Attachments: Price Action in Day Trading by Dadas

Price Action in Day Trading by Dadas

#3,021
Aug 29, 2013 1:02pm Aug 29, 2013 1:02pm

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

Quoting deluna2189

Disliked

{quote} Never more orders go against the trend!! This is a way of speaking, you should not take it at face value. You did not understand the meaning of my sentence. Indeed I believe that the indicators should be used by who knows what he's doing. Attached is a new version: 1. - Resizing a single factor (fsize = 1, 0.7, 3, etc. ..). - Programming is made with a matrix so do not simply change the font size and the LED- 2.-You can disable Trend indicator for those who are just starting with the study of PA - 'Show_Trend = True / False. {image} {image}...

Ignored

Oh, I understand, perfectly, believe me.

As for your indi, I just introduced a simple solution which works.
Other than that, I have no time to dwell with your code and I don't intend to.

Your lights are totaly useless and carry no vital information.
They only confuse people, that's all.

I have been through the Flashing Lights faze about a year and a half ago.

But, everyone has their own path to walk.

Trade the facts, not opinions.

#3,022
Aug 29, 2013 2:30pm Aug 29, 2013 2:30pm

bedayan
| Joined Dec 2011 | Status: Trader | 183 Posts

Hi Deluna,

you have so many PTECZ available in H4 chart .Why you particularly selected only those 3 PTECZ in your chart?

I am able to indentify the PTECZ. But in the process of identifying the PTECZ I am finding the gap between two PTECZ small to trade.I do't use Multi time frame for identifying the PTECZ. I only use daily chart to trade and identify the PTECZ on daily chart only.

I am trying to trade between two PTECZ. If price break out from one PTECZ.Then I wait for retracement to that ptecz and enter trade my take profit will be next PTECZ. But most of the time I identify very small room for take profit.
Is there way you measure one PTECZ to another PTECZ distance should be certain amount of pips or more than that? Please note I only trade in daily chart.

#3,023
Aug 29, 2013 5:18pm Aug 29, 2013 5:18pm

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

Quoting bedayan

Disliked

Hi Deluna, you have so many PTECZ available in H4 chart .Why you particularly selected only those 3 PTECZ in your chart? I am able to indentify the PTECZ. But in the process of identifying the PTECZ I am finding the gap between two PTECZ small to trade.I do't use Multi time frame for identifying the PTECZ. I only use daily chart to trade and identify the PTECZ on daily chart only. I am trying to trade between two PTECZ. If price break out from one PTECZ.Then I wait for retracement to that ptecz and enter trade my take profit will be next PTECZ....

Ignored

Bedayan,

Your problem is in identifying the swing levels and platforms (consolidations).
I told you about the averages and I gave you the indicator.

You don't need all PTECZ levels.

And, you need to learn Price Action and the Market Structure.
You are, obviously unable to read the Market from the chart.
So, you will never have any confidence until you learn those elements.

Phi1ipp is trading exactly your style, Long Term on D1.
He is doing fine with PTECZ Levels.
He told me he is willing to talk to you.

I am available, too, if you want.

I talk with Phi1ipp almost every day.
Thus, he has results.

So, get in touch with Phi1ipp, or get in touch with me.

Yes, Deluna2189 can answer your questions, too.

But, remember, you will never get it until you learn to read the chart!

Trade the facts, not opinions.

#3,024
Aug 29, 2013 6:05pm Aug 29, 2013 6:05pm

deluna2189
| Joined Jun 2011 | Status: Trader | 63 Posts

Hi, Bedayan,

Mr.Dadas has given to you good advice, follow them:

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Believe me if you can have your own solid vision of price action, then you will be profitable in Forex.!!

