The Murrey Math Trading System - page 147

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Re MM Indicator

Enc. MurreyMath.TimeFrame indicator plus chart.

Enjoy:-)

regards

Xard777

 
JaneFX:
Can you explain the difference bewteen your indicator and Vlad? I was wondring why Vlad' was givin such a wide range. Perhaps the input had to be changed to accomidate different TFs. Thank you very much for your contribution

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.

 
Ingwe:
Hi xard777

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

Kind regards.

Ingwe

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

 

dont take it too complicate

Hey Cycle, you have very good and promising system, principally because you use to keep it simple.

so get into the mistake of putting all complicate.

 

Hi Cyclesurfer,

Very nice system. It is similar to what I have been using, but I didn't have all the fancy indicators until now. Thanks so much!

When I enter a trade at a support or resistance point and it reverses, I close the first position, and open double lots for the second. If it reverses again, I double again. I only double so many times depending on my originaly position size and account balance, but then reverse with a constant position size. Yes, it is a loss on each subsequant reversal, but it is a small loss because the reversal positions are near each other. If it looks like the cycle might continue, I just close and wait for another opportunity.

The idea of doubling the position is not so much cost averging, but rather working on the theory that you will get only so many reversals before a breakout. I actually look forward to the reversals, because I might get in at 4 or 8 times my original position and make a lot more profit.

I am working on my first ea based on this idea. The Murrey lines might be the indicator I need for entries.

Thanks again.

PS. 9 is a magic number, so to speak. 9 is the number of Murrey Math lines dividing 8 intervals. So, there might be more to it then you think. Of course, there might be nothing to it at all:)

 

Please help me !

Hi friends ! I'v using MML_Multi_Option_v1.24. Now i want the title MM lines ( marked in attach file ) show in the left of the screen. How to edit code in it ? Please help me ! Thanks so muck !

Sorry for my bad english !

Files:
mml_multi_option_v1.24.mq4  29 kb
mm.gif  32 kb
 

Does any one using this system and how consistent it is in term of their performance over time?

 

Entry/Exit points.

Hi

Where do we place the entry and exit points on MM?

Little confusing for me as I am a Newbie. Can you please help?

Thanks in Advance

Sellvaraj Natarajan

 

Could someone please re-post most current version of indicators?

@newdigital or anyone, please could you re-post the latest versions of the indicators or point me to where they are now located?

They were taken down for some reason in May 2010

Thank you.

Chris

 

Text Shift Function Is Already Built In

thanphong07:
Hi friends ! I'v using MML_Multi_Option_v1.24. Now i want the title MM lines ( marked in attach file ) show in the left of the screen. How to edit code in it ? Please help me ! Thanks so muck ! Sorry for my bad english !

Hi Thanphong,

The text shift function is already built into this indicator.

extern int text_shift = 8; // name changed from mml_shft and externalised - DA // default = 8 right side

I used "text_shift" = 75 in my attached screen shot to put the text on the left side of the chart.

Hope this helps you,

Robert

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