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Islander and Medici trade the European open

  • #4,781
  • Edited 3:01am Mar 27, 2014 12:34am | Edited 3:01am
Quoting huskyboy
{quote} Thanks but how do you add that 3 pip band ? and how do you set the centre line to none. In general i have also problems to upload new indicators in that 600 build platform but thats a problem i have to resolve by myself. Never realised that you paid so much attention to those ema's. Thought the stochs were more inportant for you.

Add the standard EMA, set the colour to none and add +30 and -30 levels and set their style, colour etc as you wish....

Edit: Yes, the EMAs are very important to me. Price always returns to an EMA - the lower the TF and faster the EMA, the more often this will happen.

Thus I look to make my entries in the small band around the 25 EMA - subject to confirmation by my indicators. The stochs are a part of this confirmation
Trading Levels with WRBs
  • #4,782
  • Mar 27, 2014 3:33am Mar 27, 2014 3:33am
Here the € has been holding above a much tested support zone with the M15 stoch staying in the OS / sell zone. As the price gets down to that zone, note how the TVI has higher lows - positive divergence and an early warning that the downward pressure is easing.

At 8:48 price moves up and the M15 stoch comes out of its OS zone and its colour changes to blue. Then price crosses the 25EMA which also changes its colour to blue and the ASCTrend arrow pops up.....so a potential buy.....BUT its better to wait for a pull back, especially as the 125EMA is still heading down.

There is a pull back so try a half sized buy at 9:02 - that quickly goes to +8.....but I'd like to see +10, which doesn't happen so take what's on offer somewhere around the 125 EMA.

At the next grey line, price has already turned back down as has the 25EMA, so a potential sell - or wait for the pull back and get in later at 9:47. There is then an 18 pip drop to a new low with two coloured higher volumes candles...at 10:08 the M5 stoch turns up and the TVI turns blue, so its time to exit if we have not done so already with some 15 pips banked....
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Trading Levels with WRBs
  • #4,783
  • Mar 27, 2014 10:18am Mar 27, 2014 10:18am
Quoting Islander
{quote} LOL - now only the BBs for squeeze.....stochs + TVI are IMO sufficient - less clutter makes the charts much clearer....
Snap. It's largely noise for low TFs. The RSIO, BB SQueeze is useful to us though...
  • #4,784
  • Mar 27, 2014 10:21am Mar 27, 2014 10:21am
Quoting Islander
GM - whilst waiting for my sell from 8:38 to either be confirmed by a drop to test today's DP or closed for +1, I updated my 4 hr chart......interesting to see that todays high so far is not only in the supply area ~1.6566, but also at the VWAP level..... {image}
I am curious, the TVI params (10,8,4) on the small side for H4 TF possibly...?
  • #4,785
  • Mar 27, 2014 11:56pm Mar 27, 2014 11:56pm
Quoting figgsey
{quote} I am curious, the TVI params (10,8,4) on the small side for H4 TF possibly...?

GM - as I only monitor the 4hr with naked charts, I would not know......feel free to post some charts with different options....
Trading Levels with WRBs
  • #4,786
  • Mar 28, 2014 2:35am Mar 28, 2014 2:35am
To be honest, I really only go up to the m15.

It shows the trend for me. Take the news impact yesterday (9.30). But I like your pitch fork..
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  • #4,787
  • Mar 28, 2014 5:09am Mar 28, 2014 5:09am
I have not be happy with the way any of the MTF stoch indicators show the higher TFs in real time on the 1m chrts. The best is the Ultra Stoch, but I find its jerkyness distracting, thus I did some research into other ways to achieve similar results to the Stoch-MTF in higher TFs, but without the problems of the live tails on those higher TFs, which do not fix until the relevent time period closes.

The result is shown on the chart, using the same indicator, but with the TF set to 1m and the other inputs as shown.

Its a pity I have been out for most of this morning and so missed the two 30+ pip swings that show up so clearly on this chart - another good day for EJ traders....
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Trading Levels with WRBs
  • #4,788
  • Mar 28, 2014 6:01am Mar 28, 2014 6:01am
Quoting Islander
I have not be happy with the way any of the MTF stoch indicators show the higher TFs in real time on the 1m chrts. The best is the Ultra Stoch, but I find its jerkyness distracting, thus I did some research into other ways to achieve similar results to the Stoch-MTF in higher TFs, but without the problems of the live tails on those higher TFs, which do not fix until the relevent time period closes. The result is shown on the chart, using the same indicator, but with the TF set to 1m and the other inputs as shown. Its a pity I have been out for most...
Funnily enough I was trying to solve that conundrum myself. Ultra stoch is great but is subjective. You could of course use an ordinary stoch indicator (standard MT4) and apply same settings (ie M1 but with same numbers you used there). It may be less onerous on PC/simpler and I am all for a simple life.

