Disliked{quote} NP - its the AllAverages indy, with ~14 different ones. Method 1 is EMA and Method 3 the LWMA which I prefer. {file}Ignored
- #53,082
- Jul 9, 2013 4:42am Jul 9, 2013 4:42am
{quote} OK - so here are the basics of how I am using the indicators from TAH & Sonic for my trading of Intra Day Swings mainly during the London Session.......although I do trade both the AudUsd & UsdJpy before LO as the Australasian Session is still open. The safest trades are the pure Sonics - a pull back towards the 15m Dragon which is above / below the 15m 89 ema. However, we often have to wait some time for these, so I have a different format for giving me more potential trades based on using the 5m & 1m dragons for Objective Entries. So at...
My plan is to go back to classic entries now that I have more experience with PVSRA and use it as an analysis tool. But you are right that sometimes in m15 you have to wait quite a lot. Also, I feel like PVSRA works quite well, but I'm not winning as much money as I could because the R/R ratio is not so high and the time I spent in the trades (normally days or weeks) doesn't worth it.
A couple of questions regarding your post (answer them when you can, no hurry):
- When you enter a second or third scout, where do you put your SL? At the same point than the first one or you put it below/above the last swing.
- When you plot other tfs EMA, you put the 34 (dragon) or 89?
But your post helped me a lot, thanks again.
Best, Tymedu.
To fail is just an opportunity to learn
- #53,084
- Edited 5:48am Jul 9, 2013 5:32am | Edited 5:48am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Thanks for that. Its most generous of you. I have checked the code, it doesn't seem to plot the 2 different dragons (M5/ M15) in iteself unless I am mistaken. But do you enter use it by entering some specific paramaters (used by the Sonic dragon indicator)?
@Ravelet - see above
Trading Levels with WRBs
- #53,086
- Jul 9, 2013 5:47am Jul 9, 2013 5:47am
{quote} They are plotted as separate MAs - so the 15m dragon would be a 34 x 3 = 102 EMA on the 5m chart etc etc. I also show it in the middle of the dragon. Likewise, a non coloured 34 ema has just +/- 40 pip dashed outer bands as a reminder that price is a long way from the dragon and can be expected to pull back - except in VERY strong moves where the dashed band will show when the move starts to loose momentum
- #53,087
- Edited 5:57am Jul 9, 2013 5:47am | Edited 5:57am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Perfect explanation Islander, thank you so much for taking the time to post this
My initial hard stop will be beyond the last swing turn - which should not be far away if you have chosen correctly and I would also use that for my next entry.......but my MENTAL stop will always be dynamically set by the dragon. The PA in a move should remain above / below the dragon and inside the outer band.
I only show the higher TF dragons on my lower TF charts - otherwise there's too much clutter.
Trading Levels with WRBs
- #53,089
- Jul 9, 2013 6:01am Jul 9, 2013 6:01am
{quote} When you look at the ID ranges, you can see that all of the contracts that I watch - €Usd, UsdJpy, GbpUsd, AudUsd, UsdChf and €Jpy have ranges > 100 pips, so this trading is about looking to get half of those swings every day from at least one of them - start with which ever you are most familiar with and just the 5m & 15m. My initial hard stop will be beyond the last swing turn - which should not be far away if you have chosen correctly and I would also use that for my next entry.......but my MENTAL stop will always be dynamically set by...
One more question and I let you to rest. How do you setup the outer bands? I tried with the shift and with BBs but I was not able to do it. Last question, promise
To fail is just an opportunity to learn
- #53,093
- Jul 9, 2013 6:35am Jul 9, 2013 6:35am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Thanks again Islander. One more question and I let you to rest. How do you setup the outer bands? I tried with the shift and with BBs but I was not able to do it. Last question, promise
PS Try a -600 on the 5 min cable chart and see if it tells you anything
PSS PM me if you have an further queries, I dont want to take up any more thread time
PSSS and yes, I do have an initial long scout in Cable after that hit on today's RDL
Trading Levels with WRBs
- #53,097
- Jul 9, 2013 6:49am Jul 9, 2013 6:49am
{quote} Go to Indicators, trend, Moving Average, period 34, MA Method: EMA, Apply to: Close. Then set the colour (style) to None. Then click on Levels and add a dashed grey line at +400 and -400 for 40 pips. NB these are dynamic numbers and may be changed to suite less / more volatility - they are just a reminder. PS Try a -600 on the 5 min cable chart and see if it tells you anything
But from now on if I need anything else, I'll PM you. Best, Tymedu
To fail is just an opportunity to learn
- #53,098
- Jul 9, 2013 7:08am Jul 9, 2013 7:08am
{quote} Go to Indicators, trend, Moving Average, period 34, MA Method: EMA, Apply to: Close. Then set the colour (style) to None. Then click on Levels and add a dashed grey line at +400 and -400 for 40 pips. NB these are dynamic numbers and may be changed to suite less / more volatility - they are just a reminder. PS Try a -600 on the 5 min cable chart and see if it tells you anything
Setup is perfect for scalping!!!! Thx
Creditors have better memories than debtors.
- #53,100
- Jul 9, 2013 8:04am Jul 9, 2013 8:04am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker