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MADdash (Moving Average Distance)

  • #501
  • Jul 16, 2015 1:06pm Jul 16, 2015 1:06pm
Quoting Bernhard
so for today I was testing m1 version setups against m5 version setups. what are the results? as I have expected m5 did perform much better! much more losses with m1 and smaller targets kill the system, even it is in agreement with higher TFs. Maybe some good scalpers like gilead can do better but then its not a set and forget system anymore. For me its a no go. i like the quieter trading stile.
in your tests, control operations are performed with the EA multipurpose, but you open the operations manually or by some EA related maddash ??
very thanks!
  • #502
  • Jul 16, 2015 1:32pm Jul 16, 2015 1:32pm
Quoting Clipi
{quote} in your tests, control operations are performed with the EA multipurpose, but you open the operations manually or by some EA related maddash ?? very thanks!
I open trades manual after I checked charts. If I don't like quick entry I may use pending or stop order.

I asked before if someone can code this EA posted page 6 post 119 from alop to do an automated order. The maddash alert should be the trigger as simple as that but check if this pair have already existing order because alerts are repeating frequently. Multiple orders are possible and should be to get something like baskets but not 2 orders in same pair.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #503
  • Jul 16, 2015 11:03pm Jul 16, 2015 11:03pm
Hello Bernhard,

may I ask what MA's you use or better your Setup?

D.
  • #504
  • Jul 17, 2015 3:40am Jul 17, 2015 3:40am
Quoting DirkH143
Hello Bernhard, may I ask what MA's you use or better your Setup? D.
standart
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #505
  • Jul 17, 2015 4:34am Jul 17, 2015 4:34am
i not the full time forex trader , no time sit in front PC , 1 or 2 hour just look at MT4 chart , so i want my trending system very simply , therefore i request honestknave put 8 indexes from MT4 SIGTrander , that mean i only focus strong weak 8 lfx indexes , this is my idiot idea ......

YA...FerruFX u are right , some people like me got the free chicken wing still want the chicken leg , greedy people ! i want said again to honestknave this is excellent tool , thank you very much and same to Bernhard .

so now i dun want to mess up this MA Dashboard , have a nice weekend to all , sory my broken English .
  • #506
  • Edited 12:47pm Jul 17, 2015 6:39am | Edited 12:47pm
Quoting wooisui
i not the full time forex trader , no time sit in front PC , 1 or 2 hour just look at MT4 chart , so i want my trending system very simply , therefore i request honestknave put 8 indexes from MT4 SIGTrander , that mean i only focus strong weak 8 lfx indexes , this is my idiot idea ...... YA...FerruFX u are right , some people like me got the free chicken wing still want the chicken leg , greedy people ! i want said again to honestknave this is excellent tool , thank you very much and same to Bernhard . so now i dun want to mess up this MA Dashboard...
wait a few days. i will test long term setups with maddash from monday. indexes will not work. the whole dash is a multi time frame index. here are your index strenght http://prntscr.com/7tqigb

I just made the m15 setup. This is maybe more for your trading stile.
Attached File(s)
File Type: tpl 2 dash m15.tpl   281 KB | 656 downloads
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #507
  • Jul 17, 2015 12:41pm Jul 17, 2015 12:41pm
Quoting wooisui
i not the full time forex trader , no time sit in front PC , 1 or 2 hour just look at MT4 chart , so i want my trending system very simply , therefore i request honestknave put 8 indexes from MT4 SIGTrander , that mean i only focus strong weak 8 lfx indexes , this is my idiot idea ...... YA...FerruFX u are right , some people like me got the free chicken wing still want the chicken leg , greedy people ! i want said again to honestknave this is excellent tool , thank you very much and same to Bernhard . so now i dun want to mess up this MA Dashboard...
Hello wooisui,

I'm afraid I don't have access to SIGTrander, and I'm not entirely sure how I'd integrate those values into what MADdash does... sorry!

