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Trading Made Simple for Day Charts

  • #121
  • Jan 2, 2012 3:36am Jan 2, 2012 3:36am
Quoting migmac
willf

can you please explain why do you think this TDI indicator is more reliable than the original TDI indicator of the TMS thread?

thank you
The original TDI indicator would often need refreshing. At the end of a bar it may show a signal but on refresh it showed no cross. Xaphods version moves real time and doesn't need refreshing.
  • #122
  • Jan 2, 2012 4:55am Jan 2, 2012 4:55am
Quoting willf
The original TDI indicator would often need refreshing. At the end of a bar it may show a signal but on refresh it showed no cross. Xaphods version moves real time and doesn't need refreshing.
Thank you for this information I will test Xaphods version.
  • #123
  • Jan 2, 2012 4:58am Jan 2, 2012 4:58am
Quoting Britpip7
Here's one to watch - candle closed above 5ema followed by an additional bear candle and a Fractal Up break.

May be too late to hit this, and I do not enter mid way through the candle (something for review as this thread progresses) so worth watching over Sunday/Monday for continuation to see if breaks the recent trading range.
I use the TDI Red Green.mq4 and it the same as the TDI watchdog ..but noticed that the TDI watchdog is kinda more sofisticated with information....nice one...
heres what i dont understand:
Whats the SLOPE..is it the slope of the last TDI cross or just the slope of the TDI trend

Franklin
  • #124
  • Jan 2, 2012 9:35am Jan 2, 2012 9:35am
Quoting acosma
Hi to all,
for fractal-break on a daily chart you wait for close of the candle above/below the fractal or simply you wait for the price go above/below by some pips and put pending order?

if you put pending order how much distance from the fractal on the daily chart? 5 or 10 pips ?


thank you.


Andrea.
Hi Andrea

If it is a trend pause I will enter on the break and not wait for the candle to close.

If it is a range set of fractals as in the eur/usd at the moment, I'll wait for a candle close. The eur/usd will be the subject of another post today.

Pending trades are set to at least 10 pips above /below the fractals - if there is a significant Big Round Number, I will set 15 pips above below the BRN.
"To live with Passion, it takes Courage and Grace to survive"
  • #125
  • Jan 2, 2012 9:38am Jan 2, 2012 9:38am
Quoting smatthew
Entered three new demo trades.

Three other demo trades still open (Screenshot shows H1, but that's just for monitoring. All trades taken on D1).

Just noticed the bank holidays on the frontpage ..
Nothing happening today - normality should return tomorrow - volumes and news should promote movement.

Warning - Friday - Non Farm Payroll
"To live with Passion, it takes Courage and Grace to survive"
  • #126
  • Jan 2, 2012 9:44am Jan 2, 2012 9:44am
Quoting Britpip7
Nothing happening today - normality should return tomorrow - volumes and news should promote movement.

Warning - Friday - Non Farm Payroll
Thanks for the headsup on Non Farm.
I'm going to configure a reminder in my phone for that news beast
Attached Image (click to enlarge)
Click to Enlarge Name: nothing happening indeed.PNG Size: 92 KB
Financial independence is what I live for
  • #127
  • Jan 2, 2012 9:44am Jan 2, 2012 9:44am
Quoting migmac
Thank you for this information I will test Xaphods version.
Xaphod did update all of the TMS related indicators and pulled these from a variety of sources- make sure you download the latest versions - here is page 1 of his thread
http://www.forexfactory.com/showthre...40#post4619540
"To live with Passion, it takes Courage and Grace to survive"
  • #128
  • Jan 2, 2012 10:05am Jan 2, 2012 10:05am
Quoting angelo5uk
I use the TDI Red Green.mq4 and it the same as the TDI watchdog ..but noticed that the TDI watchdog is kinda more sofisticated with information....nice one...
heres what i dont understand:
Whats the SLOPE..is it the slope of the last TDI cross or just the slope of the TDI trend

Franklin
TDI Watchdog - the slope is showing you the angle of the TDI / associated cross / bounce.

The theory is that the slope value for a cross should be above 4.5 - the values shown represent the TDI slope for the current candle and previous candle.

The screenshot shows the watchdog settings.

