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Golden Zone Power Mining Indicator

  • #21
  • Jun 29, 2016 1:04am Jun 29, 2016 1:04am
thanks a lot, Quinton.
  • #22
  • Jun 29, 2016 5:09am Jun 29, 2016 5:09am
do we have any FT for this Indi or nay EA based on this Indi?
  • #23
  • Jun 29, 2016 8:02am Jun 29, 2016 8:02am
Hi, i try your indicator, but seem not same with yours, here my chart:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily golden zone.png Size: 45 KB
  • #24
  • Jun 29, 2016 9:03am Jun 29, 2016 9:03am
Quoting Santoso777
Hi, i try your indicator, but seem not same with yours, here my chart: {image}


The clustered golden levels are generally stronger. If you go back and look at past data you will see that the clustered ones I generated have more significance and are better formed.

I got them by switching between H4 and daily (letting golden levels draw on those TFs). Then I set GeneratLevelsOnTfChange to false in order to view the levels on different TFs without having the indicator continue to draw them

You can play with the settings in different ways in order to find clustered golden levels (zones) or really well shaped ones (according to the golden level definition).

Q


>> Learn More About Golden Levels
  • #25
  • Jun 29, 2016 10:45am Jun 29, 2016 10:45am
Quoting Santoso777
Hi, i try your indicator, but seem not same with yours, here my chart: {image}
My levels are different than Santoso777 why ?

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy d1.png Size: 47 KB
  • #26
  • Jun 29, 2016 11:02am Jun 29, 2016 11:02am
Quoting Kubiasty
{quote} My levels are different than Santoso777 why ? {image}

Because different golden level are obtained from different time frames (read approach #2 in the first post). It all depends on the path you take. Some levels will be revealed on multiple TFs, some only on one. As you can see the two zones were respected by price. For the higher level @ 144.63 you could have added another level to the zone manually to account for those highs in the late 2012/early 2013 range (white box on chart). Sometimes you can expand the entry price targets a bit if you want to make sure that your entry positions get triggered.

Hope this helps.

Q

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy d1.png Size: 38 KB



>> Learn More About Golden Levels
  • #27
  • Jun 29, 2016 11:30am Jun 29, 2016 11:30am
Quoting Quinton
{quote} Because different golden level are obtained from different time frames (read approach #2 in the first post). It all depends on the path you take. Some levels will be revealed on multiple TFs, some only on one. As you can see the two zones were respected by price. For the higher level @ 144.63 you could have added another level to the zone manually to account for those highs in the late 2012/early 2013 range (white box on chart). Sometimes you can expand the entry price targets a bit if you want to make sure that your entry positions get...
Quinton what is ur R;R mm ?
When do you open trade? When Price hits gold level or bounce with pinbar from gold level ?
  • #28
  • Jun 29, 2016 2:50pm Jun 29, 2016 2:50pm
Nice Indicator-Good Job!!
  • #29
  • Jun 29, 2016 5:11pm Jun 29, 2016 5:11pm
​Quinton,
Does those vertical lines looks correct? Thanks for your comments.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-06-29_1708.png Size: 38 KB
  • #30
  • Jun 29, 2016 6:36pm Jun 29, 2016 6:36pm
Quoting earlroy63
​Quinton, Does those vertical lines looks correct? Thanks for your comments. {image}
If you want to mine the level from that short a time range, then go down to the H1 and zoom out, then move the vertical levels until you see a cluster of golden levels or well formed ones. However, that cluster of golden levels drawn from a higher TF on your chart should tell you that better priced support levels are found further down below.

We are in a massive range and you are best taking trades from the edges of those ranges when price is most over-extended

Q

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDWeekly.png Size: 66 KB



>> Learn More About Golden Levels
  • #31
  • Jun 29, 2016 10:29pm Jun 29, 2016 10:29pm
Quoting Kubiasty
{quote} Quinton what is ur R;R mm ? When do you open trade? When Price hits gold level or bounce with pinbar from gold level ?

There are outlier 1:10+ trades, but on average 1:2 - 1:5. I could let some run for more, however I prefer a more predictable, steady stream of pips.
(Refer to the chart in my tutorial. It tells you the R:R needed). Most of my trades are golden level touches. I am more focused on what PA does before the touch than right after (candle patterns). I rarely enter on a pin bar, as much of the move already occurs within the confirmation itself. I do enter on a pin bar if signifies the end of a retracement within a greater trend.

