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Price Action in Day Trading by Dadas

  • #741
  • Apr 11, 2013 4:17pm Apr 11, 2013 4:17pm
Quoting Dadas
Could you post the pictures, please? This is a fast thread, and people may find it difficult to go back and look for your earlier chart! Please!
Couldn't get this updated indicator to work in my Windows 7 MT4 platform, though the previous versions worked perfectly.

Also, could you please also post the updates on page one of your thread?

Advance thanks,
Ivan
  • #742
  • Apr 11, 2013 4:20pm Apr 11, 2013 4:20pm
PS. About Strategy Testers

There are at least 2 third party Strategy Testers available on the net
which allow you to trade from historical data as if real in combination
with the MT4 Strategy Tester.
They are very good practise tools.

The built in MT4 Strategy Tester runs only on one chosen Tf.
The other ones allow to open several Tf charts and switch
between them by switching the chart tabs.

It is all there.

You can test the strategy for yourself.

Just, Do It!
Trade the facts, not opinions.
  • #743
  • Edited 5:10pm Apr 11, 2013 4:35pm | Edited 5:10pm
Quoting ihelfman
Couldn't get this updated indicator to work in my Windows 7 MT4 platform, though the previous versions worked perfectly. Also, could you please also post the updates on page one of your thread? Advance thanks, Ivan
Updates posted in post #1.

I will check on Windows7 tomorrow, but I see no reason why it should not work.
It is like any other indicator.
There are no complicated functions, just simple things.

Maybe you forgot to switch things on, you know:
Show_Custom_Zone_Candle true/false
and all the others, which you want to see?

PS.
It took less time than I expected, so I was able to check the indi on Windows7.
It works perfectly fine.

Though, I can see one issue.

Windows7 somehow remebers the previous setting and does not substitute the old file with the new one.
It is some stupid Administator issue with this Windows7.

Here is how you can workaround:
In MT4 there is the little yellow icon with the exclamation mark.
It is the MetaEditor for writing and editing mq4 programmes.

1. Click on that and open the MetaEditor.
2. In MetaEditor, click the Open File icon.
3. Go to where you saved the updated indicator and Open it in MetaEditor.
4. Now, Click on File -> Save as and go to the experts -> indicators file of your MT4 directory.
5. Save, then click on the Compile button (the one with the green check mark).
This will rewrite the old file and the new updated mq4 should work fine.

Now, you can close the MetaEditor.

Just, do not mess anything with the code, if you do not know how.
Trade the facts, not opinions.
  • #744
  • Apr 11, 2013 11:03pm Apr 11, 2013 11:03pm
Just got a mail from my broker:

The website announcement of MetaQuotes states the following:

“We strongly urge anyone using these or similar modifications to return to the conventional unmodified installation files till April 15, 2013. All such modifications are forbidden and will be blocked in the terminals.”

These changes could potentially affect you from market open this Sunday, April 14th. This action by MetaQuotes will affect all MT4 platform enhancements that were not created or licensed by MetaQuotes. We regret these actions by MetaQuotes and are working to minimize their impact on you.

We may all need to learn how to manually draw the zone candles and PTECZ.

Still struggling with when to fire my Entry! Going back to the beginning again!

Dadas - any link to the strategy testers you mentioned? Thanks!
  • #745
  • Apr 11, 2013 11:11pm Apr 11, 2013 11:11pm
Quoting Dadas
Windows7 somehow remebers the previous setting and does not substitute the old file with the new one. It is some stupid Administator issue with this Windows7.
To avoid administrator issue, virtual store, virtual library etc.
Somehow we can install Metatrader in D: or anyplace, as long it is not at C:/Program Files

thus execute "terminal.exe" with right click -> run as adminstrator

So our Metatrader will work like it's old habitat in WinXP

PS. But it is true that Custom_Zone_Candle_with_Index.mq4 at page 49 didn't work at my terminal either, previous update are work properly, I don't know why. So I use compiled version Custom_Zone_Candle_with_Index.ex4 , it's worked.
  • #746
  • Apr 11, 2013 11:30pm Apr 11, 2013 11:30pm
Thanks Dadas

Quoting Dadas
What are you waiting for! For the price to reach the resistance?
Hahaha, it is regularly happened to me, waiting.. and suddenly price has already reach target before I took order.
  • #747
  • Edited 1:10am Apr 12, 2013 12:57am | Edited 1:10am
Quoting digu
But it is true that Custom_Zone_Candle_with_Index.mq4 at page 49 didn't work at my terminal either, previous update are work properly, I don't know why.
So I use compiled version Custom_Zone_Candle_with_Index.ex4 , it's worked.
That is the clue, in this issue, complied version!

