Arr I see what you are saying, looks like I got the wrong end of the (s)tick.
"Wrong end of the (s)tick"
You reap what you sow.
"Wrong end of the (s)tick"
{quote} Hey pedma, I've just seen your recent conversation with BillYon on Vlad's thread, and I now understand why you're talking about tick charts. Actually the First Opposite TZ system presented here does not analyse Bill's idea. It analyses TZs at the bar level, not price or tick level. A TZ on an M240 bar may not contain any TZs on lower timeframes, but that's not relevant to this system. I think that Bill's idea about price hitting a certain level only once, creating a true TZ, has some merit, but would be very difficult to prove...
{quote} ... Pedma, You dont have to use the futures data you can just connect to your broker and create an offline chart (I think MathTrader recently posted some code to do so). However the tick chart will only be a representation of the market from your broker's data feed, not all of the forex market. Depending on the broker, I doubt it will be an issue as it should be a large enough sample to be an adequate representation. Give it a go and see what you find. You wont know until you try.
{quote} This is indeed what I understand. These events must be caught microscopically. 1 min and below. Waiting for a non recurrent price level for some -h and a deviation from such. Impractical..yes but not so much with an EA. The single possible transient price or zone of prices {quote}
Good friends are more valuable than gold ...
{quote} Thanks NT, yes i should use H4 for this First Opposite System, especially it supports the overlapping idea. {quote} Thanks for your information Innate.
Solutions ONLY!!!
- #105
- Jun 8, 2015 1:40am Jun 8, 2015 1:40am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
I do not think you can trade them because no one has been able to quantify just how far price should move away from a PTZ before you take the trade betting that it will come back to it.
But if you enter and place stops dynamically, at different levels each time, then you will win (according to the analysis). And if you use even more discretion - adjusting entries, stops and targets according to the current market environment, or skipping trades entirely if something looks wrong - then you will win even more. In other words, to trade TZs successfully you have to know how to trade. That's why people like FX-Jay can produce such good results when trading TZs!
But if you know how to trade in the first place, then why bother trading TZs and not some other system? I guess that's down to personal choice, whatever floats your boat. I for one am not married to TZs, and the main reason I did this analysis was to see if they had any edge at all. It seems that most of the edge is down to the skill of the trader, as usual.
By the way, some people have asked me what system of entry I use to produce the positive dynamic retrace stats posted recently. I've evaded this question until now, but in fairness I should at least provide a hint. The indi simply uses an EMA as a guide for entry - sometimes just above it and sometimes just below it. And the stop is based on current volatility. It's as simple as that! But I can't give you the exact parameters, sorry. If you play around with entries and stops yourselves then you might find even better ones
You reap what you sow.
- #110
- Jun 8, 2015 11:42pm Jun 8, 2015 11:42pm
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #112
- Jun 9, 2015 12:23am Jun 9, 2015 12:23am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
{quote} I use h that is the smallest one to get 3%. This can be our own choice or based on Jay's trade examples. {quote} Hi Jmn, May i know the indie you mentioned ? Yes, it is very difficult to know when price will come back. This is a very important thing, this can maximize our profit, and minimize DD. So far i just know the 'star' @H4 by diceman. Using Sim/DS is another idea, but the price does not directly change its direction after the zone changes its color .... Eurusdd has a good tools to detect this retrace, but i do not know what it is...
kprsa created a pdf to help with the usage. I believe it is his indie.
If you are good at something, never do it for free--Joker
- #113
- Edited 2:30am Jun 9, 2015 2:04am | Edited 2:30am
{quote} It's just one EMA. If by "cross" you mean when price crosses it, then yes. But price doesn't have to touch it if momentum is strong. And I repeat, this may not be the best way. It was just a fairly simple technique that I could code into the analysis indicator.
Good friends are more valuable than gold ...
- #114
- Jun 9, 2015 11:40am Jun 9, 2015 11:40am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #117
- Jun 9, 2015 4:53pm Jun 9, 2015 4:53pm
- Joined Feb 2014 | Status: ember | 1,268 Posts
{quote} In that code, there is much of code commented (probably all parts of "opposite" TZ's). EDIT: not sure, i react to post with RecurrenceStatisticV4.3.ex4
While there may have been people adding other stuff to it, the original code I wrote dealt only with single TZs.
Cheers,
k
edit: the mql code is here:
