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Attachments: Trader Dale - daily trading levels
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Trader Dale - daily trading levels

  • #201
  • Oct 4, 2016 4:37am Oct 4, 2016 4:37am
Quoting HappyMe
{quote} Hi everybody.... I saw some incorrect values in the first version. See the screenshot! It was just a labeling problem and could solve it quickly! So here is already version V02!! Sorry for the confusion!! {image} {file} {file}
No problem, thanks!!!
  • #202
  • Oct 4, 2016 4:52am Oct 4, 2016 4:52am
From 1240s eu has been going down.When it is in the 1160s it turns and goes to 1180s. WOW
  • #203
  • Oct 4, 2016 4:57am Oct 4, 2016 4:57am
Hi Dale,

Just been thru the thread, twice , Love the levels you have picked out - wish I had the skill to do the same. I personally trade the dax but IF I could establish levels as accurately as you are doing I'd certainly be adding some forex pairs. Making 15 x's your risk in a month is more than enough to do the job!!

Will most definitely be actively watching your thread thanks.

Quick question if I may, given the basis of finding the levels do you carry any untouched levels thru to the next day and beyond?

Thanks again Ziggy
  • #204
  • Oct 4, 2016 5:57am Oct 4, 2016 5:57am
Quoting baherhosni
{quote} There you go!! That was TIP#1 guys.. use futures and then calculate the level values into forex Probably using ratios right? now your "talken"
Can somebody explain this tip some more? Where is this going about....
using futures.....and then transform ratios into forex....?!

huh?!

So we have futures.....we get there some ratio's from..... how/where?!
And finally transform the found ratios into forex (into the different pairs?!)....how/where!?

At the moment there is one big question-mark on my desk

Who can throw some light on this dark question-mark-desk?

Dale....?!
You can manage risk, but you can't manage the return
  • #205
  • Oct 4, 2016 6:02am Oct 4, 2016 6:02am
Very good work HappyMe! Tell me please how to work with these indicators? Blue is a signal buy, red is the signal a sell?
To learn how to swim , you first need to enter the water!
  • #206
  • Oct 4, 2016 6:12am Oct 4, 2016 6:12am
Hello Dale
What do you mean the big guys hunt SL? Who are these big guys? how do they know my SL?
  • #207
  • Oct 4, 2016 6:23am Oct 4, 2016 6:23am
Quoting HappyMe
{quote} Hi everybody.... I saw some incorrect values in the first version. See the screenshot! It was just a labeling problem and could solve it quickly! So here is already version V02!! Sorry for the confusion!! {image} {file} {file}
HappyMe you are very kind, I will download this and see how it looks on DAX too. Do both the files go into the indicator folder?

Thanks again Happyme
  • #208
  • Oct 4, 2016 6:31am Oct 4, 2016 6:31am
Quoting ziggy
Hi Dale, Just been thru the thread, twice , Love the levels you have picked out - wish I had the skill to do the same. I personally trade the dax but IF I could establish levels as accurately as you are doing I'd certainly be adding some forex pairs. Making 15 x's your risk in a month is more than enough to do the job!! Will most definitely be actively watching your thread thanks. Quick question if I may, given the basis of finding the levels do you carry any untouched levels thru to the next day and...
Thank you. Yes the levels are active until next day levels are made. If one level isn't tested one day, It will probably be among new levels the next day.
  • #209
  • Oct 4, 2016 6:34am Oct 4, 2016 6:34am
Quoting IndexScalper
{quote} HappyMe you are very kind, I will download this and see how it looks on DAX too. Do both the files go into the indicator folder? Thanks again Happyme
You're welcome, hope it can help.

