Hello traders,
any one have yesterday's DAY OPEN CLOSE HIGH LOW , horizonal line indicator, please post here
any one have yesterday's DAY OPEN CLOSE HIGH LOW , horizonal line indicator, please post here
Here is V2 of my TZBarAnalysis indicator for NT7 (NinjaTrader). This is the one that produces the TZ sequence stats I posted earlier. It also draws the TZs on the chart, and marks the heights in pips as well as bars that contain right-only-transient prices.
As I mentioned, it's written in C# (actually NinjaScript), so it will need to be modified to run on MetaTrader. There are comments in the code to help this. If you have any questions, please let me know. Also please feel free to change it in any way you like.
Have fun
As I mentioned, it's written in C# (actually NinjaScript), so it will need to be modified to run on MetaTrader. There are comments in the code to help this. If you have any questions, please let me know. Also please feel free to change it in any way you like.
Have fun
You reap what you sow.
- #506
- Nov 19, 2014 5:29am Nov 19, 2014 5:29am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
Hello everyone! Can you tell me what I am doing wrong? I started drawing potential TZ zones since monday on H1 EUR/USD, and only one is go going to develop in real TZ. Four of them weren't transient... What am I missing there? {image}
I did this very quickly so excuse the clutter. It's great you are doing it manually to practice. It will increase your understanding of the mechanics.
You drew the first UTZ incorrectly. you need to reduce the focus bar's area by any adjacent bars that violate the area. This forms an Uneven TZ or a signal for trade.
The trigger will be a style of trade that you are comfortable with. For example, a breakout strategy. Short when x = breakout level - 5, SL at swing top as an example trade plan. The target could be a previous TZ.
This same idea is implemented on the next UTZ and my personal style is to not wait for the confirmation of H... ie the width or x-axis value but to see if price action bounced off the UTZ. Entry trigger can now be whatever works for you.... retrace, breakout. You need to experiment with this to know what works. Also, don't forget to take into account the SPREAD! I find getting to lower timeframes just doesn't give me enough room for my spread sometimes.... so the Low may be great but the Long Price is like above the candle top... so pick the appropriate timeframe for your trade execution!
In the above, "targets" represent targets for the Long as scalps.... or another way is Breakout of the Zones.... if a Zone is cleared, the zone is invalidated or made recurrent. So price can revisit it... perhaps not straight away, but it then acts as a level that you can enter or exit from. For a breakout, you could have done it early off the UTZ or... waited until the targets were cleared and then go long if price "bounces" off the cleared zones. The confidence is in knowing that the UTZ Long has a Target of the previous UTZ high.
Edit:
BTW... I don't know what your H value is so I don't know how far right to keep that top UTZ.
A pip is only worth it if you know how much you risked to earn it
Here is V2 of my TZBarAnalysis indicator for NT7 (NinjaTrader). This is the one that produces the TZ sequence stats I posted earlier. It also draws the TZs on the chart, and marks the heights in pips as well as bars that contain right-only-transient prices. As I mentioned, it's written in C# (actually NinjaScript), so it will need to be modified to run on MetaTrader. There are comments in the code to help this. If you have any questions, please let me know. Also please feel free to change it in any way you like. Have fun
Nice tool
Not about how much you win, but how much you loose
Here is V2 of my TZBarAnalysis indicator for NT7 (NinjaTrader). This is the one that produces the TZ sequence stats I posted earlier. It also draws the TZs on the chart, and marks the heights in pips as well as bars that contain right-only-transient prices. As I mentioned, it's written in C# (actually NinjaScript), so it will need to be modified to run on MetaTrader. There are comments in the code to help this. If you have any questions, please let me know. Also please feel free to change it in any way you like. Have fun
Not about how much you win, but how much you loose
- #509
- Nov 19, 2014 10:34am Nov 19, 2014 10:34am
- 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
- #510
- Nov 19, 2014 10:38am Nov 19, 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
- #511
- Nov 19, 2014 10:39am Nov 19, 2014 10:39am
- | Membership Revoked | Joined May 2012 | 1,218 Posts
My current open trades. I will post the statement since starting this test of TZ and SS tonight. {image}
Your chart look like 'Christmas Tree' of profit...lol 
MTH
- #512
- Nov 19, 2014 10:42am Nov 19, 2014 10:42am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
{quote}
Even though this is demo, the platform is my Live Broker so it's very parallel to what my strategy is for early next year. I have now traded 3 times today. I recall being in every hour! So in short, your indis has made "her" easier to talk to
She is the BOMB! LOLP.S.
Give me a good picture to end my day here in London!
A pip is only worth it if you know how much you risked to earn it
- #513
- Edited 10:53am Nov 19, 2014 10:42am | Edited 10:53am
- | Additional Username | Joined Sep 2014 | 27 Posts
Here is V2 of my TZBarAnalysis indicator for NT7 (NinjaTrader). This is the one that produces the TZ sequence stats I posted earlier. It also draws the TZs on the chart, and marks the heights in pips as well as bars that contain right-only-transient prices. As I mentioned, it's written in C# (actually NinjaScript), so it will need to be modified to run on MetaTrader. There are comments in the code to help this. If you have any questions, please let me know. Also please feel free to change it in any way you like. Have fun
{quote} We need this for mt4. Any takers?
- #514
- Nov 19, 2014 10:46am Nov 19, 2014 10:46am
- | Membership Revoked | Joined May 2012 | 1,218 Posts
{quote} My friend, your work has actually allowed for some of my time to be freed-up. Even though this is demo, the platform is my Live Broker so it's very parallel to what my strategy is for early next year. I have now traded 3 times today. I recall being in every hour! So in short, your indis has made "her" easier to talk to
- #516
- Nov 19, 2014 10:52am Nov 19, 2014 10:52am
- 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
- #517
- Nov 19, 2014 11:01am Nov 19, 2014 11:01am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
{quote} {image}
A pip is only worth it if you know how much you risked to earn it
- #518
- Nov 19, 2014 11:12am Nov 19, 2014 11:12am
- 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
{quote} The things to research on the AUDJPY will be whether the carry trade from YEN to Aussie stocks is still worthwhile. Right now, with deflation the hot topic, NIKKEI has been rising... so I can take a stab that this is reflected in the EURAUD rise at the moment correlating to EURJPY.... and the loser is AUDJPY. Just doing a quick sneak peak at the KiwiYen and it looks a lot better to me. Pending Longs placed. In this sense, I don't mind the drawdown going south, but the target is the top TZ. {image}
- #520
- Nov 19, 2014 11:33am Nov 19, 2014 11:33am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
{quote} Thanks mate. AUDJPY has a strong zone around 99.3 - 99.8 @H1. For long term, it is my target. When? do not know ......
A pip is only worth it if you know how much you risked to earn it