For a bounce the value shoul be at least 3.0.
Attached Image (click to enlarge)
Click to Enlarge Name: TDI Slope.gif Size: 55 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #129
  • Jan 2, 2012 10:25am Jan 2, 2012 10:25am
hey Britpip

Nice thread.
I'm subscribed
Will be following closely to learn more.
I think forex factory is been overtaken by Big E's methods LOL
Wish you a pipful 2012

Regards
X-man
X-man the legendary conqueror of markets
  • #130
  • Jan 2, 2012 11:16am Jan 2, 2012 11:16am
Quoting X-Man
hey Britpip

Nice thread.
I'm subscribed
Will be following closely to learn more.
I think forex factory is been overtaken by Big E's methods LOL
Wish you a pipful 2012

Regards
X-man
Greeting X-Man - nice to see you here - welcome and Happy New Year.

Well, between our respective threads, we should be able to bring in some pips in 2012.

Long live Big E's teachings
"To live with Passion, it takes Courage and Grace to survive"
  • #131
  • Jan 2, 2012 12:03pm Jan 2, 2012 12:03pm
Quoting Britpip7
TDI Watchdog - the slope is showing you the angle of the TDI / associated cross / bounce.

The theory is that the slope value for a cross should be above 4.5 - the values shown represent the TDI slope for the current candle and previous candle.

The screenshot shows the watchdog settings.

For a bounce the value shoul be at least 3.0.
Many thanks for the clarification. Its going to be very helpful.. Big E said so many things about angle of cross/bounce and also exiting when TDI goes flat..
Could you plz give me a weblink where i can read more about the TDI Watchdog indicator....i need to know more about it plz
  • #132
  • Jan 2, 2012 12:17pm Jan 2, 2012 12:17pm
Quoting angelo5uk
Many thanks for the clarification. Its going to be very helpful.. Big E said so many things about angle of cross/bounce and also exiting when TDI goes flat..
Could you plz give me a weblink where i can read more about the TDI Watchdog indicator....i need to know more about it plz
I picked up this indicator as it evolved in the TMS thread, Dean Malone (Compass FX) and Xaphod's posts, so only really using it as originally prescribed from their info.

When all else fails - try the search function in FF or Google it.
"To live with Passion, it takes Courage and Grace to survive"
  • #133
  • Jan 2, 2012 12:30pm Jan 2, 2012 12:30pm
A quick update on the current status of this trade from Friday.

Today (Monday 2nd Jan 2012) was a global holiday for the markets and there was little movement.

On the attached chart (AUD/CAD daily):

  1. Current candle is still bullish
  2. TDI indicator continues to climb although starting to flatten
  3. Stochastics continues to climb.

Trade is +51 pips at present.
Stop loss has been moved to B/E


Wait and see what tomorrow brings.

Attached Image (click to enlarge)
Click to Enlarge Name: CADCHF Daily update 2nd Jan 2012.jpg Size: 93 KB
  • #134
  • Jan 2, 2012 1:46pm Jan 2, 2012 1:46pm
Trade entered on 12/28 on Fractal Break - this was a later entry - could have taken the previous Fractal break (rectangle) which co-coincided with the TDI Bounce on 12/16, but missed it!

Usual trade entry - two trades opened - SL & TP1 set to 2XATR(7), TP2 left open but with same SL. TS of 100 deployed.

With any trend runs, a pause followed by a Fractal Break can be good for entries / add-ons. As a trend run gets longer, be aware that it could be nearing exhaustion, especially when it is running into previous S/R levels (see the ellipse). Watch for the TDI Down Zone line to continue with the trend. If the RSI Price Line breaks the TDI Down Zone, stay with it.

Still watching for reversal signs, and previous patterns, so currently no indications that this will do anything but continue (famous last words!). Lower volumes today and no news, so basically prices are drifting. Not much Forex news on these pairs for the next few days, so other Euro Zone news will probably be the driving factor. As usual, following PA and not talking heads, etc.

