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BMI - MacD Magic Monster

  • #241
  • Dec 31, 2012 11:49am Dec 31, 2012 11:49am
Quoting BlueMental
Kiads, The indicators do not work with the 'steps' on GbpJpy. This is because it is 138.123 not 1.38123
I tried to see if I could change it in settings, but I can not, and since they are ex4 files I can not get in to change in code.

EurEsd
http://img72.imageshack.us/img72/819...lateeurusd.png

GbpJpy
http://img812.imageshack.us/img812/6...lategbpjpy.png

They are normal BB on GbpJpy, not with the 'squeezedown' or squeeze up' that can be used in EurUsd
Hi my friend,
for any Yen pairs..
for indicator ! T_Kiads BMI Long Mod v01 find parameter : BBprecision and change it to 1
for indicator ! T_Kiads_BBAnds v01 find parameter : BandsPrecision and also change it to 1
hope it help.
Attached Image (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI GJM15 2012_12_31 1900 setting.png Size: 457 KB
  • #242
  • Jan 1, 2013 2:08pm Jan 1, 2013 2:08pm
Quoting Kiads
Yes, Indeed my friend. what they 'called' standard renko builder program in MT4 hv a lot bug. So I made my own renko builder too. If you notice in my FACT example the 'renko block' just shifting half to replicate right 'angle' and also to make it 'true' renko we must create 'anchor point' so the renko program will always 'slicing' the price range in right position in every next tick. In that way, it will help so much to feeding data for other indicator that attached to this chart especially 'averaging type' indicators..
I do not think my renko indicator is close to a 'true' renko and it runs in a sub window . I do not really know any of the 'right' ways of using renko. That picture you showed me is the first method I have seen. I just used renko with experimenting and a bit of common sense. I stopped using it because I could not find any 'clear' way of finding reversals.

Yes I set the BB and mod bmi_L to 1 and it is better, but the 'levels' stay tiny. but that is no problem. I find that your trading style does not fit with mine. I thank you for sharing it.
  • #243
  • Jan 1, 2013 6:00pm Jan 1, 2013 6:00pm
Quoting BlueMental
Greetings Mate.

The Gann Stuff floating around on the web is mostly Rubbish. Rubish that is being sold for ludicrous sums of money (If it was so effective, why would they need to sell it for $xxxx?)
Most of what you read and learn about Gann just confuses you more than anything else. In truth, no one but Gann knows what Ganns Trading System was, and since he is no longer breathing on this realm, I doubt we can find a way for him to tell us.

BUT, and this is a big but. I introduced Gann (Pyrapoint, Gunner24, Gann Grids and FibArcs) because...
Hey BlueMental,

Thanks for the warm welcome.

I like it when you say "I want to get away from theory into something useful and usable". I appreciate that we have to learn the theory but I think too many Gann fans get caught up with the theory and cannot transfer that theory in day-to-day trading, and in particular short-term trading.

I look forward to bringing what I can to the thread and I am keen to see how we all can help to evolve this into a fully fledged trading method. My brain is a sponge so let the soaking up of knowledge begin!

John
The consistency you seek is in your mind, not the markets. Mark Douglas
  • #244
  • Jan 1, 2013 6:35pm Jan 1, 2013 6:35pm
Quoting BlueMental
I do not think my renko indicator is close to a 'true' renko and it runs in a sub window . I do not really know any of the 'right' ways of using renko. That picture you showed me is the first method I have seen. I just used renko with experimenting and a bit of common sense. I stopped using it because I could not find any 'clear' way of finding reversals.

Yes I set the BB and mod bmi_L to 1 and it is better, but the 'levels' stay tiny. but that is no problem. I find that your trading style does not fit with mine. I thank you for sharing it.
Hello my friend BlueMental, good to see you again in the 'new hope and new prosperity' year 2013.
about our beloved BMI_Long indicator, that why I made some adjustment in coding including the 'legend' function and multiplier function. If you want change the 'fit in' ratio so you can 'see' level at 3 digit pairs like yen pairs then you can use attached template that already set for GBPJPY (with example at picture 01).

