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As simple as possible: 00 level trading

  • #28,281
  • Mar 21, 2015 2:45pm Mar 21, 2015 2:45pm
Quoting nasap
{quote} There is not so much to understand about, just open your eyes! Therefore lets have a closer look on a chart. {image} {image} The 1st layer (indicator window 2) M-CanlesSW1 (Green/Maroon), 2nd HA_SWAlert (OliveDrab/FireBrick)), 3rd AbsoluteStrengthHisto2 (Lime/Red). I think it doesn't need further explanations because it is clear that it works as an additional filter and keeps you away from taking false signals. Regards nasap


Thanks for sharing. Verrrry interesting stuff.
2 questions;

1. In compliance with BT ideology (I love Genes stuff), do you use +/-0.8 as minimum correlation values for 2 pair sync purposes ?
2. On which TF ? My avg trade duration, sample of the last 450 trades = 12 min. Therefore, I look at the M15.

Cheers,

LuXing
Wisdom begins in wonder
  • #28,282
  • Mar 21, 2015 5:05pm Mar 21, 2015 5:05pm
nasap or another friend

good night ... Forex is a rum or on the Sabbath let agent in Peace.

You can tell if there is a meter or indicator or a statistic, you can say:

How many pairs candles in Sync in M30 run together?

EURUSD / EURJPY
GBPUSD / GBPJPY
AUDUSD / AUDJPY
NZDUSD / NZDJPY
USDCHF / CHFJPY
USDCAD / CADJPY

grateful
  • #28,283
  • Mar 21, 2015 6:17pm Mar 21, 2015 6:17pm
Quoting diallist
{quote} Udine posted them between posts 20700 and 20900.
diallist, thank you for directing me.

just to make sure, is it 0 5 4 3 0 1 3 ?

please can you check if the numbers are correct, if not then i'll keep looking.

thanks.
  • #28,284
  • Mar 21, 2015 7:01pm Mar 21, 2015 7:01pm
Quoting Robinho
nasap or another friend good night ... Forex is a rum or on the Sabbath let agent in Peace. You can tell if there is a meter or indicator or a statistic, you can say: How many pairs candles in Sync in M30 run together? EURUSD / EURJPY GBPUSD / GBPJPY AUDUSD / AUDJPY NZDUSD / NZDJPY USDCHF / CHFJPY USDCAD / CADJPY grateful
@Robinho
A good glass of rhum will do just fine

This will do all you need (and more).
Modifications courtesy of Eric Schroeder.

LuXing
Attached File(s)
File Type: ex4 Trend indicator.ex4   21 KB | 587 downloads
File Type: mq4 Trend indicator.mq4   14 KB | 749 downloads
Wisdom begins in wonder
  • #28,285
  • Mar 21, 2015 7:03pm Mar 21, 2015 7:03pm
Quoting NewToForex14
{quote} diallist, thank you for directing me. just to make sure, is it 0 5 4 3 0 1 3 ? please can you check if the numbers are correct, if not then i'll keep looking. thanks.
@NewToForex14

Do you plan on using the same user name in 2022 ?
All good to go, values are correct.

LuXing
Wisdom begins in wonder
  • #28,286
  • Mar 21, 2015 7:57pm Mar 21, 2015 7:57pm
Quoting LuXing
{quote} @Robinho A good glass of rhum will do just fine This will do all you need (and more). Modifications courtesy of Eric Schroeder. LuXing {file} {file}
Thank you friend, but that's not what I asked

one big hug
  • #28,287
  • Mar 21, 2015 8:02pm Mar 21, 2015 8:02pm
Quoting LuXing
{quote} @NewToForex14 Do you plan on using the same user name in 2022 ? All good to go, values are correct. LuXing
hopefully no

thanks for response.
  • #28,288
  • Mar 21, 2015 8:52pm Mar 21, 2015 8:52pm
Quoting NewToForex14
{quote} diallist, thank you for directing me. just to make sure, is it 0 5 4 3 0 1 3 ? please can you check if the numbers are correct, if not then i'll keep looking. thanks.
Good effort! As LuXing said, the numbers are correct.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,289
  • Mar 21, 2015 11:20pm Mar 21, 2015 11:20pm
I've read over 50 pages so far, but have some questions if anyone can help me while I continue reading that would be great.

It's pretty confusing so far.

Do we only set pending orders AFTER the 1 hour candle has closed? There's been a lot of conflicting charts. How come Udine sometimes set pending orders (on the M15 or M30 charts) before the 1 hour candle has even finished?

