Trading is as simple as ABCD

Long USDCAD,,,,,looking good too for bigger channels too

but

still to drop alittle more

patience and then the cycle will swing into place

Q..clive and all


how can we use or adapt the top24 ttindy for these channels to give us heads up for a trade?

Burning the midday/midnight oil Clive..?
I honestly feel we are fast approaching a really workable scenario. There will always be better ways of doing it and continuous tweaking, but we will get there.
Again thanx for your time and effort Clive. Your Dad is watching you...... and smiling!
Keep it up. A number of the guys are carrying the brains trust of this thread in their prayers daily!

been watching the video honest knave posted.just wanted everyones thoughts......i think like clive....its still good.even if its adjusting.i feel tho if you set your period settings right it will naturally compensate..i know clive has his set on 20 but i got.mine on 14 and doing good.i have made a template too exactly.the same but with the non repaint version

This is true!

Personally, I would:
1. Use the standard (repainting) version, relying upon it only in real time
2. Not attempt to apply the indicator to old charts for hindsight trading and consequently fool myself into thinking it would have given me lots of great signals that were never actually there at the time.
Just my $0.02

your input is valueableAfter looking at both indicators i was.comming to the same.conclusion.maybe you could help with the next important part.the ttindy alerts us to pairs that are starting to trend.how.can we have something similar that will alert us of 2 cycle.channels.comming together and both turninf up.or.down together....maybe also option in inputs to select how many cycles for confluence...2..3...4..as in channels.lined up together

Just watching british f1 grand prix and reminds me of the price and cycle.channels.

the car aroound the track and its positioning

honestknave - thanks for taking the time and trouble to post that video. So what you are saying is that your modded indi won't repaint provided you don't change any chart settings (like time frame for example).

Thank you MTpockets for your time sharing this. I have downloaded a thousand templates and top 8 indis and couldn't get it working properly. Now to tackle the indi in far right of screen listing the strength of currencies top to bottom. Is there a working version of that?

Thanks
Renegade

Here is a cool volatiity indy from Steve H site. It is like an excell spreadsheet. You can click on timeframe to resort info.

here you go

Here you go...

Its a really neat strength indicator try to trade the top two against the bottom two but like all strength indys when they'v been trading the same way for too long you basically have an overbought /sold situation so be careful of big reversals when that happens..

I tend to use it as confirmation of the pair that I'm trading so if theres GBP strength then Ill look to trade the GBP against one of the weakest two currencies.

One other thing I like about this indy is it will tell you the strongest weakest on the timechart it sits on so just change your timeframe and it will automatically show you the strongest/weakest on that timeframe..

Heres what it shows on the daily chart at the moment...



So its no surprise that GBPAUD, GBPNZD,EURAUD and EURNZD have been providing some strong 1 minute moves recently...

Very useful little indicator....

Thanx a ton Ace...[/quote]

Np ...

Thanks a lot Clive. That is a sweet indy!

Renegade

[quote=clivepackham;8363228]{quote} Here you go... Its a really neat strength indicator try to trade the top two against the bottom two................
Thank again clive for your input on this indie have a great day

Clive

just a thought....your ttindy is set for 100 and 150 hma on 1 and 4 mins?

If you set them both to the same period as your fasttmaline period eg..im if this would then give you the swings on hurst channels

Hi Guys

Spending my Week End as usual studying my charts and looking back over the week at all the trades I took, as many times I take pictures of my entries to establish just what the chart looked like at the time and I will also put notes on to tell me why I took the trade etc. This way I can start to workout where I got it right and where I got it wrong. I'd recommend this to all traders to just develop the skill to take a quick picture at every entry and exit if you can then you can review whats been happening..and of course modify your strategy accordingly..Looking back at your entry charts is quite amazing at times as they look so different than at the time when you entered..

So what have I learnt and what am I going to modify this week to improve my performance???

I guess many traders would say , "leave it alone it works why keep dabbling with it???"

Well the answers very simple if you remember my original goal here was to develop a trading system that had small losers and bigger winners as that according to a recent report by FXCM is what differentiates the profitable successful traders from the less successful traders ...

Now the ultimate, small losers, big winners scenario comes from taking low risk entries with small stops on the 1 minute charts but letting them run on the higher timeframe for a high probability bigger winner. To do that I enter on the 1 minute with very small stops say 10 to 20 pips max and exit for hopefully 100's of pips on the 5, 15 or HRLY moves.

All sounds perfectly logical to me and surely can't be that hard to achieve as price can only go up or down...so all we have to do is find the place on the chart where the higher timeframes are most likely to turn around eg reverse, then just enter on the 1 minute with our small risk.

Well the first part of the plan has gone very well so far as I feel very comfortable with my 1 min low risk entry system I've developed and have had some great results entering at market opens following my 1 min TTindy and scalping or Orphan hugging as we call it here. This has led to some regular scalps varying in size from as little as 10 pips to as many as 50 at times..

All well and good but not really what I'm after as per my original goal and I have never lost sight of that goal hence the constant tweaking and modifying I do.

Now I could just sit back and scalp the LO and NYO and get my 20 to 50 pips everyday I'm sure but something inside me just won't let it rest. I've set myself a goal and I've no intention of giving up on it yet. I have a burning desire to crack this Forex trading once and for all and work out how to enter with very low risk and yet get higher returns..

The ultimate successful trading strategy of Small losers , BIG winners.

So onwards and upwards with my quest....

First of all lets establish how I am going to find the best place to enter to get these bigger trades. To do that we need to look at the bigger picture using Devontraders "Cycles within Cycles" strategy..