#3,025
Aug 29, 2013 8:21pm Aug 29, 2013 8:21pm

phi1ipp
| Joined Sep 2011 | Status: Trader | 240 Posts

Quoting bedayan

Disliked

I am able to indentify the PTECZ. But in the process of identifying the PTECZ I am finding the gap between two PTECZ small to trade.I do't use Multi time frame for identifying the PTECZ. I only use daily chart to trade and identify the PTECZ on daily chart only. I am trying to trade between two PTECZ. If price break out from one PTECZ.Then I wait for retracement to that ptecz and enter trade my take profit will be next PTECZ. But most of the time I identify very small room for take profit. Is there way you measure one PTECZ to another PTECZ distance...

Ignored

Bedavan,

if you trade from D1 charts then you should probably try to find W1 PTECZ or wick-zones. Because they are from higher timeframe so have more power. I enter from D1 chart but look at W1 zones. And after you entered just manage your position and let it run till next W-zone. You might be able to scale it using D1 zones along the way if you like. That's my approach.

Now is a good time to look at Aussie.

#3,026
Aug 30, 2013 10:21am Aug 30, 2013 10:21am

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

To help you guys who have PTECZ identifying issues,
I have written new versions of Daily_Range_Stats.mq4 and Custom_Range_Stats.mq4

They, now include lines to identify Current Potential High and Low Levels according to Average Range.
These lines are extended into chart's history, thus making it easy to find PTECZ along them.

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By default:
Show_Quadrant_Lines = true
1. Red Solid Line is the Period Average Range Distance Upfrom Period Open Price Level,
2. Red Dot Line is the Period Average Range Half Distance Up from Period Open Price Level,
3. Blue Solid Line is the Period Open Price Level,
4. Green Dot Line is the Period Average Range Half Distance Down from Period Open Price Level,
5. Green Solid Line is the Period Average Range Distance Down from Period Open Price Level,
Show_CR_HL_Lines = true
6. Red Dash Dot Line is the Period Average Range Distance Upfrom Period Low Price Level,
7. Green Dash Dot Line is the Period Average Range Distance Down from Period High Price Level.
You can switch those lines ON/OFF (true/false) and set your individual color, style and width prefferences.

You can also choose which average you want to use:
Which_Average = 0 means This 5 Periods,
Which_Average = 1 means Last 5 Periods.

Hopefully, these modifications will help you to better see the situation on the chart.

Attached File(s)

Custom_Range_Stats.mq4 23 KB | 472 downloads

Custom_Range_Stats.ex4 10 KB | 366 downloads

Daily_Range_Stats.mq4 36 KB | 420 downloads

Daily_Range_Stats.ex4 12 KB | 347 downloads

Trade the facts, not opinions.

#3,027
Aug 31, 2013 7:31am Aug 31, 2013 7:31am

ena816
| Joined Jul 2013 | Status: Trader | 11 Posts

Quoting Dadas

Disliked

{quote} {image} {image} If your target is to trade the gap between PTECZ's, then basically, correct. However, I can see you're only crawling, yet. Just, keep up, don't give up!

Ignored

Hi, Dadas,

I read the the first 20 pages again and again, and did more practices. And I've tried to look at the chart more globely, but still felt sth limited my mind. I know more reading and practices needed.

Some practices are here.

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#3,028
Edited 10:49am Aug 31, 2013 8:56am | Edited 10:49am

bedayan
| Joined Dec 2011 | Status: Trader | 183 Posts

Quoting Dadas

Disliked

To help you guys who have PTECZ identifying issues, I have written new versions of Daily_Range_Stats.mq4 and Custom_Range_Stats.mq4 They, now include lines to identify Current Potential High and Low Levels according to Average Range. These lines are extended into chart's history, thus making it easy to find PTECZ along them. {image} {image} By default: Show_Quadrant_Lines = true 1. Red Solid Line is the Period Average Range Distance Upfrom Period Open Price Level, 2. Red Dot Line is the Period Average Range Half Distance Up from Period Open Price...

Ignored

Hi Dadas,

Thanks for the indicator.In daily chart I am not able to plot both weekly and monthly level.when I am trying to plot weekly was overridden by monthly.Is it possible we can plot weely and month both together.You can see following example for your reference.

