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Nihilist Forex Indicators

  • #5,261
  • Nov 11, 2014 12:53pm Nov 11, 2014 12:53pm
Quoting stevepatt
{quote} Hi Helee, They show the Weekly and Monthly Candle so I can see how the Weekly and Monthly Candles are forming. {file}
Hummm,

Very clever, thanks
  • #5,262
  • Nov 11, 2014 1:23pm Nov 11, 2014 1:23pm
Quoting stevepatt
GBP/USD W1/D1 USD is still Bullish, across most pairs, even after Fridays worse than expected NFP result. This trade is in line with the Weekly trend and is coming off Resistance and RN. {image}

GBP/USD W1/D1

Losing trade, looks like I should have been trading JPY pairs.

No matter what you do we are all going to get losing trades.

It's important to be trading at a level we are comfortable with.

If taking one losing trade hurts imagine what taking a series of 5 or 6 losers in a row would be like.

Everyone needs to be aware of losing runs and the random distribution of winning and losing trades.

This is a good article about this and a good site for picking up a lot of "free" information

http://www.learntotradethemarket.com...ed-to-know-now
Attached Image (click to enlarge)
Click to Enlarge Name: 11th Nov 14 GBP:USD W1:D1 Chart.png Size: 145 KB
  • #5,263
  • Nov 11, 2014 1:30pm Nov 11, 2014 1:30pm
Quoting stevepatt
{quote} Hi Helee, They show the Weekly and Monthly Candle so I can see how the Weekly and Monthly Candles are forming. {file}
sorry for the trouble. But i am unable to set weekly and monthly candle. what parameter to use. it says invalid time frame.

Thanks
  • #5,264
  • Nov 11, 2014 1:41pm Nov 11, 2014 1:41pm
[quote=Xbd14;7863249]{quote} sorry for the trouble. But i am unable to set weekly and monthly candle. what parameter to use. it says invalid time frame. Thanks[/quote

Hi Xbd,

TimeFrame Weekly = 10080

TimeFrame Monthly = 43200
  • #5,265
  • Nov 11, 2014 1:51pm Nov 11, 2014 1:51pm
[quote=stevepatt;7863267]
Quoting Xbd14
{quote} sorry for the trouble. But i am unable to set weekly and monthly candle. what parameter to use. it says invalid time frame. Thanks[/quote Hi Xbd, TimeFrame Weekly = 10080 TimeFrame Monthly = 43200
Thanks a lot. Got it. You are very helpful.
  • #5,266
  • Nov 11, 2014 3:56pm Nov 11, 2014 3:56pm
Weekly resistance 1 was hit . Took a short 2 minutes ago . Gonna let it run . If i see is a PB of the weekly trend then i will close it as soon as nihilist indi's show me that it is really a PB . SL 145.00
Make choices and don't look back !
  • #5,267
  • Nov 11, 2014 4:05pm Nov 11, 2014 4:05pm
Quoting Purec
Weekly resistance 1 was hit . Took a short 2 minutes ago . Gonna let it run . If i see is a PB of the weekly trend then i will close it as soon as nihilist indi's show me that it is really a PB . SL 145.00

Hi purec,

Which pair are you talking about? And can you post an image please.
  • #5,268
  • Nov 11, 2014 4:10pm Nov 11, 2014 4:10pm
Quoting stevepatt
{quote} Hi purec, Which pair are you talking about? And can you post an image please.
Sorry . My bad

Pair is E/J
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 76 KB
Make choices and don't look back !
  • #5,269
  • Nov 11, 2014 4:22pm Nov 11, 2014 4:22pm
Quoting Purec
{quote} Sorry . My bad Pair is E/J {image}
Personally a short here is extremely bad trade and is NOT justifiable. Japanese PM is set to dissolve the Gov't. You're swimming upstream against the tide. Picking tops and bottoms is not a good trading strategy IMO. Resistance/Support is there to be broken or use to trade WITH the prevailing trend when you receive confirmation. You're also NOT trading nihilist system.


Cheers
  • #5,270
  • Nov 11, 2014 4:33pm Nov 11, 2014 4:33pm
Quoting Purec
{quote} Sorry . My bad Pair is E/J {image}

Hi Purec,

Be careful with jumping into a Short trade here just because the market is nearing Weekly Resistance.

We need to see the Market Reverse and, at least, break the Daily MRAL before considering looking for PA to go Short.

Support/Resistance is used to look for PA to take trades in the direction of the prevailing Higher Time Frame Trend.
Attached Image (click to enlarge)
Click to Enlarge Name: 11th Nov 14 EUR:JPY W1:D1 Chart.png Size: 185 KB
  • #5,271
  • Nov 11, 2014 5:38pm Nov 11, 2014 5:38pm
Quoting stevepatt
{quote} Hi Helee, They show the Weekly and Monthly Candle so I can see how the Weekly and Monthly Candles are forming. {file}
Thank you stevepatt, you are sharing a lot of great stuff in this thread.
Per aspera ad astra
  • #5,272
  • Nov 11, 2014 6:06pm Nov 11, 2014 6:06pm
Quoting Xbd14
{quote} sorry for the trouble. But i am unable to set weekly and monthly candle. what parameter to use. it says invalid time frame. Thanks
Parameters for AnyCandle indicator :

H1 candle
Timeframe = 60
TimeShift = 0
DisplayOffset = 10
Alarm_On = true

H4 candle
Timeframe = 240
TimeShift = 0
DisplayOffset = 13
Alarm_On = true

D candle (current session)
Timeframe = 1440
TimeShift = 0
DisplayOffset = 16
Alarm_On = true

Hope you help !

