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  • #2,721
  • Jun 4, 2015 10:55am Jun 4, 2015 10:55am
Quoting ramadosss
I am newbie, could you please explain me what is EU. RIPT and trading terminology used in this system. So that i can try to explore something. Thanks
EU = EURUSD
RIPT is the non trading zone (2 yellow lines) in the middle of the channel.
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,722
  • Jun 4, 2015 10:56am Jun 4, 2015 10:56am
Quoting FerruFx
Sai Ram, do you have the .mq4 of the RenkoStreet_channel indicator ? If you don't want to post it here, may I ask you if you could remove the hard coded width and color set for the buffers ? That's very easy. In the Init(), you should have something like below: SetIndexStyle(0,DRAW_ARROW,0,1,Red); If you could simply remove ",0,1,Red" ... so it will look like the below: SetIndexStyle(0,DRAW_ARROW); You have 4 lines like the example (2 for lines and 2 for arrows). It would be great! Thank you...
No, I don't have the .mq4

One friend of mine has thrown to me the indicator with .ex4

If I have it I will give to you. It is no problem for me.


Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #2,723
  • Jun 4, 2015 10:58am Jun 4, 2015 10:58am
Quoting sriloba
{quote} No, I don't have the .mq4 One friend of mine has thrown to me the indicator with .ex4 If I have it I will give to you. It is no problem for me. Sai Ram
No worry. That was just a question as the arrows width can't be set as per our need without being back to the hard coded value when switching TFs.

Thank you anyway for your great work here!
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,724
  • Jun 4, 2015 11:08am Jun 4, 2015 11:08am
Thank you very much FerruFX.
  • #2,725
  • Jun 4, 2015 11:25am Jun 4, 2015 11:25am
Quoting ramadosss
Thank you very much FerruFX.
You're welcome!
MT4/MT5 EAs/Indicators/Alerts coder
  • #2,726
  • Edited 11:57am Jun 4, 2015 11:46am | Edited 11:57am
Now, I try to explain the daily pivot point traded also by the traders floors.

I like to set my daily pivot point from midnight to midnight ET just 2 hours before the Frankfurt opens.

M2/M4 : Bullish
- M2 is the low of the bullish day and M4 is the high of the bullish day

M1/M3 : Bearish
-M1 is the low of the bearish day and M3 is the high of the bearish day

Central pivot point (CPP) is where price has to decide its journey (go bullish or go bearish)

R1/S1 : Price used to relax in the normal day( no big red news to shake price action)

R2/S2 : OB/OS area. Once price reached those areas then price jumps into the water to relax.

Keep in mind, the daily pivot point works only 50% of the time. Because we works with the last 24 hours datas.

But if you use the pivot point wisely then great things might help you to see price action clearly.

I like to use the daily pivot point at midnight ET, my time to start the session of trading.

The chart below illustrates the behavior of price to evolve around the CPP.

At midnight,(P1) price opens above the CPP (P2). Most gurus see that as today is bullish. Then price retraces to the downside. When price behaves like this sequence then for me it is easy to predict the next move of the pair. Otherwise, it is complicated. Then price is intercepted by the lower channel (P3) then went to upward as fast as it came down then back to M4 (P4). Price ranges in the zone M4 and upper channel. Then price try the second time to reach CPP then is stopped by the lower channel (P5). Then price consolidates between the RIPT and CPP at the London session closes.

So for me, I like to use the pivot point with others indicators ( TL, fibo, price patterrn, etc,,) not alone.

Sai Ram
Attached Image (click to enlarge)
Click to Enlarge Name: MyTemplate.png Size: 101 KB
Being a fxtrader is not easy. Ones must working hard.
  • #2,727
  • Jun 4, 2015 12:22pm Jun 4, 2015 12:22pm
I think i understand your suggesions.lets see what happen next.Thanks to all the beautiful people.
  • #2,728
  • Edited 1:34pm Jun 4, 2015 12:26pm | Edited 1:34pm
Some pivot indicators.
Attached File(s)
File Type: ex4 ###Auto Pivot.ex4   15 KB | 292 downloads
File Type: ex4 ###Auto Pivot2.ex4   23 KB | 281 downloads
File Type: mq4 ###Auto Pivot2.mq4   16 KB | 287 downloads
File Type: ex4 Auto-Pivot_Plotter_Weekly_V2__1.ex4   18 KB | 290 downloads
File Type: mq4 Auto-Pivot_Plotter_Weekly_V2__1.mq4   11 KB | 293 downloads
File Type: ex4 PivotT.ex4   21 KB | 291 downloads
  • #2,729
  • Edited 9:47pm Jun 4, 2015 5:51pm | Edited 9:47pm
Hi fellow traders,

I want to share with you the way I choose the High Probability SetUp (HPSU)

There are 3 points very important :

1) Channel : 90% when price reach the area of the channel then price reverses

2) CPP : When price reach this key level price will decide its direction of the day 90% of the time

3) Mid pivot point : This key level is less significant then cpp

The chart below illustrates the High Probability SetUp (HPSU)

Example : Up Trend, M2/M4 -- M2 is the low of the bullish day

Price trades in the area of the confluent of events [ 1) + 2) + 3)]

When you see this setup you can hope a better day of trading

Tonight you can test it.

