three targets,
- #11,561
- Nov 4, 2014 8:15am Nov 4, 2014 8:15am
- Joined Mar 2012 | Status: Trader | 1,225 Posts
three targets,
- #11,564
- Nov 4, 2014 9:27am Nov 4, 2014 9:27am
{quote} Hi jackprobe, I have a bit of knowledge about matlab and octave, but not other software. I think my bodies are familiar to other software since gg53's fractal-zz way, so may be they can help you. The picture is just for illustration purpose, it has some bugs and so not precise probability. But r is very slow and I do not want to try again. Hope you can find good solution. thank you....
{image} three targets,
Similarity can change your life !
- #11,566
- Nov 4, 2014 10:38am Nov 4, 2014 10:38am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
Update: separate left zone and right zone for both even and uneven TZ.
I'm wondering if you can exclude the zones that I called "pierced zones", in the attached picture, and add stats (like in Firefox indy) or at least to have stats counting the only "not pierced zones"
It s a bit hard to explain my idea (english s not my 1st language) but I'll try:
0) The not pierced transient zones usually work like Support and Resistance (this is why I want to focus on them and to exclude the "pierced ones")
1) let s set the TZ indicator to a large amount of bars back (10000-20000) and with an H such that we get 3% of TZ in the past
2) It means that - as average - I had a TZ every 33 bars
3) Let assume that now I'm observing a new forming TZ ( H complete on left side) were the presumed central bar would happen after 60 bars (just to say a number much larger than the average) from the previous central bar of the former and completed TZ.
Under these conditions I hope I'll be entitled to think that this potential TZ will become effective (though I'm not able to calculate probability) and that price will be rejected from this forming TZ.
Well that's it...I hope you and/or the others brilliant coders in here will find that the idea deserves the effort of more coding....so thank you in advance and ,moreover, many thanks to EURUSDD and to the other senior members of this thread.
Franco
{quote} Hey Guys i am new here and i was wandering xixi if you can tell me how to use or trade with this indicator please.
This indicator is just one way to depict transient/recurrent concepts which Eurusdd represented.
How to use it to trade depends on your understanding of the concepts. Many people have applied their own way and get good results, ex: Eurusdd, FxJay,...
You can learn from them or create your own new way base on this.
Anyway you must study and it could take a lot of time and efforts...
{quote} Read First http://www.forexfactory.com/showthread.php?t=509195 ... then come back here. You have the choice of reading through the entire thread, or looking for Transient Zones. It is highly suggested you read the entire thread, note what interests you, then explore in detail and curate the information that relates to your area of interest. Good Luck!
{quote} okay so am I correct in saying it has the highest probability of returning to the H line within the next 30 bars after the break out since the level was h=30 transient left and right before it was broken?
Focus, Patience, Determination & Order in chaos
- #11,574
- Nov 4, 2014 11:25am Nov 4, 2014 11:25am
{quote} Thats correct. Looks like its coming down already
now time to see if we can get a follow through
Quick question about a previous TZ zone
as seen below in the pic we have a zone marked out. X marks where a candles tail pierced the zone and quickly retraced. Would this x beconsidered the trading area to take the recurrent trade? or would it be the o where price closed below the zone and didn't just pierce it.
and if x is the valid trading oppurtunity would that make O invalidated meaning the statistics wouldnt apply to that break because price had already visited below the TZ)
Or if x is the window of opportunity since it closed Above and not below the TZ do the same rules still apply just we are looking to trade short since price closed above TZ after piercing it?
sorry if this wording is confusing...
Thanks in advance!
Life's Good & Why Wouldn't It Be? Im a Pirate After All!
{quote} now time to see if we can get a follow through
Me personally, I would take the trade at X for a short from the top since its down trend. Going long at O could be riskier but according to TZ theory and my own interpretation (well one of 3 interpretations.. haha) I would take the trade. It all depends on the stats that you get based on which method/interpretation that you wish to trade. With all 3 of them, i was able to get greater than 90% probability with the correct settings. You seems to get the concept, if you don't know how to code, learn it or team up with someone who does to test different things out. Make sure its error free as well, its very easy to come up with 100% with errors/bugs in code.. haha I have done it a few times.
Without proper stats, I wouldn't touch this thing. It is not always what it seems unless you have the proper interpretation and stats to back it up.
Focus, Patience, Determination & Order in chaos
- #11,576
- Nov 4, 2014 11:40am Nov 4, 2014 11:40am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
{quote} now time to see if we can get a follow through
If viewed as an exit, you have some options.
#1 Short from Swing High
You could have taken the first failed retest swing high after the TZ was formed... even though h has not completed. You can treat it as if it was completed with the confidence that the TZ should hold with high probability. The target? The X
#2 Short on next swing high after X
Same idea but more conservative and with trend and after h completes. This makes sense... and you can have two targets, the first one at X or O or the bottom zone.
Having said this, if a stop was taken on this trade targeting the second zone it may have been stopped out depending on tightness... but again, if you were to mechanise it, you could filter some more.
#3 Long on O
And the target would be any area above the zone given this is now an established recurrent area.
#4 Short After O
This can be done on any break of trendline or pin bar with target back past Zone 1 or start of Zone 2.
The above suggestions isn't done with an entry in mind, but an exit given that an h period has just expired.
The last two swing bottoms are interesting... maybe refresh the chart and see what the Indi is saying.... if a PTZ forms, I would be looking for longs and exit of the TZ up top as exit. It won't matter what the Long set up is but the target is the one that hasn't been taken out yet.
A pip is only worth it if you know how much you risked to earn it
{quote} do you have any recommendations on any books or threads here on FF could help me learn mt4 coding? I have absouluetly no experience in this field except that I have coded very basic HTML websites and 1 or 2 simple java scripts. {quote} thank you very much vlady I see what are you saying by looking at them as targets instead of entries. Thank you for your input and all your contributions to thread! i think I am finally wrapping my brain around this stuff...
I would start here. Go through all of these first:
http://book.mql4.com/basics/index
Then do some examples from here as you read through:
http://articles.mql4.com/404
Then use this as the guide/reference to look up all the functions built into MT4:
http://docs.mql4.com/
I visit this often since I forget sometimes the name of functions that I need to use.
Then I would start to look into indicators made by users. To start off, you can begin by editing an indicator that does something a bit similar to what you may need/use and then extend it. Start it small and add complexity as you get comfortable. Have fun!
Focus, Patience, Determination & Order in chaos
