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Pure & simple Abonacci system

  • #41
  • Mar 19, 2014 7:45am Mar 19, 2014 7:45am
Quoting hollowhead
{quote} The length settings is the distance between MM levels. All we are doing is creating abonacci phases between the MM levels. If you set the MM 'P' to be for 256 (a year's trading days), then we have annual levels. As long as the 0%/100% line up with the MM Levels we can trade it. For the pairs I have tested non-yen pairs, the MM levels can be broken up into phase lengths of multiples of 122, 244, 488. For yen pairs the MM levels can be broken up into phase lengths of mutliples of 156, 312, 625. The longer the length, the bigger the phase....
Hello Mr Hollowhead
I have followed Your thread from the beginning and I am still trying to figure out how to plot this MM
The original if I may say so and please correct me if I misunderstood is: Open Last year chart and plot the MM form the high to the low of the year and then in each of the MM sections plot the FIB starting from the top to the bottom of each sections of the MM. Then is up to the individual to use his own Time frame to trade. Is it right or I got it all wrong?
And also what about if one cannot plot the MM, are those number 122,244,488, and the other ones for the yen
156,312,625, doing the same job as the MM and if so from where do You start to plot them on the chart? I think I read somewhere MM has 8 sections so I see You only give 3 numbers
Most probably I am making such a mess that will confuse You.... I apologise for that just trying to learn
Have a nice day
  • #42
  • Mar 19, 2014 8:06am Mar 19, 2014 8:06am
Quoting ralfy
{quote} Hello Mr Hollowhead I have followed Your thread from the beginning and I am still trying to figure out how to plot this MM The original if I may say so and please correct me if I misunderstood is: Open Last year chart and plot the MM form the high to the low of the year and then in each of the MM sections plot the FIB starting from the top to the bottom of each sections of the MM. Then is up to the individual to use his own Time frame to trade. Is it right or I got it all wrong? And also what about if one cannot plot the MM, are those number...
Hi ralfy - this is one of those things that is quite hard to describe in written words. I may try and make a video of setting up the charts - can't promise anything.

In the meantime, have you been back to the first post and seen the amended section on setting up the charts I did last night? I have included some images which I think/hope makes it clearer?
  • #43
  • Mar 19, 2014 8:10am Mar 19, 2014 8:10am
HOLLOWHEAD, The update on first post is very helpful but I still have a question concerning point 4

"4. Open Abonacci Template
For pairs with price format x.xxxxx 'Length' 122 (1h TF trading) or 244 (4h TF trading) or 488 (Daily TF trading)
For pairs with price format xx.xxxx or xxx.xxx (usually yen pairs) change 'Length' to 156 (30m/1h TF trading) or 312 (4h TF trading) or 625 (Daily TF trading) and"

for pairs with x.xxxxx format length is 122 for 1h since x.xxxxx is in 5 decimal places don't you think the length should be 1220 for 1h and pairs with x.xxxx format should have length of 122 for 1h?
  • #44
  • Mar 19, 2014 8:37am Mar 19, 2014 8:37am
Quoting sepramfx
HOLLOWHEAD, The update on first post is very helpful but I still have a question concerning point 4 "4. Open Abonacci Template For pairs with price format x.xxxxx 'Length' 122 (1h TF trading) or 244 (4h TF trading) or 488 (Daily TF trading) For pairs with price format xx.xxxx or xxx.xxx (usually yen pairs) change 'Length' to 156 (30m/1h TF trading) or 312 (4h TF trading) or 625 (Daily TF trading) and" for pairs with x.xxxxx format length is 122 for 1h since x.xxxxx is in 5 decimal places don't you think the length should be 1220 for 1h and pairs...
I don't think so. My broker has 5 decimal points and length 122 is correct. See pic below

Attached Image (click to enlarge)
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  • #45
  • Mar 19, 2014 9:38am Mar 19, 2014 9:38am
Hi Hollowhead,

Do you know the length for gold and silver which is currently xxxx.xx and xx.xx respectively for H1/H4/D1 TF?

Thanks
  • #46
  • Mar 19, 2014 9:44am Mar 19, 2014 9:44am
Quoting sam2vt
Hi Hollowhead, Do you know the length for gold and silver which is currently xxxx.xx and xx.xx respectively for H1/H4/D1 TF? Thanks
Also for USOil... Thanks
  • #47
  • Mar 19, 2014 9:44am Mar 19, 2014 9:44am
Quoting sam2vt
Hi Hollowhead, Do you know the length for gold and silver which is currently xxxx.xx and xx.xx respectively for H1/H4/D1 TF? Thanks
Also for USOil... Thanks. Though presently i use 156
  • #48
  • Mar 19, 2014 9:45am Mar 19, 2014 9:45am
GC with 62.50 phase and 1375 baseline
Attached Image (click to enlarge)
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  • #49
  • Mar 19, 2014 10:00am Mar 19, 2014 10:00am
Quoting sam2vt
Hi Hollowhead, Do you know the length for gold and silver which is currently xxxx.xx and xx.xx respectively for H1/H4/D1 TF? Thanks
For Gold - I would use
Baseline - 1250.00
Daily length - 6250
4h length - 3125
1h length 1562

Silver - I would use
Baseline - 21.875
Daily length - 156
4h length - 156 (same as above)
1h length - 78
  • #50
  • Mar 19, 2014 10:05am Mar 19, 2014 10:05am
Quoting ubenders
GC with 62.50 phase and 1375 baseline {image}


My broker uses different price format, but multiplying the length by 10 gives the same output.

