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Extreme TMA System

  • #4,721
  • Mar 9, 2012 1:21pm Mar 9, 2012 1:21pm
Quoting Riddermark
I need some confirmation on the GMT setting for the pivots for my broker. I use Oanda and according to thier FAQ thier GMT offset is GMT -5.

Does this mean that I go into the "THV4 TzPivotsD (Black)" indicator and change "HrsServerTzFromGMT" setting to -5 ? It's currently set at 2, I assume that is the default.

This has to make a big difference in pivots levels because I played around with the AUD/USD pair pivot settings switching it back and forth from 2 to -5 and the pip difference in pivot levels was over 20 pips!

Thanks for your help....
Riddermark,

I could not find Oanda's GMT offset on their website, so I opened a live chat with an operator. She confirmed that their GMT offset for the MT4 platform is GMT-5. So that should do it.

William
may you find what you seek and trade what you find
  • #4,722
  • Mar 9, 2012 1:23pm Mar 9, 2012 1:23pm
Quoting faxxion
Hello PeepCzar,

The EA's will not be loaded to a chart unless you open the Experts, click and drag them on to a chart. Otherwise, they are a non-issue.

William
Another option could be disabling the Expert Advisors button before closing MT4.
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  • #4,723
  • Mar 9, 2012 1:25pm Mar 9, 2012 1:25pm
Quoting beto21_cwb
Another option could be disabling the Expert Advisors button before closing MT4.
Hello Beto,

Thank you very much.

William
may you find what you seek and trade what you find
  • #4,724
  • Mar 9, 2012 2:08pm Mar 9, 2012 2:08pm
Quoting faxxion
Riddermark,

I could not find Oanda's GMT offset on their website, so I opened a live chat with an operator. She confirmed that their GMT offset for the MT4 platform is GMT-5. So that should do it.

William
Thanks for your assistance. Greatly appreciated.
  • #4,725
  • Mar 9, 2012 2:19pm Mar 9, 2012 2:19pm
Quoting normtold
Ever E Man, thank-you for writing that long and detailed post.There really are a lot of things to consider before entering a trade that I had no idea about before.There is a lot of information in your post, I have saved it so that I can read it again and again.It just shows we are all at very different levels of competency here in this thread, many are confident in their knowledge and ability but many are well down on the ladder to success.
You're very welcome. Let me know if there is any thing else that I can bore you with!

There is always more to learn about the markets, and no easy way to learn it. But you might consider that you don't need to know everything to trade successfully.

You do need to know the nuts and bolts, but I can tell you from experience that pursuing knowledge about trading, or how the markets work, will not make you successful at trading.

Al, Carl, Sharooz, Paradox, Mike and the other trader/developers are tightly focussed on developing this system, and Al, also, has other systems that he wants to deveolp.

So, if they seem to miss your questions, it's because they are very limited on time.

They might not be able to answer questions that are very elementary, especially the ones that show up again and again.

Sometimes, they just answered a question a few pages back, so new followers might try searching the thread first before asking.

And if you get really desperate, you can always ask me, but you do run the risk that I'll tell you far more than you ever wanted to know about whatever you wanted to know!

Al's signature betrays his long years of experience - "Observation is the path to discovery." and it is the best approach to learning to trade.

Good luck and best regards to all newbies! We were all there at one time!
The mind thinks, the heart knows...
  • #4,726
  • Mar 9, 2012 3:10pm Mar 9, 2012 3:10pm
Quoting Ever E. Man
if they seem to miss your questions, it's because they are very limited on time.

They might not be able to answer questions that are very elementary, especially the ones that show up again and again.

Sometimes, they just answered a question a few pages back, so new followers might try searching the thread first before asking.

