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Price Action in Day Trading by Dadas

  • #2,001
  • May 19, 2013 5:15am May 19, 2013 5:15am
For anyone who might have a problem with the chart in the User Manual:
Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 96 KB
Trade the facts, not opinions.
  • #2,002
  • May 19, 2013 6:01am May 19, 2013 6:01am
Thanks for your generous insights.

I am learning a lot from you regarding PA.
Don't limit yourself!!
  • #2,003
  • May 19, 2013 9:03am May 19, 2013 9:03am
Hello Dadas,

I'm very interested in your special PA method, and your new indicator, would you please send me a copy.

Thanks
  • #2,004
  • May 19, 2013 10:58am May 19, 2013 10:58am
Since Iīm the first one writing this Iīm wondering whether itīs only me whoa has this problem? I just canīt make the PTECZ Trader ex4 file work. As far as I understand itīs just an encrypted version of mq files. The PTECZ TRADER shows up in my indicator list but I canīt use it. Nothing happens when I drag it onto the chart.

I tried a few things that people wrote on the internet but nothingīs working. I also searched this thread but I couldnīt find anything. Did I miss a post where it is explained?
  • #2,005
  • May 19, 2013 11:20am May 19, 2013 11:20am
Quoting Christianfx
Since Iīm the first one writing this Iīm wondering whether itīs only me whoa has this problem? I just canīt make the PTECZ Trader ex4 file work. As far as I understand itīs just an encrypted version of mq files. The PTECZ TRADER shows up in my indicator list but I canīt use it. Nothing happens when I drag it onto the chart. I tried a few things that people wrote on the internet but nothingīs working. I also searched this thread but I couldnīt find anything. Did I miss a post where it is explained?
Well, I have retested your copy just as you would put it in experts->indicators folder.
Everything works as it should.
Did you read the User Manual?
Did you input the Pass_Code?
Trade the facts, not opinions.
  • #2,006
  • May 19, 2013 12:02pm May 19, 2013 12:02pm
Quoting Christianfx
As far as I understand the ex4 is just an encrypted version of mq4 files.
The .ex4 file is the equivalent of the .exe file.
It is the compiled .mq4 file.
The .mq4 file is the source code file, the file to edit the code.
Every .mq4 file is compiled automatically by MT4 to the .ex4 file,
when you run MT4 platform.

The files you put on the charts are always .ex4 files.
Trade the facts, not opinions.
  • #2,007
  • May 19, 2013 12:37pm May 19, 2013 12:37pm
Quoting Dadas
For anyone who might have a problem with the chart in the User Manual: {image}
Hi Dadas,

I just using your latest indicator which you sent.I just starting to backtest with it.But I think a small change in PC clean up function will be helpful.If its keep all the historical PTECZ in the chart that will be useful.Then as per user can delete which PTECZ they dot require. Then we can use it for future reference also.
  • #2,008
  • May 19, 2013 12:47pm May 19, 2013 12:47pm
Quoting bedayan
{quote} Hi Dadas, I just using your latest indicator which you sent.I just starting to backtest with it.But I think a small change in PC clean up function will be helpful.If its keep all the historical PTECZ in the chart that will be useful.Then as per user can delete which PTECZ they dot require. Then we can use it for future reference also.
Well, you can turn off by setting PTECZ_Cleanup = false.

But, believe me, you only need to know 2 historical PTECZs, Support and Resistance.
This you can find for your own.
Indicator can not find those, or I have no idea how to write such code.

And, you have those in the Trading_Master_Tf, just experiment which Master_CSCZ_Tf is best for you.

And, you need some practise.
This is not the Indicator that just indicates something.
This is a real working tool!

BTW. You can always use the diamond PTECZ Indicator to help you identify the historical PTECZs.

In the MQL4 language you have the OHLC levels information functions,
plus the Highest and Lowest of a given Period.
If the historical PTECZ can occur anywhere in history, how do I tell
the programme to search the Highest or Lowest value?
I can do that only by the Tfs which exist. So, which would be the right one?
Otherwise, I do not know how to do it.
Trade the facts, not opinions.
  • #2,009
  • May 19, 2013 1:05pm May 19, 2013 1:05pm
All right Iīll take everything back.

Classic.

I installed it for the wrong MT4 version.

Everything works fine. Thanks for your response though
  • #2,010
  • May 19, 2013 1:10pm May 19, 2013 1:10pm
If I were able to write a code to tell the programme to search for a PTECZ
which fits somehow but not exactly to the given levels, and if I
were able to write a code to tell the programme to Enter/Exit when Price
does certain Action at about some PTECZ level, I would have created
the most successfull EA in the World.
Everybody would be paying me millions and billions just to get the rights to such an EA!
Trade the facts, not opinions.
  • #2,011
  • May 19, 2013 1:41pm May 19, 2013 1:41pm
The PTECZ_Trader is Your visual Tool!

You are the Brain!

Use the Tool!
Use Your Brain!

The Tool is nothing without Your Brain!
Trade the facts, not opinions.
  • #2,012
  • May 19, 2013 2:27pm May 19, 2013 2:27pm
I've not been writing to the thread for a while but I read it and practice on demo. I trade on daily charts so my TFs to look at are MN, W and D.

Here is my analysis of AUDUSD. Any comments from senior members are highly appreciated!

Monthly
Attached Image (click to enlarge)
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Weekly
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Daily
Attached Image (click to enlarge)
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As trend is bearish I'm waiting for PA to retrace to an upper daily PTECZ and close below it to open a position. TP will be a bottom of a PTECZ lying below or a top of weekly PTECZ lying below.
  • #2,013
  • May 19, 2013 3:34pm May 19, 2013 3:34pm
can anyone recommend a good training price action? or webinar?
  • #2,014
  • May 19, 2013 3:44pm May 19, 2013 3:44pm
Hello Dadas,

I have been following the thread for a while and decided to write my first post!