So, you can compile the downloaded mq4 file like this:

In MT4 there is the little yellow icon with the exclamation mark.
It is the MetaEditor for writing and editing mq4 programmes.

1. Click on that and open the MetaEditor.
2. In MetaEditor, click the Open File icon.
3. Go to where you saved the updated indicator and Open it in MetaEditor.
4. Now, Click on File -> Save as and go to the experts -> indicators file of your MT4 directory.
5. Save, then click on the Compile button (the one with the green check mark).
This will rewrite the old file and the new updated mq4 should work fine.

Now, you can close the MetaEditor.

Just, do not mess anything with the code, if you do not know how.
Trade the facts, not opinions.
  • #748
  • Edited 2:18am Apr 12, 2013 1:08am | Edited 2:18am
Quoting lilies
Just got a mail from my broker: The website announcement of MetaQuotes states the following: “We strongly urge anyone using these or similar modifications to return to the conventional unmodified installation files till April 15, 2013. All such modifications are forbidden and will be blocked in the terminals.” These changes could potentially affect you from market open this Sunday, April 14th. This action by MetaQuotes will affect all MT4 platform enhancements that were not created or licensed by MetaQuotes. We regret these actions by...
This is very big BS!
It is your broker!

What type of broker are you working with?
DD, STP or ECN?

In the code, there is this line: #property copyright "Dadas"
I could change that to: #property copyright "Copyright 2005, MetaQuotes Software Corp."
But, I will not. It is my property, not theirs!

http://www.google.com/search?hl=pl&q...w=1002&bih=622

PS. This is not about indicators, it is about modifying the MT4 in itself.

Quoting lilies
any link to the strategy testers you mentioned? Thanks!
Posting a link would be commercial, because they are, basically commercial products.
But, you know, I hope, how to get them, otherwise?

Do you know how to use search engines?

It is not that hard!

Just type "Forex Strategy Tester".

http://www.google.com/url?sa=t&rct=j...VKbFmLpVgO9ocA
Trade the facts, not opinions.
  • #749
  • Apr 12, 2013 1:28am Apr 12, 2013 1:28am
I am worried, very worried!

I am reading your posts, I am replying.
However, what I read is very, very disturbing.

Some people do not know how to use the computer.
Some people do not know how to use their Trading Platform.
Some people do not know how to Google what they need.

You know what?

You can Trade Forex without the computer!

Just pick up your phone, call your broker and tell them to Open an Order.
Then, call them again and tell them to Close your Order.

How you are going to decide if Long or Short - beats me, but maybe you know how?
How you are going to decide at what Price - beats me, but maybe you know how?

Hello! Hello! Wake up, Guys!

The computer is your tool.
Without the computer you are far behind.
Is there a TV live Forex chart service?

It takes 2-3-4-5 years to get proficient at the computer.
It, much depends how you are learning.
A good course is the best way! Makes things shorter!

It takes 2-3 years to get proficient at using the MetaTrader platform
and all of its many wonderful possibilities it provides.

But, you have got to learn that through practise, not by reading the manual, only.

It takes anything from 3 - 7 years to become a good, professional, successful trader.
Or, it could be shorter, depends how many hours a day you spend on Forex.

You want to get the juice in 2-3 weeks?
And you do not even know how to Google what you need?
And you can not even manage you MetaTrader?
And you can not even get along with your computer?

Hello! Hello! Wake up, Guys!
Trade the facts, not opinions.
  • #750
  • Apr 12, 2013 1:54am Apr 12, 2013 1:54am
I took a trade.
Not many Pips, but that is what this Market was giving at this moment.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5.png Size: 81 KB
Trade the facts, not opinions.
  • #751
  • Apr 12, 2013 2:04am Apr 12, 2013 2:04am
Quoting Dadas
I took a trade. Not many Pips, but that is what this Market was giving at this moment. {image}
Hi Dadas,

Why didn't you take profits when price reached strong demand area for the first time?

