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Extreme TMA System

  • #2,761
  • Mar 2, 2012 8:13am Mar 2, 2012 8:13am
Ahh, I'm missing step 3, slope rising and falling...

Need to fix it.

Carl
  • #2,762
  • Mar 2, 2012 8:13am Mar 2, 2012 8:13am
Quoting crodzilla
Price below TMA bands is in the BUY only zone.

Let me take a look at the rules again... just in case I'm not missing something.

Carl
Yup its in the buy zone , but then tmaslope is also saying "Sell only" , cos i think its below -0.5, so both indis are technically sticking to the rules but somewhat confusing .. lolz ..
Attached Image (click to enlarge)
Click to Enlarge Name: tmaslope15m.jpg Size: 126 KB
You gotta know when to hold 'em, know when to fold 'em ...
  • #2,763
  • Mar 2, 2012 8:16am Mar 2, 2012 8:16am
Hi all.
I don't use TMA system fully, but I do use TMA and TMA Slope in conjunction with pattern - setup trading. Today since midnight UK time, USDCHF has been on a well established uptrend. TMA and TMA Slope could have guided us well on long entries. I am attaching a chart to indicate some entry levels, notice when the trend is established, TMA mid -line also serves well for entry/exits, acting as support/Res.

As for me, I took a few longs all with profit, as I earlier said when exchanging opinions with William.

Best Luck for everyone
Rojan
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 24 KB
  • #2,764
  • Mar 2, 2012 8:16am Mar 2, 2012 8:16am
Quoting pipnaija
Attachment
Hi pipnaija, can you post your TORA V2 indicator? i think it is simple enough to make a comparison on the currency strength..


Thx,
Calvin
  • #2,765
  • Mar 2, 2012 8:19am Mar 2, 2012 8:19am
Quoting LuisPrinc
The fact is that TMA SLOPE REPAINT BADLY !!!
I entered short on USD CHF and was ranging... right now the price is the same at R4 and it writes ONLY BUY and it is above 0.5 all candles were repainted.

WARNING: If think we should change this.

What do you think ?
Of course it repaints! It is supposed to repaint! TMA is supposed to repaint (and it makes TMA a great tool) and as a result TMA Slope repaints too. If the trend is so-so then we have very little repainting, the stronger the trend - the bigger repainting. And today we have a very strong trend!

About your short trade: I said it before and I repeat it again: with any system you can't trade M15 against H1's trend! Just CAN'T!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,766
  • Mar 2, 2012 8:21am Mar 2, 2012 8:21am
Quoting LuisPrinc
The fact is that TMA SLOPE REPAINT BADLY !!!
I entered short on USD CHF and was ranging... right now the price is the same at R4 and it writes ONLY BUY and it is above 0.5 all candles were repainted.

WARNING: If think we should change this.

What do you think ?
You also have to look at the value of the tamslope since the difference between ranging and trending is only 0.01. If you enter when it's ranging at 0.49 there is a high possibility that it could change. Don't just follow it blindly, have to first understand the tool before you can use it effectively.
  • #2,767
  • Mar 2, 2012 8:22am Mar 2, 2012 8:22am
Quoting crodzilla
Ahh, I'm missing step 3, slope rising and falling...

Need to fix it.

Carl
...i've also misinterpreted the slope rule. So, in the current EU 15min example,

Rule 1: Bearish Trend - SHORTS only
Rule 2: Waiting for price to cross the upper TMA band
Rule 3: Enter short when TMA Slope prints falling slope values
  • #2,768
  • Mar 2, 2012 8:23am Mar 2, 2012 8:23am
Red HA on USDCHF.
may you find what you seek and trade what you find
  • #2,769
  • Mar 2, 2012 8:23am Mar 2, 2012 8:23am
Quoting nitrate73
Yup its in the buy zone , but then tmaslope is also saying "Sell only" , cos i think its below -0.5, so both indis are technically sticking to the rules but somewhat confusing .. lolz ..
Yes, I need to add if the slope is rising and greater than -.5, then you would have a valid buy signal.

So, I have to add more code for the change in slope.

Carl
  • #2,770
  • Mar 2, 2012 8:25am Mar 2, 2012 8:25am
Quoting sidefx
...i've also misinterpreted the slope rule. So, in the current EU 15min example,

Rule 1: Bearish Trend - SHORTS only
Rule 2: Waiting for price to cross the upper TMA band
Rule 3: Enter short when TMA Slope prints falling slope values
Yes, that is it.
  • #2,771
  • Mar 2, 2012 8:25am Mar 2, 2012 8:25am
no EURUSD 15min longs would have been triggered this session if entering on 5x5 MA touch. no USDCHF 15min shorts would have been triggered this session if entering on 5x5 MA touch. Something to think about.

Also, Carl - you the man. Thanks heaps for your continued efforts - it is great having you on board as you are a fantastic coder. Have you written any algorithms which could help me pick up women?
  • #2,772
  • Mar 2, 2012 8:26am Mar 2, 2012 8:26am
Quoting bluewatercat
William,

"HrsChoiceTzFromGMT" should be set at "0" --- Correct.

