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Start Winning - Trade the Current Trend

  • #221
  • Nov 22, 2016 10:37am Nov 22, 2016 10:37am
Quoting missH
Thank you for your share. {quote}
No worries. I like to teach and help if I can.
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  • #222
  • Edited 11:24am Nov 22, 2016 10:53am | Edited 11:24am
My trade of the Day. UJ H1 short using M5 for entry.

This trade was based on my analysis of the volume. I did not use the RSI entry method or consider the MAs for this trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 57 KB
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  • #223
  • Nov 22, 2016 10:59am Nov 22, 2016 10:59am
Nice one, how can I do to have that candles an volume bars? is very interesting for my trading.

Quoting wizlon32
My trade of the Day. UJ H1 short using Mr for entry. This trade was based on my analysis of the volume. I did not use the RSI entry method or consider the MAs for this trade. {image}
  • #224
  • Nov 22, 2016 11:04am Nov 22, 2016 11:04am
Quoting Trinquete
Nice one, how can I do to have that candles an volume bars? is very interesting for my trading. {quote}
See post 126. Download the pdf and study it to learn how to read volume. Go to a PVSRA thread and get volume candles suite and volume suite indicators.
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  • #225
  • Nov 22, 2016 11:06am Nov 22, 2016 11:06am
Thanks wizlon32

Quoting wizlon32
{quote} See post 126. Download the pdf and study it to learn how to read volume. Go to a PVSRA thread and get volume candles suite and volume suite indicators.
  • #226
  • Edited 11:58am Nov 22, 2016 11:21am | Edited 11:58am
Here is an indicator that I think would be useful for keeing an eye on the HTF trend and would potentially allow the removal of the HTF MAs which may help to remove confusion and screen clutter. Also it would be easier to trade in line with 2 HTF trends. i.e the H1 and H4 or H4 and Daily.

So if both of the top lights were green that is definetly when you want to look for longs and obviously shorts if they are both red.

I can't share it here as I received it with a paid subscription that I had some time ago with an online educational website.

Also the MA values in this one are not fully customisable. You can change the MA period and method but if you choose Exponential for one then you have to use exponential for the other.

Has anyone got something similar?

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB
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  • #227
  • Nov 22, 2016 12:28pm Nov 22, 2016 12:28pm
Hi Wizlon,

Is it possible to share your ADR indy show at the top of your screens or point me to where I can find it?

Thanks
  • #228
  • Nov 22, 2016 1:21pm Nov 22, 2016 1:21pm
Quoting Nelson35a
Hi Wizlon, Is it possible to share your ADR indy show at the top of your screens or point me to where I can find it? Thanks
Of Course. Here it is.

Attached File(s)
File Type: ex4 ADR_v2.ex4   11 KB | 352 downloads
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  • #229
  • Nov 22, 2016 1:28pm Nov 22, 2016 1:28pm
Quoting wizlon32
{quote} Of Course. Here it is. {file}
Excellent, Thanks Wizlon
  • #230
  • Nov 22, 2016 1:47pm Nov 22, 2016 1:47pm
Quoting wizlon32
My trade of the Day. UJ H1 short using M5 for entry. This trade was based on my analysis of the volume. I did not use the RSI entry method or consider the MAs for this trade. {image}
Hmm, been reading this thread, and you've shown some nice ideas.. but now you've gone against the whole idea and thread title?

"Trade the Current Trend" .. those trades are counter trend into resistance... It's gonna get confusing bud!
  • #231
  • Nov 22, 2016 1:52pm Nov 22, 2016 1:52pm
Quoting wizlon32
Here is an indicator that I think wouldbe useful
I found the indicator already on Forex Factory so here is the link. Ihaven't tried it so I hope it works.

http://www.forexfactory.com/showthread.php?t=539500

I will be working on finding some good settings for this new indicator. Please feel free to experiment too and share your ideas.

Here is what my template will look like with the new indicator added and the HTF MAs removed.

I am sticking with my 10 EMA combination on my current trading chart. They will possible be the only MAs that I will use.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 51 KB


You may notice that on the screen shot above that Ihave got the settings set to a generally fast MA combination. The reason that I think that might be good for me is because I like scalping - longer term traders would probably prefer a slower combination like the 34 and 55 EMAs. I would use the 10 combination if Icould but the indicator doesn't take those settings.
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  • #232
  • Edited 2:41pm Nov 22, 2016 2:10pm | Edited 2:41pm
Quoting leeshindig
{quote} Hmm, been reading this thread, and you've shown some nice ideas.. but now you've gone against the whole idea and thread title? "Trade the Current Trend" .. those trades are counter trend into resistance... It's gonna get confusing bud!
They were not traded in to resistance. They were trades taken away from resistance. Big difference. Unless you mean they were trades in to MA support?

I do see what you are saying though and I was aware of that. However as the thread progresses I am going to keep showing examples of how to use volume because it is so important. I didexplain that that trade was not as per this system. If people don't want to understand volume then they need not pay it any attention. But I would go as far as to say if you understand volume you dont need any other indicator (apart from price)

I said in one of my posts that I want this thread contain lots of additional ideas and information that will help develop traders and Volume is key!