Results of my tests this morning suggest that the MTF Ultra stochastic is not as reliable an indicator as the MTF stoch under test. It seems to be more subjective This needs to be verified in live trading though. I have another screen (on my JFOREX platform set up just using standard Stoch but with M5 and M15 represented using larger multiples). This weeks PA is great for really weeding these issues out.

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Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #4,789
  • Mar 28, 2014 6:47am Mar 28, 2014 6:47am
Quoting Islander
I have not be happy with the way any of the MTF stoch indicators show the higher TFs in real time on the 1m chrts. The best is the Ultra Stoch, but I find its jerkyness distracting, thus I did some research into other ways to achieve similar results to the Stoch-MTF in higher TFs, but without the problems of the live tails on those higher TFs, which do not fix until the relevent time period closes. The result is shown on the chart, using the same indicator, but with the TF set to 1m and the other inputs as shown. Its a pity I have been out for most...
Hi Islander, thanks for your insights regarding your research.

A have a couple of qīs regarding your stoch findings:

Are you using the Stoch-MTF indicator?

I ask you this q because I am trying to replicate your stoch and could not match the shapes with the settings you provided. Any chance you could share a stoch only template? Thanks!

Regarding 125 EMA (25 EMA on M15 chart), how do you use it?

I mean, ie for a buy trade, do you only take trades when EMA is green, when price is above both EMAs, when 125 is below 25 but you have enough room for price to move, etc.

Thanks for your answer, and your help.

regards

g
  • #4,790
  • Mar 28, 2014 6:48am Mar 28, 2014 6:48am
Quoting Islander
Yesterday I posted this Trade Sheet in Rooi's thread and its already been downloaded 62 times. Now I am going to use this thread to show some of the specifics that I use to make up the eight items that are mentioned and that make up my trading rules. This is for information only, it is up to each individual trader to research and make up his / her own set of Trading Rules that best suite their own requirements. {file}
Thank you BTW
  • #4,791
  • Mar 28, 2014 6:51am Mar 28, 2014 6:51am
Quoting Islander
To continue with the lower indicator windows.....the upper of which has M15 and M5 Stoch-MTF indicators, both with OB / OS zones and the 50 level shown. The M15 stoch (1) is the more important. On this chart it remained in the OB (Buy Zone) until 12:30 when it turned down, exiting the Buy Zone six bars later when the M5 stoch (2) also started to cycle back down. Thus these two indicators can be used via their slopes, turns and levels to provide two or more inputs for our Trading Rules. The bottom window has William Blau's excellent Tick (Trade)...
William Blau's excellent Tick (Trade) Volume Index

I mean't to ask about you about this..

Where can I see it on the chart? Apologies for the daft question.

Do we have any further info capt?
  • #4,792
  • Mar 28, 2014 7:08am Mar 28, 2014 7:08am
Quoting figgsey
{quote} William Blau's excellent Tick (Trade) Volume Index I mean't to ask about you about this.. Where can I see it on the chart? Apologies for the daft question. Do we have any further info capt?
figgsey,

hope you donīt mind if I answer you this question. The Tick (Trade) Volume Index, TVI, is the second indicator window (blue and red histogram)

Hope this help

g
  • #4,793
  • Mar 28, 2014 7:45am Mar 28, 2014 7:45am
Quoting revoli
{quote} Funnily enough I was trying to solve that conundrum myself. Ultra stoch is great but is subjective. You could of course use an ordinary stoch indicator (standard MT4) and apply same settings (ie M1 but with same numbers you used there). It may be less onerous on PC/simpler and I am all for a simple life. Results of my tests this morning suggest that the MTF Ultra stochastic is not as reliable an indicator as the MTF stoch under test. It seems to be more subjective This needs to be verified in live trading though. I have another screen (on...

good to know that I'm not the only one looking at this problem
Trading Levels with WRBs
  • #4,794
  • Mar 28, 2014 7:53am Mar 28, 2014 7:53am
Quoting guibernaua
{quote} Hi Islander, thanks for your insights regarding your research. A have a couple of qīs regarding your stoch findings: Are you using the Stoch-MTF indicator? I ask you this q because I am trying to replicate your stoch and could not match the shapes with the settings you provided. Any chance you could share a stoch only template? Thanks! Regarding 125 EMA (25 EMA on M15 chart), how do you use it? I mean, ie for a buy trade, do you only take trades when EMA is green, when price is above both EMAs, when 125 is below 25 but you have enough room...
You're welcome - I find that posting some different ideas not only helps me, but new people come up with other suggestions too

I'll see IF I can get a template posted - they are always a problem and I might have to change to my other 'puter.