Another topic about 'renko stuff', as far as I know, 'true' renko will show you 'true clearly' the reversal in price movement since 'she' slicing the price movement range in 'constant' way according to your 'brick/block' setting. rather than 'standard' candlestick chart which slicing the price movement according to 'time range/frame' . You know that standard 'candlestick' invented by Japanese and then this 'renga' (brick in Japanese language) and later called 'renko' was re-invention of those 'candlestick' also by Japanese with purpose to 'see' more constant visual information on chart, and of course it will also 'feeding' more constant data flow to any indicators that calculate base on averaging OHLC data. (similar with picture 01 I give you 'renko' chart at picture 02).

Just for 'funny' example, we know 'soccer' right ?. Soccer field 'measured' with 'metric scale' (renko), and also 'all' the another playing fields we know always measured with constant distance 'scale'. when in the other side 'for how long we play' that measured with 'time range' (time base candlestick) that sometimes so 'flexible' to adjusted (remember that 'injury time' , 'time out' etc).. lol. So, if we need some more 'strictly' constant result then we need constant 'metric scale'.

Like my Japanese mentor said years ago; " your get gain if you bet in price movement not in time movement, so pay attention to price movement not in time movement'. this is what he said when I asking about what is the best time frame we should use. Time frame is only matter of how you 'sliced' the cake if you slice it 24 part then you get TF H1 , and if you slice it 6 part then you get TF H4, the cake itself is still the same..
Hope it help
Best regard.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI GJM15 2012_12_31_1900 lvl exp.png Size: 327 KB
Click to Enlarge Name: 72 EMA HLBB BMI GJM15 2012_12_31 1900 renko b12.png Size: 361 KB
Attached File(s)
File Type: tpl ! t_kiads 72_hlbb_bmi for gbpjpy v01.tpl   382 KB | 880 downloads
  • #245
  • Jan 2, 2013 2:07pm Jan 2, 2013 2:07pm
Quoting Kiads
...Another topic about 'renko stuff', as far as I know, 'true' renko will show you 'true clearly' the reversal in price movement since 'she' slicing the price movement range in 'constant' way according to your 'brick/block' setting....
Once I used Point & Figure charts for trading , and as I know they had almost same logic with the renko charting system. It was easier with them to see the horizantal supports and resistences. But it is not perfect too , because it turns off the availibility of Price Action stuff... I mean candles are better in a way because they can give you clear signals of bullish or bearish trends if you know how to read the footprints of the fat guys. Its not something scientific , just my thought , but the price itself is the indicator , so we shud not try to disguise it with some other shiny clothes.

Or I shud say like this , such things shud remain as tools , but they shud never take the throne of the price itself...maybe I am wrong , but that is how I think...Renko charting system is amazing about making the direction more visible (like a kind of moving avarage) and helping us to see horizantal supports and resistences easier ... but on the other side It lacks some data which has great importance while trading : the footprints of the big investors !

Regards ...
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #246
  • Jan 2, 2013 10:21pm Jan 2, 2013 10:21pm
Quoting selym_co
Once I used Point & Figure charts for trading , and as I know they had almost same logic with the renko charting system. It was easier with them to see the horizantal supports and resistences. But it is not perfect too , because it turns off the availibility of Price Action stuff... I mean candles are better in a way because they can give you clear signals of bullish or bearish trends if you know how to read the footprints of the fat guys. Its not something scientific , just my thought , but the price itself is the indicator , so we shud not try...
Hi, my friend selym_co, it is alright if you choose standard candlestick chart as your 'main visual indicator' there's nothing wrong with that. I believe that every 'type' of charts is a 'tools'. The 'visual basic indicator' to represent 'what's going on' in the market. every type of it are 'indicator'. Like in candlestick chart the usual pattern terms such as doji, harami, marubozu, tweezers, etc just for naming some 'conditions' in the market. And that term only 'known' lately to the western world after 'candlestick' way of viewing 'what's going on' in the market popularize by Steve Nison. So, the Point & Figure chart as it's name represent itself as to 'pointing' and 'figuring' similar 'what's going on in the market'. the other 'japanese chart' called 'Kagi' meaning 'footprints key' created to do similar thing..

