The Murrey Math Trading System - page 30
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I created a fix for EURUSD to make the lines accurate. With the fix, support/resist lines are in the same (relative) locations for corresponding currencies. Without the change, I noticed they were very different. This fix is not applied in Octaves v6. This fix is specific to all currencies with a price under 1.5626
Would you be able to add it and post it please?
Hi There,
Octaves 5 and 6 give same readings, just that 6 includes baby 2/8ths
Xard777Hi Xard
On your 4Hr chart the value of 1.9043 = 7/8 on octave 5 and 0/8 on octave 6
Please explain the difference.
I appreciate your time.
nesalc
octaves 6
Hi There,
Octaves 5 and 6 give same readings, just that 6 includes baby 2/8ths
Xard777where i can download octaves 6?
where i can download octaves 6?
ahmad86
Go to page 32 - post # 315
nesalc
Hi Xard
On your 4Hr chart the value of 1.9043 = 7/8 on octave 5 and 0/8 on octave 6
Please explain the difference.
I appreciate your time.
nesalcHi nesalc,
octave 6 takes a snapshot of the market, octave 5 shows a larger picture.
If you look at the octave data table on right of screen (octave 6 chart) you will see in the first column 7/8ths = 1.9043 and second column it is 0/8ths.
Octave 6 shows 2nd column data and 3rd column data as baby 2/8ths - hence the snapshot. Which means that you do not need to use a timeframe as we kind of cover all the bases in one chart. see post 314 for a more detailed description.
Here is Octaves v5 posted again.
I'll recap what this does differently, just in case someone is seeing only this message and not reading the past 20 posts in the thread.
Murrey Math has lines that are essentially set in stone, and they are precalculated. Since there are so many Murrey Math Lines (MML) it is much faster to use software to calculate them. The MML are fractally arranged, like a fern leaf. When you zoom in closer, the same pattern is repeated over and over. OctavesV5 had an improvement over v4, where you can set the zoom level to 8, 64, 512, 2048. OctaveV6 apparently does this by default.
Xard has created a true to form version of Murrey Math lines, but it has been noticed by many people that forex currencies under 1.5625 don't obey the MML. There is a fix used by people who took the Murrey Math Course, trained by Murrey. In the calculations of the MML, there are a few steps where the currency uses the increments of a security valued on the 10,000 scale, not the 1.5625. When this fix is applied, EURUSD USDCHF AUDUSD all have MML that #1 seem more accurate #2 match MML for corresponding currencies (relative to price action) and #3 have a different scale. It is more important to adjust scale when using this fix, so the scale adjustment (to zoom in or out) is used more on currencies valued under 1.5626.
I am not absolutely certain the fix in Octaves v5 is necessary or accurate, but it has been done by others. I did not have strong confidence in Murrey Math, the fix, or my implementation of the fix until I was able to cross reference corresponding currencies and see the same MML relative to price. 'The fix' is not in Octaves v6, and I would appreciate it more people tested 'the fix'. The TKNotes1.html file attached is where I found 'the fix' first used.
hi, daraknor
do you mean the SR regarding on the Fix?
asam
yes, SR=10000 for 'the fix' if price<1.5625. About 30-40 posts back I explained where it was explained, etc.
Xard,
Thanks for the indicators! I'm just wondering why I'm also seeing a difference btwn version5 and version6. I do notice that the setting in v6 has the periods at 34 and in the template that you provided for v5, it was only 32. Do you think this would create such a difference? Which period is more accurate to use?
please see piccy
Xard,
Thanks for the indicators! I'm just wondering why I'm also seeing a difference btwn version5 and version6. I do notice that the setting in v6 has the periods at 34 and in the template that you provided for v5, it was only 32. Do you think this would create such a difference? Which period is more accurate to use?
please see piccySorry for confusing everyone, please use version 5 as its a timeframe. The version 6 does not use time and the 34 setting is only there so that the lines can be drawn from bar 0 to something (34 bars wide which makes the chart fit nicely in the centre of the screen based on a resolution of 1024 x 768 - absolutely nothing to do with murrey)