And if you get really desperate, you can always ask me, but you do run the risk that I'll tell you far more than you ever wanted to know about whatever you wanted to know!
Of course, Al and our programmers work very hard and I feel I'm very lazy comparing to them, but you know, Ever E. Man, you're so right about me too! Of course, we all try to fine-tune the system, we all trade and at the same time do the testing, but I also have an "Extreme TMA" thread at the Russian forum, so the last two weeks I keep running back and forth, from this thread to the Russian thread and back. Went overthere - have to publish all the news from this thread, answer the questions and PMs, went back - have to read another 10-15 new pages! And this Russian thread also keeps growing - it is more than 800 posts already! So now I really understand what Al feels managing this almost 5000 posts' thread!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #4,727
  • Mar 9, 2012 3:46pm Mar 9, 2012 3:46pm
Quoting beto21_cwb
I'm sorry if this post is a bit off topic, but I found something interesting and I'd like to share it with you all.

I have always been skeptical about Fibonacci "magic" stuff, but as Al showed us how important the Fibonacci Pivot Points are, I decided to analyze how Fibonacci retracement was "behaving" in some charts.

And, to my surprise, the very first one, was interesting. Please, see the attached chart of EUR/USD H1.

I'm amazed of how PA "obeys" Fibonacci retracement levels. Maybe that's just a coincidence, or maybe the big guys do...
Congratulations! You've just re-invented the wheel! It's always exciting to discover something new that works!

No offense intended, of course, it's just that, fibs have been around for a very long time, and they are powerful, as you said. And for that reason they've been popular with retail traders and pros alike for a very long time.

The same could be said for Gartley's, Darvas' boxes, Renko charts, and an almost endless procession of other tools.

That can be a problem, though, because too many tools can lead to the dreaded "indicator overload!" Too much analysis and too many indicators obfuscates the human mind, or at least it does mine!

Too much complexity may confuse more than it elucidates, especially on charts. ( I think I've just confused myself! )

It, also, (according to Nassim Taleb) makes for a fragile, instead of robust, system, subject to the dreaded "black swam events!"

The system these guys have worked very hard to come up with already produces a very high win rate, and tinkering with it just might degrade its effectiveness.

I think what they're trying to do now, if I understand it correctly, is to improve its ease of use, test it thoroughly on both ranging and trending markets, and add an effective and easy-to-use money management system.

Good Lord! What more could we want????

I suspect that new indicators will only be considered if a problem arises with the current system that needs adjustment, and that may, or may not, be necessary until, or when, something changes in the market, if at all.

Still, you can run it up the flag pole and see what the guru thinks. I'll bet you dollars to donuts, though, that Al already knows fibs up one side and down the other. He's been at this a very long time. Al's the only judge, though! So, fire away!

Offer the great Karnak the answer, and see if he can provide the necessity. May he live long and prosper.
The mind thinks, the heart knows...
  • #4,728
  • Mar 9, 2012 4:03pm Mar 9, 2012 4:03pm
Quoting Favorite
Of course, Al and our programmers work very hard and I feel I'm very lazy comparing to them, but you know, Ever E. Man, you're so right about me too! Of course, we all try to fine-tune the system, we all trade and at the same time do the testing, but I also have an "Extreme TMA" thread at the Russian forum, so the last two weeks I keep running back and forth, from this thread to the Russian thread and back. Went overthere - have to publish all the news from this thread, answer the questions and PMs, went back - have to read another 10-15 new pages!...
Oh, that's funny, Mike!

It's hard to strike that balance between wanting to help new traders, who need to help themselves, or at least try to, and having enough time for trading, and for work on the system!

If you let new traders know your situation, though, I think it helps. They can be so focussed on their needs sometimes that they forget that the person they're asking help from is a real live human being, who has a life, and only so much time to devote the their problem!

That's what I've been trying to get across in my humorous way.

Good luck, and don't wear yourself too thin! It ain't worth it in the end! (Gosh, I wish I could take my own advice! )
The mind thinks, the heart knows...
  • #4,729
  • Mar 9, 2012 4:11pm Mar 9, 2012 4:11pm
Quoting beto21_cwb
I'm sorry if this post is a bit off topic, but I found something interesting and I'd like to share it with you all.