Sai Ram
Attached Image (click to enlarge)
Click to Enlarge Name: MyTemplate.png Size: 102 KB
Being a fxtrader is not easy. Ones must working hard.
  • #2,730
  • Jun 4, 2015 9:45pm Jun 4, 2015 9:45pm
Hello Sai Ram,

Which pivot level indicator you have used for determine above level ?

Thanks,

Budi
  • #2,731
  • Jun 4, 2015 9:47pm Jun 4, 2015 9:47pm
Quoting budidharma19
Hello Sai Ram, Which pivot level indicator you have used for determine above level ? Thanks, Budi
The one attached below


Sai Ram
Attached File(s)
File Type: ex4 FxKumbaya_Peter Bain_PivotsPoint.ex4   22 KB | 265 downloads
Being a fxtrader is not easy. Ones must working hard.
  • #2,732
  • Jun 4, 2015 11:47pm Jun 4, 2015 11:47pm
Verified are you going on EUR/USD again at frankfurt open?
Which way does it go?
And thanks for explaining the pivot points Sai Ram.

Regards,
  • #2,733
  • Jun 4, 2015 11:54pm Jun 4, 2015 11:54pm
Quoting daanreijn
Verified are you going on EUR/USD again at frankfurt open? Which way does it go? And thanks for explaining the pivot points Sai Ram. Regards,
hi, yes, i will go for it as every day. but i dont go for the move, i go for it's retracement. if there will not be a significant move, there will not be a significant retracement. watch a few times before you trade it. today will be a weird day - non farm payroll. do not overleverage.

best, v.
  • #2,734
  • Jun 4, 2015 11:59pm Jun 4, 2015 11:59pm
Quoting verified
{quote} hi, yes, i will go for it as every day. but i dont go for the move, i go for it's retracement. if there will not be a significant move, there will not be a significant retracement. watch a few times before you trade it. today will be a weird day - non farm payroll. do not overleverage. best, v.
Alright thanks for helping me so much. Cause to me it's just a normal day. Didn't even look op the news yet. Something I should do to avoid those pairs.

Regards,
  • #2,735
  • Jun 5, 2015 12:03am Jun 5, 2015 12:03am
Quoting daanreijn
{quote} Alright thanks for helping me so much. Cause to me it's just a normal day. Didn't even look op the news yet. Something I should do to avoid those pairs. Regards,
NFP is well known, some fear it so much that they dont trade at all. 100+ pips moves easily possible.
  • #2,736
  • Jun 5, 2015 12:09am Jun 5, 2015 12:09am
Quoting sriloba
{quote} The one attached below Sai Ram {file}
Dear Sai Ram,

Thanks for the indicator,... after I attached to the chart,.. then I know that you started the calculation 2 hours before Frankfurt,... any specific reasons,..,. or its only your trading strategy ?

Thanks,

Budi
  • #2,737
  • Jun 5, 2015 12:28am Jun 5, 2015 12:28am
Quoting budidharma19
{quote} Dear Sai Ram, Thanks for the indicator,... after I attached to the chart,.. then I know that you started the calculation 2 hours before Frankfurt,... any specific reasons,..,. or its only your trading strategy ? Thanks, Budi
My session of trading starts at midnight ET so it is logical to set the pivot point at the same time.

Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #2,738
  • Jun 5, 2015 12:36am Jun 5, 2015 12:36am
GU, GY, Gchf are the 3 pairs that have the same criterias as stated in post#2731

They are in my radar for today.

I hope price will retrace to the zone painted in aqua. This is a high probability set up


Sai Ram
Attached Image (click to enlarge)
Click to Enlarge Name: MyTemplate.png Size: 134 KB
Being a fxtrader is not easy. Ones must working hard.
  • #2,739
  • Jun 5, 2015 12:43am Jun 5, 2015 12:43am
Quoting sriloba
GU, GY, Gchf are the 3 pairs that have the same criterias as stated in post#2731 They are in my radar for today. I hope price will retrace to the zone painted in aqua. This is a high probability set up Sai Ram {image}
Could you update me on any signal? So if I understand correctly it always first goes to the pivot/m2 range? After that it will go the way it's planned?

Regards,
  • #2,740
  • Jun 5, 2015 12:48am Jun 5, 2015 12:48am
Quoting daanreijn
{quote} Could you update me on any signal? So if I understand correctly it always first goes to the pivot/m2 range? After that it will go the way it's planned? Regards,
Try to scan the pairs that are in the same situation in post2731 for long or short trade.

I can not do that because it is too much for me.

Sai Ram
Being a fxtrader is not easy. Ones must working hard.
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