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Golden Zone Power Mining Indicator

  • #41
  • Jul 1, 2016 1:49am Jul 1, 2016 1:49am
seems interesting

can you please make a video about how to trade with this indi ?
  • #42
  • Jul 1, 2016 1:52am Jul 1, 2016 1:52am
Quoting 5aztv88
why my chart is so different from your chart? my indi option is different too . {image}
You obviousy didn't applied the right indicator discussed here ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #43
  • Jul 1, 2016 2:06am Jul 1, 2016 2:06am
Quoting FerruFx
{quote} You obviousy didn't applied the right indicator discussed here ...
yep... i have two golden named indi...
  • #44
  • Jul 1, 2016 2:11am Jul 1, 2016 2:11am
Quoting 5aztv88
{quote} yep... i have two golden named indi...
So you have a golden chart
MT4/MT5 EAs/Indicators/Alerts coder
  • #45
  • Jul 1, 2016 3:00am Jul 1, 2016 3:00am
Quoting sj9bp20
{quote} 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.
1. It's more convenient for an indicator to clean all its stuff when remove it from chart. I think Quinton use a script outside because he know someone will use the indicator in few periods, not all the time, and that person will want to leave some levels after remove the indicator. He already have all the code he need, just put the code in script to the OnDeinit function with an input boolean variable to check if delete all levels or not. It's not a big deal for him.
I read the thread and I know what the script doing from the beginning, I just want to contribute some feedback to make it a perfect indicator.

2. The indicator delete the indicator itself out of the Indicators list.
  • #46
  • Jul 1, 2016 7:15am Jul 1, 2016 7:15am
Quoting extraw
{quote} 1. It's more convenient for an indicator to clean all its stuff when remove it from chart. I think Quinton use a script outside because he know someone will use the indicator in few periods, not all the time, and that person will want to leave some levels after remove the indicator. He already have all the code he need, just put the code in script to the OnDeinit function with an input boolean variable to check if delete all levels or not. It's not a big deal for him. I read the thread and I know what the script doing from the beginning,...

Will be part of the next update.

Q


>> Learn More About Golden Levels
  • #47
  • Jul 1, 2016 8:12am Jul 1, 2016 8:12am
https://www.mql5.com/en/charts/53946...securities-llc

102x held well, 119x approaching..
  • #48
  • Edited Jul 4, 2016 3:22pm Jul 3, 2016 7:59pm | Edited Jul 4, 2016 3:22pm
NZD/USD

Price is approaching two sets of golden levels, both defined by Jan - May 2015 range. The golden zone power indicator revealed the higher price levels @ .7515, while I added the lower levels manually according to the golden level definition @ .7420 (price respects the level sharply from both the long and short side). Also, the weekly 200 MA is dipping right below it. Therefore while it is not as well priced for a short at the higher level, it should be considered on these merits.
The better priced level has long-term .50 fib confluence drawn from the mid-2014 high. This is a good technical setup for an evenly split position across both price zones.


http://www.streamhedge.com/viewchart...-7-4_NZDUSD_W1

>> Learn More About Golden Levels
  • #49
  • Jul 4, 2016 7:15pm Jul 4, 2016 7:15pm
Hi Quinton. I like this style of trading. I suppose it's a silly question, but the higher the time-frame, the more accurate the golden levels would be? So if I use Monthly, Weekly and/or Daily, do they generate valid golden levels for lower TFs like 4HR and 1HR to be traded from?
  • #50
  • Jul 5, 2016 2:31am Jul 5, 2016 2:31am
Quoting Macdon
Hi Quinton. I like this style of trading. I suppose it's a silly question, but the higher the time-frame, the more accurate the golden levels would be? So if I use Monthly, Weekly and/or Daily, do they generate valid golden levels for lower TFs like 4HR and 1HR to be traded from?
Hi Macdon,

Not a silly question at all.

You usually have more highs and lows forming the levels on longer term TFs. This means that you tend to end up with several levels forming a wider price range. In these cases it can be hard to determine the exact level where other traders' orders are concentrated (a requirement for a strong, short-term price bounce). In fact, the absence of a sharply defined level might even be an indicator that there are no nearby concentration of orders. You usually want to increase stops and hold your position longer on these. But realize that once you hold for longer, technicals become less and less of a factor. This is why I focus on short to medium term price bounces from sharply and recently defined levels.

There are levels that are sharply defined over the course of years of price data. However, these are rare. Usually, the addition of past PA introduces ambiguity and increases the zone's range.

If you want to trade from the H1 TF you definately tend to want to trade from sharp levels, defined by nearby price ranges. This is a base requirement. If, however, the level is confirmed by past ranges that date back a bit, even better. However, you do need the recent action to define the level.

Hope this helps.