I've read some posts by Udine regarding this as well but still it was not clear to me. Can anyone help clarify please?
  • #28,290
  • Mar 21, 2015 11:35pm Mar 21, 2015 11:35pm
Quoting LFN
{quote} Thanks for your informative post nasap. May I ask a question about your indicator window 3... - Is there a reason you have the HeikenAshi_SWAlert in both indicator window 1 and 2? - You have two PriceToOpen indis, I guess they are 1440 (green/maroon) and 60 (red/green)settings? {image}
1. the only reason is to have the same colors in both windows
2. yes, that's correct

nasap
The little nut in your head is called brain. Use it!
  • #28,291
  • Mar 21, 2015 11:39pm Mar 21, 2015 11:39pm
Quoting genie
I've read over 50 pages so far, but have some questions if anyone can help me while I continue reading that would be great. It's pretty confusing so far. Do we only set pending orders AFTER the 1 hour candle has closed? There's been a lot of conflicting charts. How come Udine sometimes set pending orders (on the M15 or M30 charts) before the 1 hour candle has even finished? I've read some posts by Udine regarding this as well but still it was not clear to me. Can anyone help clarify please?
Hi genie,

Firstly, there are a few different variations to Udine's system that have emerged, such as the M15 method and lately the M30 method. They each have slightly different "rules". But the general usage of these methods is that you will place your pending order as soon as the candle OPENS (of which you have confirmation).

For for the 1H method, you place the trade each hour if conditions are met, on each M15 candle for the M15 minute or each M30 candle for the M30 method... if all conditions are met.

Some people do place the orders just before the candle opens. This is for 2 reasons: firstly it can be a mistake, and then burpees are due! Or secondly, this can be strategic as sometimes the close of the candle falls right on the 00/50 line where you would want to place the pending order, and now when the candle opens your broker doesn't allow you to place the trade, and you miss the opportunity. This is still fine to do this but in my opinion this is quite and advanced entry and you need to be careful when doing this.

Hope this helps?

Vlad
  • #28,292
  • Mar 22, 2015 12:04am Mar 22, 2015 12:04am
Quoting Vlad13685
{quote} Hi genie, Firstly, there are a few different variations to Udine's system that have emerged, such as the M15 method and lately the M30 method. They each have slightly different "rules". But the general usage of these methods is that you will place your pending order as soon as the candle OPENS (of which you have confirmation). For for the 1H method, you place the trade each hour if conditions are met, on each M15 candle for the M15 minute or each M30 candle for the M30 method... if all conditions are met. Some people do place the orders...
Hi Vlad,

Thank you so much, that was very helpful. Yes it is a bit confusing because theres so many variations from the original rules.

I understood 95% of your post. Just one clarification if you dont mind: For the M15 (or M30) method, do we still need the 1 hour candle to be same colour as daily candle?
  • #28,293
  • Mar 22, 2015 12:43am Mar 22, 2015 12:43am
Quoting genie
{quote} Hi Vlad, Thank you so much, that was very helpful. Yes it is a bit confusing because theres so many variations from the original rules. I understood 95% of your post. Just one clarification if you dont mind: For the M15 (or M30) method, do we still need the 1 hour candle to be same colour as daily candle?
I don't really use the M15 method so I can't comment on that. But for the M30 method it is not a strict requirement. Some people do use it for added confirmtion, or they use the colour change of the 1 hour candle for an advanced entry.

If I were you. I would read this post by Udine on the M30 method, and stick to the basic rules. This is a very easy to follow method and I'm finding it quite successful (when I stick to the rules).

http://www.forexfactory.com/showthre...51#post8127051

Most of the recent comments are on this method, so you will also be kept up to date if you are following it as well.

Vlad
  • #28,294
  • Mar 22, 2015 3:54am Mar 22, 2015 3:54am
Quoting Vlad13685
{quote} I don't really use the M15 method so I can't comment on that. But for the M30 method it is not a strict requirement. Some people do use it for added confirmtion, or they use the colour change of the 1 hour candle for an advanced entry. If I were you. I would read this post by Udine on the M30 method, and stick to the basic rules. This is a very easy to follow method and I'm finding it quite successful (when I stick to the rules). http://www.forexfactory.com/showthre...51#post8127051 Most of the recent comments are on...
Thanks
  • #28,295
  • Mar 22, 2015 9:07am Mar 22, 2015 9:07am
Quoting rhtrader
{quote} Just a suggestion. If the candle is double the ATR (480 is this case) then definitely avoid the trade after it and wait for a PB. Damn - I'm analyzing again
Quoting LuXing
{quote} @cycle Udines found a gold nugget. rhtrader is polishing it and maybe Monday after some more plastic surgery he will post something that does the job. Green = all good to go, Red = no go. LuXing {image}
A little present for you guys with reference to the above.