So, as far as I know (forgive me and correct me if I was wrong) the 'deal information data' between market players is the first layer of indicator, the 'price movement/action data' is the second layer of indicator, the 'visual charting tools' like line chart, bar chart, mountain chart, candlestick, renko, etc become the third layer of indicator, and the 'line studies' including all averaging indicators and also object tools for geometrical charting is the fourth layer of indicator.

No Matter what you 'use' to visualize and tracking down where the 'smart money' goes as long as you know 'what to see and how to see it' and make benefit of it then it will be great and hopefully if it 'share' with our community then become 'great help' for each others.

About renko as one of price base charting tools, of course it is also could be use to watch "the footprints of the big investors". it is just a matter of 'how to do it'.
and the more important is 'how you practically understanding it' .

As you see in the example pictures that I give in our friend BlueMental thread here , I still use 'candlestick' too.. for me, it is not 'wise' to forget to bring our knife even if we already have a machine gun.. right..

by the way, 'nice circle trading journal' my friend. perfect curve always in parabolic circle shape that build up part by part from tiny cubes ( in modern world we call it pixel.. lol).
have a nice trade and best regards.
T.Kiads
  • #247
  • Jan 3, 2013 12:17am Jan 3, 2013 12:17am
Thanks Kiads I will load and use the template.

To both Kiads and selym_co.
When you look deeply enough at price movement, from the Tick Charts, all the way up through to Decade or Century charts (if we had them), you find the same repeating patterns. The 'morning star', 'Doji' and all those other candlestick pattern terms, are not formed because they are 'Big Fish' Footprints. They are the footprints of ALL price action itself.

The term 'ranging' is an incorrect and misleading term in itself. It 'implies' that the market is in a confused state. The market traders can get into confused states. But the Pairs themselves are never confused. They follow the fractal patterns always. It is like saying that a hill is 'confused and ranging' when the 'up' gradually flattens and becomes 'down' on the other side.

The formation (erosion, earthquakes, volcanoes, silt deposits over time etc.) of mountains is also fractal. Their footprints are formed by the nature of their make-up. By what they are. The 'surface' changes (by Big Fish) are nothing more than that. The Big Fish do not and can not jactually move the market.

They like to think they do, but the very worst they get is 'spikes'. The NEWS spikes and drops are nothing more than a spot off noise to the Price Action. The Bank Of England almost went Bankrupt by pumping HUGE amounts of money into the market at one time, thinking they could force a major change. Their major 'opponent' at the time was Soros. He played the market WITH her patterns. BOE opposed her patterns. Soros became a billionaire and could have but did not pull a fast one that would have liquidated BOE.

Seeing these patterns and recognising them is what allowed Soros to use them. BOE, being arrogant in their perceived 'power' tried to dictate to the market and they got slapped in the face so hard that they realised they are nothing more than naughty school kids.

What I like most about Rengo (thanks for the detailed explanation Kiads) is that it allows (by choosing the block 'height') us to filter out the 'noise' part of the price action. While it 'dims' our view of the 'small' footprints, it makes it easier to see more clearly where and what the price is actually doing. We can also see those same footprint in Rengo on a 'larger' scale. We just need to know how to look.

I will be spending some time and effort looking more into Renko and what I can see and use from it. Needless to say, in my own 'mad' way, I will try to find other 'unconventional' perspectives from this style of charting. As Kiads says, the charting itself is nothing more than a tool of transporting price movement over time into a 'readable' human 'picture'.

I trade predominantly from the M5 chart, but this is misleading. I zoom out to max and I have the H4 in front of my eyes. The bar period is as Kiads states it 'in modern terms' nothing more than 'pixels'. One of the things that I find most intriguing is the fact that we show zero representation on our charts worldwide of time NOT there.