I still have a lot to learn so i post my analysis :

I have plotted the PTECZ on M30, EUR/JPY.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym30.gif Size: 24 KB


Here is the PTECZ on D1.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyd1.gif Size: 25 KB


Here is the PTECZ on W.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyw.gif Size: 35 KB


The price ranged on M30 between the PTECZ and closed inside, so we wait.

I have a hard time reading the candlestick pattern so i don't really know what to do,

But i believe if the price bounce we sell, and if it breaks the PTECZ, we buy?

I'd like some insight please!

Thank you for your time !
  • #2,015
  • May 19, 2013 3:52pm May 19, 2013 3:52pm
Quoting phi1ipp
I've not been writing to the thread for a while but I read it and practice on demo. I trade on daily charts so my TFs to look at are MN, W and D. Here is my analysis of AUDUSD. Any comments from senior members are highly appreciated! Monthly {image} Weekly {image} Daily {image} As trend is bearish I'm waiting for PA to retrace to an upper daily PTECZ and close below it to open a position. TP will be a bottom of a PTECZ lying below or a top of weekly PTECZ lying below.
Your PTECZs are perfect, bravo!

Your ability to read Price Action and Trend are very poor!
In your Trading context there is no Trend, there is Consolidation.
You want to wait until the Price retraces back up to the PTECZ?
There is the same Pip Potential Up as there is Down.
Price is in a big Range/Consolidation.
What is the logic?

What is there to wait for?
If Price will go up, you should be in Long up to the upper PTECZ.
If Price buonces off the upper PTECZ, you should be in Short, to the lower PTECZ.

You are confusing ideas.
You wait for retrace to the upper PTECZ on Bearish Trend when
there is more Pips to gain in Short than in Long and the Trend is strong.

I repeat, there is no Trend in your context of Trading this pair!

But, in the end it is your Trading and your decision!

Additionally, you do not even know if the Price is going to retrace up.
The Daily Bearish Trend is strong and there is no current Daily PTECZ.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: Philipp2.png Size: 70 KB
Trade the facts, not opinions.
  • #2,016
  • Edited 4:46pm May 19, 2013 4:03pm | Edited 4:46pm
Quoting zbinow3411
can anyone recommend a good training price action? or webinar?
Yes, you are in the right place.

As far as webinars, look for Sam Seiden.
He is the Supply/Demand Guru!

The only training in Price Action is reading the chart.

The basics are in the first posts. The rest is your work.

Nobody can teach you to read the chart if you do not start doing it!

Learn the alphabet, then put the letters together, make sentences and whole stories!

Learn the construct of the Japanese Candlestick. That is the alphabet.

If you are looking for shortcuts, then you can learn the Candlestick Patterns.

But, they mean nothing if you do not learn the alphabet, first.
Trade the facts, not opinions.
  • #2,017
  • May 19, 2013 4:22pm May 19, 2013 4:22pm
Quoting abliriu
Hello Dadas, I have been following the thread for a while and decided to write my first post! I still have a lot to learn so i post my analysis : I have plotted the PTECZ on M30, EUR/JPY. {image} Here is the PTECZ on D1. {image} Here is the PTECZ on W. {image} The price ranged on M30 between the PTECZ and closed inside, so we wait. I have a hard time reading the candlestick pattern so i don't really know what to do, But i believe if the price bounce we sell, and if it breaks the PTECZ, we buy? I'd like some insight please! Thank you for your time...
Your analysis is a total mess!
You started out the W1 wrong and the rest followed.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyweekly.png Size: 76 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily.png Size: 67 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 67 KB

And that may be all you need.
Trade the facts, not opinions.
  • #2,018
  • May 19, 2013 4:34pm May 19, 2013 4:34pm
Quoting phi1ipp
I've not been writing to the thread for a while but I read it and practice on demo. I trade on daily charts so my TFs to look at are MN, W and D. Here is my analysis of AUDUSD. Any comments from senior members are highly appreciated! Monthly {image} Weekly {image} Daily {image} As trend is bearish I'm waiting for PA to retrace to an upper daily PTECZ and close below it to open a position. TP will be a bottom of a PTECZ lying below or a top of weekly PTECZ lying below.
@ phi1ipp,
I may be confusing your contexts, but I do not know what you are Trading.
You say you are Trading D1, and you suggest Trading at H4 level, actually,
if you are talking about that small retrace inside the Floor Green PTECZ?

Your context of Trading the D1 chart should be all the way up to the upper
Green PTECZ, then it makes sence to Trade the D1 chart,
but does not make sence to wait for retrace.

What you are suggesting should be Traded of the H4 chart!
Trade the facts, not opinions.
  • #2,019
  • May 19, 2013 4:49pm May 19, 2013 4:49pm
Didn't have to wait long until my analysis came to real!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 67 KB
Trade the facts, not opinions.
  • #2,020
  • May 19, 2013 5:29pm May 19, 2013 5:29pm
Quoting Dadas
{quote} Your analysis is a total mess! You started out the W1 wrong and the rest followed. {image} {image} {image} And that may be all you need.
Thank you for the quick response

I can see better now,

I see that the price just moved 100 pips and retraced these 100 on your W1 PTECZ, does that mean one should have entered long in the bottom of the PTECZ?
Plus, it had breakthrough the D1 PTECZ, but retraced on W1 and again is inside the D1 PTECZ, so it means W1 PTECZ is more important?

how could one enter early and seize the retrace oppurtinity in this case, or was it too risky, because it moved really fast.

My questions may be stupid and may have been asked before, sorry for that !
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