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Extreme TMA System

  • #2,961
  • Mar 2, 2012 5:16pm Mar 2, 2012 5:16pm
Quoting altoronto
Guys, here is my 2 cents.. let say you are trading on 1min chart with TMA (1min timeframe and halflength 56), to determine trend you can just add another TMA on chart with timeframe set to 15M chart (halflength 56) if higher TMA facing south take only short trades or vice versa for long.
Hi all,

altoronto came up with a great idea that I would like to underline.

The idea is to overlay the TMA from a higher timeframe (just change the input for "TimeFrame") to identify if the pair is trending or ranging. You might miss some trades in the transition period of a trend change from a higher timeframe view, but most of the time you will be more safe and not trading against the higher trend (I think Favorite mentioned several times NOT to trade against the H1 trend...and he is totally right ).

For my template I added the following TMA indicators and made them visible only in the desired timeframe. I also changed the line styles to make them visually differentiable.

 

  1. M15 (15) -> for M1/M5
  2. H1 (60) -> for M15
  3. H4 (240) -> for M30/H1
  4. D1 (1440) -> for H4

My charts looks like below. What do you think, guys?

Attached Image (click to enlarge)
Click to Enlarge Name: tma overlay.jpg Size: 138 KB
  • #2,962
  • Mar 2, 2012 5:17pm Mar 2, 2012 5:17pm
Quoting Favorite
He also said "The bands were about 27 Pips apart"

Al said several times that we shouldn't enter if the distance between the price and the lower/upper band is less than 30 pips.
Good memory, Mike. I was talking of the major pairs like EurUsd because they entail more risk, so a larger reward is in order. On some of the slower, less volatile pairs, you can settle for 20 or 25 pips. Thanks for bringing it up.

Good night.
Observation is the path to discovery.
  • #2,963
  • Mar 2, 2012 5:18pm Mar 2, 2012 5:18pm
Quoting Alorente
Donīt worry Franco. I do not feel you went against me or anybody. I was just telling you my experience with TMATrue. Sometimes written words give the wrong meaning...
Well that's cool, thanx 4 everything , I need my bed , I wish you and you all a tight sleep.

We shall meet on monday

Have a nice week end
  • #2,964
  • Mar 2, 2012 5:24pm Mar 2, 2012 5:24pm
Quoting Alorente
Good memory, Mike. I was talking of the major pairs like EurUsd because they entail more risk, so a larger reward is in order. On some of the slower, less volatile pairs, you can settle for 20 or 25 pips. Thanks for bringing it up.


Quoting Alorente
Good night.
Good night, Al, and take a good rest: this thread needs a strong, healthy and vigorous Al!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,965
  • Mar 2, 2012 5:25pm Mar 2, 2012 5:25pm
Quoting Olarion1975
Hi all,

altoronto came up with a great idea that I would like to underline.

The idea is to overlay the TMA from a higher timeframe (just change the input for "TimeFrame") to identify if the pair is trending or ranging. You might miss some trades in the transition period between long/short and vice versa, but most of the time you will be more safe and not trading against the higher trend (I think Favorite mentioned several times NOT to trade against the H1 trend...and he is totally right ).

For my template I added the following TMA indicators...
I believe it is cool looking, but Iīm not convinced of its usefulness. For example, if you had avoided trades against the H1 trend in your example chart, you would have missed that beautiful long trade (over the green area of the slope indi) when the M15 TMA was actually ranging to slightly higher. I believe the M15 TMA and slope indicator is all we will need to filter out dangerous counter trend trades. We will see as we continue to trade in the days ahead.
Observation is the path to discovery.
  • #2,966
  • Mar 2, 2012 5:27pm Mar 2, 2012 5:27pm
Quoting Surfnomad
Hey Tom I was having the same challege my machine slowed down quite a bit processing all of the calculations the indis do and what I did was went into tools in the top bar (the5th tab over) and went to "options" and then the "charts" tabs and there I reduced my max bars to 5000 (a manual entry) my default setting was like 250,000 and I also reduced my "max bars in chart" to 5000 also which had a default setting of 250,000 as well cause I figured it would reduce the number of bars it had to base the calculations on and it significantly reduced...
Thanks Surfnomad for this advice. I am making the change and will work with it over the weekend. Really appreciate. Tom
  • #2,967
  • Mar 2, 2012 5:57pm Mar 2, 2012 5:57pm
Quoting Jemook
Yo SR it seems my USDJPY pivots are off, or perhaps yours are?

I've got:

R3 81.564
R2 81.378
R1 81.265

Could you please confirm?

Thanks champ
Jem
R3 81.663
R2 81.450
R1 81.318

HrsServerTzFromGMT 0
HrsChoiceTzFromGMT 0

not sure if mine is correct though.

Edit: looks like I am off, just noticed my broker is at +2
  • #2,968
  • Mar 2, 2012 6:15pm Mar 2, 2012 6:15pm
Quoting crodzilla
Those "other indicators" were compiled in a version compatible with 402. I compiled the ExtremeTMA indicator in version 409. The MQ4 people continue to change the language, making new indicators incompatible with older builds.