Attached Image (click to enlarge)
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  • #51
  • Mar 19, 2014 10:39am Mar 19, 2014 10:39am
Please Hollowhead,
How do you derive the length to be used on any pair? I quite understand the baseline very well.. Hoping to read from you.
  • #52
  • Mar 19, 2014 11:01am Mar 19, 2014 11:01am
Quoting omoluabii
Please Hollowhead, How do you derive the length to be used on any pair? I quite understand the baseline very well.. Hoping to read from you.
Generally, The length is the distance in pips between two Murrey Math levels.

So say on the daily time frame the distance between two Murrey Maths levels is 488 pips - then that is the length we enter into the Abonacci inidicator.This means an Abonacci phase (0%-100%) is 488 pips.

Now if you want more Abonacci phases between the Murrey Math levels, you can enter a length of 244 (488/2= 244). That will give you two Abonacci phases between MM levels on the daily timeframe, if you want even more phases between MM levels you can divide by 4 (488/4=122).

All we are doing is dividing the MM levels into abonacci phases. And what I am suggesting is that you might want to use the shorter length if you are looking at a shorter TF on your chart - but its only a suggestion.

As with most trading methods - the higher TF (and larger length) will be more reliable - but will take longer to complete.
  • #53
  • Mar 19, 2014 11:09am Mar 19, 2014 11:09am
Quoting hollowhead
{quote} Generally, The length is the distance in pips between two Murrey Math levels. So say on the daily time frame the distance between two Murrey Maths levels is 488 pips - then that is the length we enter into the Abonacci inidicator.This means an Abonacci phase (0%-100%) is 488 pips. Now if you want more Abonacci phases between the Murrey Math levels, you can enter a length of 244 (488/2= 244). That will give you two Abonacci phases between MM levels on the daily timeframe, if you want even more phases between MM levels you can divide by 4...

Thanks soo much.. I got the presentation right. I really appreciate.
  • #54
  • Mar 19, 2014 11:10am Mar 19, 2014 11:10am
Quoting omoluabii
{quote} Thanks soo much.. I got the presentation right. I really appreciate.
  • #55
  • Mar 19, 2014 1:11pm Mar 19, 2014 1:11pm
Hi Steve - This looks like a way to add abonacci to different currency pairs. The baselines probably would not be exact according to Bobi's private formula but I bet it would be close enough to trade with the simplified rules you have established. We could probably just eliminate the MML after the Abonacci is set up. I am live and trading Abonacci on the pairs Bobi gave us but I am going to give this a whirl with some other pairs on demo that I enjoy trading (GBP/CAD, AUD/CAD, GBP/JPY & EUR/JPY). Thanks again for grabbing the bull by the horns and riding this animal.
Tom
  • #56
  • Mar 19, 2014 2:46pm Mar 19, 2014 2:46pm
Quoting tomthepoppop
Hi Steve - This looks like a way to add abonacci to different currency pairs. The baselines probably would not be exact according to Bobi's private formula but I bet it would be close enough to trade with the simplified rules you have established. We could probably just eliminate the MML after the Abonacci is set up. I am live and trading Abonacci on the pairs Bobi gave us but I am going to give this a whirl with some other pairs on demo that I enjoy trading (GBP/CAD, AUD/CAD, GBP/JPY & EUR/JPY). Thanks again for grabbing the bull by the horns and...
Hey Tom - Like you I am still trading Abonacci with Bobi's baselines - but those pairs have driven me mad lately. I am hedged and the ranging is not unlocking anything for me, so at the moment its a waiting game (although FOMC may have got the ball rolling).

I also want to play with a few other pairs - and taming 'the beast' would be great. I want to find a way to tip the odds in our favour a little more with this. As with most systems ranging can be a killer, and I want to see how we can limit that as much as possible - but I don't want to cloud the simplicity with a load of indicators/oscillators (although I am partial to a little divergence ).

If we can apply Pure & Simple Abonacci to any pair, then we can be more selective and trade the levels/phases when we can see there is momentum and avoid some of the ranging (can't elimiate it all though). There may be something in the MM levels - I don't know enough about them at the moment, but I know there are rules/assumptions relating to the particular MM levels - this MAY give us a little added edge. I am going to do some research and see if there is anything worth backtesting.

Great to have you on board here.
  • #57
  • Mar 19, 2014 2:49pm Mar 19, 2014 2:49pm
GU long and then reversal.

Attached Image (click to enlarge)
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  • #58
  • Mar 19, 2014 4:17pm Mar 19, 2014 4:17pm
Sorry for this post, but how to install these indicators into the mt4 platform? Actually, I have put these indicators into its respective folders but I cannot see it after opening the platform. Thanks
  • #59
  • Mar 19, 2014 4:26pm Mar 19, 2014 4:26pm
Quoting hartnet
Sorry for this post, but how to install these indicators into the mt4 platform? Actually, I have put these indicators into its respective folders but I cannot see it after opening the platform. Thanks
They both go in the Indicators folder - if you MT4 has upgraded you will need to put them in the Indicators folder that is inside the MQL4 folder.

Steve
  • #60
  • Mar 19, 2014 8:47pm Mar 19, 2014 8:47pm
Hollow, further to your post #52 if anyone is looking at the indices it is a matter of subtracting one MM level from the next and then multiplying by 100.
And may I make a suggestion: if you change the MM figures in your template this would cut out one of the steps in the first post. Just makes it a bit easier for everyone.
Cheers, Bob
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