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Trend Line Price Action with MACD strategy

  • #361
  • May 16, 2014 9:37am May 16, 2014 9:37am
afolabiay great thread, just found few days ago. I must admit I've always felt that trace TL is subjective, but now your work clarified the concept, congratulations.
I bring only a cosmetic/visual change if you donīt mind.

source: here
Attached Image (click to enlarge)
Click to Enlarge Name: onchartmacd.png Size: 41 KB
Humble & Kalcker CLO2 = Covid killer
  • #362
  • May 17, 2014 6:15pm May 17, 2014 6:15pm
Quoting nabeelryk
should I sell this usdjpy on H4 candle is almost close below trend line. {image}
let it close first and you don't need to number or label the trend line it is just for people to understand the concept and i see you got it right
  • #363
  • May 18, 2014 6:34am May 18, 2014 6:34am
Quoting jusiur
afolabiay great thread, just found few days ago. I must admit I've always felt that trace TL is subjective, but now your work clarified the concept, congratulations. I bring only a cosmetic/visual change if you donīt mind. source: here {image}
thanks
  • #364
  • Jun 6, 2014 11:47am Jun 6, 2014 11:47am
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  • #365
  • Jun 16, 2014 10:40pm Jun 16, 2014 10:40pm
Hello, these is my first post, nice strategy i like it, one question, first you do this strategy on 1 day and then you do the same on 4hr and enter on 15 min??? thanks
  • #366
  • Aug 16, 2014 9:18am Aug 16, 2014 9:18am
hey guys, i have never posted anything before until i found this thread. Ive been trading with trendline with some success and failures as well but i think this will help me more in deciding highs and lows, thanks afolabiay!
  • #367
  • Sep 16, 2014 4:05am Sep 16, 2014 4:05am
Hello! Very interesting thread, i love to trade by technical analysis, with trend lines, levels, triangles and so on. So i find it very interesting. One thing i want to understand in this strategy - what exactly rules of drawing trend lines with help of MACD? I see trend lines here on the thread on the charts, but i can't understand how MACD exactly helps in drawing them? Thank you!
  • #368
  • Oct 8, 2014 2:37pm Oct 8, 2014 2:37pm
Hi Afo,
Let me ask u one thing, before we draw trend line, how long we should look back previous trend line, 30 minutes, 60, 1 hr, 4 hr for gold spot. I am very beginner. Please answer me very detail about the following discussions.


Quoting afolabiay
{quote} The steps are: 1. look for recent low and high on Macd that are visible to the eye not a small tiny that is hard to see but a round one that is well visible to the eyes 2. draw a trend joining the high's and the low's, i use 2 recent low's and high's and low for the break out or bounce. 3. make sure that recent low or high as been made by looking at the MACD if crossed to the other side (either high or low). as you can see in the picture below i will label all you need to understand there. {image}
  • #369
  • Nov 8, 2014 2:07pm Nov 8, 2014 2:07pm
Quoting Naing
Hi Afo, Let me ask u one thing, before we draw trend line, how long we should look back previous trend line, 30 minutes, 60, 1 hr, 4 hr for gold spot. I am very beginner. Please answer me very detail about the following discussions. {quote}
i recommend 4H sometimes 1H is tradeable
  • #370
  • Nov 8, 2014 2:35pm Nov 8, 2014 2:35pm
Quoting fxal19
Hello, these is my first post, nice strategy i like it, one question, first you do this strategy on 1 day and then you do the same on 4hr and enter on 15 min??? thanks
yes
  • #371
  • Nov 8, 2014 2:36pm Nov 8, 2014 2:36pm
Quoting mnt202
hey guys, i have never posted anything before until i found this thread. Ive been trading with trendline with some success and failures as well but i think this will help me more in deciding highs and lows, thanks afolabiay!
you are welcome
  • #372
  • Nov 8, 2014 2:37pm Nov 8, 2014 2:37pm
Quoting toledoFX
Hello! Very interesting thread, i love to trade by technical analysis, with trend lines, levels, triangles and so on. So i find it very interesting. One thing i want to understand in this strategy - what exactly rules of drawing trend lines with help of MACD? I see trend lines here on the thread on the charts, but i can't understand how MACD exactly helps in drawing them? Thank you!
May be you should start reading the thread from the first post and tell me what you don't understand
  • #373
  • Dec 4, 2014 10:02am Dec 4, 2014 10:02am
I have read through this thread many times and can't find anywhere that says anything about exit point. Back in the beginning of the thread there is mention of stop loss movement to BE after 50 pips but no mention of when to exit. What do you base exit on?
  • #374
  • Edited 10:34pm Jan 21, 2015 10:10pm | Edited 10:34pm
Hi
I'm new to this tread. Great thread and method, afolabiay.

I've been writing some trend line code for a few months & posted it on http://www.forexfactory.com/showthre...163012&page=19.

Now I've been studying this MACD trendline method and it's looking good.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2015-01-22 11.03.44.png Size: 42 KB


EURJPY H1 bars - bar just begun at time of screenshot.
I know this looks crazy busy! I've just thrown a few indicators that I like together to see if they are a good combination. I've included them below. Only the 3rd Wave Algorithm is mine.

