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Third Screen Strategy - Dr. Alexander Elder

  • #721
  • May 26, 2013 2:27pm May 26, 2013 2:27pm
Quoting 100PipsADay
Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs AUD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up CAD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up NZD/JPY: Weekly - Up Daily - Up Open Positions - Up Overall - Up GBP/AUD: ("over bought" so BUY with caution) Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/AUD: ("over bought" so BUY with caution) Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/CAD: Weekly - Down Daily - Down Open Positions - Flat Overall -...
Pippy,
Do you have time for a Bias update for this week?
  • #722
  • May 26, 2013 2:50pm May 26, 2013 2:50pm
Quoting rexio
{quote} Sometimes there is a difference with the macd of macd_adjustable. That is because of rounding effects with small numbers in the calculations inside MT4. Macd_adjustable calculates the macd differently than officially is done in MT4. The algorithm is the same, only the way of calculating is different. When you do that , you run quickly into the problem of rounding off small numbers. A slight difference in the way of calculating may result then in a different outcome in that case.In my opinion, the effect is marginal and small. It affects...
Hi Mr. Rexio,
You are right. There is a difference between built-in MACD and MACD_adjustable. I posed about this earlier. To comply with macd_adjustable a new MACD named MACD3SS has been developed for necessary calculation and the EA has been developed according this. Please be noted that the reading of MACD_adjustable and MACD3SS is same. So I hope the EA will work according the value of MACD_adjustable.
Thank you all.

Regards.
KISS - Keep It Simple Smart !!!!
  • #723
  • May 26, 2013 3:05pm May 26, 2013 3:05pm
Quoting MKFXTrader
{quote} Pippy, Do you have time for a Bias update for this week?

Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs

AUD/JPY:
Weekly - Up
Daily - Down
Open Positions - Down
Overall - Down

CAD/JPY:
Weekly - Up
Daily - Down
Open Positions - Down
Overall - Down

NZD/JPY:
Weekly - Up
Daily - Down
Open Positions - Down
Overall - Down

GBP/AUD:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

EUR/AUD:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

EUR/CAD:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

EUR/USD:
Weekly - Down
Daily - Down
Open Positions - Down
Overall - Down

AUD/NZD:
Weekly - Down
Daily - Down
Open Positions - Down
Overall - Down

GBP/USD:
Weekly - Down
Daily - Down
Open Positions - Down
Overall - Down

GBP/NZD:
Weekly - Up
Daily - Up
Open Positions - Up
Overall - Up

NZD/USD:
Weekly - Down
Daily - Down
Open Positions - Down
Overall - Down

AUD/USD:
Weekly - Down
Daily - Down
Open Positions - Down
Overall - Down
  • #724
  • May 26, 2013 3:13pm May 26, 2013 3:13pm
Quoting 100PipsADay
{quote} Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs AUD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down CAD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down NZD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down GBP/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/CAD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/USD: Weekly - Down Daily - Down Open Positions -...

The AUD$ continues to be the weakest currency out of the majors. Lets see if it continues to slide this week.
Trade what you see, not what you think!
  • #725
  • May 26, 2013 3:29pm May 26, 2013 3:29pm
Quoting 100PipsADay
{quote} Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs AUD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down CAD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down NZD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down GBP/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/CAD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/USD: Weekly - Down Daily - Down Open Positions -...
Thanks 100pip.
  • #726
  • May 26, 2013 3:35pm May 26, 2013 3:35pm
Quoting MKFXTrader
{quote} Thanks 100pip.
  • #727
  • May 26, 2013 3:41pm May 26, 2013 3:41pm
Quoting 100PipsADay
{quote} Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs AUD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down CAD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down NZD/JPY: Weekly - Up Daily - Down Open Positions - Down Overall - Down GBP/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/AUD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/CAD: Weekly - Up Daily - Up Open Positions - Up Overall - Up EUR/USD: Weekly - Down Daily - Down Open Positions -...
Just wondering how do you come up with your general direction...MA? Osc?? Pivot Points???
  • #728
  • May 26, 2013 3:47pm May 26, 2013 3:47pm
Quoting robby
{quote} just wondering how do you come up with your general direction...ma? Osc?? Pivot points???
Are you freaking serious, with this BS question?
  • #729
  • May 26, 2013 3:53pm May 26, 2013 3:53pm
Quoting rexio
{quote} Hallo MKFXTrader, Yes, the dashboard has been tested and it works correctly according its specifications.You have to see it as a summarizing indicator : It takes the daily macd and the hourly Williams%R and combines both per pair.
Really?