AverageBarRangeRH - Modified from Udine's original ATR In Pips indi.

  1. Renamed ATR to ABR - this indi is not really ATR
  2. Now display in sub window panels
  3. Plot in any corner
  4. Two labels can be positioned - one for ABR value and one for current / previous bar values
  5. Display previous bar size (high to low) or current bar size or both. Both catered for - e.g. for those who may be sneaking in a trade before the bar has closed.
  6. Bar size exception multiplier - default 2.0 times ABR. Bar label will highlight red (default) if current or previous bar size exceeds this value (if only one is displayed then it will only check the visible one)
  7. There was a small problem with the pip calculation on some pairs. Should be fixed.

M-CandlesRH

  1. Just a small mod to allow for different size wicks. I was getting confused when the wick from an M30 was the same size as a M60 and it was taking me time to note which wick related to which candle.

That's it. I've not tested either under live conditions - or with a 4 digit broker (suggestion get a 5 digit one) - so there may still issues but I think both of them should be ok. I'm sure you will let me know if there is a problem!

BTW I haven't implemented a background label to sit behind the text. One day but way too busy now....


Attached Image
Attached File(s)
File Type: mq4 M-CandlesRH.mq4   6 KB | 635 downloads
File Type: mq4 AverageBarRangeRH.mq4   4 KB | 1,116 downloads
  • #28,296
  • Mar 22, 2015 9:15am Mar 22, 2015 9:15am
Quoting rhtrader
{quote} {quote} A little present for you guys with reference to the above. AverageBarRangeRH - Modified from Udine's original ATR In Pips indi. Renamed ATR to ABR - this indi is not really ATR Now display in sub window panels Plot in any corner Two labels can be positioned - one for ABR value and one for current / previous bar values Display previous bar size (high to low) or current bar size or both. Both catered for - e.g. for those who may be sneaking in a trade before the bar has closed. Bar size exception multiplier - default 2.0 times ABR....
Just a further note. Two times ATR/ABR was mentioned for potentially avoiding a trade. Could be 3 times, 4 times? Who knows what is best. Use own discretion. It's only a warning after all.

R
  • #28,297
  • Mar 22, 2015 10:03am Mar 22, 2015 10:03am
Quoting Vlad13685
{quote} I don't really use the M15 method so I can't comment on that. But for the M30 method it is not a strict requirement. Some people do use it for added confirmtion, or they use the colour change of the 1 hour candle for an advanced entry. If I were you. I would read this post by Udine on the M30 method, and stick to the basic rules. This is a very easy to follow method and I'm finding it quite successful (when I stick to the rules). http://www.forexfactory.com/showthre...51#post8127051 Most of the recent comments are on...
Good answer Vlad.

I would add that we currently know, for the M30 method, that the H1 candle is not needed for the Level 1 & Level 2 entries.

For Level 3 entries, I'm going to speculate that the H1 candle will be needed, and possibly the HA indicator as well.

I am more than ready to hear Udine's official rules for Level 3 entries!

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,298
  • Mar 22, 2015 1:02pm Mar 22, 2015 1:02pm
Quoting diallist
{quote} Good answer Vlad. I would add that we currently know, for the M30 method, that the H1 candle is not needed for the Level 1 & Level 2 entries. For Level 3 entries, I'm going to speculate that the H1 candle will be needed, and possibly the HA indicator as well. I am more than ready to hear Udine's official rules for Level 3 entries! Dial
Thanks D.

Are we meant to enter as soon as the colour changes? Udine mentioned a few times to others that their entry was "late"...
  • #28,299
  • Mar 22, 2015 6:47pm Mar 22, 2015 6:47pm
Quoting genie
{quote} Thanks D. Are we meant to enter as soon as the colour changes? Udine mentioned a few times to others that their entry was "late"...
Look at my post 27690, then starting with Udine's post 27304 look at every chart Udine posted since then.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #28,300
  • Mar 22, 2015 7:05pm Mar 22, 2015 7:05pm
Tokyo open, GJ & EJ to TP

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