Heres a chart showing the cycles within each cycle. I've removed the candles to clarify the cycles. You can see the HRLY cycle (red) and the 15 min cycle(yellow) moving up and down within that and lastly the 5 minute cycle (white) moving within the 15 min cycle. You could take this further if you wish by putting the 4 hrly and the daily cycles on but for my purposes the 5 to 1 hr is adequate for me.

You're noticed that I've dropped the 1 minute trading channel from my charts which I will explain later in my entry chart..



Firstly let me say that these channels are drawn by the TMAs from the relevant timeframes and theres been quite a discussion here and on FF in general as to the accuracy of these channels because they repaint. Well I'm not using them here to trade by, I'm saying they present a brilliant visual picture of how price moves in these channels and how each timeframes cycles move within each other. That is a fact and what you're looking at are the actual cycles regardless of when they were drawn.

So for the moment forget about the repainting issues just look at the cycles within each other as they are a fact..that is the way price moves. The accuracy of the channels to be used as signals as we trade is another issue all together, when the repainting becomes relevant which I will address later.

But for the time being use this chart to help you visualise whats going on with price action and the way it moves and how each cycle interacts with the other.

We can plainly see where we should be entering on our 1 minute charts to have a high probability bigger winning trade in line with the 15 min and hrly cycles and clearly when they all line up is when we should be entering on our 1 minute charts. What you can also see is that the best place to enter to get bigger winners is in the lower half of the channel for up sloping channels and in the higher half for downward sloping channels..

The ideal places here in this chart are where the lower bands of all three cycles merge together which I have marked with two up arrows. Can you see the white , yellow and red Lower bands are close together?? Whilst looking at this chart you will also see when the 5 min and 15 min lower bands meet there are again some nice trades to be had.

So the strategy is to identify these places and then to take an entry, but of course we never know for sure that they are going to workout, its only looking back that we see that they did and many times they will not work out so we have to have an exit strategy that deals with both scenarios, 1) When the trade goes on to become a nice hrly move or 2) When it doesn't but might give us 20 or so pips before turning around and heading back down...

Whenever we enter we need to take half off in the 5 min cycle as an Orphan trade and leave the other half to run with the hrly cycle..That way we have the best of both worlds and if it does go onto fulfill our HRLY cycle we will be quids in but if not at least we have earned something for the risk we took. If you enter when just the 5 min and 15 min bands touch then look to hold and exit on the 15 min opposite band.

Now we come to our entry plan and how we will time our trades. Firstly look back at our cycles within cycles chart and what do you notice about those points that worked??? The middle band turned green so indicating that price is actually turning back up with the trend, one thing about these TMAs is that for them to turn green price must have turned back up, repainting or not price HAS actually turned up...

Therefore all we need to do is wait for the middle band to change colour then use our 1 minute low risk entry system to join the trend. Basically after the middle band turns back with the trend take the first couple of CCI signals positioned in the correct part of the upward channel, the lower half and as near to the lower TMA as possible..

So lets have a look at my entry chart...



As you can see I wait for the middle band to turn green then look for CCI signal in the bottom half of the 5 min channel. I've dropped the 1 min channel from my charts as far too small a channel to trade sensibly so I'm trading the 5 min channel but entering on my 1 minute charts. Also be wary of taking CCI signals in the upper half of the channel as you can see they either don't work or don't go very far and I would definately not buy from under a 5 min or 15 min upper band as we fully expect price to react there.

Heres another example of the same method but at market opens, so again I'm looking for a change in the middle band colour then to take CCI signals in the lower half of the channel or at the 5 min lower band.



Exit half the 5 min upper band and hold half on the 15 min upper band maybe even until the 5 min middle band changes back the other way..If you've entered on an hourly band then consider holding on the opposite HRLY band.

heres an example of the 5 min orphan and the 15 min runner trades using Hieken ashi candles too..



So thats my strategy for trying to get the longer trade entries when the 5 and 15 min outer bands coincide but especially when the hrly is there too.

I will have the alerts set on my TMAs so that I know whenever a 15 min or hrly band has been hit so I can checkout the chart. meanwhile whilst waiting for the alerts I will be scalping nice sloping 5 min channels identified by my TTindy.

I am basically now trading in the direction of the 5 min channels but entering from my 1 minute charts with very small stops between 10 to 20 pips.

Lets see how that works out next week, will post trades as and when I can...

What would help is if a coder here would like to take the FastTMALine indicator and add a slope alert for me??? I think at the moment it just alarms on the outer bands being hit. If I had a slope alert on it I could then just sit back and relax until I get an alert...

That would be nice, anyone fancy that?? Indy attached in case...

What moving average do you suggest we use for this??? I don't think you can get a TMA centred MA??

Not sure but to be honest I'm looking to react to slope changes now and take the first couple of CCI signals banking half and loading half so not too worried. Plus if you can match up a MA thats similar to the TMAs then it will suffice but then we have the age old concern of missing the first two CCI signals in the new move as TTindy too slow to capture that first move...

Lets see how we go with these slope changes , gotta good feeling about them...

Yes.it would be good.if.a.coder could.code.something...that allows the user to enter the fastmaline period they are using in which time frame.. the rest of the timeframea left blank then alarm pop up gices you the signa.
you.can take 2 channels together or 3 or even 4 so good if option is codedl

Personally.i think the 5min and 15min channels are great....but i.also allow.the 1hr channel.on chart too in case i wanna let the big runner run