - Day Price Projection
A indi from me - you can read up a bit in this thread about it

2.
SpacedLines indicator: Round Numbers
I use my: SpacedLines indi for that



So more or less I trade a combination of this stuff.

I will summarize it in the next post

Summarize it more simple:


Basically the closest to what I would trade is:
pmullin86's thread:
On My Way To The Top:
http://www.forexfactory.com/showthread.php?t=283291

Hi pmullin86 please be not offended when I point out some of the things I do not like so much (maybe I anyway misinterpret some of the stuff), maybe you take some of this as suggestion of my ideas. Well each one is anyway different.


1. I like his general use of the MTF Stochastic
I probably do it slightly different but all in all I like it

2. I like his general use of the MA
I personally feel that I would probably give some more consideration to the MA (also I'm inclined in using MTF-Mas)

3. I like his usage of the Stochastic Rope

4. I don't particularly like the many counter trend trades and prefer trading trend continuation trades.
(BTW: in my opinion with a MTF setup it is not so easy to say - Where the trend is and what a counter trend is - so for me it is more previous definition: e.g. MA stack ect.. and than try to stick with it)

5. I definitely would not open so many similar positions at the same time.

6. OpenBar Value base indicators:
I really believe (even not much tested yet and I might change my mind later on) that switching to use indicator based on Open Bar values like most in this thread will help to see more correctly what's the real deal.

This is especially true for:
- Past data and not so much for real trading with live data.
- and MTF indicators

for some thoughts read: MTF Alerter and ChartDisplay thoughts! http://www.forexfactory.com/showthread.php?t=287188


7. BTW: I might look again into his usage of the pivot etc.. not sure yet



I guess that's the main thing:

If you want my personal advice:
I would study all the threads and the video suggestion from my previous post - it's a lot and it will depend on your previous experience and knowledge how fast you can absorb them.

I traded the stock market, and a little bit futures years ago and since nearly 7 years forex. (with some breaks like now) I often skip parts of a thread and try to only read the main parts I'm interested in - but if one is new read a lot as you learn to see what fit's your thought pattern and what does not fit your trading ideas.


The closest you can get what I would suggest in a single thread:
is pmullin86's excellent thread
On My Way To The Top:
http://www.forexfactory.com/showthread.php?t=283291

To keep it simple for a start (until you studied the info I posted before)
I would suggest this changes or simplifications:


1. focus just on one thing
Trend Continuation trades. Don't trade counter trends

2. for the start I would stick with his usage of normal Stochastic and MA's just not to make it more complicated but
if you are able to translate his ideas to open bar value based indicators - I would definitely switch to such Stochastic and MAs you can download from here.

3. Don't open many simulations trades.
You don't have to make 30% each week and come to the point when you make in a week 10% you call it: just +10%

As long as you get out positive it's just like that - positive

the only question is if the time invested is worth the 'positive result'
- which it is only if you earn a reasonable % per year in relation to the invested time.


BTW:
if you start with 1000$ and make each week really 10% you are a rich person very soon.

In one years time you should have about 130.000$

and in two years you would have about: 2.0176.195$

(I used the compound calculator from Chaffcomb A very good page with interesting infos of a professional trader with many years related work experience.)
http://www.futurestech.com.au/Compounding.htm



All in all I would suggest pmullin86's excellent thread On My Way To The Top:
http://www.forexfactory.com/showthread.php?t=283291

as the closest thread I would trade myself with a number of modification.

And don't get greedy - just stick with it in a modest, humble way and compound your positive results.



If you want to tray a much more simple approach you would maybe suggest to look at:
Spud's MTF The Escalator to Pips Strategy
http://www.forexfactory.com/showthread.php?t=36574

Like I said, at the time I feel it is better to use a combined approach as I tried to suggest - but this might be a starting point for a simple partial approach.


Also the:
I also would suggest the video courses of 'Hector De Ville'
* Hector De Ville: Forex Trading Course
* Hector De Ville: Learn Forex Live

I enjoyed his accent and the way he presented his trading style.
I do not particularly like how he presents his buy options on the internet.


hi pmullin86:
don't take this as a critic, but your thread is just the best to explain how I feel at the moment about trading approaches - I really like how you came around and it seems you found your personal approach.

Congratulation, maybe there are even some small parts I wrote which might stimulate you for your own trading way.

Anyway: hope you are soon feeling better my friend...

Fixed this missing options in the Chart version Alerters:

- ALopSTOkUpDn
- ALopSTOkOrder

will post it with the next update

M_J

Thank you soo much for taking time and guiding, you have provided tons of indicators and information on your thread and this explanations now can help me in greate deal. Thank yo again

You are welcomed - wish you much success and especially endurance