A more consistent charting structure would be ALL 52 weeks of a year charted with ALL 7 days per week charted. Those left out being greyed. The FibArcs and MA's are actually incorrect because of those 'chunks' that are bitten out. A better EMA would be to add a 'flat spot' to the EMA over the greyed out bars. This would give a more accurate and clearer picture of true price movement.

Whether a coin is going to be heads or tails depends entirely upon the energy of the moment. What your thoughts arre, What the energy of the thing in your mind is, and when you throw the coin. The Chinese form of prophecy, called I Ching (pronounce Yijing) is formed by one method with the throwing of three coins. It is an incredibly accurate tool (I Ching) and it sometimes feels quite literally like you are speaking directly to God.

Absolutely everything fits these patterns. We live in a fractal Phi hologram. The way our bodies proportions are follow these patterns, the way the oceans waves flow and ebb and in what direction and when, follow these patterns. The way dust floating in the air slpits light follows these patterns.

Finding harmony within the pattern is pleasure. Trying to control or direct the patterns is arrogant and impossible. If one leaves 'this' matrix, they enter into the fractal Phi hologram matrix that this one is part of. The fundamental 'make up' is the constant that allows everything within it to change without anything ever changing at all.

By using minutes as the x-axis for charting and allowing zoom in and out to 'condense' the price actions into bars of minutes/hours/days of our liking, allows us to represent scalar images (trendlines, Circles, ratio angles etc.) in a consistent manner that holds a solid X;Y relationship to the chart regardless of what 'zoom factor' the chart is in. If a Trendline that ends at x of 113451154 minutes is show in a D1 bar 'zoom factor' then those x minutes fall within the parameter of x1 to x2 pixels on our screen (and chart) that one day holds. The x value of the trendline does not alter when zooming in or out. Only the representation of the bar data alters.

We need to evolve this charting infrastructure so that we can find better ways of 'seeing' the inherent patterns. Just like the Japanese invented Candlesticks. Rengo and Kagi, we can invent new ways of looking at the same data. In fact, it is the pattern inherent within us that guides us towards the creation and new understanding of things. It is the change of that which never changes.
  • #248
  • Jan 3, 2013 1:02am Jan 3, 2013 1:02am
Quoting BlueMental
Thanks Kiads I will load and use the template.

To both Kiads and selym_co.
When you look deeply enough at price movement, from the Tick Charts, all the way up through to Decade or Century charts (if we had them), you find the same repeating patterns. The 'morning star', 'Doji' and all those other candlestick pattern terms, are not formed because they are 'Big Fish' Footprints. They are the footprints of ALL price action itself.

We need to evolve this charting infrastructure so that we can find better ways of 'seeing' the inherent patterns....
Hi my friend BlueMental, this is really beautiful explanation.. thank you..

Quote
A more consistent charting structure would be ALL 52 weeks of a year charted with ALL 7 days per week charted. Those left out being greyed. The FibArcs and MA's are actually incorrect because of those 'chunks' that are bitten out. A better EMA would be to add a 'flat spot' to the EMA over the greyed out bars. This would give a more accurate and clearer picture of true price movement.

I hv example of 'previous' gap when market closed and re-opened after new year.
in this picture no 1. EU M30 candlestick chart with sweetspot horiz line indicator set at starting point 1.3000 with step of 50 point (500 on 5 digit broker) and sub level of 12.5 point (125 - 5 digit broker). and EMA 8 applied to median (HL/2).

Attached Image (click to enlarge)
Click to Enlarge Name: Renko-Candlestick comparison EUM30 EMA8 median.png Size: 271 KB


And in picture no 2. the SMART (Simplified Median Axis Renko Trading System). also on EU with 'brick/block' size 12.5 with starting/anchor point also 1.3000 and similar sweetspot and EMA 8.

Attached Image (click to enlarge)
Click to Enlarge Name: Renko-Candlestick comparison EUM2 RC EMA8 median.png Size: 268 KB


I mark the gap with blue rectangle and aqua horiz line and we can see that EMA will reacting more smoothly in price base charting because it will adapt the gap (there will no gap in slicing the price it self).

Look at the horizontal line created with sweetspot indicator in both type of charts. that actually 'similar' renko in different way that 'slicing' horizontally the x-price axis in constant step (12.5 point). from anchor point.