I will also add that I want this system to evolve. There is room for improvement in everything and nothing will improve if youdon't make it happen. I am however very keen to keep the dynamic of the system intact as it is.
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  • #233
  • Nov 22, 2016 2:15pm Nov 22, 2016 2:15pm
Yeah I see, that's fine mate , it's your thread after all!!

Only saying because I started reading the thread, and within half an hour of reading the method had gone from HTF MAs and 5M MAs & Rsi to volume and counter trend

Keep the the info coming tho . Some nice ideas
  • #234
  • Nov 22, 2016 2:30pm Nov 22, 2016 2:30pm
Quoting wizlon32
{quote} I found the indicator already on Forex Factory so here is the link. Ihaven't tried it so I hope it works. http://www.forexfactory.com/showthread.php?t=539500 I will be working on finding some good settings for this new indicator. Please feel free to experiment too and share your ideas. Here is what my template will look like with the new indicator added and the HTF MAs removed. I am sticking with my 10 EMA combination on my current trading chart. They will possible be the only MAs that I will use. {image} You may notice that on...
I know that some will not feel comfortable without the HTF MAs on the chart there is nothing to stopyou using HTF MAs and the signal Bar indicator.

For example I might use the M5 Chart with H1 HTF MAs anduse the signal bar indicator to see whats going on on H4 and D1.

Please let me know if you agree with leeshindig. If Iam confusing you I will calm it down a bit. Maybe I get a little carried away.
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  • #235
  • Nov 22, 2016 3:33pm Nov 22, 2016 3:33pm
My point of view...you are in a good road. I like to use M5 to do my trades, but Im not felling very comfortable with the HTF ema´s in that chart because if in H1 was a downtrend, you must to wait to the HTF ema´s in M5 go in the same way. Waiting that happen you can lost a good trade. I feel more comfortable with you last chart than older ones.

Quoting wizlon32
{quote} I know that some will not feel comfortable without the HTF MAs on the chart there is nothing to stopyou using HTF MAs and the signal Bar indicator. For example I might use the M5 Chart with H1 HTF MAs anduse the signal bar indicator to see whats going on on H4 and D1. Please let me know if you agree with leeshindig. If Iam confusing you I will calm it down a bit. Maybe I get a little carried away.
  • #236
  • Nov 22, 2016 4:02pm Nov 22, 2016 4:02pm
Quoting Trinquete
My point of view...you are in a good road. I like to use M5 to do my trades, but Im not felling very comfortable with the HTF emas in that chart because if in H1 was a downtrend, you must to wait to the HTF emas in M5 go in the same way. Waiting that happen you can lost a good trade. I feel more comfortable with you last chart than older ones. {quote}
Thank you for your comment Trinquette.

You mean when the 10 EMA combo has just crossed on H1 and there is a delay on their repraventative MAs (HTF MAs) on M5?

I don't see the MA cross as a signal myself, especially the HTF MA Cross. But that does not mean that you are wrong. We all see things differently and have our own experiences to guide us.

My thoughts on removing the HTF MAs....... We would not be ignoring the HTF trend because we can use the Signal Bar Indicator. Actually we are now able to monitor 2 HTF trends with less clutter / confusion on the chart. I find this quite interesting. I think it might now be easier to hit the button when we get an RSI signal! Also the bottom row of lights adds another MA filter which you can choose to use or ignore.

We will see.
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  • #237
  • Nov 22, 2016 5:07pm Nov 22, 2016 5:07pm
Quoting jcat
{quote} I don't do anything special, I used your system. I did add a stochastic, and used it for divergence. However, I am seeing the same divergence on the RSI 3, so it may be that I can take off the Stochs. This is the E/U chart. I did not take all of these trades, but I did take 3 of them. The RSI 3 going back below 50 (turns red on my chart) is a great place to get in. I enter 1 pip below that candle. All of the "checks" I put on my chart would have been good trades 10+ pips. The green X, would have gone positive, also, but my 1 pip below the...
jcat, can you please share your RSI above/under indicator please? I would like to check it out.
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  • #238
  • Nov 22, 2016 5:10pm Nov 22, 2016 5:10pm
I went to the FF thread you pointed to earlier, but when used, I don't see the "previous week open/close" value.
And, how did you get the indicator down into another window (lower right)? I gave the corner all kinds of values and watched it walk around on the main data window. I'm willing to work with this if it means cleaning up my charts w/o losing data points.
  • #239
  • Nov 22, 2016 5:17pm Nov 22, 2016 5:17pm
Quoting lctrader11
I went to the FF thread you pointed to earlier, but when used, I don't see the "previous week open/close" value. And, how did you get the indicator down into another window (lower right)? I gave the corner all kinds of values and watched it walk around on the main data window. I'm willing to work with this if it means cleaning up my charts w/o losing data points.
Not sure about the previoius week thing. I don't want to use that part anyway so I might download it myself.

Change the sig_bars_window to 1 or 2 depending on how many windows you have got.

window 0 is the main chart. Window 1 is the highest sub window. window 2 is the next sub window down etc
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  • #240
  • Nov 22, 2016 5:24pm Nov 22, 2016 5:24pm
Oh, gotch'a! Took care of that. My "general area" values for putting into the lower right-hand corner of my 2nd sub-window are now:

Corner of chart = 1
Shift Up_Dn = 30
Adjust side to side = 0
Sig Bars Window = 2

Where's the EASY BUTTON ?? !! Thanks
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