You can thank the MQ4 people for that.

Carl
This may help others with this problem.
It appears that MT4 LiveUpdate is being thwarted by Win 7.
See here:http://www.forexfactory.com/showthre...79#post4712279
Unfortunately, cannot login now, so anyone attempting this make sure to save login details before trying to update.
Look forward to get your Dashboard running.
Thanks,
EP
  • #2,969
  • Edited 6:32pm Mar 2, 2012 6:22pm | Edited 6:32pm
Hi there,

Does anyone know how many bars the Tma Slope repaints?

Many thanks!!
  • #2,970
  • Mar 2, 2012 6:31pm Mar 2, 2012 6:31pm
Quoting Alorente
I have used the True TMA Indi (Non repainting) for my trading and it is much less effective than the one we use. What is important in trading is the current bar value, which in TMA is precisely correct and the usefulness of the indicator, which in case of our TMA it is obviously useful since it gives us the outer bars that are critical for the system. TMA is the heart of the system and it will not be changed to True TMA just to satisfy the backtesting needs of some.
Ok tma vs tma true is a big debate.As far as i am concerned though tma=tma true at the current bar.So i dont think it will make any difference whether we use tma or tma true,it's the exact same thing when we talk about live trading.So the only reason that you want to use tma instead of tma true is because of the tma slope right?It will show different values?
As for the MPTM EA i think that maybe (if steve hopwood is kind enough),could be tweaked a bit in order to be used as an entry EA as well.But lets first make clear what indis we will use for entry signals because as i see it we change them every day.
And Al,i got confused by your initial post's entry rules a bit because you dont seem to have written MA(5) in your entry rules.Dont you wait for the price to cross MA(5) before you enter?If not,when exactly do you enter?When all the rules are met?
  • #2,971
  • Mar 2, 2012 6:40pm Mar 2, 2012 6:40pm
Quoting Alorente
Hi William,

It was not one of my better days out in the links.

Iīm glad you got it worked out.

I would like to know your thought process when you shorted UsdChf to see how we can change that in the future. If you have a chart, that would be even better. I like discussing trades that went wrong, to try to avoid the same situation happening again in the future. If a mistake is simply forgotten, it remains a mistake. If it is remembered, it becomes a lesson.

Good night, bud.
You know, Alfredo, I don't obsess on losses. That trade is long forgotten. Losses are part of trading. In no way does it reflect poorly on your system.

As I was entering the trade, I heard your voice in the back of my mind "Do not go long the Euro" (correlated). "Do not fight the dollar". I did both. The trade was my fault. As I told you earlier, patience is my problem.

The system is solid. I made two profitable trades afterwards that almost brought me back to even.

No worries, my friend. Have a wonderful weekend.

William
may you find what you seek and trade what you find
  • #2,972
  • Mar 2, 2012 6:47pm Mar 2, 2012 6:47pm
Quoting tomthepoppop
Thanks Surfnomad for this advice. I am making the change and will work with it over the weekend. Really appreciate. Tom
You're welcome I hope it helps

Enjoy your weekend
  • #2,973
  • Mar 2, 2012 6:57pm Mar 2, 2012 6:57pm
Quoting eremix
Ok tma vs tma true is a big debate.As far as i am concerned though tma=tma true at the current bar.So i dont think it will make any difference whether we use tma or tma true,it's the exact same thing when we talk about live trading.So the only reason that you want to use tma instead of tma true is because of the tma slope right?It will show different values?
As for the MPTM EA i think that maybe (if steve hopwood is kind enough),could be tweaked a bit in order to be used as an entry EA as well.But lets first make clear what indis we will use for...
Hello eremix,

I talked to Steve once about incorporating some simple entry rules to MPTM instead of starting from scratch on a system he was working on for me privately. His basic opinion was that MPTM was such a beast, with all the various trade management styles already incorporated (trailing stops, jump stops, hedging, baskets, etc..), that adding entry rules would become unmanageable. However, if we settled on a particular method to manage trades, we could probably copy/paste that portion of the code and add our own entry discipline. Steve is really generous about the use of his ea's. I am sure he would not mind. For anyone interested, the new "home" for MPTM is http://www.stevehopwoodforex.com.

William
may you find what you seek and trade what you find
  • #2,974
  • Mar 2, 2012 7:17pm Mar 2, 2012 7:17pm
Hi everyone,

I am new to trading, and I must say I love this system by Alorente. I must congratulate you for a wonderful thread, and taking the time to help slow learns and newbies like me.. Although I have already managed to blow 2 accounts very quickly, this rollercoaster of trading has been quite frustrating to say the least. I am slowly starting to pick up some basics, and follow most comments on the thread, and thank you for everyones wise imput, and help throughout the days, weeks, and months that this thread has existed. I am starting to slowly feel confident with this system again, and wish everyone the best success, as the thread has many knowledgeable personel, and everyone seems to get along well, which is even better.

