Trading with range bars ichimoku cloud & awesome oscillator

Endy pse give me the link to the power indicator. Thanks

1. yumnyap

Pse see post 1691 from endy with regards to MT4 settings

Morrishe, does yours keep hanging when u allow DLL import? Cause mine kept on hanging and i couldnt open the EA.

No mine does not hang.

MT4 - You need to have the range bar EA new format installed in your Expert Advisors Folder. Once you have selected your FX pair [GBP/AUD] Click and drag this over the chart.


You need to ensure that the TimeFrame on the EA for the range bar [second pic] and the Offline charts are the same. See 3rd pic below.

The smaller the BarRange is, the more responsive you chart will be. If you had it at 50, then it will appear frozen, but at 5 is is respondsive


Just thought of another problem - goto tools then options and select expert advisor. ensure that they reflect mine.

Hopefully this has resolved your problem.

hi rocky..
what do you mean " pretty weak signals on AO"
can you explain a little bit..

thx rocky for your answer..

GBPUSD went well again today

Have a good weekend all!

Peezeroo, Just referring to size of bars on oscillator, the smaller the bars the flatter the direction of the ma's and closer together they are moving.

1 trade today, passed on a couple others. Just not feeling it today.

Thanks Morrishe..

I think I speak for most of us. RP has given of his time and training and anything I can give back to his thread, I am willing.

Hi RP,

1.why do i see that at times you are using 5 ticks and 50 ticks? Why is that so?

2.When u go to see currency strength indicator to see the currency. When GBP at its highest and EUR at its lowest, do u focus on this pairs for it to range then reverse? meaning to say u will be waiting for EUR will rise and GBP will drop, pass the S/R and u enter a position? Do correct me if im wrong. Thanks!

Hi Yummyap,

1) 50 ticks is on fx pairs (which is equal to 5 pips) and 5 ticks is on futures

2) Can't really answer the question depends on price action that day, sometimes the trend continues sometimes it don't, day trading requires going with the flow.
Price action can do 3 things go up, go down, go sideways, so you can do 2 thing enter a trade or pass on it. thats where a viable system comes in and provides you with an edge, it identifies possible trades opportunities, it show possible entries, then pa confirms entry and eventually exits.

Hi Rocky.

Clarifying some questions, from a novice.

I have been looking back several pages and I noticed something. When you draw in your horizontal line of support/ Resistance, you go back to the previous Lower Low or Higher High, even if there are lower or high ones previously. - Why do you do this?.

Double tops or double bottoms - is it an indication to get in or if already in to get out? and where do you draw you S/R line - ?

When you talk about PA price action - please explain further, I have read up - I tend to think along the lines of historical data, trend lines S/R lines, but I think this is not all of it.

Histograms on AO - what do they reveal, what information does the height of the histogram relay to the investor? I have looked to AO utube videos but they all talk about the patterns. How can one see if there is strong or low resistance. How does the histogram reflect moving averages.

Help here would be good. Thanks RP

1) I'm usually entering out of fairly tight consolidation pa so there isn't any huge difference, so previous swing hi/lo works fine.

2) double tops/bottoms are considered reversal patterns, it can be an indication to consider getting in or out of a trade. S/r is above a double top and below a double bottom, sometime you have both and you have a channel.

3) I look at historical nothing, when I refer to pa I'm rarely referring to other than the last 4 hrs.

4) the Ao consists of a 5 sma and a 34 sma the higher the histogram the larger the distance between the sma's indicating stronger momentum.

RP.

Thanks for the insights.

Double bottoms / double tops. Normally i see the pa going through the s/r then return back to the s/r before moving back. Should one enter the market at the first penitration. If it goes back on itself, get out and when it passes the s/r for the second time get right back in?

When passing thro the s/r do you wait for the second complete bar before you enter the trade?

Morning All - Power meter 4 hours at 6.6.

Trades this morning.

Good trade + 14.4 pips - got out when neg Divergence started.



Minor profit + 3.4 pips - RP how could I have done better?

Unusual morning since all my trades were CAD pairs does not happen very often.

Hi Morrishe,

Nothing wrong with your trades movement just not there, you say power meter 4hrs at 6.6 what does that mean?

RP, did you pay special attention to power meter here?
http://winnersedgetrading.com/forex-power-indicator/

In regard with CAD getting weak..

Yes as an initial focus I look at the meter to see if there are any strong/weak currencies I don't pay much attention to pairs side. I always check through charts of
all regular pairs I trade too.