Multiple time frame 24ema

GREAT TOOL

Divergence rocks and from M1 to Monthly Tf you will always find them.
I think a great way to spot them is to zoom out so you can locate the peaks and valleys to connect.

TEMPLATE ET AL

I'm confident to start the new trading week with Europe open, I see very little change to this method so I can safely say I expect to fund another live account soon: I was up 25 percent by Wednesday and gave back a lot and ended with 8%, could have ended the week with 100% but the losses only made me tweak and derive a sharper edge.

TEMPLATE CORRECTION

I had intended the 24LWMA to show in H8, (48LWMA in H4), d1 W1& MN: then the 14LWMA would show on H1 down to M1, but some how I merely changed the 14 to 24 and left it like that.

The template was flawed from the factory. lol

That had kept me from taking precise entries today, and I discovered latter.
I have corrected template to show 14LWMA on the LTFs and @$ LWMA from H4 to MN

TRIPLE TIME FRAMES

I tried to use the MTF Stochastic in 3 time frames, and it was interesting but the challenge was really in telling exactly when the Higher TFs switched or crossed.
I had to employ the use of the Histogram option which the custom indicator provided and it showed the cross very clearly.
Now comes the hard part, MTF indicators, I have observed repaint the past so this makes manual back-testing not too reliable and as such you need a simulator to really see what you went down, the blow by blow account of the fight between the Bears and the Bulls.
Observing the MTF indicators in real time reveals that the H1 Stoch may change colour after the closing of the 55 min candle (on the M5 TF or 59 min candle in M1 TF) but once the new hour starts the repainting during the past hour stops. This applies to any other higher time frame setting you use.

I like when the H4, H1 and M5 are in synch, in fact you may combine D1, H4, M30.
It's a development that I'ld be watching very keenly to see how this filters out higher probability signals for me.
Took 20 pips today from Cable with a harmonisation of H4, H1 and M5

4 TIME FRAMES ON 1 CHART

That s what you get when you add the 48lLWMA, the H4 MTF Stoch, H1 MTF Stoch and the lower time frame Stoch.

Too bad I missed a great entry (got to my day job office late), still took 10 pips and ran cos of impending news release.

4 time frames template

Try saying MTF EA - that is what I am working on.

And indeed, it is very hard. The "MTF" strategy works great in real-time but to program it is an entirely different story.

Speaking of... do you program your own indicators?

Through real-time observation, I see MTF indicators repaint the past
For instance on the Hour chart Stochs may be pointing North all the way into the 8th hour of the day and continue into 09.15 then from 09.18 turn south, on the M5 Time Frame, you might get a sell signal with your MTF indicator pointing South or crossing and combined with the period Stoch crossing, if you take that signal, you may be in a loosing position when at 10.05 the H1 Stoch points North again. At this point the MTF Stoch would merely repaint the past readings.
So the approach I take for now until I can get around this challenge, is that of working with the current/most recent signal.

I'm yet to graduate to learning the Meta Quotes Language, still struggling to use some of the awesome indies some of you guys have been able to come up with, some are piss poor wonder how people make pips consistently with them.

For now I make do with the MTF Stochastic from www.truetl.com (got to know them through FF),

For your project you may need to enlist some paid high grade professional help (just thinking let them do the work and you reap the fruits).

BTW I like your avatar, the enigmatic "Mr V for Vendetta"

I see what you are up against, first create solid reliable MTF indies: Thend secondly build an EA based on the indies and settings and buy sell criteria, I don't envy you at all a tall order you got but for sure it's achievable.

IMPULSE TRADE

I lost 12 pips yesterday and was too tied down to take any more signals. It was an impulse trade.
I did not verify the direction of the H1 Stoch in the M1 Tf before pulling the trigger, I had essentially berated myself for not getting to the office early enough to catch the Bull run on the GBPUSD so I jumped the gun close to LO.
I should have recovered and sold immediately, but you know the blinding pain of loss.....
So I resolved to overcome that inertia, that freezing response to danger or pain.

WEEK ENDING

In reviewing the week I see that i need to-
1 Stop, impulse trades,
2, Take every valid signal,
3, Take more than 8 pips per trade.

I also want to focus a little more on M15 like today, 3 trades, net positive results.
my cumulative this week is below last week's.

GREAT VIDEO

GREAT WEEK IT'LL BE

Started with an error on my part but I'm fighting back

GOOD FIGHT

The second trade was a valid signal, right call but market changed it's mind.
3rd and 4th trades went well. (i almost exited the 4th).

In all a net of +20 pips.

SECOND GUESSING

I was really upset with myself today after I saw my trigger on M1 but second guessed the signal because it was on a BRN, I then shifted to M15 to get a second opinion and entered after M15 gave the signal by that time several crucial pips had been left on the table and had I entered with M1, I could have held on for 20 pips at least before bailing out for fear of news.
I ended up not taking any more signals for the day.

SO MUCH PIPS LEFT ON THE TABLE

I should take this business very seriously, those pips sure are not coming back, but in all I think the main skill to master in trading is emotion handling (if there is such a word), because I just panicked and left the market without a good fight, I think at the back of my mind was the fear of giving a single pip back after having netted 60% this month as against 30% last month.

I need to remind myself this is a LIVE "practice" account. I just need to attain consistency with this approach, I'm looking at a daily net minimum of 20 pips and I'm made. With GBPUSD pair 20 pips a day is a "sitting duck" target using this approach.

I have to go back to my pledge again!!!

REVIEW TIME

One advantage of trading for yourself is that you can take a break whenever you choose, like I am right now.
I want to review my trades, see the ones that I could have milked for maximum pippage, and the ones I could have avoided, see the stand-out trades, and the silly ones.
September was a turn around as I was near the deep end of my First ever Forex Account until I tried the MTF Stochs approach, back-tested it and increased my lot size 3 fold to prove the system in real time.
30% from 26 trades in September was not bad (average of 1.16% per trade), so also 61% from 53 trades in October (1.15% per trade)
This shows a better performance (average) in September.
There were more impulse trades, deviations and second guessing in October, these should not be repeated in November and the watchword should be "TAKE EVERY VALID TRADE SIGNAL".
I'm having a hard time creating an explorer, even the myfxbook could not connect, hope my new account won't have this issue.

WELCOME NOVEMBER 2013

The last two days of October were awesome, pity I stayed out of the market.
I took time to see what could be removed and what could be added and I added the H1 trend -24LWMA. I see this as a good level of Dynamic support and resistance and a great aid to scalping in ranging markets.
Also added was the Heiken Ashai Tape (in place of the candles) it helps your decisions when conflicts arise over candle close above or below 14LWMA and Stoch cross up or down.
Had a good entry today and would have made multiple entries but the re-entry opportunities came too long after the main position had been in negative.
23 pips is not too shabby a start for the month.

MASSIVE DRAWDOWN

I took 4 trades today all were losses, 16% equity DD.

I almost threw away this system cos I was following the signals that had generated profits before but now was bleeding pips.
I went the way of seeking a "Better Indicator" to use (one that would not repaint the past on me) but had to re think why I chose the MTF Stohastic approach, which is so i can profit both ascending and descending markets and not be bound to a "TREND".
so what I'd do is go back and see how to work with the MTF stoch even with all the repainting.

BACK TO THE BASICS

I decided to observe the O/B, O/S rotations of the Stochastic oscillator and see how it combines with the mtf indicator in real time, and it seems it'd make decision making simpler.

AFter this I'd try and see the workings of Divergence and how best to capture them concretely in real time.