Q



>> Learn More About Golden Levels
  • #51
  • Jul 5, 2016 9:51am Jul 5, 2016 9:51am
Thanks for sharing!!!
  • #52
  • Jul 5, 2016 9:54am Jul 5, 2016 9:54am
https://www.mql5.com/en/charts/54112...securities-llc

A golden level is approaching..
  • #53
  • Jul 5, 2016 10:16pm Jul 5, 2016 10:16pm
Hello Quinton,

I just downloaded your indi and studied your way of trading. It's very interesting! Very similar with what I've been learning (long term SRs), however I wonder if you could point something out for me?

You see, I've been using confirmation type of entry (pinbar, OB, IB, etc) at long term SR levels, and it's kind of "scary" to pending order a level like your way. I wonder what is the idea behind why you are so courageous to trade without that sort of confirmation?

I know that strong levels will bounce without looking back, but taking a sharp move like your USDCAD kind of feeling like jumping into a big needle with naked butt.

I've always admire you guys who are excellent with pending order. If would be cool if you can offer me some tips how to evolve into your way.

Thanks for your time and your cool indi!

Cheers!
Simplicity is the key to brilliance
  • #54
  • Jul 5, 2016 11:41pm Jul 5, 2016 11:41pm
Quoting LinFX
Hello Quinton, I just downloaded your indi and studied your way of trading. It's very interesting! Very similar with what I've been learning (long term SRs), however I wonder if you could point something out for me? You see, I've been using confirmation type of entry (pinbar, OB, IB, etc) at long term SR levels, and it's kind of "scary" to pending order a level like your way. I wonder what is the idea behind why you are so courageous to trade without that sort of confirmation? I know that strong levels will bounce without looking back, but taking...
Good question.

It depends heavily on the strength of the levels you trade from. Also, on that USDCAD trade, price had already passed through several lows before hitting the golden level creating some headwind for price. When it neared the level, price was practically screaming to be shorted. So PA in the run up to the level + strong levels make all the difference when entering without candlestick confirmation. With experience you get a feel for which levels are worth fading directly.

The issue I have with PA confirmation in the FX world is that a large chunk of the move that could have been profit is given up to the confirmation. This makes sense in the stock world where you have high momentum moves that need to show some sign of reversing before entering counter to this move. Of course, when stocks trend strongly, they retrace less than most FX pairs and so one can afford to give up a bit of the overall move to the confirmation. However in FX, in general, it makes less sense.

Q


>> Learn More About Golden Levels
  • #55
  • Jul 6, 2016 12:45am Jul 6, 2016 12:45am
Quoting goodness
https://www.mql5.com/en/charts/54112...securities-llc A golden level is approaching..

That level is a bit too close to the level that caused the bounce after the Brexit drop. This is a difficult one as there are many highs that could form various levels. It does seem that price is settling for the following zone. However, pinpointing an exact level for the bounce is tricky in this case.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 78 KB



>> Learn More About Golden Levels
  • #56
  • Jul 6, 2016 9:18pm Jul 6, 2016 9:18pm
Hi Guy's.

I don't understand why but the indicator works on a EURUSD and GBPUSD chart but not on USDJPY and USDCHF. I created a template of the EURUSD chart and then used the template on the others?

Help

Thanks.
  • #57
  • Jul 11, 2016 3:45am Jul 11, 2016 3:45am
Quoting johnvr
Hi Guy's. I don't understand why but the indicator works on a EURUSD and GBPUSD chart but not on USDJPY and USDCHF. I created a template of the EURUSD chart and then used the template on the others? Help Thanks.
Hi johnvr,

Does it work when you apply the indicator directly to USD/JPY and USD/CHF?

Q



>> Learn More About Golden Levels
  • #58
  • Jul 11, 2016 3:46am Jul 11, 2016 3:46am
Quoting Beertje
Thanks for sharing!!!
  • #59
  • Jul 11, 2016 4:07am Jul 11, 2016 4:07am
GBP/AUD

Price is approaching a long-term range with several golden levels appearing within it. I would consider the first golden level a conservative entry as price momentum is starting to wane on the H4 and H1 after the initial hard drop. 1.6240 should be included in the entry zone to increase the chances of a long position getting triggered.

http://www.streamhedge.com/viewchart...7-11_GBPAUD_W1



>> Learn More About Golden Levels
  • #60
  • Jul 12, 2016 3:16am Jul 12, 2016 3:16am
EUR/AUD

Price is barreling toward a zone of golden levels. PA on the lower TF shows price developing a parabolic curve so any longs taken should be place at super conservative price levels. I won't be taking any short-term position as there is no recent price range that confirms these levels.

http://www.streamhedge.com/viewchart...7-12_EURAUD_W1



>> Learn More About Golden Levels
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