Currently 112pips of profit locked with the TS on both trades
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd 1-2-2012.gif Size: 34 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #135
  • Jan 2, 2012 1:47pm Jan 2, 2012 1:47pm
Quoting angelo5uk
Many thanks for the clarification. Its going to be very helpful.. Big E said so many things about angle of cross/bounce and also exiting when TDI goes flat..
Could you plz give me a weblink where i can read more about the TDI Watchdog indicator....i need to know more about it plz
Indicators for the 'Trading Made Simple' system

go for it

It takes a lot for me to IGNORE you, but you can try.
  • #136
  • Jan 2, 2012 2:00pm Jan 2, 2012 2:00pm
Quoting Britpip7
I picked up this indicator as it evolved in the TMS thread, Dean Malone (Compass FX) and Xaphod's posts, so only really using it as originally prescribed from their info.

When all else fails - try the search function in FF or Google it.

Help, mine doesnt show well...i think theres an error somewhere...or perhaps im using an old version
Attached Image
  • #137
  • Jan 2, 2012 2:36pm Jan 2, 2012 2:36pm
Quoting angelo5uk
Help, mine doesnt show well...i think theres an error somewhere...or perhaps im using an old version
This will be the full extent of my knowledge on this.

Here is a series of screenshots showing my TDI Watchdog settings. This took me some considerable time to arrive at and are unique to the way I use this indicator. Feel free to experiment / modify alerts / fonts / colours, etc. This is the is the only way to learn!

You will also need to set your "Chart Shift" so that the text does not over write the TDI chart lines.

Good Luck
Attached File(s)
File Type: pdf TMS Watchdog settings - Britpip7.pdf   89 KB | 2,570 downloads
"To live with Passion, it takes Courage and Grace to survive"
  • #138
  • Edited 5:07pm Jan 2, 2012 3:51pm | Edited 5:07pm
Quoting angelo5uk
Help, mine doesnt show well...i think theres an error somewhere...or perhaps im using an old version
In regards to the "overwriting", this often happens if you have used a template to set up that screen ... If you have, then on the pair you're on either:

1. Try changing your chart timeframe to match the templates timeframe, then change back
2. If that doesn't work, go into watchdog settings, set currency pair and timeframe to same as original template, then ok onto screen - watchdog will now show something in yellow writing in top right (e.g. EURUSD (H1) ). Go back into watchdog settings, change pair to "Current Symbol" and timeframe back to 0, ok out, should be correct now.

If you've got the template from someone else, best to ditch using it and set up the screen new yourself.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #139
  • Jan 2, 2012 10:43pm Jan 2, 2012 10:43pm
Having completed some relatively small volumes of backtesting, I thought I would offer this up to the group for comment.

Currently I am entering with two trades for each entry.

For trend reversals and trend continuations, my entry SL on the 1st trade and TP1 is set to 2XATR(7) with a TS of 100pips (This may need to opened up more where the ATR(7) > 100pips).

For the 2nd trade, my SL is set to 2XATR(7) and my goal is to achieve a minimum of 4XATR(7) with the following process for managing the TP2 trade (using my current open trade on eur/nzd as the working example):

1. leave the entry SL in place until a minimum of 100pips profit is achieved and the trailing wick (H) has cleared the entry point.
2. At the end of each day, move the SL manually to the previous day's candle High (wick, not the candle body).
3. Keep doing this until a pullback finally takes you out (similar to the Dean Malone approach) - OR
4. When the candles show the trend is slowing / consolidation / possible reversal, consider switching to a TS based off of the ATR(7) - still under development, but initial backtesting shows a minimum of 1.25XATR(7) - all depends on which candle you use to calculate this - so this approach needs further forward testing in a demo account.

From dcginc's approach, for reversal, he runs with the entry SL on the 1st trade and TP1 is set to 2XATR(7). TP2 is set to 4XATR(7) and when TP1 is hit, the TP2 SL is moved to BE. TP2 can then be managed or left to run. In ranging markets, he trades on lower timeframes and reduces the TP levels accordingly.

The chart is showing TP1 running with 100pip SL and TP2 manually adjusted per point #2 above (they are both very close to each other, but hopefully gets the idea across).
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd 1-2 moving SL and TS.gif Size: 33 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #140
  • Jan 3, 2012 1:25am Jan 3, 2012 1:25am
I like the look of the daily chart setup (EUR/USD)for a long trade and have entered at 1.2991.

The weekly bias is still short but the daily chart offers supporting evidence to the TDI cross that gave me the confidence to take this trade.

My stop is at the last swing low (1.2900)

Let's see how it goes...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Daily Entry 030112.jpg Size: 62 KB
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