Here is what I think, we are your guinea pigs, 60 downloads now, and NO ONE has really even looked at this yet, let alone "tested" it!

Big statement, I know, so let us check out 2 pairs, first USD-CAD as all 4 arrows are the same, Daily MACD is above center line, price above both 20 & 50 EMA, on 1 Hour W%R is below -80, so we are in BUY zone, all seems to be OK, excellent.

There is another pair with 4 up arrows, must be the same, right?

AUD-CAD on Daily the MACD is below center line, price is below both 20 & 50 EMA, so must be looking for SELL entry, right?

Switch to 1 Hour chart, W%R is below -80, and Dashboard indicates OK to BUY???

I think something changed around in the programming?

Are there any other pairs just like this? Please post the "test" results, or maybe other guinea pigs could help?

A suggestion, if the W%R arrow could be programmed to show up ONLY in the direction of the MACD (or 20 & 50 EMA) that would be great.

That would be accordance with the method rules!

For example, the USD-CAD is great the way it is, but once the AUD-CAD arrows are corrected, the W%R arrow would NOT show until it was in the 0 to -20 range, thereby displaying 4 down arrows for a confirmed SELL opportunity.

When it takes longer to decipher what the dashboard is telling me, and not sure if I can trust it either, then it is quicker, and safer, to go and look at 2 charts, agree?

Hope that helps, E.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: dash_1.png Size: 60 KB
Click to Enlarge Name: dash_2.png Size: 54 KB
Click to Enlarge Name: dash_3.png Size: 59 KB
Click to Enlarge Name: dash_4.png Size: 55 KB
It takes a lot for me to IGNORE you, but you can try.
  • #730
  • May 26, 2013 3:58pm May 26, 2013 3:58pm
Quoting Erebus
{quote} Really? Here is what I think, we are your guinea pigs, 60 downloads now, and NO ONE has really even looked at this yet, let alone "tested" it! Big statement, I know, so let us check out 2 pairs, first USD-CAD as all 4 arrows are the same, Daily MACD is above center line, price above both 20 & 50 EMA, on 1 Hour W%R is below -80, so we are in BUY zone, all seems to be OK, excellent. There is another pair with 4 up arrows, must be the same, right? AUD-CAD on Daily the MACD is below center line, price is below both 20 & 50 EMA, so must be...
I'm guessing the MACD is calculated on the histogram slope, and not by the MA crosses. Only logical answer.
  • #731
  • May 26, 2013 4:00pm May 26, 2013 4:00pm
Quoting MKFXTrader
{quote} rexio, Looking at the dashboard and if one was to keep it along this strategy, I think it would be more effective if instead of three daily readings, one of the MCAD column should read from the weekly chart. What do you think? Have you given it a thought? Have a weekly, D1 and D0 MACD, plus the hourly William R% of course.
Hi MKFXTrader,

No, I did not yet think about this weekly reading. My first concern was to translate the Thirdscreen Strategy into an efficient summarizing overview.

I will collect all remarks and input in the coming period. After that , we will see if and how we will breed another new version.