As a newbie, and my computer skills being rather poor, I was wondering if someone from this thread, would have an answer for my question. My extreme spike indicator has disapeared, and my Mt4 closed down after loading the indicators on page 1. I have managed to reload but I cannot get Alorente's extreme spike for mt4. If anyone could be so generous as to post this indicator, so I can put it on my platform.
Thank you
Regards
Johnny
  • #2,975
  • Mar 2, 2012 7:32pm Mar 2, 2012 7:32pm
Quoting urulion
As a newbie, and my computer skills being rather poor, I was wondering if someone from this thread, would have an answer for my question. My extreme spike indicator has disapeared, and my Mt4 closed down after loading the indicators on page 1. I have managed to reload but I cannot get Alorente's extreme spike for mt4. If anyone could be so generous as to post this indicator, so I can put it on my platform.
urulion, I can explain what happened. Your old template contained extreme spike, but then Al changed the rules, and with the new rules we don't need extreme spike. Al got rid of the extreme spike and the updated version of the template doesn't contain extreme spike.

So, when you downloaded the updated template and put it into the "Templates" folder, it looked like your extreme spike disappeared.

Once again: please read post number 1, the updated rules, and you'll see that you don't need this indicator anymore. And you just can't see it on your updated template, but it is still in your "Indicators" folder.

But if it is important for you to have this indicator and you think you lost it - here it is:
Attached File(s)
File Type: mq4 Extreme_Spike.mq4   11 KB | 1,081 downloads
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,976
  • Mar 2, 2012 7:49pm Mar 2, 2012 7:49pm
Just a quick note to all those having speed/memory issues with MT4. !ExtremeTMA_V10 should only be attached to one chart which becomes your 'dashboard'. If you have it on too many charts it might be the reason for your system crashing/grinding to a halt.

The only slowdown I've seen so far is with TmaSlope V1.3 it takes about 5 seconds to switch between timeframes on any of my charts. That's not really an issue for me though.

Jem
  • #2,977
  • Mar 2, 2012 9:15pm Mar 2, 2012 9:15pm
Quoting Jemook
Just a quick note to all those having speed/memory issues with MT4. !ExtremeTMA_V10 should only be attached to one chart which becomes your 'dashboard'. If you have it on too many charts it might be the reason for your system crashing/grinding to a halt.

The only slowdown I've seen so far is with TmaSlope V1.3 it takes about 5 seconds to switch between timeframes on any of my charts. That's not really an issue for me though.

Jem
As Jemook said, put the !ExtremeTMA indicator on ONE chart only.

The dashboard will recalculate TMA for ALL pairs once every bar. So, every 1-min bar, 5-min bar, 15-min bar, etc.

So, once the daily bar hits, all timeframes will be calculating all at once. I have an idea to stagger those clusters of re-calcs, based on tick-delays, so that they all don't hit at once.

Carl
  • #2,978
  • Mar 2, 2012 10:28pm Mar 2, 2012 10:28pm
Quoting Favorite
Alorente, thank you very much for opening the thread! Great system!

I always wanted to trade M-15, but guess what? I have a good system for H-1, a good system for M-5, a good system for M-1, but no system for my favorite M-15! But now I feel: that's it! That's what I need for M-15, that's what I was looking for! Thanks a lot!

Can you share with me???Thanks
  • #2,979
  • Mar 2, 2012 10:39pm Mar 2, 2012 10:39pm
Quoting Favorite
urulion, I can explain what happened. Your old template contained extreme spike, but then Al changed the rules, and with the new rules we don't need extreme spike. Al got rid of the extreme spike and the updated version of the template doesn't contain extreme spike.

So, when you downloaded the updated template and put it into the "Templates" folder, it looked like your extreme spike disappeared.

Once again: please read post number 1, the updated rules, and you'll see that you don't need this indicator anymore. And you just can't see it on...
Hi Favorite,
Yes I can see that now, thank you so much for your help...
  • #2,980
  • Mar 2, 2012 10:58pm Mar 2, 2012 10:58pm
So, count me among the many silent followers of this rapidly growing thread. There's a lot of good work by many different people going on here and I hope the central theme of this thread/method stays on point as it seems to be a good 'un!

Though Al has already stated this I want to echo the belief that some sort of decent drop in the S&P Index and, thus, the EUR/USD is imminent. My take....the S&P has been dancing all around 13,000 for several days and today was the first day I see a pretty good divergence in both the Transportation Index an the Small Cap Index. That is, money left both of these today and it's widely held that this plays well for shorts.

As it directly relates to us here is in being extremely careful trying to go long EUR/USD and/or short the USD/CHF or otherwise trying to short the USD. You can be sure that the major market-moving forces don't give a hoot about our (or anyone else's) squiggly lines on a chart. There comes a time when a system simply won't be respected by the market and this doesn't make it the system's fault or Al's fault or any programer's fault.

As happens to so many other System threads here, people (with the best of intentions) are chiming in with various indicators that will help us through any situation the market can throw at us and before long traders become more focused on trying to "best fit" xyz indicator while their original system is cycling back around to it's sweet spot and is spitting out pips. I think successful trader's understand and take advantage of this (hasn't the term "patience" come up once or twice )?

So let us not lose sight of what Al has brought to the table that made this such an explosive thread in the first place. Not only a nice core system but also his ability to share what seems to be a fantastic feel for markets and for trading.
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