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Trader Dale - daily trading levels

  • #1,861
  • Dec 14, 2016 8:20am Dec 14, 2016 8:20am
Quoting Trader-Dale
{quote} never trade during macro news. Be especially carefull today because of FOMC.
Hi Dale/and All
the fomc is around 2000 eu time.
by a 'Be especially carefull '..do we stop before this time with the levels from today, specially the USD ones ?
Thx.
  • #1,862
  • Dec 14, 2016 8:23am Dec 14, 2016 8:23am
Quoting firsttimer
{quote} hello ziggy, when i open the template, mine is slightly messier. i believe we have different indicator settings. can u share yours? thanks once again. {image}
I have 2 indicators on my chart, attached, and hopefully I've also managed to attach the template. Indicators go in your data folder under MQL4/indicators. Template goes in your data folder, in templates.

Once you've added them into the data folder you will most likely have to close down mt4 & restart it. I'd suggest saving what you already have, then loading just 1 pair into your platform, then applying the template "naked". I've attached a screenshot of how mine looks, hope this helps. once you're happy then you can apply the template to your own charts.
Attached File(s)
File Type: ex4 riv_ay-MarketProfileDWM.v131-2.ex4   55 KB | 470 downloads
Attached File(s)
File Type: ex4 SweetSpotsGOLD.ex4   4 KB | 352 downloads
Attached File(s)
File Type: mq4 SweetSpotsGOLD.mq4   4 KB | 350 downloads
Attached File(s)
File Type: tpl naked.tpl   551 KB | 372 downloads

Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-14_1422.png Size: 249 KB
  • #1,863
  • Dec 14, 2016 8:48am Dec 14, 2016 8:48am
Ziggy,

Can you adjust the start time, I would like mine to start at the beginning of the day, this is defaulted to 3 hrs ahead of that.

