Attachments: Price Action in Day Trading by Dadas

Price Action in Day Trading by Dadas

#1,561
May 1, 2013 6:04am May 1, 2013 6:04am

emailpat
| Joined Jan 2013 | Status: Trader | 24 Posts

I know of people Trading Price Action off a Line Chart without indicators-using BRN's,MP's,Pivot Points and Support/Resistance Levels. Your method makes it easier to read these S/R levels and as you say give a visual interpretation to Price Action.This is my experience so far and I am just trying to make sure that what I am reading is factual.

We always have a choice to be right or kind,be kind you will learn more.

#1,562
May 1, 2013 6:15am May 1, 2013 6:15am

Christianfx
| Joined Apr 2013 | Status: Trader | 149 Posts

How do you find PTECZ´s with a line chart. Doesn´t even make sense

#1,563
May 1, 2013 6:18am May 1, 2013 6:18am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting emailpat

Disliked

I know of people Trading Price Action off a Line Chart without indicators-using BRN's,MP's,Pivot Points and Support/Resistance Levels. Your method makes it easier to read these S/R levels and as you say give a visual interpretation to Price Action.This is my experience so far and I am just trying to make sure that what I am reading is factual.

Ignored

If someone says they are trading Price Action off a Line Chart, they obviously do not understand PA.
The Line Chart does not show High and Low levels. Thus, it does not show actual S/R levels.
It does not show Shadows!

Pivot Points and such are just theoretical based on some averaged calculations.
They are not actual S/R levels.

There are no pinpoint S/R Levels, that is BS!

That is where the Zone concept is from.

The S/R level is a Potential Zone S/R.

The Price never has to obey any Levels, not to mention Lines!

There is a bigger chance the Price will react somewhere in the Zone.

That is one reason why EAs do not work!

You can not programme "somewhere between here and here, but you must decide where, Mr. Data!".

Trade the facts, not opinions.

#1,564
May 1, 2013 6:39am May 1, 2013 6:39am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting emailpat

Disliked

This is my experience so far and I am just trying to make sure that what I am reading is factual.

Ignored

The only way you can do that, is by your own experience.
You have to check it out by yourself.

I am not asking You or anybody to believe what you are reading!

Check it out and see for yourself!

Trade the facts, not opinions.

#1,565
May 1, 2013 6:53am May 1, 2013 6:53am

emailpat
| Joined Jan 2013 | Status: Trader | 24 Posts

@Dadas

I have checked it out -see attached chart

@Christianfx
You can not do Dadas method from Line Chart

Attached File(s)

nymex232 (1) 280413.pdf 687 KB | 797 downloads

We always have a choice to be right or kind,be kind you will learn more.

#1,566
May 1, 2013 7:34am May 1, 2013 7:34am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting emailpat

Disliked

@Dadas I have checked it out -see attached chart @Christianfx You can not do Dadas method from Line Chart {image}

Ignored

I meant to check out my method.

OK, I never said that Trading from the Line Chart is not possible!
You can Trade the Line Chart just as well, maybe not just as well,
because you do not see the High and Low values, only during the current
formation of Price, as long as you know what you are doing!

You can see much more on the Bar or Candlestick chart.

But, you can use the PTECZ indicator on the Line Chart, too.

Try using the Zone Candle on the Line Chart!

Try the 2 Zone Candles method:
First Zone Candle:
Custom_Zone_Candle_Tf = 240 (or any other smaller like 60);
Custom_Zone_Candle_Index = 0;

Second Zone Candle:
Custom_Zone_Candle_Tf = 240 (or any other smaller like 60);
Custom_Zone_Candle_Index = 1;

Put them on the Line Chart, see what that will do to your trading.

My Tools are versatile and your imagination is the limit!

Use them, invent new combinations!

Trade the facts, not opinions.

#1,567
May 1, 2013 7:39am May 1, 2013 7:39am

emailpat
| Joined Jan 2013 | Status: Trader | 24 Posts

Thanks Dadas, you have opened my eyes a bit more

We always have a choice to be right or kind,be kind you will learn more.

#1,568
May 1, 2013 7:40am May 1, 2013 7:40am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Guys,

The Candle Body carries important information,
but the Candle Wick or Shadow carries even more important information!