I have always been skeptical about Fibonacci "magic" stuff, but as Al showed us how important the Fibonacci Pivot Points are, I decided to analyze how Fibonacci retracement was "behaving" in some charts.

And, to my surprise, the very first one, was interesting. Please, see the attached chart of EUR/USD H1.

I'm amazed of how PA "obeys" Fibonacci retracement levels. Maybe that's just a coincidence, or maybe the big guys do watch...
Hi there,

Would you mind posting your pivot indicator ?
I like this one very much because its placed on the left side of the screen !
Very nice.
  • #4,730
  • Mar 9, 2012 4:26pm Mar 9, 2012 4:26pm
Quoting Favorite
... but I also have an "Extreme TMA" thread at the Russian forum...
I use to speak Russian long ago is another life, but didn't keep it up. At that time the cold war was going strong and I thought I'd never need it.

How the world changes! Now I can only remember a few phrases and I still remember the characters' sounds.

I chuckled when Al thought that the Russian writing was Greek. A natural mistake, of course, because of the Cyrillic alphabet's resemblance to the Greek alphabet from which it was derived.

Are you a native speaker? I learned mine in Air Force intelligence almost 50 years ago.
The mind thinks, the heart knows...
  • #4,731
  • Mar 9, 2012 4:44pm Mar 9, 2012 4:44pm
Quoting Ever E. Man
I use to speak Russian long ago is another life, but didn't keep it up. At that time the cold war was going strong and I thought I'd never need it.

How the world changes! Now I can only remember a few phrases and I still remember the characters' sounds.

Are you a native speaker? I learned mine in Air Force intelligence almost 50 years ago.
Yes, everything changed, it is the brave new world!

I'm a native speaker, English is my second language.


Quoting Ever E. Man
Good luck, and don't wear yourself too thin! It ain't worth it in the end! (Gosh, I wish I could take my own advice! )
Thank you, Ever E. Man!

Now it is easier than it was 7-10 days ago, I already did most of the tests I wanted to do, and the Russian thread has now several experienced traders, nice guys, they help me to manage the thread.

So maybe I will be OK after all!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #4,732
  • Mar 9, 2012 6:04pm Mar 9, 2012 6:04pm
Quoting faxxion
Hello Riddermark,

You are correct. The default of 2 is the offset for Alfredo's broker. If Oanda is -5, then changing that setting will give you approximately the same pivots. They may not be exact because different brokers use different price feeds, but they should be within a couple of pips.

William
Hi William,
Not that it matters greatly, but the different price feeds may not be the reason that pivots can vary. It may be that the end of day is different at different brokerages, or for different accounts at the same brokerage.

Alpari, for example, has an hour difference in the rollover for its standard account and its pro account in the same brokerage. If the high or low came at the end or start of day, those could also be different.

I don't know how they calculate the close, but it could be different for each brokerage, or even each account.

Some pivot calcs use only the close, the high and the low, and some also use the open. I don't know how the FPV's are calculated, do you?

Anyway, I think that variable closes may account for some differences. If so, if you knew the time your broker closed and could compare it to the time Al's broker closed, you might be able to set the offset at a value that would give the exact same FPVs. Or if Al posted his you might be able to jigger it to be the same by adjusting the closing price.
The mind thinks, the heart knows...
  • #4,733
  • Mar 9, 2012 6:59pm Mar 9, 2012 6:59pm
Quoting beto21_cwb
Very nice and useful, thank you.
hi,beto21_cwb

Could you share your indicator of ExtremeTMA info? it's so nice and clear.

thanks a lot!
  • #4,734
  • Mar 9, 2012 7:42pm Mar 9, 2012 7:42pm
People are talking about pivots and which time of day is correct. I went searching for info on pivots about 6 months ago and found that it is a bit of a complicated subject. Here is what I learned.

My understanding is that for daily pivot calculations, most traders worldwide use NY close 17:00 EST for the end of day value. This is because NY is the last major market to close each day.