Interesting point : I looked to the Summary "Weekly, Daily, Open Position, & Overall Bias For Our Most Frequently Traded Pairs" of 100PipAday and I noticed that all the daily indications agreed with the direction of the macd in the dashboard. Perhaps that is why you would like to add the Weekly there also. It might be a good idea.
  • #732
  • May 26, 2013 4:18pm May 26, 2013 4:18pm
Quoting Robby
{quote} Just wondering how do you come up with your general direction...MA? Osc?? Pivot Points???
Oh Dear.

Time to start subscribing spoons with thread memberships!
"To live with Passion, it takes Courage and Grace to survive"
  • #733
  • May 26, 2013 4:19pm May 26, 2013 4:19pm
Quoting MKFXTrader
{quote} I'm guessing the MACD is calculated on the histogram slope, and not by the MA crosses. Only logical answer.
Guess away, but that is not how the method proposed by 100_pips works, and the dashboard is meant to be programmed to that.

I'm with you on the less Daily columns and add the Weekly, how about 3 columns.

Weekly, Daily and 1 Hour

Weekly & Daily can show the position of the MACD, above or below line, BUT the 1 Hour should show an arrow ONLY

when it is in accordance of the Daily direction, as I mentioned in previous post, for example,

when Daily is UP, 1 Hour arrow will only show when W%R is in -80 to -100 as a BUY signal but not show when in the 0 to -20 as SELL signal

when Daily is DOWN, 1 Hour arrow will only show when W%R is in 0 to -20 as a SELL signal but not show when in the -80 to -100 as a BUY signal

Make sense?

So, when Weekly & Daily are opposite, take extra caution, when they agree, go with the 1 Hour signals with more confidence

It takes a lot for me to IGNORE you, but you can try.
  • #734
  • May 26, 2013 4:24pm May 26, 2013 4:24pm
Quoting Britpip7
{quote} Oh Dear. Time to start subscribing spoons with thread memberships!
Speaking of spoons, I had a big wooden spoon here I use for stirring, haven't seen it for awhile





...................






............................. wait a minute, have you got it?



It takes a lot for me to IGNORE you, but you can try.
  • #735
  • Edited 4:43pm May 26, 2013 4:28pm | Edited 4:43pm
Quoting Erebus
{quote} Guess away, but that is not how the method proposed by 100_pips works, and the dashboard is meant to be programmed to that. I'm with you on the less Daily columns and add the Weekly, how about 3 columns. Weekly, Daily and 1 Hour Weekly & Daily can show the position of the MACD, above or below line, BUT the 1 Hour should show an arrow ONLY when it is in accordance of the Daily direction, as I mentioned in previous post, for example, when Daily is UP, 1 Hour arrow will only show when W%R is in -80 to -100 as a BUY signal but not show when...
I was merely trying to help solve the problem to your question.
  • #736
  • May 26, 2013 4:28pm May 26, 2013 4:28pm
Quoting Britpip7
{quote} Oh Dear. Time to start subscribing spoons with thread memberships!

Look I was asking a tech question... how the stuff was calc... I have been doing trading for over 20 years and have code AI systems that trade in many different markets... I was asking how that was arrived at. That is all..... you people need to get a grip here...
  • #737
  • May 26, 2013 4:35pm May 26, 2013 4:35pm
Quoting Robby
{quote} Look I was asking a tech question... how the stuff was calc... I have been doing trading for over 20 years and have code AI systems that trade in many different markets... I was asking how that was arrived at. That is all..... you people need to get a grip here...
Well being that this is the third screen strategy thread, wouldn't it be considerate to the thread participant if you could at least read the 1st post? If you had, then you would understand how or why the bias came about. That is not meant to be demeaning. Just be considerate since it's safe to say it's your first time on this thread, at least find out what it's all about b4 posting such a newbie question. No dis-repect intended. Be understanding and not so sensitive.
  • #738
  • May 26, 2013 4:37pm May 26, 2013 4:37pm
Quoting Robby
{quote} Look I was asking a tech question... how the stuff was calc... I have been doing trading for over 20 years and have code AI systems that trade in many different markets... I was asking how that was arrived at. That is all..... you people need to get a grip here...
Just read through the entire thread then and you should understand HOW and WHY I came to these conclusions in regards to my Bias.