3rd Wave Algorithm (all the blue and and red diagonal lines. The number 3 in circles is the 3rd touch on the trend line and is a good place for a bounce trade [They only appear after the close of the following bar - so not as amazing as they look!] The arrows are a breakout. Gold arrow has not closed yet, so its not confirmed as a breakout). The algorithm settings are on for EMA 7-12 trendlines breakouts. It can do traditional trendlines too.

Attached File(s)
File Type: txt 3rd Wave Algorithm 4.87 - description.txt   7 KB | 386 downloads
Attached File(s)
File Type: ex4 3rd Wave Algorithm 4.87.ex4   62 KB | 403 downloads


Mouteki (Orange triangle & red/green horizontal lines & price targets. Always draws a current triangle. Changes as bars change). I haven't researched this one yet. But looks good as another form of confirmation.

Attached File(s)
File Type: mq4 Mouteki.mq4   20 KB | 480 downloads


Wide Range Body Hidden Gap Indicator (Blue rectangles) Shows where there will be price resistance to a breakout based on long bars that have not seen any retracement. I'm expecting price to consolidate or bounce within the large blue area. (Coded by Akif)

Attached File(s)
File Type: mq4 WRB-Hidden-Gap.mq4   12 KB | 419 downloads


MACD Trend lines (Manually drawn pink lines). Drawn for several time frames using the MACD method with 26,12,9. (I like the idea of coding this an an indicator & displaying multiple time frames, though don't have time to do this. I end up spending all my time coding & not trading! Can anyone help me with an EA that we can feed indicator signals into?).



If you use the 3rd Wave Algorithm for traditional trendlines you'll need to turn on TraditionalHighLow (at top) and turn off MultipleTLConfirm (near the bottom of the list of settings). The other settings (e.g. TouchTolApex2, EarlyBreakoutBars) are liberal and can be adjusted. I have liberal settings and then have the MultipleTLConfirm setting on. This algorithm is still a work in progress.


  • #375
  • Edited Jan 22, 2015 1:18am Jan 21, 2015 10:45pm | Edited Jan 22, 2015 1:18am
Note: 3rd Wave Algorithm - removed annoying test lines (in purple showing indexbuffer2). They are not designed to be in a final version. They appear on the bars where there are multiple breakouts (added MultiTesting=false to turn off)
Attached File(s)
File Type: ex4 3rd Wave Algorithm 4.87.ex4   62 KB | 360 downloads
  • #376
  • Jan 23, 2015 7:41am Jan 23, 2015 7:41am
Quoting jusiur
afolabiay great thread, just found few days ago. I must admit I've always felt that trace TL is subjective, but now your work clarified the concept, congratulations. I bring only a cosmetic/visual change if you donīt mind. source: here {image}
I really like this Jusiur. I particularly like the fact that there is no need for a second window. Thanks.
  • #377
  • Jan 23, 2015 9:13pm Jan 23, 2015 9:13pm
On 4H EURJPY chart a price bounced off the 1H MACD trendline, multiple 3rd Wave Algorithm TLs and the blue rectangle WRB-Hidden Gap.
The Mouteke indicator wasn't any addition help.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2015-01-24 11.03.53.png Size: 42 KB
  • #378
  • Mar 22, 2015 5:17pm Mar 22, 2015 5:17pm
hi PaulT7

lov your Ideas

do you have a current V ?

I would love to try it out ..Thankx
Learn THEN Unlearn
  • #379
  • Mar 22, 2015 7:18pm Mar 22, 2015 7:18pm
Quoting HighFivve
hi PaulT7 lov your Ideas do you have a current V ? I would love to try it out ..Thankx
Hi HighFivve. Here is my latest version. I hope you find it useful.

My energies are focused elsewhere at the moment, however I will come back to this to do some more work on it.

In this version I've changed the default settings to show the 3rd bounce off the trendline (rather than breakouts) and this was looking like the most fruitful way forward for me combined with other forms of confirmation. (for basic settings see previous post).

One known problem with live data: The code looses track of where the trendlines are that need updating after a breakout. Trendlines start disappearing off the screen! So the indicator needs manual resetting. (When I fix this there will also be an increase in recalculation speed with each bar).

Future enhancements: add other forms of averages to draw trendlines on.

If you find a good way of filtering the signals, let me know. My philosophy has been to first generate lots of signals and then develop ways of filtering these.

Special Note: DisplayActiveTLOnly=true is good for trading, however it is like a repaint when looking at historic data, as it doesn't show the pattern failures.
Also the bounce signal displays on the reversal bar once the next bar closes.
Attached File(s)
File Type: ex4 3rd Wave Algorithm 4.88.ex4   64 KB | 417 downloads
File Type: txt 3rd Wave Algorithm 4.88 - description.txt   7 KB | 461 downloads
  • #380
  • Mar 23, 2015 9:10am Mar 23, 2015 9:10am
thanks man .....will give her a spin
Learn THEN Unlearn
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