This is only 'another way' to see the market that I think personally 'more better'.. corret me if I'm wrong.

Have a nice trade
best regards.
T.Kiads
  • #249
  • Jan 3, 2013 2:33am Jan 3, 2013 2:33am
Quoting Kiads
This is only 'another way' to see the market that I think personally 'more better'.. corret me if I'm wrong.
The Rengo (from now on I will call the Bricks bricks, not Brix(renko)) shows the true price change and 'block climbing' works 100% with the MA's etc. I need to explore how other indicators (BothMac and Magic Channels) work with Rengo. I also want to explore FibArcs and Circles.

I still have not yet had a chance to check out what I get with your Template.

LOL, I am (AGAIN) in a bad trade 100pips in the Red. I do not understand HOW I do these things. I see clearly that the price is going down. All the indications, patterns and everything I know shows me it will drop SOON and also most likely the exact spot it will happen, but somehow I convince myself to 'catch the quick up before the drop'

<slaps self in face> <slaps self in face> <slaps self in face> <slaps self in face>
  • #250
  • Jan 3, 2013 2:35am Jan 3, 2013 2:35am
Which reminds me....

A separate post completely unrelated to this thread.

Do yourself a Favour and go check out the following site:-
www.currencynewstrading.com/

It is run by a gentleman called Henry Liu. He offers and shows a huge amount of totally free stuff about trading the News. From emailing you NEWS related data the day before any worthy event, to details on how many pips to expect and how to enter and exit trades. Free membership to CNT and other goodies to download.

If you ever considered trading News and do not know how, this site provides a wealth of info for FREE. Not the 'Free if you buy this.... totally free.
  • #251
  • Jan 3, 2013 2:55am Jan 3, 2013 2:55am
Quoting BlueMental
Which reminds me....

A separate post completely unrelated to this thread.

Do yourself a Favour and go check out the following site:-
www.currencynewstrading.com/

It is run by a gentleman called Henry Liu. He offers and shows a huge amount of totally free stuff about trading the News. From emailing you NEWS related data the day before any worthy event, to details on how many pips to expect and how to enter and exit trades. Free membership to CNT and other goodies...
Thank You my friend, yes I know Henry 'The Profiteer' Liu years ago.. with his currencies strength meter calculation I will checked it out his sites..
  • #252
  • Jan 3, 2013 3:02am Jan 3, 2013 3:02am
Kiads.

You do realise (just by the way) that the "OsMA" Histogram (Olive - Value 2 titled incorectly as 'Signal') in the BMILong__ indicator is the Difference Between Signal And MacD.

So the very second the MacD (Turquoise Line) crosses below the Signal Line(Black) it crosses on the Histo as well. The red Line is an 8MA of the Signal Line. I can not recall what my aim was with that. There were supposed to be 2 other 'added' features, but I coded it so long ago, I have no idea what my aim was. I obviously left it unfinished. The other 'Slope stuff didn't work out as anything useful either. But I guess it was worth a try.

Something TRULY frustrating is that I once coded an indicator that worked with EMA's that were 'twisted' mathematically, and it showed long term BIG pip stuff 100% accurately with minimal Risk (like a risk of 50 pips for rewards of 400 pips or more!). I Called it 'Plucking The Money Tree'. and somehow, somewhere before I ever got to use it, my Hard drive got corrupted and I lost it!!!!

I tried for 3 years to re-figure out those math 'twists' (I got them by basically experimenting in the first place.) but I never found them again

That is one indicator I truly wish I still had.
  • #253
  • Jan 3, 2013 3:10am Jan 3, 2013 3:10am
Kiads,

Which Rengo Indicator are you using on the chart in picture 2?

My Rengo indicators (I only have 2 and If I recall I wrote them both) work only on separate_window. Could you either upload that one or tell me it's name so I can search for it.
Thank you.
ps. If you have the mq4 of it, that would be nice.
  • #254
  • Jan 3, 2013 3:22am Jan 3, 2013 3:22am
Quoting BlueMental
The Rengo (from now on I will call the Bricks bricks, not Brix(renko)) shows the true price change and 'block climbing' works 100% with the MA's etc. I need to explore how other indicators (BothMac and Magic Channels) work with Rengo. I also want to explore FibArcs and Circles.