Have you noticed anything new on my charts?

No, because you do not look at what you are supposed to look at!

Look at my new Candle Shadows!

What is CSCZ? Why is it important?

Candle Shadows - you do not get that information on Line Charts!

Trade the facts, not opinions.

#1,569
May 1, 2013 8:01am May 1, 2013 8:01am

Christianfx
| Joined Apr 2013 | Status: Trader | 149 Posts

Jokke is on me I guess. The line chart can be used after all

#1,570
May 1, 2013 8:03am May 1, 2013 8:03am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting markup

Disliked

{quote} OK. Being stubborn is the best way to learn things.

Ignored

markup,

I have this little excercise for you, if you are willing to do it.

Just for a moment, a little moment, leave your own self alone,
step aside and listen to yourself!

" Being stubborn is the best way to learn things."

Trade the facts, not opinions.

#1,571
May 1, 2013 8:09am May 1, 2013 8:09am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting Christianfx

Disliked

Jokke is on me I guess. The line chart can be used after all

Ignored

What's the matter with you, guys?

Put the Custom_Zone_Candle_with_Index.mq4 on the Line Chart.
Switch to Candlestick, plot the PTECZ, switch back to Line and Trade whatever you like!

Who or what is limiting You?

Trade the facts, not opinions.

#1,572
Edited 10:36am May 1, 2013 8:45am | Edited 10:36am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

I can, even, have a Line Chart with Shadows!

Attached Image (click to enlarge)

Click to Enlarge

Name: xauusdh4.png
Size: 41 KB

How about that?!

How about a Candlestick Chart without Shadows?

Attached Image (click to enlarge)

Want more "magic"?

Trade the facts, not opinions.

#1,573
May 1, 2013 8:59am May 1, 2013 8:59am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Hocus-Pocus, Abracadabra!

Attached Image (click to enlarge)

Oh Sh.., where is my chart?

Trade the facts, not opinions.

#1,574
May 1, 2013 9:03am May 1, 2013 9:03am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Hmmmm, something is showing up!

Attached Image (click to enlarge)

Click to Enlarge

Name: shadows.png
Size: 58 KB

Can I work with that?

Trade the facts, not opinions.

#1,575
May 1, 2013 10:28am May 1, 2013 10:28am

markup
| Joined Apr 2013 | Status: Trader | 52 Posts

Quoting Dadas

Disliked

{quote} markup, I have this little excercise for you, if you are willing to do it. Just for a moment, a little moment, leave your own self alone, step aside and listen to yourself! " Being stubborn is the best way to learn things."

Ignored

That was sarcasm.

#1,576
May 1, 2013 11:19am May 1, 2013 11:19am

numoon
| Joined May 2013 | Status: Trader | 15 Posts

Thanks for this excellent thread Dada ,

I have a question please ., on the "Building the zones " document , it mentions negation candles ... can you please explain what are they ?

Thanks :-)

#1,577
Edited May 2, 2013 12:00pm May 1, 2013 12:44pm | Edited May 2, 2013 12:00pm

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting numoon

Disliked

Thanks for this excellent thread Dada , I have a question please ., on the "Building the zones " document , it mentions negation candles ... can you please explain what are they ? Thanks :-)

Ignored

There is a Bullish Trend.
At the End of this Trend there is a Strong Opposite direction Candle.
Also called Break Down Candle or Bearish Trend Candle.

Attached Image

There is a Bearish Trend.
At the End of this Trend there is a Strong Opposite direction Candle.
Also called Break Up Candle or Bullish Trend Candle.

Attached Image

Trade the facts, not opinions.

#1,578
May 1, 2013 1:36pm May 1, 2013 1:36pm

numoon
| Joined May 2013 | Status: Trader | 15 Posts

Thanks , makes more sense to me now :-)

#1,579
May 1, 2013 5:24pm May 1, 2013 5:24pm

P.Action
Joined Nov 2012 | Status: Trader | 1,449 Posts

i read first pages of this thread. i draw some chart for example and for your comments Dadas.

there is too many pages to read. but examples will be good to understand your pure method. charts are here. thanks.

monthly

Attached Image (click to enlarge)