Otherwise you can use this indicator too
Attached File(s)
File Type: mq4 Trend indicator.mq4   13 KB | 807 downloads
  • #5,273
  • Nov 12, 2014 1:21am Nov 12, 2014 1:21am
Quoting cchersia
{quote} Parameters for AnyCandle indicator : H1 candle Timeframe = 60 TimeShift = 0 DisplayOffset = 10 Alarm_On = true H4 candle Timeframe = 240 TimeShift = 0 DisplayOffset = 13 Alarm_On = true D candle (current session) Timeframe = 1440 TimeShift = 0 DisplayOffset = 16 Alarm_On = true Hope you help ! Otherwise you can use this indicator too {file}
Thanks cchersia

Happy Pipin
  • #5,274
  • Nov 12, 2014 1:30am Nov 12, 2014 1:30am
If you are more comfortable working with indicators this approach can still work.

Look at a TF one or two above your Trigger TF to find the Prevailing Trend.

Then only look to take trades in the Direction of the Higher TF on your Trigger TF.
Attached Image (click to enlarge)
Click to Enlarge Name: 12th Nov 14 USD:CHF W1:D1 Chart.png Size: 156 KB
  • #5,275
  • Nov 12, 2014 1:48am Nov 12, 2014 1:48am
Quoting stevepatt
{quote} Hi Purec, Be careful with jumping into a Short trade here just because the market is nearing Weekly Resistance. We need to see the Market Reverse and, at least, break the Daily MRAL before considering looking for PA to go Short. Support/Resistance is used to look for PA to take trades in the direction of the prevailing Higher Time Frame Trend. {image}
When you wrote this post I put TP at 144.44 and my position was at 144,46 . First when i took it i put tp at 143,96 ( 50 pips ) . Then you scared me

You warned me . Good that it took my way and not the either way ^^ Looking to go long with the prevailing trend
Make choices and don't look back !
  • #5,276
  • Nov 12, 2014 2:01am Nov 12, 2014 2:01am
Quoting Purec
{quote} When you wrote this post I put TP at 144.44 and my position was at 144,46 . First when i took it i put tp at 143,96 ( 50 pips ) . Then you scared me You warned me . Good that it took my way and not the either way ^^ Looking to go long with the prevailing trend

Hi Purec,

Quite often after a big move, like yesterday, there can be an immediate reaction in the opposite direction.

But there is no way of knowing this for sure though, so it's better to stay away and wait for a Pullback and wait for PA at Support/Resistance to take a trade with the prevailing trend.
  • #5,277
  • Nov 12, 2014 2:54am Nov 12, 2014 2:54am
Quoting stevepatt
{quote} Hi Purec, Quite often after a big move, like yesterday, there can be an immediate reaction in the opposite direction. But there is no way of knowing this for sure though, so it's better to stay away and wait for a Pullback and wait for PA at Support/Resistance to take a trade with the prevailing trend.
Very sound advice. Never try and pick tops and bottoms.
  • #5,278
  • Edited 5:01am Nov 12, 2014 4:40am | Edited 5:01am
A lot of what I'm showing here I've learnt from different threads, on FF, it's only by discovering the information out there that you can work out the type of trader you want to be.

It's important to find the type of trader you are and what you feel comfortable trading.

Day Trader - Scalper - Swing Trader - Position Trader etc.

By a process of elimination I've discovered that I prefer trading Price Action, using as few indicators as possible, on the Higher TFs.

By knowing this I can eliminate any thread that's not concentrating on what I'm interested in.

It's important to do this other wise you can be like a kid in a sweet shop jumping from one thing to another.

Two threads that I've learnt a lot from, are two commercial threads, Strat's Long Term Stress Free Trading - http://www.forexfactory.com/showthread.php?t=155459

Simple, Powerful and Effective Price Action Trading Strategies - http://www.forexfactory.com/showthread.php?t=437427

And this site where there is a lot of very good "free" information -
http://www.learntotradethemarket.com...79IaAj1J8P8HAQ

I've got nothing to do with them commercially and don't pay for, any of, their paid content but there's a wealth of "free" information available for anyone prepared to look for it.

The threads and website I've highlighted are not going to be any good, at all, if you want to be a Scalper or trade the M5 or M15 TF that's what you've got to find out for yourself and you can only do that by looking.

I know Strat comes in for some stick because he's a commercial member, some of which he does bring on himself, but I've always found him to be very helpful.

The image below is my favourite Trading Image it shows exactly what I'm trying to do.

Pullbacks in the Primary (Weekly) Trend that are then Traded on the (Daily) Intermediate Time Frame
Attached Image
  • #5,279
  • Nov 12, 2014 4:55am Nov 12, 2014 4:55am
Quoting stevepatt
A lot of what I'm showing here I've learnt from different threads, on FF, it's only by discovering the information out there that you can work out the type of trader you want to be. It's important to find the type of trader you are and what you feel comfortable trading. Day Trader - Scalper - Swing Trader - Position Trader etc. By a process of elimination I've discovered that I prefer trading Price Action, using as few indicators as possible, on the Higher TFs. By knowing this I can eliminate any thread that's not concentrating on what I'm interested...
Steve you deserve a clap!! This tread is my new book! Cant put it down, so to speak!!
  • #5,280
  • Nov 12, 2014 6:44am Nov 12, 2014 6:44am
Quoting stevepatt
{quote} Hi mara, It's no good making predictions without something to back it up. It's going to take big shift in market dynamics to turn this pair, or any JPY pair, bearish. This pair might well be showing "over bought" on every "over bought" indicator ever developed. There is no "over bought", only the market can decide when it's had enough and the JPY becomes too cheap to sell. {image}

Dear stevepatt I told you 16 H ago time is changet GBP/JPY short
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