"HrsServerTzFromGMT" from 2 (default) --- I believe the default for this one is "0" from what I see. Did you perhaps change the wrong value?

Which broker are you using?

Greg
Hello Greg,

When I installed the zip and opened the tab you show, mine is prefilled with"2". My broker is FXCM UK.

Thanks for your post.

William
may you find what you seek and trade what you find
  • #2,773
  • Mar 2, 2012 8:51am Mar 2, 2012 8:51am
Again out on usd chf short -20.
Was it a valid signal or what ? I dont understand There was R4 so it must be a short with tma sloping down. ? well now what ?
  • #2,774
  • Mar 2, 2012 8:52am Mar 2, 2012 8:52am
About your short trade: I said it before and I repeat it again: with any system you can't trade M15 against H1's trend! Just CAN'T![/quote]

So True,

What would also be a great addition, in my opinion, to the !ExtremeTMA indicator would confirmation of where the TMA lines are heading in the H1 time frame!

Is it possible to include this feature? It would be great to see at a glance in which direction the H1TMA lines are heading and then time and enter 15 minute trades accordingly!
  • #2,775
  • Mar 2, 2012 8:57am Mar 2, 2012 8:57am
Just a little curious - am I the only person on this thread who isn`t raking in the pips??

In fact, the only ones I`ve managed today have been by doing the exact opposite of the Dashboard and riding the trends!

Oh well, more studying, patience and discipline for me ...
Make things as simple as possible, but not simpler!
  • #2,776
  • Mar 2, 2012 9:00am Mar 2, 2012 9:00am
Quoting LuisPrinc
Again out on usd chf short -20.
Was it a valid signal or what ? I dont understand There was R4 so it must be a short with tma sloping down. ? well now what ?
Hi,

USDCHF has been very strong today, I wouldn't go short before seeing some Lower High or break down. There were signs of exhaustion earlier, but soon broke up again for a new hod.

Good Luck next time
Rojan
  • #2,777
  • Mar 2, 2012 9:05am Mar 2, 2012 9:05am
Quoting SoF29
Just a little curious - am I the only person on this thread who isn`t raking in the pips?? ........
It is in fact a great system, most of all, it keeps out of bad trading.
I only saw 2 great opportunities today and nailed only one.

SHORT - USDCAD bellow R1
LONG - GBPJPY above FPV

Both with TMA divergences at "Ranging" condition.
  • #2,778
  • Mar 2, 2012 9:06am Mar 2, 2012 9:06am
Quoting LuisPrinc
Again out on usd chf short -20.
Was it a valid signal or what ? I dont understand There was R4 so it must be a short with tma sloping down. ? well now what ?
There are profitable, purely mechanical systems out there, but your system here is not one of them because it relies on "other factors". There really should be an Entry Rule #5 that says something like:

Trader discretion trumps rules 1-4. Even if rules 1-4 are met, the trader must take into account other relevant aspects of the market before pulling the trigger or exiting a position. From what I have read of this thread, Alorente has hinted at this many times.

Unfortunately there are an almost unlimited number of these market factors, some have been mentioned in this thread previously: news, higher timeframe trend, currency index trend, trader spidey senses, etc.

Good luck.

Edit: And, unfortunately, most are spending so much time messing with the indicators they have completely ignored the most important parts of the strategy.
  • #2,779
  • Mar 2, 2012 9:08am Mar 2, 2012 9:08am
Quoting SoF29
Just a little curious - am I the only person on this thread who isn`t raking in the pips??

In fact, the only ones I`ve managed today have been by doing the exact opposite of the Dashboard and riding the trends!

Oh well, more studying, patience and discipline for me ...
I think a lot of people are going to get stuck when everything flattens out (range mode) and then the market starts trending again. The reason for this is while we are in range mode we can take trades (as long as they align with the rules) in either direction but this becomes an issue when we take the first trade aiming for a bounce off support or resistance but price will just plows on through without a retracement.

Also with the recovery system if I took the first trade of EURUSD at S1 long I would now be -100pips at S4 but I wouldn't be able to take any more long trades north because we are in SELL ONLY MODE. I'm not sure how I would be using recovery with this system to get out of a bad trade if I can't go long until we go back to range mode. If this is the start of a big move it could be a couple of days before we go back into range mode where my 2nd (recovery) long trade would be permitted..
  • #2,780
  • Mar 2, 2012 9:20am Mar 2, 2012 9:20am
Quoting zznbrm
There are profitable, purely mechanical systems out there, but your system here is not one of them because it relies on "other factors". There really should be an Entry Rule #5 that says something like:

Trader discretion trumps rules 1-4. Even if rules 1-4 are met, the trader must take into account other relevant aspects of the market before pulling the trigger or exiting a position. From what I have read of this thread, Alorente has hinted at this many times.

Unfortunately there are an almost unlimited number of these market factors, some...
This is so very true. The edge I see here is not in any of the indicators but these market factors you mentioned above. Learn to know those factors and you will be able to trade with any indicator, because you are not relying on the indies.

unfortunately, those market factors cannot be learned at a go or in one thread, they come with time and practice.

kos
John 3:16 - From THIS love no power on earth can me sever.
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