hi down under i dont use that indicator but the dot represent cross or 50 ema and arrow a crow of step stoc and yes i still use the 3 step stoc all in agreement to filter my trades
if you check the numbers it will show you the expected result and the actual numbers.
If your looking for an in depth analysis of each report - this isn't it -
If you want to know when the reports will come out ahead of time (so you can adjust your trades accordingly) - its great!
If it's not to much trouble could you list the 3 Stoch indicators you use. There must be 5 or 7 verisons of this indicator on this thread. I've read your post and you seem to make alot of sense. I agree with you that the newbies to this thread including myself would benefit form the more experienced traders giving a heads up when they see a signal forming on their charts. I also agree with you, and I don't mean any disrepect to Nina, that posting the potential results after the fact doesn't really help the newbies learn to recognise the signals. I think posting that the system signals gave 300 pips today sets the newbies up for a hard fall when they can't achieve anywhere near that result. Don't get me wrong, it's great the system has such potential but I would rather focus on learning the signals and consistantly making 20-40 pips per day. If I could do that combined with good money management I would be very happy with my results.
The one thing that I'm still having an issue with is the level 3 and 4 trades. There seems to be a difference of opinion about what criteria needs to be met to qualify as a level 3 or 4 trade. Does anyone have an explanation along with a chart showing the trade. I think that would go along way in helping us newbies understand what a level 3 and 4 trade is.
I would like to thank everyone so for for being so helpful.
Here is a template with the 3 indicators Harold4X is talking about. All the settings have already been done. All you gotta do is unpack the zip archive and then put the indicators in their folder and the template in its folder. Close and start up MT4 and then load the template called "harold4X_basic"
It's got the 3 indicators plus an EMA50 and EMA120 line.
Levels 1, 2, 3 and 4, a further graphic study
OK, here is a study of levels 1, 2, 3 and 4.
The main difference between Level 2 and Level 3:
OK folks, I just noticed EMA50 and EMA120 are crossing, look here (TF=M30):
a) EMA50 is down-crossing EMA120 on EUR/USDF and about to do the same on GBP/USD
b) EMA50 is up-crossing EMA120 on USD/CHF
Does this mean a general change in the market's sentiment?
Could some of the trending patterns developing over the last 10 days be reversing?
Level 3 and 4 Trades
OK, here is a study of levels 3 and 4. These will not be the final graphics for these illustrations since
I'm working on better ones in the near future.
Thanks Moneyline that's exactly what I was looking for. May I ask where you got the level 3 and 4 graphic. Is there a website with this information?
I designed the graphics myself because I wanted to cement the descriptions in my mind. I could either sit at the computer repeating the descriptions/parameters, or render them in a graphic format. It's one of my ways of learning.
Anyhow, if you want to check out some more of the same (for levels 1 and 2), go to post number 2884 on this thread.
These graphics have been done with Nina's help. Perhaps some time in the near future he will help me do some revised descriptions that will be better. I do thank him and Mibl for all their help.
you are our big level illustrator!!! That helps us all to understand and to reduce the recurring questions about the signal levels.
Signals this morning so far
EURUSD >8:30 cet: Level 4 short @1.2881
GBPUSD >8:30 cet: Level 4 short @1.8546
USDCHF >8:00 cet: Level 4 long @1.2303
To see if the movement will have strength you could take f.e. a 5 min chart - that helps a lot.