Wishing you a pleasant weekend too
  • #508
  • Jul 17, 2015 12:52pm Jul 17, 2015 12:52pm
Version 1.18

Enhancement: added a different alerting method

You can now choose between:

  1. The original alerting method (a comparison of TF1 and TF2); or
  2. You can get alerted when the currency blocks are entirely red / green. Note: the Alert Threshold settings does nothing in this mode


Attached Image (click to enlarge)
Click to Enlarge Name: ALERTMETHOD.png Size: 73 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH1.png Size: 96 KB
Attached File(s)
File Type: ex4 MADdash.ex4   127 KB | 892 downloads
  • #509
  • Jul 17, 2015 2:42pm Jul 17, 2015 2:42pm
very good work
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #510
  • Jul 17, 2015 10:05pm Jul 17, 2015 10:05pm
Thanks for the latest enhancement honestknave - really appreciate all your hard work on this!
  • #511
  • Jul 18, 2015 3:54am Jul 18, 2015 3:54am
is OK honestknave , now 1.18 version can comparing 2 TF is very good , awesome honestknave ...MANY THANK .

hi Berhard , thanks for your setup , i will try market when open
  • #512
  • Jul 18, 2015 5:22am Jul 18, 2015 5:22am
Quoting wooisui
is OK honestknave , now 1.18 version can comparing 2 TF is very good , awesome honestknave ...MANY THANK . hi Berhard , thanks for your setup , i will try market when open
you welcome. change new setting then to solid currency blocks
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #513
  • Jul 18, 2015 8:34am Jul 18, 2015 8:34am
Hi honestknave, A couple suggestions/requests to consider...

I like the alerts feature although not the popup. It would be nice to have the alerts popup optional while keeping the alerts column visible and functional.

Also agree with AKCodingEye, as an option it would be nice to add more timeframe columns. You could keep the defaults the way they are now but for those who would like more they could be turned on.

Thanks again for all your contributions!
  • #514
  • Jul 18, 2015 10:24am Jul 18, 2015 10:24am
Hope you are enjoying your weekend... that is if we are not bugging you for more coding...lol.

A few observations I had between MaDash and csDash: (See attached image)

1. Alerts: They both pretty much give the same entry signals around the same time (Buy or Sell signals).
2. MaDash M5 & M15 are much closer to csDash (in terms of Currency Strength). The H1 and higher TF of Madash start to deviate from csDash. As you can see in the screenshot.

Question is this: If both give the same Buy or Sell signal (if we are purely looking to act on the signal), "What benefits or advantages does MaDash have over csDash?" And how to use them together to compliment one another?

Thank you so much.
Attached Image (click to enlarge)
Click to Enlarge Name: MaDash + csDash_2.png Size: 136 KB
  • #515
  • Jul 18, 2015 2:48pm Jul 18, 2015 2:48pm
Quoting honestknave
Version 1.18 Enhancement: added a different alerting method You can now choose between: The original alerting method (a comparison of TF1 and TF2); or You can get alerted when the currency blocks are entirely red / green. Note: the Alert Threshold settings does nothing in this mode {image} {image} {file}

Great job as always Captain
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  • #516
  • Jul 18, 2015 2:58pm Jul 18, 2015 2:58pm
Quoting hashzar
Hope you are enjoying your weekend... that is if we are not bugging you for more coding...lol. A few observations I had between MaDash and csDash: (See attached image) 1. Alerts: They both pretty much give the same entry signals around the same time (Buy or Sell signals). 2. MaDash M5 & M15 are much closer to csDash (in terms of Currency Strength). The H1 and higher TF of Madash start to deviate from csDash. As you can see in the screenshot. Question is this: If both give the same Buy or Sell signal (if we are purely looking to act on the signal),...
Hi Hashzar,

For me personally and IMHO, the advantage of the MADdash over the csDash is that you have a PROBABLE idea of the kind of signals you are getting, whether it is a sustainable signal when the signal(s) coming from M1 to M15 has higher TF confirmation. The csDash signals are mostly based on current strength calculated over the TF of your choice and thus constantly fluctuating. The MADdash does the same thing but because we can see what price is doing on all the currency pairs in all the currency groups and if the signal(s) is still maintained on the HTFs, you know that price is just in a retracement and will LIKELY resume its trend after the pullback.

