This is work in progress, as to be honest, I'm finding this method difficult to trade, but that's probably just down to meAnyway, I've taken the original concept AND the OP's indicator and have built another indicator to get it to look closer to the videos. There's no EA or anything, but I'm adding features such as highlighting roadblocks, displaying the Pip distance from price and being able to zoom...
- #142
- Oct 15, 2015 1:21pm Oct 15, 2015 1:21pm
- Joined Aug 2010 | Status: Stare Into the Lights My Pretties! | 795 Posts
This is work in progress, as to be honest, I'm finding this method difficult to trade, but that's probably just down to me
Looks promising....please go ahead. I always look for improvements.
This is work in progress, as to be honest, I'm finding this method difficult to trade, but that's probably just down to me
I'll work on it over the next day or so and see if I can get it ready for human consumption.
{quote} Love you indi broDo you think maybe you could make it so the user could set the TFs - THANX MAN
I will take care of this weekend, so sunday evening must be fixed.
If you want for the time being you can change the values in the mq4 file
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// below define the timeframes you like to use
int tfp[NTF] = {5, 30, 60, 240}; // Time frames/lanes - in minutes. Like H4=240, D1=1440 etc...
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
BR
Huub
It is not important how often you fall down, but how often you get up again
- #152
- Oct 15, 2015 7:32pm Oct 15, 2015 7:32pm
- Joined Aug 2010 | Status: Stare Into the Lights My Pretties! | 795 Posts
Hi folks, Thanks for sharing this wonderful system AO. Great job! While going through your Dynamic Fibonacci Grid v1.1 indicator code I stumbled on a small error I believe. You have set the array to 6 while there are 7 values. At line 27 --> int ma_period[6] = {21,34,55,75,100,144,233}; // SMAs, NMA-1 shouldn't that be --> int ma_period[7] = {21,34,55,75,100,144,233}; // SMAs, NMA-1 Sorry if I am mistaken.
There is no error...... the counting starts from 0 ( 21 = 0 , 233 = 6).
{quote}
But there are 7 values so you have to declare 7 slots for them.
Then later when you want to get, let's say the first value, you call ma_period[0] which holds the value of 21 and for the last one: ma_period[6] which holds the value 233. In other words, from 0 to 6 that's 7 slots.
Anyway, again, nice job
- #155
- Oct 15, 2015 8:35pm Oct 15, 2015 8:35pm
- Joined Aug 2010 | Status: Stare Into the Lights My Pretties! | 795 Posts
{quote} That's right AO, the counting starts from 0.
- #159
- Oct 16, 2015 2:43pm Oct 16, 2015 2:43pm
- Joined Aug 2010 | Status: Stare Into the Lights My Pretties! | 795 Posts
thank you for your comprehensive reply. If we are looking at the lanes, does the relative height of the blue bands mean anything, like increasing momentum? Also Today, a number of pairs have just been bunched in between several lines, this would be chop right, and we should sit on our hands. I'm looking for something that could be a set up to jump out, but I'm not sure what I'm looking for yet. So far I have done a few small successful trades where it's bouncing off a level. I don't know if these are the best but these are the ones I find easiest...
From a pure technical perspective, the typical pattern sequence goes like this:
1. Range(at least 70% of the time) the price goes up and down in the middle of big yellow areas. The pattern persist until we get to phase 2.
2. Range Breakout ( most breakouts fail and the price goes back to phase 1.) however, IF the breakout is successful and price persists in the same direction - we go to phase 3.
3. Trend. (all timeframes go in the same direction, the grid is aligned in order. Current price above/bellow all averages, 1m leading followed by 5m 15m, 60m and you see ''clear roads" ahead with very few levels. The trend continues until we get to phase 4.
4. Bounce or blue to white setup. Market is overbought/oversold and we get natural reaction. The price pulls back to the averages. Then if there is strong presure it will bounce again in the derection of the major trend and go to new high/low extending the trend.
At this stage the market will keep going back and forth between phase 3 and 4 until we get to phase 5.
5. Reversal! It usualy starts like normal correction (phase 4), but the price persists gaining momentum against the major trend. It breaks the averages, and on the grid you see "V"shape pattern. Then the price usualy bouces back and forth a few times and then gets quiet and we go back to phase 1.
End of story....
This whole pattern repeats over and over and over.....
We trade each one of the phases from 1 to 5.
All you have to do is to identify correctly the current phase, then wait for good entry level (do NOT chase the price) once you are in - apply the correct money management strategy. Take profit or loss, and wait for the next opportunity.