Weekly - Price Action, Current Trend

D1 - MACD

Open Positions - Current Open Positions

Overall Bias - My personal "bias" in regards to current trend taking all above factors into consideration

If you would have read through the thread you would have known all of this... Nobody here needs to "get a grip" it is just irritating answering questions that have been answered over and over time and time again. If you have been trading for over 20 years then you obviously know how to read right?

Also folks, I don't think there should be ANY changes made whatsoever to this system. I have shown over 100,000+ pips gained in real time since August 2011 till now trading 11 different pairs using this system. Go forward test your systems else where and let others view your strategy in your own thread. Rules are simple and clear. Just don't want to cause any confusion...

Thanks!
  • #739
  • Edited 5:19pm May 26, 2013 4:37pm | Edited 5:19pm
Quoting Erebus
{quote} Really? Here is what I think, we are your guinea pigs, 60 downloads now, and NO ONE has really even looked at this yet, let alone "tested" it! Big statement, I know, so let us check out 2 pairs, first USD-CAD as all 4 arrows are the same, Daily MACD is above center line, price above both 20 & 50 EMA, on 1 Hour W%R is below -80, so we are in BUY zone, all seems to be OK, excellent. There is another pair with 4 up arrows, must be the same, right? AUD-CAD on Daily the MACD is below center line, price is below both 20 & 50 EMA, so must be...

hallo Erebus,

How come you talk about "Guinea pigs "?? Strange ! I wanted to do you all a pleasure by providing a handy program. Of course, there can be problems in the beginning, nothing is perfect. What do you want ? The program is for free. If you don't like it, don't use it !

Here we go with your remarks: (Anyway, I thank you for making them because you are the first one who saw, that there is a discrepancy with AUDCAD). By the way, there are a few more discrepancies at the moment, but they are of no concern.(gbpaud 2 days ago). However, audcad gives the biggest discrepancy. I have been thinking about it and I don't know what to do with it. My preference at the moment as far as I can judge it, would be to change the indicator 'macd_adjustable 'towards the official MT4 calculating modus. But that is up to 100PipsDaily, not to me.


You did not read my manual of how to use the dashboard.

Then you would have known, that sometimes there are differences between the macd of the dashboard and the macd of 'macd_adjustable'. I wrote there that I calculated the macd in the official MT4 way : Check this and put the macd of mt4 on your screen and you will discover that already 3 days the difference between macd and its signal value is +++ for AUDCAD !!!

Soo, the dashoard is not wrong. It works according specifications as I have told.

2) I also told you that the W%R column is independent of the macd column. It only shows where the W%R is at the moment. It does not say that you must buy . I specifically wrote that you must combine the macd column and the W%R column yourself !! THINK ! (the only moment, when using this indicator, that you have to do also some work ).

When you will look to the audcad H1 chart, (you showed the chart already), you see, that W%R is in buy mode.
That is what the indicator is showing. Great !! Exactly as I said: it shows the state of W%R , nothing more. According to specifications. What else do you want ??


Anyway, thanks. You were the first one with critical remarks. Keep up the good work.

Anyway, your remark to show up the Arrow only in the direction of the MACD is a good one. However, that would be confusing also for someone, who checks the W%R afterwards. Sometimes it will be then on the dashboard and sometimes not. So, that also is not an ideal situation.
I prefer the situation as it is now, showing the basic values of the indicators. After that it is up to you, what to do with it.

An idea might be : Make an additional column, named "Action" . There could be placed the final advise 'buy' or 'sell'. That could be worth thinking about.
  • #740
  • May 26, 2013 4:40pm May 26, 2013 4:40pm
I am working with Khaled_Ctg right now and we will have an EA for this system ready in the next couple of weeks. Anybody looking to use this system just be patient and I'll be posting it here for everybody to use for FREE.

It will be ready when it's ready
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