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As simple as possible: 00 level trading

  • #27,121
  • Mar 5, 2015 8:36pm Mar 5, 2015 8:36pm
Thanks SwingMan for the TMA based indis.

Can these be back tested accurately with Udine's M15 method ?
  • #27,122
  • Mar 6, 2015 2:08am Mar 6, 2015 2:08am
Quoting pgpb
...Question, in the indicator "smSlopesStrengthUser" what is the meaning of the arrows beside the numbers, and the little red dot beside numbers.
- The arrows are for the trend direction

- The dots beside numbers show that the numbers for the lower timeframe are >0.40 (green) or <-0.40 (red)
You can test this with two timeframes each other (H1 and M15 for example).

Here's what I did a correction, because in the original indicator was an error.
  • #27,123
  • Mar 6, 2015 2:11am Mar 6, 2015 2:11am
Quoting SwingMan
{quote} I have modified the Slope Strength indicator, thus easier to choose the time frames (smSlopeStrengthUserTF). One problem I see in the calculation of the slope with the Tma (a smoothed moving average with period 21). I'm posting an indicator which calculates only the internal built-Tma (smFXStrength Tma) and one can see that in many cases the slope dont converge with the price action. Also an other Tma-indicator from web (Tma-Web). But, there are other better algorithms for the calculation of slopes... {file} {file} {file}
Thank you SwingMan! That is an elegant and welcome improvement to the timeframe selection!

What better algorithms for slope calculations did you have in mind?
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #27,124
  • Mar 6, 2015 2:12am Mar 6, 2015 2:12am
Quoting cycle
...for the TMA based indis. Can these be back tested accurately with Udine's M15 method ?
No, because in backtest you can not calculate more than one currency pair.
  • #27,125
  • Mar 6, 2015 2:17am Mar 6, 2015 2:17am
Quoting SwingMan
{quote} - The arrows are for the trend direction - The dots beside numbers show that the numbers for the lower timeframe are >0.40 (green) or <-0.40 (red) You can test this with two timeframes each other (H1 and M15 for example). Here's what I did a correction, because in the original indicator was an error.
Regarding the arrows is the following a correct interpretation:

up arrow equals strong uptrend
up arrow at 45 degrees equals weak uptrend
right arrow equals a neutral or zero slope
down arrow at 45 degrees equals weak downtrend
down arrow equals strong downtrend
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #27,126
  • Mar 6, 2015 2:42am Mar 6, 2015 2:42am
Quoting SwingMan
{quote} I have modified the Slope Strength indicator, thus easier to choose the time frames (smSlopeStrengthUserTF). One problem I see in the calculation of the slope with the Tma (a smoothed moving average with period 21). I'm posting an indicator which calculates only the internal built-Tma (smFXStrength Tma) and one can see that in many cases the slope dont converge with the price action. Also an other Tma-indicator from web (Tma-Web). But, there are other better algorithms for the calculation of slopes... {file} {file} {file}
Thank you very much SwingMan. Much appreciated!
  • #27,127
  • Mar 6, 2015 3:14am Mar 6, 2015 3:14am
Thank you diallist and SwingMang!
I really appreciate your answers!

SP.
  • #27,128
  • Mar 6, 2015 3:35am Mar 6, 2015 3:35am
Quoting SwingMan
{quote} I have modified the Slope Strength indicator, thus easier to choose the time frames (smSlopeStrengthUserTF). One problem I see in the calculation of the slope with the Tma (a smoothed moving average with period 21). I'm posting an indicator which calculates only the internal built-Tma (smFXStrength Tma) and one can see that in many cases the slope dont converge with the price action. Also an other Tma-indicator from web (Tma-Web). But, there are other better algorithms for the calculation of strengths... {file} {file} {file}
Many thanks Herr SwingMan !
Will play around with these to see what gives.

I am already using your Trix as an early warning indicator for Udine´s system, it performs quite well ;-)

LuXing
Wisdom begins in wonder
  • #27,129
  • Mar 6, 2015 3:41am Mar 6, 2015 3:41am
Quoting diallist
...What better algorithms for slope calculations did you have in mind?
My fault (I wanted to write strength, not slope), and I have edited the posting.

For the calculation of the strength, there are several variants:

- Hanover has an indicator posted, and the same calculation is also in the "ForexProfitSupreme Meter"
- There is the calculation with two short moving averages (3 and 5)
- There is the calculation by Henry Liu in his CurrencyStrengthMeter
- There is the calculation in TradeStation (see link of nasap http://www.tradestation.com/educatio...strength-score)
  • #27,130
  • Mar 6, 2015 4:15am Mar 6, 2015 4:15am
I just changed MTF Ash timeframe to 30 mins from 60 mins.... Several screenshots just from EUR right after London Open, with potential pips available.

