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As complicated as necessary: 00 level trading

  • #1
  • First Post: Edited 5:25pm Mar 19, 2015 5:00pm | Edited 5:25pm
In Udine's "00-levels" thread http://www.forexfactory.com/showthre...tpost&t=487923 many members are trading a wonderful system!
Here I try with a simple indicator for manual trading to take into account the main rules.

Please check whether the signals are correct, and if they have any suggestions please post them. If I find it good, I program it.
I have not tested the indicator in real time, and maybe there are many hidden bugs. Please identify them...

Please provide any trading questions , you can find everything in Udine's thread.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30.png Size: 39 KB
Attached File(s)
File Type: ex4 sm00Level SignalMatrix_v1.0.ex4   36 KB | 1,476 downloads
  • #2
  • Mar 19, 2015 5:02pm Mar 19, 2015 5:02pm
Quoting SwingMan
In Udine's "00-levels" thread http://www.forexfactory.com/showthre...tpost&t=487923 many members are trading a wonderful system! Here I try with a simple indicator for manual trading to take into account the main rules. Please check whether the signals are correct, and if they have any suggestions please post them. If I find it good, I program it. Please provide any trading questions, you can find everything in Udine's thread. {image} {file}

yahoo!!!
  • #3
  • Mar 19, 2015 5:24pm Mar 19, 2015 5:24pm
Need some more explanation and charts showing trades so we can understand all those indicators...
Life is like a snickers, its full of nuts!
  • #4
  • Mar 19, 2015 6:09pm Mar 19, 2015 6:09pm
Quoting firewight
Need some more explanation and charts showing trades so we can understand all those indicators...
Sorry,
but that is a single indicator...

Whether the lines correspond to the indicators in Udine's thread, you need to check that, and determine whether they have been programmed correctly.
Charts with trades I do not post (I do not have time to trade), I wrote this.
  • #5
  • Mar 19, 2015 6:25pm Mar 19, 2015 6:25pm
Well thanx for your effort, but without more information and an explanation on how it works or what is supposed to happen, I'll pass...

How we are supposed to determine if they have been programmed correctly when we dont know how they are supposed to work is not very helpful. I think the least you could do is explain it.

Thanks anyways.
Life is like a snickers, its full of nuts!
  • #6
  • Mar 20, 2015 1:20am Mar 20, 2015 1:20am
Many thanks. I will try how it looks on the chart
  • #7
  • Mar 20, 2015 2:21am Mar 20, 2015 2:21am
Quoting firewight
... without more information and an explanation on how it works or what is supposed to happen, I'll pass...
Oh, no...

Quote
How we are supposed to determine if they have been programmed correctly
When one put the classic system indicators in a chart, one can see if the arrows and the histograms have the same colors. It seems that everything is OK.

(But, I just can see on the right chart that the H1 Price/Open arrows and the signal arrows differ from the arrows on the left chart...
OK, I must find the bug!)

An important question is where is the daily open time ...
We have the GMT time, the local-time and the broker-time (on my computer I have GMT = locally - 1 hour, and Broker = locally + 1 hour)

The last three rows are filters:
- Trading Hours - you have to set as you want to trade
- Previous Short Bar - possibly dont trade after long bars (3 x ATR)
- Price / Daily ATR - possibly dont trade when the daily High/Low exceeds Low+ATR and High-ATR

Quote
...when we dont know how they are supposed to work is not very helpful. I think the least you could do is explain it. Thanks anyways.
I believed that everything is self-explanatory...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM30-Matrix.PNG Size: 75 KB
  • #8
  • Mar 20, 2015 4:24am Mar 20, 2015 4:24am
Quoting SwingMan
In Udine's "00-levels" thread http://www.forexfactory.com/showthre...tpost&t=487923 many members are trading a wonderful system! Here I try with a simple indicator for manual trading to take into account the main rules. Please check whether the signals are correct, and if they have any suggestions please post them. If I find it good, I program it. I have not tested the indicator in real time, and maybe there are many hidden bugs. Please identify them... Please provide any trading questions , you can find everything...
SwingMan,

I have followed you and benifited from your work for the past few years. This is a nice piece of work. My suggestion would be for an alert option (ability to input a .wav file), alerting once per bar when everything lines up.
"Amat Victoria Curam" Victory Loves Preparation
  • #9
  • Mar 20, 2015 4:35am Mar 20, 2015 4:35am
Quoting daytrade5
...My suggestion would be for an alert option (ability to input a .wav file), alerting once per bar when everything lines up.
Sure, later when I'm sure that all is functioning.
  • #10
  • Mar 20, 2015 5:50am Mar 20, 2015 5:50am
Quoting SwingMan
{quote} Oh, no... {quote} When one put the classic system indicators in a chart, one can see if the arrows and the histograms have the same colors. It seems that everything is OK. (But, I just can see on the right chart that the H1 Price/Open arrows and the signal arrows differ from the arrows on the left chart... OK, I must find the bug!) An important question is where is the daily open time ... We have the GMT time, the local-time and the broker-time (on my computer I have GMT = locally - 1 hour, and Broker = locally + 1 hour) The last three rows...
Dear swingman,
that made the last 3 arrows clear and nice dashboard, trading hour/daily open line - i need to change as per the broker and alert will be further instant helper
thanks for every thing
  • #11
  • Mar 20, 2015 7:14am Mar 20, 2015 7:14am
Hey Swingman,

