The Murrey Math Trading System - page 6

[JaneFX]

[JaneFX]

xard777:
You answered your own question:-)

MM Timeframe period can be many different Hi/Lo snapshots depending on the observers outlook ie

16 bars, 32, 64, etc...also number of bars times 1, 1.5 and 2 can be used.

I just use 64 bars x 1 as my rule of thumb, also you are meant to use the CLOSE of the candle highest/lowest within your time period. (If someone knows the line of code to do this please let me know as I currently make do with the highest high and lowest low)

VladVG code is the same as I use, just diferent hi/lo's are used to decide the octave (height of the timeframe)

If you are unsure as to which timeframe to use simply use kruzel's AMM dos ver enclosed here or an excel one based on kruzel's also here.

Thank you very much! I will take a look at it!

In Vlad's code he has input for Period and it is default to 1440. I assume it is a daily default. If I was to use his indicator and 15 minute chart what would be the Period paramter?

Where would be a good place to read about Murrey Math?

Thanks again

[EACAN]

[giz-gaz]

i've been using murrey for quite long and my opinion is, murrey is suitable in ranging market.. its like an oscilator.. so combining murrey with a lagging indicator might be worthy..

[Ingwe]

Hi xard777

Thanks for all your input. On which timeframe do you apply your indicator of mm?

Kind regards.

Ingwe

[ayanjuta]

Need more explaination

Many thank to those are very kindfull on produced the programe work properly such as DAN-MM-v2 and #MurreyMath-TimeFrame. May God bless u all.

I had download all the requirement for the MM to work properly but unfortunately I still confuse on applying the method to my trading system since I didnot had a clear picture on how it work. so if there any expert can explain a bit more and I appreciate on your hand. I had compare with the graph and spreadsheet but still confuse on Major/minor square,octave, square in time, want to reverse off.

thank to xard777 and all of you

[BrettP]

Visual rollback

How far back on a chart, say 4hr, are the MM lines accurate? Or are they accurate just for the current bar / day / ... ?

[hidethereal]

Would you be willing to post the indicator in your screenshots? The "it's life Jim" indicator. It looks interesting.

Thanks

xard777:
Everyone has their own quirky taste as to which timeframe to use, I like to use the 4hr chart a lot for trading.

I will make two charts of the same pair, the left chart I will use mm timeframe, the right chart I will use mm octaves.

When you look at the mm octaves chart you will see that the market wants to run from 0/8th to 8/8th and reverse back down to the 4/8th level, it also wants to run from 4/8th up to the next 4/8th and reverse back down to the 8/8th (the market likes to run in octaves...0/8 to 8/8th...4/8th to 4/8th & 0/8th to 8/8th again) when the market runs these octaves it will go past these levels and use the breakout area of -1, -2 & +1, +2 or in the case of octave 4/8th to 4/8th 3, 2 & 5, 6. As murrey states if the market fails to close beyond the breakout area then it wants to go back to it's 4/8th level, a lot of the time the market will go back down to it's 4/8th level and continue to drop to 2/8, 1, 0, or -1, -2. A lot of money is made when this happens. When the market fails to close beyond the breakout area and heads south you are basically looking at 6/8th, 4/8th, 2/8th & 0/8th target levels. If it stops at 4/8th or 2/8th you ask yourself is this a possible 4/8th to 4/8th next octave?

Same when it fails to close beyond the -2/8th and goes north 2/8th, 4/8th 6/8 & 8/8th (if it hits 8/8th look at a reverse back to 4/8th, If it only goes up to 4/8th or 6/8th ask is this the start of next octave run down 4/8th to 4/8th? At times it will go back down and reverse at the 1, 0, -1 or 2 and still be in it's existing octave and run up to 4, 6, 8)

People say that mm is only a ranging indicator fine, when the market continues to run in one direction watch for it running out of steam after two, three or five octaves, then the whole process starts again. 8/8th to 0/8th and 4/8th to 4/8th or sometimes it will run 0/8th up past the 8/8th and stop at the next 4/8ths (this is actually a two octave run, if it goes from 0/8th past the 8/8th and stops at the next 8/8th, this a three octave run, now if it continues past that and stops at the next 8/8th, thats a five octave run...maybe the market is not running away after all, maybe its just moving in a mm range...I'll let you figure that one out).

You would be nuts to use MM on its own...you would fail

If you use it with a couple of other indictators you enhance your chance of predicting a future move from a toss of the coin to 80/20, use a trailing stop loss for the 20% time it's a runaway market.

If you do start to lose trades STOP, pull out all your capital and walk away from the pc....you will only throw good money after bad. Go for a swim, buy yourself new clothes, just take your mind off the market. you can go back the next day and see how much you would have lost and feel better for staying away.

Just remember your winnings are free of tax, paye, vat, insurance, employees wages, sickness, maternity leave, rent, rates, telephone, bank charges, gov charges, fuel at the pump duty charges etc...

So let's all have fun out there kids..

Xard777

[cartoon]

Can you explain how the function work? like EXTDepth.....

[rufffen]

xard, mate, long time no hear, can you MSN me, ID is [e-mail]. Got the new ideas bout the mmath.

Keep the good work up!