For weekly pivots calcs, if you do not use NY close, problems are introduced trying to decide which end of day time to use for Friday to end the week.

The opposite is true for beginning of the week on Sunday, so how to resolve this conflict? Generally, less weight is given to Sunday price action until Europe markets open on Monday morning. So the choice is made to discount data at the beginning of the week rather than late in the week.

This is normally 22:00 GMT, except for the next two weeks it will be 21:00 GMT while USA and Europe are out of sync on their DST/Summertime changes.

There are lots of websites that offer free pivot calcs so you can check your values against these sites. They can even vary slightly between sites (only a few pippettes usually), depending on where they get their data. I like this one because it's well laid out and easy to read: http://www.actionforex.com/markets/p...2010040848154/

I'm still working to get a handle on this system but I hope I can help a little.

Mega pips to all!
Luck occurs when preparation meets with opportunity.
  • #4,735
  • Mar 9, 2012 7:47pm Mar 9, 2012 7:47pm
Quoting Ever E. Man
Some pivot calcs use only the close, the high and the low, and some also use the open. I don't know how the FPV's are calculated, do you?
Hi, E. Man. Just read your post. The site I just posted also has a page showing how all kinds of pivots are calculated.

Ever heard of Camarilla Pivots? Or DeMark's Pivots? Me neither!

Here's a direct link to that page.
http://www.actionforex.com/markets/p...2010040952149/
Luck occurs when preparation meets with opportunity.
  • #4,736
  • Mar 9, 2012 8:22pm Mar 9, 2012 8:22pm
Alorente(or anyone), has the system changed....i downloaded your packet.zip and the tma is no longer on any of the charts! has the strategy changed to ma crossover? thanks
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  • #4,737
  • Mar 9, 2012 8:32pm Mar 9, 2012 8:32pm
Quoting Ever E. Man
Hi William,
Not that it matters greatly, but the different price feeds may not be the reason that pivots can vary. It may be that the end of day is different at different brokerages, or for different accounts at the same brokerage.

Alpari, for example, has an hour difference in the rollover for its standard account and its pro account in the same brokerage. If the high or low came at the end or start of day, those could also be different.

I don't know how they calculate the close, but it could be different for each brokerage, or even each...
Hello Ever E.

I think you are correct my friend.

William
may you find what you seek and trade what you find
  • #4,738
  • Mar 9, 2012 8:33pm Mar 9, 2012 8:33pm
Quoting hamburglar
Alorente(or anyone), has the system changed....i downloaded your packet.zip and the tma is no longer on any of the charts! has the strategy changed to ma crossover? thanks
No it hasn't. Something is wrong either your side or the packet side. No crossover and almost everything is about the TMA.
  • #4,739
  • Mar 9, 2012 8:38pm Mar 9, 2012 8:38pm
Quoting AlienFrog
People are talking about pivots and which time of day is correct. I went searching for info on pivots about 6 months ago and found that it is a bit of a complicated subject. Here is what I learned.

My understanding is that for daily pivot calculations, most traders worldwide use NY close 17:00 EST for the end of day value. This is because NY is the last major market to close each day.

For weekly pivots calcs, if you do not use NY close, problems are introduced trying to decide which end of day time to use for Friday to end the week.

The...
Hola Alfredo,

Your opinion on the pivot points that most "professionals" use would be much appreciated. I have also understood in the past that most professionals use the NY close instead of a flat GMT. What do you think? Is GMT 0 the best calculation, in your opinion, and why?

Thank you for your kind consideration.

William
may you find what you seek and trade what you find
  • #4,740
  • Mar 9, 2012 8:45pm Mar 9, 2012 8:45pm
Quoting Paradox
No it hasn't. Something is wrong either your side or the packet side. No crossover and almost everything is about the TMA.
no, i don't think anything is wrong.....the templates work just fine and show tma no problem, but if i go into the extreme tma 2 screen profile tma is not used on any of the charts. just the ma crossover...
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