The Murrey Math Trading System - page 37
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Love It!
Thanks for everyone's effort. This is proving to be a great method for me to trade the 15m tf. Now I can understand why prices stop at a certain level. It also brings into perspective the actions between support and resistance. Know I need to make sense of trading longer time frames and using the stop loss and take profits correctly.
Many thanks to all who supported this thread and the indicators on them.
Thx.
futile and frustrating attempts at just drawing things on the chart manually. One of the complications of doing this is that the rectangle needs to be treated as a square, and then, relative to the rectangle-as-square, angles need to be drawn at 11.25, 22.5, 33.75, 45, 56.25, 67.5 and 78.75 degrees.
Ideally they can be hidden and displayed with a keystroke, coming from the 0/8MML, 0/8 MMI corner, and again from the 8/8MML, 0/8 MMI corner. The connecting locations would be along the MML and MMI, at the 2/8 4/8 6/8 8/8 6/8 4/8 2/8 spots.
This would be easier if I could force one year of data into the same width (in pixels) as my MML is tall. The 45 degree angle should go from upper left to lower right, and again from lower left to upper right corners.
I started off making a 1 year timeframe, because it should represent 4 complete cycles (whatever they are). It would be nice if we could move the start date to any time in October, see how the lines look, and take it from there. I don't know if zooming in the timeframe means zooming in the MML as well.
I'd appreciate seeing any .tpl files someone manages to create as prework to indicator. I think we need to draw it before we write code to draw it. Honestly a great indicator could be made where the MMI aren't precomputed, but DateTime input by hand. That way we can easily change the start/stop times hour by hour or by day.
http://murreymath.com/charts/ChartsJpgs/dx3mmar2490dy.jpg This uses parallel lines to the 45 degree angle.
http://murreymath.com/charts/ChartsJpgs/ecm3apr03.jpg
Compare the MML that MMOctave v5 makes! The 1.050 to 1.099 MML is drawn by v5! If anyone does work on this, please use MMOctave v5 for the lines since we have "from the horses mouth" confirmation that the changes I made were correct.
At the top of both images there are 5 icons, labeled "up down up down triangle" The lines at angles use the angles I provided here. The 45 degree angle parallel lines basically connect each MML to its corresponding MMI.
The circles are drawn where the 45 degree parallel lines "up" intersect the 45 degree parallel lines "down".
The Triangle 4 lines:
0/8 MML, 0/8 MMI to 4/8MML, 8/8 MMI
0/8 MML, 8/8 MMI to 4/8MML, 8/8 MMI
0/8 MML, 0/8 MMI to 6/8MML, 8/8 MMI then 4/8MML, 8/8 MMI in the next timeframe
0/8 MML, 8/8 MMI to 6/8MML, 8/8 MMI then 4/8MML, 8/8 MMI in the next timeframe.
There, from those pictures you have all of the information to make an indicator. The easiest way to program it might be taking 2 times as input. Time2-Time1 = full MMI. Divide by 2 to get the 4/8 point, by 2 again to get 2/8 and 6/8, by 2 again to get the odd interval numbers. The odd numbers should be dotted or not displayed, the even MMI numbers having solid lines. (If you buy the book you will definitely see the logic in doing this. http://murreymath.com/charts/ChartsJpgs/sfm3mar2490dy.jpg has a hint - it happened 3 times.)
The math is very simple, I think the biggest challenge is displaying the lines in MetaTrader.Thanks for the info, i'm now on trial using octave 5 but i dont know the function of the babyline color on it, can u tell me more about it? Ur help would be appreciated, tq.
Thanks for the info, i'm now on trial using octave 5 but i dont know the function of the babyline color on it, can u tell me more about it? Ur help would be appreciated, tq.
Are you using the template by Xard777 or the MMOctaves v5 by Xard777 that I modified? What is the mouseover on the line?
Are you using the template by Xard777 or the MMOctaves v5 by Xard777 that I modified? What is the mouseover on the line?
The one that you modified...
Regards,
The one that you modified...
Regards,
I have a 350 page book that attempts to explain what the different lines "mean" to the market. Basically the thick lines and the dotted lines are the greatest support and resistance lines for trading. The -1 and -2 lines as well as the +1 +2 lines over the 0/8 to 8/8 range often signal a reversal back to the 4/8 line if the +2 isn't pierced.
The 1/8 and 7/8 offer quick bounce signals inside the MM Octave. An even TP:SL bid on retracement to these lines with TP at the 3/8 or 5/8 and a SL at -1 or +1 would be a decent trade.
Trade on 1/8 retracement: TP 3/8. SL -1/8.
Trade on 7/8 retracement: TP 5/8. SL +1/8.
All of the other trading rules appear to require more information than I have displayed. There are also inaccuracies regarding Murrey Math relating to currencies regarding timeframes. For example, the MM Software uses End of Day data to make calculations. There is no clear "end of day" for Forex.
Hi Guys,
Have gone short on the AUD 1/8th @ 0.7843
Still under water on my long trade with the CHF
Should have hedged with the GBP, but didn't expect such a big move
But "That's Racing" as they say
Haven't had a loosing trade with this system yet, so reluctant to concede defeat
Have enough margin ride out a turn around
CMC
I was recommending long on 1/8 up to 3/8 because that is the fastest bounce according to Murrey. SL on the long at -1/8.
I just did a short on GIBUSD at the mMML 8/8, it dropped 62 pip down to the 7/8 line, but I'm hanging in for the mMML 5/8 and 4/8 (2/3 of my trade on the 5/8 line).
I'm well in profit on my SL at this point, so I'm just seeing how far the rabbit hole goes.
Cable daily chart
here is the daily chart for cable, you can see quite clearly how it has reacted around the extremes of the rang and its major pivot. I'm looking to take another short waiting for a daily candle - maybe the end of today will show it.
MM + MP = a winner
See how MM and Market Profile work 'together'
I was recommending long on 1/8 up to 3/8 because that is the fastest bounce according to Murrey. SL on the long at -1/8.
I just did a short on GIBUSD at the mMML 8/8, it dropped 62 pip down to the 7/8 line, but I'm hanging in for the mMML 5/8 and 4/8 (2/3 of my trade on the 5/8 line).
I'm well in profit on my SL at this point, so I'm just seeing how far the rabbit hole goes.Well, that's a good move to you, but i just wondering if i shot on GU at mml 8/8 price at 1.9531, so the stop lost should be at +1/8 price at 1.9653, it's too 'big' stoploss because it exceed more than 100++ pips lost, hope you can help me with this, i juz simply ask for the expert, thanks for the help,
Regards,