One may check other Udine's pairs... :nerd:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR1.png Size: 53 KB
Click to Enlarge Name: EUR2.png Size: 53 KB
Click to Enlarge Name: EUR3.png Size: 47 KB
Click to Enlarge Name: EUR4.png Size: 47 KB
  • #27,131
  • Mar 6, 2015 4:16am Mar 6, 2015 4:16am
Quoting SwingMan
{quote} My fault (I wanted to write strength, not slope), and I have edited the posting. For the calculation of the strength, there are several variants: - Hanover has an indicator posted, and the same calculation is also in the "ForexProfitSupreme Meter" - There is the calculation with two short moving averages (3 and 5) - There is the calculation by Henry Liu in his CurrencyStrengthMeter - There is the calculation in TradeStation (see link of nasap http://www.tradestation.com/educatio...strength-score)...
Thank you for the detailed and useful answer!
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #27,132
  • Mar 6, 2015 4:27am Mar 6, 2015 4:27am
Quoting snail69
I just changed MTF Ash timeframe to 30 mins from 60 mins.... Several screenshots just from EUR right after London Open, with potential pips available. One may check other Udine's pairs... :nerd: {image} {image} {image} {image}
Was just looking at EJ with that MTF Ash at 30..... looks really good too

Asmodai
  • #27,133
  • Mar 6, 2015 4:52am Mar 6, 2015 4:52am
Quoting LuXing
...Will play around with these to see what gives.
Because the 00-levels system trades the M15 until H1 time frames, I think that the "best" time frame for the "SlopeStrength" = Tma-Slope indicator is M5 (with lower TF M1).

In this case you have a "local" slope of this moving average, and you calculate a "local" currency strength. All time frames greather as the trading TF have no significance.
  • #27,134
  • Mar 6, 2015 4:59am Mar 6, 2015 4:59am
Quoting SwingMan
{quote} My fault (I wanted to write strength, not slope), and I have edited the posting. For the calculation of the strength, there are several variants: - Hanover has an indicator posted, and the same calculation is also in the "ForexProfitSupreme Meter" - There is the calculation with two short moving averages (3 and 5) - There is the calculation by Henry Liu in his CurrencyStrengthMeter - There is the calculation in TradeStation (see link of nasap http://www.tradestation.com/educatio...strength-score)...
Hi SwingMan, appreciate your work very much!

Just one question, is there an indicator for MT4 that uses a calculation as in TradeStation?

Thanks.
  • #27,135
  • Mar 6, 2015 5:12am Mar 6, 2015 5:12am
Quoting Gluvina
{quote} Hi SwingMan, appreciate your work very much! Just one question, is there an indicator for MT4 that uses a calculation as in TradeStation? Thanks.
@Gluvina

Try the forexgrail spreadsheet, it can be found on FF.
It does exactly as described on Tradestation

LuXing
Wisdom begins in wonder
  • #27,136
  • Mar 6, 2015 5:22am Mar 6, 2015 5:22am
Quoting Gluvina
... is there an indicator for MT4 that uses a calculation as in TradeStation?
I dont know.

In one-two weeks I will finish a DashBoard for the 00-levels system like this: http://www.forexfactory.com/showthre...09#post3285809 with some of the enumerated formulas.
If anyone has interest, I could post this in forum.
  • #27,137
  • Mar 6, 2015 5:24am Mar 6, 2015 5:24am
Quoting SwingMan
{quote} Because the 00-levels system trades the M15 until H1 time frames, I think that the "best" time frame for the "SlopeStrength" = Tma-Slope indicator is M5 (with lower TF M1). In this case you have a "local" slope of this moving average, and you calculate a "local" currency strength. All time frames greather as the trading TF have no significance.
With M5 setting the indicator seems to enter in a never ending loop, there is an alarm sound every 10 seconds and my platform freezes. At least in my case,,,
Attached Image
  • #27,138
  • Mar 6, 2015 5:29am Mar 6, 2015 5:29am
Quoting SwingMan
{quote} I dont know. In one-two weeks I will finish a DashBoard for the 00-levels system like this: http://www.forexfactory.com/showthre...09#post3285809 with some of the enumerated formulas. If anyone has interest, I could post this in forum.

Ahh yes PLEASE!!!!

I can hardly wait

:-)

PGPB
  • #27,139
  • Mar 6, 2015 5:58am Mar 6, 2015 5:58am
Quoting LuXing
{quote} @Gluvina Try the forexgrail spreadsheet, it can be found on FF. It does exactly as described on Tradestation LuXing
Ahh, don't like external calculation spreadsheets for MT4, so I didn't realize it's the same calculation.
Now will take deeper look into it.

Thanks LuXing!
  • #27,140
  • Mar 6, 2015 6:01am Mar 6, 2015 6:01am
Quoting SwingMan
{quote} I dont know. In one-two weeks I will finish a DashBoard for the 00-levels system like this: http://www.forexfactory.com/showthre...09#post3285809 with some of the enumerated formulas. If anyone has interest, I could post this in forum.
Yes please!

Thanks SwingMan
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