Generally when you trade from the best formed and priced levels, you do not need PA confirmation patterns. Candle patterns are a carry over from the equity world where you have strong momentum and you need an indication of when this momentum wanes before entering.

Q


>> Learn More About Golden Levels
  • #32
  • Jun 30, 2016 12:36am Jun 30, 2016 12:36am
Hi,Thanks for sharing your experience .

I will observe it, and i give my feedback

Thanks
  • #33
  • Jun 30, 2016 2:51am Jun 30, 2016 2:51am
Quoting pandey
do we have any FT for this Indi or nay EA based on this Indi?
For now the indicator acts as a visual aid in finding golden levels. However, I might consider developing something along these lines separately.

Q


>> Learn More About Golden Levels
  • #34
  • Jun 30, 2016 6:49am Jun 30, 2016 6:49am
Quoting Quinton
{quote} The clustered golden levels are generally stronger. If you go back and look at past data you will see that the clustered ones I generated have more significance and are better formed. I got them by switching between H4 and daily (letting golden levels draw on those TFs). Then I set GeneratLevelsOnTfChange to false in order to view the levels on different TFs without having the indicator continue to draw them You can play with the settings in different ways in order to find clustered golden levels (zones) or really well shaped ones (according...
Hi Quinton. Thanks a lot for your indicator!
I'm playing with it and I found it's very useful. Can you please add a parameter for the golden lines color and line type or maybe you can use the existing parameter for that which is under Colors tab - it's black now and it's not used. Thanks again!
  • #35
  • Jun 30, 2016 8:24am Jun 30, 2016 8:24am
Quoting factlover
{quote} Hi Quinton. Thanks a lot for your indicator! I'm playing with it and I found it's very useful. Can you please add a parameter for the golden lines color and line type or maybe you can use the existing parameter for that which is under Colors tab - it's black now and it's not used. Thanks again!
++++++++++++++++++++++++++++++++

Good idea, however I am quite pleased to have the indy as is. It's functionality is fantastic.

When I first loaded it on M15, I didn't see any lines. Then I added 2 vertical lines, and still nothing, until I moved one of the lines, then, levels in-between the lines became Highlighted.

Thanks Quinton...
  • #36
  • Jun 30, 2016 10:09am Jun 30, 2016 10:09am
https://www.mql5.com/en/charts/53895...securities-llc

EG approaching Golen zone..
  • #37
  • Jun 30, 2016 6:45pm Jun 30, 2016 6:45pm
Quoting factlover
{quote} Hi Quinton. Thanks a lot for your indicator! I'm playing with it and I found it's very useful. Can you please add a parameter for the golden lines color and line type or maybe you can use the existing parameter for that which is under Colors tab - it's black now and it's not used. Thanks again!

Sure, will include all this in the next version.

Q


>> Learn More About Golden Levels
  • #38
  • Jun 30, 2016 8:08pm Jun 30, 2016 8:08pm
I find this interesting... Like murrey math lines which I consider very good levels along with Fibonacci.... I trade futures via Ninjatrader platform.... Any way to program this indi for that platform?
  • #39
  • Jun 30, 2016 10:46pm Jun 30, 2016 10:46pm
Hi Quinton,

Thanks for your beautiful indicator.
Could you please add option to delete all levels created by indicator when remove it from charts?
And one more, sometime when I make some changes on my charts, the indicator automatically delete itself. It's kind of frustrating. Hope you fix it too.

Thank you.
  • #40
  • Jul 1, 2016 1:36am Jul 1, 2016 1:36am
Quoting extraw
Hi Quinton, Thanks for your beautiful indicator. Could you please add option to delete all levels created by indicator when remove it from charts? And one more, sometime when I make some changes on my charts, the indicator automatically delete itself. It's kind of frustrating. Hope you fix it too. Thank you.

If you read the thread you would know there is already a "Golden Level Remover" posted right at the start. It is however, simple enough to delete the lines from the "Objects" box.

With regard to the Indicator deleting itself......Is it deleting itself or just the lines drawn on a different timeframe ?? If it is just the lines, set "DeleteLevelsOnTFChange" to false in the inputs box.
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