Indeed both in the indicators folder (if you are not interested in coding you alsocan only put the *.ex4 file in the indicators folder.
You can manage risk, but you can't manage the return
  • #210
  • Oct 4, 2016 6:35am Oct 4, 2016 6:35am
Quoting HappyMe
{quote} Can somebody explain this tip some more? Where is this going about.... using futures.....and then transform ratios into forex....?! huh?! So we have futures.....we get there some ratio's from..... how/where?! And finally transform the found ratios into forex (into the different pairs?!)....how/where!? At the moment there is one big question-mark on my desk Who can throw some light on this dark question-mark-desk? Dale....?!
There are two ways to collect the high and low of the prior day's session

-> use daily data
-> define a session, for example from 6:00 PM EST to 5:15 PM EST for CL, apply the corresponding session template, and then determine the session high and low pivots from intraday data
There is only one way to learn. It’s through action.
  • #211
  • Oct 4, 2016 6:36am Oct 4, 2016 6:36am
Quoting wayfarer
Very good work HappyMe! Tell me please how to work with these indicators? Blue is a signal buy, red is the signal a sell?
Please start reading the start of this threat....
This indicator is just showing you the active upper and lower SL's .....that's all!!

So It's clearly not an indicator what is telling you to buy or sell!!!
You can manage risk, but you can't manage the return
  • #212
  • Oct 4, 2016 6:39am Oct 4, 2016 6:39am
Quoting HappyMe
{quote} Can somebody explain this tip some more? Where is this going about.... using futures.....and then transform ratios into forex....?! huh?! So we have futures.....we get there some ratio's from..... how/where?! And finally transform the found ratios into forex (into the different pairs?!)....how/where!? At the moment there is one big question-mark on my desk Who can throw some light on this dark question-mark-desk? Dale....?!
For example now there is cca 37 pips difference between fx and futures fo eur/usd and 6E now. So when I make a level for example for 1,1202 (futures) then it is 1,1202-37=1,1165 forex. Other way is to simplny put the 2 graphs fut and fx next to each other and visually see where the level from futures is on forex...
  • #213
  • Oct 4, 2016 6:41am Oct 4, 2016 6:41am
Quoting HappyMe
{quote} Hi Dale, I believe I'm finished with the indicator for MT4. See the attachments (ofcourse: use is of own risk...!) It can be programmed much nicer...it's a quick and dirty this time anyway it's working as it shoot I think! If I have some more time I can overview it. But first let's see if this indicator is usefull for his task!! EDIT: Found a little flaw and could repair it quickly. Below you find Version: V02! {image} {file} {file}
great work buddy. thank you!
  • #214
  • Oct 4, 2016 6:42am Oct 4, 2016 6:42am
Quoting mahfoozah
{quote} There are two ways to collect the high and low of the prior day's session -> use daily data -> define a session, for example from 6:00 PM EST to 5:15 PM EST for CL, apply the corresponding session template, and then determine the session high and low pivots from intraday data
Thanks.....but this is not going about finding the prior daily high and/or low...

it's still dark on my questionmark-desk
You can manage risk, but you can't manage the return
  • #215
  • Oct 4, 2016 6:45am Oct 4, 2016 6:45am
Quoting Trader-Dale
{quote} great work buddy. thank you!
Glad to help, Hope it's usefull for all of us

