The Murrey Math Trading System - page 117
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Hi eganology,
Repost picture as a jpeg, it will show up in full screen size
xard777
Does anyone trade using Murray Math with the 1 minute chart?
Set the square width using the normal settings of 64?
Short 7/8 target 4/8, stop 8/8
Long 1/8 target 4/8, stop 0/8
very simple, almost mechanical...
You get 3:1 Risk to Reward...
No other indicators or confirmations.
Can someone program an EA based on this observation?
The only rule I would add is even you get stopped out so market would then be > 7/8 or < 1/8; have the EA put a buy stop for 1/8 and sell stop for 7/8... Other then that have the EA use simple limit orders. Risk 2% per trading session so 0.25% per trade, average 1-3 traders per hour.
Probably best to have it trade the ranges. So test EA in three different 5 hour trading intervals. I trade using this strategy currently in currency futures, so not sure if that will make a difference since I really do not have a spread, and can buy the bid, sell the ask... Since I have no way of back testing, since this is a study provided in my chart package, I can only show my most recent trade taken about 20min before writing this post... a long at 1/8. Sorry in advanced for the resolution, usually when I post my snag it screen caps. on other forums it works no problem? not sure why the resolution is not correct here...
It can only trade during:
12am-5am est.
10am-3pm est.
6pm-11pm est.Hi eganology,
Can u attach the Murrey version you're using?
Murray Ver.
I can attach the ver. you will not be able to use it for mt4 or forex.
it wont even let me attach b/c it is not one of the following format:
"Valid file extensions: bmp doc ex4 gif htm html jpe jpeg jpg mq4 mqh mql pdf png psd rar set tpl txt zip"
However, I feel the ver. everyone is using here is the exact same thing, I have double checked it myself in Mt4.
I personally like Murrey_Math_MT_AllTF.mq4 the best...
The study I use is called "murray.StdyCollct"
I can attach the ver. you will not be able to use it for mt4 or forex.
it wont even let me attach b/c it is not one of the following format:
"Valid file extensions: bmp doc ex4 gif htm html jpe jpeg jpg mq4 mqh mql pdf png psd rar set tpl txt zip"
However, I feel the ver. everyone is using here is the exact same thing, I have double checked it myself in Mt4.
I personally like Murrey_Math_MT_AllTF.mq4 the best...
The study I use is called "murray.StdyCollct"Make a zip and upload it.
1 minute trade images
Hi eganology,
Repost picture as a jpeg, it will show up in full screen size
xard777here are some evening trades that I took, obviously the cap is hindsight, but will give you the general idea... Murray Math basics.
The other thing is if someone wants to make an EA of this strategy, I would filter the 1minute trades, b/c the frequency will be much higher then my one five hour manual session with 5 bar fractals, so 2n2, basic bill William fractals,
This way the EA only takes a long @ 1/8 if there is a 5 bar fractal below it... which would make it a higher low,
If the EA wants to short at 7/8, look for a higher fractal, making the short a lower high...
volume charts
If possible, I have not seen a volume bar indicator, load murray on Volume Charts. I like to do .1%,1%,2%,10%,100% of the currency daily volume, I trade the EURUSD or 6E
here you are...
Put indicators in experts/indicators folder
and put the TimeFrameLib file in experts/library folder
Xard777Hello Xard777,
Can you please check & reupload the X TF 2009 indicator i am getting an error in the log.
2009.02.18 19:14:28 X TF 2009 USDCHF,M15: unknown subwindow number 1 for ObjectCreate function
Thanks a lot.
If i want to create a simple EA using your indicators is it possible to upload .mq4 files for the indicators
This one should work ok... Xard777
Hi Xard777,
I tried it still the same problem. I deleted all the Global Variables and shutdown the MT4 platform, Replaced the X TF 2009 .ex4 and restarted it but still having the same problem.
Thanks
Hi progressapama,
I loaded the X TF 2009.ex4 file and the X TF 2009 (TimeLine) Plugin.ex4 file.
It appears to be working ok.
Log file...
07:58:36 X TF 2009 GBPUSD,M15: loaded successfully
07:58:36 X TF 2009 (TimeLine) Plugin GBPUSD,M15: loaded successfully
07:58:36 X TF 2009 GBPUSD,M15: initialized
07:58:36 TimeFrameLib-v0.3 GBPUSD,M15: loaded successfully
07:58:36 X TF 2009 (TimeLine) Plugin GBPUSD,M15: initialized
07:58:36 TimeFrameLib-v0.3 GBPUSD,M15: loaded successfully
08:00:17 X TF 2009 GBPUSD,M15: deinitialized
08:00:17 X TF 2009 GBPUSD,M15: uninit reason 1
08:00:17 TimeFrameLib-v0.3 GBPUSD,M15: uninit reason 0
08:00:17 X TF 2009 (TimeLine) Plugin GBPUSD,M15: deinitialized
08:00:17 X TF 2009 (TimeLine) Plugin GBPUSD,M15: uninit reason 1
08:00:17 TimeFrameLib-v0.3 GBPUSD,M15: uninit reason 0
08:00:17 TimeFrameLib-v0.3 GBPUSD,M15: removed
08:00:17 X TF 2009 GBPUSD,M15: removed
08:00:17 TimeFrameLib-v0.3 GBPUSD,M15: removed
08:00:17 X TF 2009 (TimeLine) Plugin GBPUSD,M15: removed
I enclose another copy for you to try...
Xard777Hi,
Thanks that worked great. Do you have a simple EA that we can use with indicators to test how effective it can be in real trading. I would like to may be code a simple EA for the indicators if you can post the .MQ4 files that would be helpful
Testing the Murrey Math Theory
Hi Andreas,
I am also testing the Murrey Math trading concept on a demo account on 15M chart . My Simple rules are more or less the same as yours
Buy --> When Price is below 0/8 and average out the first position by entering a second position when price goes towards -2/8
Sell --> When Price is Above 8/8 and average out the first position by entering a second position when price goes towards +2/8
TakeProfit = 30 - 150 Pips ( decide for yourself --i use 30 -50 ) and Stop Loss = 150 - 200 Pips
I am still learning and refining my method of using Murrey math indicators. Here are my results so far. It is Manual i have not started coding the the EA yet.
Demo Account Deposit = 100, 000 using Standard Lots 1 or increments of 1
if you are using deposit of 10,000 or 1,000 then just use Mini-lots or Micro lots you will have the same results but less profits . It is about 3 greatest things you need to be a successful trader
1. Money & Risk management
2. Entry Rules
3. Exit Rules
Always respect your rules and automate everything once the test is over. Remember the Goal is " Always to live to fight another day -- Cut losses if the trade goes against you and do not be stubborn against your rules because the BIG BOYS aka BANKS & HEDGE FUNDS do not give a damn about us. We are just part of the game, you either win or youre out of the game, it is a zero sum game"