Shalom
Low Risk Low Stress High Reward High Probability Trades
  • #517
  • Jul 18, 2015 3:39pm Jul 18, 2015 3:39pm
Thanks 919gilead,

That's very interesting. I did not look at it as a retracement. The way I looked at the strength of a currency in MaDash is this: In the above screenshot (previous post, good example) you'll see that GBP is very strong (bullish) in all time frame (Indicating Overbought). As it would start to drop in ranking in lower time frame (M1, M5, M15), I would look for a reversal (weakness) in GBP and start to prepare shorting GBP. Provided there are further confirmation.

Have a great weekend!
  • #518
  • Edited 8:26pm Jul 18, 2015 8:03pm | Edited 8:26pm
Quoting hashzar
Thanks 919gilead, That's very interesting. I did not look at it as a retracement. The way I looked at the strength of a currency in MaDash is this: In the above screenshot (previous post, good example) you'll see that GBP is very strong (bullish) in all time frame (Indicating Overbought). As it would start to drop in ranking in lower time frame (M1, M5, M15), I would look for a reversal (weakness) in GBP and start to prepare shorting GBP. Provided there are further confirmation. Have a great weekend!

The advantage of the MADdash is that it is a reflection of the MA on my chart. I want to trade what I see on the chart and must trust my edge. I don't know the time of your screenshot but coincidentally I was taking screenshots of the dashboard every 15 minutes or thereabout.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ1 - 7172015.gif Size: 48 KB

Look at the above chart and the accompanying screenshots of the dashboard below taken @ 4 am (11 am UK time) , 4.30 & 5 am PST (12 noon UK time & 8 am EST when US market opened)
Attached Image (click to enlarge)
Click to Enlarge Name: GJ dash1 - 7172015.gif Size: 73 KB

You can see how both groups remained strong and weak during the pullback and until the resumption of the downtrend. Watch the next chart in the next post.
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  • #519
  • Edited Jul 19, 2015 10:28am Jul 18, 2015 8:11pm | Edited Jul 19, 2015 10:28am
I have a couple of questions, hoping someone can clear this up for me. Ran the Maddash all last week and have kept up with the updates. The more screen time I have with it the more I understand what it is telling me and the more I'm learning to trust it. My question is the ATR time frame? When I use the ATR time frame I get a lot more alerts, do these alerts just apply to the ATR time frame selected. The default is one hour and are they displayed along with the Comparing TF1 to TF2 alerts?? That's what I'm thinking is happening if some one could confirm please. Or does the ATR alert over ride the TF1 to TF2. I guess I don't completely understand the ATR variable.

Was also wondering how the default MA (37 smoothed) was arrived at? Was it from back testing, personal experience or?? I'm thinking a lot of consideration and thought went into the selection of that number. So I'm thinking the author of this indicator has a much better idea of what the MA should be than I do. I'm going to quit fooling with it and run the default this next week. Are most here using the default MA?

Appreciate all the work that has gone into this indicator. I'm not making an entry with out it.
  • #520
  • Edited 9:47pm Jul 18, 2015 8:24pm | Edited 9:47pm
Quoting hashzar
Thanks 919gilead, That's very interesting. I did not look at it as a retracement. The way I looked at the strength of a currency in MaDash is this: In the above screenshot (previous post, good example) you'll see that GBP is very strong (bullish) in all time frame (Indicating Overbought). As it would start to drop in ranking in lower time frame (M1, M5, M15), I would look for a reversal (weakness) in GBP and start to prepare shorting GBP. Provided there are further confirmation. Have a great weekend!

Look at this chart and the accompanying screenshots of the dashboard. Look at how in this chart, price breaks the Red MA Channel as compared to the first chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ2 - 7172015.gif Size: 56 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GJ dash2 - 7172015.gif Size: 73 KB

Look at the mini charts to the right of my chart and see the pinbars on both the M15 and H1 charts, and did you also notice the H1 pinbar supporting the downtrend resumption of the first chart I posted in post 518??

The GJ was in an uptrend all along but was in retracement during the London into US open as could be seen on the H4 chart.

The MADdash is just a tool to support and confirm what we see on the chart. I don't know what the groups will do next but I want to wait for the market to show its hands and get confirmation from the dashboard and other tools I use, then decide if I have a low probability trade.

Enjoy the rest of your week end, while I review more of my charts and screenshots.

Shalom
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