The 125EMA is one of the eight points that I noted in that trade sheet and thus I will often trade a half lot when it is "against" the 125.....say that might be a 6 or 7 out of 8 entry if you get what I mean.....
Trading Levels with WRBs
  • #4,795
  • Mar 28, 2014 7:55am Mar 28, 2014 7:55am
Quoting revoli
{quote} Funnily enough I was trying to solve that conundrum myself. Ultra stoch is great but is subjective. You could of course use an ordinary stoch indicator (standard MT4) and apply same settings (ie M1 but with same numbers you used there). It may be less onerous on PC/simpler and I am all for a simple life. Results of my tests this morning suggest that the MTF Ultra stochastic is not as reliable an indicator as the MTF stoch under test. It seems to be more subjective This needs to be verified in live trading...
Hi Revoli, it may interest you to know that I did a fair amount of testing on the Ultra stochs, both backwards and live forward and found that there were often discrepancies with some of the MTF's (sometimes substantial), but when I compared the ultra figures with actual 5 & 15 min charts with standard stochs (same settings) both sets of figures were always exactly the same.
I only mention it in case the accuracy of the live values (ie during the 5 or 15min etc periods) are important to you, in which case any comparison should be done against an original and actual tf like above.
I know what Islander means about the erratic appearance of the ultra stochs but I just set that against their accuracy and their benefit to trading decisions.
Hope you find something that suits you, all the best, strada.
  • #4,796
  • Mar 28, 2014 7:58am Mar 28, 2014 7:58am
Quoting guibernaua
{quote} figgsey, hope you donīt mind if I answer you this question. The Tick (Trade) Volume Index, TVI, is the second indicator window (blue and red histogram) Hope this help g
Not at all - hey Figgsey - just read that note on the chart.....click to enlarge......if that doesn't help, maybe a trip to SpecSavers....
Trading Levels with WRBs
  • #4,797
  • Mar 28, 2014 8:00am Mar 28, 2014 8:00am
Quoting strada
{quote} Hi Revoli, it may interest you to know that I did a fair amount of testing on the Ultra stochs, both backwards and live forward and found that there were often discrepancies with some of the MTF's (sometimes substantial), but when I compared the ultra figures with actual 5 & 15 min charts with standard stochs (same settings) both sets of figures were always exactly the same. I only mention it in case the accuracy of the live values (ie during the 5 or 15min etc periods) are important to you, in which case any comparison should be done against...

Hi Strada - welcome here and thanks for your post - any other input always appreciated

I too have noticed discrepancies, but put it down to using different brokers on each monitor....guess I didn't look close enough...

Best, Islander
Trading Levels with WRBs
  • #4,798
  • Mar 28, 2014 8:13am Mar 28, 2014 8:13am
Quoting strada
{quote} Hi Revoli, it may interest you to know that I did a fair amount of testing on the Ultra stochs, both backwards and live forward and found that there were often discrepancies with some of the MTF's (sometimes substantial), but when I compared the ultra figures with actual 5 & 15 min charts with standard stochs (same settings) both sets of figures were always exactly the same. I only mention it in case the accuracy of the live values (ie during the 5 or 15min etc periods) are important to you, in which case any comparison should be done against...
Dont get me wrong I think the ultra stuff is fantastic work and I have happily used the ultra stochs for a while. For quick decision making I am finding I need a simple visual impact, absolute accuracy not so important as the overall sense of what is happening. In fact being too accurate in the scalp game is probably a mistake as leads you to being whipped in markets such as this weeks. Thanks for the input.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #4,799
  • Mar 28, 2014 8:42am Mar 28, 2014 8:42am
Quoting revoli
{quote} Dont get me wrong I think the ultra stuff is fantastic work and I have happily used the ultra stochs for a while. For quick decision making I am finding I need a simple visual impact, absolute accuracy not so important as the overall sense of what is happening. In fact being too accurate in the scalp game is probably a mistake as leads you to being whipped in markets such as this weeks. Thanks for the input.
Hi Revoli, no probs, don't get me wrong either, I'm not a dyed in the wool "Ultraist" leaping into defense. Just thought my own experience with it may have been some help to you. Cheers, have a good weekend, strada.
  • #4,800
  • Mar 28, 2014 8:43am Mar 28, 2014 8:43am
/continued testing.......stoch setting may change.....WIP.....the 12:49 buy was an 8 / 8 entry
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Trading Levels with WRBs
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