Thanks for your contribution.
  • #1,864
  • Edited 9:00am Dec 14, 2016 8:50am | Edited 9:00am
Do the same rules apply for longer term trading (7 days) and are the levels the same,,,,for instance 2 days ago their was a level of .7386 long,,AU ,,,,is that level still valid ? if so , for a 10 pip move?
thank you
  • #1,865
  • Dec 14, 2016 9:13am Dec 14, 2016 9:13am
Quoting radaway
{quote} Hi Dale/and All the fomc is around 2000 eu time. by a 'Be especially carefull '..do we stop before this time with the levels from today, specially the USD ones ? Thx.
we are looking some way off all of the levels, and the FOMC release is 4 hours away. The chances of hitting the levels through "normal" movement aren't high, if by some chance they are hit pre the release then I have alarms in place and will trade right up to 15 mins before, I'll do this because if touched there is every chance of a move back pre release. But if not hit by 15 mins pre release I will not trade them at all. The rate rise has been so heavily touted that anything that doesn't meet expectations is bound to have a significant response and I don't think a line in the sand is likely to stop it So the FOMC rate will be announced at 19:00 UK time, and 30 mins later there is a press conference, both can cause BIG movements!
  • #1,866
  • Dec 14, 2016 9:20am Dec 14, 2016 9:20am
Quoting XxixixX
Ziggy, Can you adjust the start time, I would like mine to start at the beginning of the day, this is defaulted to 3 hrs ahead of that. Thanks for your contribution.
change the setting where I've shown below, but before you do so make sure your broker chart itself actually does line up with where you want the profile to run from. If you put 3 in this field it will shift the profile 3 hrs forward, -3 and it goes 3 hrs back,
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-14_1517.png Size: 79 KB
  • #1,867
  • Dec 14, 2016 9:31am Dec 14, 2016 9:31am
Quoting tony1200
Do the same rules apply for longer term trading (7 days) and are the levels the same,,,,for instance 2 days ago their was a level of .7386 long,,AU ,,,,is that level still valid ? if so , for a 10 pip move? thank you
I'm afraid for a definative answer I'd defer to Dale, but what I would say is this, since trading away from that level price has moved up in steps and that zone has not been tested at all, and so I would expect to see some reaction around it but it will largely depend on the sort of price action we get between where price is now and that level. If you stretch your chart back to November you can see we've had a drift back following a significant move down. If that move down starts off again with some gusto then the low is likely to be tested, but the level you talk about would most likely still see a reaction. It would be a good one to watch as price approaches, you can't beat a bit of screen time to get in tune.
  • #1,868
  • Dec 14, 2016 9:40am Dec 14, 2016 9:40am
Quoting ziggy
{quote} I'm afraid for a definative answer I'd defer to Dale, but what I would say is this, since trading away from that level price has moved up in steps and that zone has not been tested at all, and so I would expect to see some reaction around it but it will largely depend on the sort of price action we get between where price is now and that level. If you stretch your chart back to November you can see we've had a drift back following a significant move down. If that move down starts off again with some gusto then the low is likely to be tested,...
Thanks for your response , I usually swing trade,,,using S/R on daily charts along with divergences ,,,shorting the daily highs and longing the daily lows in a range,,,
so this is a BIG change,,,
Thanks again
  • #1,869
  • Dec 14, 2016 9:49am Dec 14, 2016 9:49am
Quoting ziggy
{quote} ... Once you've added them into the data folder you will most likely have to close down mt4 & restart it. ...
just a quick note, you don't have to restart MT4, just open your indicators Navigator (ctrl + N), right-click on any custom indy and press "Refresh" and here you have updated list
  • #1,870
  • Dec 14, 2016 10:09am Dec 14, 2016 10:09am
Quoting ziggy
{quote} we are looking some way off all of the levels, and the FOMC release is 4 hours away. The chances of hitting the levels through "normal" movement aren't high, if by some chance they are hit pre the release then I have alarms in place and will trade right up to 15 mins before, I'll do this because if touched there is every chance of a move back pre release. But if not hit by 15 mins pre release I will not trade them at all. The rate rise has been so heavily touted that anything that doesn't meet expectations is bound to have a significant...
Thanks Ziggy ...pearls of wisdom for the ignorant ones
  • #1,871
  • Dec 14, 2016 10:18am Dec 14, 2016 10:18am
Quoting radaway
{quote} Hi Dale/and All the fomc is around 2000 eu time. by a 'Be especially carefull '..do we stop before this time with the levels from today, specially the USD ones ? Thx.
I won't be trading from now (today's levels probably won't be hit untill FOMC). After that I won't probably trade at all. I will wait untill tomorrow.
  • #1,872
  • Dec 14, 2016 10:21am Dec 14, 2016 10:21am
Quoting Trader-Dale
{quote} I won't be trading from now (today's levels probably won't be hit untill FOMC). After that I won't probably trade at all. I will wait untill tomorrow.
Excellent News Sir !
  • #1,873
  • Dec 14, 2016 10:24am Dec 14, 2016 10:24am
Quoting ziggy
{quote} I'm afraid for a definative answer I'd defer to Dale, but what I would say is this, since trading away from that level price has moved up in steps and that zone has not been tested at all, and so I would expect to see some reaction around it but it will largely depend on the sort of price action we get between where price is now and that level. If you stretch your chart back to November you can see we've had a drift back following a significant move down. If that move down starts off again with some gusto then the low is likely to be tested,...
If any of my levels wasn't "tested" then it is still valid one. If it isn't among my new levels the next day it may be because it is just too far and it is not probable that the market will reach it that day. I have all my previous levels that weren't tested still in my charts and when the price gets near them I usually trade them. One exception is when the level is too old - lets say more than 10 days. Than I sometimes delete it and only use the exceptionally strong ones (in case they are really old).
  • #1,874
  • Dec 14, 2016 10:25am Dec 14, 2016 10:25am
Quoting ziggy
{quote} I have 2 indicators on my chart, attached, and hopefully I've also managed to attach the template. Indicators go in your data folder under MQL4/indicators. Template goes in your data folder, in templates. Once you've added them into the data folder you will most likely have to close down mt4 & restart it. I'd suggest saving what you already have, then loading just 1 pair into your platform, then applying the template "naked". I've attached a screenshot of how mine looks, hope this helps. once you're happy then you can apply the template...
This is great! I really like this MP visualization for MT4. Thanks very much for sharing Ziggy!
  • #1,875
  • Dec 14, 2016 10:33am Dec 14, 2016 10:33am
Quoting Trader-Dale
{quote} If any of my levels wasn't "tested" then it is still valid one. If it isn't among my new levels the next day it may be because it is just too far and it is not probable that the market will reach it that day. I have all my previous levels that weren't tested still in my charts and when the price gets near them I usually trade them. One exception is when the level is too old - lets say more than 10 days. Than I sometimes delete it and only use the exceptionally strong ones (in case they are really old).
Wow..this takes the game to an entirely different level here ..not for the mere mortals I guess
  • #1,876
  • Dec 14, 2016 12:05pm Dec 14, 2016 12:05pm
Dale I'm trying to figure out your source for futures data and i go to search on Tradingview and i get completely overwhelmed with results!!
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-12-14 at 18.04.26.png Size: 347 KB
So many in the Commercial section want to make me rich! :o
  • #1,877
  • Dec 14, 2016 12:29pm Dec 14, 2016 12:29pm
Quoting FX-Flux
Dale I'm trying to figure out your source for futures data and i go to search on Tradingview and i get completely overwhelmed with results!! {image}
Current active contract is December (Letter Z)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 159 KB
Click to Enlarge Name: 2.png Size: 93 KB
  • #1,878
  • Dec 14, 2016 12:58pm Dec 14, 2016 12:58pm
Quoting C01n
{quote} Current active contract is December (Letter Z) {image} {image}
Cheers!!
So many in the Commercial section want to make me rich! :o
  • #1,879
  • Dec 14, 2016 1:06pm Dec 14, 2016 1:06pm
usdcad hit both shorts!
  • #1,880
  • Dec 14, 2016 1:23pm Dec 14, 2016 1:23pm
I was sure I cancelled a pending order I had on the EURUSD. Got hammered bad. Guess you live and learn.
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