Price was flagging and it was risky to keep it open while it was heading back to your entry.
IMO the PA showed better long then short opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-12_0859.png Size: 269 KB
  • #752
  • Apr 12, 2013 2:08am Apr 12, 2013 2:08am
Further information is available in the MetaQuotes support center, and is publically reproduced at:
http://forexmagnates.com/3rd-party-d...uotes-re-acts/
  • #753
  • Apr 12, 2013 2:15am Apr 12, 2013 2:15am
Very nice understanding of price action you words 'price move from one consolidation area to another consolidation area" is pretty much the same as my mentor taught me, but still I couldn't fully understand what he mean after seeing your explanation here it open my mind and would like to learn from you since I trade mainly using price distribution adding price action would be a major constructive to my trade
  • #754
  • Apr 12, 2013 2:19am Apr 12, 2013 2:19am
Quoting limprobable
Trade on live + 15 pips actually. Sell at 1.3118. SL at 1.3118 now (not like on the graph ) TP 1 (1.30777) and TP 2 (1.3059) based on precedent PTECZ 1H
TP 1 reach + 40 pips
Bottomless wonders spring from simple rules, which are repeated without end
  • #755
  • Apr 12, 2013 2:21am Apr 12, 2013 2:21am
finally took a trade after re-reading posts from page 1 (demo)

any comments will be appreciated when you have the time, dadas.
Attached Image (click to enlarge)
Click to Enlarge Name: 11 april gbpusdm30.png Size: 28 KB
  • #756
  • Apr 12, 2013 2:24am Apr 12, 2013 2:24am
This is one way to miss an opportunity.
I closed and instead of following PA, started to look at other pairs,
and Googling for some answers to your earlier questions.
Then, I look again at AUDUSD and the train has gone.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_.png Size: 81 KB
Trade the facts, not opinions.
  • #757
  • Apr 12, 2013 2:28am Apr 12, 2013 2:28am
Quoting Dadas
This is one way to miss an opportunity. I closed and instead of following PA, started to look at other pairs, and Googling for some answers to your earlier questions. Then, I look again at AUDUSD and the train has gone. {image}
Dadas,

I cant see any signs of pending down breakout there. In hindsight its easy to tell that it would work but in all honesty price had to break demand area before one could say shorts are on the play.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-12_0925.png Size: 285 KB
  • #758
  • Edited 2:41am Apr 12, 2013 2:29am | Edited 2:41am
Quoting markup
Hi Dadas, Why didn't you take profits when price reached strong demand area for the first time? Price was flagging and it was risky to keep it open while it was heading back to your entry. IMO the PA showed better long then short opportunity. {image}
Look at the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 73 KB

I was not even considerring Long for this time.
I was hunting for the above.

Just got busy with you Guys, here and missed the second Short.

PS. I do not know what you are trying to do?
Get killed under a fast train?

Did you do the full analysis from MN down?

Quoting markup
IMO the PA showed better long then short opportunity
You must be kidding me, or you do not understand PA!

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5---.png Size: 85 KB
Trade the facts, not opinions.
  • #759
  • Apr 12, 2013 2:30am Apr 12, 2013 2:30am
Quoting Dadas
Look at the chart. {image} I was not even considerring Long for this time. I was hunting for the above. Just got busy with you Guys, here and missed the second Short.
Good job on the short position
I made some pips on the other side
  • #760
  • Apr 12, 2013 2:52am Apr 12, 2013 2:52am
excuse me, just a thought of mine,,

about consolidation area:
- Which consolidation (supply and demand area) we must follow?
a. Price will consolidate IF there is a few of market participant
b. Market participants wait for moment ie. news
c. Market participant didn't accept price to move lower or higher (BUY & SELL equilibrium)

I think the best consolidation area to follow is C. Because I assume IF market participants didn't accept price to move lower or higher until one of the participant is defeated maybe in the future that area will be defended by the winner of previous battle
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