The Murrey Math Trading System - page 16
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It recalculated depend on your chart TF. When TF 30M, it's mean every 30minutes the line will change. Correct me if i'm wrong.
Thanks for the reply but I don't think that's correct. If it recalculated that often, you would never have confirmation that the price acted accordingly. It would be akin to redrawing the trend lines between only the last 2 bars - you would have no idea of the overall trend.
It recalculated depend on your chart TF. When TF 30M, it's mean every 30minutes the line will change. Correct me if i'm wrong.
Thanks for the reply but I don't think that's correct. If it recalculated that often, you would never have confirmation that the price acted accordingly. It would be akin to redrawing the trend lines between only the last 2 bars - you would have no idea of the overall trend.
Actually, the MM lines are calculated by the high and the low within a square of the last n bars (30, 60, etc...).
So there is the potential for the lines to change every 30 minutes, and sometimes it does update that often. But most of the time it stays the same... untill the current high or low changes withen the square of past bars.
Jpy pairs not working...
so sad
Fixed the MM Data so that it displays cable & yen figures correctly.
Added a trend up/down - no need to ask in future
Added High/Low Daily figures
Added High/Low Daily Box in chart screen - (coding courtesy of cja - thanx)
Simply D/L the xard777.rar file and unzip
put the xard777 template file into c:\metatrader4\templates
and the rest of the files into the indicator folder
restart Metatrader4, right mouse click, select templates\xard777
Enjoy
Xard777
EDITED 01:00 UPDATED PICS PLUS FILES - USE INSTEAD OF EARLIER VER.could you please provide also the manual to use this template?actually i'm newbie...very interested to use this template!!!thank u
If it closes, a "baby" 2/8th above MM 5/8th, then it will climb to 6/8th, 7/8th or 8/8th. what it is mean?
I have used MM for 18 months and use only the 64 setting. I generally trade off the 5 min while checking out the 1 & 15 min, with a brief check now and then on the 60 min just to see where the support/resistance ( MM Levels ) is and what MACD & RSI are up to.
I confirm MM support/Resistance with MACD/RSI and pick entry off 1 min.
15 min MM Levels & MACD/RSI give me the short term trend strength.
On the 5 min chart when price reaches a potential MM reversal level wait for MACD to start turning RSI Oversold/Bought & where RSI is in relation to the 50 level ( The 50 level can provide support/resistance & help confirm trend ) also look for Pos/Neg divergence on MACD/RSI ( MACD Histogram often gives early warning of price direction changes with Divergence )
Check 1 min to see where price is in relation to MM levels and enter after RSI has turned ( from above 70 or below 30 )up/down and just as MACD Crosses
Works real well in a consolidating market or a trending market
Tonight made 3 good trades all worth 30 plus pips just by trading the short term shifts, the more you use MM levels the better you get to know what price is going to do next.
OH and you have to be really aware of up coming NEWS because that can throw a real curve ball into the proceedings if you are not ready for it.
See the attached 5 minute chart for my trading setup
Hi there,
It is the most wonderful system for trade that i've seen before. What a curious thing to ask is, which tf is the confirmation to enter the price 1 min or 5 min?
Thanks A lot,
Ejo3s
Re entry tf
Hi there,
It is the most wonderful system for trade that i've seen before. What a curious thing to ask is, which tf is the confirmation to enter the price 1 min or 5 min?
Thanks A lot,
Ejo3sI use H4, H1 & M30, ppl that scalp the market probably use M30, M15 & M5 for entry.
Xard777
I use H4, H1 & M30, ppl that scalp the market probably use M30, M15 & M5 for entry. Xard777
Ok, tq,
Thats right. Thanks.
re Final Version
Final version up loaded
see post 172
The Trend Direction explained, so you know what is happening.
If blue and red cross above yellow - signal = UP
If blue only crosses above yellow - signal = WAIT
If red only crosses above yellow - signal = WAIT
If blue and red cross below yellow - signal = DOWN
If blue only crosses below yellow - signal = WAIT
If red only crosses below yellow - signal = WAIT
cja also added in the minor crosses of the red and blue
If blue crosses above red below the yellow - signal = MINI/UP
If blue crosses below the red above the yellow - signal = MINI/DN
It appears that if the MINI/DN MINI/UP signal switches back and forth then there is price consolidation and if the WAIT flashes on and off it could signal the change in trend and a Major REVERSALis about to happen.
Happy Trading
Xard777
PS I can't code to save myself, so thanx go to cja for turning my ideas into reality....Thanx cja