This is happening with daily range also.Once I set the daily range.After that when I am trying to plot weekly range also its removing the daily range lines.Is it possible to keep all the lines? Unless we remove the indicator.

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#3,029
Aug 31, 2013 1:18pm Aug 31, 2013 1:18pm

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

Quoting bedayan

Disliked

{quote} Hi Dadas, Thanks for the indicator.In daily chart I am not able to plot both weekly and monthly level.when I am trying to plot weekly was overridden by monthly.Is it possible we can plot weely and month both together.You can see following example for your reference. This is happening with daily range also.Once I set the daily range.After that when I am trying to plot weekly range also its removing the daily range lines.Is it possible to keep all the lines? Unless we remove the indicator. {image}

Ignored

Well, whatever!
You ask, you get!

The attached versions can be applied in as many instances as there are Timeframes on MT4

Attached File(s)

Custom_Range_Stats.mq4 25 KB | 431 downloads

Custom_Range_Stats.ex4 9 KB | 365 downloads

Daily_Range_Stats.mq4 36 KB | 406 downloads

Daily_Range_Stats.ex4 13 KB | 344 downloads

Trade the facts, not opinions.

#3,030
Aug 31, 2013 1:21pm Aug 31, 2013 1:21pm

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

Quoting ena816

Disliked

{quote} Hi, Dadas, I read the the first 20 pages again and again, and did more practices. And I've tried to look at the chart more globely, but still felt sth limited my mind. I know more reading and practices needed. Some practices are here. {image} {image} {image} {image}

Ignored

You're, actually, doing a pretty good job!
Yes, you need a lot of chart-hours, a lot!

Trade the facts, not opinions.

#3,031
Sep 3, 2013 8:51am Sep 3, 2013 8:51am

mabmz1
| Joined Mar 2013 | Status: Trader | 5 Posts

Hi Dadas
can you comment on my EJ chart, i still not sure on selection of PTECZ & TBCZ ..thanks

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#3,032
Sep 3, 2013 12:58pm Sep 3, 2013 12:58pm

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

Quoting mabmz1

Disliked

Hi Dadas can you comment on my EJ chart, i still not sure on selection of PTECZ & TBCZ ..thanks {image}

Ignored

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Trade the facts, not opinions.

#3,033
Sep 3, 2013 3:45pm Sep 3, 2013 3:45pm

phi1ipp
| Joined Sep 2011 | Status: Trader | 240 Posts

Here is my pair to observe for retest...

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#3,034
Sep 4, 2013 4:52pm Sep 4, 2013 4:52pm

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

What GBP-USD want to do. CSCZ mode

Monthly

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Weekly

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Daily

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#3,035
Sep 5, 2013 1:36am Sep 5, 2013 1:36am

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

What EUR-GBP want to do? CSCZ mode

Monthly

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Weekly

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Daily

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#3,036
Sep 5, 2013 3:46am Sep 5, 2013 3:46am

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

What EUR-USD want to do? CSCZ mode

Monthly

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Weekly

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Daily

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#3,037
Sep 5, 2013 3:51am Sep 5, 2013 3:51am

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

EUR-GBP up move(Forecast)

GBP-USD up move(Forecast)

EUR-USD up move(Forecast)

as a result

EUR-USD 2x up move

GBP-USD 1x up move

EUR-GBP 1x up move

#3,038
Sep 5, 2013 4:24am Sep 5, 2013 4:24am

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

Quoting P.Action

Disliked

EUR-GBP up move(Forecast) GBP-USD up move(Forecast) EUR-USD up move(Forecast) as a result EUR-USD 2x up move GBP-USD 1x up move EUR-GBP 1x up move

Ignored

First of all, you forgot that we don't predict!!!

Second, you have a strange way of plotting CSCZ???

Like, you plot the Resistance CSCZ at Support and Support CSCZ at Resistance???

GBPUSD

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