I still have not yet had a chance to check out what I get with your Template.

LOL, I am (AGAIN) in a bad trade 100pips in the Red. I do not understand HOW I do these things. I see clearly that the price is going down. All the indications, patterns and everything I know...
If this is about your favorite pairs GBPJPY

Attached Image (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI GJH1 2013_03_1110.png Size: 370 KB


there is still a 'change to go up'
  • #255
  • Jan 3, 2013 3:33am Jan 3, 2013 3:33am
Quoting BlueMental
Kiads,

Which Rengo Indicator are you using on the chart in picture 2?

My Rengo indicators (I only have 2 and If I recall I wrote them both) work only on separate_window. Could you either upload that one or tell me it's name so I can search for it.
Thank you.
ps. If you have the mq4 of it, that would be nice.
I PM you my friend..
  • #256
  • Jan 3, 2013 4:02am Jan 3, 2013 4:02am
Here is a picture of my (quickly half repaired Rengo that now half works on main chart (I get a line for blue instead of Blocks, but not too hard to fix.

Oh, The forum now auto shows attached images. Nice to know.
Attached Image (click to enlarge)
Click to Enlarge Name: MyRenko.png Size: 9 KB
  • #257
  • Jan 3, 2013 4:16am Jan 3, 2013 4:16am
Always secure your active positions

Attached Image (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI EUM15 2013_01_03_1210.png Size: 396 KB


Today almost 'catch' any back and forth movement in EU..
  • #258
  • Jan 3, 2013 4:22am Jan 3, 2013 4:22am
Quoting Kiads
Always secure your active positions

Today almost 'catch' any back and forth movement in EU..
<GRIN> I am too stubborn to secure and I hope (knowing it will not happen) that the up spike will happen. I know that I will reach positive eventually but the stress is not good in the wait. Also I trade MBT, so I can not Hedge.... Means I can not trade actively (unless small/medium retraces in same direction as initial open trade)

Oh well.... such is the life of the stubborn fool.

I intend o put decimal 'accuracy' settings on BothMac, to see how it shows the 'BounceOffs' I think it will make it a better indicator.
  • #259
  • Jan 3, 2013 4:47am Jan 3, 2013 4:47am
Quoting BlueMental
<GRIN> I am too stubborn to secure and I hope (knowing it will not happen) that the up spike will happen. I know that I will reach positive eventually but the stress is not good in the wait. Also I trade MBT, so I can not Hedge.... Means I can not trade actively (unless small/medium retraces in same direction as initial open trade)

Oh well.... such is the life of the stubborn fool.

I intend o put decimal 'accuracy' settings on BothMac, to see how it shows the 'BounceOffs' I think it will make it a better indicator.
Actually, in those type of broker you can do it with other similar pair, you can 'protect' your GBPJPY south retracement by open Sell at EURJPY that actually go south faster than GBPJPY at this moment. but maybe for right now it is little bit too late. I think all JPY pair only 'in retrace' since that Japanese government so desperately wanna make their Yen more cheaper whatever it takes..

Attached Image (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI EJH1 2013_01_03 1240.png Size: 388 KB
  • #260
  • Edited 5:07am Jan 3, 2013 4:53am | Edited 5:07am
Kiads (and others)

What are your thoughts about this. So far untested, but I did check the idea backwards through the chart. It has good possibilities. I will test it further on demo before using it though.

Your thoughts Kiads?
<edit> Oops, I moved the forst circle to check something. It was in the bigger one to it's right and had an upward 'breakout' happening, But it would have hit SL (assuming I set one) and made a small loss (+- 20 or so pips). Remember, this is 'theoretical trading so far. </edit>
Attached Image (click to enlarge)
Click to Enlarge Name: Rengo FibArc Possibilities.png Size: 28 KB
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