Quoting Trader-Dale
{quote} For example now there is cca 37 pips difference between fx and futures fo eur/usd and 6E now. So when I make a level for example for 1,1202 (futures) then it is 1,1202-37=1,1165 forex. Other way is to simplny put the 2 graphs fut and fx next to each other and visually see where the level from futures is on forex...
Thanks Some light is shining again I can work with that I think!
You can manage risk, but you can't manage the return
  • #216
  • Oct 4, 2016 6:54am Oct 4, 2016 6:54am
Quoting HappyMe
{quote} Can somebody explain this tip some more? Where is this going about.... using futures.....and then transform ratios into forex....?! huh?! So we have futures.....we get there some ratio's from..... how/where?! And finally transform the found ratios into forex (into the different pairs?!)....how/where!? At the moment there is one big question-mark on my desk Who can throw some light on this dark question-mark-desk? Dale....?!
The futures market covers many things but mainly commodities such as oil, gold, corn, soya, pork bellies etc and of course the major forex pairs. Futures are traded thru one "exchange" no matter which broker is used, so volumes traded in the futures markets are 100% accurate. Mostly us retail traders trading in forex are using brokers with the spot market. ie what you can buy or sell real currency at right now, their liquidity generally comes form many places including banks etc. Futures markets are not spot prices, they are a price set for the expiry of a contract on a set time on a set day. The prices for the futures market are therefore not the same as the spot market. BUT the difference between the spot & futures market in price remains pretty static on any given day........... So, if you have access to the futures market data you can see REAL volumes traded at all levels and consequently can have a good idea where there is likely to be significant activity if price reaches back to the same level, no guarantee but generally the market will at least be quite active at this level even if not in the direction you hope for If the price on the futures market is say 8 points above the spot market, your spot level will need to be adjusted by 8 points to be operating at the "same" level. Probably as clear as mud now, but hopefully it has helped
  • #217
  • Oct 4, 2016 7:00am Oct 4, 2016 7:00am
Quoting ziggy
{quote} The futures market covers many things but mainly commodities such as oil, gold, corn, soya, pork bellies etc and of course the major forex pairs. Futures are traded thru one "exchange" no matter which broker is used, so volumes traded in the futures markets are 100% accurate. Mostly us retail traders trading in forex are using brokers with the spot market. ie what you can buy or sell real currency at right now, their liquidity generally comes form many places including banks etc. Futures markets are not spot prices, they are a price set...
Thank you!!
Well it's a clear story. Well then my next question is:
"Can we retail traders have access to the future market?"
I am just using a forex-broker (so I only see the spot-prices). and yes...the volumes I can see are only the volumes within the broker-area.... Is there a work-arround?!
You can manage risk, but you can't manage the return
  • #218
  • Oct 4, 2016 7:14am Oct 4, 2016 7:14am
Quoting HappyMe
{quote} Thank you!! Well it's a clear story. Well then my next question is: "Can we retail traders have access to the future market?" I am just using a forex-broker (so I only see the spot-prices). and yes...the volumes I can see are only the volumes within the broker-area.... Is there a work-arround?!
There might be some brokers who you can get the info from, but to be honest I'm not sure. If you have a professional charting package such as Sierra Charts you then pay for a data feed which does come direct to the charts from the exchange in real time, I don't know of any other way to get real time data from the futures market than paying for it - but maybe somebody else does. In order to get the activity levels for past action you don't actually need to have real time data, there probably are ways to get delayed data from the futures markets - but again I'm not familiar with how.

For someone with real time data seeing price stop at a certain level with an ever increasing number of contracts being traded and then turn around tells you something, but even armed with that info there is no guarantee to riches, that's where the skill of reading order flow comes in - mere mortals such as myself still have a way to go!!
  • #219
  • Edited 7:39am Oct 4, 2016 7:25am | Edited 7:39am
Quoting ziggy
{quote} There might be some brokers who you can get the info from, but to be honest I'm not sure. If you have a professional charting package such as Sierra Charts you then pay for a data feed which does come direct to the charts from the exchange in real time, I don't know of any other way to get real time data from the futures market than paying for it - but maybe somebody else does. In order to get the activity levels for past action you don't actually need to have real time data, there probably are ways to get delayed data from the futures markets...
Thanks ziggy,

Well then it's clear that if we can't reach the futures data (delayed one would be even as good)...then I'm afraid this very interesting black box...will stay a black box....

If somebody knows how to get it.....please be my guest!

@Dale...am I to quick with my conclusion?!
You can manage risk, but you can't manage the return
  • #220
  • Oct 4, 2016 7:39am Oct 4, 2016 7:39am
Quoting HappyMe
{quote} Thanks ziggy, Well then it's clear that if we can't reach the futures data (delayed one would be even as good)...then I'm afraid this very interesting black box...will stay a black box.... If somebody knows how to get it.....please be my guest!
You can open a demo account an get real time data. It's more common to have delayed one, which is also good for this kind of analysis.
The platforms from Futures markets are way more complex than MT4s, so there is a rather steep learning curve.

I opened a demo account and still learning. I don't know if I can insert the link here, so you guys have a look. Google Infinity Futures. They use Sierra Charts.
Cheers
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