I have been watching your indicator all morning across 6 markets on the 15min charts. It appears to be working correctly. I have
not found any issues. I will continue to monitor it. This is a very nice piece of work.
"Amat Victoria Curam" Victory Loves Preparation
  • #12
  • Mar 20, 2015 7:37am Mar 20, 2015 7:37am
Quoting daytrade5
Hey Swingman, I have been watching your indicator all morning across 6 markets on the 15min charts. It appears to be working correctly. I have not found any issues. I will continue to monitor it.
Very good! From time to time you can refresh the charts on changing the time frame as example, and check if the arrows and signals remain the same!
  • #13
  • Mar 20, 2015 8:25am Mar 20, 2015 8:25am
Quoting SwingMan
{quote} Oh, no... {quote} When one put the classic system indicators in a chart, one can see if the arrows and the histograms have the same colors. It seems that everything is OK. (But, I just can see on the right chart that the H1 Price/Open arrows and the signal arrows differ from the arrows on the left chart... OK, I must find the bug!) An important question is where is the daily open time ... We have the GMT time, the local-time and the broker-time (on my computer I have GMT = locally - 1 hour, and Broker = locally + 1 hour) The last three rows...

Thank you for a better explanation. I have been testing the indicator, but if the Tokyo open time is set after 00:00, the trading hours indicator is set to a full 24 hours, which means the indicator remains active...

Here in Australia the Tokyo open time is 01:00 and the indicator wont work for this setting.

Just for your information.
Life is like a snickers, its full of nuts!
  • #14
  • Mar 20, 2015 8:27am Mar 20, 2015 8:27am
Nice job SwingMan!

I'm also testing your indicator.
Quote
- Previous Short Bar - possibly dont trade after long bars (3 x ATR)
What does that mean exactly (3 X ATR)?
  • #15
  • Mar 20, 2015 9:08am Mar 20, 2015 9:08am
Quoting firewight
... if the Tokyo open time is set after 00:00, the trading hours indicator is set to a full 24 hours, which means the indicator remains active... Here in Australia the Tokyo open time is 01:00 and the indicator wont work for this setting.
I know this, and I will solve the "time"problems later.
  • #16
  • Mar 20, 2015 9:11am Mar 20, 2015 9:11am
Quoting PartySheeper
...What does that mean exactly (3 X ATR)?
When for the previus bar "High-Low > 3 x ATR", maybe is better not to trade. (Please read the comments about in Udine's thread)

For "Short Bars" < 3 ATR you do win...
  • #17
  • Mar 20, 2015 11:15am Mar 20, 2015 11:15am
Swingman,


The last filter: Price / Daily ATR - possibly dont trade when the daily High/Low exceeds Low+ATR and High-ATR
Is this the same as the Average Daily Range information? If it is, then it does not follow the indicator provided
in the tread which gives the ADR RmUp and RmDn information.

For example right now the EurUsd, GbpUsd, and EurJpy will not show signals becauseof the Price/DailyATR.
Applying the xADR_0.2renko from the thread, there is still room to reach the ADR. This indicator is displayed on
almost every single chart that members have posted in the thread. I've attached the indicator from the thread in
case I am not explaining this correctly.

Thanks
Attached File(s)
File Type: mq4 xADR_0.2renko.mq4   4 KB | 690 downloads
"Amat Victoria Curam" Victory Loves Preparation
  • #18
  • Mar 20, 2015 1:25pm Mar 20, 2015 1:25pm
Quoting daytrade5
...The last filter: Price / Daily ATR ... it does not follow the indicator provided in the tread which gives the ADR RmUp and RmDn information.
Good remark!
You are right, because I used an other formula. I think is better to use this to have same values as in thread. Thanks.
  • #19
  • Mar 21, 2015 10:35am Mar 21, 2015 10:35am
Dashboard looks good so far, except for the known Trading Hours issue.

It would be nice to have an audible alarm when indicators are signaling a possible trade.

SwingMan, thanks for your work and for sharing it!
  • #20
  • Mar 21, 2015 2:43pm Mar 21, 2015 2:43pm
Great stuff as always SwingMan!

Is the indi taking into consideration all the rules, like upcoming news also?

Thx.

PC
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